What happened to Obvious Wines after appearing on Shark Tank Season 10? Obvious Wines, founded by Brice Baillie, appeared on Shark Tank Season 10 seeking $150,000 for 5% equity. While they initially secured a deal with Lori Greiner for $160,000 for 12.5%, it ultimately fell through due to a better investment offer. Despite this, the company has continued to grow, exceeding $4 million in annual revenue by 2024. They have expanded their online presence, increased their product offerings, and broadened their distribution reach.
Summary
- Obvious Wines, founded by Brice Baillie, aims to simplify wine selection with clear labels and sustainable practices.
- Baillie appeared on Shark Tank Season 10, seeking $150,000 for 5% equity.
- He initially secured a deal with Lori Greiner for $160,000 for 12.5%.
- The deal with Lori did not close as Baillie received a better offer.
- Obvious Wines has continued to grow, reaching over $4 million in annual revenue by 2024.
Obvious Wines Shark Tank Update | Shark Tank Season 10
Choosing wine can be tough.Obvious Wines recognized this barrier and set out to change things.
They offer a refreshingly simple approach to wine, making it accessible and enjoyable for everyone, from the novice to the connoisseur.
Obvious Wines
Obvious Wines cuts through the confusion by focusing on what truly matters: taste and transparency.
Their labels tell you exactly what you need to know – is it light or bold? Sweet or dry? Perfect for pairing with a hearty steak or a light salad? No more deciphering complicated descriptions or feeling lost in the wine aisle.
1. The Founder’s Vision
Founder Brice Baillie believes everyone should be able to enjoy wine without needing a sommelier certification.
He noticed a disconnect between people’s love for wine and their understanding of it. This inspired him to create a brand that demystifies the wine selection process.
Obvious Wines is about inclusivity and enjoyment, welcoming everyone to the world of wine with open arms.
2. Sustainable Sourcing and Clear Labeling
Obvious Wines not only simplifies the selection process but also prioritizes sustainability.
They source their grapes from vineyards committed to eco-friendly practices, ensuring that each bottle is as good for the planet as it is for your palate.
Their commitment to transparency extends beyond the ingredients, with clear labeling that empowers consumers to make informed choices.
Whether you’re a seasoned wine enthusiast or just starting your journey, Obvious Wines makes it easy to find the perfect bottle for any occasion.
Obvious Wines on Shark Tank Season 10
1. The Pitch
| Entrepreneurs | Brice Baillie |
|---|---|
| Business | Obvious Wines |
| Ask | $150,000 for 5% equity |
| Deal | $160,000 for 12.5% equity |
| Sharks | Lori Greiner |
| Season – Episode | Season 10 – Episode 11 |
| Original Air Date | January 13, 2019 |
| Website | Obvious Wines |
| Key Points of Pitch |
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| Why Sharks Accepted |
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2. The Initial Deal
Brice Baillie walked into the Shark Tank with confidence, seeking $150,000 for a 5% stake in his company. He presented Obvious
Wines as a solution to the common problem of confusing wine labels and intimidating selection processes.
He highlighted the company’s commitment to sustainable sourcing and its mission to make wine more approachable.
While the Sharks were initially hesitant about the low equity offer, they were impressed by the taste and concept of the wines.
Lori Greiner, recognizing the potential for growth and the appeal to a wider audience, made an offer of $150,000 for 12.5% equity.
After a brief negotiation, they settled on a deal of $160,000 for 12.5%. It seemed like a perfect match, but the story doesn’t end there.
Obvious Wines Update
1. Why the Deal Fell Through
While the Shark Tank appearance gave Obvious Wines a significant boost, the deal with Lori Greiner ultimately didn’t go through.
Between the filming of the episode and its airing, Brice Baillie managed to secure another investment offer.
This new offer provided a better valuation for his company, making it a more attractive option than the deal with Lori.
2. Continued Growth and Success
Despite not partnering with a Shark, Obvious Wines continued to thrive. The company experienced significant growth, expanding its product line and increasing its distribution reach.
By 2024, Obvious Wines reached an annual revenue of over $4 million, demonstrating the strong demand for its accessible and sustainable approach to wine.
3. Crowdfunding and Expansion
To further fuel its expansion, Obvious Wines turned to crowdfunding. In 2021, the company launched a campaign on StartEngine, successfully raising over $223,000 from investors.
This move not only provided additional capital but also demonstrated the strong public belief in the brand’s potential.
Obvious Wines has continued to innovate, introducing initiatives like a lifetime wine subscription, solidifying its commitment to making wine accessible to all.
The Future of Obvious Wines
Obvious Wines has carved a unique niche in the wine industry by focusing on simplicity, sustainability, and accessibility.
Their commitment to these values has fueled their impressive growth and resonated with a wide audience.
As they continue to innovate and expand their offerings, the future looks bright for Obvious Wines.
We can expect to see them further solidify their position as a leader in demystifying wine and making it an enjoyable experience for everyone.
FAQs
Where can I buy Obvious Wines?
Obvious Wines are available for purchase on their website and at select retailers across the United States.
What makes Obvious Wines different?
Obvious Wines stands out for its clear and concise labels, commitment to sustainable practices, and dedication to making wine approachable for all.
What types of wine does Obvious Wines offer?
They offer a variety of wines, including red, white, rosé, and sparkling, all with easy-to-understand descriptions.
Does Obvious Wines offer any subscriptions?
Yes, they offer a lifetime wine subscription, allowing customers to receive a regular supply of their favorite wines.
The Bottom Line
Obvious Wines proves that enjoying good wine doesn’t have to be complicated. By prioritizing clarity, sustainability, and customer experience, they have successfully made the world of wine more accessible and less intimidating. Whether you’re a seasoned wine lover or just starting your journey, Obvious Wines offers a refreshing and enjoyable experience.
