Season 6 | Episode 606 | EP606
In Season 5, Episode 6 of Shark Tank, Justin Fenchel, Brad Schulz and Aimey Steadman pitch their product, Beatbox Beverages. Beatbox Beverages is wine based cocktails in a box. The entrepreneurs passed out the beverages to each of the sharks and they were impressed how delicious they were. Each beverage contains 11% of alcohol and 7g of sugar, very similar to that of regular wine. Currently they have done well in the Texas market but they need the sharks to reach nationwide. They come into the tank looking for $250,000 for 10% of their company. In the past 14 months, Beatbox Beverages has made $235,000 in sales.
Barbara offers the owners $400,000 for 20% of equity. Kevin offers $200,000 for 20%. Mark chimes in with $600,000 for 33% equity. The Beatbox Beverages owners are unwilling to give up so much equity and so Mark comes back with $1,000,000 for 33%. Beatbox Beverages doesn't hesitate and they take Mark's offer.
Justin Fenchel, Brad Schulz and Aimey Steadman made a deal with Mark Cuban for $1 Million in return for 33% equity.
Mark Cuban invested in Beatbox Beverages.