It floats!
Two things. First, after the FIRST day (literally 5 hours) of being in the water, the screws are rusting so that doesn't bode well for the longevity and second, the Pup is advertised on the website as holding 10lbs of ice and 15 cans. That is just not even close to reality and I'd like to know how other people have found that claim.
The good: we dragged this behind a sailboat on the second day - calm water - and not what it was designed for but at "high" speed, it flipped UPSIDE DOWN dragging the lid underwater and it remained shut! It was only for like 30 or 45 seconds but still, no lost beverages or anything.
Overall, a great product. Just wish the capacity was more accurate and the screws were higher quality.