Cool Wazoo Shark Tank Update
The Cool Wazoo is a 5-in-1 diaper changing pad. You can use it as a car shade, park swing, high restaurant chair, shopping cart cover, and a diaper changing mat. The Cool Wazoo was created by Ginelle Mills, a Californian who appeared on Shark Tank in November 2012.
Cool Wazoo is a 5-in-1 multi-functional baby product designed to simplify and enhance parents’ lives with young children. Created by entrepreneur Ginelle Mills, Cool Wazoo functions as a changing pad, high chair cover, swing cover, shopping cart cover, and car sunshade.
It is a versatile, padded, and water-resistant product that provides a clean and comfortable surface for babies and toddlers during various daily activities.
The idea behind Cool Wazoo is to offer parents a single product that eliminates the need to carry multiple separate items for each specific purpose, saving space and reducing the clutter in a diaper bag.
The product is designed to be easily foldable, lightweight, and easy to clean, making it a convenient solution for busy parents on the go.
Cool Wazoo gained significant attention after being featured on Season 4 of the TV show Shark Tank in 2012. Ginelle Mills pitched her product to the Sharks, seeking investment to help grow her business, improve the product, and reach a broader market.
She entered the Tank to acquire a 25% equity stake in exchange for $65,000. Instead, QVC’s Lori Greiner got her exactly what she wanted.
What is a Cool Wazoo?
A 5-in-1 baby cover, the Cool Wazoo is a changing pad, high chair cover, grocery cart cover, automobile shade, and bucket swing seat insert all in one. When Ginelle Mills’ daughter was burned on a hot metal swing, she invented Cool Wazoo to prevent small children from injury.
Ginelle’s product development was hampered when manufacturing errors wiped out over 80% of a recent order.
She has received much coverage from the Today Show and The Doctors but has only sold $20K of merchandise. She aims to lower the per-unit cost by 65 percent by bringing production to Hong Kong.
| Company Name | Cool Wazoo |
| Entrepreneur | Ginelle Mills |
| Product | Multifunctional Heat Resistant Changing Pad |
| Investment Asking For | $65,000 For 25% equity in Cool Wazoo |
| Final Deal | $65,000 For 25% equity in Cool Wazoo |
| Shark | Lori Greiner |
| Episode | Season 4 Episode 8 |
| Business Status | In Business |
| Website | Visit Website |
Who Is the Founder of Cool Wazoo?
Ginelle Mills is the founder of Cool Wazoo.
When Did Cool Wazoo Founder Appear on Shark Tank?
Ginelle Mills appeared on Shark Tank Season 4, Episode 8, to discuss her product Cool Wazoo, which can cover strollers, diaper changing pads, grocery carts, bucket swings, and automobiles.
A working parent will find the Cool Wazoo ideal. This product can ensure your children stay germ-free on different surfaces.
Your children will have a safe surface to play on, and the waterproof pad’s flexible design allows it to fit into any space without adding bulk. You can put the Cool Wazoo into your diaper bag to make it portable.
Who is the Founder of Cool Wazoo?
Ginelle Mills designed the Cool Wazoo after a hot metal swing burned her daughter. It took her months to perfect the product and gather the supplies before starting the company in 2009.
Ginelle stated in her pitch that her husband had invested $100,000 into the show’s production. Genelle appeared on the Today Show with Katie Lee and the doctor in 2011. The result was greater visibility for her.
Shark Tank was an opportunity for Ginelle to get a $65,000 investment for a 25% stake in her venture to relocate production to Hong Kong and reduce manufacturing costs.
Cool Wazoo Before Shark Tank
She explained to the Sharks that her product idea was born when her daughter got burned while swinging on a park swing.
The swing was extremely hot in the summer, and she could not find a product to protect her daughter from the heat.
Ginelle decided to make one at that point. Would the Sharks benefit from the Cool Wazoo, a four-in-one product? Let’s examine this more closely.
How Was the Shark Tank Pitch of Cool Wazoo?
Ginelle appeared on Shark Tank requesting an investment of $65,000 for a 25% stake in Cool Wazoo. Ginelle then showed the sharks a diaper bag packed with baby items, such as a high restaurant chair, a car shade, and a grocery cart; the bag was so full of baby items that there was no room for diapers.
When Ginelle came up with the idea to integrate everything into one, she had the same problem as the shark.
Ginelle introduces Cool Wazzo, a five-in-one multifunctional station bag that can cover a seat, change diapers, and a supermarket cart.
Ginelle says Cool Wazoos contain a substance that re-directs heat back to its source. Kevin states he did not have this at five years old but still survived.
As Ginelle answered, all purchases of this product are made by worry-stricken mothers concerned with germs and healing.
Marks wants to know how Cool Wazoo compares to its competitors. Ginelle claims that corporations produce children’s products, typically large and individually constructed for one particular purpose. Cool Wazoo is flexible so that it can fit into any shape.
In addition, Mills informs the shark that she was given 40 seconds of airtime on the chat show with Katie Lee. Lori asks if the 40 seconds of airtime were valuable.
Ginelle replied that manufacturing was in progress, but 85 percent of the orders arrived incorrectly, so she had to return them due to the staff’s inexperience with creating the products.
Genelle claims that she never received a return for the same. Additionally, Ginelle says she was offered a part in a Christmas special episode of a television show called The Doctors.
