Wine Balloon/ Air Cork Update

Wine Balloon On The Shark Tank Show

Air Cork Wine Balloon - Season 3 - Episode 304
wine balloon air cork on shark tank season 3
Eric Corti Inventoer of the
Wine Balloon / Air Cork
  The Wine Balloon which has now been re-named The Wine Cork is one cool invention that all wine connoisseurs are going to love. Eric Corti first entered the Shark Tank last year in the beginning of season 3 and in episode 304, asking for a $40,000.00 investment in exchange for 30% equity in the air cork business. Without a doubt Eric made a huge impact on the Sharks as well as many Shark Tank Fans around the country.

Lori Greiner was interested in getting this product on her QVC Show but was more interested in buying the entire company and the patent pending on the wine balloon. Lori offers Cori $500,000.00 for the entire business. Mark Cuban also sees the potential success of the wine cork and wants to go in on Lori's deal. He'll even up the ante another $100k and make it an even $600k for the wine cork business that's 15 times the money Eric was originally looking for.

The offer by the Sharks Stunned Eric



 After lot's of indecisiveness, Eric almost seems ready to accept Lori and Marks offer, but he wants a 2% royalty on any future profits. That seems reasonable to me, but it's enough for Mark Cuban to withdrawal his offer. Mark comes back into the negotiations after the other Sharks are out, but this time his offer drops $200k down to $400k and still no royalty. Incredibly Eric accepts the offer even though he just lost $200,000.00 in a matter of minutes.

Wine Cork after the Shark Tank Update

 Whatever Eric Corti was thinking the Shark Tank might be like before he approached the Sharks, without a doubt, the reality was much different than he could of ever imagined. Fortunately for him, but not so fortunate for the Sharks, Eric decided to back out of the deal and pursue marketing the Wine Balloon/ Air Cork on his own. This is a very valuable lesson for all future Shark Tank Contestants. Would you be willing to sell your entire business and/or product that you have worked hard to get it to that point?

Even though the deal fell apart Eric remained in control of the Wine Balloon's business and soon was featured on another Reality TV Show The Kitchen Inventors from the Food Network Channel. The two hosts of the show, Steve Greenberg and Patrick Raymond, absolutely loved the Wine Balloon and agreed to partner with Coti. Steve and Patrick are the ones that came up with the wine balloons new name, The Air Cork,  as well as the re-packaging to make it more appealing on the store shelves.

The Air Cork's gone on to become wildly successful since being featured on two reality shows in such a short amount of time. Several large wineries and wine stores continue to place bulk orders for the Wine Corks unique ability to preserve opened wine no matter how much is left in the bottle.

Order Air Cork The Wine Preserver 

Comments

  1. Anonymous5:30 PM

    Glad to hear that he backed out, Mark and Lori were about to rob him.

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    1. No kidding. I thought he would have raised enough interest just by being on the show that he would have attracted better investors. I thought Lori and Mark were completely out of line on this one. Mark portrays himself as wanting to not screw the company, but in this case he got too greedy and looked like an a-hole about it. if I was Cuban, I would have just offered him $200K for 40% of the company and let the retain control and most of the ownership in his own company. the guy was undervaluing his product/company in the first place.

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    2. Yes, I saw the rerun of this episode last night and was incensed. Lori has always been my favorite and I have bought a few of her products. I know business is business, but she and Mark Cuban were way too heavy handed with this guy! It really was robbery and I found myself dumbfounded because he accepted their low-ball offer. I was delighted when I read that he reneged. Shame on them. It will be a long time before I buy another Scrub Daddy. Fair is fair and this was too heavy-handed for my sensibilities.

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    3. If he would have had a sob story and was a struggling housewife trying to sell towels with a slit in them, Lori would have thrown money at him AND offered a royalty. That's the truth.

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    4. sharks were unusually greedy, and missed out, because had they given him a 2% royalty, they would have closed the deal, inventor would have been happy and stuck w/ the deal, and sharks probably would have made their best deal of the ST show.

      the guy was a moron in agreeing to 400k. lucky he had time to wake up and back out. glad to see things turned out.

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    5. Love the sharks but I am happy to read he backed out of that deal. Seems he didn't need their investments after all. Besides, HE put the time and effort into creating HIS business and deserves ALL of the profits from the blessings he's receiving.

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    6. I AM SO HAPPY TO HEAR THAT ERIC BACKED OUT OF THAT HORRIBLE, HORRIBLE DEAL! I am a fan of Mark and Lori, but I have to tell you, I was so disappointed that "they" shorted him of his deal, they knew better and they got exactly what "they" deserved.....NO DEAL.

