Bee D’Vine is a business that produces and sells honey wine. This honey wine is made from spring water and honey, rather than grapes and other ingredients which are normally used for making wine. The honey wine is also then barrel-aged for at least about 15 months.
The product that comes out contains about 17% alcohol, but it varies according to the wine. Bee D’Vine is especially considerate towards the environment as it does not need acres of vineyard irrigation.
Bee D’Vine’s owner, Ayele Solomon, plans to get wild honey from all over the world for his honey wine. This would not only provide employment and income to many around the world but also ensure a continuous and healthy supply of honey for the business.
Bee D’Vine Net Worth
Bee D’Vine’s net worth is estimated to be around $1.85 million after the deal with Shark Tank.
Bee D’Vine Owner’s Net Worth
The owner of Bee D’Vine, Ayele Solomon, has an estimated net worth of around $2 million.
Bee D’Vine During Shark Tank
Ayele Solomon entered Shark Tank seeking $750,000 in exchange for a 20% stake in the business. This meant that Ayele Solomon valued his business at $3.75 million. He presented the Sharks with four samples of wine honey from Bee D’Vine.
Ayele Solomon stated that his business barely made $400,000 in the last few years. However, last year, Bee D’Vine made about $115,000 in revenue selling various kinds of wine honey. According to him, a wine bottle takes only $5 to produce but is sold for about $40 to $50.
The Sharks proposed to Ayele Solomon that he reduce the price to around $15 to attract more customers to the new brand. After this suggestion, Robert Herjavec, Daniel Lubetzsky, Mark Cuban, and Lori Greiner propose a deal of investing $750,000 in exchange for a 40% stake in the business, which would be divided equally among the four investors.
Ayele Solomon accepted the offer, thrilled to be working with the Sharks. Bee D’Vine still operates as of June 2022 and sells different kinds of honey wines on its official website. Honey wine can also be pre-ordered, with a 750 ml costing around $49 while a 350 ml costing around $29.