Who doesn’t love to enjoy a nice glass of wine at the end of the day?
Surely, our beloved Sharks do.
As part of their pitch, the Hoyts shared how their technology came to be in 2008.
By 2011 they had perfected the Intelli-Stopper technology, acquired a patent, and launched Wine Doctor.
Wine Doctor on Shark Tank
The Hoyts arrived at the Tank passionate about Wine Doctor’s potential.
They requested a deal from the Sharks of $250,000 in exchange for 10% equity.
But once they got into the nitty-gritty of the Hoyts' business, they were a bit less impressed.
Cuban and Herjavec backed out due to limited experience in the wine industry.
QVC Maven Greiner noted that wine products sold horribly on the shopping channel, and wouldn’t invest.
Meanwhile, O’Leary is a well-known vino lover and the proud owner of “O’Leary Fine Wines.”
But upon hearing Wine Doctor’s high company valuation $2.5 million he immediately gave the Hoyts some pushback.
Unsurprisingly, the last Shark ultimately bowed out of the deal.
But as seen with other beverage-based companies such asProntoBev, success isn’t always guaranteed after the Tank.
Additionally, they were looking forward to going on Shark Tank a second time, which never happened.
Wine Doctor’s Instagram page has not been updated since 2014, and its website is no longer running.
According to Chase’s LinkedIn, the business shut down in 2016.
However, he launched “Hoyt & Co,” a broader wine and kitchen accessories company.
Maintaining his entrepreneurial spirit, he then co-founded the social media app “Sandbox” in 2017.
The city-based app for friend-making ceased operations in 2020.
According to his website, Hoyt is now a successful luxury real estate agent in Palm Springs.
In June, hepostedon Instagram about his Shark Tank experience.
