This article is about Phoozy Net Worth and Other Information. Phoozy is a phone case designed to protect your device from extreme temperatures.
It is constructed using a special material that provides insulation against both heat and cold. With Phoozy, you can confidently use your phone in any weather condition.
Introduction – Phoozy Phone case
Outside, there are many risks for your phone, but Phoozy’s phone cases can help. It protects against threats such as warming up in the sun, submerging in water, breaking from a fall, and more.
Josh Inglis and Kevin Conway, the company’s founders, sold a contract after pitching it to Lori Greiner and Robert Herjavec on Shark Tank.
The Founders of Phoozy
PHOOZY Thermal Capsules was founded by Josh Inglis and Kevin Conway. For ten months, Kevin participated in Prestige Performances and NASCAR.
He said since 2012, he has served as a founding member and co-founder of “Change Nutrition, Inc.” Kevin founded Exclaim Racing, LLC in 2004, a management company for the racing industry.
Since 2013, Kevin has worked as a Professional Instructor at Automobili Lamborghini S.p.A. He is an expert in marketing. He attended UNC-Charlotte to study marketing.
Josh Inglis, who has worked for The Home Depot for more than ten years, is currently a marketing specialist. He received both an MBA and a Bachelor of Finance from Emory University.
Establishing The Phoozy Company
Kevin was annoyed that his phone would shut off in the heat. He thought of using space suit technology to shield his gadget. He talked to Josh about the concept, and the two of them worked to create Phoozy.
In addition to protecting against extreme temperatures, these cases also make phones float in water and reduce breakage from falls.
For the startup’s 2016 launch, the founders put $85,000 of their own money upfront. Since then, direct-to-consumer sales of Phoozy have generated profits of $1.9 million.
Phoozy Net Worth and Other Information
|Founder||Josh Inglis and Kevin Conway|
|Headquarters Location||Charlotte, North Carolina, US|
|Asked for||$500,000 for 10% equity|
|Final Deal||$500 000 for 8% + Royalty|
|Product||The ultimate Thermal, Drop, and Float protection for phones, tablets, laptops, and accessories|
|Shark||Lori Greiner & Robert Herjavec|
|Air Date||April 2, 2021|
|Episode||Season 12 Episode 19|
|Business Status||In Business|
|Phoozy Net Worth||$6 million|
Phoozy As A Public Figure – Social Media Influencer
|Social Media Site||Linked Destination|
|Phoozy Website||Click Here|
|Phoozy Facebook||Click Here|
|Phoozy Instagram||Click Here|
|Phoozy Twitter||Click Here|
|Phoozy YouTube||Click Here|
|Phoozy Linkedin||Click Here|
Phoozy Before Shark Tank
In season 12, Josh and Kevin made an appearance on Shark Tank and asked for $500,000 for a 10% equity investment. The professionalism and absence of over the top behaviour in their pitch stood out.
Daymond John impressed the Sharks with his demonstration of Phoozy’s applications through simulations. The Sharks were interested in the lifetime sales figures for Josh and Kevin.
The Sharks were particularly thrilled by their $4.5 million in forecasted sales and 25% net profit for 2020. Their use of bootstrapping and profit margins also won the Sharks over.
The negotiation was started and the agreement framework was established by Kevin O’Leary. Robert and Lori jumped in right away and changed the numbers.
They eventually established a partnership and allocated $500,000 for an 8% equity investment. A $1.50 royalty per unit was also agreed upon until the initial investment was recovered.
Phoozy After Shark Tank Update
Following their Shark Tank participation, Phoozy experienced a spike in new orders. Their sales allegedly surged by 400%, as reported by SharkTankRecap.com. This popularity was aided by syndication and the show’s large audience of 4 million live viewers per episode.
The agreement with Robert and Lori is still being worked out. Their websites do not feature Phoozy as a Shark Tank investment. One theory holds that once the cameras stopped rolling, the $1.50 royalty per unit was no longer acceptable.
Despite this setback, Phoozy increased the variety of products it offered by adding can coolers and a carrying bag for computer accessories. They sell their goods on Phoozy.com, Amazon, Best Buy, and Walmart.
On Amazon, the majority of Phoozy’s products have gotten average reviews of over 4 stars. Their high sales performance is indicated by the fact that the majority of their reviews are favorable.
Phoozy Net Worth
As of 2023, Phoozy net worth is estimated at $6 million. The company’s strong growth trajectory indicates that its net worth is likely to increase in the future.
Phoozy Still In Business
New competitors joining the market present a challenge for the company. To succeed and make money, they must have a distinctive product and marketing plan. To outperform their competition, they are also competing in a variety of categories.
The business’ Instagram account hasn’t been able to amass a sizable following despite their best efforts. It has about +7,657 followers right now.
The staff at Phoozy ranges in size from 11 to 50 people. Charlotte, North Carolina serves as the location of the business’s main office.
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Interesting Facts about Phoozy:
- The business has been extending its product portfolio and growing quickly.
- Phoozy unveiled brand-new items in 2020, including the Phoozy Apollo Capsule and Thermonuclear Charger.
- A battery cover called the Thermonuclear Charger extends the life of a phone’s battery by up to three times. It also provides defense against extremely high temperatures.
- For cameras and other compact electrical devices, the Apollo Capsule is a waterproof and floatable casing.
- Phoozy has earned over $850,000 in sales since its Shark Tank appearance, and they are now available in retailers all over the country.
- Together, Lori and Robert offered a $500,000 joint investment in exchange for a split stock interest.
- The investment proposal made by Lori and Robert was accepted by Kevin and Josh.
FAQ – Phoozy Net Worth
How much is Phoozy net worth?
Phoozy net worth is approximately $6 million in 2023.
Who founded Phoozy?
The Phoozy founders are Josh Inglis and Kevin Conway.
Is the Phoozy case waterproof?
Yes, Indeed, the Phoozy case is both water-resistant and dust-proof. You can confidently use your phone in rainy or snowy conditions without worrying about damage to your device.
Is Phoozy still in business?
Indeed, Phoozy is still operational. The business is still operating its website and selling its goods both online and in physical stores as of October 2023.