What Happened To GreenBox After Shark Tank?

What Is GreenBox?

GreenBox is a recyclable cardboard pizza delivery box that can be disassembled into plates and storage items.

GreenBox is simply broken into four pieces by the perforated top of the new eco-friendly pizza box. You can eat it without using paper plates.

GreenBox Shark Tank Update

Perforations on the bottom allow all remaining slices to flex and fold over. This creates an ideal refrigerator storage container.

Company NameGreenBox
EntrepreneurNed Kensing And Jennifer Wright-Laracy
ProductEco-Friendly Pizza Boxes That Convert Into Storage Units
Investment Asking For$300,000 For 10% equity in GreenBox
Final Deal$300,000 For 10% equity in GreenBox. With $300,000 To Be Repaid
SharkKevin O’Leary
Episode Season 5 Episode 27
Business StatusIn Business
WebsiteVisit Website

Who Is The Founder Of GreenBox?

William Walsh is the founder of GreenBox.However, after the founder passed away tragically, his best friends Ned Kensing And Jennifer Wright-Laracy promoted the product and presented it on Shark Tak. 

GreenBox Before Shark Tank

To keep my friends from finding out about my shameful kitchen secret, I try my best to hide it. 

There are a lot of empty pizza boxes stashed away in a cabinet, the kinds too large to be discarded in a trash can.

GreenBox allows me to prevent the problem from getting worse at the very least. The innovative pizza box quickly transforms into a disposable plate and a useful container for leftovers.

I can feel better about myself by using it, as it is made of recycled materials and is environmentally friendly.

The GreenBox concept was developed by William Walsh while living in a fraternity house and earning a football scholarship.

His idea of creating a customized box to disassemble into a more usable collection of objects came about after he spent hours disassembling hundreds of pizza boxes, which was not uncommon.

GreenBox Shark Tank Update

A set of four throwaway plates could be made from the top, while a container for leftovers could be formed from the bottom.

The GreenBox business was founded by William and Ned Kensing with a utility patent granted for its original concept.

One of William’s close friends, Jen Wright-Laracy, had recently graduated from a Colombian business school with a Finance MBA and was looking for a business opportunity that would allow her to advance her entrepreneurial ambitions.

GreenBox was founded in 2008 and got off to a fast start. Jen developed a business plan and quickly secured $50,000 in bridging finance for her start-up.

A surprising boost in fortunes came from actor Ashton Kutcher’s promotion of the GreenBox on Twitter, a relatively new social media site. The sales of Greenbox skyrocketed after Ashton endorsed the brand.

Greenbox unique and ecologically friendly product was awarded additional prizes and best-invention citations.

It was listed in Time magazine’s 2009 list of the 50 Best Inventions and Restaurant Business Magazine’s 2009 list of the 50 Great Ideas.

Unfortunately, William Walsh passed away unexpectedly in November 2011 at 44. 

The death of their business partner and friend was a challenging experience for Ned and Jen; they knew that William would want them to continue the business and promote his creative idea.

How Was The Shark Tank Pitch Of GreenBox?

Ned Kensing And Jennifer Wright-Laracy appeared on Shark Tank requesting an investment of $300,000 in exchange for a 10% stake in Greenbox.

GreenBox research shows that people enjoy eating pizza more than they enjoy having sex. Pizza boxes are too bulky and must be stacked to fit the pizzas.

Greenbox is a simple, low-cost pizza box manufactured by a small company. The design makes it easier to break down the plates that come with it. The bottom of the box folds into a box that stores leftover pizzas.

They sell the box to distributors throughout the country. They believe that people will enjoy eating from the green box.

Robert & Lori will make a presentation to show the big pizza companies that they are interested in buying the GreenBox.

They would like to show that people like the box. They believe that Whole Foods is the largest customer and have a utility patent.

The company sold $1 million worth of boxes last year. The box costs only a fraction of a penny. This is because they’re making a profit off of the product.

Kevin wants GreenBox to save a cent, not increase the cost of the product. He believes the packaging could be as simple as having four individual plates in a box.

People need to educate them on how to use the product. They are going to be selling millions of pizzas.

