Phoozy Shark Tank Update | Phoozy after the Shark Tank Pitch
What is Phoozy?
Phoozy is a brand of thermal-protective phone covers constructed entirely of NASA space suit material. The cases (which are also available for laptops and tablets) safeguard against excessive heat and cold and are “sink resistant” and “drop proof.”
Conway, a former NASCAR driver, missed a vital call in 2016 while on his yacht due to his phone overheating.
Kevin also admits to leaving a couple phones on the bottom of the lake in the past. He went in search of a koozy to protect his phone from heat and water but couldn’t find one.
Kevin was familiar with NASA’s space suit material from his racing days — NASCAR drivers wear similar suits.
Thermal protection (from extremes of heat and cold), buoyancy, and drop protection are all included in the cases.
He received assistance with the prototype from his racing engineer contacts and formed the corporation with the assistance of his buddy, Inglis.
Conway is in charge of sales and marketing, while Inglis, who left his position as an executive at Home Depot to create the company, is in charge of operations.
They now manufacture a Phoozy for computers, tablets, and smartphones. Additionally, they inhibit germs, which is a Covid-related advantage.
Prices for phone cases range from $34.99 to $69.99 for laptop cases.
The covers are available in a number of colours, and they cover practically every type of mobile device.
They sell a large number of items on Amazon and through their website.
Who is the founder of Phoozy?
Kevin Conway and Josh Inglis.
What happen to Phoozy at the Shark Tank Pitch?
Kevin Conway and Josh Inglis, the creators of Phoozy, pitched their firm on Season 12 episode 19 of Shark Tank, seeking a $500,000 investment in exchange for 10% equity. This indicates a valuation of $5 million.
They convey their narrative and make their pitch to the Sharks before handing out samples.
Phoozy generated over $1,500,000 in sales last year (2019) and expects to reach $4,500,000 in sales this year (2020).
When Kevin informs the Sharks that he gave up his spot at LeMans to participate on the show, they are blown away.
Mark Cuban, who declined to offer them a deal because he is not a “rugged outdoors type,” referred to Inglis and Conway as “heroes” and complimented them on their successes.
Robert offers them $500,000 in exchange for a 4% royalty plus a $1 royalty until he recoups the money.
Lori offers $500,000 in exchange for a 4% royalty plus a $1 royalty on each unit sold until she recoups $1 million.
Kevin then offers $500,000 at a rate of 2.5 percent + $1 each unit, up to a maximum of $1 million.
When Kevin inquires about Lori and Robert forming a partnership.
Lori and Robert decide to team up during discussions and propose to jointly invest $500,000 in exchange for a shared 8% equity stake.
Additionally, they want a fee of $1.50 every unit sold until the $500,000 is returned. Kevin and Josh took Lori and Robert up on their offer.
Phoozy after the Shark Tank Pitch
Kevin Conway estimates a 400% boost in sales following the show’s initial airing.
Following the initial airing of the Phoozy Shark Tank episode in March 2021, the goods continue to receive 5-star reviews on Amazon.
“I placed my phone on the edge of our pool in bright sunshine for nearly four hours and it was hardly warm,” one customer stated.
My phone remained dry when the kids dropped it in the water.
Lori and Robert’s arrangement has not been finalized as of July 2021.
The first re-run of this episode occurs less than three months after its original air date of 4/21/2021, indicating that they are still conducting due diligence.
Annual revenue is expected to reach $4 million as of July 2021.
Phoozy Net Worth
Phoozy Net Worth Estimated $1.3 Million in 2021.
Waw Case is a competitor of Phoozy.
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.
What exactly is a Phoozy?
The Phoozy is a thermal capsule that shields their phone from the sun’s harmful rays and extreme temperatures.
Prevents sunlight overheating designed using NASA technology, it reflects the sun in hot weather and insulates their phone in cold weather.
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?