Coolest Cooler

Last updated
Coolest Cooler
Coolest logo.jpg
DeveloperRyan Grepper
Release date24 July 2015 [1]
Discontinued06 December 2019
Sound Bluetooth water-resistant speaker [1]
Input2x USB charging port
(5 volts, 1 amp & 2.1 amp) [1]
Power20V Rechargeable lithium ion battery

The Coolest Cooler was a multi-function cooler that was initially funded through the crowdfunding website Kickstarter. In the summer of 2014, Ryan Grepper raised over $13 million, making it the most funded Kickstarter campaign of 2014. [2] In December 2019, the company announced that it was closing, with over 20,000 of the 62,642 original backers never receiving a cooler. [3] The project came to be regarded as Kickstarter's largest failure. [3]

Contents

Crowdfunding

Grepper was a product developer from Portland, Oregon. He first tried to raise funding for the product in November 2013 but fell short of the $125,000 goal and failed to secure any funding. He launched a second campaign on July 8, 2014, and critics attribute the success of the second Kickstarter campaign to the timing. [4] The Coolest received extensive press coverage when it topped the funding goals of the Pebble watch, and ended the campaign in August with $13,285,226 and 62,642 backers, making it the most-funded Kickstarter campaign of 2014. [2]

Background

Grepper designed the Coolest, initially using a weed whacker [5] to build a portable gas-powered blender. He subsequently re-engineered a cooler with a car stereo to bring to an Independence Day beach party for friends. Grepper has said that improvements in technology and the reduced size of components made him realize that the multi-function cooler could be engineered as a consumer product, and he developed a prototype using 3D printing technology. [6]

Features

It includes an ice-crushing blender, a Bluetooth water-resistant speaker, a USB charging port, LED lamps, a bottle opener with magnetic cap catch, plates, knife, corkscrew and a removable divider that can also be used as a cutting board. [1] The split lid design is made with steel hinges and includes cup-holders.

The cooler's hexagonal shape has a 55+ quart capacity. [7] The cooler is powered by a rechargeable lithium-ion battery and the removable Bluetooth speaker is also rechargeable and can be paired with a second speaker up to 30 feet away.

Development and delays

When Grepper launched the Kickstarter campaign for the Coolest, the company planned to deliver to backers their Coolest reward in February 2015. The success of the campaign significantly increased demand, and they were being made in China. [8] Due to the change in quantity, complexity of shipping, logistics and certification processes, production took longer than expected. In February 2015, the company announced a postponement to July 2015. [9] Grepper cited improvements and upgrades [10] as partial reasons for the delay in a post on the company's blog. [11]

The first units were shipped in July 2015 and by November 2015 tens of thousands of backers received their coolers. The company estimated it would clear the large backlog by April 2016. [12] During a live-streamed web conference in March 2016, Grepper admitted production had stopped and he was seeking an additional $15 million, one third of which would be put toward meeting 36,000 outstanding orders from backers. [13] In April 2016, Grepper added an option to spend $97 to get expedited shipping on the backer's delayed coolers. [14] In May 2016, it was reported that more than 10,000 backers supported this option and production resumed in China. [15] The company said it would fund delivery of the remaining 26,000 backer rewards from profits from retail sales.

In September 2016, after receiving 315 consumer complaints that year, the Oregon Department of Justice confirmed it was investigating Coolest Cooler [16] for possible violations of the state's Unlawful Trade Practices Act.

As of February 2017, many backers were still waiting, but Coolest said they would use funds from sales on their website to deliver coolers to backers at the rate of 30-50 per week. [17] In June 2017, Coolest LLC entered into an agreement with the Oregon Department of Justice that specified the plan for fulfilling the remaining Kickstarter Backer rewards. [18]

In December 2019, Grepper and Coolest LLC, announced they were ceasing operations and would comply with the Oregon Department of Justice agreement. More than 20,000 backers who didn't receive a cooler were told they could claim $20 back, leaving them significantly out of pocket compared to the original purchase price of around $200. [19] [20]

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References

  1. 1 2 3 4 "COOLEST COOLER: 21st Century Cooler that's Actually Cooler". Kickstarter. Retrieved 18 March 2016.
  2. 1 2 Smith, Chris (27 August 2014). "Move over, Pebble: The Coolest Cooler is now the biggest Kickstarter campaign ever". Boy Genius Report . Retrieved June 22, 2021.
  3. 1 2 "Coolest Cooler shuts down after 5-year saga, leaving 20,000 backers without Kickstarter reward". GeekWire. 2019-12-10. Retrieved 2022-02-25.
  4. ↑ Jeffries, Adrianne (27 August 2014). "The biggest Kickstarter ever failed the first time around". The Verge . Vox Media. Retrieved 18 March 2016.
  5. ↑ Volastro, Anthony; Rosenbaum, Eric (26 August 2014). "A new king of Kickstarter is crowned!". CNBC . Retrieved 12 May 2018.
  6. ↑ "The Coolest Cooler". fathommfg.com. January 8, 2021. Retrieved June 22, 2021.
  7. ↑ "The 'Coolest' cooler - 60 quarts of style with a built in blender, music and way, way more". www.coolest.com. Archived from the original on 8 May 2019.
  8. ↑ "Coolest Cooler Partners with Dragon Innovation on Production". Crowdfund Insider.
  9. ↑ Taylor Soper (15 December 2014). "'Coolest Cooler' shipments delayed in setback for record-breaking $13.3M Kickstarter campaign - GeekWire". GeekWire.
  10. ↑ "Coolest Cooler Selects Manufacturer, Upgrades Battery". Crowdfund Insider.
  11. ↑ "COOLEST COOLER: 21st Century Cooler that's Actually Cooler by Ryan Grepper — Kickstarter". Kickstarter.
  12. ↑ Hern, Alex (19 November 2015). "Trouble on Kickstarter as two massive projects hit the rocks". The Guardian. Retrieved 20 November 2015.
  13. ↑ Marum, Anna (8 March 2016). "Coolest Cooler needs another $15 million, creator says". The Oregonian . Retrieved 18 March 2016.
  14. ↑ Micah Singleton (13 April 2016). "$13 million Kickstarter project for a cooler continues to be a disaster". The Verge. Vox Media.
  15. ↑ Marum, Anna (May 6, 2016). "Coolest Cooler is restarting production". The Oregonian . Retrieved July 21, 2020.
  16. ↑ Marum, Anna (30 September 2016). "State launches Coolest Cooler investigation". The Oregonian . Retrieved 1 December 2016.
  17. ↑ Schlosser, Kurt (10 February 2017). "Coolest Cooler delivers new update as deliveries trickle out for still-waiting Kickstarter backers". Geek Wire . Retrieved 4 April 2017.
  18. ↑ Rogoway, Mike (June 27, 2017). "Coolest Cooler settles with Oregon Department of Justice". The Oregonian.
  19. ↑ Rogoway, Mike (December 8, 2019) [online date December 7]. "Coolest Cooler calls it quits, will refund backers $20". The Sunday Oregonian. p. A15. Retrieved July 21, 2020.
  20. ↑ Carman, Ashley. "Crowdfunding disaster Coolest Cooler is shutting down and blaming tariffs for its downfall. RIP to Coolest Cooler". The Verge. Retrieved June 10, 2021.
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