Do you know someone (maybe even yourself – no judgment) who struggles with gift wrapping? Whether it’s rogue flaps, excessive tape, or paper patches, wrapping gifts can be a challenge. CoolWraps was designed by Jeffery Miller to solve this problem. Inspired by shrink-wrapped ships at a boatyard, CoolWraps offers a simple 1-2-3 process: stuff it, seal it, and shrink it. This alternative to traditional gift wrap is perfect for wrapping even the most oddly-shaped presents with ease.
After appearing on Season 4 of “Shark Tank,” Miller sought a partner to relaunch CoolWraps. While he received multiple offers from the sharks, the journey post-show was not as successful as hoped.
The CoolWraps pitch on Shark Tank brought both product potential and market concerns
During the pitch, Miller shared the struggles he faced in bringing CoolWraps to market. Despite initial success, securing financing proved difficult, leading to Miller becoming the sole owner of the company. While some sharks expressed concerns, Mark Cuban ultimately made an offer that Miller accepted, but the deal did not progress past the due diligence phase.
Failing to have the product available for purchase by the episode’s air date left CoolWraps unable to capitalize on the ‘Shark Tank effect’
After the episode aired, CoolWraps saw a surge in interest, but the product was not yet available for purchase online, missing out on potential sales. The deal with Mark Cuban ultimately fell through, leaving CoolWraps in a challenging position.
Despite a brief resurgence in 2015, CoolWraps never really managed to get up and running
While there was a brief revival in 2015, CoolWraps quickly disappeared from the market. The website remained active for several years before eventually shutting down, signaling the end of CoolWraps.
What’s next for CoolWraps founder, Jeffery Miller?
Although CoolWraps is no more, Jeffery Miller continues to work as a freelance visual designer. His current projects include designing retail stores and other creative endeavors. Despite the challenges faced with CoolWraps, Miller remains committed to his passion for design and innovation.
