Cool Wraps Shark Tank Update – Shark Tank Season 4

By Rob Merlino  |  Last updated: August 7, 2026

Gift wrapping can be frustrating, especially when dealing with oddly shaped presents. Jeffrey Miller believed he had a simple solution: a heat-shrink gift bag that created a perfectly wrapped gift using nothing more than a household hair dryer.

Jeffrey Miller pitched Cool Wraps, a heat-shrink gift-wrapping solution, on Shark Tank Season 4, Episode 20, which aired on March 29, 2013.

He asked the Sharks for $100,000 in exchange for 40% equity in Cool Wraps. Would the Sharks see the potential in his unique gift-wrapping product?

About Cool Wraps

Jeffrey Miller was a product designer and inventor who spent years developing practical consumer products. Before appearing on Shark Tank, he had already marketed Cool Wraps through QVC, gift stores, and fundraising programs.

He created Cool Wraps to make gift wrapping easier by developing heat-shrink gift bags that fit tightly around presents. Instead of using scissors and tape, users only needed to place a gift inside the bag and apply heat using a regular hair dryer.

The specially designed plastic film conformed to the shape of the gift as heat was applied, creating a smooth, wrinkle-free finish that looked professionally wrapped.

Miller spent years developing and promoting the product before bringing it to Shark Tank. He had appeared on QVC with Cool Wraps and created an “as seen on TV” style commercial to introduce the product to consumers.

Cool Wraps were packaged for gift store retail displays and branded for specific stores. Miller also sold the product on the fundraising circuit.

Cool Wraps Shark Tank Pitch

Jeffrey entered the Tank seeking $100,000 in exchange for 40% equity in Cool Wraps. He demonstrated how the shrink-wrap gift bags worked.

When Robert Herjavec asked about the pre-wrapped gifts on display, Jeffrey became visibly nervous and briefly lost his train of thought before continuing his presentation.

He explained that although the product had existed for roughly a decade, limited funding had prevented widespread commercialization. Miller also revealed that his former partner had been unwilling to provide the collateral needed for necessary loans.

Miller told the Sharks that he owned the company, but admitted his own sales skills had been an obstacle.

What Makes Cool Wraps Unique?

Below are some features of Cool Wraps that make it unique in the gift wrapping market:

• Heat-shrink gift bags that used heat from a regular hair dryer to create a smooth, professionally wrapped look.
• No scissors, tape, or advanced wrapping skills required, reducing gift-wrapping time and making the process fast and mess-free.
• Ideal for awkwardly shaped gifts that are difficult to wrap using traditional paper and tape.
• Designed to help everyday consumers create attractive gift presentations with minimal effort.

Did Cool Wraps Get a Deal on Shark Tank?

Robert Herjavec believed Miller was not the right salesperson for the business and did not see the market opportunity, so he opted out.

Lori Greiner liked the product but believed it had value and preferred acquiring the entire company instead of becoming a minority investor. She offered to buy Cool Wraps outright for $150,000.

Mark Cuban made an offer of $250,000 in exchange for 100% ownership of the company plus a 3% royalty.

Jeffrey Miller accepted Mark Cuban’s offer.

Cool Wraps Shark Tank Update

Despite accepting Mark Cuban’s offer in the Tank, the partnership never officially closed. The deal eventually fell apart during the paperwork process.

Normally, a Shark Tank appearance can create a major boost in sales through what is commonly known as the “Shark Tank effect.” Cool Wraps experienced a similar surge in customer interest, but inventory shortages prevented many interested buyers from placing orders.

When the episode aired, Jeffrey Miller’s website reportedly received more than one million visitors. Unfortunately, the company was not prepared for the sudden demand, and customers found Cool Wraps to be sold out online and in stores.

Cuban had purchased a product with strong market potential, but the opportunity was never fully realized because the business lacked the resources needed to scale quickly.

After the deal with Mark Cuban collapsed, Miller continued operating the business independently. When the episode later re-aired, he promoted the product with special “Shark Tank” offers, including a buy-two-get-one-free promotion, in an effort to drive sales.

Business Growth and Challenges

By 2015, the company had developed a stronger web presence. Its social media accounts were updated slowly, with the last posts appearing in February and May 2015, but the product was still available for sale.

The same year, Cool Wraps received a nomination for Best New Product at the New York National Stationery Show, suggesting the business had regained some momentum after its Shark Tank appearance.

Cool Wraps continued selling through distributor partnerships, providing wrapping solutions for customers who struggled with traditional gift wrapping. The product helped consumers create professionally presented gifts, especially when dealing with awkward shapes and sizes.

Although the company reported strong distributor sales, the business later lost momentum as its online presence disappeared.

The company continued to operate through distributors and claimed to have broad distribution across Europe and the Middle East.

Business Closure

By 2021, signs of decline became increasingly apparent.

• The website was down.
• Social media accounts had not been updated for several years.
• Online availability became increasingly limited.

Although the website briefly returned after displaying a message that a new website was being developed, the domain was later abandoned, and by 2022 it was no longer claimed.

By February 2022, Cool Wraps was no longer available for sale anywhere online.

As of July 2025, the company was out of business. Its social media accounts had not been active since 2015, and it appeared the product had failed to capitalize on the Shark Tank exposure.

Jeffrey Miller After Cool Wraps

After exiting the gift-wrapping business, Jeffrey Miller returned to his career in product and experiential design. He eventually sold Cool Wraps, although it has never been publicly disclosed when the sale occurred or who acquired the business.

He later worked as a 3D Environmental and Experiential Designer for Cramer and Freeman Expositions before focusing on freelance design work.

According to his LinkedIn profile, as of 2025, he operates Jeffrey Miller Design.

Where Can You Buy It?

Cool Wraps products were no longer available for purchase. They had previously been sold in stationery shops, but they were eventually no longer restocked.

The X and Facebook accounts for the product were still available as reminders of the brand.

Posts About Cool Wraps on Shark Tank Blog

Want to learn more about the product and its journey beyond the show? Check out our related article below for additional insights: Shrink Wrap Gift Bags.

Quick Summary

• Jeffrey Miller pitched Cool Wraps, a heat-shrink gift wrapping solution that created professionally wrapped gifts using specially designed plastic film and only a household hair dryer.
• Mark Cuban offered $250,000 for 100% ownership of the company plus a 3% royalty, and Jeffrey accepted the offer, although the deal never closed.
• Cool Wraps later reported strong distributor sales before eventually losing momentum and going out of business.

Check out other Shark Tank Season 4 Episodes.

Curious to know about more products from Shark Tank Season 4 Episode 20? Check out their business updates!

• Drop Stop Shark Tank
• Traditional Fisheries Shark Tank
• Simple Sugars Shark Tank
• Buggy Beds from Shark Tank

By Rob Merlino

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Entrepreneur, author, and raconteur, Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and hot dogs. A father of five, he freelances for a variety of publications and manages a stable of websites, including Shark Tank Blog, Hot Dog Stories, RobMerlino.com, and more.