Stainless steel-encased Coffee Joulies (pronounced Coffee Jewelies) are ideal for chilling and maintaining the optimal temperature of your coffee while sipping it.
A thermal beverage regulator, shown for the first time in episode 414, ensures a consistently tasty cup of coffee with every single sip.
David Jackson and David Petrillo, two entrepreneurs, engineers, friends, and coffee enthusiasts, are another successful Kickstarter project making its way to Shark Tank.
The pair raised more than $300,000 to develop their heat-regulating coffee beans, enabling them to establish a production line within just a few months.
The Coffee Joulies are made in upstate New York by Sherrill Manufacturing, a silverware manufacturer.
What Is Coffee Joulies?
Coffee Joulies are tiny beads made of a high-tech phase-change polymer. You can pour them directly into coffee or sandwich them between the walls of your Joulies coffee cup.
This capsule, which is a phase-changing capsule, is designed to be placed in a cup of coffee. The coffee cools quickly when served excessively hot, becoming cold coffee and gradually releasing heat to keep the coffee warm as you drink.
Therefore, the coffee stays at an ideal sipping temperature for an extended time. The coffee beans have the property of absorbing and reflecting heat.
The Joulies function by swiftly absorbing heat and lowering the temperature of the coffee to a drinkable level (140 degrees).
A steady temperature is maintained for several hours once the Joulies reach 140 degrees.
|Company Name||Coffee Joulies|
|Entrepreneur||Dave Jackson And Dave Pertrillo|
|Product||A stainless steel bean with heat-absorbing properties that keep coffee at the perfect temperature|
|Investment Asking For||$150,000 For 5% equity in Coffee Joulies|
|Final Deal||$150,000 For a royalty of $6 per unit until $150,000 is repaid|
|Shark||Kevin O’Leary, Lori Greiner, Daymond John, And Robert Herjavec|
|Episode||Season 4 Episode 15|
|Business Status||In Business|
Who Is The Founder Of Coffee Joulies?
The Coffee Joulies were created by Dave Pentrillo and Dave Jackson together. Dave Pentrillo began his career at Lutron Electronics in 1993 after graduating from college with a mechanical engineering degree.
He was appointed President of Coffee Joulies in 2011, a post he continues to hold today. He has also been working as an engineer while leading Coffee Joulies.
Dave Jackson earned his mechanical engineering degree concurrently with Pentrillo. He works as a mechanical engineer and serves as a co-owner of Coffee Joulies.
The Daves’ created and manufactured the initial batch of Joulies. A year later, they launched Kickstarter, raising $306,944 in less than two months.
The Kickstarter’s enormous success won them a spot in the Kickstarter Hall of Fame, which provided much-needed publicity and increased brand awareness.
Additionally, Kickstarter provided the Daves with the funds necessary to begin commercial production of Julies.
That same year, the company received an additional boost when the Shopify Build-a-Business competition crowned them a winner.
Coffee Joulies Before Shark Tank
The Coffee Joulies were invented by Dave Petrillo and Dave Jackson, mechanical engineers from New Jersey.
The Joulies were little stainless-steel capsules filled with an inventive substance that quickly brought a hot beverage to a drinking temperature.
This would allow the capsules to keep the liquid at its temperature for an extended period.
They initially raised funds through a Kickstarter effort in March 2011. Their objective was $9,500, which they met in three days.
They had earned a significant boost from Kickstarter towards the end of the month-long campaign. 4,800 backers gave more than $300,000 to bring their idea forward.
They were able to complete their production process and convert their concept into a finished product thanks to their initial success and substantial financial backing.
How Was The Shark Tank Pitch Of Coffee Joulies?
The Shark Tank episode 413 featured Dave Jackson and Dave Petrillo pitching Coffee Joulies. They seek a $150,000 investment in exchange for a 5% stake in the business.
The Coffee Joulies are made of a proprietary substance that melts when exposed to excessive heat and then returns the heat to the beverage when it solidifies.
Demonstrating the device to the Sharks, the couple states the device can preserve coffee at 140 degrees for up to five hours.
