What Happened To Copa Di Vino After Shark Tank?
Unfortunately, not all of the most memorable "Shark Tank" companies are memorable for positive reasons. Such is the case for Copa Di Vino, which appeared on "Shark Tank" not once but twice.
Entrepreneur James Martin created Copa Di Vino in 2009, seeing a niche market for single-serve wine. He hoped to partner with wine manufacturers and venues to make premium wine more accessible to customers without a need for bottles, corkscrews, and glasses.
He first pitched his idea to the Sharks in 2011, asking for an investment of $600,000 in exchange for 20% equity. Although Copa Di Vino had made more than $500,000 in sales in just five months, the Sharks wanted to separate the single-serve concept from Martin's wine business — an idea Martin initially heard out but then rejected entirely. He left without a deal, only to return a year later with a revised pitch of $300,000 for 5% equity.
Copa Di Vino tried a second time to reel in the Sharks
After his company failed to land a deal on "Shark Tank" the first time around, James Martin returned a year later to try again. He informed the Sharks that Copa Di Vino was well on its way to making more than $5 million in sales, with so many orders coming in that he needed to build a second manufacturing line.
However, the Sharks still harbored resentment toward Martin's attitude. Mark Cuban called Martin out specifically on his refusal to negotiate a deal, implying that the entrepreneur was still only pretending to hear them out. Ultimately, Kevin O'Leary made another offer of $300,000 for 12%, which Martin countered yet again.
Cuban, O'Leary, and Robert Herjavec tried as a trio, with an offer of $600,000 for 30%, only to have Martin say he didn't understand "what kind of value [they] might be adding" at that price. As expected, the Sharks took a step back from their offer, with Herjavec getting up and leaving the room. Needless to say, Copa Di Vino left the Tank without a deal, so where is the company today?
James Martin didn't need the Sharks' help with Copa Di Vino
Following his "Shark Tank" pitch, James Martin carried on with Copa Di Vino, making about $20 million in sales annually by 2015. In an interview with Oregon Wine Press, Martin admitted that he never intended to make a deal, with his decision solidified when he was presented with offers he thought "weren't attractive."
In 2014, Copa Di Vino partnered with distributor 3G's Vino, expanding into Walmart and other grocery stores, as well as several large sports and music venues. Unfortunately, 3G's founder, Joseph Falcone, was soon found guilty of fraud, having kept more than $500,000 of Copa Di Vino investors' money for himself. He was sentenced to two years in prison and forced to pay nearly $2 million in restitution. As such, Copa Di Vino ended the partnership in 2016.
Despite the legal hiccup, Copa Di Vino was acquired by Splash Beverage Group in late 2020 for $5.9 million. The acquisition pushed Copa Di Vino into more than 13,000 new retail locations, as well as hotels, restaurants, and live event venues.
Copa Di Vino is still very much in business
To no one's surprise, Copa Di Vino is still thriving as of 2023. Today, Copa Di Vino can be found at many golf courses, bars, theaters, and restaurants, as well as large hotel chains like Marriott and Hilton Garden Inn. In addition to Walmart, Copa Di Vino has also landed in Kroger and 7/11, garnering the company a net worth of approximately $70 million.
Copa Di Vino offers several types of wine, including Moscato, White Zinfandel, Pinot Grigio, Merlot, Chardonnay, Cabernet Sauvignon, Sauvignon Blanc, and a red blend. Individual glasses cost $3.49, while variety packs cost $13.96 or $20.94, depending on the wines included.
The company's products are also available to purchase through Instacart and listed (but unavailable) on Amazon. Copa Di Vino is doing extremely well nearly three years after its acquisition by Splash Beverage Group, let alone nearly a decade after its second failed "Shark Tank" appearance.
What's next for Copa Di Vino?
As noted on Copa Di Vino's website, the company is all about promoting a "go-anywhere, do-anything lifestyle." Naturally, we can expect Copa Di Vino to continue expanding into exciting new areas, including additional sporting events, music festivals, and even private parties. After all, wouldn't it be easier for every wedding guest to enjoy their next sip of champagne if they were able to personally choose their glass?
It's likely Copa Di Vino will also participate in more partnerships in the future, as the company has already teamed up with Yeti and RY Outfitters to give away coolers and backpacks. However, in the meantime, Copa Di Vino continues to crush its competition, including fellow "Shark Tank" company Zipz Wine. Zipz was able to strike a deal with Shark Kevin O'Leary but switched over solely to packaging around 2016 and now operates as Zipz Packaging.