Guzzle Buddy’s Net Worth
Guzzle Buddy is a patented wine glass that attaches to an open bottle of wine via a single screw, eliminating the need to pour the wine into a glass and cork and uncork the bottle. Guzzle Buddy was founded by Jennifer Sullivan and Randy Rothfus.
They appeared on Shark Tank in search of $400,000 in exchange for a 10% stake in their firm, which equates to a $4 million valuation.
Daymond John invested $400,000 for a 25% stake in the company. However, according to the Shark Tank Blog, the deal was never closed. Despite this setback, Guzzle Buddy is still in business today with yearly revenues of between $1 and $2 million.
Guzzle Buddy’s estimated net worth in 2022 is $2 million annually. The founders of Guzzle Buddy have a net worth of 4 Million USD as of 2022.
What is Guzzle Buddy and Who is the Founder of Guzzle Buddy?
Guzzle Buddy is a unique wine glass that can be screwed onto an open wine bottle, eliminating the need to pour the wine into a glass and uncork and re-cork the bottle.
The company was co-founded by siblings Randy Rothfus and Jennifer Sullivan, who have known each other since elementary school and are both wine enthusiasts.
Jennifer got the idea for the product after seeing a character on a sitcom drinking wine directly from a bottle attached to a glass, but she couldn’t find such a product on the market.
Together, they developed the concept for months until they created the Guzzle Buddy, which is made of borosilicate glass and comes in nine different designs.
After launching the product on Amazon, they sold out of their entire inventory within days, leading them to transition to full-time manufacturing. Guzzle Buddy debuted in October 2016 and retails for $24.99 on Amazon.
Guzzle Buddy Shark Tank Pitch
During Shark Tank season 9 episode 18, Jennifer and Randy pitched their Guzzle Buddy product in hopes of securing $400,000 for a 10% stake in their company. They gave a presentation and allowed the Sharks to try their product, which received positive feedback.
When Kevin asked about the company’s value, the couple revealed that they had generated over $1.4 million in sales in 10 months due to a viral tweet. The Sharks expressed concerns, and one by one, they dropped out of the deal.
Lori was the final Shark remaining and offered them $400,000 for 20% ownership, which they accepted. However, Daymond retracted his earlier offer and presented them with $400,000 for a 25% stake. They chose Daymond’s offer, but the deal never came to fruition.
Since appearing on Shark Tank, Guzzle Buddy has introduced plastic versions of their product, and numerous knockoffs have entered the market, resulting in slightly lower costs for Guzzle Buddy. The company also offers personalized versions of its product with custom designs.
As of June 2021, Guzzle Buddy is still in business, with yearly revenues ranging from $1 to $2 million.
What is the Net Worth of Guzzle Buddy?
Jennifer and Randy appeared on Shark Tank in search of $400,000 in exchange for a 10% stake in their firm. This equates to a $4 million valuation.
They accepted an offer from Daymond of $400,000 for a 25% stake which brings the valuation to $1.6 million.
The current valuation must be higher than the one they accepted on the Shark Tank since the Company has grown.
Who are the Competitors of Guzzle Buddy?
Guzzle Buddy has numerous competitors in the market, but the one that comes closest to their product is called the Red Solo Cup.
Guzzle Buddy FAQS
What is Guzzle Buddy?
It’s a patented wine glass that attaches to an open bottle of wine through a screw.
How much does Guzzle Buddy cost?
Each one retails for $24.99 on Amazon.
What is Guzzle Buddy made of?
The product is BPA-free, dishwasher safe and constructed of borosilicate glass 100% silicone.
Who is the founder of Guzzle Buddy?
Randy Rothfus and Jennifer Sullivan are the founders.
How much were they seeking in the Shark Tank?
They were seeking $400,000 in exchange for a 10% stake in their firm. This equates to a $4 million valuation.
Did they get a deal from the Sharks?
They got an offer from Daymond of $400,000 for 25% stake.
What happened to Guzzle Buddy after they left the Shark Tank?
Since appearing on Shark Tank, they’ve introduced plastic versions of their products since the show aired.
Many cheap knockoffs have hit the market, and Guzzle Buddy’s costs have been reduced slightly as a result.
When was Guzzle Buddy invented?
Guzzle Buddy was officially launched in 2016.
What is the website for Guzzle Buddy?
The firm’s website is www.guzzlebuddy.com.
How many stores does Guzzle Buddy sell in?
The product sells on Amazon, Walmart, Kmart, Brookstone, and Joyus.
How much money has Guzzle Buddy made?
The judges debated whether the Guzzle Buddy, which earned $1.4 million in revenues during the first ten months of 2017, was worth the investment.
Rothfus and Sullivan put their wares to the test and had the judges sip from the bottle.
Is the Guzzle Buddy real?
The Guzzle Buddy is constructed entirely of borosilicate glass and silicone.
Can the Guzzle Buddy break?
Yes, it is possible for it to break. That is a glass.
Where does their Guzzle Buddy ship from?
They ship from the good ol’ United States of America! To be precise, Portland, Oregon.
How do they clean Guzzle Buddy?
Just put it in the dishwasher top rack overnight, and it’s sparkling clean the next morning.
What methods of payment do they accepts?
The firm accepts Amazon Payments, PayPal, and major Credit Cards.
How can they place an order?
They can order Guzzle Buddies from the official website.
What is Guzzle Buddy return policy?
They are delighted to provide a 30 day return policy. Kindly contact them through email to get a return label.
All product must be returned in the same condition in which it was received, including with the original packaging.
All return shipping expenses are the responsibility of the customer.