Phoozy: What Happened After Shark Tank

Phoozy: What Happened After Shark Tank

The Phoozy is a line of thermal-protective phone covers manufactured using NASA spacesuit fabric. The covers (which are also available for laptops and tablets) protect against heat and cold, as well as being “sink resistant” and “drop-proof” [1].

After appearing on Shark Tank in 2015, the company secured a deal with Mark Cuban and has since gone on to become a successful business. In the years since their appearance on the show, the Phoozy team has continued to innovate and grow their product line.

Today, the Phoozy is available in a variety of colors and styles and can be purchased online or in stores across the country. If you’re looking for a way to protect your devices from the elements, Phoozy is definitely worth checking out!

Phoozy: What Happened After Shark Tank

The company has also been featured in major publications such as Forbes, Entrepreneur, TIME, Mashable, and more. 

If you’re a fan of Shark Tank, then you know about the Phoozy. This innovative product was featured on the show and quickly became a favorite of the sharks. But what happened to Phoozy after Shark Tank? We’ll give you a little update on what the company has been up to since their appearance on the show.

The Phoozy Pitch

The creators of Phoozy, Kevin Conway and Josh Inglis, are well aware of the significance of excellence and winning – literally. Charlotte native Kevin Conway and his longtime Atlanta-resident friend, Josh Inglis, formed Phoozy, as a result, of pure aggravation.  The two met while playing on the same ultimate Frisbee team and quickly bonded over a shared love of the outdoors and their hatred of broken phones.

Conway is no stranger to business. He started his first at 13 – mowing lawns – and went on to launch an online women’s clothing boutique in college. Inglis comes from a family full of entrepreneurs and has always been driven to start his own company. So when the two decided to join forces, they knew they had something special.

After all, Kevin was tired of his phone overheating and shutting down during the summer months or freezing over during the winter. He understands how a dead device may redirect nature as the CEO of a firm and, more significantly, as a professional racecar driver at the highest levels of motorsports, including NASCAR.

The Phoozy is a gadget case formed of layered materials such as those used in space shuttles, spacesuits, and racecars that protect against heat, cold, and moisture. In reality, this sleeve will keep your gadget floating on the surface if you drop it in water. Furthermore, Phoozy delivers military-grade drop protection, which means no scruff, scratches, or glass shards.

The Phoozy Pitch

The Phoozy XP-XS is available for iPhones, the Phoozy XL for plus-sized phones, and the Phoozy Thermal Capsule for laptops.

After their successful appearance on Shark Tank in 2015, Mark Cuban invested $500,000 in the company for a 20% stake. The two entrepreneurs have raised a total of $850,000 to date [2].

What Happened to Phoozy After Shark Tank?

In Season 12 Episode 19 of Shark Tank, entrepreneurs Ryan Brennan and Brandon Smith pitched their company Phoozy to the Sharks, seeking a $500,000 investment in exchange for 10% equity. This implies a value of approximately $5 million. Before distributing samples, they tell their story and make their case to the Sharks.

Phoozy has already made over $1,500,000 in sales (2020) and expects to reach $4,500,000 the previous year (2021). This is a drastic improvement from the $500,000 in sales they made in 2018.

The crew is thrilled when Kevin explains that he traded his chances to compete in LeMans for the opportunity to appear on the program. He has raised $500,000 for 20% of his company from Mark Cuban. Since their appearance on Shark Tank, Phoozy has made over $850,000 in sales and is available in stores across the country.

After Inglis and Conway accepted his offer, Cuban dubbed them “heroes” and praised their achievements, as did fellow billionaire Mark Cuban, who refused to offer them a deal because he is not a “rugged outdoors person”.

Robert offers them $500,000 in exchange for a 4% royalty plus a $1 royalty. Lori is offering $500,000 in exchange for a 4% royalty and $1 royalties on each unit sold until she earns back $1 million.

What Happened to Phoozy After Shark Tank?

When asked if she would be interested in working with him, Lori replies that she might be able to assist with her expertise. She suggests they team up and offer a total of $500,000 at a rate of 2.5 percent plus $1 per unit, up to a maximum of $1 million. When Kevin asks about the possibility of Lori and Robert forming a partnership.

During discussions, Lori and Robert decide to collaborate and offer to invest $500,000 together in return for a shared 8% equity interest. Additionally, they want $1.50 per unit until the $500,000 is returned. Kevin and Josh accepted Lori and Robert’s invitation [3].

After creating a prototype for Phoozy, Kevin contacted his long-time friend and Ivy League MBA graduate Josh Inglis and persuaded him to join the Charlotte, North Carolina-based firm. With Josh as the COO, they began to advertise their product as the only true solution for all of the hikers, divers, skiers, and long-drive travelers’ gadget difficulties.

Since then, they’ve continued to innovate and grow their product line. Today, the Phoozy is available in a variety of colors and styles and can be purchased online or in stores across the country.

The fact that their product offers added functionality such as extending cell phone battery life, drop protection from 9 feet high, and antibacterial protection just helped them sell it better. Device Decontamination Wipes and Attachment Straps are also available through the firm [4].

