Best of Shark Tank

Bottle Keeper – Beer Protector – Update

SEASON 10 EPISODE 6

PITCH

stainless steel bottle holder that keeps beer cool and protected from falls

ENTREPRENEUR

Adam Callinan and Matt Campbell

ASKED FOR

$1 million for 5%

GOT

$1 million for 5% + $2.50 royalty until $2 million is repaid

SHARK

Mark Cuban and Lori Greiner

STATUS

IN BUSINESS

Bottlekeeper is a stainless steel bottle wrapped with neoprene and cushioned to grip a glass bottle and shield it from breaking if it dropped. The idea was generated by Matt Campbell and Adam Callinan and launched the company in 2013. The El Segundo, CA, uses a superstructure that resembles ordinary aluminum to hold beer bottles and keep the beers cold by insulating them from outside temperatures.

Inspiration

When relaxing at the beach with his uncle, Matt tried to enjoy his beer under the hot sun. Minutes after pouring it on his red party cup, the beer bubbled and became warm, ruining the moment for Matt, who wanted to enjoy his beer cold. To find a solution to his unfortunate experience, Matt resorted to putting his beer in something close to stainless steel water bottles to keep it cold. The idea of Bottlekeeper sparked. The two co-founders understood the disappointment of cold beers warming up and desired to find a solution to the situation.

Sales before appearing on Shark Tank

The two co-founders started Bottlekeeper with a fruitful Fundable campaign that raised $13,928. In August 2014, the two cousins put a video on their Facebook page that saw their income increase from monthly sales of $23000 in August to $60,000 in the first two weeks of December. They mainly made sales on their website and Facebook page. Later, Bottlekeepre introduced Pinterest after realizing that their leading customer group was women between 35-60 years. Before appearing on Shark Tank, the company had made sales over $1 million in the past ten days and $2 million in the past 30 days at the time of taking records in June 2018. They made over $10 million after releasing Bottlekeeper 2.0 with a bottle opener and powder wrapped outside. Further, they had made over $20 million over the previous three years. They needed an inflow of capital to scale the company to the next level, which enthused them to pitch on the Shark Tank.

Bottlekeeper on Shark Tank

Matt Campbell and Adam Callinan come to the Shark Tank looking for $1 million in exchange for a 5% partnership in the company. Two sharks, Mark Cuban and Lori Greiner, were impressed and sealed a deal with Matt and Adam for $1 million for 5% plus $2.50 royalty until $2 million, is repaid which they accepted.

Bottlekeeper after their appearance on Shark Tank

The company was motivated by their customers and got numerous positive reviews and hype on social media platforms. Twenty-four hours after the show’s airing, their sales went certifiably wild with a 300% spike. The company staff worked overtime to match the customer demands, which called for an increase in its number.

Current status

The Bottlekeeper Company has added novel products popular with cold drink enthusiasm that are sold on its website. They include Cankeeper and Pintkeeper, meant to keep different beverages cold. The company recently partnered with the award-winning Phoozy creators in making iPhone cases from spacesuit material that prevents the phones from overheating in warm weather. The company has experienced exponential growth over the years and enjoys a steady influx of revenue with unique products.


Buy on Amazon Visit the Bottle Keeper website

Leave a Comment