Biem Butter Sprayer Shark Tank Net Worth 2023
The Biem Butter Sprayer appeared on Shark Tank in 2016 and was valued at $10 million. Doug Foreman, the founder of Biem Butter Sprayer, requested a $500,000 investment in exchange for a 5% stake in the company.
Lori Greiner made an offer of $500,000 for a 14% share in Biem Butter Sprayer. However, the deal fell through because Foreman did not have a working prototype ready during the due diligence phase. The net worth of Biem Butter Sprayer is unknown as of June 2022.
Biem Butter Sprayer has been vigorously promoted on social media platforms and on the company’s website since appearing on Shark Tank.
However, as of June 2022, there are still no updates that have been made on their official website, which means they are out of business. The Biem Butter Sprayer V2 is currently unavailable on Amazon and is listed as sold out on the company website.
What is Biem Butter Sprayer? Who is the Founder of the Biem Butter Sprayer?
The Biem Butter Sprayer is a device that can transform solid butter into a liquid spray instantly, without using any chemicals or propellants.
This gadget is perfect for cooking grilled cheese and popcorn and allows you to adjust your serving size while cooking.
The Biem Butter Sprayer is equipped with a refrigerator-safe rechargeable battery that liquefies butter without burning it.
Designed for butter enthusiasts, the Biem Butter Sprayer enables users to apply butter sparingly. To use the sprayer, simply insert a butter stick into it and heat it until it melts. Then, spray the butter using the Biem Butter Sprayer.
Doug Foreman, a serial entrepreneur and creator, founded the Biem Butter Sprayer. He noticed that butter was being wasted and decided to develop a device that could reduce this waste.
Doug, who has worked in the food industry for his entire career, applied for patents on the nozzle spray after discovering that the Biem Butter Sprayer could be used on a variety of foods, improved flavor, and used very little butter.
To fund the mass production of the Biem Butter Sprayer, Doug turned to crowdfunding.
The product had a lot of features, including an automatic butter-melting feature and a nozzle that properly sprinkled butter without clogging. Investors were eager to put their money into the Biem Butter Sprayer due to its potential.
Doug earned $235,000 in a Kickstarter campaign in April 2016 to fund the production of Biem. However, despite its potential, the product did not take off, and the official website now lists it as sold out.
Doug is currently the CEO of Austin Automation, but before founding Biem, he established Beanitos and Guiltless Gourmet, two lines of healthy chips and dips.
Biem Butter Sprayer Shark Tank Pitch
Doug pitched his product on Shark Tank Season 8 Episode 4, seeking a $500,000 investment in exchange for a 5% stake in his company, which valued his firm at $10 million.
He demonstrated the product to the Sharks using a video and gave them popcorn and Biems, a gadget that only melts butter when activated.
Doug claimed that it cost him $43 to produce each unit, but he could lower the cost with increased volume. He sells the product for $137.
Doug declined Robert’s offer to add additional sprayers to the product, but he informed Lori that he had two patents pending.
When Robert inquired about the projected sales, Doug stated that he expects to sell 100,000 units in the first year, generating $10 million in revenue.
Daymond was the first to make an offer, bidding $500,000 for a 17.5% stake, but Lori also made an offer of $600,000 for a 20% stake. Robert offered $50,000 for a 10% stake, but his offer was not accepted.
Kevin also offered $500,000 but for a 15% stake. Lori suggested producing two versions of the product, but Daymond interrupted her. Ultimately, Greiner’s offer of $500,000 for a 15% stake was accepted by Doug.
However, despite the positive feedback on their website, Biem faced issues with disgruntled Kickstarter funders and complaints were filed with the Better Business Bureau.
They continued to sell products on their website, but as of May 2021, there has been no Facebook update since December 2019, and all the sprayers are out of stock.
Biem Butter Sprayer Net Worth
Doug appears on Shark Tank in search of a $500,000 investment in exchange for a 5% stake in his firm. This represents a $10 million value. He accepted an offer from Lori of $500,000 for 14% equity thus valuing it at $
Biem Butter Sprayer Competitor
There is no competitor for Biem Butter Sprayer.
Biem Butter Sprayer FAQS
What is Biem Butter Sprayer?
Biem Butter Sprayer is a gadget that instantly transforms a solid stick of butter into a liquid spray.
Who was the founder of Biem Butter Sprayer?
Biem Butter Spray was founded by Doug Foreman.
How much was he seeking in the Shark Tank?
Foreman was asking for $500,000 for 5% equity of the firm.
Did he get a deal from the Shark Tank?
Yes, he accepted an offer from Lori Greiner for $500,000 for 14% equity but the deal fell through.
What was the price for Biem Butter Sprayer?
The Biem Butter Spray is $137.
What happened to Biem Butter Sprayer?
The Biem Butter Sprayer received a lot of negative feedback from Kickstarter funders. Because the initial version didn’t work, they created a Biem 2.0, and the supporters were dissatisfied.
Is Biem Butter Sprayer still in business?
It is no longer in business.
How was the Biem Butter Sprayer working?
They just place a cube of butter on top of the Biem and turn it on by pressing the cool button on the rear of the machine.
It melts the butter, and then they pull the front trigger, which is built into the handle, and a thin mist of butter is sprayed all over whatever they have in front of them.
When was Biem Butter Sprayer on Shark Tank?
14th of October, 2016.
How were they cleaning a Biem Butter Sprayer?
When holding the beam to spray, push the on/off button once until it starts pulsating, then press and hold for five seconds to start the cleaning cycle.
Were they using Coconut or Olive oil in the Biem Butter Sprayer?
They are really effective! In fact, any cooking oil will suffice.
Were they able to use margarine in the Biem Butter Sprayer?
Yes, margarine sticks can be used, but not tubs. (It’s not required, but they really want them to use butter.
What was the size butter stick?
The Biem Butter Sprayer is intended to operate with butter sticks that are regularly used in the United States! Yes, there are two sizes available.
One is short and stubby, while the other is long and slender, yet they both weigh 4 ounces.
They felt that was strange as well, but it happened due to the development of butter stick production equipment as it was developed around the country.
How was the Biem Butter Sprayer melt butter?
When butter is placed into the Biem Butter Sprayer, it falls from the product’s central carriage and into a reservoir.
The Biem Butter Sprayer melts the butter with layers of ultra-thin heaters. When the butter is melted, it rises from the reservoir to spray.
How was the Biem Butter Sprayer know when to melt butter?
The Biem Butter Sprayer contains a level sensor that determines when to switch on and off the device based on its position.
In a nutshell, this sensor notifies the Biem Butter Sprayer when it needs to melt more butter based on how full the Biem Butter Sprayer reservoir is with butter.
When it reaches a specific level, it instructs the Biem Butter Sprayer to melt additional butter.
How much butter was the Biem Butter Sprayer spray at one time?
It sprays an estimated amount of 4g of butter per spray second.
How long was Biem Butter Sprayer take to go from stick to spray?
The melt-to-spray time is determined by the temperature of the Biem Butter Sprayer at the time of operation.
If the Biem Butter Sprayer has been used, adding more butter is faster than if it has been stored in the refrigerator.
It will take longer if they are just starting to use the unit after it has been stored on the counter at room temperature.
What is net worth of Doug Foreman?
Doug Foreman’s net worth is unavailable.
