What happened to Cool Wazoo After the Shark Tank pitch?
What is Cool Wazoo?
Cool Wazoo is a multi-purpose baby cover that may be used as a diaper changing pad, restaurant high chair cover, grocery cart cover, car shade, or bucket swing seat insert.
Who is the Man behind cool wazoo?
Ginelle Mills, a mother and business owner, founded The Cool Wazoo in 2009. Prior to starting her own agency, Ginelle worked as a project director at Cooper Roberts Research, supporting large food companies in testing new products on prospective clientele.
Ginelle is presently the President and Chief Executive Officer of Cheerful Child LLC.
Ginelle created the Cool Wazoo when visiting a park with her child and seeing that a metal park swing had burned her daughter’s skin.
While looking for a way to cover the swing, Ginelle realized that her diaper bag was stuffed with various plastic covers, including a shopping cart cover, a highchair cover, a vehicle shade, and a changing pad.
Ginelle developed the concept for The Cool Wazoo at this point; she wanted to make a practical and strong five-in-one product that could be folded and packed easily in a diaper bag.
Ginelle designed the Cool Wazoo to assist busy parents in saving time and money.
Unlike other baby products that last only a few months, The Cool Wazoo is both large and resilient, enabling it to grow with your child.
Its goal is to make parenting and child rearing simpler and safer.
What Happened to Cool Wazoo on Shark Tank?
Ginelle comes on Shark Tank season 4 episode 8 in pursuit of $65,000 in exchange for a 25% share in Cool Wazoo. This translates to a $325,000 valuation.
She needs the money to buy inventory, but she scares the Sharks away by admitting that she has already invested $96,000 in the company.
Lori inquires about the quantity of orders, and Ginelle responds that she had received around $14,000 in sales at the time.
Ginelle told him that she had made $20,000 the previous year. She claimed that the low amount was due to a lack of inventory on her part.
In the United States, a cool Wazoo costs $30 per unit.
Ginelle indicated that she is selling each item separately. The cost is $65.95. Robert asked if she worked in the wholesale sector.
Ginelle’s wholesale price was quoted to be $32.50. Mark left, claiming that she only made $2.50 on each wholesale unit.
Robert expressed his reluctance to follow Ginelle on her incredible journey. He went away after stating that it was not for him.
Mr. Wonderful is also out since he can’t figure out what it’s supposed to be.
Daymond has withdrawn because he thinks he has nothing to offer. Lori enjoys Ginelle but is unsure about the product, so she departs. Mark, who does not want to pay for Ginelle’s business education, also withdraws.
Ginelle bursts into tears when all of the Sharks are eliminated. She opens her guts on the sacrifices she’s made to grow her business.
Lori’s emotions are touched by the emotional pitch, and she responds with a $65K for 25% offer.
Lori went on to say that she would help cut the price and learn how to create it more effectively.
Lori is certain that they will find a solution. The two females hug each other in a passionate embrace.
What Became of Cool Wazoo After Shark Tank pitch?
Lori’s contract never got finished. Ginelle continued to sell in the immediate aftermath of the event through her website, which was revamped in the aftermath of her involvement and now includes a Shopify ecommerce store.
There have been little modifications to the website or business Facebook page, which is likely due to Ginelle’s trade show appearances.
Cool Wazoo has a booth at the San Francisco International Buyers Show in February.
In September 2015, she licensed the product to Kids 2, who distributes it as Comfort and Harmony in Babies R Us stores. The specifics of the licensing deal were not disclosed.
In March 2020, she created Box Parties, a virtual baby shower business.
What is the Cool Wazoo’s Net Worth?
Ginelle comes on Shark Tank season 4 episode 8 in pursuit of $65,000 in exchange for a 25% share in Cool Wazoo. This translates to a $260,000 valuation
Accepting Lori’s offer of $65,000 for a 25% ownership, bring the valuation to be $260,000.
Who are the Cool Wazoo’s Competitors?
Cool Wazoo does not have any competitors.
Cool Wazoo FAQS
1. Does Cool Wazoo make money?
Rest assured, Cool Wazoo is a “profitable” company. They have made in excess of $20,000 through online sales since 2009.
2. Who is Ginelle Mills?
Ginelle Mills, a mother and business owner, founded The Cool Wazoo in 2009. Prior to starting her own agency, Ginelle worked as a project director at Cooper Roberts Research, supporting large food companies in testing new products on prospective clientele.
Ginelle is presently the President and Chief Executive Officer of Cheerful Child LLC.
3. How much does a Cool Wazoo cost?
The cool Wazoo costs $65 and is now available at Babies R Us and Amazon.
4. What is the wholesale price for Cool Wazoo?
The wholesale price for Cool Wazoo is $32.50.
5. How does a Cool Wazoo make money?
The company makes money through online sales and licensing agreements.
6. How much was Ginelle Mills asking in the Tank?
Ginelle came on Shark Tank seeking $65,000 for a 25% stake in her company. This translates to a $260,000 valuation.
7. How much was given in the Tank?
Lori offered $65,000 for 25% of Cool Wazoo.
8. Where can they buy a Cool Wazoo?
They can purchase a Cool Wazoo at Babies R Us and Amazon.
9. What happened to Lori and Cool Wazoo deal?
Lori’s contract was never completed. Ginelle continued to sell in the immediate aftermath of the event via her website, which was redesigned following her participation and now includes a Shopify ecommerce store.
10. What happened to Cool Wazoo?
In September 2015, Ginelle Mills licensed the product to Kids 2, who distributes it as Comfort and Harmony in Babies R Us stores.
The specifics of the licensing deal were not disclosed.
In March 2020, she created Box Parties, a virtual baby shower business.
11. Where are Cool Wazoo located?
The company is based in Walnut Creek, California.
