LoliWare Shark Tank Update | LoliWare Net Worth

Loliware is an innovative company that develops sustainable, edible, and biodegradable alternatives to single-use plastic products. Chelsea Briganti and Leigh Ann Tucker founded the company to combat the global plastic pollution crisis through their eco-friendly products.

Loliware first gained attention with its edible, biodegradable, and compostable cups made from seaweed-derived materials. These cups were designed to decompose like a piece of fruit, significantly reducing waste compared to traditional disposable cups. The founders envisioned replacing single-use plastic items with sustainable and edible alternatives.

Loliware appeared on the TV show Shark Tank in October 2015, where the founders pitched their innovative products to the Sharks. They successfully secured a deal with investors Mark Cuban and Barbara Corcoran, who jointly offered $600,000 for a 25% equity stake in the company.

Following their appearance on Shark Tank, Loliware continued to focus on innovation and product development, further establishing themselves as a leader in the sustainable and eco-friendly consumer goods market.

They leveraged the exposure and investment gained from the show to increase their product offerings, expand their reach, and contribute to the global movement against single-use plastic pollution.

Company NameLoliWare
FounderLeigh Ann Tucker and Chelsea Briganti
ProductEdible, biodegradable cups
Investment Seeking$150,000 For 10% equity in LoliWare
Final Deal$600,000 For 25% equity in Loliware
SharkMark Cuban And Barbara Corcoran
Business StatusIn Business
WebsiteLoliWare Website

What is Loliware?

Loliware is a reusable cup that, upon consumption, completely decomposes. This edible cup is incredibly entertaining and reminiscent of Charlie and the Chocolate Factory.

These cups are made from seaweed, organic sweeteners, organic fruits, and organic vegetables and come in flavors like Matcha Green Tea, Yuzu Citrus, Tart Cherry, and Vanilla Bean. 

LoliWare Shark Tank Update | LoliWare Net Worth

They’re ideal for cocktails, sweets, cereal, and anything in a cup. Additionally, keep an eye out for edible dinnerware and packaging from Loliware. The edible bioplastic startup Loliware aimed to minimize plastic waste and ensure a sustainable future by creating the world’s first edible drinking cup.

Their edible cups were created to serve beverages and desserts at gatherings and are available in various flavors to complement any meal.

Today, they have refocused as a seaweed-based material firm to reduce our dependency on single-use plastic goods such as straws, cups, and other items that eventually wind up as litter, in landfills, or, worse yet, floating in the ocean.

They manufacture reusable single-use appliances that last 24 hours and are completely biodegradable in 60 days.

Who is the Founder of Loliware?

Chelsea Briganti is the founder of Loliware. Chelsea Briganti, a Hawaiian surfer, and co-founder, is accustomed to encountering garbage floating in the ocean, and she can understand plastic’s impact on our ocean better than anyone.

Thus, Loliware was founded by Leigh Ann Tucker, a fellow student (whom she met at the same New York school).

The two women continue to serve as directors of the corporation. The company produces exclusive distribution rights through investment deals and high-profile endorsements (including Oprah Winfrey) with hotels, amusement parks, and event planners.

The company intends to continue presenting products to stadiums, fast-food restaurants, and other locations, extending its product line and improving existing concepts.

The company’s concept began to take shape in 2010, shortly after both girls graduated from New York’s Parsons School of Design. They entered a competition to create a disposable, edible, and biodegradable drinking cup.

It was a huge success, and they began to receive inquiries from ecologically minded shops. As a result, they raised $10,000 on Kickstarter to help with prototype design and production. 

It was featured in Oprah Winfrey’s episode “50 Things That Will Make You Go Wow!” in 2013. A few years of testing and development culminated in the site’s launch in 2015. Her sales of $110,000 were made in just three months.

Soon after, they were approached by a prominent New York-based events firm with an opportunity to sign a lucrative $1 million contract. 

They searched for investors to help them expand the business and fulfill the demand for high production.

LoliWare Before Shark Tank

Many entrepreneurs associated with the food business have appeared on Shark Tank in the past. 

The Sharks have seen many creative methods to serve classic foods and unique food storage options, but Loliware combined the two, acting as both an original cuisine and a smart food storage solution.

Chelsea Briganti, a native of Honolulu, Hawaii, met Leigh Ann Tucker while studying at New York City’s famed Parsons School of Design. After graduating in 2010, the two entered a Jell-O competition, but instead of making another beautiful mold, they created something unique. 

They were highly enthusiastic about sustainable practices and the environment. They combined their enthusiasm and creative talents to create an edible disposable drinking cup of 100 percent biodegradable materials.

LoliWare Shark Tank Update | LoliWare Net Worth

The concept outperformed the competition, and the duo began to garner interest from huge stores and the beverage industry. 

