Phoozy Shark Tank Net Worth 2023
As of 2021, Phoozy’s net worth is estimated to be around $1.3 million and by 2023, it has risen significantly to a whopping $6 million.
This proves that the company is on the rise and its success can be attributed to its innovative products such as their thermal capsules and cases that help protect phones from extreme temperatures and other environmental factors.
With such a high net worth, it is obvious that Phoozy is setting itself up for an even brighter future ahead with its range of revolutionary products that are sure to set new standards in the consumer electronics industry.
What is Phoozy?
Phoozy is a brand that produces protective covers for mobile devices such as phones, tablets, and laptops. These covers are made entirely from the same material used in NASA space suits and offer protection against extreme temperatures, drops, and even sinking in water.
The idea for Phoozy came about when former NASCAR driver, Kevin Conway, missed an important phone call due to his phone overheating on his yacht. He had also lost a couple of phones to water damage in the past and was in search of a protective cover that could safeguard his phone against both heat and water.
Kevin drew inspiration from the space suits worn by NASCAR drivers and sought the help of his racing engineer contacts to create the first prototype.
With the assistance of his friend, Josh Inglis, who left his executive position at Home Depot to help create the company, they formed Phoozy. Kevin oversees the sales and marketing aspect of the company, while Josh is in charge of the operations.
The Phoozy covers not only offer thermal protection, buoyancy, and drop protection, but they also have the added advantage of inhibiting the growth of germs, which is particularly useful during the Covid pandemic.
The covers are available in various colors and are designed to fit almost every type of mobile device. They are sold on Amazon and through their website, with prices ranging from $34.99 to $69.99 for laptop cases.
What happen to Phoozy at the Shark Tank Pitch?
Kevin Conway and Josh Inglis appeared on Season 12 episode 19 of Shark Tank to pitch their company, Phoozy, in exchange for a $500,000 investment for 10% equity, which would value the company at $5 million.
They presented their story and made their pitch to the Sharks before providing samples. Phoozy had generated sales of over $1.5 million in 2019 and projected sales of $4.5 million in 2020.
During the pitch, Kevin mentioned that he had given up his spot at LeMans to participate in the show, which impressed the Sharks. While Mark Cuban declined to make an offer because he did not consider himself a “rugged outdoors type,” he referred to Inglis and Conway as “heroes” and praised their achievements.
Robert offered a $500,000 investment in exchange for a 4% royalty and a $1 royalty until he recouped the money. Lori offered the same deal but with a $1 royalty on each unit sold until she recouped $1 million. Kevin then offered $500,000 at a rate of 2.5% plus $1 for each unit sold, up to a maximum of $1 million.
When Kevin asked about a potential partnership between Lori and Robert, the two Sharks decided to team up and jointly invest $500,000 in exchange for a shared 8% equity stake. They also proposed a fee of $1.50 per unit sold until the $500,000 investment was recouped. Kevin and Josh accepted Lori and Robert’s offer.
Phoozy after the Shark Tank Pitch
Kevin Conway has projected a four-fold increase in sales after the show’s debut. Even after the Phoozy Shark Tank episode premiered in March 2021, the product has been receiving top-rated reviews on Amazon.
One consumer claimed that they had placed their phone under direct sunlight for almost four hours, and it hardly heated up. Another stated that their phone remained dry even after it was dropped in water by kids.
As of July 2021, the agreement between Lori and Robert has not been finalized, indicating that they are still performing their due diligence, and the episode’s first rerun is less than three months after its original air date of 4/21/2021.
The projected annual revenue for the company is estimated to be $4 million as of July 2021.
Phoozy Net Worth
Phoozy Net Worth Estimated $1.3 Million in 2021.
Phoozy Competitors
Waw Case is a competitor of Phoozy.
Phoozy Shark Tank Updates
Phoozy is a company that produces phone protectors made from NASA space suit materials that protect phones from extreme damage. The company appeared on Shark Tank in Season 12, Episode 19, and secured a deal with Lori Greiner and Robert Herjavec for $500,000 for an 8% stake in the business.
This was the second time the company had applied to Shark Tank after failing in 2018. The sharks were impressed with the sales numbers presented by the founders, with Phoozy generating over $2.2 million in sales in 2020 and expecting to end 2021 with $4.5 million in sales.
