LiddUp is a cooler company that appeared on Season 4 of Shark Tank. They invented a product that brings a new element to the common cooler – internal illumination.
It is a high-quality cooler with integrated LED lighting, a feature differentiating it from other coolers on the market.
The product’s main feature, LED lighting, answers the common inconvenience individuals face using coolers in low light conditions, such as during nighttime barbecues, camping trips, or other outdoor activities.
LiddUp coolers feature an internal LED lighting system that automatically illuminates throughout the cooler when the lid is opened, making finding beverages and foods easier. The cooler is especially useful in environments with limited light.
LiddUp coolers also come with many other features, including heavy-duty wheels for easy transportation, a built-in bottle opener, durable construction for robust use, and a drain system to remove excess water easily.
The LED system is powered by batteries and is designed to have low energy consumption, meaning it can last a significant amount of time before the batteries need to be replaced.
LiddUp coolers are a good choice because they solve a universal problem with a simple and efficient solution. They combine the practicality of a traditional cooler with the convenience of integrated lighting to make a product that is not only novel but also genuinely useful.
LiddUp coolers are designed with additional features that make them a convenient and durable product ideal for individuals who frequently engage in outdoor activities, tailgating parties, or just need a handy cooler around the house.
|Entrepreneur||Jayson Sandberg and Taylor Gwiazdon|
|Product / Business||A cooler with integrated LED lights|
|Investment Asking For||$100,000 for 10% equity in LiddUp|
|Final Deal||$100,000 for 33% of a licensing deal with Igloo for LiddUp|
|LiddUp Episode||Season 4, Episode 21|
|LiddUp Business Status||Out Of Business|
|LiddUp Website||Visit Website|
|LiddUp Net Worth||$0|
What Is LiddUp?
LiddUp Coolers is a brand that produces coolers with built-in LED lights. These lights illuminate the inside of the cooler, making it easier to find your drinks and snacks, especially in low-light settings.
Batteries power the LED lights and can be turned on and off as needed. LiddUp Coolers are designed to be durable and keep your drinks cold for extended periods.
LiddUp Coolers is known for its innovative design that combines functionality and convenience.
Here are some more details about LiddUp Coolers:
- LED Lighting: The standout feature of LiddUp Coolers is the built-in LED lights. These lights are strategically placed inside the cooler to illuminate the contents, making it easy to find what you’re looking for, even in the dark. The lights are bright, energy-efficient, and designed to last long.
- Easy Access: LiddUp Coolers are designed with a transparent lid, allowing you to see the contents without opening the cooler. This helps to minimize cold air loss and maintain the temperature inside. The LED lights further enhance visibility, making it effortless to locate your desired items.
- Durable Construction: LiddUp Coolers are built to withstand rugged outdoor conditions. They are made from high-quality materials resistant to impact, UV rays, and harsh weather. The coolers are also insulated to keep your drinks and food cold for extended periods, ensuring optimal freshness.
- Size Options: LiddUp offers a range of cooler sizes to suit different needs. You can choose from various sizes of coolers, from small personal coolers to large party coolers.
- Portable and Convenient: LiddUp Coolers are designed for easy transportation and convenience. They feature sturdy handles and secure latches to ensure your cooler stays closed and the contents remain intact during travel. For convenience, some models also have additional features like bottle openers and cup holders.
- Versatility: LiddUp Coolers are not only great for outdoor activities like camping, picnics, and beach trips but also for indoor use during parties, tailgating events, and gatherings. The LED lights add a fun and practical element to any occasion.
LiddUp Coolers offers a unique and practical solution for chilling drinks and snacks while providing easy accessibility with its built-in LED lighting system.
Who Is The Founder Of LiddUp?
LiddUp was founded by Jayson Sandberg and Taylor Gwiazdon. Both hail from California and are outdoor enthusiasts, which fueled the inspiration behind the conception of LiddUp.
Jayson Sandberg, an electrician by trade, is an innovator at heart. His partner, Taylor Gwiazdon, worked in sales and marketing then.
The idea for LiddUp came to the pair during a nighttime beach party. They had packed a cooler full of beverages, but as night fell, they struggled to find the drinks they wanted inside the dark cooler.
They solved this problem by hanging battery-powered Christmas lights inside the cooler. The initial reaction from their friends was very positive, and this makeshift solution sparked the idea of a cooler with built-in illumination.
LiddUp was born out of Sandberg and Gwiazdon’s experience with coolers that could illuminate their contents.
Before appearing on Shark Tank, the founders worked to perfect their design, securing a patent for the idea and building prototypes. They launched a successful Indiegogo campaign in 2012 to fund their initial production run.
Their efforts caught the Shark Tank producers’ attention, eventually leading to their appearance in the show in 2013.
