Who is Chad Lee?
Chad Lee is president and co-founder of FOAM Coolers, a Bentonville, Arkansas, company that makes lightweight coolers from EVA foam, the same material used in Crocs. Before FOAM, Lee spent years in sales and product development roles connected to major retailers including Walmart, Target and Costco, experience that shaped the company's retail-first strategy. He and co-founder David Kittle saw a gap for an affordable, lightweight cooler that is easy to clean, durable and floats in water. The founders put about $150,000 of their own money into the business and secured placement in 97 Target stores before appearing on Shark Tank.
In Season 16 they reported $114,000 in 2024 sales plus another $137,000 in commitments and asked for $150,000 for 10%. Daymond John offered $150,000 for 30%, and after failing to negotiate him down, they accepted. Since the show, FOAM has partnered with Koozie Group to grow its retail presence, launched a second-generation cooler in eight colors, added accessories, and expanded in Target stores in Florida, Arizona and California. It also sells on Amazon and its own website.
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