BottleKeeper Shark Tank Net Worth 2023
BottleKeeper’s estimated net worth as of 2022 is $100 million. The company entered Shark Tank in 2018 asking for a $1 million investment in return for just 5% equity in their business.
After the show, BottleKeeper saw a 300% jump in sales. In the previous ten days before appearing on Shark Tank, BottleKeeper had grossed over $1 million in sales and had made over $20 million in the past three years.
As of June 2021, the company reportedly generates $13 million in annual revenue and has an estimated net worth of $100 million.
There is no information available on BottleKeeper’s net worth for 2023.
However, given that the company has been growing steadily since its appearance on Shark Tank, it is possible that its net worth will continue to increase.
What is Bottlekeeper? Who is the Founder of Bottlekeeper?
The Bottlekeeper is a container made of stainless steel that has been insulated with neoprene and cushioned to hold a glass beer bottle, keeping it cold and protecting it from breaking if dropped.
To insert the beer bottle, the bottom of the steel holder can be detached, and the top cap, which holds the bottle securely in place, also includes a bottle opener.
Adam Callinan and Matt Campbell, who are natives of Arizona, co-founded The BottleKeeper.
They came up with the idea for their product by wondering why stainless steel water bottles that keep water cool couldn’t be adapted for beer bottles.
Once they had completed the prototype, they raised funds through crowdfunding and obtained a patent for their device.
Mark Cuban, who later became a partner with Lori Greiner, invested in BottleKeeper, a California-based company that manufactures the stainless steel container designed to keep glass beer bottles cool while also preventing them from breaking.
BottleKeeper Shark Tank Pitch
In episode 1007 of Shark Tank, Adam Callinan and Matt Campbell, who are cousins and share a dislike for warm beer, presented their solution for keeping bottled beer cool, which they call BottleKeeper. BottleKeeper is essentially an insulated beer bottle holder or a single-serving cooler.
The entrepreneurs were seeking a $1 million investment in exchange for a 5% stake in their company, which would value their company at $20 million.
They explained that they needed the funding to expand their online-only business into retail outlets and to generate the necessary inventory to do so, as there were already over 3,000 US retailers interested in their product.
The duo invested $4 million in Facebook advertisements alone and paid a $500,000 intellectual property lawyer to assist them in protecting their product from imitations.
However, in the previous year, the company earned $0.9 million but lost $400,000 in sales due to their investment in branding and marketing.
Two of the Sharks, Mark Cuban and Lori Greiner, were impressed and committed $500,000 each for a combined 5% ownership in the company, as well as a royalty of $1.50 per unit until $2 million is recouped.
According to Callinan, the company saw a 300% increase in sales within the first 24 hours of the episode airing on Shark Tank.
BottleKeeper FAQS
What exactly is BottleKeeper?
The BottleKeeper is a revolutionary stainless steel container that holds a beer bottle and keeps it cold.
What exactly is a protective sleeve?
The protective sleeve not only keeps a bottle of beer ice cold, but it also prevents shattered bottles.
What exactly is BottleKeeper made of?
Bottlekeeper is a stainless steel bottle with a neoprene liner that’s meant to keep a beer bottle cool for a long period.
Basically, it is composed of stainless steel and is cushioned and insulated with neoprene.
Did BottleKeeper get a deal on Shark Tank?
This technology keeps bottled beer fresh, made $1 million in sales in 10 days, and landed a million-dollar contract on ‘Shark Tank.’
And it was their simple but clever answer to that problem that secured their company, Bottlekeeper, a million-dollar investment from Mark Cuban and Lori Greiner on Sunday’s episode of “Shark Tank.”
They wanted the money to scale up manufacturing and distribute them in brick-and-mortar retail sectors.
What happened following Shark Tank?
Adam and Matt entered the shark tank episode in search of a $1,000,000 (1 million) investment at a 5 percent equity stake.
They left the Tank with a $1 million contract from Lori Greiner and Mark Cuban in exchange for the 5% stock they provided.
There is however no proof that the contract with Lori and Mark was completed.
The company also received extensive exposure on the show.
Who invested in BottleKeeper?
According to the manufacturer, its stainless steel bottle sleeves are insulated with neoprene and slide over a regular beer bottle to keep it cool.
Mark Cuban and Lori Greiner, two of Shark Tank’s four investors, each committed $500,000 for a combined 5% ownership in the firm.
The deal was for 1 million investment for 5% equity and a $1.50 royalty with a repayment clause till the $2 million is reached.
How long can the BottleKeeper keep beer cold?
It will keep your beer cold for 6 hours. BottleKeeper X is double walled and vacuum insulated, allowing you to keep your beer cooler and longer than ever before.
Who are the founders of BottleKeeper?
Arizona natives Adam Callinan and Matt Campbell co-founded The BottleKeeper.
What inspired the Bottle Keeper’s concept?
The Bottle Keeper was conceived as a result of wondering why stainless steel water bottles that keep water cool couldn’t be adapted to beer bottles.
Simply explained, the Bottle Keeper is a beer bottle holder that is insulated.
What are the sales?
The founders, Callinan and Matt Campbell co-founded moved into production, launched a website, and generated a whopping $20 million in sales over the course of three years.
Who are your competitors?
Cool Things (Australia), Engadget, Digitaltrends, and Zemanta are among the rivals.
What has changed the Shark Tank?
The founders requested $1 million in exchange for a 5% stake in the company. They got $1 million in exchange for a 5% stake in with royalty of $1.50 per unit until the investment had returned a profit of $2 million to the Sharks.
BottleKeeper has expanded its product line to include CanKeeper and PintKeeper, as well as a number of accessories, in response to consumer demands and since Shark Tank.
What was the net profit of the company?
The partners claimed that despite making $9,000,000 in the previous year, the firm only generated a net profit of $500,000.
What was the deal?
They came to Shark Tank looking for $1 million in exchange for a 5% stake in their firm. There had to be something to sweeten the deal for the Sharks, and that something was a joint royalty of $1.50 per unit until the investment had returned a profit of $2 million to the Sharks.
How much is the product?
It sells its flagship product for $34.99.
