Coffee Joulies Net Worth
Coffee Joulies Net Worth:- Coffee Joulies are little stainless steel “beans” that rapidly absorb heat. When poured into a cup of coffee, the Coffee Joulies substance — a “unique phase-change substance” — solidifies and maintains the ideal temperature for hours (140 F). Dave Petrillo and Dave Jackson, the owners of Coffee Joulies, proposed their firm on Shark Tank in 2013. They reached an agreement with four of the five sharks, including Kevin O’Leary, Lori Greiner, Daymond John, and Robert Herjavec. Petrillo and Jackson agreed to pay them $3 on wholesale units sold and $6 on retail units sold in exchange for a $150,000 investment. They would then continue to pay investors $1 per unit in perpetuity.
Dave Petrillo and Dave Jackson, both mechanical engineers from New Jersey, were responsible for the invention of Coffee Joulies. The Joulies were tiny stainless-steel capsules filled with an inventive substance that rapidly brought a hot beverage to a drinking temperature. The tablets would then retain the temperature of the liquid for an extended length of time.
Since appearing on Shark Tank, Coffee Joulies has expanded the brand by introducing Booze Joulies, stainless steel shells (similar to Coffee Joulies) that “freeze below the freezing point of water, making them literally colder than ice,” allowing a glass of (say) scotch to stay calm for an extended period without diluting the liquor.
They first raised funds via a Kickstarter effort in March 2011. Their objective was $9,500, which they met in three days. They had got a significant boost from Kickstarter towards the conclusion of the month-long campaign. Four thousand eight hundred supporters gave more than $300,000 to bring their idea forward. Their initial success and substantial financial support enabled them to complete the production process and transform their concept into a finished product.