A pair of beer enthusiasts from Pittsburgh, PA entered the Shark Tank this week seeking a shark to invest in a business that offers the ‘Beer Blizzard,’ a low tech-device that keeps beer cold for an extended period of time.
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The Beer Blizzard is basically a reusable plastic ice cube designed to fit into the bottom indentation of any beer or soda can on the market.
‘Beer Blizzard’ inventors Tom Osborne and Mike Robb entered the tank seeking $100,000 for 20% equity in their business.
Mark Cuban was the first shark to bite and offered $100,000 for 25% equity. But Lori Greiner jump right in the pool and offered exactly what Tom and Mike were asking for – $100,000 for 20% of the business.
It took Tom and Mike less than 10 seconds to accept Cuban’s offer.
The Beer Blizzard is available in a pack of six for $12.99 or a 12 pack for $19.99.