In the original plan, she was to donate 2500 onesies to the audience, but she could not do that due to a change in show design. Mark asks how she got her exchange, including what she got.
When Kevin asks about sales, Ginelle informs Kevin that the Cool Wazoo made more than $20,000 last year.
She explains that she is not currently focused on selling since she is moving her manufacturing to Hong Kong, where the price will be lower. Mark wonders what her wages are in America.
Ginelle tells Robert that one Cool Wazoo pad costs $30 to produce in America, which stuns him. Additionally, Ginelle shares that this item has an MSRP of $65.95 and a wholesale price of $32.45.
Mark Cuban intervenes, saying she only makes $2 per wholesale sale. Moreover, he wants to know how much shipping to Hong Kong will cost.
She says it will cost her only $11, so he agrees. Ginelle tells them she recently received orders from a Canadian dealer for 1000 units. Lori declares that Ginelle sounds lovely, adding that it would be an excellent business opportunity for her.
According to Mark, the problem with Cool Wazoo is not the product itself but the fact that it is not yet a company. Then she looked sad and tried to hold back the tears as each shark took a step back.
Ginelle says she worked hard to get into Shark Tank and that being on the show means a lot to her. She spent nearly two years creating the product.
Lori then offered $65,000 for a 25% stake in the company, which was her original proposal. To which Ginelle was more than happy to agree.
Final Deal: Lori Greiner agreed to invest $65,000 for a 25% stake in Cool Wazoo.
Cool Wazoo Shark Tank Recap
Ginelle Mills presented her Cool Wazoo product on Shark Tank during Season 4, Episode 8, which aired on November 2, 2012. She entered the tank seeking a $65,000 investment in exchange for a 25% equity stake in her company.
During the pitch, Ginelle demonstrated the multiple uses of Cool Wazoo, highlighting its versatility as a changing pad, high chair cover, swing cover, shopping cart cover, and car sunshade.
She explained how this 5-in-1 product could save parents time, money, and space by eliminating the need to carry separate items for each purpose.
The Sharks were intrigued by the concept, but some had concerns about the product’s price point and manufacturing cost.
Ginelle revealed that she had struggled to find a cost-effective manufacturer and was producing the Cool Wazoo at a high cost, which impacted the retail price and profit margins.
Despite the concerns, Lori Greiner saw potential in the product and believed she could help Ginelle find a more affordable manufacturer and improve Cool Wazoo’s marketability.
Lori offered Ginelle the full $65,000 investment in exchange for a 25% stake in the company, a significantly higher equity share than Ginelle had initially proposed.
After some negotiation, Ginelle agreed to the deal, securing Lori’s support to help grow her business and expand the reach of Cool Wazoo.
Who are the Investors of Cool Wazoo?
The sharks were assured Ginelle’s husband fully supported the business. Ginelle’s husband invested $100,000 to assist her in starting her business. Lori Greiner invested $65,000 in Ginelle Cool Wazoo for 25% of the ownership in 2011.
What Happened To Cool Wazoo after Shark Tank?
The Cool Wazoo is still available on Amazon Prime four years after being featured on Shark Tank. Babies R Us stores also license the Ginelle company under the Comfort and Harmony brand.
The company’s website now markets various products, so it’s not just for babies anymore. The Cool Wazoo website features plenty of fantastic items, including customizable pillows.
Ginelle’s debut on Shark Tank resulted in an overhaul of Cool Wazoo’s website, which now includes a Shopify eCommerce store. There aren’t many updates on Ginelle’s website or Facebook page, probably because she’s at trade shows.
The product will be available in stores by the end of the third quarter after Cool Wazoo participates in the San Francisco International Buyer Show in February.
Ginelle’s items are available on the company’s website and Amazon Prime. The experience was incredible.
Cool Wazoo Shark Tank Update
After appearing on Shark Tank and securing a deal with Lori Greiner, Cool Wazoo experienced increased exposure and public interest in their multi-functional baby product.
Lori Greiner’s involvement provided valuable financial support, mentorship, guidance, and expertise in retail and product development.
With Lori’s help, Ginelle Mills found a more cost-effective manufacturer, reducing production costs and improving the product’s profit margins. This enabled Cool Wazoo to be more competitively priced and appealing to a broader market.
Cool Wazoo has been featured on QVC, a popular shopping channel where Lori Greiner often showcases her products. This exposure helped increase sales and expand the brand’s reach to a wider audience.
While specific details on the company’s current revenue and growth are not publicly available, it appears that Cool Wazoo has carved out a niche in the baby product market, offering a convenient and versatile solution for busy parents.
The company maintains an online presence and continues to sell its products through its website and various online retailers.
What is the Valuation and Revenue of Cool Wazoo?
Ginelle revealed in 2011, when she appeared on the Shark Tank show, that her business Cool Wazoo was worth $240,000.
According to Ginelle, each Cooz Wazoo pad costs $30, retails for $65, and wholesales for $32. The Cool Wazoo company earned $20,000 in revenue in 2010. The more recent data for Cool Wazoo earnings is not available.
What Is the Net Worth Of Cool Wazoo?
The valuation of Cool Wazoo was $325,000 when it appeared on Shark Tank. The net worth of Cool Wazoo is $1 million as of 2023.
