Shrink Wrap Gift Bags – Who Invented Them?

Shrink wrap gift bags are just like wrapping paper, except they shrink to snugly package presents. They can be used for all kinds of gifts, including those with odd shapes. These gifts are then placed inside the bag, where it is enclosed with a built-in adhesive strip. This eliminates the need for tape and scissors, so you can easily seal your gift in place.

The Cool Wraps brand of shrink wrap gift bags was invented by Jeffrey Miller. He appeared on Shark Tank season 4 episode 20 and offered to invest $100,000 for 40% equity in the company. But, after the episode, the deal was never finalized. Some sources have suggested that Mark Cuban bought the company for $250,000. Other sources say that Miller accepted $250,000 for 100% plus 3% royalty. While it is unclear exactly what happened, it appears that the deal was not finalized, and the company has since ceased operations.

When Cool Wraps first came out on the market, it was not easy to find. It wasn’t available on most social selling platforms, and customers were frustrated. In addition, it wasn’t easy to order. One customer told us that it was virtually impossible to buy a Cool Wrap online.

As Cool Wraps began to make sales, however, it became clear that the product had a great potential. It was especially useful for people who didn’t know how to wrap presents. Despite the fact that Cool Wraps wasn’t widely available, its website had a strong presence, attracting hundreds of customers who were searching for an easier way to wrap their presents.

Miller initially had 20% ownership of the business. This was followed by his appearance on Shark Tank season 4 episode 20, where he presented the product. After the show, he asked Robert Herjavec and Mark Cuban for $100,000. However, his request for a 40% stake in the company did not materialize. His former partner, who had been trying to help him come up with a solution to gift-wrapping, decided to create his own product: the Cool Wrap.

Since the Shark Tank episode, Miller has not yet presented Cool Wraps to a retailer, and his company’s website has not changed a lot. He also does not list the price of his products. A phone number is also listed, but only when customers call to inquire about the price of the Cool Wraps.

On Shark Tank, Miller struggled with his presentation. He did not demonstrate the product in action, and he didn’t have a good answer when Robert Herjavec asked about pre-wrapped gifts. Nevertheless, he was determined to give his product a chance to reach the public.

Despite the fact that Cool Wraps was rejected by Mark Cuban and Robert Herjavec, it’s clear that it had a lot of potential. The company has a utility patent, which means that it is protected. It also offers users an easy-to-use way to seal their gifts, eliminating the mess and hassle that comes with using traditional gift wrapping methods.