Where Is BottleKeeper From Shark Tank Today?
Adam Callinan and Matt Campbell, cousins and beer drinkers from El Segundo, California, showed up on Season 10 of "Shark Tank" with a simple truth: Nobody likes warm beer. That theory led them to believe that their product, the BottleKeeper, would be a hit with both consumers and the Sharks. The bottle sleeves, made from a stainless steel outer layer and a quarter-inch neoprene insulation, keeps the bottle cold. Its cap even allows users to reseal your bottle. The creation was a hit on "Shark Tank," and it's still popular with consumers today.
The BottleKeeper wasn't just designed to keep bottled beer cold; it was also intended to keep it safe, preventing it from shattering all over the place should you drop it. In one memorable moment during their pitch, they invited guest Shark and former New York Yankees slugger (and future chairman of Presidente beer) Alex Rodriguez to make a pitch of his own. A-Rod threw a baseball at a stack of BottleKeepers with full beer bottles in them — and not a single one broke. This wasn't your regular old beer koozie.
After Callinan and Campbell shared sales numbers with them, the Sharks entered into a bidding war — for a not-insignificant amount of money.
What happened to BottleKeeper on Shark Tank?
Matt Campbell and Adam Callinan were seeking a hefty sum when they came on "Shark Tank." They came to the Sharks asking for $1 million in return for 5% equity in their business. But then, they also had an estimated $20 million valuation of their company to back up their ask. They also claimed to have already sold that much in product over the past three years.
So why did they have any need for financial backing from the Sharks? According to Campbell and Callinan, they needed the money to buy inventory for the thousands of stores that wanted to carry the BottleKeeper. They also pointed out that, though they had netted millions of dollars in recent years, they had also had to spend the lion's share on lawyers to stop imitators from infringing on their patent.
At first, it seemed that A-Rod and Kevin O'Leary would be the ones to back the BottleKeeper, with the two offering $500,000 plus a loan for the same amount at 11% interest, in return for a 20% stake in the company. However, Lori Greiner and Mark Cuban brought a combined offer that would get Campbell and Callinan their full million without any loans or interest. In the end, the two entrepreneurs shook on a deal with Cuban and Greiner for $1 million in return for 5%, plus a royalty of $1.50 per unit sold until $2 million was recouped.
BottleKeeper after Shark Tank
"Mark and Lori have exceptional insight into the growth and best practices of hundreds of companies," said Adam Callinan on CNBC's "Make It," "and the guidance they'll be able to share — alongside their incredible networks and contacts — will be invaluable." But despite this praise, and as sometimes happens on "Shark Tank," the deal negotiated and shook on during the BottleKeeper entrepreneurs' appearance didn't end up going through. Why this was the case isn't completely clear — but ultimately, Campbell and Callinan would end up getting their cool million.
In the days after their episode aired, buyers flocked to BottleKeeper's website. Sales increased by more than 300%, leading to an estimated $1 million in product sold. That was in 2013. In the years after, the BottleKeeper was distributed to Ace Hardware, Meijer, Macy's, True Value, and other brick-and-mortar retailers. It could also be found online at Amazon and Walmart.
In 2018, Business Insider found that the company was selling two-and-a-half units every minute and claimed that BottleKeeper was on track to sell $15 million in revenue that year.
Is BottleKeeper still in business?
The BottleKeeper appears to still be going relatively strong. The product is still available through the above online and retail outlets, and the company has expanded its line of products. Along with the original BottleKeeper, there are the BottleKeeper X and a BottleKeeper Stubby, designed for shorter and wider 12-ounce beer bottles. All BottleKeepers also come with a bottle opener built into the lid.
The BottleKeeper website now also includes the CanKeeper. Previously they appear to have made different sizes of CanKeepers to hold standard 12-ounce cans, tall 12-ounce hard seltzers, and those infamous 16-ounce tallboys. But those appear to have been phased out in favor of a 3-in-1 model that accommodates almost any size of can. The company also offers a PintKeeper (which, as the name implies, keeps pints of beer cold) and a ChillKeeper cooler designed to hold either 16 or 32 cans.
The website also has a selection of accessories for sale, from spare parts to hats and t-shirts and stickers. There's also a custom shop that can put various logos and designs on bulk or corporate orders of BottleKeepers.
What's next for BottleKeeper and its founders?
Though BottleKeeper is still alive and kicking today, it seems to have lost both of its founders. Though Matt Campbell and Adam Callinan are both mentioned as part of the BottleKeeper team on the company's website, their respective LinkedIn pages show them to have moved on to other ventures.
Callinan, now based in Bozeman, Montana, left BottleKeeper, where he was CEO, in December of 2021, and in late 2022 founded a company called Pentane Systems. Meanwhile, Campbell's LinkedIn shows him now based in Phoenix, Arizona. As of January, he's working as the chief operating officer for private lending company Lukrom.
It's not clear why the two parted ways with BottleKeeper or the terms of their departure. Though BottleKeeper's main products are still available for purchase, several variations are out of stock or unavailable, both on the company's website and its Amazon page.