Chill Systems Shark Tank Net Worth

Chill Systems is a company that presented its unique product on Shark Tank’s Season 12. The product is an eco-friendly, lightweight, and portable beverage chiller designed to keep beverages cold for an extended period.

Co-founded by Chase Mitchell and Brian Bloch in 2016, the company created a solution for individuals seeking a convenient and effortless way to keep their beverages chilled while on the go.

The portable beverage chiller from Chill Systems is engineered with advanced no-ice technology and is crafted with recycled materials, making it an eco-friendly choice for consumers.

The product features an internal freezing material akin to blue ice, which acts as a cold storage chamber once frozen. The chiller can maintain the temperature of beer, wine, spirits, soda, coffee, sports drinks, kombucha, and many other beverages for up to 6 hours. 

The compact size allows it to conveniently hold three 12-16 oz cans or a 750 ml wine bottle, perfect for picnics, beach outings, or other outdoor activities. Chill Systems’ insulated Adventure Pack or Picnic Tote can extend the chiller’s use for up to 24 hours, significantly extending its life.

The Adventure Pack and Picnic Tote are additional products designed to complement the chiller, accommodating more drinks and maintaining their temperature.

They also add to the product’s portability and convenience, making it an ideal choice for outdoor activities and travel. Chill Systems represents an eco-friendly solution to a problem common to consumers despite a lukewarm response from the Sharks on the show.

Its portability, effectiveness, and stylish design make it a good choice for those seeking a convenient way to keep beverages cold without the weight and hassle of traditional ice coolers.

As such, Chill Systems represents an innovative take on beverage cooling and portability, combining practicality with a commitment to environmental sustainability.

What Is Chill Systems?

Chill Systems are portable, eco-friendly coolers designed to chill beverages without ice. They are compact and lightweight, making them ideal for outdoor activities such as picnics, beach visits, or camping trips.

The Original Chiller by Chill Systems can efficiently cool wine and beer with its unique ice-free design. The product also features fun patterns, adding a touch of style to its functionality.

So, whether for a picnic in the park or a day at the beach, Chill Systems is designed to provide perfectly chilled beverages anywhere you go.

Who Is The Founder Of Chill Systems?

Chill Systems, a company specializing in portable, ice-free chillers, was co-founded by Brian Bloch and Chase Mitchell. Both founders are business administration graduates from the University of Southern California (USC) and originally hail from Los Angeles, California.

In addition to his business major, Chase Mitchell minored in web technologies and applications. Brian Bloch kickstarted his career as a warehouse operations specialist at Dornbracht before eventually becoming a business analyst at Apple.

Chase Mitchell’s professional journey began as a salesman at Vector Marketing. Still, his most prominent role was as an account manager at Google, demonstrating his experience in sales and account management.

The idea for Chill Systems was conceived during their time in college. Both Bloch and Mitchell were avid fans of the TV show “Shark Tank” and frequently discussed the prospect of introducing their product on the show.

They eventually devised the concept of a portable, ice-free chiller, which was lightweight and hassle-free to carry around. This idea was inspired by their experiences carrying bulky and heavy drink coolers during outdoor gatherings, such as beach and barbecue parties.

The co-founders invested two years in bringing this concept to life. They launched Chill Systems in 2018 after a successful Kickstarter campaign that raised over $53,172 from 473 backers.

The product they introduced was innovative, featuring an insulating wrap and cooling gel that allowed it to stay cold for 4-6 hours. However, the product required overnight freezing before use.

By 2020, Chill Systems had already made $111,000 in sales, indicating the market’s acceptance of its unique product.

Despite their sales, the company was selling at a loss to test the market when they appeared on Season 12 of “Shark Tank” in 2021, seeking an investment of $150,000 for a 15% stake in their company.

However, their pitch did not resonate with the Sharks, and they could not secure the desired deal.

Despite this setback, they continued to operate Chill Systems until January 2022. Unfortunately, the company ultimately went out of business, and the founders have since returned to their previous careers.

How Was The Shark Tank Pitch Of Chill Systems?

Chill Systems, the innovative company that Chase Mitchell and Brian Bloch co-founded, presented their product to the Sharks during Season 12, Episode 17 of Shark Tank.

