Freaker USA Shark Tank Net Worth

Freaker USA is a distinctive company that garnered widespread attention when featured on Season 4 of the Shark Tank. It was founded by Zach Crain, who created a unique and universally fitting beverage insulator.

The product that the company offers, also named Freaker, is a one-size-fits-all beverage insulator that fits containers ranging from standard-sized beer bottles to larger containers such as wine bottles and even growlers.

The Freaker keeps beverages cold by insulating them and absorbing the condensation that typically forms outside the containers. This, in turn, prevents any potential damage to furniture or other surfaces due to water rings or drips.

The Freaker’s stretchable material and universal design make it highly versatile, as it can adapt to a wide array of beverage containers, making it a perfect fit for nearly anyone’s home or lifestyle.

Made in the USA and providing a fun, practical solution to a common problem, the Freaker has established its spot as a unique and entertaining entrant into the world of beverage accessories.

Company NameFreaker USA
EntrepreneurZach Crain
ProductSleeve for a beverage cooler
Investment Asking For$200,000 for 10% equity in Freaker USA
Final DealNo Offers
SharkNo Shark
Episode Season 4, Episode 6
Business StatusIn Business
WebsiteFreaker USA Website
Net Worth$5 Million

What Is Freaker USA?

Freaker USA is a company that specializes in producing colorful knitted beverage insulators, known as Freakers. These insulators, known as Freakers, are designed to fit any size of bottle or can to keep drinks cold and hands dry.

Freaker USA is known for its creative and humorous designs. The company was founded in 2011 by Zach Crain to keep beverages cool and hands dry while expressing creativity and individuality.

Freaker USA Shark Tank Net Worth

Freaker USA gained popularity after a successful Kickstarter campaign in 2011, and since then, they have grown into a well-recognized brand in the beverage industry.

Who Is The Founder Of Freaker USA?

Freaker USA was founded by Zach Crain, known for his unique character and colorful personality. Before establishing Freaker USA, Crain had diverse experiences, including working as a balloon artist, creating hand-knit gnome figurines, and even going on a nationwide hugging tour. 

The idea for Freaker USA was conceived during Crain’s time in Wilmington, North Carolina. It was born from Crain’s imaginative creativity, desire to solve a common problem, and passion for sustainability.

He observed the issue of beverages causing condensation on surfaces and damaging furniture, and he realized that existing beverage insulators were not one-size-fits-all, nor were they aesthetically pleasing or fun.

Seeing this gap in the market, Crain envisioned a product that was both practical and joyful, leading to the creation of the Freaker.

Before appearing on Shark Tank, Freaker USA took a grassroots approach to growth. In 2011, the company launched a Kickstarter campaign that raised over $60,000, exceeding its original goal.

This funding was used to purchase a tour bus, which Crain and his team used to tour the country, spreading the word about the Freaker and selling their product at various events and parties.

This hands-on, direct-to-consumer strategy helped to establish Freaker USA’s brand as eccentric, fun-loving, and down-to-earth, setting the stage for its national debut on Shark Tank in 2012.

During their appearance on Shark Tank, despite not securing a deal, the publicity and exposure they gained helped catapult Freaker USA into the national spotlight.

While the Sharks were entertained by Crain’s vivacious presentation style and the product’s unique nature, they ultimately did not invest, citing concerns about the company’s valuation and scalability.

Despite this, Freaker USA continued to grow and succeed in the market, demonstrating the strength of its unique brand and product.

How Was The Shark Tank Pitch Of Freaker USA?

Zach Crain and his team made an unforgettable impression on Shark Tank during Season 4. Bursting onto the scene with a lively dance routine and a charismatic, high-energy pitch, Crain showcased not just the Freaker product but the colorful personality of the Freaker USA brand itself.

Crain began his pitch by humorously demonstrating the issue that the Freaker aimed to solve, namely the problem of condensation from beverage containers causing water rings on surfaces.

He then introduced the Freaker, explaining its universal fit, absorbency, and unique and vibrant designs.

The Freaker USA team entered the Shark Tank seeking a $200,000 investment in exchange for a 10% equity stake in the company.

This gave the company a valuation of $2 million, a figure that some of the Sharks found high given the company’s sales figures at the time.

The Sharks were amused and entertained by Crain’s pitch and the whimsical nature of the Freaker product, but they also had some reservations.

They questioned the company’s valuation and expressed concerns about the scalability and patentability of the product.

Robert Herjavec and Lori Greiner were the first to drop out, stating that the valuation was too high.

Mark Cuban followed, explaining that he believed the product was not unique enough to warrant a patent, which could expose the company to competition.

Daymond John expressed concern over scalability, given the product’s dependence on changing design trends, while Kevin O’Leary was concerned about the potential for cheaper, knock-off products to enter the market.

Despite the high-energy presentation and the product’s unique nature, none of the Sharks ultimately made an offer, and Freaker USA did not secure a deal on the show.

However, the exposure they gained from their appearance on Shark Tank helped boost the company’s visibility, and Freaker USA continued to grow and succeed in the market post their Shark Tank experience.

What Happened To Freaker USA After Shark Tank?

Post-Shark Tank, Freaker USA continued to thrive and grow. The company expanded its distribution to unique boutiques and gift shops across the country, which helped reach a broader customer base.

Freaker USA also partnered with Liberty Bottleworks, collaborating on new products and marketing initiatives. However, this collaboration ended due to knock-off issues, which affected the partnership.

The company also expanded its product line by introducing “Freaker Feet,” knitted socks featuring original artwork. These socks became another successful addition to the brand’s offerings.

Furthermore, Freaker USA secured licensing deals with prominent entities like the NFL and DC Comics, contributing to their success and brand recognition.

The company’s unique and quirky beverage insulators, known as Freakers, continued to be available on its Amazon website and in numerous gift shops.

Freaker USA achieved an annual revenue of $6 million, reflecting the growth and popularity of its products.

The company’s founder and CEO, Zach Crain, remained optimistic and determined despite not getting a deal on Shark Tank, demonstrating his commitment to the brand’s success.

Freaker USA’s appearance on Shark Tank proved to be a pivotal moment for the company. While they didn’t secure an investment from the Sharks, the exposure and recognition gained from the show propelled the brand’s growth and success in the market.

The company continued to innovate, expand its product line, and explore new collaborations, solidifying its position as a unique and entertaining player in the beverage accessory industry.

Freaker USA Shark Tank Update

While Freaker USA did not secure an investment deal during its appearance on Shark Tank, the exposure provided by the show significantly boosted the company’s visibility and gave them a platform to expand its customer base.

This reflects the power of the “Shark Tank Effect,” where even companies that do not get a deal can experience substantial growth from the exposure and credibility gained from appearing on the show.

Freaker USA Shark Tank Net Worth

After its appearance, Freaker USA continued its grassroots growth strategy, increasing its presence at festivals, events, and retailers nationwide.

Freaker USA’s product line expanded as they began offering socks with designs that reflected the same whimsical, vibrant aesthetic as their beverage insulators.

Freaker USA carved out a niche in the market by leveraging its unique brand personality, commitment to US-based manufacturing, and high-quality, fun products.

Their story shows that with the right combination of creativity, passion, and a product that effectively solves a problem, a company can successfully establish and grow its brand, even without securing an investment from the Sharks.

Freaker USA is still in business and continues to operate successfully, selling its products through its website and various retail outlets. 

Freaker USA is still in business and continues to operate and offer its unique Freaker, a one-size-fits-all beverage insulator made in the USA.

The Freaker is an elastic knit drink holder that fits beer, sports, water, and wine containers, keeping hands protected and drinks cold 1.

What Is the Net Worth Of Freaker USA?

According to our research, the net worth of Freaker USA is estimated to be $5 million. The valuation of Freaker USA was $2 million when it appeared on Shark Tank.

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