Ice Beanie, which was on Shark Tank Season 12 Episode 13, is a company that makes cold therapy hats for people with headaches. Nic Lamb, who started Ice Beanie, asked Shark for $50,000 in return for 20% of his business. Migraines affect 10 per cent of the world’s population.
Most people with migraines are between 20 and 50 years old. Nic Lamb, a professional surfer and business owner, devised a simple but clever way to keep his head cool when he had painful migraine headaches. Read about the pitch for Ice Beanie on Shark Tank and the current net worth of the enterprise.
What exactly is an Ice Beanie?
The Ice Beanie is a cold compression cap that can help with migraines, headaches, fevers, and stress without medicine. It also claims to help people heal from concussions, chemotherapy, traumatic brain injuries (TBI), inflammation, and sports injuries.
The cold compression cap is a soft polyester microfiber and goes around the head. It has gel packs that cover acupressure points on the head and keep the wearer’s head cool. It has a flexible Velcro belt to fit heads of different sizes.
Founder of Ice Beanie
Nic Lamb, an entrepreneur, created the idea for Ice Beanie. Nic Lamb has been surfing since he was five years old, and since he was nine, he has joined different competitions. In 2016, he had an injury to his head. after which he got a headache.
He puts an ice pack on his back to help it heal from the shock and migration. All the things that happen to him give him the idea for Ice Beanie.
How do you use the Ice Beanie?
To use it, just put it in the freezer for an hour, and then you can put it on to feel cool. It will shape itself to the head as it warms up from the wearer’s body heat. The cap can be washed, worn again, and carried with you.
Ice Beanie Net Worth Before Shark Tank
Ice Beanie’s net worth before Shark Tank was $250,000, as pr reports of PinoyMoneyTalk.
Shark Tank Update of Ice Beanie
Nic Lamb, the founder of Ice Beanie, pitched the idea on the show “Shark Tank.” He rode a skateboard barefoot like he was riding a wave on a surfboard, full of great energy.
Lamb asked the Sharks, “Who’s ready to get cool and invest in Ice Beanie?” He was looking for a $50,000 investment in exchange for 20% of the company.
He told Mark Cuban, Daymond John, Robert Herjavec, Lori Greiner, and Kevin O’Leary about his past. He even showed a video of himself falling off the big wave that gave him a headache.
Lamb said that in the United States alone, more than 40 million people have headaches and migraines that are so bad that they make them sick.
Each Ice Beanie costs $7 to make, and they sell them for $39.95 on their website and on Etsy and Amazon, which are online marketplaces.Mark Cuban made the first offer to buy Ice Beanie.
Then, in an unexpected turn, Robert Herjavec and Daymond John wanted to make their offers, but the founder of Ice Beanie had already agreed to Cuban’s.
Lamb asked Cuban if he would be willing to reduce the stock he wanted from 30% to 25%. Cuban didn’t have any doubts. Nic Lamb, who started Ice Beanie, chose to close the deal with Shark Mark Cuban, who is worth a billion dollars.
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What is Ice Beanie worth right now?
CrazyMoneyStats says that Ice Beanie’s net worth in 2024 is estimated to be $5 million
| IceBeanie’s Net worth before appearing on Shark Tank | 250,000 USD (business valuation) |
| IceBeanie’s Current Net worth (2024) | $5 Million USD |
Final Thoughts
After Shark Tank, Nic’s pitch on Shark Tank went well, he made a deal with Mark Cuban. They finished the deal in late 2021.
IceBeanie is now worth $200,000 and has been doing very well in business, with a total of $550,000 in Ice Beanie sales over the past year. Geena Davis, an actor, and Brooke Ence, a social media star, bought them.
Even though it hasn’t been confirmed yet, it seems likely that Nic is working with Mark to grow the Ice Beanie market to reach more people, like chemotherapy patients.
As of 2023, you can buy the product on Amazon, Etsy, and the company’s website, icebeanie.com. One Ice Beanie costs $39.95, two beanies cost $71.91, and four beanies cost $127.84.
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