Cool Wraps Shark Tank Update – Shark Tank Season 4
Jeffrey Miller brought Cool Wraps to Shark Tank Season 4. Although he secured a deal from Mark Cuban, it never closed.
Jeffrey Miller pitched Cool Wraps, a heat-shrink gift wrapping solution, on Shark Tank Season 4 Episode 20, which aired on March 29, 2013.
Check out other Shark Tank Season 4 Episodes.
About Cool Wraps
| Category | Details |
|---|---|
| Business Name | Cool Wraps |
| Founder | Jeffrey Miller |
| Industry | Gift Wrapping, Packaging Solutions |
| Product | Shrink-wrap gift bags |
| Deal Status | Deal secured with Mark Cuban |
| Investment Asked | $100,000 for 40% equity |
| Deal Outcome | $250,000 for 100% equity + 3% royalty |
Miller designed Cool Wraps to help users who find traditional gift wrapping difficult. Instead of using scissors and tape, all you need to do is slide a gift into a Cool Wraps bag and apply heat using a regular hair dryer. The bag shrinks snugly around the item, creating a smooth, professionally wrapped appearance.
The gift bag will “magically” shrink to a wrinkle-free, snugly wrapped gift, and you’ll look like you stopped at the wrapping booth to have it professionally wrapped. Miller has appeared on QVC with the product and has an “as seen on TV” type of commercial for the product.
Cool Wraps are packaged for gift store retail displays and branded for specific stores. Miller also sells on the fundraising circuit.
Cool Wraps Shark Tank Recap
In the Tank, Miller asked for $100,000 in exchange for 40% equity in Cool Wraps. He presented the bag, giving a demonstration of the shrink-wrap gift bags. When Robert Herjavec asked about the pre-wrapped gifts on display, he struggled to maintain composure and lost track during the demonstration.
He explained that the product had been on the market for 10 years previously, but his former partner was unwilling to put up the collateral for necessary loans.
Miller owns the company, but his own sales skills have been an obstacle. Robert Herjavec was skeptical. “Obviously, you’re not the sales guy,” he said. “I don’t see the market, and I’m out.”
Lori Greiner saw potential in the product, but she wanted to buy Miller out for $150,000. Mark Cuban jumped in, offering $250,000 and a 3% royalty, but he required an immediate answer.
Miller ended up taking up Cuban’s offer.
What Makes Cool Wraps Unique?
The potential of this product lies in its quick convenience. It offered a fast, no-mess wrapping solution for users looking for convenience.
Cool Wraps was a quick and efficient way to fix a problem that most people have faced in their lives at some point, when they are running late for a party and have forgotten to wrap their gift, and neat arts & crafts is not their strong suit.
Cool Wraps Shark Tank Update
Normally, a Shark Tank appearance launches a product into the market. This phenomenon is commonly known as “the Shark Tank effect.” But in the case of Cool Wraps, customers were disappointed initially to find the product unavailable and nearly impossible to find online.
Cuban had his work cut out for him. He purchased a product with a robust potential market, but the brand needed to be built from the ground up.
The deal with Mark never closed and eventually fell apart during paperwork. In 2015, the company had a strong web presence. The social media was a bit slow to update, with the last posts showing up in February and May 2015, but it was clear the product was available for sale.
Cool Wraps took a product that had been tossed aside and turned it into a successful business. The company provided wrapping-challenged customers everywhere with a new way to wrap their awkwardly-shaped gifts.
As of August 2021, the website was down, and social media had not been updated for 7 years. Fast forward to February 2022, and Cool Wraps was no longer for sale anywhere online.
The company was still in business, but they were going the distributor route to sell. They claimed to have broad distribution in Europe and the Middle East. Revenue was $5 million per year as of 2022.
As of July 2025, the company is out of business. The social media handles have not been active since 2015, and it seems to be in line with products that could not capitalize on the Shark Tank hype train.
Posts About Cool Wraps on Shark Tank Blog
Where Can You Buy It?
Cool Wraps products are no longer available for purchase. It used to be available in stationery shops, but after a point, it never got restocked. The Twitter (X) and Facebook handles of the product are still present as a relic of the bygone era.
Quick Summary
- Cool Wraps offered shrink-wrap gift bags that conform to any shape, providing a professional look with just a hair dryer, perfect for wrapping awkwardly shaped gifts.
- Jeffrey Miller secured an offer from Mark Cuban, but the deal never closed. Cool Wraps struggled to capitalize on the Shark Tank effect.
- Cool Wraps is out of business, though they had $5 million in annual revenue before shutting down.
Curious to know about more products from Shark Tank Season 4 Episode 20? Check out their business updates!
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Where can I buy these?
Great product! Went to the website and couldn’t figure out how to order.:( Please advise.
Please let me know where I can buy this!
Love to get this product. I’m 75 wrapped 50 packages for Xmas. Wish I had shrink wrap. Have arthritis in my hands, very tough to wrap. Thanks, Sharon
PLEASE put up a website to order from. I KNOW I will be a customer. I can’t believe shark tank would not help. Love love love the ideal.
Please can you told us from where we can buy it?
this product looks like such a fun way to wrap presents with your kids. I have no idea why this hasn’t blown up. judging by the guy on shark tank he desperately needs to hire a couple of business people to help him. I love love love this product!