Founders Whitney Gates and Chaz Gates appeared in Shark Tank Season 14 Episode 6 with their company and demanded $185K for an 8% equity at a $2.3 Million Valuation from the sharks.
Wondry wine is a natural wine and it is made using natural organic fruits, apart from this, this wine has very low alcohol content.
This wine comes in a variety of flavors including peach, apple, mango, and more. Their cocktail wines are available at 48 retail stores in the United States. Cocktail wines cost an average of $15 to $24, depending on the flavor.
| Company Name | Wondry Wine |
| Founder | Whitney Gates and Chaz Gates |
| Founded | 2021 |
| Product | 100% natural & infused with organic berry, citrus & exotic fruit |
| Asked For | $185K for a 8% equity |
| Final Deal | $225K for a 15% equity |
| Shark | Mark Cuban |
| Episode (Shark Tank USA) | S14 E6 |
| Air Date | Nov 11, 2022 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Dallas, Texas, United States |
| Go To Amazon | Buy Now |
Another Shark Tank Pitch
Who Is The Founder Of Wondry?
Wife and Husband Whitney Gates and Chaz Gates the co-founder of Wondry Wine Company. They started this company in 2021 from Texas.
Whitney Gates
Whitney is the Co-Founder and Chief Executive Officer of the company. After completing her marketing studies at Washington University in St. Louis, she completed her MBA studies at the same university.
After her studies, she worked as a business planning associate at General Mills for 2 years. She worked in The Coca-Cola Company for 3 years and 1 year she worked as Senior Brand Manager in it.
After this, she spent about 3 years at Keurig Dr Pepper Inc. Was a Brand Manager.
Wondry Before Shark Tank
The official launch of Wondry Company was in 2021. When the founder was 10 years old, she visited her late uncle’s LC. She saw how homemade wine is being made using fruits and veggies.
She saw how her uncle was making wine using some interesting food. The founder knew that her family & community used to drink wine like water.
After that, the founder learned a lot about winemaking from her uncle, and this Wondry Wine was born. When this wine business was growing, the Covid-19 pandemic came due to which they had to face a lot of challenges.
The founder was interviewed by NBC DFW News in August 2021. This cocktail wine brand is very popular in its local area of Dallas, Texas.
This business is at a starting position, investment is necessary for the growth of the business, so the entrepreneur decided to enter the shark tank.
How Was The Shark Tank Pitch Of Wondry Wine?
Both Gates entered Shark Tank with their company “Wondry Wines” and demanded $185k for an 8% stake from the sharks. Both of them pitched their product to the shark in a very unique way and the sharks also enjoyed it.
Sharks tested this Wondry Cocktail Wines and they liked the taste very much. They say that she uses premium organic ingredients to make her wines. The retail price of their wines ranges from $14 to $99.
This wine generates sales both through D2C and retail. It currently partners with two major retailers, Target and Total Wine & More.
The One Bottle Cocktail Wines has a manufacturing cost of $3.61 and sells the bottle at retail for $13.30. Very good margin of business.
It started business in August 2021 and sold $250,000 in 11 months. They have a profit of $60,000 in these sales and a 32% operating margin.
Daymond John says that he is not a wine person, he does not know how it is going and he does not have expertise in it, so that is why he is out.
Lori Greiner says that this is not the right investment for her, so she is out for this reason. Peter Jones says that this business is not right for him and this business journey is quite tough.
Mark Cuban offered the entrepreneur $185k for a 15% equity. Whitney countered Mark for $250k for a 15% equity. Mark made another counteroffer of $225K for a 15% equity. The entrepreneur agreed to the offer of Mark.
Finalize: Mark Cuban invested $225K in “Wondry Cocktail Wines” for 15% equity.
Wondry Shark Tank Update
The most liked company in Shark Tank Season 14 Episode 6 is “Wondry Wines”. However, except for Mark Cuban, all the sharks refused to invest in this business. Mark invested $225K in this company at a valuation of $1.5 million.
In the present time, the business of this type of natural wine is growing very well, many new brands are being made in this natural wine industry.
This Cocktail Wines Company Product must be available at big-box stores like Costco to do good business. Costco is the third-largest retailer brand in the world.
Shark Daniel Lubetzky liked this couple’s wine business. Many viewers on Twitter are impressed with the natural ingredients of this wine, so they would like to buy and test this wine.
The entrepreneur pitched well enough to get funding for Shark Tank and got the sharks tested on their natural wines. The founder said that it is focusing on making a natural wine without using artificial ingredients.
Mark Cuban can become a very good partner for this business. Entrepreneurs will use Mark’s contacts to grow their wine business.
We’re following Whitney Gates and Chaz Gates along with their company for further updates.
What Is Wondry Net Worth?
This natural wine comes with an average price and is mostly sold in the Dallas area. It should be available in every restaurant and bar throughout the United States to make the wine more sold. Looking at its old sale reports, we believe Wondry net worth is around $500,000.
The founder of this wine company is from the Black community and the founder says that 1% of the winemakers belong to the Black community.
The co-founder of this company, Whitney, and her family members have been making homemade wine for a long time. The founder taught her uncle how to make homemade wine.
Yes, Wondry Wine is still in business as of April 2024.
