Boxed wine is convenient, affordable and popular, but it also leaves much to be desired. For this reason, Brad Schultz, Amy Steadman and Justin Fencehel set out to make boxed wine way more fun. Will the sharks sip their way to a deal on
- Entrepreneurs: Brad Schultz, Aimy Steadman, and Justin Fenchel
- Business: Boxed wine beverages
- Ask: $200,000 for 10% equity
- Result: $1,000,000 for 33% equity
- Sharks: Mark Cuban
Brad, Aimy and Justin entered the tank by explaining how bottled wine can be great but it’s also boring. Their beat box shaped boxed wine had a fun and vibrant look to it, and drank more like a spirit than a wine. BeatBox Beverages allowed the user to create mixed drinks and get creative. They passed out samples and everyone but Kevin O’Leary loved the drinks.
They explained how they would self-distribute their boxed wine, rather than partnering with a larger distributor. Eventually they found a co-packer and boosted their own revenues to more than $235,000 in the twelve months prior to filming, and were projecting $120,000 in sales during that quarter.
Barbara Corcoran decided to make an offer of $400,000 in exchange for 20% equity. This offer would keep the company’s imputed valuation of $2 million while offering them more money for a little bit more equity. Despite Kevin’s complaint about the taste, he believed that he would bring a lot more value to the table because he already had a wine business. For that reason, Kevin offered them $200,000 for 20% equity.
Mark Cuban decided to offer a lot more money in exchange for 33% equity. He tripled the amount of money that the entrepreneurs were asking for by offering $600,000 dollars. Justin countered Mark, asking for $1 million in exchange for the 33% and Mark accepted. Now that this business made a deal with Mark, what became of them? Keep reading our BeatBox Beverages update to find out!
You’ll be happy to hear that the company is still in business! Research for our BeatBox Beverages update revealed that marketing was very successful after appearing on
You can find the other company updates from Season 6 Episode 6 by following the links below.
For even more on companies and products, stop by our Season 6 Products Page!