Mark Cuban is out because making just a nickel is more than a lot of money when selling millions of pizzas.

Barbara Corcoran sees the product and does not think it is obvious that it is a unique box. She’s out because it is not clear that they are unique.

Kevin O’Leary asks them if they have spoken to Domino about a deal. They say they have.

Robert Herjavec is acquainted with major pizza firms, and they ask him to come on board.

Kevin O’Leary offers to get one of the major pizza companies to license the product. Then they will give them $300,000 for 10% of their money. Once they deal with one of the major pizza companies, they will pay the difference back.

When they sign a deal with one of the major pizza companies, he will pay them $300,000 for the box. They must pay back the money they borrowed.

Lori Greiner and Robert Herjavec are going to make them an offer. They want to acquire a deal with a major pizza company.

They must obtain the offer from the big pizza shops. They have to get them in front of major pizza companies. They need to obtain a deal with a major pizza company. The major pizza company must be involved.

Lori and Robert agree to a deal, giving them $300,000 for a 30% stake in Greenbox. They must negotiate with a major Pizza Company to have their products licensed.

Kevin O’Leary offers $300,000 for a 10% stake in GreenBox. Ned and Jen think for a while and accept the deal.

The founders of GreenBox left Shark Tank, securing a deal from Kevin O’Leary.

Final Deal: Kevin O’Leary agreed to invest $300,000 at a 10% stake in GreenBox.

What Happened To GreenBox After Shark Tank?

Jen stated during their time in the tank that she believes GreenBox will become the standard pizza packaging in the future.

Even though two sharks had a clear advantage over one, the couple didn’t want to give too much control. They were confident it would succeed enormously.

The contract with Kevin O’Leary appears to have yet to bear fruit, despite Jen and Ned’s confidence and optimistic outlook.

The Shark Tank program generated a lot of free publicity for the company. Still, no large pizza chains have signed agreements with GreenBox, and neither Kevin O’Leary nor GreenBox has commented on how the situation is developing.

Kevin O’Leary’s company, Boston Pizza, has yet to use GreenBox, even though at least one medium-sized pizza shop in Boston has done so.

Kevin’s reluctance to merge the operations of the two businesses with which he is associated is probably representative of how the largest chains would react to a potential merger.

GreenBox’s revenue grows at a rate of around 40% each year. Several contracts have been signed to sell the boxes manufactured at 12 locations nationwide.

GreenBox currently distributes to Cumberland Farms, Wholefoods Market, and Quiktrip. 

Jen estimates that the GreenBox is used in over a thousand stores, including regional chains and independent stores.

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A CBS show called Henry Ford’s Innovation Nation featured the GreenBox in March 2016, which garnered more attention from the pizza-eating world, which, as Jen asserted earlier this year, is pretty much everywhere.

Jen and Ned continue to promote GreenBox’s revolutionary design and environmental benefits in the press and the company’s professional and user-friendly website.

Jen has also offered guidance to other aspiring entrepreneurs, emphasizing the need never to be hesitant to seek assistance. 

She recommends obtaining expert assistance to keep on track and prevent costly blunders.

GreenBox Shark Tank Update

GreenBox is not limited to pizza chains. The unique company has partnered with The Cheesecake Factory nationwide and works with many large convenience stores.

However, the deal between GreenBox and Kevin O’Leary was never completed.

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GreenBox also serves pizzerias around the world, including in Australia! Shark Tank airs new episodes on Sundays at 10 PM on ABC, immediately following American Idol.

Is GreenBox Still In Business?

GreenBox’s sales are increasing 40% year over year. They are conveniently located at QuickTrip, Cumberland Farms, Whole Foods Markets, and the Hyatt Regency.

Kevin’s deal did not go through. Their firm continued to operate as normal, gradually expanding.

Their kiosks are located on college and university campuses and several regional pizza restaurants.

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In April 2020, GreenBox announced that it was acquired by Pratt, which has the fifth-largest corrugated cardboard manufacturing capacity in the United States.

What Is the Net Worth of GreenBox?

The valuation of GreenBox was $3 million when it appeared on Shark Tank. The net worth of GreenBox is unknown as of 2022 since the company was acquired in April 2020.

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