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  2. Anonymous11:29 AM

    Great Idea. I have one and love it

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  3. The Wine Balloon which has now been re-named The Wine Cork is one cool invention that all wine connoisseurs are going to love. wine buy online

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  4. Anonymous3:49 AM

    I am so happy that you backed out of the deal. Good for you. I am disappointed with Lori. Normally she's fair. But this instance she she became a 'thief'

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  5. Anonymous1:20 PM

    I was so annoyed when this guy went for the 400k after losing 200k of the deal already, but in truth it's better to say yes on the tank, because then you have the opportunity to think it over in peace and go on negotiating. If you say no there's no chance to negotiate. This time the guy was smart and backed out when the heat had died down, and good for him!

    In the show nobody mentions the effect potentially appearing on the show has even without a deal (must be under contract) so the sharks try to take advantage of that.

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  6. Anonymous7:05 PM

    I just watched the show and was angered at how Lori and Mark tried to steal his company. Great to hear he backed out and made the business a success. Take THAT you greedy sharks!

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  7. Anonymous9:28 AM

    Happy to hear he turned down the offer. This is a great idea that is going to be much bigger than $400K

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  8. Anonymous10:39 AM

    Seriously…how is offering $600,000 "greedy" or "stealing the company?" He put a $133,333 valuation on his own company and they offered 4.5 times that for a buy out, yet HE wanted MORE because he had Kevin in his ear telling him there should be a royalty. Looks like he was the greedy pig, not the Sharks.

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    1. He has a right to be greedy since he was the one that came up with the idea, spent money on prototypes, testing and tooling for the product. He was actually asking for too little. If I was him, I would have just asked Mark or Lori for $200K and given up 40%. That would have given him the.$500K valuation Lori and Mark put on it and he would have given a decent percentage of the company to the investors.

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    2. I dont think he was being greedy at all,he invented it!Lori and Mark wouldnt have offered 600k unless they knew they could make millions off of it.I was shocked watching them play him so bad he thought he had choice but to accept..Imagine had he taken offer then found out that they sold the idea for a few mill plus 5 % royalty to boot!.

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  9. Anonymous8:12 PM

    The sharks were the thiefs, offering $600,000 and then bullying the guy into accepting $400,000 which is chump change for them. He is more than likely going to become a millionaire with this and remain in control of his business and feel much better than he would have if he sold out to the bullies.

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  10. Anonymous12:16 AM

    Mark and Lori were total jerks on this episode....though i feel Mark is always an arrogant jerk, I'm so tired of them saying...take the deal right now or i'm out and not leaving any time for the person to think about this huge decision! The sharks really piss me off sometimes. So glad to hear Eric backed out of that crap deal!!!!!
    good for you Eric!

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  11. Anonymous7:19 PM

    I just watched the show and was angered at how Lori and Mark tried to steal his company. Great to hear he backed out and made the business a success. Take THAT you greedy sharks!

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  12. Anonymous7:11 AM

    Lori is usually so grand and fair but this time she was terrible and she clearly bent to the wishes of Mark Cuban - yikes!!!

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  13. Anonymous6:31 PM

    I am so glad Eric Corti backed out on the deal. He worked so hard on this and he desirves to be the one who profits.

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  14. Anonymous7:24 PM

    J UST watched this episode if this is going to be the way the show is going to go IM OUT . Not allowing inventors to enjoy the real success of their invention by being a partner with a shark. The producers better think this over that's crap.

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  15. Anonymous10:10 PM

    Mark and lori WOW THEY HAD HIM SO NERVOUS,I FELT FOR HIM

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  16. Anonymous12:12 AM

    I am so happy he backed out of the deal. Sharks are just greedy.

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  17. I agreed with Mark Cuban...that money could go a long way..like the mike said he carried a book of notes and im sure the money could go a long way..think about it..he walks into shark tank for $40,000..but had a shot at $600,000..no sweat no tears...done!"..lmao..i would have shaked there hands and grabbed the cash.

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  18. ....Even more disturbed by Mark's question to the "slit in the towel" lady if she would attend a business meeting on her children's birthday. Would he have asked a man the same question??? Perhaps an "unintended" gender bias question??
    Doesn't really seem like Mark Cuban's style..........he seems like quite a decent guy.

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  19. Just saw a rerun of the show and was incensed by how Lori and Mark attempted to rob this man of his hard work. So glad to read that he backed out of the deal and gone on to be successful.

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  20. I am glad that Eric backed out of the deal. One of those rare moments that I was angered by how the sharks handled this!

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  21. I was angry Mark and Lori tried to steal Eric's company. Lori knows a hero and she and Mark tag teamed to screw him. Sooo happy to hear he came to his sences and backed out. I read it's been renamed and is wildly successful.Shame on those greedy sharks and you go Eric,you got exposure and kept all your company.

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  22. Anonymous9:31 AM

    I would have taken the $600K and be done with it and on to something else. Time invested and paid out. No more time,thought or sweat put in to it.

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