Zipz Wine is a company that was founded in 2014 by popular entrepreneur Andrew McMurray. The company produces one-serve, shatter-proof, pre-filled glasses of wine. Zipz wines are offered in some of the best restaurants across the nation and are accessible nationwide.
To increase activities and meet demand, Zipz has secured more than $20 million in private funding. They sell Cabernet Sauvignon, Chardonnay, Pinot Grigio, Moscato, and two other varieties of wine. Four pre-filled glasses, valued at about $3 each, are contained in each box. The business has experienced tremendous growth in recent years and is presently thought to be worth about $30 million.
Quick Facts
| Founders name: | Andrew McMurray |
| Business details: | Wine Industry |
| Founded in: | 2012 |
| Location : | United States |
| Asking of Company: | $2.5 million for 10% |
| Accepted Deals: | Yes, deal accepted |
| Sharks on board (Investors): | Kevin O’Leary |
| Shark Tank Episode: | Season 6 |
| Net Worth | $5 million |
| Business Status: | Unknown |
| Last Updated: | April 05, 2024 |
| Social Media |
Breakdown Of Zipz Wine’s Net Worth
Zipz Wine is a leader in the smaller-format wine industry, providing single-serve, resealable glasses of wine. So, what is the net worth of Zipz Wine? Currently, Zipz Wine is estimated to have a net worth of close to $50 million. This number is based on the company’s success in the self-contained wine glass arena, where its products are sold in supermarkets, convenience stores, and other retail outlets across the United States.
The company also achieved success with its mini-bar packaging strategies by tying in with venues like MGM Resorts and Caesars Entertainment. This strategy has allowed them to expand their reach to additional business sectors while giving them more access to potential partners who may be interested in using their product packaging for their own businesses.
Finally, Zipz Wine has been able to generate additional financial gains through its “Crowdtap” platform, which allows users to rate and review their products as well as receive personalized offers from the company. In addition, the company has also leveraged its website for direct sales of its products. With all of these factors taken into consideration, it’s no surprise that Zipz Wine’s net worth accounts for its current value of approximately $50 million.
Key Factors Behind Zipz Wine’s Net Worth
Zipz Wine has become a household name thanks to its innovative, single-serve wine bottles. With this product, and the rest of the Zipz Wine lineup, comes an impressive net worth. What are the key factors behind Zipz Wine’s worth?
- Multipack Advantage
Zipz Wine’s multipack wine bottles provide convenience and portability to consumers. This innovation effectively cuts down on wasted packaging for consumers who want just one glass of wine at a time. The multipack also allows consumers to conveniently purchase multiple bottles of wine from one source and makes it easy to transport them wherever they need to go.
- Ecological Design and Packaging
The single-serve bottles used by Zipz Wine are not only convenient and practical but they are also designed with environmental friendliness in mind. The bottles are made with recycled materials, making them both environmentally friendly and cost-effective for consumers.
- Accessibility and Convenience
Zipz Wine packages are available in various sizes and configurations. This allows for flexibility when it comes to meeting different dietary needs or budgets. In addition, Zipz Wine is available online from various retailers and through the company’s website, making the product even more accessible and convenient for customers.
By leveraging these factors, Zipz Wine has achieved a net worth that is both enviable and well-deserved.
FAQs
1. Is Zipz Wine still in business?
Although the business kicked off with a bang, reports from Shark Tank Tales suggest that the business stopped in 2019. There are no reports about the recurrence of the wine business yet. And, as of 2021, the business’s website has been pretty dormant as well. There are no clear indications as to what contributed to the business’ downfall.
2. What was the Zipz deal on Shark Tank?
During their appearance on Shark Tank in 2014, Andrew McMurray, who is the founder and Vice president of the company Zipz Wine managed to secure a pretty sweet deal of $2.5 million for the company. Although the sharks found the business profitable at the time, it isn’t functional anymore.
3. What contributed to Zipz wine’s popularity?
The main attraction of the brand that set it out from the other competitors was the packaging scene. Even the sharks found the concept pretty unique, which was the main reason why they managed to grow their business so significantly and so quickly as well.
4. Who invested in Zipz wine on Shark Tank?
The main investment for Zipz Wine on Shark Tank came from Kevin O’Leary, who was pretty impressed with the product idea and the whole concept and wanted to be part of the venture.