Zipz Wine Net Worth

In 2014, Zipz Wine got featured on Shark Tank. Andrew McMurray, the founder of this company, was looking for a substantial investment to help him expand his business. He asked for $2.5 million for 10% of the company at a $25 million valuation. This was one of the largest investments on the show that had ever been made by a single investor. During the pitch, McMurray impressed the sharks with his innovative product and its potential for success.

After a lot of debate, the sharks backed McMurray. Eventually, Kevin O’Leary made Zipz Wine’s deal official, saying that the company could do very well if it found a way to sell its products at Costco. O’Leary also added that he was willing to give them an additional $2.5 million if the company reaches certain milestones.

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During the episode, Andrew McMurray explained that Zipz Wine was a portable glass that can be filled with wine and sealed shut. He said that this prevents the wine from spilling and keeps it fresh. In addition, he said that the portable glass has a sturdiness that allows it to be used on any surface.

The product is currently sold at 1200 stores in the United States. It is also available in stadiums and sports arenas. Zipz Wine has been able to generate $650,000 in revenue each year since its inception. In an episode of “Beyond the Shark Tank,” Andrew McMurray reported that the company is now focused on licensing their wine packaging.

Andrew and his partner, J. Henry Scott, were both involved in other businesses prior to starting Zipz. They wanted to develop a portable, convenient, and superior container for wine. The first designs were based on a water bottle, but they were soon improved with the addition of a wrapping to prevent leakage. Scott has a degree in engineering from Rutgers University and an MBA from the University of Massachusetts Amherst.

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The Zipz Wine net worth is around $1 million. The company is still in operation, although it has stopped producing wine and is focusing on licensing their packaging for other wine companies. Its successful appearance on Shark Tank has helped to boost its reputation and make it a household name. The brand is also a popular choice for outdoor events, including weddings and parties. In the future, the company may expand its line of products to include beer and other beverages.