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Bee D’Vine Shark Tank Update

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Bee D’Vine was introduced as a special class of wine that is made up of 60% or more fermented honey added with water and yeast. The traditional name of this beverage is “Mead” which is being produced and consumed for thousands of years since 5,000 BC when bears are drunken in a muddy honey puddle.

Today, Honey Wine is made from a mixture of fermented honey, water, and yeast along with various fruits, spices, and herbs. The process of making this wine is the same as the process of making normal wine. This drink can taste both sweet and savory.

Honey Wine retains all the healthy benefits of normal natural honey in it. This product is a healthy form of alcoholic beverage and is also gluten-free.

Honey Wine at a glance

SeasonSeason-12, Episode-05
Business IdeaWine made from Honey
FoundersAycle Solomon
Asked For$750,000 for 20% of Equity.
Accepted Deal$750,000 for 40% of Equity.
SharksMark Cuban, Lori Greiner, Robert Herjavec and Daniel Lubetzky
Business IdeaIn Business.
WebsiteHoney Wine

Index:

Founder Story:

Honey Wine is developed and founded by a young entrepreneur named, “Aycle Solomon” from Ethiopia. He wanted to introduce a completely new variety of wine into the market, which a fusion of authentic traditional tastes in it. A “Mead” is the oldest and also the finest variety of wine which is an all-time favorite wine of the people of  Ethiopia consumed and loved by them.

Aycle planned to rebrand this particular variety of wine and introduce it into the market. He also discusses his plans with some expert wine spectators and planned to serve his product in various high-end and top-class restaurants. He looked forward to creating a completely new variety of wines made from honey. The honey is harvested only from some selected regions of the world to make this special wine.

Did Bee D’Vine Get a Deal on Shark Tank?

Founder Aycle Solomon introduced his product on ABC’s famous TV reality show Shark Tank in Episode-05 of Season-12. He introduced his product as a special class of wine made from a special type of fermented honey with some health benefits and also with medicinal properties and characteristics in it. The honey also tastes really great and the drink made by the founder is also non-GMO and gluten-free. He gave the sample of his wine to sharks to taste and asked them for their investment in his venture. He demanded a capital investment of $750,000 in consideration of a 20% share of equity in his business.

Sharks really liked the taste of wine and the idea of Aycle, making a wine with a fusion of traditional and modern styles. Sharks asked Aycle about the net worth of his business and he answered an estimate of $1.88 million. He also told them the cost of making the wine is $5.93 and the selling price is $39.95. These figures seemed quite unsatisfactory to the sharks.

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However, Mark Cuban, Lori Greiner, Robert Herjavec, and Daniel Lubetzky showed some interest and offered him $750,000 in exchange for a 40% share of the equity of his company each getting 10%. Solomon firstly hesitated but after a moment he accepted the offer from all four Sharks.

What Happened to Honey Wine after Shark Tank?

After appearing on the Shark Tank, Honey Wine experienced a massive hike in its sales due to the Shark Tank effect as the founder was able to generate huge sales as five out of ten wine offerings were then sold out. However, the deal with Mark, Lori, and Denial is never been settled but the company is still in business and offers some of its premium products for pre-orders, and its major offerings pre-ordered are sold out.

They also admire Sharks’ suggestions to offer something for a cheaper price that leads to massive customer interactions. Therefore, they started offering a $ 39-priced pack along with a $ 49-priced pack of their wine.

Competitors of Honey Wine

Honey Wine is one it’s kind of unique products which is available in the market as it is a combination of wine along with some healthy ingredients in it that are good for health, but they are quite a common wine market. Therefore, it cannot avoid competitors. Some of its competitors are:

  • Etowah Meadery,
  • BeeCraft Mead Company,
  • Humble Bee Wines,
  • Rosewood Estates Winery,
  • Wild Blossom Meadery, etc.

Net Worth of Honey Wine

Honey Wine is valued at $1.8 Million during its Shark Tank appearance after that it experienced an approximately 5 times hike in its valuation. However, its exact revenue and valuation are not available anywhere.

Is Honey Wine Still in Business?

Yes, Honey Wine is still in business and performing very well in its area as the founder Aycle Solomon has managed to distribute his products in every part of the Nation and they are also available on its own official and other E-Commerce websites.

Honey Wine Social links:

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FAQs:

What is Bee D’Vine?

Bee D’Vine was introduced as a special class of wine that is made up of 60% or more fermented honey added with water and yeast. The traditional name of this beverage is “Mead” which is being produced and consumed for thousands of years since 5,000 BC when bears are drunken in a muddy honey puddle.

Who founded Bee D’Vine?

Honey Wine is developed and founded by a young entrepreneur named, “Aycle Solomon” from Ethiopia. He wanted to introduce a completely new variety of wine into the market, which a fusion of authentic traditional tastes in it.

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