For the first time in the show’s history an inventor was given a second chance on Shark Tank. James Martin is founder and CEO of Copa Di Vino, which bottles premium wine directly into a glass. During his first appearance on Shark Tank, James turned down Kevin O’Leary’s offer of $600,000 for 51% of the company.
James stuck to his guns to pursue his dream of expanding his brand of wine instead of licensing the patented packaging to the big players in the industry. In doing so, James went from $500,000 in sales to $5,000,000 in a year. He went back on the show to seek $300,000 for 6% equity in the company to keep up with the orders by expanding his packaging facility.
Copa Di Vino has the look and feel of glass, but is made of 100% recyclable plastic. This makes it perfect for all occasions. It allows you to enjoy a glass of fresh wine without having to open an entire bottle.
Drama, confusion and deals ensued as James stood before Robert, Barbara, Kevin, Daymond and Mark. Barbara even told James, “I didn’t like you the first time. I still don’t like you this time.” Kevin made an offer as Mark asked James to step out of the room.
James walked into the hallway and called Samuel Adams founder, Jim Koch. Jim said, “I think they’re not appreciating you have a proven technology, proven product and there is a market. When I started Sam Adams everybody thought it was a dumb idea and no one would invest. I only got low ball offers.”
Mark convinced Kevin and Robert to team up with him on a deal that would give them 30% of the company for $600,000. Upon hearing the deal, James stood before the Sharks for too long as he opened one of his glasses of wine and drank from it. This action caused Mark to blurt out that he was out of the deal. Robert said he was out and actually got up to walk out. Once again, James did not make a deal but it led to a very dramatic ending to the episode.
It is becoming apparent that anyone who appears on Shark Tank whether they make a deal or not, can become extremely successful just from the TV exposure. If you or anyone you know is interested in assistance and guidance trying to get on Shark Tank, please contact us at New Product Consulting.