Guzzle Buddy Update | Shark Tank Season 9
Randy Rothfus and Jennifer Sullivan were two entrepreneurs that wanted to bring their drinkware company, Guzzle Buddy, on
Shark Tank Guzzle Buddy Update
- Entrepreneurs: Randy Rothfus and Jennifer Sullivan
- Business: Drinkware / Glasses
- Ask: $400,000 for 10% equity
- Result: $400,000 for 25% equity
- Sharks: Daymond John
Jennifer and Randy told the sharks that Guzzle Buddy had only been on the market for about ten months and had already generated more than $1.4 million in gross sales. The sharks were wildly impressed with those sales numbers and wanted to hear more.
One of the most popular products of all time. The Guzzle Buddy transforms any beer bottle or wine glass into a drinkable bottle.
Guzzle Buddy had generated about $320,000 in net profits from lifetime sales to date. A single unit costs about $3 to manufacture and is currently sold at a price point of $24.99.
These margins were very impressive to the sharks, but some still had concerns about the implied valuation that Randy and Jennifer had placed on their company.
Mark Cuban was the first shark to drop out due to the valuation. Daymond John quickly dropped out as well because he believed that he could not provide value to the company.
All of the remaining sharks dropped out except for Lori Greiner. She wanted to give the entrepreneurs a chance to make a fair offer to her with an opportunity to make the valuation a little bit more realistic.
Randy and Jennifer told the sharks that they would be willing to do $400,000 for 20% equity. After already dropping out, Daymond responded and jumped in to say that he would do it for 25% equity. Jennifer and Randy quickly accepted.
Our Guzzle Buddy update is exciting because the company continues to generate about $2 million per year in gross revenue.
A new plastic version of the product is now available as the company continues to come up with new ideas for its product catalog.
The future seems bright for our next Guzzle Buddy update as they look for new ways to build on the momentum that they have already generated from being on
You can find the other company updates from Season 9 Episode 18 here:
Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!