What Happened To GreenBox After Shark Tank?

Shark Tank episodes 620 features Ned Kensing and Jennifer Wright-Laracy, who pitch GreenBox, a 100 percent recyclable pizza box.

A GreenBox pizza box combines pizza storage to decompose into plates and turn into a storage container.

GreenBox’s various uses reduce energy consumption by eliminating the need for dishes and plates and Tupperware.

The GreenBox was designed by Ned and Jen’s friend, William Walsh, during his undergraduate years.

A group of football players lived in the same house with him, and the dishes were never clean – so he began tearing up the box into plates.

Years later, the three founded and patented the firm known as “GreenBox” (formerly ‘Ecovention’).

GreenBox developer William Walsh tragically died in November 2011, just weeks after the release of his product.

What Is GreenBox?

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

It 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 invented the 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 also 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.

The business partners approached Jen and invited her to join their new enterprise.

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.

Sales skyrocketed after Ashton endorsed the brand.

The 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 died 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?

Jennifer pursued an Executive MBA at Columbia Business School when the trio decided to market their product.

She and her partners, Ned and William, decided to produce and market GreenBox because Wall Street jobs were hard to find.

The New York Daily News called it the Swiss Army Knife of pizza boxes and dubbed it one of the top 50 inventions of 2009.

The idea of packaging sales as a business is a first for Shark Tank. They are available directly in nearly all Whole Foods stores, but their primary business is a wholesale distribution to the pizza restaurant industry.

GreenBox began as a New York City startup and later expanded to Whole Foods Market. The GreenBox is introducing itself to every pizza shop in the U.S. and abroad with the backing and business acumen of a Shark. 

Does this venture have the potential to attract a Shark?

Ned and Jennifer appear on Shark Tank shoe seeking $300,000 investment for a 10% equity in GreenBox. The pitch starts with Ned stammering and stumbling, just like Jen.

Then they restart and tell the GreenBox story. As Jen describes the product, Ned demonstrates it to the Sharks, who “ooh and ah.”.

Pizza is distributed on damaged plates by Ned. Robert wonders who will be purchasing it. 

Jen explains that they wanted to validate the concept before moving forward with a licensing approach.

They disclose that they have sold more than 20 million pizza boxes via wholesale and licensing channels. 

The GreenBox would be fractions of a cent more expensive than standard boxes. Kevin does not think it will have much of an effect on sales.

Mark believes that even fractions of a cent would significantly increase expenditures; he withdraws. Kevin offers $300,000 for 10% of a deal with one of the main pizza restaurants.

Lori and Robert offer $300,000 for 30% of the business in exchange for a licensing agreement with a huge pizza manufacturer; they are convinced they will secure a deal. 

Barbara is no longer interested in the product since she lacks sufficient faith in it.

After discussing the situation, Ned and Jen accept Kevin’s offer.

Final Deal: A deal with Kevin for $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 hand over 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 own 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.

Both Jen and Ned continue to promote GreenBox’s revolutionary design and environmental benefits in the press and on 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.

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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, the company was acquired by Pratt, which has the fifth-largest corrugated cardboard manufacturing capacity in the United States.

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