Shark Tank Wondry Update 2024

Wondry appeared on Shark Tank during Season 14, seeking an investment of $185,000 for 8% equity. The sharks were interested in learning more about their cocktail wines, so they let the couple present their business idea and talk about the financial history of their business. Not to worry though, we still plan on giving you the full Wondry update as soon as we recap these important facts.

Shark Tank Wondry Update

Entrepreneurs: Chaz Gates and Whitney Gates
Business: Cocktail Wines
Ask: $185,000 for 8% equity
Result: $225,000 for 15% equity
Sharks: Mark Cuban

With a variety of different cocktail wines already developed and selling on the market, the sharks wanted to hear about financial details relating to Wondry’s business.

Kevin O’Leary considers himself an expert in wine, but he wanted to know what price point Wondry was selling their beverages at. They responded by telling him that they are currently selling wine at $18.99 through retail and direct-to-consumer methods.

A single bottle costs just under $4 per bottle, while retail stores buy the bottles from Wondry at just under $14 per bottle. These margins were reasonable, but not exceptional.

The sharks were fairly pleased with what they were hearing, especially since the business had only been operating for just under twelve months. The company expects to net a profit of $60,000 on more than $250,000 in sales from the past year. That puts the company’s net profit margin at approximately 25% overall.

Mark Cuban decided to make an offer of $225,000 in exchange for 15% equity. Chaz and Whitney Gates quickly accepted his offer and became his partner. Now that we know about the preliminary deal between Mark Cuban and Wondry, let’s jump ahead to look to the future.

Our Wondry update is still fresh, but we do know for sure that the company has received a major boost in sales since appearing on the show. Further, the deal with Mark Cuban will certainly benefit the company as it grows.

The company’s high-quality cocktail wines are continuously being sold on its website. We can’t wait to share our next Wondry update.

For more updates on companies from Shark Tank Season 14 Episode 6, be sure to check the links below:

Additionally, don’t forget to check out our Season 14 products page too!

Jeremy Davis

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Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!