Whenever we talk about fast food, Pizza is number one on the majority of people’s list. They have undergone a variety of innovations with pineapples being the most debated one. However, we have not specified any drink that will perfectly fit with a pizza party.
Kevin Klein and Joshua Green, the owners of Pie Wine, have introduced the perfect match with pizza. They have introduced a sweet and sparkling wine that goes well with a pizza. The drink is an alternative to the Italian Lambrusco which is a red wine served with a pizza.
The owners came on Shark Tank to request $200K in exchange for 7.5% in her company. They also brought their drinks on the set to have a refreshing moment with the sharks. Let’s explore their journey on the show.
Pie Wine Net Worth Shark Tank Update
Kevin and Joshua were looking for an investment of $200K in exchange for 7.5% equity in their company, Pie Wine. At the time of the episode, they valued their company at around $2.67 million. Unfortunately, they did not secure a deal with any of the sharks. After the show aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Pie Wine in 2024 is around $1.5 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
Out
N\A
N\A
Mark Cuban
Out
N\A
N\A
John Daymond
Out
N\A
N\A
Lori Greiner
Out
N\A
N\A
Candace Nelson
Out
N\A
N\A
The Owner’s Backstory
Kevin basically hosts a morning radio show in Los Angeles. Joshua on the other hand has a degree in law and he is now helping to run one of the largest gaming companies. Kevin even sold his house to invest in the business. The two friends had been working on the Pie Wine for the last two years and had invested a lot in it to make it a big business.
Joshua and Kevin have known each other since they were eight years old. Joshua related that he wants his friend to be successful in the business.
Initial Pitch
The friends came on the show to seek $200K in exchange for 7.5% equity. The drinks come in three different flavors which include the sweet za, crisp dry, and the world-famous red.
Queries about the Product
Daymond asked the first question about their sales. Kevin highlighted that they launched the product only two weeks ago. Joshua added that they are already distributing in eight states across the US and have distributor commitment for $300K to $400K. They are now in contact with 18 states. Thus, they are looking forward to making $1.5M in six months.
Candace inquired about their investments in the company. Joshua replied that they have invested $300K so far in the business.
Candace was also interested in their margins. He replied that it costs them $1.50 to make and they are planning to lower it to $1.25. They are expecting to sell the drink at $3.25 with the distributions at more productions.
She also asked about their biggest competitors as they already have sparkling wine in the market. Joshua pointed out that Bev is the biggest one and it just got sold as well at $7M.
Shark’s Response and Final Decision
Kevin was the first shark out of the deal as he was already launching a sparkling line himself.
Cuban highlighted that although he loves the drink and its packaging, he is already in a $100M valuation beverage business, thus he can’t invest in their company.
Daymond also backed out of the deal as there was already big competition in the same line of business.
Finally, Lori and Cadance also dropped the deal as their company is still naïve to work with and they are not fit for the industry.
Product’s Availability
Pie Wine was not successful in getting any deal on the Shark Tank but they are still available on their website. However, shipping might take a little longer, as the drinks are currently available for pre-order.
They offer three flavors—Red, Sweet Za, and Crisp White. You can get a 4-pack for $20 or a 12-pack for $60. And for the true PIE Wine lovers, there’s also some fun merchandise available!
Conclusion
The Pie Wine made a drink to make pizza time more memorable and enjoyable for pizza lovers. Their entrance at Shark Tank however was not successful as they were not able to get any shark on their side. But their drinks are still available online in three different flavors.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
