Drip Drop Waffle Cone is an innovative ice cream cone designed to prevent ice cream from dripping and creating a mess while eating. The concept features a waffle cone with a circular, edible disc attached to the bottom, which acts as a barrier to catch any melting ice cream.
This simple yet effective design aims to enhance the ice cream-eating experience by minimizing mess and ensuring consumers enjoy their treat without worrying about dripping ice cream.
Drip Drop Waffle Cone appeared on Shark Tank, an example of creative problem-solving and innovative thinking applied to everyday products seeking an investment to expand its product.
The idea behind the Drip Drop Waffle Cone highlights how even small changes to common items can significantly impact user experience and satisfaction.
What Is Drip Drop Cone?
Drip Drop is a waffle cone ring that wraps around an ice cream cone to collect drips and drops of melting ice cream. The Waffle Cone Drip Drop Cone is a disc-shaped accessory made of waffle cone ingredients.
It fits snuggly over the ice cream cone and collects melting drips. The Drip Drop Cone can remove ice cream stains and sticky fingers from clothes.
Drip Drop is a waffle cone coated inside with a layer of chocolate designed to prevent the ice cream from leaking out or dripping down the cone.
The chocolate layer acts as a barrier to keep the ice cream contained within the cone, hence the name “Drip Drop.” This type of cone is popular in ice cream shops and is sometimes used to add an extra layer of flavor or texture to an ice cream treat.
|Company Name||Drip Drop Cone|
|Founder||Sam Nassif And Oliver Greenwald|
|Business||A waffle ring designed to catch melting drool from an ice cream cone|
|Investment Seeking||$50,000 For a 20% stake in Drip Drop|
|Final Deal||$50,0000 For a 33.3% stake in Drip Drop|
|Episode||Episode 25, Season 6|
|Business Status||Out Of Business|
Who Is The Founder Of Drip Drop Cone?
Sam Nassif and Oliver Greenwald started their creative activities in elementary school and founded Drip Drop Ice Cream Cone. They pursued a patent as eighth graders and succeeded in developing an edible ice cream drip solution.
The two Denver, Colorado, teenagers wore matching bow ties, oxford shirts, and jeans during their Shark Tank appearance in 2016. Sam studies business at Champman University, while Oliver studies computer science at Duke University.
Drip Drop Cone Before Shark Tank
The two best friends from Denver, Colorado, Oliver Greenwald and Sam Nassif, started Drip Drop at fourteen, becoming the youngest entrepreneurs to appear on Shark Tank without an adult.
Sam and Oliver were two normal fifth-graders who were fond of ice cream. Their idea was sparked when they saw a lady clearing melted ice cream from her toddlers’ faces and clothing.
They looked comfortable and relaxed in the tank, indicating they were well-prepared and confident, which is not surprising since the pair started their business careers at eleven years old.
They created and entered a version of the Drip Drop Cone in the 2012 Gate’s Invention Program, winning second place. The memories of being 10 years old are fuzzy, but one vivid memory is my love of ice cream.
In those rare, glorious summer days of my youth in England, the rarity of a day without rain could only be enhanced by that most delectable sweet treat.
Oliver and Sam had a flash of inspiration at that age and launched their plans to create a product that not only made an ice cream cone less messy but was also a sweet and tasty treat in and of itself.
It started when they observed two tiny children whose clothes and hands were covered in sticky drips from their ice cream cones, which they were carelessly waving around as small children do.
Oliver and Sam saw the mother attempt to clean up her kids with a heap of napkins, to varying degrees of success, and they were struck by the idea that they could do something about the messy cones.
Oliver and Sam may have been young, but they quickly started discussing solutions and eventually devised a unique and creative method to solve those sticky drip problems permanently.
They developed an edible wafer ring that fits snugly around the edge of a cone, capturing all the drips, and served as the ideal companion to an ice cream cone.
How Was The Shark Tank Pitch Of Drip Drop?
Sam and Oliver appeared on Shark Tank requesting an investment of $50,000 in exchange for a 20% stake in Drip Drop. Drip Drop Cone, invented by teen entrepreneurs Sam Nassif and Oliver Greenwald, appeared on Shark Tank Season 6, Episode 25, aired on May 15, 2015.
During their pitch, Sam and Oliver presented the Drip Drop Cone, an edible ring made from waffle cone-like material designed around the bottom of an ice cream cone to catch any drips or melting ice cream.
They requested a $50,000 investment in exchange for a 20% stake in their company. They demonstrated the product’s effectiveness in preventing messes caused by melting ice cream.
