Back in Season 8 of Shark Tank, Texas-native Doug Foreman proposed the Biem butter sprayer to the sharks. The company is named after the device that, according to Doug, lets you turn any stick of butter into a spray that you can use for anything from grilled cheese to popcorn. After raising more than $235,000 from 1,700 backers from Kickstarter at the time, Doug was ready to ask the sharks for $500,000 for 5% equity. Let’s see what Doug’s been up to after Shark Tank in our Biem butter sprayer update.
Shark Tank Biem Butter Sprayer Update
- Entrepreneur: Doug Foreman
- Business: A device that can turn any stick of butter to spray
- Ask: $500,000 for 5% equity
- Result: $500,000 for 14% equity
- Shark: Lori Greiner
Doug Foreman’s pitch of Biem could not have gone any better. All the sharks agreed that the butter sprayer was a unique product in an industry that had a lot of income potential. Doug believed this too, which is why he claimed that he projected that Biem was going to make $10 million in revenue the next year.
The sharks were instantly interested, and Daymond John was the first to make an offer. However, Daymond did not like Doug’s initial valuation of the company and offered $500,000 for 17.5% equity. After this, Lori Greiner questioned Doug about any problems he might have had while developing the product, all while Daymond continued to press him for answers. In the middle of this, Kevin O’Leary jumped in to offer Doug $500,000 for 15%, which Daymond matched quickly.
Robert Herjavec was the next shark to have his turn with Doug. He asked if Doug could come up with a cheaper model. On the other hand, Lori proposed a more premium variant. Doug then answered Robert’s question and explained that removing the stainless steel shell could make the Biem weigh less and cheaper to make.
Lori then proceeded to offer John $600,000 for 20% equity, followed by Robert’s offer of $500,000 for 10% equity. Just like that, Doug found himself with four offers at the table. However, Daymond was starting to get impatient and eventually took his offer out. Doug also lost another offer after saying that he wished to get a deal with Mark Cuban, who never ended up making an offer.
After losing Daymond and Mark, Doug eventually accepted Lori’s offer, negotiating her to a lower equity ask of 14% for $500,000. Considering that Doug landed a deal with the Queen of QVC, you’d think that we’d have good news in our Biem butter sprayer update. Unfortunately, that is not the case.
The Biem butter sprayer was a colossal failure. It didn’t take long for the product’s appearance on Shark Tank to reveal loads of problems with the product and company. Many customers reported not receiving the product after ordering, and many of those that did end up receiving the butter sprayer but alleged that the device was not working as intended.
From there, the problems just escalated. The company failed to address the issue with the faulty products, and instead of refunding consumers outright, Biem promised to replace the old model with a V2 version. Although the idea for the product seemed great at first, many consumers who got their hands on the V2 version of Biem butter sprayer talked about how much of a hassle it was actually to use.
That’s as much as we know at the time of writing, there hasn’t been an official Biem butter sprayer update from the company for a while now. All of its products, except for the battery and charger, have been sold out for a long time.
Before you go, be sure to check out some of the other Season 8 Episode 4 company updates:
For more on Shark Tank Season 8, be sure to check out our Season 8 Products page.