FOAM Coolers, a lightweight cooler founded by Chad Lee and David Kittle, aired on the 16th season of Shark Tank USA in 2024. The founders were seeking $150,000 for 10% equity for their business. However, they secured a deal with Daymond John, which was $150,000 for 30% equity, valuing the company at $500K. In this article, we will explore FOAM Coolers Net Worth in 2025, details of the Shark Tank pitch, and more.
FOAM Coolers Net Worth 2025 & Financial Overview
After the show aired, the company experienced significant sales, with an estimated growth rate of 10% per year. Based on the company’s growth rate and valuation after the Shark Tank show, FOAM Coolers Net Worth is estimated at $1.27 million in 2025.
| Annual Sales Revenue | $500K (As of 2024) |
| Profits | Not Available |
| Lifetime sales | Not Available |
FOAM Coolers Shark Tank Pitch
Chad and David, the founders of FOAM Cooler, walked into the Shark Tank with big energy and a clear mission. They wanted to shake up the cooler market by offering something more practical for everyday use. There, the founders asked $150,000 for 10% ownership, valuing their company at $1.5 million.
This cooler is lightweight and easy to carry. It can hold up to 22 quarts, giving you enough space to pack drinks, snacks, and ice. It’s also perfect for beach trips, pool days, or hanging out at the lake. Moreover, the second-generation model weighs just 4 pounds and has outside dimensions of 12 by 12 by 12 inches so that you can fit around 30 cans inside.
Further, the FOAM Cooler has smart features like a floating lid that doubles as a serving tray. It also comes with a strong webbed handle that makes carrying it easy, even when full.
The Sharks couldn’t stop laughing during the fun, high-energy pitch. Chad and David handed out samples of their FOAM Cooler, which grabbed the Sharks’ attention right away. Then, the judges began asking questions one by one.
Kevin wanted to know where they planned to sell the cooler. David explained that they started with direct-to-consumer sales but wanted to get the product into big stores like Target.
Then they said the buyers liked the FOAM Cooler so much that he placed an order for 97 stores. Asking that story, while the Sharks were impressed by the deal, they still had concerns. They also wanted to know if the product would perform well on store shelves and attract buyers in a retail setting.
When the sharks talked about its cost, David explained that it costs about $25 to make each cooler. The wholesale price is around $50, depending on how they sell it. When sold directly to customers, the retail price is $99.
Also, when the Sharks asked about sales, Chad and David shared their numbers. So far this year, FOAM Cooler has brought in $114,000 in revenue. Just before their Shark Tank pitch, they also secured a new order worth $137,000. That brought their total sales for the year to $251,000.
Although Lori Greiner liked the cooler, she didn’t see it as the right investment, so she decided not to make an offer. Mark Cuban also liked the cooler but felt the risk didn’t match the potential reward, so he chose not to invest as well.
Guest Shark Todd Graves believed one of the other Sharks would provide a better deal, so he also stepped out. However, Kevin O’Leary was willing to take a chance. He then offered $150,000 for 33.3% of the company.
Then Daymond John jumped in with a competing offer, $150,000 for 30% equity. But at that moment, Chad and David didn’t accept the offer in the right way. Instead, they countered both Sharks with a new offer, which was $150,000 for 17% of the business. But neither Kevin nor Daymond moved from their original offers.
The entrepreneurs were supposed to present another counteroffer. This time, they offered $150,000 for 25% equity in Daymond’s initial deal. But Daymond didn’t change his original offer. Then, Chad and David had to make a decision, so they finally agreed to Daymond’s initial offer, which was $150,000 in exchange for 30% of FOAM Cooler.
| Company Name | FOAM Coolers |
| Founders | Chad Lee and David Kittle |
| Business | Lightweight foam cooler |
| Episode | Season 16, Episode 06 |
| Asked Deal | $150,000 for 10% equity |
| Final Deal | $150,000 for 30% equity |
| Shark | Daymond John |
Summary of the Sharks’ Deal
| Shark | Offer | Counteroffer |
| Daymond John | $150,000 for 30% equity | 01 – $150,000 for 17% equity 02 – $150,000 for 25% equity (Accepted Offer) |
| Kevin O’Leary | $150,000 for 33.33% equity | $150,000 for 17% equity |
| Mark Cuban | No | N/A |
| Lori Grinear | No | N/A |
| Todd Graves | No | N/A |
What Happened to FOAM Coolers after Shark Tank?
As of 2025, FOAM Coolers is still in business. After their appearance on Shark Tank, FOAM Coolers continued to grow. They partnered with Koozie Group to get their coolers into more stores and reach more customers.
In November 2024, they rolled out their Gen 2 models, offering more color choices and better prices. These new coolers come in seven colors, including a fresh cherry red, and sell for $125 but often sell for $109 after discounts. Customers can also save 10% on their first order by signing up for the FOAM newsletter.
FOAM also sells accessories, such as a shoulder strap for $19.99, a 5-sticker pack for $7.99, a structured twill cap for $20, and a short-sleeve t-shirt for $21.
In September 2024, they connected with surf fans at the Surf Expo held at the Orange County Convention Center in Orlando, Florida. They also appeared at the Atlanta Market in June 2024.
The co-founders monitor customer feedback and plan to expand their product line. They are also working to expand their reach and make FOAM Coolers easier for more people to find. Right now, the brand has about 2480 followers on Instagram and nearly 1000 on Facebook.
While the company still sells directly through its website, Chad Lee and David Kittle have also placed their coolers in some Target stores in Florida, Arizona, and California. They are now working to expand even further by teaming up with more big retailers and licensing partners. You can even buy a FOAM cooler on Amazon in five color options for $99.
FOAM Coolers Founders
Chad Lee and David Kittle are the founders of FOAM Coolers, which started in 2022. They noticed that most coolers, like beach trips and picnics, were too heavy and expensive for everyday fun. To fix this, they designed a lightweight, affordable cooler that makes outdoor activities easier and more enjoyable. They aim to offer strong, easy-to-carry coolers that improve every adventure outside.
Chad has helped design products for big brands like Coleman, Hallmark, and Petmate. David has also created many products for well-known companies in different industries. His work earned a spot on TIME magazine’s “Best Inventions of 2019” list. Chad Lee and David Kittle’s net worth is unknown as of 2025.
Conclusion
Shark Tank is a TV show that showcases different business ideas and helps them succeed. FOAM Coolers was one of the ventures featured on the show. They made a deal with Daymond John, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