While the sharks were impressed with the young entrepreneurs’ creativity and determination, they were concerned about the product’s patentability, marketability, and competition with existing ice cream cones with built-in drip-catching features.
The sharks also discussed whether licensing the product to ice cream cone manufacturers or selling it separately would be more efficient. The sharks were impressed with the young entrepreneurs’ creativity and determination, and Barbara Corcoran saw potential in their product.
Barbara Corcoran offered the requested $50,000 investment but for a 33.3% stake in the company instead of the initially proposed 20%. Sam and Oliver agreed to the deal, and they have continued to develop and promote their product since their appearance on the show.
Final Deal: Barbara Corcoran agreed to invest $50,0000 For a 33.3% stake in Drip Drop.
What Happened To Drip Drop After Shark Tank?
The agreement between Barbara Corcoran and Drip Drop was not finalized. Oliver and Sam had difficulty securing a manufacturer on board. They had hoped to sign a deal with Jay Cone by the end of the summer, but that never happened.
Oliver left Drip Drop early in 2018 but got Drip Drops into three locations at Glacier Ice Cream & Gelato in Denver.
However, as of 2022, Drip Drop will no longer be in business. Drip Drop has been discontinued since the year 2022. Their website is gone, and their social media pages are outdated.
Oliver and Sam have not yet issued any official announcements, but we assume they could not grow the company too much because they could not get a license from their partners.
It did not help that their deal with Barbara ultimately fell through, as many teens do not have much money to spend on a business. Oliver and Sam are both now employed at Gate 5, where he is helping to build a new brand for the company.
Oliver officially left Drip Drop during the summer of 2018 and has worked as a marketing professional at a large technology company.
Despite that, Oliver continued to develop an app called Make Shit Happen, which provides people with five-minute social tasks while on the toilet. Unfortunately, the app is no longer available on the App Store.
He helped co-found a successful sneaker company called NFT, which sold over a million pairs of sneakers in only six months.
Oliver worked on the website and created original graphic art and animations for the project.
Oliver has been working as a product intern at Zoom since last summer. He helped to build a new digital product called the Smart Whiteboard. He worked at Zoom and helped develop the new Smart Whiteboard.
Oliver contributed some graphics to the Duke Men’s Basketball Social Media page. Sam works as an analyst at Gate 5, where he helps investors find new companies.
Sam is the man that created the working pitch deck for investors, and he has been responsible for designing graphic material for various marketing materials.
Sam also serves as managing director at 7BC Venture Capital, which he has held since May 2022. Until recently, he owned a business selling toy cars on Amazon, transporting and selling thousands of toy cars from Chinese manufacturers.
Drip Drop Shark Tank Update
The Drip Drop Cone was an innovative way to avoid sticky fingers and the inevitable ice cream mess; however, the concept has since been lost to time.
Oliver Greenwald, a co-founder, left the company in 2018 and is now an intern at Zoom. Also, the website is no longer active, and the social media accounts have been inactive since 2019.
Sam Nassif remains active with the company on LinkedIn, but Amazon no longer lists the product.
If the company had gone off, it would have faced competition from similar concepts, such as the Dripstik, which can be obtained on Amazon. Drip Drop Cone is plastic, but the edible version is undoubtedly more appealing.
Is Drip Drop Still In Business?
Drip Drop went out of business as of 2023. After securing a deal with Barbara Corcoran on Season 6, Episode 25 of Shark Tank, which aired on May 15, 2015, the young entrepreneurs behind the Drip Drop Cone, Sam Nassif, and Oliver Greenwald, continued to develop and promote their product.
Following their appearance on the show, Sam and Oliver focused on refining their product and working on the manufacturing process. They also spread awareness about the Drip Drop Cone through social media, promotional events, and other marketing channels.
Their goal was to bring their innovative product to a broader market and capture the attention of ice cream lovers who would appreciate a solution to melting ice cream drips.
While the Drip Drop Cone may not have become a household name or experienced widespread adoption, the product and its inventors have undoubtedly inspired others through their creativity, determination, and willingness to tackle a common problem with a unique solution.
The progress of the Drip Drop Cone after Shark Tank serves as a testament to the power of innovation and the potential impact of young entrepreneurs on the business world.
What Is the Net Worth of Drip Drop?
The valuation of Drip Drop was $250,000 when it appeared on Shark Tank. The net worth of Drip Drop is unknown as of 2023 since the company went out of business.