Almost 50,000 backers of the Coolest Cooler are trusting a guy whose history of inventions consist of:
Shot-a-pult - a jello shot catapult that never went to market which taught him the importance of liability insurance
Acqua Bol - a folding credit card sized water bowl for your dog
Travelite - a handheld portable luggage scale that landed him in a patent infringement lawsuit
A grill he welded together, a digging tool he made for his niece and a kitchen table he built.
It is great and exciting to see such excitement around the funding of a Kickstarter project - the questions strategically being glossed over are the very ones that need to be asked.
Given that Ryan Grepper already has a history with patent infringement issues, did he do as he advises and conduct his research?
I wonder if the guys at Liddup (as seen on Shark Tank) have any thoughts on this project considering they hold the patent on a cooler with LED lighting?
Maybe the guy who submitted the patent application for the mountable bottle opener will realize the value of his invention?
The venture capitalist with a similar product might have some valid concerns with this project?
While definitely not as cool looking, Igloo has an over 60yr history and a similar product via the Cool Fusion that offers pretty much everything except the blender.
So while this may be the coolest cooler, it is concerning the Ryan avoids questions about anything other than colours, upgrades and add-on’s.
This tactic has proven over and over to be standard operating procedure when marketer’s realize the goldrush era for crowdfunding.
Once the money is transacted Kickstarter is out of the picture. This project is set to deliver 6 months after ending; backer dispute rights end 60 days after the bank makes your statement with this transaction on it available.
It would be wise to take the time to ask the hard questions now; this is the time to ask the tough interview questions.
$10 million is a lot of money to blindly handover.