Joulies Net Worth: After Shark Tank, What Happened to Coffee Joulies?

joulies net worth

Coffee Joulies are tiny, stainless-steel capsules containing a phase-change material that are inserted in a cup of coffee to chill overheated coffee and then gently release the heat to keep the coffee warm. Dave Petrillo and Dave Jackson, mechanical engineers from Pennington, New Jersey, created the firm.

They prototyped in their basement, then began refining and manufacturing them in rented space at Sherrill Manufacturing in Sherrill, New York, a former Oneida silverware factory that had changed its business model to hosting startups and small businesses in 2010, after Oneida had moved most of its manufacturing overseas in 2004 but had left a small amount of business with the factory under contract. Sherrill assisted the startup with production expenses, and the company secured funds on Kickstarter in 2011. Rather than relocating manufacturing to Mexico, the crew elected to stay in the United States.

In 2009, the Fraunhofer Institute for Building Physics developed a similar concept employing phase change materials embedded into the walls and bottom of a cup.

Some assessments reveal Joulies to be effective, while others cast doubt on its efficiency. They concluded after conducting testing that the product did not operate properly, if at all. The advertised impact, while there, is “barely apparent,” especially when compared to adding other objects with comparable heat capacity, falling short of the makers’ claims that the drink “would be ready to drink three times faster and will stay hot twice as long.”

The creators appeared on Shark Tank in 2013 and raised $150,000.

What Exactly Are Coffee Joulies?

Coffee Joulies – your coffee, just right by Dave & Dave — Kickstarter

The small beads known as Coffee Joulies are made from a phase-change polymer. They may be poured into coffee or sandwiched between the walls of your Joulies coffee cup.

This phase-shifting capsule is designed to vary the flavor of a cup of coffee. Because hot coffee loses heat as you drink it, serving it at a reasonable temperature keeps it from cooling too soon.

As a result, the coffee keeps at the perfect drinking temperature for a long time. Coffee beans have the ability to both absorb and reflect heat.

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Because the Joulies absorb heat quickly, coffee may be served at a drinking temperature (140 degrees).

Once the Joulies reach 140 degrees, the temperature is maintained for several hours.

Coffee Joulies is the company name.

Dave Petrillo and entrepreneur Dave Jackson


A heat-absorbing stainless steel bean that keeps coffee at the correct temperature.

For a 5% stake in Coffee Joulies, an investment of $150,000 is being sought.

$150,000 in total For a $6 per unit royalty till $150,000 is paid Shark

Robert Herjavec, Kevin O’Leary, Lori Greiner, Daymond John, and Kevin O’Leary

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Who Is The Coffee Joulies Founder?

 Joulies Net Worth

Dave Pentrillo and Dave Jackson collaborated on the Coffee Joulies. After graduating from college with a mechanical engineering degree, Dave Pentrillo began his work with Lutron Electronics in 1993.

In 2011, he was named President of Coffee Joulies, a position he still holds today. While organizing Coffee Joulies, he also worked as an engineer.

Dave Jackson studied mechanical engineering at the same time as Petrillo. He is a co-owner of Coffee Joulies and works as a mechanical engineer.

The first batch of Joulies was designed and made by the Daves. They launched Kickstarter a year later and raised $306,944 in less than two months.

Because of Kickstarter’s huge success, they were inducted into the Kickstarter Hall of Fame, which brought much-needed attention and improved brand recognition.

Furthermore, Kickstarter gave the Daves the funding they needed to launch commercial manufacturing of Julies.

The firm received a boost later that year when they were named the winner of the Shopify Build-a-Business competition.

Joulies of Coffee Before Shark Tank

joulies net worth

Dave Petrillo and Dave Jackson, mechanical engineers from New Jersey, devised the Coffee Joulies.

The Joulies were little stainless-steel capsules containing an ingenious material that swiftly cooled a hot beverage to a drinkable temperature.

This would allow the capsules to maintain the temperature of the liquid for an extended length of time.

In March 2011, they gathered funding through a Kickstarter campaign. Their goal was $9,500, which they achieved in just three days.

At the end of the month-long campaign, they received a big boost from Kickstarter. More than $300,000 was raised from 4,800 backers to help them realize their vision.

Because of their early success and strong financial support, they were able to complete their production process and turn their vision into a finished product.

How Did Coffee Joulies’ Shark Tank Pitch Go?

joulies net worth

Shark Tank episode 413 included a pitch from Coffee Joulies, which was hosted by Dave Jackson and Dave Petrillo. They’re asking for a $150,000 investment in return for a 5% ownership in the firm.

Because they are comprised of a unique substance, the Coffee Joulies will melt and then solidify when cooked to a high degree, redistributing the heat to the beverage.

When displaying the apparatus to Sharks, the pair claimed it can maintain coffee at 140 degrees for up to five hours.

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The Sharks Coffee Is Still Hot and Fresh Three Hours Later.

A box of five Joulies costs $50, and each one costs $3.60 to create. Last year, the firm produced a profit of $50,000 on $575,001 in revenue, resulting in a positive cash flow.

The firm has inked deals with Bed Bath & Beyond and OfficeMax, allowing it to forecast sales of over one million in the coming year.

Daymond According to John, the remaining Sharks are “ready to conduct some pretty intrusive surgery” on the pair in relation to the 5%. He’s already gone.