Despite not securing a deal with the Sharks, their appearance on the show brought them significant exposure, leading to increased interest and sales.
LiddUp also caught the eye of Igloo Products Corp., one of the leading cooler manufacturers, which later collaborated with them to produce a line of LiddUp coolers.
How Was The Shark Tank Pitch Of LiddUp?
The LiddUp founders, Jayson Sandberg, and Taylor Gwiazdon appeared on Season 4 of Shark Tank in 2013 to pitch their unique cooler idea.
They walked onto the Shark Tank stage seeking a $100,000 investment in exchange for a 10% stake in their company, valuing LiddUp at $1 million.
They began their pitch by demonstrating the inconvenience of a traditional cooler in a low-light scenario and then revealed the LiddUp cooler with its innovative built-in LED lighting system.
The Sharks were impressed by the demonstration, which effectively highlighted the practicality and potential of the product.
Despite the positive reaction to the demonstration, the Sharks expressed concerns about the patent and the company’s valuation.
Daymond John initially scolded the entrepreneurs but later apologized and enjoyed their cold beer.
Robert Herjavec expressed concerns about competition from existing cooler manufacturers.
Mark Cuban suggested a licensing deal or spending significant money on shelf space.
Lori Greiner questioned the demand for the product and suggested an alternative solution.
Kevin O’Leary offered to provide the $100,000 investment without taking any equity. Instead, he asked for 33% of future royalties from licensing or retail deals. After discussing the offers, Jayson and Taylor accepted Kevin’s deal.
Following the show, Kevin helped Liddup secure a deal with Igloo and later with Orca to feature LED-lit coolers. However, as of today, the company is no longer in business.
Final Deal: Kevin O’Leary agreed to invest $100,000 for 33% of royalties in LiddUp Coolers.
Did LiddUp Coolers Get a Deal on Shark Tank?
Yes, Liddup Coolers did get a deal on Shark Tank. After pitching their product, the founders of Liddup, Jason Sandberg and Taylor Gwizadon, received an offer from Kevin O’Leary.
Kevin offered $100,000 for 1/3 of the licensing revenue they would receive from a cooler manufacturer.
Jason and Taylor accepted Kevin’s deal, and as promised, he secured a meeting with Igloo Products Corp, a leading cooler manufacturer.
Thanks to this partnership, Liddup coolers incorporating their patented LED lighting technology are now available at various stores worldwide, including Walmart, Target, Dick’s Sporting Goods, and Sam’s Club.
Over the years, Liddup technology has also improved, with lower battery consumption, longer-lasting, brighter lights, and even color customization options.
They have also introduced new models, such as an open-top version perfect for cookouts with various drinks.
What Happened To LiddUp After Shark Tank?
After appearing on Shark Tank, LiddUp Coolers initially secured a deal with Kevin O’Leary, who invested $100,000 for a 33% stake in a licensing agreement with Igloo.
Kevin fulfilled his promise and arranged a meeting for LiddUp with Igloo, a well-known cooler manufacturer. As a result, LiddUp’s LED lighting technology was incorporated into Igloo coolers.
Following the Shark Tank appearance, LiddUp coolers gained distribution in various retail locations, including Walmart, Target, Dick’s Sporting Goods, and Sam’s Club.
The company’s LED technology received improvements, such as lower battery consumption, smarter bulbs for a longer lifespan, brighter glow, and customizable colors.
They also introduced different versions of the LiddUp cooler, including a topless Party Bar for outdoor gatherings with various beverages.
However, LiddUp Coolers is out of business as of writing this article. The company’s website has been down for some time, and its social media accounts have not been active since 2019. The exact reasons for their closure are unclear.
LiddUp Shark Tank Update
After appearing on Shark Tank in 2013, LiddUp, a company that created beverage coolers with interior LED lights, entered a strategic partnership with Igloo, a leading cooler manufacturer, in September 2014.
Igloo started making and selling a line of Liddup-branded light-up coolers. However, this partnership eventually expired.
In March 2018, LiddUp announced a new partnership with the Outdoor Recreation Company of America (ORCA).
However, as of today, LiddUp coolers are no longer available as ORCA no longer offers them on its website.
The company’s social media pages stopped receiving updates in 2019, its website is no longer live, and the last product review about them was published in January 2020.
LiddUp could not sustain its overall success, and its business operations and availability have ceased.
Is LiddUp Still In Business?
Our research shows that LiddUp, which created coolers with LED lights inside, is no longer in business. LiddUp’s website vanished in 2021, and the company no longer operates.
What Is the Net Worth of LiddUp?
According to our research, the net worth of LiddUp Coolers has been $0 since the company went out of business. The valuation of LiddUp Coolers was a little above $300,000 after securing an investment from Kevin O’Leary.
Also, read about other businesses that appeared on Season 4 of Shark Tank: