Define Bottle is the creation of Carter Kostler and is designed to infuse fruit into your water. Will he get a deal with the Shark Tank investors? Define Bottle is a way to hydrate healthy with great taste. Carter is fifteen years old and created the Define Bottle at age thirteen.
In four months, Define Bottle has $65,000 in sales in four months. They sell on the website and in retail stores. He cold-called Whole Foods and DAVIDsTEA making deals getting in the shops. They sold $1,000 in bottles in 3 hours at the Whole Foods Farmers Market.
Define Bottle Numbers in Shark Tank
Define Bottle Retails at $30, and the cost is $10. They have a manufacturer in China who claims they will get their price down to $5.
Competition is in Brookstone and other places, but you can't see the fruit. They are a lot less expensive, and they do work well according to Lori. They have $300,000 in investment. His parents have taken a mortgage out on their house.
Season: 5 Episode 520
First Run: 03/14/14
Shark: Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, Robert Herjavec
Company: Define Bottle
Entrepreneurs: Carter Kostler
From: Virginia Beach, Virgina
Ask: $100k for 20% equity
What the Shark Tank Investors say about Define Bottle.
Barbara Corcoran thinks he spent way too much on development and she would not get her money back. She is out.
Kevin O'Leary thinks there is way too much competition and for that reason, he's out.
Lori Greiner is out because of the competition.
Robert Herjavec thinks he has a great design, but the retailer did not reorder. He tells him they need to do some research, but he will make him an offer for $100,000 for 40% equity.
They have $85,000 in tooling, $150,000 in inventory, and are projecting $200,000 sales this year. The Kostler's think the company is worth a bit more. Carter says, they are expecting $400,000 sales in the following year. Carter asks Robert to go 30%. Robert will not take his counter offer and goes out.
Mark Cuban thinks at fifteen years old, nobody will say no, but that said it is a “cool product.” Mark is trying to find a reason to say yes. His parents taking out a mortgage on their house, and he has not given enough background on the company, so he is out.
Define Bottle is selling on Amazon with two-day free shipping with Prime. The price is lower at just under $25 which makes this a better buy. I think I may try it out.