Cool Wazoo on Shark Tank
Cool Wazoo aired on 11/02/2012 - Episode 410 - Update
O.K. all you mommy's out there, Listen Up. The Cool Wazoo inventor Ginelle Mill's is going to help you in ways you have never even thought of. If you have ever had kids, then you know it can get a little messy at times, if ya know what I mean. The Cool Wazoo instantly transforms into a comfortable diaper changing pad to make those unexpected changes quick and we'll, even convenient if there is such a thing.
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Cool Wazoo" also has a total of 5 different functions making it a "Must Have" in all diaper bags
The main function of the Cool Wazoo is of course the convenient diaper changing pad that folds down to a fraction of it's actual size. When not changing those stinky diapers (yes, I remember:) it can also be used as a restaurant highchair cover, a swing set cover, car seat cover and even a shopping cart cover to keep them nice and snugly with added padding.
. The Cool Wazoo uses a hook and loop fasteners to keep it in place just where you need it. You basically can tailor make it to fit just about anything you might be putting your younger child inside of at this critical age. When you have a little accident that gets a little messy, and you know you will, you can just throw your Cool Wazoo into the washing machine and it will come out as good as new.
Choose the right style just for you. Cool Wazoo has five distinctive modern styles to choose from. The "Springtime in Paris", "Buzzing Barcelona", "Styling San Francisco" and the popular "Central Park".
RECAP After The Shark Tank Show:
Ginelle Mill's was seeking $65k for a 25% equity in her company. Kevin jumps all over her almost right away because he grew up just fine without a Wazoo. Mill's explains that she was aired on the Today Show but she had no inventory to sell. She took orders online and when she received the order, 85% of them were made incorrect. The manufacture did NOT refund any money for the mistakes. Mill's then gets a shot at showing the Cool Wazoo on the t.v. show "The Doctors". The producer's wanted to give everyone in the audience a "Free Wazoo" which ate up all 250 units of her inventory and again she was left with nothing to sell from this national exposure. Kevin O'Leary told her "you got cool wa-screwed".
She tells the Sharks that it costs her $30 to make a Cool Wazoo and then she tells them to "hold your breathe" I sell them for $32.50 netting her $2.50 for each unit. OUCH! That's not exactly something you tell the Sharks when looking for an investor. Mill's then explains she has spent the last year working closely on not only the cost, but the quality. By moving the production over-seas she can now get them made for $11 each which significantly raises the net income. The Mill's have already invested $96k of their own money in this venture.
Ginelle is very passionate about this product as she explains she has never had even 1 Cool Wazoo ever returned. Robert is the first to go out when Mills gets a rather unusual look on her face. Kevin O'Leary goes out next and now you can tell she is starting to get disappointed that the Sharks just don't understand how important this is. Mark Cuban was the last to go out explaining to her it's not the product but the time and learning curve that must be learned to take The Cool Wazoo to the next level.
Now this is where the show gets interesting and really proves that if you believe in something and refuse to quit no matter how bad it may seem at the time, your perseverance and sure determination can and WILL MOVE MOUNTAINS.
If my memory serves me right, whenever a contestant in front of the Sharks that have all gone out, they turn around and walk away. Not Ginelle Mill's. She came here to get a deal with the Sharks and refused to accept NO for an answer. A little emotional? YES it was. But if that's what she had to do to get a deal and continue to pursue her dream, then that's what she was going to do.
Mill's started her presentation again as if She just walked in and completely blocked out the fact that all the Sharks were already out. Lori Greiner realises she is looking at a very motivated person that is going to make the Cool Wazoo a National Hit no matter what. She comes back in and offers to give Mill's exactly what she was looking for, $65k for 25% of the business.
If you ever read this Lori, I hope this deal turns out to be one of the Very Best Deals you ever make on The Shark Tank.