Overview
Chill Systems was founded by Brian Bloch and Chase Mitchell, two business administration graduates from the University of Southern California.
The company was launched in 2018 after a successful Kickstarter campaign that raised over $53,172 from 473 backers.
Chill Systems is a lightweight, ice-free beverage chiller that is designed to replace traditional heavy drink coolers for beach and barbeque hangouts. The product features an insulating wrap and a cooling gel, which helps it stay cold for 4-6 hours.
However, it needs to be put in the freezer overnight before use.
Shark Tank Appearance
In 2021, Brian and Chase appeared on season 12 of Shark Tank, asking for $150,000 for 15% equity.
The Sharks were skeptical of the product, and the pitch went downhill quickly once the founders admitted that their costs were high.
Kevin O’Leary was the first to opt-out, and the other Sharks soon followed.
Overall, the pitch didn’t go as planned, and the founders were advised by Kevin O’Leary to stop the business and return to their regular jobs.
After Shark Tank
Despite the poor reception on Shark Tank, Chase and Brian continued with Chill Systems until January 2022. However, as of 2024, Chill Systems is worth $0, and the company has gone out of business.
The official website is currently offline, and the domain name is for sale on Godaddy Auctions. The iceless chillers are out of stock on Amazon, and the company hasn’t posted on social media for over two years.
Both founders have returned to their regular jobs, with Chase working at Coinbase as a Partner Success Senior Associate and Brian working at Elbay Endeavors.
The Founders
Brian Bloch and Chase Mitchell both have impressive resumes.
Brian started as a warehouse operations specialist at Dornbracht and later became a business analyst at Apple.
Chase began his career as a salesman at Vector Marketing, but his most notable position was as an account manager at Google.
Founding Chill Systems
The idea for Chill Systems was born out of Brian and Chase’s desire to bring their own product onto Shark Tank. They spent two years bringing the idea to life and eventually launched the product in 2018.
By 2020, the startup had made $111,000 in sales.
Lessons From Chill System’s Success
Based on the Shark Tank episode about Chill Systems, here are three practical tips for aspiring young entrepreneurs:
1. Understand and optimize your costs
The Chill Systems team initially had high production costs and were selling their products at a loss to prove market viability.
Entrepreneurs should thoroughly analyze and optimize their cost structure early on to ensure sustainability and profitability.
Reducing costs without compromising quality can make your product more competitive and appealing to investors.
2. Deliver a clear and concise pitch
The feedback from the sharks highlighted the importance of a clear and compelling pitch.
Entrepreneurs should focus on succinctly explaining the unique features and benefits of their product, avoiding unnecessary complexity or tangents.
A well-prepared pitch that quickly conveys the value proposition can make a significant difference in capturing interest and investment.
3. Emphasize product differentiation and market need
While Chill Systems emphasized their sustainability mission, the Sharks were skeptical about the practicality and differentiation of their product.
Entrepreneurs should ensure that their product addresses a genuine market need and clearly stands out from competitors.
Highlighting tangible benefits and unique selling points can help convince investors and customers of the product’s value.
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