Kanga Cooler Net Worth
Kanga Cooler, founded by Logan LaMance, Austin Maxwell, and Teddy Giard, has a net worth of approximately $3 million as of March 01, 2023. The company was featured on Shark Tank in April 2019 and received an investment of $100,000 for 20% equity from Mark Cuban.
Kanga Coolers are available for purchase on their website www.kangacooler.com for $29.95 for a 12-pack or $34.95 for a 24 or 30-pack of drinks. The company is estimated to be generating about $3 million in sales per year and has seen rapid growth since the episode aired.
What is Kanga Cooler and Who founded Kanga Cooler?
Misfit Foods is a company that creates sausages made of 50% vegetables and 50% humanely raised chicken or beef. They also offer ground beef products made of 60% grass-fed beef and 40% vegetables.
Misfit Foods collaborates with similar company concepts such as Imperfect Foods, Fresh Direct, and Good Eggs to distribute their products, which are sourced from small, family-owned farms. Their products are sold at Whole Foods Market and on their website, where orders must be made in bundles.
In Shark Tank Season 12 Episode 17, Phil Wong, the founder of Misfit Foods, sought $250,000 for 5% of his vegetable sausages, which valued his company at $5 million. Wong already had earned almost $800,000 in his first year, and he was on track to earn $1.2 million.
The Sharks tasted the samples and discussed each flavor, and ultimately, Daniel offered $250,000 for 15%, and Lori offered $250,000 for 18%. Mark and Daniel teamed up to take advantage of Daniel’s first offer, and Wong countered with $300,000 for 15%, which Mark and Daniel accepted.
Misfit Foods is available in Whole Foods Market locations throughout Pennsylvania, Maryland, and Delaware, as well as Imperfect Foods, Fresh Direct, and Good Eggs. Official revenue sources are not available as of July 2021.
Kanga Cooler Shark Tank pitch
Following a successful Kickstarter campaign that raised $34,295 in early 2018, Kanga Cooler began offering its beverage coolers, the Pouch and the Kase Mate, for sale.
The company currently sells packs of 12 for $29.95 and packs of 24 or 30 for $34.95 on its website, with various colors and patterns available, as well as the option for custom designs.
In April 2019, the founders of Kanga Cooler appeared on Shark Tank seeking an investment of $100,000 for a 10% stake in the company. The Sharks were impressed with the company’s profit margins, which showed each unit cost $9.60 to produce and $29.99 to sell.
The company also received a substantial purchase order of $16,000 from Anheuser Busch, with the possibility of a 10,000-unit order if sales were successful.
Mark Cuban made an offer of $100,000 for 20% of the business, which was accepted by the Kanga Cooler team.
Mark Cuban’s partnership with the company is still ongoing, and Kanga Cooler has since become a limited liability company (LLC) and moved into new corporate headquarters called “The Fun Factory,” which features a half-pipe.
The company has been successful, with hundreds of orders placed after the show first aired and annual revenue of $3 million as of June 2021.
The net worth of kanga Cooler
Kanga Cooler’s net worth in 2021 is on track to surpass $3 million.
Competitors of Kanga Cooler
There are many competitors in the beverage cooler industry. Some of the main rivals of Kanga Cooler includes:
A Kanga Cooler is designed to keep beverages cool in warm weather, with or without the use of ice, whereas a beverage chiller must be used with ice to achieve the desired cooling effect.
Phresh Cooler is a portable drink cooler that features a filter to keep water clean. The drinks can be kept cold or warm for up to 24 hours.
Kelty Chillers are made from a durable plastic and a cooler bag for keeping bottles cool. They come in 48-pack sizes and even larger ones.
Yeti produces big coolers that can keep canned beverages cold, some of which even come equipped with wheels, making it easy to transport them to outdoor events or camping locations.
FAQS of Kanga Cooler
Who owns Kanga cooler?
Logan LaMance is the CEO and founder of Kanga Coolers.
How many Kanga coolers are available in the market?
Kanga Cooler is available in a number of colours and patterns. In addition, they offer bespoke coolers.
How much Kanga cooler cost?
Kanga coolers are very reasonable when compared to other beverage coolers in the market. You can purchase them from their website www.kangacooler.com for $29.95 for a 12 pack or $34.95 for a 24 or 30 pack of drinks.
What is Kanga Cooler Shark Tank Update?
Kanga Cooler secured a deal with billionaire Mark Cuban on Shark Tank for $100,000 in exchange for 20% equity in the company.
The founders Logan LaMance, Teddy Giard and Austin Maxwell were excited and grateful to have Mark as their business partner.
How many stores sell Kanga Cooler?
Kanga Coolers are available at KangaCooler.com, Amazon, and Bed Bath & Beyond.
How old is Kanga Cooler?
Kanga Coolers was founded on early 2018
What is Kanga Cooler mission?
The mission of Kanga Cooler is to provide quality coolers for transporting drinks which keeps drinks nice and cold or warm without leaking or sweating.
How much did Kanga Cooler generate in revenue?
The company is generating $3 million revenue in a year.
What is the name of Kanga Coolers CEO?
Logan Lamance is the founder and CEO of Kanga Coolers.
What are the different sizes of Kanga Cooler?
Kanga Coolers are available in a variety of sizes. The coolers can be customized according to your needs.
Where is Kanga Cooler located?
Kanga Cooler.com is based out of Clemson, South Carolina
What episode is Kanga Coolers on Shark Tank?
Kanga Coolers is featured on season 10 episode 18 on Shark Tank
When was Kanga Cooler Shark Tank season 10 episode 18 air?
Kanga Coolers is featured on Shark Tank season 10 episode 18 that aired on April 1, 2019.
How to contact Kanga Cooler?
If you want to contact the company, you can reach them over email at [email protected], or at the Website www.kangacooler.