Alexander Simone’s brainchild, ProntoBev, stands as an instant wine chiller, showcasing promise in the entrepreneurial arena. With a net worth estimated around $100,000 as of 2023, it garnered attention on Shark Tank during its ninth season. The renowned investor Mark Cuban saw potential and injected $100,000 into the venture for a 25% stake.
How much is prontobev worth in 2024?
Despite this initial boost, ProntoBev’s progress has been marred by challenges. Despite an Indiegogo campaign that raised $60,000, actual sales have not commenced, rendering this sum inconsequential in terms of revenue. Furthermore, the company has yet to fulfill any orders from the crowdfunding initiative, raising doubts about its viability.
In light of these circumstances, ProntoBev appears to have stagnated, failing to materialize as a functional product. However, its parent entity, Pronto Concepts, remains operational and holds an approximate valuation of $100,000.
What is ProntoBev and How Does it Work?
ProntoBev is a revolutionary solution for wine enthusiasts who desire their favorite bottle at the ideal temperature without the long wait. Invented by Alexander Simone and showcased on the 11th episode of Shark Tank season 9, ProntoBev offers the convenience of chilling an entire bottle of wine to perfection in just 30 seconds.
Utilizing patented technology, ProntoBev eliminates the need for traditional methods that can take hours to achieve the desired temperature. Its sleek and stylish design makes it a seamless addition to any setting, whether it’s a special occasion or a casual evening at home.
With ProntoBev, you no longer have to compromise on the enjoyment of your wine due to temperature constraints. This modern wine chiller ensures that every sip is as satisfying as the first, delivering a consistently delightful experience with each pour.
ProntoBev Founder Alexander Simone
Alexander Simone is the visionary behind Pronto, serving as its founder and CEO. This innovative wine cooler company achieved notable success through crowdfunding avenues.
Simone’s journey towards perfecting his invention spanned several years, marked by relentless experimentation and iteration. Despite encountering setbacks with 13 failed prototypes, his perseverance ultimately paid off when he finally achieved success in 2015.
With a functional product in hand, Simone turned to Indiegogo to realize his vision. Through a crowdfunding campaign, he successfully raised $60,000, demonstrating the enthusiasm and support his invention garnered from eager consumers.
What Happened At The Shark Tank?
During his appearance on Shark Tank, Alexander Simone entered the den seeking a $100,000 investment in exchange for a 5% stake in his company. With a compelling pitch, he highlighted the unique features of his product, capturing the interest of the Sharks.
To demonstrate the effectiveness of his invention, Simone offered the Sharks a taste of wine chilled instantly, leaving a positive impression on most of them. He then unveiled the innovative technology behind the product: the patent-pending Pronto Gel, capable of rapidly cooling beverages like wine and coffee within seconds.
Delving into the financial aspect, Simone disclosed that the production cost of the chiller was $22, with an initial selling price of $89 on Indiegogo. Despite this, he expressed his intention to retail the product for $129 each, sparking some concerns among the Sharks regarding its pricing strategy.
As the negotiation progressed, two Sharks opted out, citing concerns over the product’s perceived high price point. However, Kevin made an offer of $100,000 for a 50% stake, which Simone hesitated to accept. Sensing an opportunity, Mark Cuban stepped in with a counteroffer of $100,000 for a 20% stake, which Simone ultimately agreed to, sealing the deal and securing the support of one of the most prominent investors on the show.
What Happened To ProntoBev After Shark Tank?
According to ProntoBev Shark Tank update, Alexander’s deal with Mark Cuban never materialized. As of the time of this review, ProntoBev has yet to deliver a functional product to the market.
Disgruntled investors who supported the venture on Indiegogo have neither received the promised product nor obtained refunds, leading to widespread allegations of scamming.
Upon visiting their official website for a follow-up, we discovered that the ProntoBev website is down. It’s showing “This site can’t be reached” message
Furthermore, there’s mention of another product called ProntoAer, described as a martini shaker, but there’s scant evidence of its availability for sale. While a brief video exists on the product page depicting individuals using it, its market presence remains uncertain.
Although the website claims to have met Mark Cuban’s conditions and remains open to further investments, it appears that the site has not been updated in several years.
A cursory examination of the company’s social media profiles reveals a lack of recent updates. Their official Twitter account, with minimal followers, has remained inactive since 2018. Regrettably, attempts to access their Instagram or Facebook pages were unsuccessful.
Considering these findings, it is reasonable to conclude that the ProntoBev project is either defunct or that Alexander Simone has misled investors regarding the utilization of their funds.
Is ProntoBev a Sacm?
Based on a reddit user’s experience and observations, ProntoBev is viewed as a scam. Despite the poster’s initial interest due to Alexander Simone (CEO) being part of the same fraternity, their purchase four years ago has yet to yield any product. Attempts to seek updates have been met with repetitive assurances of imminent manufacturing completion, but no tangible progress has been observed.
Recent attempts to obtain refunds have been met with difficulties, with the company even offering a free product in lieu of cancellation. However, communication has since ceased, leaving the poster and potentially other customers frustrated and seeking solutions to their predicament. Overall, there is a growing sentiment of dissatisfaction among investors and customers alike regarding ProntoBev’s handling of the situation.
Here’s the update
To sum up, ProntoBev’s inability to bring a functional product to market indicates it is no longer a viable project.
