Obvious Wines Update | Shark Tank Season 10

Making the long journey from France to Shark Tank Season 10, Brice Baillie was hoping to secure a deal for $150,000 in exchange for 5% equity in his wine company. Offering the sharks only 5% equity is something that they aren’t going to like, but let’s see if Brice is able to secure a deal before we shift our focus and take a look at the Obvious Wines update.

Shark Tank Obvious Wines Update

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 Shark Tank and is capable of selling a single bottle of wine for about $16. The company has sold about 9,000 bottles of wine wholesale, which equates to about $100,000 in gross revenue sales.

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 Shark Tank Season 10.