Wine tastes better chilled and to get it to the right temperature, you typically need to put it in the fridge for a while. For people that don’t like waiting, you can get instantly-chilled wine with ProntoBev. Alexander Simone pitched his product on Shark Tank and got a deal with Mark Cuban. As of 2023, ProntoBev is worth an estimated $100,000.
About the Founder
Alexander Simone is an inventor from San Francisco and holds a bachelor’s degree in Entrepreneurship from Arizona State University and has worked across different industries.
He started out as an engineering technician at Homewood Suites and a guest service agent at Hilton Phoenix Airport. The San Franciscain had a creative flair and also worked as a graphic designer for CustomFratTanks.com. After this he became a product manager at asterRide and 3AM Projects.
Founding the Company
While in college, Alexander invited a girl over to share a glass of wine! However, the bottle was warm, and he didn’t want to serve it that way. Instead, he took a pasta strainer, filled it with ice, and poured the wine through it.
Although it made the drink cold, it also diluted the flavor, ruining the wine and his date. This awkward encounter gave Simone a brilliant idea. He worked on it for years, combining stainless steel and secret gel technology to make a device that chilled wine in 30 seconds.
The ProntoBev prototype was launched in 2016 under the company Pronto Concepts. A year later, the founder started an IndieGoGo campaign, hoping to raise $25,000 and ended up getting $60,000.
Shark Tank Appearance
In 2017, Alexander got accepted onto Shark Tank but only had one prototype. The confident entrepreneur believed this would be enough to get a deal. Simone appeared on season nine of the show, seeking $100,000 for 5%. A $2 million valuation without having a product ready to sell.
This was a bold move, but the entrepreneur made a very convincing pitch. The Sharks liked the product after enjoying a nice glass of wine, but they were not amused by the valuation.
Wine connoisseur Kevin O’Leary offered $100,000 for 50% of the company, the founder tried to counter but Kevin had no wiggle room. Cuban initially dropped out but jumped back in to invest $100,000 for a 25% stake.
After Shark Tank
After Shark Tank, things haven’t gone to plan for ProntoBev. The product is still in the prototype stage and they haven’t shipped many orders to backers on IndieGoGo. It appears the deal with Mark Cuban never closed as there’s no mention of ProntoBev on his website.
ProntoBev has gone quiet on social media as their last update came back in 2018. In July 2020, Alexander told his IndieGoGo backers that he was working on minor improvements. By now customers are furious and are eager to get a refund.
One Reddit user has spoken out about their horrible experience with the startup, sending multiple emails for a refund but received no response. Nevertheless, the parent company, Pronto Concepts, is still active and is worth an estimated $100,000. Alexander Simone now works as a product manager for makeXnow Inc and lives in San Diego.