2010 NASCAR Rookie of the Year Kevin Conway Clinched $500,000 on Shark Tank With $1.9 Million-Earning Tech Marvel Phoozy 3 Years Ago

Kevin Conway is widely known for his Rookie Of The Year feat in 2010. However, the masterful stock car driver soon transitioned from NASCAR and partnered up with Lamborghini, becoming the 2014 FIA Lamborghini Super Trofeo World Champion. 

But being outdoors for so long resulted in persisting problems with his iPhone. Frustrated from the never-ending dilemma, Conway, along with entrepreneur Josh Inglis came up with Phoozy, a recipe so good that it left the investors of Shark Tank drooling for a stake in the company. Inglis summed it up best: “The Sharks were negotiating each other down, and we were watching the action.”

Kevin Conway finds his mojo in the entrepreneurial world

After transitioning from NASCAR to the Lamborghini Super Trofeo Series, the 2010 ROTY winner pivoted his frustrating problem into a million-dollar business solution, generating a whopping $1.9 million within three years of commencement.

Kevin Conway and Josh Inglis’s vision was to make thermal capsules to shield mobile devices from the sun, extreme heat, and freezing cold, and also provide drop and float protection. With a firm belief in their product, Kevin and Josh went to the Shark Tank to seek funding. But it was not easy to find a draft. Despite being a fearless entity on the oval, Conway later expressed his fear, saying, “Driving a race car into a corner at 200 mph is much less nerve-wracking and anxiety-inducing than walking into the tank and pitching to the Sharks.” 

They pitched the investors for a 10% stake in their company in exchange for $500,000, making the company value at $5,000,000. However, Shark Kevin O’Leary showed a bit of skepticism and questioned, “There are many, many, many, many case companies. Are you telling me there isn’t one other that gives me heat, cold, [float] and drop protection? I’m having a real hard time believing that.”

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Brimming with confidence, Conway assured the Sharks about their monopoly and revealed, “We have an issued utility patent around our thermal technology and also the drop and float components of our product.” But when Conway unveiled the figures they had generated since its inception, the game of funding took a drastic turn.

Conway’s claim which sent the billionaires into a frenzy

From the very beginning, it was Kevin and Josh who were pushing their product, but things took a U-turn when Conway revealed that Phoozy had generated a whopping $1.9 million in the first three years through direct-to-consumer sales. 

Hearing this, Mark Cuban couldn’t help himself and exclaimed, “Daaaaaamn! You guys are my heroes!” Now, the duo was enjoying the rift between the Sharks to see who could grab the opportunity. The moment was so surreal that Conway exclaimed, “When the Sharks started competing against each other to invest in us, my heart was pounding.”

Finally, Phoozy joined hands with Lori Greiner and Robert Herjavec for a $500,000 investment for an 8% stake in the company along with a $1.50 per unit royalty until the investment is paid back. Observing the timeline from 2010 to 2023, Kevin Conway has come a long way. Finding instant success in NASCAR, winning the 2014 FIA Lamborghini Super Trofeo Series, and sealing a massive deal with the Sharks has taken him to higher verticals in life.