Where Did CoolWraps Gift Wrap End Up After Shark Tank?

We all know someone (maybe it's you – no judgements) who isn't the greatest at wrapping gifts, handing out presents with rogue flaps, tons of extra tape, and paper patches over at least one "oops" spot where they misjudged the paper size. In fact, even many of those who take pride in their excellent wrapping skills still have trouble with oddly-shaped packaging, soft goods, or anything with a shape more complicated than a standard box. This struggle is exactly the problem that Jeffery Miller aimed to fix with his invention CoolWraps, a shrink wrap alternative to traditional gift wrap, designed to make wrapping even the most unconventionally-shaped presents a breeze.

Inspired by a trip to the boatyard where Miller saw ships covered in shrink wrap, the CoolWraps premise is as easy as 1-2-3, according to the company's marketing: stuff it, seal it, and shrink it. First, place the present into the shrink wrap gift bag then seal it with the provided adhesive strip, no tape, scissors, or mess required. Lastly, use a hairdryer to shrink the bag to conform to the shape of the gift for a perfectly wrapped present, especially those searching for an easier way to wrap than with traditional paper.

After years of trying to build the business, Miller brought CoolWraps to Season 4 of the popular show "Shark Tank," where he pitched the premise to investor sharks Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, and Robert Herjavec. Miller walked into the tank seeking $100,000 for a 40% equity in his company, giving the CoolWraps a $250,000 valuation, in the hopes of re-launching his beloved invention into the market with the help of an expert partner. While his pitch ultimately resulted in multiple offers, the CoolWraps journey that followed was hardly a success story tied up in a neat little bow.

During the "Shark Tank" pitch, one of the original founders, Jeffrey Miller, explained that the product had been on the market about ten years prior to his tank visit, having success on QVC, CVS, and more. However, when the time came to secure financing that would allow Miller and his partners to fulfill larger purchase orders, the partners were not willing to put their homes up as collateral, so the bank turned them down, leaving them all out of luck. Miller's partners then bailed on the business venture, taking him from 20% shareholder to 100% business owner. Despite a lack of success trying to promote and sell the product at trade shows (without a booth or visual demonstration of how the product actually worked) in the decade before the show's air date, Miller was hoping to revive and relaunch CoolWraps with the expert guidance of a shark on board.

When pitched to the sharks, Robert Herjavec was the first to bow out, citing concerns about the market, Miller's ability as a salesman, and the fact that the product sat for a decade without much success. However, investor Lori Greiner offered Miller $150,000 to buy him out entirely, stating that the product had potential and she liked that it had an exclusive utility patent but thought it needed some major changes to make the product marketable. Before Miller could answer, however, Mark Cuban jumped in with an offer for the full $250,000 valuation to own the whole company but give Miller a 3% royalty on each unit sold. The catch was that he needed to say yes immediately, which he did, leaving the room a quarter million dollars richer (in theory).

When a company is featured on the show, the products often experience what's referred to as the "Shark Tank effect," with the airing of the episode drumming up a spike in website traffic, social media chatter, and, ideally, sales. Indeed, there were upwards of a million hits on the CoolWraps website when the episode originally aired on March 8, 2013. However, when fans visited the site, the product was unfortunately not yet available for purchase online, meaning the surge of interest came and went without the ability to capitalize on the boost in popularity generated by the show.

In fact, though the initial deal with shark Mark Cuban was televised on the episode, the reality was that the acquisition failed to make it past the due diligence phase  after the cameras stopped rolling. Therefore, Miller did not end up gaining the billionaire's expertise to get the product back on the market, which unfortunately meant that, aside from a few extra fans, CoolWraps was left in nearly the same financial and business position as before the Shark Tank appearance. The failure to finalize the deal with Cuban proved to be the second-to-last nail in the coffin for CoolWraps, so to speak.

Despite having no shark in his corner, Jeffery Miller was able to get the product back on the market in early 2015, even sharing on social media in May that CoolWraps was nominated as one of the best new products at the New York National Stationery Show. However, its availability was brief, and once the product sold out, it was never restocked again. The website's domain remained active with the message "we are currently working on a new website to bring you new shrink wrap gift bags" until 2022, when the site and domain came down for good. As of 2025, social media accounts have been silent since the short-lived resurgence a decade ago. 

Despite a solid idea and protective utility patent that could have helped Miller boost it to popularity with the help of investor Mark Cuban had the deal gone through, CoolWraps did not turn out to be one of Shark Tank's success stories. Instead, CoolWraps is out of business, and Miller has sold the company, though the details of the sale are unclear. However, the patent is still active until July 2034, so who knows – perhaps the new owner might try and create another resurgence after a second decade-or-two-long period of dormancy.

While CoolWraps is no longer, according to his personal LinkedIn account and website, in 2025, Jeffery Miller is continuing to create new creative work as freelance visual designer under his own company, Jeffrey Miller Design. His current contract gig is as a Senior 3D Experiential and Store Designer for a Fortune 500 company in Attleboro, Massachusetts, where he creates large format retail store designs using digital design software like AutoCAD, Revit, Sketchup, Twinmotion, and Adobe Suite. His freelance work has also included accomplishments such as designing a new outdoor theatrical and entertainment pavilion for the city of Attleboro, as well as visual merchandising for IKEA.

Prior to going entirely freelance, Miller worked as a 3D Environmental and Experiential Designer for Cramer, a brand experience and content marketing agency, and Freeman Expositions, creating custom-branded live events, for about one year a piece. However, the majority of his career prior to, during, and after his Shark Tank experience was spent as the Global Design Project Manager and 3D Designer of Displays and Stores for over 11 years for the superstar of sound, Bose Corporation, which he left in 2019.

According to Miller, he is the visionary that helps people see that which does not yet exist, so while CoolWraps might be a wrap, the inventor and designer has no plans to stop creating any time soon.