Since appearing on Shark Tank, Phoozy has experienced greater success, with sales increasing more than 400%. The company has continued to innovate and grow its product line, introducing anti-microbial Phoozies and protective Phoozies for laptops and tablets.
As of November 2022, the company’s annual revenue is $4 million. The founders have also reported that a significant Shark Tank effect has been retailers calling to stock their product.
Phoozy Shark Tank Table Summary:
| ITEM | AMOUNT |
| Phoozy net worth in 2021 | $1.3 million |
| Phoozy net worth in 2023 | $6 million |
| Investment deal | Lori Greiner and Robert Herjavec invested $500,000 for an 8% stake |
| Phoozy sales in 2019 | Over $1.5 million |
| Phoozy sales in 2020 | Projected $4.5 million |
| Phoozy projected annual revenue in 2021 | $4 million |
| Phoozy competitors | Waw Case |
Phoozy FAQS
What Is Phoozy And How Does It Work?
Phoozy is a gadget case that protects your phone, tablet, laptop, and personal essentials from damaging heat, battery-killing cold, accidental drops, and moisture.
The Phoozy is made of layered materials such as those used in space shuttles, spacesuits, and race cars that protect against heat, cold, and moisture. The Phoozy is not a phone cooler or phone heater, meaning it does not cool down a hot phone or warm up a cold phone.
It helps prevent overheating in the sun by reflecting solar radiation (heat) and extends battery life in cold by insulating your device from frigid conditions. The Phoozy is available in a variety of colors and styles and can be purchased online or in stores across the country.
The Phoozy is designed to keep your phone from overheating on hot days or freezing up on cold days. It also keeps your phone from sinking in water. The Phoozy XP3 is an enhanced version of the Phoozy that comes in silver, gold, and black, as well as Realtree camo and fishing patterns for $50.
The Phoozy is a popular gadget since it allows you to take your technology with you on outdoor adventures.
When people go on outdoor trips, they usually leave their phones or tablets at home because they are afraid that the elements will harm them. With Phoozy, you may keep your gadget cool in the sun or extend battery life in the cold.
What Materials Is Phoozy Made Of?
Phoozy is made of materials adapted from those developed by NASA to protect astronauts in the extreme environments of space. The Phoozy’s patented Chromium Thermal Barrier™ Technology utilizes these materials to protect gadgets from extreme temperatures, including heat, cold, and moisture.
The materials used in Phoozy are similar to those used in space shuttles, spacesuits, and race cars that protect against heat, cold, and moisture.
The Phoozy Thermal Capsules insulate phones, tablets, laptops, and personal essentials from damaging heat, battery-killing cold, and accidental drops. The Phoozy also floats in water, keeping the gadget on the surface if dropped in water.
What Was The Outcome Of The Phoozy Shark Tank Pitch?
Phoozy appeared on Shark Tank in Season 12, Episode 19, seeking a $500,000 investment in exchange for 10% equity, which implies a value of approximately $5 million.
The founders secured a deal with Sharks Lori Greiner and Robert Herjavec, who together agreed to invest $500,000 for an 8% stake and a royalty of $1.50 per unit sold until the investment was paid back.
However, in the end, the deal did not close. Since premiering on Shark Tank, sales of Phoozy have risen dramatically, with the founder reporting a more than 400% increase in sales. As of November 2022, the company’s annual revenue is $4 million.
The company has also introduced new products, including anti-microbial Phoozies and protective Phoozies for laptops and tablets.
What Happened To Phoozy After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Phoozy experienced great growth almost immediately, with sales increasing more than 400% since the show.
The company secured a deal with Sharks Lori Greiner and Robert Herjavec, who together agreed to invest $500,000 for an 8% stake and a royalty of $1.50 per unit sold until the investment was paid back. However, in the end, the deal did not close.
The company has continued to innovate and grow its product line, introducing new products such as anti-microbial Phoozies and protective Phoozies for laptops and tablets.
Phoozy has gone on to experience greater success since its appearance on Shark Tank, with the founders claiming an increase in sales of over 400% and annual revenue of $4 million as of November 2022.
