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Inventor of Wine by the Glass Turns Down 'Shark Tank' Deal (VIDEO)

by Aimee Deeken, posted Mar 21st 2011 5:00AM
James Turns Down 'Shark Tank' DealOn the season premiere of 'Shark Tank' (Sun., 9PM ET on ABC), James has a "grand slam" invention: wine by the glass. Self-proclaimed "eco-preneur" Kevin O'Leary offers him a deal in exchange for a 51 percent stake in the company. James turns it down and counters with a request for $3 million.

"Forget it. Not a chance," Kevin says promptly. Game over. Kevin is shocked but says, "I'll never remember [the deal] again, and I won't care because there's a million opportunities that will come to me tomorrow. This was your moment. When you turn around, it's gone."

After James leaves, Kevin tells his fellow entrepreneurs: "The guy needed me to get focused on what really mattered ... He's a dead man walking. Just another deal."

Watch the full episode here:

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Mitchell W Seffens

Granted, Kevin is a scumbag! He was not offering 51% for control of the company (Branding) etc.
He was offering 51% for the Licensing to sell the packaging to other wholesalers of beverages. etc.
Still I think the owner of the wine company knew he had good exposure just being there. I think he
will have no trouble building his brand because he attracted other investors just by being in the Tank!

July 29 2014 at 10:54 PM Report abuse rate up rate down Reply
jmcvayjr

He was correct..There are 1000 deals a minute out there this James allowed his ego and "name branding" to get in the way of the greatest deal EVER...His container will be knocked off within 60 days here and 60 minutes in Chine...What a idiot...The guy going to drink the $1000m is doing that because he can...He was showing just how discussed he was with that egomaniac James who had to have HIS "name brand" Not only did he leave the deal of a lietime on the table within 18 months he will be out of his $1,000,000 investment he already has in his product..BYE BYE

March 21 2011 at 6:32 PM Report abuse rate up rate down Reply
stupid bastard

oh and to add to it, he has the balls to say he is going to go home and drink his $ 1000.00 bottle of wine afterwards and forget this guy ever lived??? what makes people think that they are so untouchable and so privileged ?
so i can take away from this lesson that if you are not wealthy, you are a loser?
what a shame.

March 21 2011 at 3:50 PM Report abuse rate up rate down Reply
stupid bastard

i think that this guy was out of his league when it came to making a big business deal.
he is happy in the northwest with his product and can make a decent living from it
with the patent and the wine inside of it. i think that the scumbags on this show are quite
smug and enjoy seeing the little guy sweat. how about taking some of their money and giving
it to the poor rather than playing with people and enjoying it so much.
scumbags, all scumbags.

March 21 2011 at 3:47 PM Report abuse rate up rate down Reply
georgi29

Glad James turned Kevin down. Never give at the most more than 49% of any business. That way you still have control.

March 21 2011 at 2:05 PM Report abuse rate up rate down Reply
N2

ALSO: ITS NOT ABOUT KEVIN'S PERSONALITY OR THE HARSHNESS OF ANY OF THE OTHER MODERATORS. ITS ABOUT THE "NEW" PRODUCT AND THE INVENTORS CHANCE TO BRING IT TO MARKET. BUSINESS IS TOUGH, IF YOU CANT TAKE THE HEAT STAY OUT OF THE KITCHEN.

March 21 2011 at 12:40 PM Report abuse +1 rate up rate down Reply
N2

JAMES HAD A GREAT PRODUCT, BUT THERE ARE A LOT OF GREAT PRODUCTS OUT THERE. HE WAS OFFERED A CHANCE TO "LAUNCH" WITH FULL FUNDING. HE TURNED IT DOWN. HE WAS OFFERED A CHANCE TO NEGOTIATE THE 51% DEAL, HE TURNED IT DOWN. IN THIS MARKET I THINK HE MADE A HUGE MISTAKE.

March 21 2011 at 12:38 PM Report abuse +1 rate up rate down Reply
Hello

I have a feeling that Mr O'Leary new just what he was doing last night. It would be a win win for him either way. He could get the deal HE wanted or wait until he received the many calls the exposure the show has just given him and take the deal that WILL. come. The wine industry is ripe for this. No pun intended.....

I love his idea! I know this will be a staple everywhere before too long. Good wine or no, doesn't matter.


And I agree about Kevin, ew...I usually mute when he is speaking....

March 21 2011 at 12:29 PM Report abuse +2 rate up rate down Reply
njlynn2

Kevin has an ego problem. I would have probably walked away only because of that. Kevin should be told he comes off with the biggest ego. It is truly nausious. If he contines, I will stop watching the show. And I like the show as a whole. I think it is a great idea. Producers.......bring him back to earth. He might be a rich person, but who cares!

March 21 2011 at 12:09 PM Report abuse rate up rate down Reply
kevinbgood621

51 percent is controlling interest . If Kevin gets the right board members they could take over the company and leave the inventor with nothing . You have to really trust someone to give them that power .

March 21 2011 at 12:00 PM Report abuse +1 rate up rate down Reply

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