The Cool Wazoo is a 5-in-1 diaper changing pad. You can use it as a car shade, park swing, restaurant high chair, and shopping cart cover, in addition to being a diaper changing mat.
The Cool Wazoo was created by Ginelle Mills, a Californian who appeared on Shark Tank in November 2012.
She entered the Tank to acquire a 25% equity stake in exchange for $65,000. Instead, QVC’s Lori Greiner got her exactly what she wanted.
What is a Cool Wazoo?
A 5-in-1 baby cover, the Cool Wazoo is a changing pad, high chair cover, grocery cart cover, automobile shade, and bucket swing seat insert all in one.
When Ginelle Mills’ daughter was burned on a hot metal swing, she invented Cool Wazoo to prevent small children from becoming injured.
Ginelle’s product development was hampered when manufacturing errors wiped out more than 80% of a recent order.
She has received much coverage from both the Today Show and The Doctors, but she has only sold $20K worth of merchandise.
Her goal is to lower the per-unit cost by 65 percent by bringing production to Hong Kong.
When Did Cool Wazoo Founder Appear on Shark Tank?
Ginelle Mills appeared on Shark Tank Season 4, Episode 8, to discuss her product Cool Wazoo, which can cover strollers, diaper changing pads, grocery carts, bucket swings, and automobiles.
A working parent will find the Cool Wazoo ideal. You can use this product to ensure your children stay germ-free when they are on different surfaces.
Your children will have a safe surface to play on, and the waterproof pad’s flexible design makes it possible for it to fit into any space without adding bulk. You can put the Cool Wazoo into your diaper bag to make it portable.
Who is the Founder of Cool Wazoo?
Ginelle Mills designed the Cool Wazoo after a hot metal swing burned her daughter. It took her months to perfect the product and gather the supplies before starting the company in 2009.
Ginelle stated in her pitch that her husband had invested $100,000 into the production of the show. Genelle appeared on the Today show with Katie Lee and the doctor in 2011. The result was greater visibility for her.
Shark Tank was an opportunity for Ginelle to get a $65,000 investment for a 25% stake in her venture to relocate production to Hong Kong and reduce manufacturing costs.
Cool Wazoo Before Shark Tank
She explained to the Sharks that her product idea was born when her daughter got burned while swinging on a park swing.
In the summer, the swing was extremely hot, and she was unable to find a product to protect her daughter from the heat.
Ginelle decided to make one at that point. Would the Sharks benefit from the Cool Wazoo, a four-in-one product? Let’s examine this more closely.
Cool Wazoo on Shark Tank
Ginelle appeared on Shark Tank in season 4 as the company owner and offered 25% of the equity for $65,000.
Ginelle then showed the sharks a diaper bag packed with baby items, such as a restaurant high chair, a car shade, and a grocery cart; the bag was so full of baby items that there was no room for diapers.
When Ginelle came up with an idea to integrate everything into one, she was having the exact same problem as the shark.
Ginelle introduces Cool Wazzo, a five-in-one multifunctional station bag that can be used to cover a seat, change diapers, cover a supermarket cart, and more.
Ginelle says Cool Wazoos contain a substance that re-directs heat back to its source. Kevin states he did not have this at five years old, but he still survived.
As Ginelle answered, all purchases of this product are made by worry-stricken mothers concerned with germs and healing.
Marks wants to know how Cool Wazoo compares to its competitors. Ginelle claims the corporations produce products for children, but typically they’re large and individually constructed for one particular purpose. Cool Wazoo is flexible so that it can fit into any shape.
In addition, Mills informs the shark that she was given 40 seconds of airtime on the chat show with Katie Lee. Lori asks if the 40 seconds of airtime were valuable.
Ginelle replies that manufacturing was in progress, buct 85 percent of the orders arrived incorrectly, so she had to return them due to the staff’s inexperience with creating the products.
Genelle claims that she never received a return for the same. Additionally, Ginelle says that she was offered a part in a Christmas special episode of a television show called The Doctors.
In the original plan, she was to donate 2500 onesies to the audience, but due to a change in show design, she could not do that. Mark asks how she got her exchange, including what she got.
Ginelle informs Kevin that the Cool Wazoo made more than $20,000 last year when Kevin asks about sales.
She explains that she is not currently focused on selling since she moves her manufacturing to Hong Kong, where the cost price will be lower. Mark wonders what her wages are in America.
Ginelle tells Robert that one Cool Wazoo pad costs $30 to produce in America, stuns him. Additionally, Ginelle shares that this item has an MSRP of $65.95 and a wholesale price of $32.45.
Mark Cuban intervenes, saying she is only making $2 per wholesale sale. Moreover, he wants to know how much shipping to Hong Kong will cost.
She says it will cost her only $11, so he agrees. Ginelle tells them she recently received orders from a Canadian dealer for 1000 units. Lori declares that Ginelle sounds lovely, adding that it would be an excellent business opportunity for her.
According to Mark, the problem with Cool Wazoo is not the product itself but the fact that it is not yet a company. Then she looked sad and tried to hold back the tears as each shark took a step back.
Ginelle says she worked very hard to get into Shark Tank and that being on the show means a lot to her. She spent nearly two years creating the product.
Lori then offered $65,000 for a 25% stake in the company, which was her original proposal. To which Ginelle was more than happy to agree.
Who are the Investors of Cool Wazoo?
The sharks were assured Ginelle’s husband fully supports the business. Ginelle’s husband invested $100,000 to assist her in starting her business.
Lori garner invested $65,000 in Ginelle Cool Wazoo for 25% of the ownership in 2011.
What Happened To Cool Wazoo after Shark Tank?
The Cool Wazoo is still available on Amazon Prime four years after it was featured on Shark Tank.
Ginelle company is currently licensed by Babies R Us stores, too, under Comfort and Harmony brand. The company’s website now markets various products, so it’s not just for babies anymore.
The Cool Wazoo website features plenty of fantastic items, including customizable pillows.
Ginelle’s debut on Shark Tank resulted in an overhaul of Cool Wazoo’s website, which now includes a Shopify eCommerce store.
There aren’t many updates on Ginelle’s website or Facebook page, probably because she’s at trade shows.
The product will be available in stores by the end of the third quarter after Cool Wazoo participated in the San Francisco International Buyer Show in February.
Ginelle’s items are still available on the company’s website and through Amazon Prime. The experience was incredible.
What is the Valuation and Revenue of Cool Wazoo?
Ginelle revealed in 2011 when she appeared on the Shark Tank show that her business Cool Wazoo was worth $240,000.
According to Ginelle, each Cooz Wazoo pad costs $30, retails for $65, and wholesales for $32. The Cool Wazoo company earned $20,000 in revenue in 2010. The more recent data for Cool Wazoo earnings is not available.