Making the long journey from France to
Shark Tank Obvious Wines Update
- Entrepreneurs: Brice Baillie
- Business: Wine Production
- Ask: $150,000 for 5% equity
- Result: $160,000 for 12.5% equity
- Sharks: Lori Greiner
The company launched about seven months before Brice came onto
After passing out samples and briefly negotiating, Brice would already see one shark drop out of negotiations. Daymond John would drop out first and it wouldn’t take long for Kevin O’Leary to drop out as well, due to a conflict with his own wine brand. Mark Cuban also decided to drop out.
Lori Greiner decided that she was interested and made an initial offer of $150,000 for 12.5% equity. Brice didn’t immediately seem too happy about this offer but after some negotiations and counteroffers, they ultimately agreed on a deal of $160,000 for 12.5%.
Now let’s see what our Obvious Wines update reveals about Brice and his company today. The company never finalized the deal with Lori because Brice was able to secure investment at a higher valuation than what Lori had offered. In addition, the company is continuing to seek crowdfunding revenue and marketing assistance for its wine brand.
Obvious Wines continues to update its website and it appears that Brice has his company moving in the right direction. While it’s a shame that the deal was never finalized, it appears that it may have been the right move in the end. We will have to wait and find out in our next Obvious Wines update.
You can find the other company updates from Season 10 Episode 12 here:
Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from
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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!