The founders pitched their lightweight, ice-free drink cooler and sought an investment of $150,000 for a 15% equity stake in their company, valuing Chill Systems at $1 million.

Their product, Chill Systems, is a compact and portable drink cooler that can keep up to three drinks cold at a time without ice. The unique selling proposition of the product was its convenience and simplicity.

Users would place the cooler in the freezer 24 hours in advance, and then it was ready to keep drinks cold for several hours. At the time of the pitch, Mitchell and Bloch had made about $111,000 in sales in just over two years.

Impressively, they had raised over $50,000 of that amount through a Kickstarter campaign. However, they also admitted that they were selling each unit at a loss.

The initial production cost was $37 per unit, but they retailed for only $30. They did manage to reduce the cost to $18 in later productions.

Despite the promising concept and moderate sales, the Sharks were not convinced. The financial dynamics of the company, including selling at a loss, raised eyebrows and resulted in skepticism about the company’s future.

Shark Kevin O’Leary even suggested that the founders give up on the business and move on to other ventures. While the other Sharks seemed to hold a somewhat more positive outlook, believing there was still potential, none were willing to invest.

Ultimately, the Chill Systems pitch on Shark Tank did not result in a deal. The founders left the tank empty-handed. Despite the setback, the founders were still selling their coolers at the time of the update, likely increasing the price to improve profitability.

Therefore, while the Shark Tank pitch was unsuccessful in securing investment, the experience may have provided valuable feedback that influenced the company’s future direction.

What Happened To Chill Systems After Shark Tank?

After their appearance on Shark Tank, the founders of Chill Systems, Chase Mitchell and Brian Bloch, continued their business for a while, but the company eventually encountered difficulties.

Despite not receiving a deal on Shark Tank, they tried to continue operations and sell their coolers. However, by January 2022, they had stopped their operations. Their official website is offline, and the domain name is up for sale on GoDaddy Auctions.

The ice-free chillers are also reported to be out of stock on Amazon, and the company hasn’t posted on social media for over a year, suggesting that it has ceased its operations. 

While they did attempt to continue and grow their business post-Shark Tank, they ultimately had to shut down. The business model, which included selling each cooler at a loss, likely contributed to the closure.

Despite the closure of Chill Systems, both founders returned to the job market and are currently employed elsewhere. Chase works at Coinbase as a Partner Success Senior Associate and Brian at Elbay Endeavors.

They seem to have taken Kevin O’Leary’s advice to return to regular jobs, although it’s unclear if his advice directly influenced this decision or was simply the best course of action given the circumstances.

Chill Systems Shark Tank Update

After their appearance on Shark Tank, Chill Systems, the lightweight, ice-free beverage chiller founded by Chase Mitchell and Brian Bloch, faced many challenges and successes. They appeared on Shark Tank seeking $150,000 for 15% equity in their business but could not secure a deal with any of the Sharks.

Despite a successful Kickstarter campaign in 2018 that raised $53,172, the product’s future looked uncertain by August 2022. The coolers were unavailable on their official website or Amazon. Furthermore, the company’s net worth was around $250,000.

Chill Systems had sales of $111,000 but faced losses on each cooler sold, which might have contributed to the business’s challenges. However, Chase Mitchell and Brian Bloch were still selling the product at a higher price.

The founders, Chase and Brian, moved on to new ventures, and the website and social media accounts of Chill Systems were closed. Chill Systems ceased operation.

Ultimately, Chill Systems failed to sustain its business after Shark Tank, leading to its closure. The founders pursued other opportunities, and the product is no longer available.

Is Chill Systems Still In Business?

No, Chill Systems is no longer in business. The entrepreneurs behind Chill Systems, Brian Bloch and Chase Mitchell, held on until 2022, selling the product through their website. However, the Chill Systems web domain is now up for sale. Their last Instagram post was in July 2021.

Bloch has returned to Apple, where he works as a content operations intelligence and finance manager, and Mitchell is a full-time remote partner success senior associate at Coinbase.

What Is the Net Worth Of Chill Systems?

According to our research, the net worth of Chill Systems is $0 since the company went out of business in 2022. The valuation of Chill Systems was $1 million when they appeared on Shark Tank in 2021.