On a recent episode of ABC's 'Shark Tank,' husband-and-wife duo Whitney and Chaz Gates revealed that their Black-owned wine label Wondry had caught the attention of billionaire investor Mark Cuban. The couple secured an investment of $225,000 from Cuban for a 15% equity in the firm, at a time when Wondry Wine's total revenue was just $250,000. This partnership marked a turning point for the company, propelling it into the spotlight and setting the stage for exponential growth.
Wondry took off in 2022 when it dazzled Mark Cuban on “Shark Tank.” Since then, the Gates duo has launched a Shark Tank Collection, featuring a curated selection of their finest wines. Cuban's investment in Wondry Wine is part of his larger commitment to supporting Black-owned businesses, with approximately $2 million invested in such companies through the popular reality show.
Following their appearance on 'Shark Tank,' Whitney and Chaz Gates experienced overnight success with Wondry Wine. The couple-turned-founders have expanded their retail presence beyond Texas, thanks to a 10-year distribution deal with Southern Glazer's. This strategic partnership has allowed Wondry to reach a wider audience and establish itself as a prominent player in the wine industry.