Net worth

Copa di Vino Net Worth 2022 – What happened after Shark Tank?

Drinking wine is a delicate experience. However, needing a corkscrew to crack a bottle is impractical. Copa di Vino is a single-serve wine in a glass that you drink on the go. Founder James Martin has brought his product to Shark Tank twice and rejected all offers each time. In 2022, Copa di Vino is worth $30 million.

About the Founder

James Martin grew up in Dalles, Oregon. He studied electrical engineering at Linn-Benton Community College and mathematics at Portland State University.

In 2003, he took over as head of the beverage manufacturing company Quenett. When James was lucky enough to acquire an abandoned flour mill in the area, he was motivated to turn it into a winery. His neighbors and family helped him open the Sunshine Mill Winery in 2005.

Founder of Copa di Vino

The Oregon native once vacationed in France to visit their iconic vineyards. During the trip, he took a high-speed train, where he first thought of the idea of ​​drinking wine anytime, anywhere.

Back home, Martin was driven to develop the technology that would make his concept a reality. The product was ready in 2009 and the founder named it Copa di Vino, which means “a glass of wine” in Italian.

Martin has eliminated the need for a bottle and a corkscrew. When placed in a cup, the shelf life of wine decreases significantly, but the entrepreneur has also found a way to extend it. Because of this, his business exploded.

Shark tank appearances

James Martin made his first appearance in season 2 of Shark Tank, asking $300,000 for 5%. Kevin O’Leary offered $600,000 for 51%, but the wine entrepreneur felt that was too high and rejected the deal. When he left the Tank, not all of the Sharks liked him.

A year later, Copa di Vino went from $600,000 to $5 million in sales, but still suffered from inventory issues. He was eager to return to the series and rub the Sharks’ nose in its success.

In 2012, he appeared in the third season, still looking for $300,000 for 5%. This time, the Sharks were all interested. Kevin, along with Mark Cuban and Robert Herjavec, offered $600,000 for 30%. James stopped to take a sip of a wipe during negotiations which further annoyed the Sharks and they all walked out.

After Shark Tank

After the first episode aired, the company expanded its distribution by partnering with major retail brands such as 7/11, Walmart, Kroger and Ralph’s Wines. This is how the company generated $5 million in 12 months.

Although he is now one of the most hated pitchers in the series, not agreeing to a deal has worked better for him in the long run. The business continued to grow and inventory issues were resolved. As of 2020, Copa di Vino would have made over $20 million in annual revenue in 2021 and an estimated value of $30 million.

Copa di Vino was acquired by Splash Beverage Group for $5.98 million in December 2020. Splash Beverage Group is a publicly traded company on the NYSE and has a market capitalization of $70 million. Currently Splash is losing money and the stock price is down 20% in the last year.