Chris Stoilos and Jason Neubauer pitched their patent-pending product Coolbox on Shark Tank in April 2016. It’s a smart toolbox that comes with wireless Bluetooth speakers, USB ports, and a built-in rechargeable battery, among other amenities. On Shark Tank, they made a deal with investor Lori Greiner – a $500,000 line of credit at 5% interest for 15 percent equity in the company.
Since Shark Tank, Stoilos and Neubauer have been plotting a strategic plan to expand the business. The two entrepreneurs say they plan to license Coolbox to a large tool manufacturer, and to release a smaller Coolbox at a lower price point. The first Coolbox units will ship in February 2017.