Market Overview

Ryan Grepper's 'Coolest' Cooler

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According to Kicktraq.com, $13,283,275 of Ryan Grepper's original $50,000 crowd funding goal has come in up to the end date of August 29.

Why has this donator-driven project attracted so much attention?

It's possibly the world's “Coolest” cooler.

“We tried to bring this to market last November and the Kickstarter failed. It didn't reach my goal, and so what I did was look back to see what I could do differently; I reconnected with my backers; I approved the prototype; and we relaunched in the summer; and I couldn't be more excited,” said Grepper on CNBC's Squawk Alley recently.

In addition to having a USB connection and waterproof speakers, the Coolest serves as a blender. Currently, the average backer has pledged $212 each to get there hands on one, Kicktraq.com shows. In total, Grepper's goal hit 26,000.56% of what he wanted to make.

“It's a cooler, but it's really a party in a box. It's everything you need to make those memories, that you're already out there, all the more fun,” said Grepper.

Running on a removable and rechargeable 18-volt battery, the Coolest even has an LED light on the inside, cup storage, and a divider that doubles as a cutting board. The blender gets 60 “blends” per charge, or “six gallons of blended drink” said Grepper.

Every component will be waterproofed at a range of 60 to 80 pounds per square inch.

“There's never been an easier time to be an inventor or a person with an idea. The crowdfunding platform gives you a way to connect with your potential costumers to see if there really is a value, and see if people understand and really resonate with that idea,” said Grepper.

“And then there's also never been a better time to connect with sourcing experts and manufacturing experts…If your product does have legs, they can help you take it to market.”

Roughly 62,657 coolers will be going out to backers that have pre-ordered in time for next summer, taking about $100 of the projected retail price of the Coolest by the time it hits stores.

Jason Cunningham had no position with the mentioned entities while writing this article. Visit Jason on Twitter at @JasonCunningham and @Benzinga.

Posted-In: CNBC CNBC's Squawk Alley Coolest Cooler Kickstarter Ryan GrepperCNBC Media

 

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