Shark Tank US | Ghia Product Quenches The Sharks' Thirst

next in the tank is a stylish alternative to boozy beverages [Music] [Applause] bonjour sharks my name is Melanie I'm the founder of Gia I was born and raised in Lyon France and I now live in Los Angeles California I'm seeking 250 000 for five percent equity stake in my company yeah sharks how many times have you wanted to take a night off of booze and the only option at the party was water how many times have you wanted to take a night off of drinking and being asked if you're sick pregnant I'm here to take the word drinking back from alcohol that's why I created Gia Gia is delicious it's fresh bitter complex it has notes of Yuzu Rosemary juicy Riesling grapes and a sharp kick of citrus and it's non-alcoholic there's truly only good things in it Ikea Spritz is the perfect accompaniment to any celebration without a hangover the next morning so how do you drink Gia you can mix it with your favorite bubbles or have one of our ready-made spritzes sharks who is ready to get over the influence with Gia wow how do we drink it I want to try it let's have one together okay so you can have one of our ready-made spritzes this one is mixed with sparkling water this one is mixed with our homemade ginger beer it's my personal favorite and lime and salt is our newest one oh wow that's really how many calories in this uh about 50 in the whole thing in the whole thing Nelly This is really nice I love this one the idea is that it's an alcoholic Amaro like an Italian drink you know akin to a Campari or that's what it reminds me of like a Campari exactly yeah but an all-natural version much lighter and you know exactly what's in it whoa [Music] or and what does it cost you to make yes so we actually just increase our prices and interestingly ourselves have gone up um so our bottle now retails for 38 dollars it has 10 to 12 servings in it and it cost us six and a half dollars to make our Spritz cost us a dollar 25 to make in six months that will be 70 Cents Only and it retails for five dollars let's talk about the business hopefully we're going to hear some great sales numbers last year was our first calendar year and we were 75 online because we were still kind of on the tail end of kovid and we made two and a half million dollars we just launched with an Instagram post that's it and why it took off so did you make any money on that two and a half million last year not yet but we invested very heavily into this year and we have a team how much did you lose last year a little under a million dollars you lost a million dollars well we have a million dollars worth of inventory how much did you raise we had raised um three and a half million dollars and work and we're currently raising 6.5 million sure who did you rate evaluation at three and a half million well the first uh 900 was a safe at um seven and a half million dollars yes first nine hundred thousand that you raised pre-revenue it was everyone I had ever worked for I worked very hard the you know I worked for companies like sweetgreen and Garcia I worked at Goldman Sachs and the people that I'd seen my work before how much do you still own of the business I still own 57 of the business after this six and a half Million Dollar Round wow what valuation is a six and a half Million Dollar Round debt it's a 35 million dollar pre-money evaluation so 41 by our numbers 41 million because that's pre-money versus what sales gonna be this year four and a half doubling next year we have wait I need an alcoholic drink are you kidding and Melanie why are you offering us 250 000 for five percent and if I did the numbers you're giving us a 5 million valuation today like I I'm just trying to understand that conversation with the people you're pitching it to not 40 million yes and then telling them you're giving it to us at five yes well you know this Equity is directly coming out of my shares which is smart good for you I want someone to come in and help me build this into a huge business we launched in the depths of the pandemic so we've already overcome you know a lot of hurdles um currently we're sold in 750 accounts I personally reached out to at least 400 of these accounts myself on Instagram during good for you 2020 there was no other way and I said hey like I'm making this drink your Chef I really admire I would love to send you a bottle please try it and give me feedback I really believe non-alcoholic drinks are the future and every restaurant in a few years will have non-alcoholic menus and I really hope that you'll join me on this adventure Here's my thought about this so I I am I think you're super impressive to raise that amount of money and you're one of the few that came in to show us the value that we had but I unfortunately can't drink this I have acid reflux I want to be in this but I can't because I don't I can't drink this stuff so I'm out well thank you very much listen Melanie you are amazing for me when I invest in something I have to be able to partake in it and unfortunately Damon and I have something similar I cannot eat citrus or bitter things it just affects me and I'm just so sorry about that because I love you I wish you good luck but unfortunately I'm out thank you Lori Melanie the category you chose is one of the hardest ever because it's either expensive to ship them it's expensive to store them it's expensive to get shelf space for them and to keep it getting to 50 million dollars in sales to really have an impact is going to cost you 50 to 100 million dollars and so for those reasons amounts thank you very much look Mark's right you've somehow picked the hardest category to get into and you're killing it Melanie I'll give you the 250 000. and I'll give it to you for the five percent that's my offer do we have a deal wait you may get an offer somebody's actually in this business you're in the wine business I sure am because you know there's no alcohol well you want to hear my offer or not you're gonna get a second off I don't want to argue I don't want to negotiate against other people [Music] for exactly what you asked for if you don't want that offer I'm happy to step out and you can negotiate with Kevin [Music] I feel like it's not fair not to hear everyone out I think that's reasonable is that okay you may not like my office ouch oh I'm giving you exactly what you asked for he's right Melanie he's right I mean at a certain point you got to decide as an entrepreneur why did you come here because I think if someone comes in here and I give them exactly what they're looking for and then they want to hear more I'm not sure where that conversation's going so all due respect I wish you all the best good luck thank you so my offer isn't going to change because what happened here absolutely so I know what I'm worth I also know that I'm in this business and I also know this category and everybody's talking about how difficult it is and they're right but I'm not doing it for five percent I'm too valuable I want ten percent oh your valuation just got crushed oh because I have to get up in the morning and work on this [Music] you can moan and groan all you want have another drink I'm the only shark that is Chef wonderful and Mr Wonderful that's right that's why you should give her you know a million yeah you can say anything you want you're out what do you think Melanie that's true in a position to accept an offer like that without doing wrong to the people that all that happened and she can do whatever she wants you knew that already Kevin I'm doing it for ten percent good for you Melanie thank you Melanie good luck thank you so much good luck bye I walked away without a deal I you know I feel like it was fair to hear everyone out and I took the risk and I don't know if Robert will regret backing out of that offer but you know I hope he lets other people speak in the future I think she made a mistake Robert she should have taken your offer a big mistake rule number one in sales when you get the order Robert what does ABC stand for always be closing thank you rule number two in business never trust campus

Channel: Sony Pictures Television

Views: 597,028

Keywords: Shark Tank, Shark Tank US, Shark Tank USA, Shark Tank America, American Shark Tank, Shark Tank Pitches, Shark Tank bad pitches, Shark Tank Best Pitches, Shark Tank Covid, Shark Tank Season 12, Mark, Blake Mycoskie, Kevin, Lori, Daymond, mark shark tank, kevin shark tank, lori shark tank, daymond shark tank, mr wonderful, shark tank moments, shark tank deals, shark tank pitch, shark tank best pitch, kevin oleary, mark cuban, lori greiner, Barbara Corcoran

Id: R1b7kNAqwOE

Length: 9min 51sec (591 seconds)

Published: Mon Aug 14 2023