Interesting Facts about Phoozy:

  • The company has been growing rapidly and expanding its product line;
  • In 2020, Phoozy launched several new products, including the Phoozy Thermonuclear Charger and the Phoozy Apollo Capsule;
  • The Thermonuclear Charger is a battery case that extends the battery life of your phone by up to three times. It also protects your phone from extreme temperatures, whether it’s hot or cold;
  • The Apollo Capsule is a waterproof and floatable case for your camera or any other small electronic device;
  • Since their appearance on Shark Tank, Phoozy has made over $850,000 in sales and is available in stores across the country;
  • Lori and Robert decide to collaborate and offer to invest $500,000 together in return for a shared equity interest;
  • Kevin and Josh accepted Lori and Robert’s invitation;

The Future of Phoozy

The Future of Phoozy

The company plans to continue growing and expanding its product line. In the future, Phoozy may offer more products that protect devices from extreme temperatures and other environmental conditions. Phoozy is always innovating and coming up with new ways to protect your devices.

Phoozy is a popular gadget since it allows you to take your technology with you on outdoor adventures. When people go on outdoor trips, they usually leave their phones or tablets at home because they are afraid that the elements will harm them. With Phoozy, you may keep your gadget cool in the sun or frost-free in chilly temperatures [5].

What Is The Net Worth of Phoozy?

Kevin O’Leary, Lori Greiner, and Robert Herjavec all rushed to invest in Phoozy after seeing it succeed. However, it was Lori and Robert who ultimately prevailed. The two would choose to join forces for just 8% ownership and $500,000 in cash. Although they did request a $1.50 royalty per item until Phoozy repaid $500,000. As of 2020, the company is worth an estimated $16 million.

Kevin Conway gave up his seat at Le Mans to appear on Shark Tank, and you’ll be relieved to hear that our Phoozy update has good news. Since premiering on Shark Tank, sales of Phoozy have risen dramatically. According to the founder, sales have increased more than 400% since it aired and the company has yet to slow down.

As a result of this, as well as the collaboration with Robert and Lori, Kevin forecasts that Phoozy will add new products in 2017 and 2018 while also expanding distribution methods and attempting to boost brand awareness.

At the end of 2021, Phoozy’s earnings are projected to be $7.1 million – way beyond what Kevin had predicted when he first met with him [6].

FAQ

Where is Phoozy manufactured?

Phoozy is a line of high-end smartphone, tablet, and laptop accessories. The firm is located in Charlotte, North Carolina [7]. Phoozy was created by Kevin Conroy, who is an avid outdoorsman and noticed a need for better device protection when he accidentally left his phone in the sun.

Is the Phoozy effective?

Yes, the Phoozy is effective in protecting your device from extreme temperatures. The company has a number of patents for its technology (eight to be exact).

The Phoozy has been featured on CNN, Fox News, Huffington Post, CNET, and more. It was also a CES Innovation Awards Honoree in 2019.

So far, the company has sold over 200,000 units and is available in stores across the country.

Is the Phoozy waterproof?

Yes, the Phoozy is waterproof. After coming up with the initial idea for Phoozy, it took Conway and Inglis nearly two years to bring their product to market. The biggest challenge was finding the right material.

While looking for materials, they consulted with experts in thermal protection from NASA. They eventually found a materials scientist who had been working on something similar for the Department of Defense.

Is the Phoozy compatible with all smartphones?

The PHOOZY Thermal Capsules are compatible with all major phone models (including those without cases), tablets, and small laptops [8].

Is the Phoozy only for smartphones?

No, the Phoozy is not only for smartphones. The company plans to expand its product line to include more products that protect devices from extreme temperatures and other environmental conditions.

Is the Phoozy RFID-blocking?

The PHOOZY does not offer RFID protection. Customers can listen to their music via streaming services such as Spotify and use their smartwatch and/or wireless earbuds/AirPods since the PHOOZY was built to allow signals to go through the protective pouch.

Will the Phoozy cause their phone to heat up or cool down?

The Phoozy will not cause your phone to heat up or cool down. The company’s patented technology is designed to reflect heat and cold away from your device.

What size is the Phoozy?

The Phoozy is available in three sizes [9]:

  • Small (fits phones up to the iPhone SE);
  • Medium (fits phones up to the iPhone 11 Pro Max and Galaxy Note 20 Ultra);
  • Large (fits tablets up to the iPad Air and laptop computers up to 13 inches);

The Phoozy also has a clip that allows you to attach it to your belt, bag, or backpack.

How do they remove the Phoozy?

To remove the Phoozy, simply unzip it and take your device out.

How do they clean the Phoozy?

You can clean the Phoozy with a damp cloth. Do not put the Phoozy in the washing machine or dryer.

Useful Video: Shark Tank US | Two Sharks Team Up To Make Phoozy A Deal

References:

  1. https://biznewske.com/phoozy-shark-tank-update
  2. https://thecinemaholic.com/update-on-phoozy-from-shark-tank
  3. https://biznewske.com/phoozy-shark-tank-update
  4. https://thecinemaholic.com/update-on-phoozy-from-shark-tank
  5. https://insidergrowth.com/phoozy-net-worth
  6. https://www.sharktankrecap.com/phoozy-phone-protector-update-shark-tank-season-12
  7. https://www.datanyze.com/companies/phoozy/453159815
  8. https://phoozy.com/pages/phoozy-sizing-guide
  9. https://phoozy.com/pages/phoozy-sizing-guide