What Happened to LiddUp After the Shark Tank Pitch?
What is LiddUp?
LiddUp is a cooler with built-in LED lighting. As a result, people can see which can or bottle they’re looking for when they lift the lid during a party late at night.
It has built-in LED lights that do not take up internal storage space and do not heat up the cooler. You also get a 360-degree inside view.
There’s also a small external light, but the LiddUp’s main selling point is that it works like a refrigerator, with the light turning on when the door is opened.
Who are the Founders of LiddUp?
Jayson Sandberg and Taylor Gwizadon founded LiddUp. Taylor is in charge of marketing, while Jayson is the CEO, and the two are still directors of LiddUp Coolers.
Jayson is the creator of LiddUp. While on a camping trip with his family, he had overindulged and craved a drink.
Because it was pitch black, he looked for a drink. He debated turning on the light in the cooler. As a result of his ‘aha moment’ with his friend Taylor, LiddUp was born.
The LiddUp Cooler isn’t an entirely new product, but Jayson has improved on one that was already on the market.
After creating the improvement, they took for patents to protect the invention, bearing in mind its uniqueness. They made sure that connecting the lamp didn’t reduce the cooler space or heat the drinks.
What Happened to LiddUp at the Shark Tank Pitch?
In season 4 episode 21, Jayson Sandberg and Taylor Guiazdon participate on Shark Tank in exchange for a $100,000 investment and a 10% share in the company. This suggests a $1 million valuation.
The item is simple to use and surprisingly beneficial.
“Why would we want to do business with a couple of nefarious and greedy people like you?” Daymond John says this, referring to the beers they grabbed from the cooler and didn’t share.
The serious business chat began after the laughter stopped and the beverages were passed around.
Kevin O’Leary jumps right in, questioning the $1 million valuation. As Sandberg explains, “we had to start somewhere,” the Sharks laugh.
Their value, on the other hand, is predicated on unstable ground if they don’t sell.
The fact that the couple owns three patents elevates the case from the realm of possibility to the realm of possible value.
The trio intends to license its patented process to one of the three major cooler manufacturers currently on the market.
They’re hoping to catch a Shark to help with the debates.
Daymond John claims that the price is too high. He’s no longer here.
Lori Greiner finds the device “interesting,” but she does not believe it will find a large market. She’s no longer here.
Robert Herjavec talks about working with one of the world’s most well-known tent and cooler manufacturers. He offers $100,000 in exchange for a quarter-share of the company.
“Say yes before he changes his mind,” Mark Cuban says as he walks away.
Before Herjavec can declare victory, Kevin O’Leary enters the fray. In exchange for a third of the proceeds from licensing to a cooler manufacturer, he offers $100,000.
When the couple requests a meeting time, Herjavec withdraws his invitation. They take O’Leary’s offer, and LiddUp is given a Shark Tank deal.
What Happened to LiddUp After the Shark Tank Pitch?
O’Leary is showing teeth all the way to the bank with Igloo’s announcement that they would release a licensed LiddUp type cooler in 2015, branded under the title The Party Bar.
LiddUp appears to be a Shark Tank hit, and the duo is well on their way to becoming millionaires.
Jason and Taylor continued to improve the technology by designing intelligent lights that stay longer, glow brighter, and can be customized with various colors.
Walmart, Target, Dick’s Sporting Goods, and Sam’s Club all carried unique LED technology items.
Orca licensed the technology for their LiddUp cooler brand after the Igloo partnership ended in 2018. Sandberg’s LinkedIn profile still displays him as CEO, despite the fact that the firm’s website is no longer functioning as of July 2021.
They shut down the company in November 2021.
What is the Net Worth of LiddUp?
As of June 2021, LiddUp was predicted to be worth $500 million.
Who are the Competitors of LiddUp?
There are no competitors for LiddUp that have been identified.
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LiddUp FAQS
What is LiddUp?
LiddUp is a cooler that works as a refrigerator, with the light turning on when the lid is opened.
What type of companies is LiddUp?
LiddUp is an electronics company that manufactures appliances.
Who are the founders of LiddUp?
Taylor Guizadon and Jayson Sandberg founded LiddUp Coolers in 2016 after a weekend camping trip when they couldn’t find beverages in the dark.
Where was LiddUp founded?
LiddUp was founded in Pflugerville, Texas, United States.
How much was LiddUp seeking in the Shark Tank?
LiddUp was seeking $100,000 for 10% of the company.
How much did LiddUp get from the Shark Tank Deal?
Kevin offered $100,000 in return for a third of the proceeds from licensing to a cooler maker.
What happened to LiddUp after the Shark Tank Pitch?
LiddUp appears to be a Shark Tank hit, and the duo is well on their way to becoming millionaires.
Jason and Taylor continued to improve the technology by designing intelligent lights that stay longer, glow brighter, and can be customized with various colours.
Walmart, Target, Dick’s Sporting Goods, and Sam’s Club all carried the unique LED technology items.
Is LiddUp still in business?
Sandberg’s LinkedIn profile still displays him as CEO, despite the fact that the firm’s website is no longer functioning as of July 2021.
They shut down the company in November 2021.
When was LiddUp found?
Jayson founded LiddUp in 2013.
What happened to LiddUp on Shark Tank?
LiddUp Coolers received a license contract with Igloo as a result of their Shark Tank experience, thanks to O’Leary.
Where is LiddUp headquarters?
LiddUp’s headquarters are in Las Vegas, Nevada, USA.
