Wine Balloon | Shark Tank Season 3

Entrepreneur Eric Corti pitched his wine accessory company during Shark Tank Season 3. Wine Balloon is a product to preserve an open bottle of wine, by using a balloon to seal the wine from too much air. He created this device for wine lovers alike, so they can stop pouring their unused wine down the drain. Will the sharks want to invest? Find out in our Wine Balloon update.

If you’re short on time, here’s a quick overview of what happened to Wine Balloon after Shark Tank!

Eric Corti appeared on Shark Tank Season 3, and made a deal with Mark Cuban and Lori Greiner, for $400,000 and 100% of the company. In terms of a Wine Balloon update, the company is still in business, however, Eric backed out of the deal before signing on the dotted line. The company has since rebranded to Air Cork.

Shark: Result:
Mark Cuban & Lori Greiner  Accepted deal for $400,000 for 100% equity
Kevin O’Leary  $400,000 for 30% of what would be made in perpetuity
Daymond John No offer
Robert Herjavec  No offer

Shark Tank Wine Balloon Update

Wine Balloon update

  • Entrepreneur: Eric Corti
  • Business: Wine preserver
  • Ask: $40,000 for 30% equity
  • Result: $400,000 for 100% equity
  • Shark: Mark Cuban, Lori Greiner

Eric walked into the tank, and introduced the sharks to his innovative product, the Wine Balloon. He talked about his experience with wasting wine, due to opening it and not being able to finish the bottle.

Air Cork Wine Preserver (with spare balloon) - as seen on Shark Tank
  • Air Cork Wine Preserver - includes Air Cork device, storage pouch, instructions and 2 Spare Balloons (3 balloons with the product).


We earn a commission if you make a purchase, at no additional cost to you.

He then showed the sharks how the Wine Balloon worked by creating an effective seal on the inside of the bottle that could quickly be deflated. Lori Greiner asked whether Eric had a patent on it, and Eric said it was pending.

Kevin O’Leary asked what the balloon was made from, and whether it affected the taste of the wine. Eric told him that it was made from medical-grade latex, that wouldn’t affect the natural flavors of the wine.

Additionally, Kevin talked about other options for preserving wine, and Eric talked about how the visual effect of the balloon added to the appeal. 

Mark Cuban asked how much Eric had invested, and Eric said he’d put $65,000 of his own money into it, and had a soft release without marketing of 700 units to some retailers.

Further, each unit retailed for $22, and cost just $6.50 to make. Kevin said he wanted to take the product to the biggest company selling another wine preservation system, and ask for a royalty.

He added that this was the better product, but he had no interest in distributing it. Kevin offered $40,000 for 30% of what would be made in perpetuity.

Lori said she didn’t agree with the licensing plan, and that the best idea would be to go direct to the consumer. She offered to buy Eric out: $500,000 for 100% stake.

Mark jumped in to alter Lori’s offer by partnering up with her to offer $600,000 for 100% stake. Ultimately, Mark wanted an answer immediately, but Eric countered by asking for a 3% royalty in addition to the offer.

Lori asked Mark if he’d consider a 2% royalty, but Mark refused and went out.

Lori eventually asked Robert if he wanted to partner up with her. She kept her $500,000 for 100% on the table, with no royalty, however, Robert went out.

Finally, Mark jumped back in with Lori for an offer of $400,000 for 100%. Eric asked Daymond John if he would consider partnering with Lori for $500,000 but Daymond went out.

All the sharks grouped up to insist that Eric take the offer of $400,000. Nonetheless, Eric accepted Mark and Lori’s offer of $400,000 for 100% equity.

What do you think happened following Shark Tank? Keep reading our Wine Balloon update to find out how everything panned out.

Our Wine Balloon update shows that Eric ultimately backed out of the deal, before signing with Lori and Mark. He retained control of his company, and his success soared.

After appearing on another similar show, Eric rebranded the business as Air Cork and got distribution. The company is still operating, and making around $7 million in annual revenue.

You can find the product on the Air Cork website. The product is also available on Amazon.

If we learn anything further about the company, we will certainly let you know. However, in the meantime, you can check out the other companies featured on Season 3 Episode 4, by clicking on the links below.

For even more on companies and products, be sure to stop by our Season 3 Products Page before you go!

 

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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!