Ice Beanie Shark Tank Net Worth 2023
Ice Beanie is a beanie/cap-type product that uses cold therapy to reduce inflammation and swelling and provide relief from headaches and migraine pain.
The product was presented on Shark Tank in Season 12 Episode 13 by Nic Lamb, a professional big wave surfer and entrepreneur from Santa Cruz, California. He asked for $50,000 in exchange for 20% equity in his company, giving a valuation of $200,000.
It is unclear how much Ice Beanie is currently worth in 2023. One source estimates its net worth to be $1.2 million based on sales reports and funding. However, this estimate may not be accurate as it is not supported by other sources.
What is Ice Beanie? Who Founded Ice Beanie?
The Ice Beanie is a cap that provides cold compression therapy to alleviate various conditions such as migraines, headaches, fevers, stress, inflammation, sports-related injuries, concussions, chemotherapy, and traumatic brain injuries. It is a drug-free treatment option that offers relief without any medication.
The creator of the Ice Beanie is Nic Lamb, who is a competitive big wave surfer from Santa Cruz, California.
He began surfing at a young age and holds the record for being the youngest surfer to ride Northern California’s dangerous “Mavericks” wave at the age of 14. He has participated in surfing competitions around the world and became a Mavericks Champion in 2016.
Unfortunately, in 2017, while riding a large wave at Nazare, Portugal, Lamb suffered a severe concussion, which resulted in migraines and headaches.
He found cold compression therapy, also known as cryotherapy, as a non-drug treatment for his post-concussion migraines. However, using ice packs on a regular basis became tedious, so he came up with the idea for the Ice Beanie.
The Ice Beanie is constructed from soft microfiber polyester and covers the entire head. It has strategically placed gel packs that stimulate acupressure points and keep the head cool.
The beanie has an adjustable velcro belt for compression, making it suitable for various head sizes. It is reusable, lightweight, and machine washable.
To use the Ice Beanie, one needs to place it in the freezer for an hour, then wear it for refreshing comfort. As it conforms to the wearer’s head with their body heat, it provides long-lasting relief.
Ice Beanie Shark tank Pitch
Nic Lamb, the founder of Ice Beanie, appeared on Shark Tank and was seeking a $50,000 investment in exchange for 20% equity, valuing the company at $250,000.
During his presentation, Lamb discussed his background as a surfer and showed footage of himself falling from a wave and suffering a concussion.
Lamb brought Ice Beanies for the Sharks to try out, revealing that he had a pending patent for the product’s design.
When asked about the market size for cold compression pain relief hats, Lamb mentioned that about 40 million people in the United States alone suffer from terrible headaches and migraines.
He explained that each Ice Beanie costs $7 to manufacture and retails for $39.95 on the company’s official website and on online marketplaces Etsy and Amazon.
Although Kevin O’Leary and Lori Greiner opted out, Mark Cuban offered $50,000 in exchange for 30% equity, stating that the Ice Beanie had the potential to be a successful product.
Cuban also offered to display the Ice Beanie cooling compression hats in the locker room of his NBA club, the Dallas Mavericks. Lamb asked if Cuban would reduce his share request from 30% to 25%, and Cuban agreed.
Daymond John and Robert Herjavec then made offers of $100,000 for 25% equity and $50,000 for 25% equity, respectively, but Lamb decided to finalize the agreement with Cuban.
Following the show, Ice Beanies were in high demand and quickly sold out on Amazon. The product received positive reviews from users who found relief using Ice Beanie.
The company has since restocked on their official website and is also available on Etsy. The business maintains a small following on Facebook and Instagram, where it promotes holistic well-being suggestions.
As of March 2021, the status of the agreement between Lamb and Cuban was unclear, but it was later confirmed that the deal was completed in October 2021. The business currently generates $550,000 in sales.
Ice Beanie Net Worth
Nic Lamb enters Shark Tank seeking a $50,000 investment in exchange for 20% equity, which equates to a $250,000 valuation.
He accepted an offer from Mark of $50,000 for 25% which values his business at $200,000.
Ice Beanie Competitors
There is no update about the Competitors.
Ice Beanie Shark Tank Updates
Ice Beanie is a wearable cap that provides relief from headaches and migraine pain using compression cold therapy to reduce inflammation and swelling. The company was founded in 2017 by Nic Lamb, a professional surfer who suffered a concussion while surfing.
Ice Beanie appeared on Shark Tank in Season 12, Episode 13, which aired on February 21, 2021. Nic Lamb asked for $50,000 in exchange for 20% equity in his company. Several Sharks were interested in Ice Beanie, but Mark Cuban was quickest to act and invested $50,000 for 25% equity.
Since the episode aired, Ice Beanie’s growth has been astronomical, and Mark Cuban has been a great partner. As of October 2021, the deal with Mark Cuban had closed, and the company had generated annual revenue of $550,000.
Ice Beanie holds a net worth of $200,000 and is doing consistent work to increase its data and figures. However, there are many knock-offs of the product on Amazon.
In summary, Ice Beanie is a wearable cap that provides relief from headaches and migraine pain using compression cold therapy. The company appeared on Shark Tank in Season 12, Episode 13, and Mark Cuban invested $50,000 for 25% equity.
Since the episode aired, the company’s growth has been astronomical, and the deal with Mark Cuban had closed by October 2021. However, there are many knock-offs of the product on Amazon.
