Bee D’vine is a Sustainable-produced, barrel-aged honey wine brand from Sonoma Valley that appeared in Shark Tank Season 12 Episode 5. Bee D’vine founder, Ayele Solomon, asked Shark for $750,000 for 20% equity in his company.
After this ask in Shark Tank, this company is valued at $3.7 million which is a very high valuation. The Bee D’vine company got the deal in Shark Tank at a valuation of $1.8 million, this valuation is during the appearance of the Shark Tank show.
There are many people who start their day with wine. Wine is so popular that one definitely likes to drink it at any time.
Its popularity is known from the fact that in 2020, the global valuation of this market has been estimated at USD 417.85 billion.
From Old Age to Young Age people, everyone likes to drink it. According to the report of fortunebusinessinsights, more than 50% of the wine market is in European countries. Globally, 204.94 billion is generated from the country of Europe itself through the wine business.
Italy, Spain, France, Chile, and Australia come on the list of the world’s largest wine export countries.
Talking about the same import countries, then it comes to the United Kingdom, Germany, Russia, the United States, and China.
Red wine is very popular in this category of wine It is also very good for health, it works to solve problems like cholesterol, blood sugar, cancer, etc.
Honey wine is also very popular on this wine list, there are people from many countries who like to drink wine, same Ethiopia is the world’s largest honey wine-drinking country.
Honey wine, which is also called mead, is made by alcoholic beverages and honey and water are mixed in it as well as some ingredients are added like fruits, spices, grains, or hops.
By using this technique and this method, it is made to Bee D’vine.
What Is Bee D’vine?
Bee D’vine is a honey wine company founded in 2009 based in Sonoma, California, United States. The founder says that this wine is not mead, it is pure honey wine.
Solomon has invented this product, it is a native of Ethiopia, Ethiopia is the world’s largest wine-drinking country.
This being a wine, it contains two types of ingredients raw local honey and spring water.
When these two-ingredient is mixed, it is kept in a barrel for 15 months, after which it is kept in the bottle for two years.
After this process is completed, it is finally called “a layered bouquet of almond, honeysuckle, and jasmine.” becomes.
There are many people who do not recognize the difference between Mead and Bee D’vine. Mead consists of various fruits, herbs, spices, grains, and hops, while wine only uses honey and spring water.
This honey wine is an all-in-one alternative to eco-friendly, smooth, natural ingredients, dry and sweet non-bitters.
Each honey wine glass contains at least 150 calories, in which the alcohol content is 11.5% – 12.5%. This honey wine starts at $10 and goes up to $349, with different variants.
|Company Name||Bee D’vine|
|Product||sustainably produced, barrel-aged honey wine from Sonoma Valley|
|Asked For||$750,000 for 20% Equity|
|Final Deal||$750,000 for 40% Equity|
|Shark||Mark Cuban, Lori Greiner, Robert Herjavec, Daniel Lubetzky|
|Episode (Shark Tank USA)||Season 12 Episode 5|
|Air Date||November 13, 2020|
|Business Status||In Business|
|Headquarters||Sonoma, California, United States|
|Go To Amazon||Buy Now|
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Who Is The Founder Of Bee D’vine?
Ayele Solomon is a native of Ethiopia and the Citizen of the United States and is the Founder and CEO of the Bee d’Vene Honey Wine Company.
Ayele is the beginning of their coming to the United States before inventing this product. So when he was 12 years old, his family moved to the Bay Area of California.
He then earned a degree in Environmental Economics from the University of California, Berkeley. He did natural resource development at Michigan State University.
He did an Intern at Environmental Protection Agency. He returned to Ethiopia to consult on creating and promoting opportunities for indigenous residents of the Kafa rainforest.
It was from the rainforest that he got the idea to make this wine product.
Bee D’vine Before Shark Tank
Bee D’Vine is made using the old technique, it has a lot of benefits, many diseases, etc. for health get destroyed by it.
The rainforest was slowly getting destroyed. There are many people who used to cut the trees so that they can make land to make this house to grow crops.
Ayele showed a traditional behavior in the same tree that Hone Bee used his method to collect only a few pounds of honey annually.
To give it a better direction, it became the mission of Ayele. After that Bee D’Vene’s parent company, Honey Wines was started.
The founder then moved to California and collaborated with biochemists, chemists, winemakers, and beekeepers.
After that, he started making Honey wine in a natural way, in which he captured the essence of fresh, fragrant flowers with suggestions of earthiness, nuttiness, and wood.
Did Bee D’vine Get a Deal on Shark Tank?
Bee D’vine founder, Ayele Solomon, spoke in a very simple way on Shark Tank and asked the sharks for $750,000 for 20% equity.
Because their product is different from the rest of the wine and what ingredients are found in it, they told about all these things.
When Shark tested this honey wine, he liked this wine very much. Shark also praised the founder for the taste of this wine.
When Robert asked the founder how much this wine cost, he replied that the retail price of non-sparkling is $39 and sparkling $49.
In the subsequent 6 years of 2020, this company generated sales of $400,000. In 2019, he generated $115,000 in sales in 12 months.
The founder started it by investing $600,000 with himself, his family, and a few friends.
Mark said in this that its price is very high, so people are not interested in buying it, due to which no one is able to test it. When people will not test this wine at all, then it is impossible to grow it.
Kevin said that 97% of the wine that is sold in America costs under $14.
The cost of one bottle comes to $5.93 but Ayele sells it for a very high price. In this, the founder says that this is a classical strategy for small volume high margin.
Robert has told that the biggest problem with this product is that people are not able to test it because its price is expensive.
It ships 400 to 500 cases every year.
Lori made an offer to the founder, Ayele, in which Lori would be 4 sharks with Mark, Robert, and Daniel their offer of $750,000 for 40% equity.
Ayele Solomon agreed to this business deal with 4 sharks.
What Happened To Bee Dvine After Shark Tank?
After Bee D’vine got the deal from Shark Tank, there was a huge difference in their sales. As the founder had told about its test that its test is very good, then people also started buying this product to test it.
A few weeks after the release of this episode, a million worth of honey wine bottles were sold in this company.
It has also made a lot of changes in the price of its wine, now its two wines come in Berelé T’ej Flask for $10, and Wancha (grape Wine) Chardonnay for $28.
beedvine has just launched the subscription model, in which they offer a $25 flat rate with free shipping and free two glasses.
After the release of this episode, there were so many sales that their stocks were exhausted, in March 2022, their stocks arrived.
In May 2022, he celebrated his 8th-year business. The information about their revenue is not yet known, will tell further.
Bee D’vine Shark Tank Update
After this company got an investment in Shark Tank, its sales increased to some extent. Although the price of this company’s wine is expensive compared to other wines, the taste is quite good.
The wine was out of stock after this episode of Shark Tank aired but is back in stock in April 2022.
What Is Bee D’vine Net Worth?
Bee D’vine Net Worth has become $1.2 million. If its sales continue to grow in the coming times, then it can also grow in its net worth. After getting the deal in Shark Tank, the valuation of this company was $1.8 million.
Is Bee D’vine Still In Business?
Yes, Bee D’vine is still running well in June 2022, it is seen that Lori and the other 3 sharks are still with this company.
One percent of the sale of this wine goes to the Ethiopian Kafa community.
Yes, Bee D’vine is still in business as of November 2022.