Bee D’Vine Shark Tank Net Worth 2023
Bee D’Vine Shark Tank Net Worth
As of February 2023, Bee D’vine’s net worth is estimated to be around $1.2 million.
Bee D’vine, a sustainable-produced, barrel-aged honey wine brand from Sonoma Valley, appeared on Shark Tank Season 12 Episode 5 in November 2021.
The founder, Ayele Solomon, asked the Sharks for $750,000 for 20% equity in his company and received an offer of $750,000 for 40% equity from four Sharks. This resulted in a valuation of $1.8 million for Bee D’vine.
Since appearing on Shark Tank, Bee D’vine’s sales have increased and the company has become more popular. The company has also released new wine varietals made from honey harvested in specific regions around the world.
Despite having most of their wine offerings currently sold out, customers can still order available wines on Bee D’Vine’s official website.
What is Bee D’Vine? Who is the Founder of Bee D’Vine?
Bee D’Vine produces honey wines using spring water and honey instead of grapes. These wines are aged in barrels for a minimum of 15 months and have an alcohol content of approximately 17%, which varies depending on the type, such as Brut, Demi-Sec, or Reserve.
Bee D’Vine is highly eco-friendly and doesn’t require large vineyards, irrigation, or any other traditional vineyard features.
Solomon, the founder of Bee D’Vine, has a long-term goal of sourcing wild honey from rainforests worldwide to generate jobs and promote conservation.
Based in Napa Valley, Bee D’Vine launched a wine tasting area in San Francisco’s Ferry Building in December 2019. A 750 mL bottle costs $49, a 350 mL bottle costs $29, and limited edition wines are available for $349 for a 3 liter bottle.
Part of Bee D’Vine’s profits goes to the Kafa village in Ethiopia, where they assist with transitioning to modern beehives to produce more honey. This additional revenue benefits the Kafa community and supports the preservation of Kafa trees.
Before founding Bee D’Vine, Ayele Solomon concentrated mainly on environmental conservation. He has been the founder and winemaker of Bee D’Vine for around thirteen years.
His professional interests include entrepreneurship, development and environmental financing, and economic, social, and environmental justice concerns.
Ayele Solomon’s passion for environmental and resource conservation began in 2009 while trekking through the rainforests of Ethiopia’s Kafa Province.
He discovered that by increasing the perceived value of trees, it could incentivize local people to conserve them.
The Kafa Province has mostly blooming trees that produce nectar and pollen for bees to make honey, and since honey wine is Ethiopia’s national drink, Ayele became inspired to learn more about it. Upon returning to California, he founded Bee D’Vine, a honey wine company.
Bee D’Vine Shark Tank Pitch
Ayele made an appearance on Season 12 Episode 5 of the ABC Shark Tank show, seeking a $750,000 investment for a 20% stake in his winery. This would value the company at $3.75 million.
During the show, Ayele presented four wine samples to the Sharks, and they enjoyed them. Ayele disclosed that over the past six years, his winery had only generated $400,000 in sales.
However, in the previous year, Bee D’Vine wine had generated $115,000 in sales, indicating that the business was heading in the right direction.
This caught the interest of all the Sharks, except for Kevin O’Leary, who was already involved in the wine industry. Ayele stated that the average bottle of Bee D’Vine wine sold for $39-$49, but only cost $5 to produce.
The Sharks suggested that the company create a more affordable wine, in the $15 range, to attract customers who were not willing to pay as much for a new brand of wine.
Following this recommendation, Mark Cuban, Lori Greiner, Robert Herjavec, and Daniel Lubetzky offered Ayele a $750,000 investment for a 40% stake in Bee D’Vine Honey Wine.
Each Shark would receive a 10% equity share. Ayele accepted their offer and was thrilled to partner with four successful Sharks.
However, the deal with Mark, Lori, Daniel, and Robert was never finalized. As of July 20, 2021, Bee D’Vine Honey Wine was still in operation and some of their wines were sold out and available for pre-order.
What is the Net Worth of Bee D’Vine?
Ayele appeared on Shark in search of $750,000 for a 20% stake in his winery. This translates to a $3.75 million valuation.
He accepted an offer from Mark, Lori, Robert and Daniel of $750,000 for 40% stake in the business which brings valuation to be $1.875 million.
Who are the Competitors of Bee D’Vine?
There are no competitors identified for Bee D’Vine.
Bee D’Vine FAQS
What is Bee D’Vine?
Bee D’Vine’s honey wines are made using spring water and honey, rather of grapes, and are barrel-aged for at least 15 months.
Who is the Founder of Bee D’Vine?
Ayele Solomon is the founder of Bee D’Vine.
How much was he seeking in the Shark Tank?
He was asking for $750,000 in exchange for 20% stake of the company.
Did he get a deal from the Shark Tank?
Four Sharks offered $750,000 for 40% stake in the company.
Is Bee D’Vine still in business?
The company is still in operation as of July 20, 2021. Some of their wines, which are available for pre-order, are sold out.
When was Bee D’Vine aired on Shark Tank?
Ayele appeared on Shark Tank show Season 12 Episode 5 on November 13th, 2020.
Where is Bee D’Vine located?
It is located in Sonoma Valley, California.
How much does it costs?
A 750 mL bottle costs $49, while a 350 mL bottle costs $29.
What are the ingredients in Bee D’Vine?
There are no ingredients in Bee D’Vine. They use spring water and honey.
Where does Ayele Solomon live?
He lives in Sonoma Valley, California.
Is Bee D’Vine alcoholic?
Yes, between 11.5 and 12.5 percent.
How many calories in Bee D’Vine?
Their wines include less calories than traditional meads and some grape wines (slight variations occur vintage to vintage).
125 calories per 150ml glass of dry/Brut
Semi-sweet/Demi Sec has 140 calories per 150ml drink.
Are there Sulphites in their wine?
Unlike grape wines, their wines do not contain naturally occurring sulphites. They do, however, add minor quantities throughout the maturing process and right before bottling.
They often contain less than 15 ppm free sulphur, which is significantly less than that of regular grape wine.
Is Bee D’Vine gluten free?
They are, indeed.
Should it be chilled at serving?
Yes, cool Bee D’Vine like they would white wine before serving, but it can also be kept at room temperature before opening.
How many days will the wine last after opening?
Refrigerate for about a week. After opening, please keep refrigerated.
When will their order ship?
If received by 14:00 California time, it will be processed the same day.
Can they change their order?
Unfortunately, no, because orders are filled as soon as they arrive. Please make their final option when placing their order, since all orders are final.
Because they employ innovative DIAM technology natural corks derived from TCA, there is no possibility of a faulty cork.
Where is their order?
When they send their order, they should receive a tracking number through email; please check their junk/spam folder.
Is it okay to ship during summer?
They thoroughly tested Bee D’Vine for heat damage and discovered no discernible difference in taste or appearance.
During the hot summer months, they distribute complimentary icepacks. In the event of a high heat surge, they will postpone shipping and notify them.
What is the net worth of Ayele Solomon?
Ayele Solomon’s net worth is unavailable.