After three hours since the Sharks coffee was poured, it is still steaming hot.
Joulies sell for $50 per package of five and are made at $3.60 per piece. The business generated $575,001 in revenue and $50,000 profit last year, which is cash flow positive.
The company anticipates exceeding one million in sales over the next year thanks to agreements with Bed Bath and Beyond and Officemax.
Daymond John observes that the remaining Sharks are “ready to perform some truly intrusive surgery” on the couple regarding the 5%. He has departed.
Kevin O’Leary says he wants a 33% stake in any company he finances, but he’s intrigued by the industry.
He gives them $150,000 in exchange for $6 a sale until his investment has been recouped and $1 after that.
Lori Greiner offers to participate in the arrangement, bringing her QVC connections. Robert Herjavec also steps in to sweeten the deal, giving his contacts at Bed Bath and Beyond.
Daymond John wishes to join the deal with the other Sharks. Kevin O’Leary introduces himself as “Mr. Retail” and encourages him to participate in the deal.
Mark Cuban offers $250,000 in exchange for a 12% stake in the company. The Sharks debate over the best way to advertise the product.
Jackson and Petrillo decide to consult a friend about the available offers. Sharks discuss the offer while Jackson and Petrillo are out of the room.
O’Leary then renegotiates the arrangement and reduces the wholesale royalty rate to $3.
The pair choose the four-Shark arrangement, launching Coffee Joulies on a Shark agreement.
Final Deal: $150,000 for a royalty of $6 per unit until $150,000 is repaid.
What Happened To Coffee Joulies After Shark Tank?
It’s not surprising that Coffee Joulies have grown in popularity following their appearance on the Shark Tank and the sharks’ attention.
They had already won the Shopify Build a Business Competition by the time they appeared on the show, a competition that included high-end marketing advice and a cash award.
The Joulies have benefited from widespread support and assistance from several sources; online sales have soared, and they have received vast marketing assistance.
Bed Bath & Beyond sold a similar product for a while, but it is no longer available.
The product has been negative reviews, mostly since ceramic mugs absorb heat from a hot beverage.
A product can be kept warm for a shorter time in this case. Coffee Joulies can be purchased on both the friendly-looking website and Amazon, which offers a reasonable and well-marketed discount when purchased together with Thermos insulated mugs.
A similar product, Booze Joulies, was introduced in 2015 to help cool and maintain a glass of scotch’s temperature in reverse.
The Daves maintained their composure in the face of adversity and never gave up, eventually realizing their dream as they built the Joulies brand.
I’ll toast them with a cup of somewhat lukewarm coffee and wish them the best of luck in the future.
Coffee Joulies Shark Tank Update
Coffee Joulies benefited from the boost provided by Shark Tank for new inventions, but their agreement with the Sharks was never finalized.
Coffee Joulies are still available through Bed Bath and Beyond’s website and other retailers such as Amazon, even though they briefly sold a knock-off product. Sharks strike a lucrative contract with Coffee Joulies, according to reports.
The website of Coffee Joulies is still operational, but everything has been “sold out.”
They are currently unavailable on Amazon. Both men describe their companies as “open” on their LinkedIn profiles, but Peleton has employed Petrillo since May 2019.
Is Coffee Joulies Still In Business?
The agreement was never completed following Shark Tank’s new inventions. Customers are attracted to it because it cools a wide range of hot temperatures, so your tongue will never burn, and then gradually releases heat to a level that heats your cup of coffee or tea.
This generates income for the business, as consumers enjoy trying new things. Furthermore, they were also available on Amazon, which allowed them to reach out to customers across the globe.
A set of five Joulies costs $50, and each costs $3.60. The company has good cash flow, having generated $575,000 in revenue and $50,000 in profit in its first year.
The company anticipates one million sales from Bed Bath & Beyond and OfficeMax contracts.
The creator of Coffee Joulies never shut down the website despite Bed Bath & Beyond’s marketing of knock-off products.
You can still purchase them on Amazon. Based on the most recent update from 2022, the company has not updated its website since 2017. Although its public LinkedIn profile isn’t listed, it has no product available on Amazon.