Is Kanga Coolers Still in business? Net Worth & Shark Tank Update
Nobody likes warm beer at a tailgate, but few college students actually build a multi-million dollar business to solve the problem.
Logan LaMance, Austin Maxwell, and Teddy Giard walked into the Shark Tank with a remarkably simple premise: standard heavy-duty coolers are too bulky, and single-can koozies do not help the rest of the 12-pack sitting in the sun.
Their solution was Kanga, a lightweight, flexible sleeve designed to wrap around an entire case of beverages, keeping them cold for hours without a single cube of ice.
The Bottom Line (Executive Summary)
- The Deal: Kanga Coolers secured $100,000 for 20% equity from Mark Cuban during Season 10, and the deal successfully closed off-camera.
- The Growth: As of today, Kanga Coolers reports annual revenues surpassing $9 million, fueled by strong e-commerce sales, massive B2B wholesale accounts, and viral marketing features.
- Availability: You can find Kanga products in over 4,000 retail stores nationwide—including Ace Hardware and Walmart—as well as directly on their website.
What is Kanga Coolers?
Kanga Coolers is a consumer goods brand that manufactures iceless, soft-sided coolers designed to fit seamlessly over standard 12-pack, 24-pack, and 30-pack cardboard beverage cases.
The flagship product, the Kase Mate, traps the cold air inside the original packaging, keeping drinks cold for up to seven hours without requiring bulky ice packs or heavy plastic chests.
| Industry | Founder(s) | Core Product | Retail Price | Target Audience |
| Consumer Packaged Goods (CPG) | Logan LaMance, Austin Maxwell, Teddy Giard | The Kase Mate | $29.95 – $54.95 | Tailgaters, Beachgoers, Golfers, Campers |
The Founders Behind Kanga Coolers
The origin of Kanga Coolers reads like a classic American dorm room startup story. In 2017, Logan LaMance, Austin Maxwell, and Teddy Giard were undergraduate students at Clemson University in South Carolina.
Like many college students, they frequented tailgates and outdoor parties. They quickly noticed a glaring logistical flaw in their weekend plans: lugging a $300, heavy-duty rotomolded cooler across campus was exhausting, and standard cardboard cases of beer or soda turned warm within an hour under the Southern sun.
LaMance originally conceived the idea for an iceless cooler sleeve during a class project. The objective was simple: build a lightweight, portable sleeve that insulates the entire case of beverages directly from the store. They sewed their first 200 custom coolers specifically for the Clemson market, and the inventory sold out almost immediately.
Realizing they had a viable commercial product, the trio entered a local student pitch competition called the Pitch Smackdown, hosted by the Spiro Institute (now known as Clemson Launchpad). They walked away with $8,000 in prize money.
Prior to this, each founder had scraped together exactly $833 of their own money to fund the initial prototypes. While $8,000 felt like a fortune to college students, manufacturing a physical product at scale requires serious capital.
To bridge the gap, they launched a 60-day Kickstarter campaign in 2018, successfully raising over $35,000 from early backers who believed in the concept.
With proof of concept, patent-pending designs, and a growing customer base, the young founders set their sights on national television.
Kanga Coolers’ Shark Tank Pitch & Deal
Entering the Tank in Season 10 (Episode 18), Teddy, Logan, and Austin brought high energy and a clear business proposition. They marched onto the set with cases of beer, demonstrating exactly how the Kase Mate slides effortlessly over a standard 12-pack.
The founders were seeking a $100,000 investment in exchange for a 10% equity stake in Kanga, which placed their initial company valuation at a clean $1 million.
The pitch highlighted the exact pain point they aimed to solve. Standard coolers require buying ice, dumping it in, and draining the water later. The Kase Mate simply wrapped around the cold beverages straight from the refrigerator aisle, keeping them cold for up to seven hours.
Barbara Corcoran immediately probed into the insulation metrics, asking for details on the temperature retention. Logan confidently explained the science behind the thermal reflection layers and foam insulation.
Financially, the numbers made sense. Logan broke down the pricing structure: the standard 12-pack Kase Mate retailed for $29.95, while larger sizes for 24-packs and 30-packs sold for $34.95.
Furthermore, they introduced their highly lucrative B2B custom printing channel, noting that custom coolers cost around $20 per unit to produce and yielded high margins on bulk orders from corporate clients.
They mentioned that about 30% of their early funding came from Kickstarter, with the rest rolling in from direct-to-consumer online sales and business wholesale.
Before the other Sharks could heavily scrutinize the balance sheet or debate the market size, Mark Cuban saw a perfect fit. Cuban, who has a well-documented history of investing in beverage and sports-related companies, interrupted the typical questioning phase.
He bluntly offered them exactly the cash they asked for, $100,000, but demanded 20% equity instead of the 10% they initially proposed. Cuban made it clear he did not want to negotiate endlessly and wanted a swift answer.
Recognizing the immense value of having the billionaire Dallas Mavericks owner on their cap table, Teddy, Logan, and Austin immediately accepted the offer on the spot, leaving Sharks like Kevin O’Leary and Lori Greiner without a chance to formulate counter-offers.
| Season / Episode | Initial Ask & Valuation | Sharks Present | Notable Offers | Final On-Air Deal |
| Season 10, Episode 18 | $100,000 for 10% ($1M Valuation) | Mark Cuban, Kevin O’Leary, Lori Greiner, Barbara Corcoran, Daymond John | Mark Cuban: $100k for 20% | Mark Cuban: $100,000 for 20% equity |
Did the Kanga Coolers Deal Actually Close?
Yes, the handshake agreement on television successfully transitioned into a closed contract. Due diligence went smoothly, and Mark Cuban officially became a 20% stakeholder in Kanga Coolers.
