Define Water Bottle Shark Tank Net Worth 2023
Define Bottle is a fruit-infused water bottle that allows users to flavor their water with fruit. The company appeared on Shark Tank in March 2014, where founder Carter Kostler was seeking a $100,000 investment from the Sharks for a 20% equity stake in the Define Bottle.
The initial valuation of the company was $500,000. In the four months since launching the product, Kostler had sold $65,000 worth of product. However, he did not secure a deal with any of the Sharks.
Define Bottle’s net worth is unknown as of 2022 because the company has not disclosed its financial information.
However, it is known that Define Bottle went out of business in 2016 and that the product is no longer available in the market. Therefore, it can be concluded that Define Bottle has no net worth in 2023 as it is no longer in operation.
What is Define Water Bottle? Who is the founder of Define Water Bottle?
The Define Bottle is a unique water bottle that allows you to add fresh fruit to your water, creating a delicious and healthy beverage.
It was created by Carter Kostler, a teenager from Virginia Beach, who was concerned about the prevalence of sugary drinks in school cafeterias. His goal was to provide a natural and nutritious alternative for both children and adults.
The bottle has two compartments separated by a filter. One chamber is for fresh fruit and water, while the other is for plain water. The fruit-infused water filters through the filter, naturally flavoring the drinking water.
Carter invented the Define Bottle when he was just 15 years old and in high school. He was motivated to provide a healthier option for kids his age and worked on the concept for six months, taking it from an idea to a prototype.
Since its inception, the Define Bottle has received a lot of positive recognition. Carter has been acknowledged by President Clinton and featured in Forbes Magazine. The product was also named one of Entrepreneur Magazine’s Top 100 Brilliant Companies.
Carter’s ambition is to encourage young people to choose healthier options and to “wean a whole generation of youngsters off soda, one school district at a time.” The Define Bottle is available for purchase on Amazon and directly from the manufacturer.
Define Water Bottle Shark Tank Pitch
Carter Kostler appeared on an episode of Shark Tank, specifically episode 516 called the Young Entrepreneurs Special, to pitch his product, the Define Bottle.
This water bottle allows for fresh fruit to infuse into drinking water, providing a flavorful alternative to sodas. Carter sought $100,000 investment in exchange for a 20% stake in his company, which was valued at $500,000 at the time.
Carter hoped that by providing a healthy and tasty option, particularly for children, he could encourage Americans to drink more water instead of the 1-2 sodas they consume daily.
The Define Bottle had already achieved $65,000 in sales within four months of being introduced to the market, with both online and wholesale sales via the company website.
The Define Bottle was retailing for $30, with a cost of $10 per unit. While available at Whole Foods and David’s Teas, some Sharks expressed concern about the high price and the level of competition. Lori Greiner, Barbara Corcoran, and Kevin O’Leary declined to invest, citing these issues.
Robert Herjavec made an offer of $100,000 in exchange for a 40% ownership share in the company, but Carter countered with a 30% equity offer, which Herjavec declined due to the high level of risk involved. Mark Cuban also declined to invest, citing the risk and Carter’s parents’ mortgage situation.
Despite leaving Shark Tank without a deal, Carter persisted and re-launched the Define Bottle. He secured deals with several large retailers, resulting in $2 million in sales.
Singer Carrie Underwood became involved in the product, helping Carter secure partnerships with Dick’s Sporting Goods and Target. Carter was also a young ambassador for The Alliance for a Healthier Generation for three years.
Carter returned to Shark Tank for an episode of Beyond the Tank in May 2015, where the Define Bottle was featured as a success story.
He demonstrated how far he had come without the Sharks’ investment, proving that he learned as much from his failures as his successes.
Carter ultimately left the company in 2016 to join the US Marine Corps, where he remains a reserve in the Amphibious Assault Vehicle Fleet as of January 2022.
Competitors of Define Water Bottle
The Define Water Bottle was in direct competition with OXO Water Dispenser, Hydro Flask, and Nalgene.
Net Worth of Define Water Bottle
The company valuation was $500,000 during and after the pitch, since then the company went out of business in 2016 and hence the company net worth is not available.
Define Water Bottle FAQs
What is Define Water Bottle?
Define Water Bottle is a fruit infused water bottle that helps people drink more water with the infusion of all-natural fruit flavors.
Who was the founder?
Define Water Bottle was developed by Carter Kostler. It is his first invention.
How much was seeking on Shark Tank?
Carter was asking for $100,000 for 20% stake of the company.
Did he have the deal?
No, the deal was not made and Carter left without a deal on Shark Tank.
Is Define Water Bottle still in business?
No, Define Water Bottle is not in business anymore.
Where was Define Water Bottle located?
Define Water Bottle is located in Boston, Massachusetts.
Does Define Water Bottle have a website or social media accounts?
Define Water Bottle does not have a website and does not maintain social media accounts.
What was the total raise by Define Water Bottle?
Carter raised $65,000 in sales during his first four months since introducing Define Water Bottle to the market.
How Define Water Bottle works?
It is a simple two-chamber water bottle, but instead of drinking plain water, one get the infusion of fruit flavors for their water.
What is Define Water Bottle made of?
Define Water Bottle is made of BPA and Phthalate free material to be healthy and safe for you.
Why people like Define Water Bottle?
Many people like Define Water Bottle because they find it to be an economical and healthy way to add fruit flavor in bottled water.
What is the cost of Define Water Bottle?
The cost of a bottle is $30, but it can be purchased in sizes for less than $10 for more than a year’s supply.
What are the sizes & colors of Define Water Bottle?
Define Water Bottles comes in one size and three colors.
Where is Carter Kostler now?
Carter is currently serving with the US Marine Corps.
How much does Carter Kostler worth?
Carter Kostler net worth was not revealed.
