Coffee Joulies are stainless steel “beans” that absorb heat quickly. When dropped in a mug of coffee, the material of Coffee Joulies — a “proprietary phase-change material” — solidifies and keeps the coffee at the perfect temperature (140 F) and for hours. The founders of Coffee Joulies, Dave Petrillo and Dave Jackson, pitched their business on Shark Tank in 2013. They made a deal with four out of the five sharks: Kevin O’Leary, Lori Greiner, Daymond John, and Robert Herjavec. In exchange for a $150,000 investment, Petrillo and Jackson agreed to pay them $3 on every wholesale unit sold and $6 on every retail unit sold until the investment was returned. After that, they would pay the investors $1 per unit in perpetuity.
Since appearing on Shark Tank, Coffee Joulies has expanded the brand by rolling out Booze Joulies, stainless steel shells (similar to Coffee Joulies) that “freeze below the freezing point of water, making them literally colder than ice” to keep a glass of (say) scotch cool for a longer time without watering down the liquor.