Chill N Reel Net Worth 2022 – Shark Tank Update

What Is Chill N Reel?

Chill-N-Reel is the ideal piece of equipment for the multi-tasking fishing aficionado.

A simple drink insulator has a hand-line fishing reel on its side, allowing users to cast a line and enjoy a refreshing drink at the same time.

Learning to use the Chill-N-Reel is a breeze at any age and it works surprisingly well for such an affordable gadget.

What Is Chill N Reel Net Worth?

Company Name

Chill-N-Reel

Owners

Jake Rutledge, Chase Terrell, and Chris Diede

Shark

Equity

10%

Investment

$300,000

Location

Sand Springs, Oklahoma

Net worth

Who Is the Owner of Chill N Reel?

Jacob Rutledge, a Tulsa firefighter, first imagined the Chill-N-Reel in 2017 while on vacation in Destin, Florida.

An initial prototype entailed converting his koozie into a fishing device by twirling a fishing line around its base and hand-casting it.

This worked so well that Jake decided to put all his energy and resources into turning this fun device into a family business. He soon enlisted the help of his son, Chase Terrell in charge of customer service and sales as well as his brother-in-law Chris Diede who focuses on marketing, commercialization, and e-commerce.

Why Is Chill N Reel So Popular?

With more than 600 reviews and a 98% five-star rating on its website, Chill-N-Reel is incredibly popular with novice and veteran fishing enthusiasts alike because it’s fun and it really does work.

Chill-N-Reel is patented and the hard-shell drink holder with a fishing reel comes with a hook, a sinker, and a 50-foot handline that can handle catches of up to 8lb. All a user requires is a bait and a drink.

Shark Tank Appearance  – Did It Go Through?

Robert Herjavec is the only Shark who took the Chill-N-Reel bait on the 23rd episode of Season 13.

He first offered Jake, Chase, and Chris $300,000 for 10% equity and a perpetual $2 royalty on each Chill-N-Reel sold. When they declined, Robert followed with an offer of $300,000 for 30%, which the Chill-N-Reel team also walked away from, despite being in the negative because of their initial advertising costs.

Where Is Chill N Reel Today?

While the Sharks didn’t bite, Chill-N-Reel’s appearance on Shark Tank was a successful fishing expedition.

In Jake’s words, it was “an opportunity to introduce Chill-N-Reel to America on national television!” In the hours and days after the episode was broadcast, hundreds of orders came pouring in from all over the United States.

In June 2022, Jake and his team took Chill-N-Reel to the final round of Walmart’s open call event to have their product on the giant retailer’s shelves.

Conclusion

If you’re curious about the Chill-N-Reel’s ability to keep you entertained and hydrated, it may be time to try the simple instructions for yourself.

First, you rig the Chill-N-Reel, then you load it. Next, you pitch it but don’t forget to grab your slack and tip it back as needed. You’ll be reeling ‘em cold in no time.