Rocco Shark Tank | Season 16
Sam and Alyse introduced their smart mini fridge, Rocco, designed for organized drinks, on Shark Tank Season 16.
Aren’t you tired of digging through your fridge to find the right drink? Well, it doesn’t have to be anymore because Rocco smart fridges are designed to keep your drinks neatly organized.
The founders of Rocco, Sam Naparstek and Alyse Borkan, have 20 years of combined experience with startups.
Alyse revealed she cold-emailed Casper, the mattress company, and helped them build the brand from the ground up. Then, She also worked with other companies. Sam spent many years at Away, leading supply chain and product development. Eventually, his work took him to the fridge factory.
Would the Sharks be interested in their “super smart” innovation?
About Rocco
| Category | Details |
| Founder | Sam Naparstek and Alyse Borkan |
| Product Type | Smart Mini Fridge |
| Funding (Pre-Shark Tank) | $1 Million |
| Investment Asked | $600,000 |
| Equity Offered | 3% |
What Happened on the Shark Tank Episode?
The entrepreneur pair started the pitch in an interesting manner. They showed how difficult it is to find a drink in traditional fridges, almost as if they’re not really made for storing drinks.
The founders then explained the unique features of their fridge, saying that it isn’t just any other fridge. Sharks were served some drinks, and they all stood up and did respectful cheers together.
Kevin asked about the selling price of the product, and the founders shared that Rocco retails for $1,495. Currently, they are offering early-access pricing at $1,295.
Shark Kevin asked if that was a lot. Lori Greiner told him that it was not. She actually just bought two such fridges. She added that Rocco is set at the right price.
The landed cost of each unit is $575. They shared that the margins are not that fruitful. They are selling the product through direct-to-consumer channels. Until now, they have sold just over 3,000 units.
The Sharks asked if the entrepreneurs had raised any money for the business. Sam told them that they raised $1 million about two years ago. That valuation was $10 million.
Although they are now just eight months into this market, they have made $4 million in revenue. They are already profitable.
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What Makes Rocco Unique?
The Rocco Smart Fridge is designed to look like furniture. This allows you to place all of your favorite drinks where you entertain—like the living room—without disrupting your home’s aesthetic. It has a one-of-a-kind shelving system. It can store all sizes of bottles and cans, from small bottles of ginger shots to large bottles of champagne.
The top of the fridge doubles as a pour-serve. It can be your store station, a platform where you can put your glasses or bottles when you are drinking them, making it a bar cart!
It has a smart feature that lets you see what’s inside your fridge from anywhere. You can just check it on your phone via the Rocco app.
Did Rocco Get a Deal on Shark Tank?
After discussing the product qualities and its market need, the Sharks shared their opinions.
- Kevin offered to give $600k for a 10% stake.
- Shark Robert said he liked the product but wasn’t sure if it was the right deal for him.
- Mark Cuban and Daniel didn’t see how they would get their money back because, according to them, the business had to make a lot of net profit for that.
- Lori didn’t like the valuation either.
- In the chain of events, the entrepreneurs made Kevin take his offer back.
- However, Lori then offered $600k for a 4% stake + a royalty of $50 per unit sold until $900k is paid.
The entrepreneurs made a deal with Shark Lori.
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What Happened to Rocco After Shark Tank?
Getting a deal with one of the “Sharks,” Lori Greiner, could help them sell their fridges in more stores and get them to more people. According to Google Trends, Rocco Fridge’s website traffic experienced a significant increase. Since their fridges look nice and have smart features, they might become really popular in new homes.
Where Can You Buy It?
These fridges look amazing when placed in your living room. They blend in well and, in fact, become a center of attraction. To get one, go to the official website of Rocco Fridge. Check out their Instagram to keep track of what’s new.
Quick Summary
- Sam Naparstek and Alyse Borkan brought their company, Rocco, to Shark Tank Season 16.
- Rocco makes super smart fridges that keep your bottles safely organized.
- The entrepreneur duo secured a deal with Shark Lori.
FAQs
1. How cold does the Rocco fridge get?
The temperature can go down to 37°F in the Rocco mini fridge.
2. What size is the Rocco mini fridge?
The dimensions of the Rocco mini fridge are 34.5″ x 24″ x 16″. The design blends well with your interior.
3. What is the warranty on a Rocco refrigerator?
Rocco comes with a 10-year warranty. Most fridges offer way less than that. It is almost 10x longer than most wine fridges.
