In order to persuade the Sharks to try his invention, Eric Corti introduces the Wine Balloon in episode 304. Corti and his wife occasionally have a glass of wine, but they rarely consume an entire bottle at once. Many wine aficionados, including the Cortis, find it frustrating to waste expensive wine by allowing it to deteriorate in the bottle. Eric Corti developed a remedy. He disassembled a blood pressure cuff and, using the pump and tubing, invented a brand-new, straightforward method for “corking” wine. The balloon fills the empty space in the bottle, preventing air exposure from tainting the wine.
Before Shark Tank
Every once in a while, Eric Corti and his wife like to unwind, unwind and enjoy a glass of wine. They do not, however, have the capacity to consume a whole bottle of wine at once, and wine aficionados are well aware of how difficult it is to preserve an opened bottle. The emphasis was on Eric to find a solution to their issue because both he and his wife were getting sick of throwing away pricey bottles.
After some consideration, Corti devised the ideal method for maintaining the freshness of a bottle of wine after it has been opened. He took a blood pressure cuff and disassembled it to put his theory to the test. He then placed the new contraption inside the wine bottle and connected a balloon to it. He achieved the ideal seal to shut off all access to the oxygen in the bottle by blowing up the balloon with air. The couple decided to invest in Eric’s invention so that they could start a new business together after his wife tried it and confirmed that the wine kept fresh long enough for her to complete the entire bottle.
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Despite making a few sales on their own, the Cortis ultimately came to the conclusion that they would require assistance if the Wine Balloon was ever to achieve any genuine success. They, therefore, brought their product to the Shark Tank in the hopes of striking a deal with a shark. They would then be able to secure the financial support and marketing connections that their company requires.
During Shark Tank – Wine Balloon Investment
Eric Corti requested $40k on the Shark Tank in exchange for a 30% ownership part in his company. He makes his offer to the Sharks and then launches into his pitch. He claims that while many individuals would want to enjoy a glass or two of wine with dinner, they choose not to indulge since they know that the remainder of the bottle will most certainly be wasted. They have put a lot more wine down the drain than they have into their wine glasses, even he and his wife could admit that. He contends that this is due to the fact that all wine preservers currently in use are ineffective.
His Wine Balloon enters the picture here. Any opened bottle of wine will remain fresh long enough for someone to finish it thanks to his unique method of preservation. By placing the balloon into an open bottle of wine and squeezing the cluster of grapes at the product’s other end, Eric shows how the device functions. Fill the balloon to the point when it contacts the glass bottle’s interior walls.
He can even turn the wine bottle upside down since it is so airtight. While doing so, he displays that the wine and only a tiny air bubble are still in contact. And to relieve the pressure when the potential wine drinker is ready to utilize the bottle once more, they only need to turn the tiny valve on the Wine Balloon’s other end.
During Shark Tank Pitch:
Quickly, Lori Greiner inquires as to whether Eric has a patent on this particular product at the moment. He thinks that the patent will soon be approved even if it is still pending. On the other side, Robert Herjavec wants to examine the object more closely. Kevin O’Leary asks what kind of material the balloon is made of as Herjavec tests it out himself. Medical-grade latex, which is what makes up the Wine Balloon, has been tested and shown to not alter the flavor of the wine. Additionally, it can keep the wine fresh for around 3 or 4 days after opening.
When Eric is out managing construction projects, he writes down the majority of his prospective innovations in a notebook. He has put around $65k into this product, which is the only one that has so far materialized. They started out selling on a modest scale around six months ago, and since then, 700 pieces at a $22 retail price have been sold. Even while it only costs $6.50 to make in total, O’Leary notes that he could produce a lot of them at $2 each. He makes the decision to offer Corti the $40k, but only if he agrees to take his product and sell it to the leading wine preserver business so that they may receive a royalty on it. Greiner, though, has a counterproposal. She intends to buy him out for $500,000.
Corti doesn’t appear to be that sold on this specific sale, but Mark Cuban intervenes and joins Greiner in putting forward a deal of $600k for all of his company. Cuban tries to induce haste by insisting that he accept the offer immediately in order to close the deal, but Corti counters that he also wants a 3 percent royalty on their sales in addition to the $600,000. O’Leary commends him for doing this and says that he is “saving his future,” but Greiner and Cuban both turn down his request. However, Corti remains persistent, and as a result, Cuban is forced to withdraw the offer.
Greiner chooses to return to her original offer now that Cuban is out. At least until Cuban accepts her $400k offer to move back in with her. Daymond John and Herjavec have both chosen not to make an investment, leaving Corti with two options. Eric succumbs to the pressure and chooses to sell his entire business to Greiner and Cuban for $400,000.
The Wine Balloon Now in 2022 – Recent Update
Things didn’t exactly go as planned once Eric and the Sharks left the screen. He walked away and chose to explore marketing his product on his own rather than signing a contract and accepting payment for $400k from Lori and Mark. All of her efforts paid off when she managed to get him and his goods onto another reality TV program, where he formed a collaboration with two other individuals in the food sector. The Wine Balloon was rebranded to The Air Cork once this agreement was established, along with other package changes that improved its appearance on store shelves.
The Air Cork has drawn a lot of attention and has been enormously popular since performing on both shows. The preserver is marketed online and in retail stores in addition to being purchased in bulk by numerous wineries and vineyards. Since the company’s founding, they have developed a wide range of new designs and even formed a blog to document its experiences.
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The Air Cork is now sold out on their website and has a backlog of orders. The following link will take you to Amazon.com where you can still buy it. Since there aren’t many left, you should try to buy one as soon as you can if you want to get your hands on one.
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