Biem Butter Sprayer is a brand that makes a product that transforms butter instantly into a sprayable substance. Doug Foreman is the founder of this company. Originally from Texas, he participated in season eight of Shark Tank and introduced the Biem butter sprayer.
|Company Name||Biem Butter Sprayer|
|Product||Liquid butter sprayer|
|Shark Tank Deal||$500,000 For 14% equity|
|Biem Butter Sprayer Net Worth||$10 million (Last Updated 2022)|
Biem Butter Sprayer Net Worth
When the Biem Butter Sprayer appeared on Shark Tank, it was valued at $10 million. By 2022, it is unknown what Biem Butter Sprayer’s net worth is.
Biem Butter Sprayer Overview
Biem Butter sprayers are designed for melting butter bars by placing them in the sprayer in order to heat them to melting temperature. After that, the sprayer spreads the butter out.
Using hot air, it turns room temperature or cold butter into a spray of liquid ideal for cooking and baking. Not all of the butter is melted, only the amount of butter that is needed is melted.
This spray has a cool outer surface, with just enough heat inside to melt butter without burning it.
Biem Butter Sprayer Founder’s Story
Biem Butter sprayers were founded by Doug Foreman, who realized there was an overuse of butter. Biem Butter sprayers were developed to prevent waste. After he made the sprayer, he realized it was useful for various products, made the taste better, and used less butter.
For mass production of the Biem Butter sprayer, Doug used crowdsourcing. Investors were attracted to it because it was full of perks. After appearing on Shark Tank, Doug raised $235,000, more than six times what he expected.
Doug Foreman is an inventor and entrepreneur, whose companies include Guiltless Gourmet (which was sold for about $500 million) as well as Beanitos. Biem Butter is his most recent company.
Currently, Doug is Austin Automation’s CEO. Having worked in the foodservice industry for over forty years, he has developed a wealth of knowledge, which he has applied to his entrepreneurial endeavors. In addition, Forbes named him Entrepreneur of the Year during the early 1990s.
Biem Butter Sprayer Shark Tank Deal
In Shark Tank, Doug requested a $500,000 investment in Biem Butter Sprayer in exchange for a 5% stake in the company.
The final deal Doug got from Lori Greiner was $500,000 for a 14% share in Biem Butter Sprayer.
What Happened to Biem Butter Sprayer After Shark Tank Deal?
In recent months, Biem butter sprayers have been active both on social media and on their website. At the moment, they do not have any available stock on their website, but they are still taking pre-orders.
After appearing on Shark Tank, Doug states that his sales increased, but he does not mention Lori’s contribution or future collaborations with her.
A crowdfunding campaign was instead used to fund the Biem butter sprayer, raising more than seven times its initial goal of $42,000.
Biem’s butter sprayer was a total failure. Following the Shark Tank appearance, a huge number of problems were revealed both about the product and the company.
Many customers complained that they never received the butter sprayer they ordered, and most complained that the butter sprayer did not work as intended.
As time went on, the problems grew worse. In the end, the company didn’t fix the issue, but instead of refunding customers, Biem assured them that the older model would be replaced with a V2 model in the near future.
Biem’s V2 butter sprayer left many customers disappointed due to its difficulty of use, although its concept initially seemed appealing to many customers.
Apart from the charger and battery, the company hasn’t sold anything in a long time.