Copa Di Vino founder James Martin is not bothered by the truth that the “sharks” of ABC’s “Shark Tank” do not have fond memories of his two infamous appearances on the hit entrepreneurial reality show.
That is mainly because, in spite of walking away from the sharks’ delivers twice and getting known as one of the sharks’ most disliked inventors, Martin’s solution is 1 of “Shark Tank’s” most thriving.
“We all know the sharks blew it and missed out on the greatest opportunity they ever had — which was me,” James Martin told ABC News.
Watch the complete story on ABC News “20/20” — “Shark Tank on 20/20” — THIS FRIDAY at ten p.m. ET
Martin created Copa Di Vino, an on-the-go beverage with a portfolio of seven distinct kinds of wine that come in a patented, single-serving, plastic container with a pull-off and resealable lid.
Martin’s Oregon-primarily based, family members-owned winery struggled for years before creating a profit. When the opportunity arose to appear on the second season of “Shark Tank” in 2011, Martin jumped at the possibility. He asked the sharks for $600,000 in exchange for 30 % of his small business to assistance make far more inventory.
At first all the sharks expressed interest and quickly began making presents, including Shark Kevin O’Leary, who went on to launch his personal wine label, O’Leary Fine Wines, in October 2012.
“[The container] that’s under no circumstances been accomplished in wine before, and I grant him that was a fantastic move,” O’Leary told ABC News. “The issue with him … is he attempted to sell me … on a winery. Now, I’m in the winery business enterprise. That is a bad business enterprise.”
O’Leary wanted Martin to separate the patent for the Copa Di Vino container from the wine itself so he could concentrate on licensing the container’s technology to other winemakers, but Martin would not budge.
Other sharks pitched offers, but as Martin continued to turn down gives, they became significantly less interested with his arrogant attitude. The sharks also commented that Martin seemed to be sweating profusely all through his pitch. Martin mentioned he was sweating due to the fact he became also hot below the Tv lights in his turtleneck sweater.
“I started melting and under the stress of Kevin O’Leary trying to split my enterprise into two, I truly started to melt,” Martin mentioned. “For me, all I was trying to do was figure out how to get a taxi to get me out of here. … You see about ten minutes of the exchange but I was truly out there beneath those lights for 45 minutes in that stress of the tank, in the pressure of five different entrepreneurs who are pretty, extremely intelligent all firing queries at you, at times two or three at the identical time.”
In the end, Martin brushed off the sharks’ assistance and left with out accepting any presents.
But soon just after his episode aired, Martin mentioned he received many gives from men and women wanting to invest in his company and Copa Di Vino took off.
“Shark Tank” producers took notice of Copa Di Vino’s accomplishment and provided Martin a uncommon second opportunity to go “back in the tank.” He re-pitched the product to the sharks the following year. By that time, Martin stated Copa Di Vino had gone from $600,000 to $5 million in sales in just 1 year.
“I had a hate for Kevin O’Leary at a level that wasn’t healthier at all and my opportunity to come back was also my chance to get the final word in and say, ‘Look, you blew it, but I am also gracious adequate to give you a second chance,’” Martin told ABC News.
But once again, Shark Barbara Corcoran mentioned she didn’t appreciate what she said was Martin’s “coy” attitude. “We didn’t respect him either,” she said.
The standoff among the sharks and Martin went into its second round when neither side budged on the very same point they had been stuck on the initial time about. And seemingly as an alternative of operating with them to make a deal, Martin just kept taking sips of his wine.
“The second time he came on he stood out there, and he knew we all have been interested, and he was trying to be as well cool, also intelligent … pondering like he’s the man,” stated Shark Mark Cuban. “It was a lot of dollars. We were negotiating. And he’s like, ‘I’m going to take a sip.’”
“I believe in the second a single he forgot his location,” added Shark Robert Herjavec. “He is not the shark. We’re the sharks.”
Even though Martin walked away, once again, without the need of any of the sharks’ investment, the likelihood to promote his product on national television twice had contributed to massive payoffs.
To date, Copa Di Vino has sold 38 million cups of wine in places ranging from local comfort shops and supermarket chains to Marriott hotels and sports arenas and stadiums, and the business claims to have created $12 million in sales in 2016. The brand has also expanded to include Copa Di Vino range packs, t-shirts, beach coolers and even an “outdoor patio bar.”
“I did not need the sharks. They needed me,” Martin said. “They required a truly, definitely effective brand that went everywhere and they did not get it for the reason that they got greedy.”
The sharks, having said that, really feel differently. All agree they have no regrets about passing on Copa Di Vino.
“Could you imagine dealing with him on an ongoing basis?” Cuban mentioned.
“He would ruin our lives, our delighted lives,” Corcoran added.
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