Intelli-Stopper Net Worth
Intelli Stopper’s net worth before appearing on Shark Tank was 2.5 million USD. The company was valued at $2.5 million during the pitch. Intelli-Stopper’s current net worth is unavailable since the company is no longer operating.
The Hoyts had invested $300,000 in their product but failed to secure a contract on Shark Tank despite investing the money themselves.
What is Intelli-Stopper and Who is the founder of Intelli-Stopper?
The Intelli-Stopper is a wine bottle stopper that includes a red visual indicator to show whether there is air in the bottle. The founders of Intelli-Stopper are Chase Hoyt and his father, Bob Hoyt, both from Tucson, Arizona. They are wine lovers and enjoy wine with their meals a few times a week.
Bob Hoyt owns several hundred bottles of wine in his cellar and has the perfect wine for family gatherings. Although they have beautiful stoppers, the Wine Doctor’s high-tech cork solution is incomparable. The device costs around $33 and pays for itself if it saves one or two nice bottles of wine.
The visual indicator that tells them whether there is any air getting in is helpful because air is invisible. The Wine Doctor is not just a high-tech cork; it also includes a vacuum pump system that removes air from an open bottle of wine.
After that, the “Intelli-stopper,” which is a patented silicon “cork” with a sequence of O-rings that ensures an airtight closure, is used to seal it. If any air leaks into the bottle, a red indicator on the stopper shows that it’s time to pump more air out.
Air is wine’s enemy because too much air can turn a beautiful bottle of Cabernet into harsh vinegar. The Wine Doctor’s suction pump and high-tech cork mechanism claim an open bottle to prevent the wine from changing.
Intelli-Stopper Shark Tank pitch
During the presentation, they requested $250,000 in exchange for a 10% stake in their company, which was valued at $2.5 million. Chase claimed that their technology would revolutionize the preservation of food and beverages, including wine.
They offered the Sharks a glass of wine that had been preserved with the Intelli-Stopper for five days, and the Sharks were impressed with the taste. Chase explained that the red indicator on the Intelli-Stopper showed that there was still air in the wine bottle.
When asked about sales, Chase said they had made $150,000 in 2012 and were on track to sell $350,000 in 2013. However, Kevin O’Leary, Robert Herjavec, and Lori Greiner all declined to invest due to the high valuation of the company.
Barbara Corcoran and Mark Cuban also opted out due to the excessive valuation. Ultimately, Chase and Bob left without a deal.
Despite not securing a deal on Shark Tank, the company continued to try and dominate the market. However, eventually, the company stopped operating.
Net Worth of Intelli-Stopper
The company was valued at $2.5 million during the pitch; since the company is no longer operating hence the company’s net worth is unavailable.
Intelli-Stopper FAQs
What is Intelli-Stopper?
The Intelli-Stopper is a wine bottle stopper that features a red visual indication that indicates whether or not there is air within the bottle.
Who is the founder?
Chase Hoyt, and his father, Bob Hoyt, both of Tucson, Arizona. They like wine in their household. His father owns a few hundred bottles of wine in his cellar and always has the perfect wine for family gatherings.
How much were they asking on Shark Tank?
The company was asking $250,000 for 10% of the company, which would give them a valuation of $2.5 mil.
Did they have the deal?
No, the Sharks did not get the deal.
Is Intelli-Stopper still in business?
No, the company is no longer operating since the pitch on Shark Tank.
Did Intelli-Stopper scam people?
Intelli-Stopper is not a scam. The inventor Chase Hoyt and his father Bob Hoyt pitched their product to a number of investors at Shark Tank but eventually they backed out of the deal.
How much is the company worth?
It’s still unknown, even with the company cease operating.
What is Intelli-Stopper Shark Tank Episode?
The Shark Tank episode was episode number 25 of Season 5.
What is the purpose of Intelli-Stopper?
The Intelli-Stopper is a wine bottle stopper that features a red visual indication that indicates whether or not there is air within the bottle.
Was Intelli-Stopper works?
According to Chase, Intelli-Stopper technology will redefine and revolutionize food and beverage preservation.
Where is Intelli-Stopper made?
Intelli-Stopper is made in Tucson, Arizona.
What is the product life cycle of Intelli-Stopper?
The Intelli-Stopper is no longer in operation after the episode aired on Shark Tank.
How longer was wines takes after opened when using Intelli-Stopper?
Wines take longer to be opened when using Intelli-Stopper.
What is the annual revenue of Intelli-Stopper?
According to Chase, the company made in excess of $150,000 in 2012 and that they are on schedule to sell around $350,000 in 2013.
What were the estimated expenses and revenues of Intelli-Stopper?
It’s still unknown, even with the company cease operating.
Is Intelli-Stopper good for investment?
The Intelli-Stopper is no longer in operation after the episode aired on Shark Tank.
What are the benefits of Intelli-Stopper?
The Intelli-Stopper is a wine bottle stopper that features a red visual indication that indicates whether or not there is air within the bottle.
Where can I buy Intelli-Stopper?
Customers cannot buy Intelli- Stopper. It was an idea concocted by two curious Tucson, Arizona residents who were desperate for an easy way to prevent their wine from turning out too quickly and too old.
Who are the competitors for Intelli-Stopper?
Intelli-Stopper has no competitor as yet.
What is the annual revenue of Intelli-Stopper?
It’s still unknown, even with the company cease operating.
Is Intelli-Stopper patent pending?
No, it’s not.
How was the business model of Intelli-Stopper?
Intelli-Stopper is an interesting concept with a brilliant design, but the company name and its product are so generic that it’s unlikely that any buyer would find it attractive as a purchase.
Is Intelli-Stopper planning to resume?
Intelli-Stopper is no longer in operation after the episode aired on Shark Tank.
Is Intelli-Stopper available online?
No, it’s not.
What is the net worth of Chase Hoyt?
Chase Henry Hoyt net worth is $6 Million.
