Key Takeaways:

  • Bee D’vine Honey Wine, supporting bee populations, sought $750,000 for 20% equity.
  • Concerns over high price points but praised for taste.
  • Final deal: $750,000 for 40% equity shared among four sharks.

Bee D’vine on Shark Tank

Ayele Solomon is on a mission to make his African-inspired honey wine a hit in the United States.

As an environmental economist, Ayele is concerned about the dwindling bee population worldwide. Leveraging his knowledge of making honey wine in Kenya, Ayele has created his company, Bee D’vine Honey Wine, to help support the bee populations while introducing multiple honey wine flavors that the Sharks can’t get enough of.

The Sharks React to Bee D’vine’s Pitch

Seeking $750,000 in exchange for 20% equity in the Shark Tank, Bee D’vine Honey Wine is hoping to partner with a Shark that is able to help them sell more product while potentially restructuring their margins.

Because the price point on their bottles is high, the Sharks are concerned that they are losing business.

97% of wine purchases are bottles that are $14 and under. In order to be competitive in this market, the Sharks advise that they need to reduce the retail price of Bee D’vine Honey Wine.

The Sharks love the flavors of the wine that are currently available as well as the sparkling option. Bee D’vine Honey Wine is made with two main ingredients, honey, and pure spring water. Since Kevin has a competitive wine business and considers himself a connoisseur of wine, he came down a bit hard on Ayele’s business.

Because they loved the taste of the wine, and because they wanted to compete with Kevin in the wine space, the other four remaining Sharks decided to partner together and invest in Bee D’vine Honey Wine. They offered to invest $750,000 in exchange for 40% equity in the business. Each Shark in the offer would get 10% equity. Ayele accepts their offer and is excited to have partnered with four successful Sharks.

Final Thoughts

What do you think about the deal that Ayele received in the Shark Tank?

Were you surprised that four Sharks banded together for this offer? If you were Kevin, would you have extended your own counteroffer and pulled Bee D’vine Honey Wine into your portfolio? If you were a Shark would you invest in this company?

Start the conversation in the comments below!

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