|SEASON 4 EPISODE 6|
|Pitch||beverage cooler sleeve|
|Asked For||$200,000 for 10%|
What is Freaker USA?
Freaker USA, proudly made in the good ol’ US of A. It’s a one-size-fits-all beverage insulator that can fit any can or bottle and keep it cool and your hands dry. It covers anything from a can of soda to a Big-Gulp to your favorite beer. It also serves the dual purpose of protecting your hands from a scolding hot cup of take-away coffee. Made of stretchy cotton and hand-knitted, it flies the patriotic red, white and blue in design but offers alternative patterns or logo’s. While doubling as a wrist band when not in use, they also have a line of socks to complement the look.
Who Owns Freaker USA?
Zach Crain from North Carolina founded Freaker USA in 2011. He’d been a hippy of sorts for years prior, drifting around the US and living in his car before settling in North Carolina. Zach remains in his position of CEO of the company and has since expanded his business to hire more employees.
It all started when Zach decided to take up a new hobby, knitting. He soon began pondering the concept of knitting covers for beverage containers. Designing his version of the koozie for family and friends, while also selling it to local stores, he figured it would make a good business venture. In 2011, Zach went on Kickstarter with his idea and raised just over $62,000 in funds. With this, he got production started and then rented a party bus which he branded with the company logo and went on a four-month coast-to-coast marketing campaign. Zach returned to Kickstarter again in 2015 to raise funds for his new sock line, this time securing over $250,000 in funds. During this time, he featured on the Netflix documentary Capital C, all about the crowdfunding revolution. Over an impressive 13 months, he generated $320,000 in sales, got his product into 200 stores and secured two international distributors. However, wanting to reach a larger global market, he started looking for an investor.
What Happened After Shark Tank Update
Is Freaker USA Still in Business?
The company remains in business with its headquarters in Wilmington, NC. You can purchase their line of products online at its website, Amazon, or through boutique retail stores in nearby locations. In addition, applications to become a wholesaler are available for merchants. The company continues to use Georgia cotton farms, and does the spun and dyed process using workers from the American south.