“Chill Systems” got featured on Shark Tank America on 2021 March. It was founded by Chase Mitchell and Brian Bloch.
Chill Systems Net Worth in 2022
Here is an update on Chill Systems’ net worth so far.
|Chill Systems’s Net worth before appearing on Shark Tank||1 Million USD (business valuation)|
|Chill Systems’s Current Net worth (2022)||4 Million USD|
Chill Systems’s founders Chase Mitchell and Brian Bloch have a net worth of 4 Million USD as of 2022.
We all love to travel far away no matter what lifestyle we follow. Also, food and drinks are one of the main factors we consider when traveling. Not only that keeping the foods hot and drinks cold is important. Then you should know about Chill Systems.
What is Chill Systems?
Chill Systems is a portable drink cooler designed for lighter weight and smaller sizes. So, It’s easy to carry as it’s ice-free. Not only that it comes in different colors and designs that the user easily can choose according to their desire. It’s designed with a cooling gel and can cool around 6-12 ounce cans and a 750 ml wine bottle.
Who is the owner of the Chill Systems?
Chase Mitchell and Brian Bloch are the founders and the owners of the Chill System. Chase previously worked as a sales associate at Google while Brian worked as a finance employee at apple finance.
What happened at the Shark Tank?
Chase Mitchell and Brian Bloch appeared in the Shark Tank Season 12 episode 17. They were hoping for $ 150000 for 15% of their company. The Sharks Were provided with a cooling drink as samples.
They described how they develop the product and the cost they spend. So, the Sharks were not impressed when they told Mark Cuban it cost $18 to build. Also, all of them were surprised after hearing Ice, was the primary competitor. So Lori Greiner decided to stay out of the deal. Then Mark followed him.
After hearing this sharks claimed that there are plenty of beverage chillers that carry more beverages. Daniel Lubetzky said products were not up to their merits. Then Robert Herjavec mentioned the credibility lapses and Kevin O’Leary simply said it’s a bad idea. So all the Sharks decided not to invest. Then the Chill systems had to leave the show without a deal.
Chill Systems Shark Tank update
Chase entered the show firstly and Brian followed him a little bit late. He was with a usual chill systems cooler with an ice bag. He said he was late because he had to stop to buy ice. They had started their business with the fund of $53172 from Kickstarter.
It develops with ice-free technology consisting of tubes with freezing gels. The carrying strap and the chiller pack come in different colors. The chiller is sold at price between $ 49.95- $ 59.95 and the production cost is around $18.
Because of the high production cost and the competition because there are options sharks decided to stay out of the deal.
What happened to the Chill Systems after the Shark Tank
As other products appeared on the show Chill system got more attention after the show. They featured products on Chill System Instagram and Facebook pages. Not only that they are promoting and selling their products on their official site and on Amazon.
Even the company left without a deal from the Shark Tank company increased sales gradually. Also, it reached around 4 million dollars in net worth in 2022. The Chill Systems is still in business and attracting more customers day by day.
Competitors of the Chill Systems
The primary competitor of the chill systems is Ice itself. Also, few companies are emerging with products with the same use.