Kevin Klein and his friend Josh Green pitched their tasty and sweet canned wine, Pie Wine, on Shark Tank Season 15. Pie Wine is a sweet, sparkling wine that enhances its flavor with a combination that pairs perfectly with pizza.
To offer people a new taste experience by pairing wine with pizza and to expand their business, they need the Sharks’ expertise and money. So, did any of the Sharks invest in their business? Let’s find out.
| Company Name | Pie Wine | |
| Founder/Co-Founder | Kevin Klein and Josh Green | |
| Founded | Jan 2022 | |
| Product | OG Pizza Wine | |
| Asked For | $200k for 7.5% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S15 E1 | |
| Air Date | Sep 29th, 2023 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Los Angeles, California, United States | |
| Lifetime Worth (Sales) | $2M *estimated | |
| Valuation | $2.7M | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Two best friends, Kevin Klein and Joshua Green, co-founded Pie Wine in 2022. Kevin is a professional radio host with experience at CBS Radio and KROQ-FM, while Joshua is an entrepreneur and investor.
Additionally, Joshua serves as the CFO and a board member for Survios, an American virtual reality game developer and software publisher.
Business Pitch Episode Recap
Josh and Klein asked the Sharks for $200,000 in exchange for 7.5% equity in their company, valuing it at $2.7 million. They demonstrated their product and explained how Pie Wine pairs with pizza. They introduced their sweet white wine, red wine, and Crisp Dry white wine flavors.
Daymond John asked about sales. Klein explained that they launched the product two weeks ago and have already distributed it to eight states.
They have distributor commitments totaling between $300,000 and $400,000 in wholesale orders and are in talks with 18 other states.
They expect to reach $500,000 in sales within 30 days and project $1.5 million in sales in the first six months, with a goal of $6.5 million by the end of the year.
Josh and Klein explained their backgrounds and their exciting business. Kevin O’Leary commented that it seemed like a side hustle for them. Josh responded by clarifying that it is not a side hustle; they have already invested $300,000 into the business, with a 50/50 partnership.
Candace Nelson asked about the product’s margin and competitors. Josh explained that the current making cost is $1.50, and they plan to reduce it to $1.25 with increased production.
They sell the product to distributors at $3.25, while it retails around $5 to $5.50 in stores like Ralphs and Kroger. Their biggest competitor is Bev Wines, which was acquired by E. & J. Gallo Winery on June 1, 2023.
Kevin O’Leary praised the presentation and acknowledged the growth in the sparkling category. However, he mentioned that he plans to launch his own product in this space, so he is out.
Mark Cuban said that he is an investor in a company named Beatbox Beverages, which achieved $100 million in sales and raised funding at a $200 million valuation in 2023. Therefore, he is out.
Daymond John said that many big players are entering this space, similar to Mark Cuban’s investments, so he is out.
Lori Greiner said that this is an early-stage business and she cannot invest in it, so she is out.
Candace said that it’s a little too kitschy for her and not the space she likes to invest in. She doesn’t think she’s the right target market for the product, so she is out.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Candace Nelson | No Offer |
| Kevin O’Leary | No Offer |
| Mark Cuban | No Offer |
| Daymond John | No Offer |
| Lori Greiner | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | No Deals |
Pie Wine Shark Tank Update
All the Sharks decided not to invest in Pie Wine, so Klein and Josh had to leave Shark Tank without securing funding.
As of August 2024, research on Pie Wine revealed that Warren Ezra is the Chief Executive Officer and Joshua Green is another co-founder and board member. On StartEngine, the company was valued at $10 million, and by the deadline of April 30, 2024, a total of $23,206.77 had been invested by 22 investors.
Check out Shark Tank Season 15 Business Update.
You can see some businesses from Season 15 here.
