It can be hard to properly preserve opened bottles of wine. That’s why Chase Hoyt and his dad Bob Hoyt created a wine stopper to solve this problem. Will they earn a deal on
Shark Tank Intelli-Stopper Update
- Entrepreneurs: Chase Hoyt, Bob Hoyt
- Business: Food and beverage preservation
- Ask: $250,000 in exchange for 10% equity
- Result: No deal
- Sharks: None
Chase and Bob brought their wine bottle stopper called Wine Doctor to the tank. Their company Intelli-Stopper, created the product to preserve open bottles of wine for up to two weeks, rather than the usual 3 day max.
In the year prior to filming, the company had $150,000 in sales, and in the then-current year, they were on pace to double that. Sensing the sharks weren’t excited about the Wine Doctor, Chase quickly moved on to other products from the brand; the Olive Doctor and the Coffee Doctor.
Barbara Corcoran said the products were not unique. Mark Cuban said he didn’t know enough about the industry. Lori Greiner said there were already too many similar items on the market. Robert Herjavec wasn’t interested. Kevin O’Leary had a problem with the company’s high valuation and the low equity offer. All of the sharks were out.
With no offers from the sharks, Chase and Bob were forced to leave without a deal. What happened next? Keep reading our Intelli-Stopper update to find out!
Now that we know how the pitch went, let’s get an update. In an interview following the show, Chase said the company had a huge spike in sales, and were even contacted by a potential investor. Despite this, the company is no longer in business in 2023. This will be our final Intelli-Stopper update!
Would you like to learn about the other companies featured on Season 5 Episode 25? Follow the links below or our other company updates from the episode.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!