Shark Tank Update
Shark Tank Pitch
Wine Balloon Shark Tank Update
Published:
2m
Mason, OH
| Name | Wine Balloon |
|---|---|
| Main Presenters | Eric Corti |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 9/1/2022 |
| Main Location | Mason, OH Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | Offer made from sharks |
Wine Balloon Shark Tank Pitch
Eric Corti finds himself and his wife throw a lot of rotten red wine down the sink because traditional wine preservation techniques are unsuccessful. Current methods on the market may involve methods such as using nitrogen gas that is hard for someone to know if it is working.
Wine Balloon is a patent-pending fool-proof way to know that air is not interacting with the wine. It is simple to understand and use.
Eric has put $65k of his own money in. In its first six months with no advertising, the Wine Balloon has done $15k in revenue.
Kevin is a wine connoisseur, believes in the Wine Balloon, and offers what Eric asked for with the contingency to license the product. Lori and Mark try and buy the company outright and lower their dollar amount from $600k to $400k, which Eric accepts with fear of it going lower.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $40k for 30% of Company | |
| Sharks | Offered | Kevin O'Leary | $40k for 30% of Company contingent on licensing deal |
| Sharks | Offered | Lori Greiner | $500k for 100% of Company |
| Sharks | Offered | Lori Greiner, Mark Cuban | $600k for 100% of Company |
| Company | Offered | Lori Greiner, Mark Cuban | $600k for 100% of Company and 3% royalty to Eric |
| Company | Offered | Lori Greiner, Mark Cuban | $600k for 100% of Company and 2% royalty to Eric |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Deal Never Closed | Lori Greiner, Mark Cuban | $400k for 100% of Company |
| Company | Offered | Daymond John, Lori Greiner | $500k for 100% of Company |
| Sharks | Out | Daymond John | Out |
| Company | Offered | Mark Cuban, Lori Greiner | $500k for 100% of Company |
Mark Cuban
Offered
Daymond John
Out
Kevin O'Leary
Offered
Lori Greiner
Offered
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Wine Balloon After Shark Tank
According to Shark Tank Blog https://www.sharktankblog.com/business/the-wine-balloon, the deal fell through after, however, Eric may have been the one to bail (usually, the sharks are the flakes). After filming the Shark Tank episode in the summer of 2011, in December of 2011, Eric appeared on Food Network's Kitchen Inventors, where he secured a licensing deal with Lifetime Brands and rebranded Wine Balloon to Air Cork.Link Preview
Shark Tank Blog
In 2021 Air Cork did around $7 million in revenue. It is possible that Eric is hands-off on Air Cork and collects royalties, but that is speculation. The business still runs out of Mason, Ohio, and says it is family-run.
In 2022 Air Cork is still a success and can be purchased on its website, aircork.com https://www.aircork.com.Link Preview
aircork.com
According to his LinkedIn https://www.linkedin.com/in/eric-corti-6658294, in 2022 Eric is the Principle / COO of Structure First, a real estate developer focusing on financial buildings out of Mason, Ohio.Link Preview
LinkedIn
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