Second only to the Pebble as one of the most successful Kickstarters ever, Coolest Cooler raked in more than $13 million in funding during its month-long campaign. The portable cooler is a barbecue-er’s dream, offering a battery-powered blender, a cutting board, waterproof Bluetooth speaker, a USB charger, and storage space for up to 55 quarts of chilled refreshments.
Unfortunately, the ultimate camping complement is becoming a nightmare for the company and backers alike. CEO Ryan Grepper announced last year that problems with the blender would delay the shipment of the unit this spring. Because it had to find a new source of blenders, the company also confirmed it was going to sell a select number of units on Amazon to “keep the lights on” and “make certain that every single backer’s Coolest can get made and shipped.” This decision caused an outcry among supporters, who wondered why these completed units were being sold to new customers instead of being sent to pre-order customers.
Now the company is struggling financially again as it moves into the shipping stage. In an email sent to supporters, the company confirmed it is seeking investors to provide the capital needed to ship the rather heavyset coolers to its backers. Grepper writes in the email that the firm is “in the process of identifying the right partner who can provide the capital and strategic resources to fund the remaining production of backer rewards and help grow the company to the next level. We’re not quite there yet, but it is moving forward.”
Several backers have already received their Coolest coolers to mixed reviews. The remaining backers will have to continue to wait for the cash to come in so Cooler can begin to move its inventory and get these innovative items into the hands of its patient customers.