Ice Beanie Shark Tank Table Summary:
| PARAMETER | VALUE |
| Product Name | Ice Beanie |
| Product Description | Beanie/cap-type product that uses cold therapy to reduce inflammation and swelling and provide relief from headaches and migraine pain |
| Founder | Nic Lamb |
| Seeking on Shark Tank | $50,000 for 20% equity |
| Shark Tank Valuation | $250,000 |
| Shark that Invested | Mark Cuban |
| Equity offered | 25% |
| Deal Status | Completed in October 2021 |
| Ice Beanie Net Worth | $200,000 |
| Sales in 2021 | $550,000 |
| Competitors | Information not available |
Ice Beanie FAQS
What Is Ice Beanie And How Does It Work?
Ice Beanie is a beanie hat designed to alleviate migraine pain and other aches or injuries. It was created by professional surfer Nic Lamb after he suffered a concussion and grew tired of holding ice packs to his head.
The beanie has gel inserts that can be molded to the shape of the head and then frozen for 45 minutes to an hour. The beanie provides compression cold therapy to reduce pain and inflammation while providing cooling relief from migraines, headaches, and sports-related injuries.
Ice Beanie is a drug-free, natural solution to help reduce pain and inflammation associated with migraines and headaches. It is easy to use, and each beanie is ready to use right out of the box.
The cool gel packs provide immediate relief by affecting circulatory, metabolic, and nervous systems. The beanie covers the entire head, which is what sets it apart from other products of its kind.
Ice Beanie has received positive reviews from customers who have found relief from their migraines and headaches. The company has over 1,000 Instagram followers and 1,800 likes on Facebook.
The product has been successful, with the company generating $550,000 in revenue by the end of 2021. Overall, Ice Beanie is a useful product that provides relief and convenience to people who suffer from migraines and headaches.
What Was The Outcome Of The Ice Beanie Shark Tank Pitch?
Nic Lamb, the founder of Ice Beanie, appeared on Shark Tank in Season 12 Episode 13 and was seeking a $50,000 investment in exchange for 20% equity, valuing the company at $250,000. Mark Cuban invested $50,000 for a 25% stake in the company.
The deal with Mark Cuban closed in late 2021. As of 2023, Ice Beanie has reached a $200,000 valuation and has been doing great in business, with $550,000 in sales. The company has been featured on ESPN and is available to shop on Amazon.
What Happened To Ice Beanie After Its Appearance At The Shark Tank?
After appearing on Shark Tank in February 2021, Ice Beanie received a $50,000 investment from Mark Cuban for a 25% stake in the company. The deal closed in late 20211.
Since then, Ice Beanie has been doing well in business, with a $200,000 valuation and $550,000 in sales. The company has been featured on ESPN and has been working to increase its market share. Ice Beanie has been doing consistent work to grow and increase its data and figures.
The company has also been working with Mark Cuban to bring the migraine relief beanie into other markets.
Is it true that Ice Beanie landed a contract on Shark Tank?
Nic Lamb, a California surfer/entrepreneur, presented his migraine cure beanie company, IceBeanie, on Season 12 of Shark Tank.
Nic departed with a contract with Cuban: $50,000 in exchange for a 25% stake.
Who invested in Ice Beanie?
Nic agreed to take a $50,000 investment in return for 25% stock with Mark Cuban after Daymond and Robert tried to persuade him to accept their proposals.
What currency is the site’s pricing shown in?
All prices are in United States Dollars.
They’ve made an order; when will it be delivered?
They mail products as quickly as possible, usually within 24 hours. Please allow production time for their item to ship; delivery timeframes are typically between 3-5 days.
After their order has been sent, the tracking number will be updated.
If they are dissatisfied with their purchase, can it be returned? What happens if there is a problem?
They provide a full refund if the goods is faulty or damaged.
They have 30 days to return it to them for a full refund.
They must return it at their own expense; after the merchandise is received, they will get a refund for the entire amount of their original purchase.
Please include a return label with their name and order number on returned shipments.
Please keep in mind that if their shipment is on its way to them, they must wait for it to arrive and then return it to receive a refund.
Is it possible for them to cancel their order?
They can cancel their order without incurring any penalties. They must cancel their order prior to it being processed.
If the item has already been shipped, please utilize their simple return process to receive a full refund.
How long does it take to ship?
Shipping timeframes vary due to the fact that we ship internationally from a variety of fulfilment hubs. Shipping takes an average of 3-5 working days.
Does the ice pack extend from the base of the head to the neck?
IceBeanies are designed to cover the head, not the neck.
However, several consumers have discovered that wearing the IceBeanie backwards conceals those additional places.
Is the ice pack malleable?
Yes! They recommend that they leave the product to rest momentarily after taking it from the freezer, depending on how long it has been frozen.
This will allow the IceBeanie to soften and reach the correct temperature.
How many ice packs are contained in the Icebeanie?
IceBeanie comes with three acupressure gel packs.
How long does it remain cool?
45 minutes to an hour and a half or more! Depending on the length of time they remain frozen.
How does the large top gel pack insert into the beanie?
All of their gel packs are meticulously pre-installed inside IceBeanie for simplicity of usage. Simply freeze and then put on.
What is the net worth of Nic Lamb?
Nic Lamb net worth is $1.5 million.
