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Shark Tank Goverre Update
- Entrepreneur: Regan Kelaher and Shannon Zappala
- Business: Modern and portable wine glasses
- Ask: $200,000 for 13% equity
- Result: $200,000 for 33.3% equity
- Shark: Mark Cuban, Lori Greiner, and Robert Herjavec
Regan Kelaher and Shannon Zappala entered the
- FLUTE SET OF TWO: Two Signature GOVERRE Champagne Glasses, 1 each of CORAL...
- MADE OF GLASS: Skip the metal and plastic! Our beautiful thick white glass...
At the time of their presentation, Regan and Shannon had done $384,000 in sales and netted $134,000 in profits before they took a salary.
Overall, Regan and Shannon did an excellent job explaining their product, its value proposition, and why it’s worth investing. The shark’s interest was also reflective of that. Daymond John was the only one to go out but it was only because the wine industry wasn’t his space.
After he went out, the four sharks that were left went into a bidding war. Kevin O’Leary was the first to make an offer of $200,000 for 33.3% equity, which the two initially tried to counter with 15%. After this, Robert Herjavec offered to go in on a deal with Mark Cuban and Lori Greiner for the same offer as Kevin made. Although the pair of entrepreneurs tried to counter at 25%, the sharks wouldn’t budge. They ultimately shook hands at $200,000 for 33.3%.
As for our Goverre update, you’d be glad to know that it is still in business. In fact, in 2019, Goverre introduced a new version of their wine glass that was thinner and lighter with a silicone sleeve with varietal-specific graphics. Goverre is now being sold in dozens of stores all across the United States and even in Canada.
Check out our other updates from Season 8 Episode 22 here:
Before you go, don’t forget to stop by our Season 8 products page for more Season 8 company updates.