The immediate “Shark Tank Effect” provided a massive boost to their cash flow; the company generated over $103,000 in sales within the first six months following the broadcast. However, the real value of Cuban’s partnership was strategic.
With the $100,000 in seed money secured, Austin Maxwell and the team focused on refining their supply chain operations, overhauling their manufacturing processes, and rebranding their visual identity. They expanded their cooler shapes, adjusted sizing, and launched updated graphics in the spring of 2020.
Interestingly, despite securing a Shark Tank deal, Austin continued to work a standard 9-to-5 job after graduation until Kanga generated enough consistent profit to support the founders full-time.
Kanga Coolers After Shark Tank: The Update
As of today, Kanga Coolers has matured from a fun college project into a heavy hitter in the lifestyle and outdoor apparel industry. Their journey, however, required significant maneuvering.
Following their Shark Tank appearance, the company heavily relied on B2B promotional sales, creating custom coolers for massive corporate clients like Anheuser-Busch.
When the global events of 2020 shut down corporate gatherings and promotional marketing budgets, that revenue stream completely dried up.
Facing an existential threat, Logan and the team executed a hard pivot into direct-to-consumer e-commerce. They leveraged Facebook ads and digital marketing, pouring resources into building an online community. To support this infrastructure, Kanga moved their operations to Shopify.
This relationship with Shopify led to the single largest marketing event in Kanga’s history. Shopify, acting as a major sponsor for YouTube megastar Mr. Beast (who commands over 200 million subscribers), ran a social media contest featuring Kanga Coolers.
Logan LaMance noted that the resulting video feature drove approximately ten times the traffic and exposure they received from their original Shark Tank airing.
Today, Kanga operates out of a dedicated facility in Greenville, South Carolina, affectionately named the “Fun Factory”. They have grown their internal team to over 40 employees. Product development has also skyrocketed. The original Kase Mate is now flanked by new offerings, including the “BrewBox,” the leakproof “Pouch,” and premium backpack coolers.
Their retail footprint is equally impressive. Kanga Coolers are currently stocked in over 4,000 brick-and-mortar locations across the United States, with Ace Hardware serving as one of their premier retail partners.
In 2024, the brand scored a massive collaboration by partnering with Mountain Dew and Walmart to release a limited-edition Baja Blast cooler bundle, which sold phenomenally well and introduced the brand to a massive new demographic.
Validation of their hard work came when the founders were officially named to the Forbes 30 Under 30 list for the Retail & Ecommerce category in 2023.
What is the Net Worth and Valuation of Kanga Coolers?
While Kanga Coolers remains a privately held company, we can calculate a highly educated estimate of their valuation based on recent financial disclosures, retail expansion, and industry multiples.
According to 2025 financial updates tracking Shark Tank alumni, Kanga Coolers generates over $9 million in annual revenue. In the consumer packaged goods (CPG) sector, healthy, scaling brands with strong direct-to-consumer and B2B wholesale channels typically command valuation multiples of 2x to 3x their annual revenue.
Based on these industry standards, the estimated valuation of Kanga Coolers in 2026 sits comfortably between $18 million and $27 million. This is a staggering increase from the $500,000 implied valuation they accepted from Mark Cuban just a few years prior.
Mark Cuban’s 20% equity stake, originally purchased for $100,000, is now estimated to be worth between $3.6 million and $5.4 million, making Kanga one of his more lucrative mid-tier investments.
The founders’ individual net worths are tightly tied to their equity in the company. Assuming they split the remaining 80% relatively evenly (after allowing for a small percentage pool for employees or subsequent minor investors), Logan LaMance, Austin Maxwell, and Teddy Giard each hold multi-million dollar equity positions.
Is Kanga Coolers Still in Business?
Yes, absolutely. Kanga Coolers is fully operational, highly profitable, and aggressively expanding. They maintain a highly active social media presence, consistently launch new seasonal product lines (such as licensed collegiate coolers and professional sports team designs), and continue to hire new personnel, including recently opening roles for independent wholesale sales managers to further expand their boutique retail footprint.
The brand successfully transitioned past the tricky startup phase and operates as a stable, growing enterprise.
Where to Buy Kanga Coolers
If you are looking to purchase a Kanga Cooler today, you have multiple convenient options:
- Directly from Kanga: The official website (kangacoolers.com) offers the widest selection, including exclusive prints, collegiate licensing, bundle deals, and custom embroidery options for corporate gifts.
- Ace Hardware: Kanga has a massive distribution deal with Ace Hardware, making it easy to find their standard Kase Mates and Pouch products in local stores nationwide.
- Boutique Surf and Gift Shops: Through their massive independent wholesale network, Kanga products are stocked in thousands of local outfitters, golf pro shops, and beach stores across coastal and college towns.
- Major Retailers: Keep an eye out in stores like Walmart for seasonal or limited-edition drops, similar to their prior Mountain Dew collaborations.
Top Kanga Coolers Alternatives
While Kanga created the specific “iceless case sleeve” category, the outdoor cooler market is highly competitive. If you are comparing options, here are the main alternatives:
- Yeti Soft Coolers (Hopper Series): For consumers willing to spend $200+, Yeti offers premium soft coolers. However, these require ice or heavy Yeti Ice blocks, unlike Kanga.
- Frost Buddy: Known primarily for their universal can coolers, Frost Buddy operates in the same general demographic but focuses heavily on individual drink insulation rather than case-sized solutions.
- Igloo Soft Sided Coolers: A legacy brand offering budget-friendly soft coolers. They are functional but lack the specific “slip-over-the-box” engineering and collegiate style appeal of the Kanga Kase Mate.
Kanga Coolers identified a distinct gap in the market, secured the necessary capital from a billionaire investor, and built a sustainable framework that has clearly outlasted the initial 15 minutes of television fame.
