Local business Freaker USA does not make a catch on Shark Tank

Tags: , , ,

Submitted: Sat, 10/20/2012 - 3:16am
Updated: Mon, 10/22/2012 - 12:22am

WILMINGTON, NC (WWAY) — A Wilmington business owner tried to hit the jackpot on national TV Friday night, but it didn’t go as well as planned.

Zach Crain appeared on the ABC show “Shark Tank,” which puts entrepreneurs in front of a group of deep-pocketed potential investors, including billionaire Dallas Mavericks owner Mark Cuban. Crain is co-owner of Freaker USA, which makes bottle and can covers out of a sweater-like material that keeps your drink cold and your hands dry.

The “Shark Tank” investors liked the idea of Freaker USA, but not the investment Crain was looking for. At one point during the show, Crain had an offer for $200,000 for a 50-percent stake in Freaker USA. Crain didn’t like it, and the “sharks” didn’t like how high he valued his company. Eventually, they decided to keep their money and let Crain come back to Wilmington empty-handed.

“It was awesome to go on there,” Crain said Friday after the show aired. “I wasn’t too worried about getting a deal, (but) it would have been nice.”

Despite not getting an investor on “Shark Tank,” Crain said being on national TV was a nice ad for his product.

Leave a Reply

8 Comments on "Local business Freaker USA does not make a catch on Shark Tank"

2015 years 8 months ago

Total embarrassment to our community

Straight Shooter
2015 years 8 months ago

Freaker looks as though he would be a Brian Berger supporter……….

2015 years 8 months ago

Guys, it wasn’t that bad. He just over-valued his company, according to the sharks (and according to me, I might add.) His whole sound effects stuff is in line with the image he’s going for with his brand, so it’s not like it hurt him inordinately. They just didn’t like the valuation.

Good for Zack for pursuing something!

Guest 10101
2015 years 8 months ago

He overvalued his company’s worth and acted like a nut, complete with a full range of personal sound effects. How does he expect investors to take him seriously when he doesn’t do that himself? Totally self-destructive behavior. Damn shame.

2015 years 8 months ago

I own many freakers. Just ordered two more today, when I stumbled upon this article. It does actually fit cans, bottle, 3 liters, water bottles, gatorade bottles, and everything else. They only cost $10 a piece, not $20. It’s a sweater like material. They started as sweaters but became something else. Whats super cool is they keep their design when strecthed to the max. For Christmas ’12, we gave them to everyone. We covered everything from whiskey bottles to brita bottles. It was a big hit. I don’t have a problem with water dripping from the bottom. The bottle is covered, nothing drips. This was a really lame attempt to ride someone else’s shirt tails. You have to make your’s in different sizes because they own the patent for the one size fits all. You should actually order one before you accept a challenage on TV. :-/ You may regret doing such thing. I’ve looked at your Boni Saks, not impressed. I doubt that the boni sak can cover a coke can then also cover a gatorade bottle.

For the people thinking this company disgraces your community, every stop to realize this is an American product, making jobs for people? If you think it’s a disgrace, I’m sorry for you and yours. But remember the next time you reach out to buy your China made products at Wal-Mart, that you are disgracing our country. By local. Eat local.

2015 years 8 months ago

I invented the Boni Sak in 2005 and have been contracted with AsSeenOnTV.com Website since December 2011. We did their Website Video February 2012. I have been giving my Boni Saks away to promote them and they are similar, but different in ways from Freakes. Boni Sak container covers (bottles, cans, etc) also stretch, but we have different sizes for different size bottles/cans/containers. Zach states one cover fits all, but the can covers are different size so how is it one size fits the smaller cans. My Boni Sak is also machine washable/tumble dry. If his is made of sweaters, does it not shrink? He states his is different from other koosies as others are bulky, but so is Freakers if you try to put in your pocket, Boni Sak is light weight, and also inexpensive which his Freakers cost much more. on website I saw $20.00? My Boni Sak is $3.00 and $1.00 extra to customize. My Boni Sak eliminates water condensation and water buildup. You have dry hands, dry furniture, dry car cup holder, etc., I can Freeze a bottle of water-then take out of Freezer and put into Boni Sak-leave sit all day with no water buildup inside. Will the Freaker do this and eliminate the water or does it buildup inside cover. Also does it have a bottom, if not, does the water drip out of bottom? It would be a Good Contest to compare the two of them and see which you and your followers like the Best! This would be a good segment “Freaker vs Boni Sak” for you to run on your news show as a challenge between the two. Actually a challenge between Zach and myself on air with our covers. Think how many viewers you would get with this type of contest! Call or email me if you are interested! Bonnie Rackcliffe 724-895-3492 bluebell5430@comcast.net (Home of the Steelers!!) :)

2015 years 8 months ago

“Shark Tank” is a pretty good show and I love watching it because of stupid people coming up with stupid ideas and this one by far takes the cake. I’d rather go clothes shopping at Walmart and get my oil changed there before I buy a sweater for my beer. A fool and his money will soon be parted….lmfao.

2015 years 8 months ago

Watched it last night. At least he admitted in his video presentation that he migrated to Wilmington from elsewhere. A great representative of the freaks that inhabit our downtown community. Too bad his quirky personality and style could not convince the panel that his idea is worth a dime.