The Shark Tank Investors love wine, and Blendtique Wine Company is pitching their uniquely personal blendable wine.
Kevin O'Leary and Barbara Corcoran demo Blendtique Wine Company Kit
Billy Dim asks Kevin O'Leary and Barbara Corcoran to come up and taste each wine. Barbara is into this pitch. She says she is falling in love with Kevin as she drinks.
Kevin O'Leary is creating an Ameritage wine that is all his own.
Meanwhile, Barbara is hammering her newly created blend. The other Sharks do a taste test, and Mark, Robert, and Lori unknowingly pick Barbara Corcoran's wine over Kevin O'Leary's.
The Blendtique wine company has an online kit that runs $99.95. In two years of sales, they have done a little over $200,000. They make about $35 on each sale.
Billy says that the significant application is in the hotel and hospitality industry doing classrooms which is different from what he came in pitching.
Company: Blendtique Wine Company
Entrepreneur: Billy Dim
Website
Ask: $250k for 10% equity
From:
Companies in this episode: The Sleep Styler, Rareform, MealEnders
Season: Season 8 Episode 819
Sharks: Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 04/08/2016
Deal: Lori Greiner loan for $250,000 at 8% plus 10% equity.
What do the Shark Tank Investors say about Blendtique Wine Company
Mark Cuban thinks that Billy is taking Blendtique Wine company in a whole different direction and did not pitch the classrooms at first He is out.
Barbara Corcoran wants to know what she pays for a case of wine once she develops her case. She pays $300. That is for twelve bottles. She wants to know what percentage of people order wine at parties in the home. The conversion rate is 15% which is not enough. She is out.
Kevin O'Leary tells Billy that 97% of wine sells for under $13 a bottle. He does not believe that he will sell wine for over $14 a bottle. Kevin is out.
Lori Greiner loves it as a gift and a product that people can have fun. Lori offers him $250,000 for 30% equity. He counters at 15% equity, but the lowest she will go is 25%. Billy will have to dilute his shares and asks Lori to go to 20%. Lori offers a loan for 8% interest, and she gets 10% equity. He takes the deal!
Robert Herjavec thought he was selling fun, but there are many directions, and it is not a business that Robert understands or enjoys, so he is out.
Blendtique Wine Company after Shark Tank
Blendtique is now on Celebrity Cruises. Lori Greiner does not have Blendtique Wine Company as one of her Shark Tank products on her website, leading me to believe that they did not complete the deal after Shark Tank.
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