Wine Balloon Net Worth: Approximately how much money is the wine balloon worth? Find out what’s going on now by reading this. If you want to keep your opened bottle of wine tasting great, you need the Wine Balloon, often known as The Air Cork. You put a flat balloon inside the bottle and press a bunch of grapes to get air in it. A little air bubble is created by inflating the balloon until it sits on the bottle’s rim.
The wine aficionado can deflate the balloon and return to drinking directly from the bottle by simply turning the valve on the device. Its production cost is mere $6.50, compared to its retail price of $22. The balloon’s construction from medical-grade latex keeps the wine tasting great for up to four days after opening.
How Much is Wine Balloon Net Worth?
Wine Balloon Net Worth: The Wine Balloon, more commonly known as The Air Cork, is a device used to prolong the life of wine in an opened bottle. Financial documents forecast that the wine bottle manufacturer will be worth about $7 million in 2022.
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What Happened to Wine Baloon After Shark Tank?
Wine Balloon Net Worth: In episode 304 of “Shark Tank,” inventor Eric Corti pitches his Wine Baloon to the show’s panel of investors, or “The Sharks,” in the hopes that they will invest in his business and try out his product. Want $40,000 in exchange for 30% of a company making air corks? To Lori Greiner, it made more sense to buy the company outright, a patent application for wine balloons and all.
To add Eric Corti to the list of “sharks,” she makes him an offer to buy out the company for $500,000. Want Lori Greiner, MarkCuban sees the potential in the wine cork industry and would like to invest. Eric has decided to invest an additional $100,000 in his wine cork business, bringing the total to $600,000.
Eric Corti, who seems almost willing to comply, continues to demand a 2% fee on any future income made by Lori and Marks. Mark Cuban rejoins the negotiations after the other Sharks have left, but this time he’s just offering $400,000 (down $200,000 from earlier) and no royalties. Eric Corti broke his word and promoted the Wine Balloon (or Air Cork) on his own. Must Read About Kirstie Alley Net Worth
How Much Is Wine Baloon’s Investment During The Shark Tank?
Wine Balloon Net Worth: Eric Corti went on an episode of “Shark Tank” to get $40,000 in exchange for 30% ownership in his company. After pitching his idea to the Sharks, he wasted no time getting to work on his sales pitch. He says that many people would like to have a glass of wine with dinner, but they don’t because they don’t want to squander the rest of the bottle.
Both he and his wife freely acknowledge to having thrown away significantly more wine than they have consumed. He attributes this to the widespread incompetence of wine preservationists. His Wine Balloon is ideal for celebrations of this kind. If you use his approach to store wine, even after opening the bottle, you won’t have to worry about it going bad before it’s finished.
Eric stuffs the balloon into the open bottle of wine and inflates it by pressing the grape bunch on the other end during the demonstration. When the balloon is full, it will touch the sides of the bottle. When he turns the wine bottle over down, not a drop spills. This proves that no more than a little bubble of air is mixing with the wine.
Lori Greiner quickly inquires as to whether or not Eric holds a patent for the item in question. He has already applied for a patent on it and is now waiting for it to be accepted. Robert Herjavec, on the other hand, wants to learn more about this product. Kevin O’Leary is curious about the material the balloon is made of as Herjavec gives it a try. The Wine Balloon is constructed from latex that is safe for human consumption, so it won’t affect the taste of your wine. Additionally, it can extend the wine’s shelf life by another 3–4 days after opening.
As a construction project manager, Eric is constantly thinking about new ways to improve the industry. He writes down most of his ideas in a notebook. He has invested approximately $65,000 into this product, his single commercial success. Six months ago, they were making no sales, but now they had sold 700 units for $22 each. Since the overall production cost is only $6.50, O’Leary argues that he could create them in bulk for $2.00 apiece. Check This Andrew Luck Net Worth
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