Shark Tank Update
Shark Tank Pitch
Intelli-Stopper Technology Shark Tank Update
Published:
2m
Tucson, AZ
| Name | Intelli-Stopper Technology |
|---|---|
| Main Presenters | Chase Hoyt and Bob Hoyt |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 1/1/2018 |
| Main Location | Tucson, AZ Loading Map |
| Order Shown in Episode | 3 |
| Final Deal | All Sharks went Out |
Intelli-Stopper Technology Shark Tank Pitch
Chase Hoyt and Bob Hoyt are a father-and-son duo, who found wine preservers on the market unsatisfactory, so they created Intelli-Stopper Technology. Intelli-Stopper is a cork that displays a red indicator if the air is not properly vacuumed out of the bottle and extends the life of an opened bottle of wine from two days to two weeks.
Last year's sales were $150k, and this year they are on pace to sell $300k. Chase and Bob recently secured a deal to sell in Bed Bath and Beyond. They plan to expand into markets such as olive oil preservation, which is an issue the sharks and I have never heard of. They also plan to create a version for coffee.
Kevin is very into wine and owns every wine preservation system on the market. Kevin knows a competing system that sells well but is missing the indicator. Kevin doesn't want to buy in at the valuation asked for and decides to pass. The other sharks do not know much about wine. All sharks go out.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $250k for 10% of company | |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Out | Lori Greiner | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Kevin O'Leary | Out |
Mark Cuban
Out
Barbara Corcoran
Out
Kevin O'Leary
Out
Lori Greiner
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Intelli-Stopper Technology After Shark Tank
According to a 2014 article by insidetucsonbusiness.com https://www.insidetucsonbusiness.com/news/foothills-native-appears-on-hit-television-series-shark-tank/article_62134ec0-d6fb-11e3-a843-001a4bcf887a.html, Chase Hoyt and Bob Hoyt experienced a bottle of wine go bad firsthand and decided to create their solution, which became Intelli-Stopper Technology. Chase and Bob put $200k of their life savings into creating the product. They needed more money, and banks were unwilling to lend to them, so they sold their house.Link Preview
insidetucsonbusiness.com
Chase and Bob made progress on the invention and had an investor come in for $250k for 10%, which they later asked for on Shark Tank. We saw a wine preserver product in season 3 called Wine Balloon /seasons/3/episodes/4/wine-balloon, which got a deal that fell through after the fact. Even though the sharks didn't invest in Intelli-Stopper, Chase said they saw a decent boost in sales from the exposure.Link Preview
Wine Balloon
The wine product name that Intelli-Stopper Technology sold was Wine Doctor. The website savethewine.com went down in 2015. According to Chase Hoyt's LinkedIn https://www.linkedin.com/in/chasehoyt https://www.instagram.com/chasehoyt, he rebranded the company to Hoyt Products, which lasted from 2015 to 2018. Chase then founded a dating app, which he stuck with until 2020. As of 2023, Chase is a real estate agent, and he is active on his Instagram, @chasehoyt Link Preview
LinkedIn .Link Preview
@chasehoyt
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