Biem, A device that can turn any stick of butter to spray, was started by Doug Foreman in 2012. As of September 2023, Biem’s net worth is $10 Million and they’re pulling in a whopping $1.5 million in annual revenue.
On October 14, 2016, they appeared on Season 8 of Shark Tank USA and made a deal with Lori Greiner, for $500,000 for 14% equity. The final valuation was $3.57 Million, down from the founder’s initial estimate of $10 Million.
We can not be sure that Biem Butter Company is no longer in business or no longer in operation as of 2023. But their products are available on the website. but on Amazon, the product is currently unavailable. The Facebook page is not updated.
Biem Net Worth
Net worth | $10 Million (business valuation) |
Annual Sales Revenue | $1.5 million |
Profits | – |
Lifetime sales | $1.5 million |
Investor | Lori Greiner |
Founders | Doug Foreman |
Employees | 25 to 50 |
Biem Net Worth Timeline
Net Worth 2023 | $10 Million |
Net Worth 2022 | $8 Million |
Net Worth 2021 | $6 Million |
Net Worth 2020 | $5.5 Million |
Net worth valuation in 2016 after appearing on Shark Tank | $3.57 Million |
Net worth valuation in 2016 before appearing on Shark Tank | $10 Million |
Biem Pitch on Shark Tank
Company name | Biem |
Product | A device that can turn any stick of butter to spray |
Episode | Season 08 Episode 04 |
Founder | Doug Foreman |
Asked for | $500,000 for 5% equity |
Final deal | $500,000 for 14% equity |
Shark | Lori Greiner |
Location | USA |
Don’t miss these products from Season 8
Biem Founder
Biem was founded by Doug Foreman in 2012. He is a very smart innovator of kitchen products. He has already introduced various kinds of products to the US market. Biem’s founder, Doug Foreman, has a net worth of USD 1.5 Million as of 2023.
Key accomplishments
Year | Accomplishment |
2020 | Biem Butter Spray was the first butter spay in the world |
2016 | Biem Butter Spray appeared on Shark Tank |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business. They have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Spretz and its continued success.