Biem Net Worth 2023 Update (Before & After Shark Tank)

Biem-Shark-Tank-US-Net-worth-Update

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
InvestorLori Greiner
FoundersDoug Foreman
Employees25 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 nameBiem
ProductA device that can turn any stick of butter to spray
EpisodeSeason 08 Episode 04
FounderDoug Foreman
Asked for$500,000 for 5% equity
Final deal$500,000 for 14% equity
SharkLori Greiner
LocationUSA

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

YearAccomplishment
2020Biem Butter Spray was the first butter spay in the world
2016Biem 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.

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