Founded by Richard Tam, his brother Wilson Tam, and friend David Chen, they opened 10Below Ice Cream in July 2015 in Chinatown, Manhattan, after David showed Richard a Thai-style rolled ice cream video—sparking the idea to launch it stateside as a fun and Instagrammable dessert experience.
Their signature: a cold plate chilled to below −10 °F where a liquid crème anglaise is mixed, chopped, frozen, and rolled fresh in front of customers. Flavors like “Monkey Business” (banana‑Nutella) and “I Love You a Latte” made waves.
Between 2015 and 2018, they expanded to three New York locations—Chinatown, East Village, and Flushing—and held 53 catered events, reaching $3.45 million in sales by early 2019.
In late 2018 they ran a crowdfunding campaigns, raising about $81K to support plans to franchise the concept as kiosks or mall locations, projecting revenue from each at $250K annually and aiming for six new franchises per year.
Failed. What Happened?
A federal lawsuit was filed in December 2017, but continued into 2025, where Five Below Inc. alleged consumer confusion over the name similarity to its own “Ten Below” brand. The legal action continues as of April 2025.