The team over at Phoozy has stated that they plan that their success will give inspiration to others to pursue their very own entrepreneurial dreams.
Did Phoozy get a deal?
Kevin Conway was awarded a $500K loan at an interest rate of 8% plus $1.5 per unit until the loan is returned in full.
23 August 2021deal with Lori Greiner and Robert Herjavec for their thermal capsule technology.
Which Shark Tank episode was Phoozy?
Kevin Conway and Josh Inglis appeared the Shark Tank on Season 12 Episode 19 seeking $500,000 for 10% of their thermal protection cases.
They accepted a $500,000 offer from Robert Herjavec and Lori Greiner, which included an interest rate of 8% plus $1.5 per unit until the $500,000 was returned.
Where is Phoozy manufactured?
Phoozy, a Charlotte, North Carolina-based manufacturer of protective thermal covers for phones, tablets, and laptops, has become the latest outdoor brand to receive a significant investment on ABC’s iconic reality show “Shark Tank.”
Is the Phoozy effective?
3.0 stars Works, but with some assistance. They purchased this to prevent the battery on their phone from draining on cold weather treks.
Their battery died after a few minutes of sustained exposure on the ridge. They’d remove the phone from the Phoozy for a few seconds to shoot photographs or record a brief movie.
Who started Phoozy?
Kevin Conway – Co-Founder and Chief Executive Officer.
Is the Phoozy waterproof?
Phoozy Thermal Capsules float when submerged in water, allowing for simple and rapid retrieval. While they are not waterproof, they are resistant to water.
Is the Phoozy compatible with all smartphones?
Phoozy thermal capsules are compatible with all smartphone models.
Is the Phoozy only for smartphones?
Phoozy thermal capsules protect tablets and laptops as well.
Is there a cover for the phone that stops it from overheating?
Phoozy’s Chromium-infused “capsule” protects devices from both overheating and freezing in extreme temperatures – plus it floats.
Perhaps they have come upon this message? … In any event, iPhones – and cellphones in general – do not do well in severe environments.
Where is Phoozy located?
The company is based in Charlotte, North Carolina.
What if they drop their Phoozy into the water by accident?
If they accidentally drop their Phoozy into water, have no fear; simply remove their smartphone and flip their Phoozy inside out to air dry.
They should ensure that their Phoozy is totally dry before re-inserting their smartphone.
Is the Phoozy RFID-blocking?
The Phoozy does not include RFID blocking functionality. The Phoozy was designed to let signal transmission through the protective pouch, allowing consumers to stream music, utilize their wristwatch, and/or wireless ear buds / air pods.
Will the Phoozy cause their phone to heat up or cool down?
The Phoozy is not a phone cooler or a phone warmer; it does not cool down or warm up a heated phone.
It helps avoid overheating in the sun by reflecting solar radiation (heat) and prolongs battery life in the winter by shielding their device from freezing temperatures.
How long does it take to ship?
Orders are processed within two business days of receipt and normally ship through USPS within 2-4 business days.
All orders over $49.00 ship for free through USPS. USPS purchases under $49 normally cost between $3 and $5.
What size is the Phoozy?
Product Dimensions 7.87 x 5.12 x 1.18 inches.
How do they remove the Phoozy?
Phoozy can be removed one-handed using a simple twist and pull motion to remove from their device and place in pocket or purse.
A more detailed instruction sheet comes with each Phoozy purchase.
How do they clean the Phoozy?
They recommend wiping out the external surfaces of their Phoozy with a moist towel and a mild soap. Before usage, please allow their Phoozy to thoroughly dry.
Phoozy Thermal Capsules are not mechanically washable and should never be dried.
What is the Phoozy made out of?
The Phoozy Thermal Capsule is made from a combination of an insulating material and a highly reflective material.
The insulator is constructed of a proprietary material that is designed to work with both cold and hot temperatures.
The outside surface is made of highly reflective Chromium material that works to reflect inbound heat, this allows it to avoid freezing in freezing temperatures and avoid overheating in the summer heat.
What is the net worth of Kevin Conway?
Net worth is $1.9 million.
What is the net worth of Josh Inglis?
Unknown.
