Despite raising millions with technological promises, this refrigerator left thousands of investors without the promised product.
The scams related to innovative products are always present on the market. On many occasions, Investments of millions of dollars end in great disappointments for investors, who fall victim to misleading advertising campaigns. An example of this theme is the smart portable refrigeratorwhich although it managed to make millions, turned out to be a trap for those who bet on it.
This invention, which was initially presented as a technological revolution, promised advanced functionality and modern designwhich attracted the attention of many investors. However, after raising millions, the project collapsed and left most of its buyers without the promised product.
Coolest Cooler.webp
How the portable refrigerator that made millions in the market worked
The history of the Coolest Cooler started on the platform Kickstarter crowdfundingwhere she presented herself as an innovator portable refrigerator with technological features never seen before. The company behind the project, founded by Ryan Grepper, managed to attract a massive number of investors, far exceeding the initial funding goal. But what at first seemed to be a guaranteed success, ended up being a bitter disappointment.
Based in USAGrepper’s company promised a refrigerator with Bluetooth speakers, a USB charger, a rechargeable blender and even a cutting board. This product, which was sold as the ideal complement to any outdoor adventure, raised more than 13 million dollars, becoming the most successful Kickstarter campaign at the time.
The model promised to be revolutionary: in addition to its innovative features, it had an attractive design and wheels for easy transportation. But problems began to appear with the high production costs and the complexity of integrating all functions on a portable device. This led to manufacturing delays and eventually a complete halt to production.
In a desperate attempt to recover some of the money invested, the company decided to sell the remaining units in amazon at a much higher price than initially offered on Kickstarter. As if all this were not enough, the owners of the product asked investors who had not received their refrigerator an additional payment of $97 if they wanted to obtain it.
Five years after the launch of the project, the company announced its definitive closure. Grepper, in an email to his investors, cited the tariffs imposed on China as one of the reasons that hindered the viability of the project. In addition, it offered investors a symbolic refund of 20 dollars, an offer that outraged many, considering that they had invested up to 200 dollars.
The Coolest Cooler case left an important lesson: what seems to be a great investment does not always end up being a good idea. The more than 30,000 investors who were left without their refrigerator reflect how crowdfunding campaigns, although innovative, can also be risky when there is no adequate planning behind them.
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
