When entrepreneurs Tom Osborne and Mike Robb walked into the Shark Tank with their Beer Blizzard, the sharks weren’t quite sure what to think. Their invention is a small plastic disc that fits perfectly in the little dome-shaped gap at the bottom of an aluminum beer can to cool it down. The pair claimed it’s better than a beer koozie because it stays cold for 20 minutes longer. They even have utility and design patents pending.
The Sharks were intrigued by the Beer Blizzard but they were not sold on the business model. Lori Greiner was first to offer the pair a $100,000 investment in exchange for 20% of the company. Tom quickly began to respond, but Lori interrupted him, saying, “Wait there’s more.” She then offered the duo another $100,000 investment in exchange for 25% of the company.
Mark Cuban also offers them a deal, but they take the one with Lori because Mike says he has a crush on her. Daymond John decides not to invest because he believes it will be a promotional item and doesn’t have the relationships that would help them expand to large retail chains like Target or Bed Bath & Beyond.
After the episode aired, Ozzy and Mike started seeing huge sales numbers for their product. They worked hard to get their product into major retailers but their efforts were for naught. They shut their doors in 2018 and are now out of business.