They took their ideas to Kickstarter to transform them into a natural product, and the crowd-funding community stepped up. 

After Chelsea and Leigh Ann reached the $10,000 threshold by January 2011, they were prepared to begin manufacturing.

As the business tagline put it, the final product was manufactured from agar, plant-based gelatin that was semi-translucent, durable enough to drink from, vegan-friendly, and fully biodegradable.

The Loliware company ultimately began operations in early 2015, and the cup’s creative design and environmental benefits quickly caught the attention of the corporate community. 

Loliware has been praised in commercial and environmental media as a remarkable development for the environment and imaginative designers.

How Was The Shark Tank Pitch of LoliWare?

Chelsea and Leigh Anna appeared on Shark Tank and requested an investment of $150,000 in exchange for a 15% equity in Loliware. A Loliware cup is a disposable cup that you can drink from. It is non-GMO, gelatin-free, and 100 percent organic.

Created from sustainable seaweed, the biodegradable material is also 100 percent all-natural and can be used to produce tableware and packaging. Loliware is a modern cup, perfect for high-waste events such as weddings, parties, food fairs, congresses, concerts, outdoor festivals, marathons, etc. 

Loliware is created from organic seaweed and vegetables; it uses sweeteners like fruit and organic cane sugar and has several flavor options. The consumable ingredients are entirely plastic, BPA, gluten, and toxic-free and authorized by the FDA.

Loliware has a flavor reminiscent of a grown-up fruit roll-up, with tart cherry, Yuzo citrus, matcha green tea, vanilla bean, and even Loliware. Loliware has clever insulating technology to carry chilled drinks, frozen desserts, and beverages at room temperature and below. 

After eating your meal, you are welcome to have a refreshing drink, as the “food scraps” in the cup will decompose in just 60 days. They then devour a cup before the Sharks while pitching their product’s edible nature, claiming they want to start a plastic-free revolution.

The Sharks have tried cups with unique beverages and have liked them. Lori thinks it’s tasty, describing it as “adult fruit roll-ups.” They demonstrate how they produce Loliware from veggie gelatin and inform the Sharks that they have received a $1.3 million letter of intent from a party supply firm.

As they continue to explain their narrative, the women reveal that their cost is 97 cents for a $1.50 cup, but they believe they can lower their prices by increasing volume. 

They have so far contributed $20K of their own money and received another $100,000 from family and friends. The Sharks begin to circle them as they speak. Robert tries to get Mark to join in, but Mark exclaims, “DONE!” if another Shark joins him in the deal. 

Kevin and Barbara both want in. Lori sets things straight, and Barbara says she wants to go in with Mark. Mark says he can work with either Shark. Chelsea and Leigh Ann think about what they want to do. Mark and Barbara accept the offer – Robert is now out of the picture! 

The Marks and Roberts have offered $600,000 for 25% of the company, and Mark and Barbara have also made similar offers.

Final Deal: Mark and Barbara agreed to invest $600,000 for 25% equity in Loliware.

What Happened To Loliware After Shark Tank?

The Sharks’ interest in Loliware was a positive sign for Chelsea and Leigh Ann; many spectators shared their enthusiasm. The biodegradable nature of the Loliware cups drew a broad audience, and that popularity quickly resulted in a practical outcome.

As a result of the presentation, DSM, a significant nutrition firm, approached Loliware. They were interested in developing a line of products using the Loliware technology, and another exciting company development occurred in July 2016.

Lolivita, a new product prototype, was unveiled at the IFT show in Chicago. Although Lolivita is vitamin-infused, it can also be used to administer various dietary supplements. 

The startup hopes to collaborate with DSM on developing a variety of specialist cups in the future, including an electrolyte cup, an energy cup, and a protein cup. 

The allure of Loliware is that the cups may be customized to appeal to a specific demographic in the market. And, of course, the technology has far more uses than just cups. Chelsea discussed prospective applications for the procedure in an early 2016 interview. 

She envisions children’s parties where all the plates, not just the cups, are edible; she says that the possibilities for Loliware are essentially limitless, and the sky truly is the limit regarding profitability. They look to be expanding their cup offerings. The company’s next step is the Lilistraw, an edible, biodegradable straw. 

A Kickstarter campaign for the new product has been launched, offering several pledge levels with exclusive offers for pledgers. The brand is on Twitter, @LOLIWARE, Instagram, @loliware, and its Facebook page to keep up with new products.

Did Loliware Get A Deal On Shark Tank?

Chelsea Briganti and Leigh Ann Tucker received $600,000 from Mark Cuban and Barbara Corcoran in Season 7, Episode 2 of Shark Tank in exchange for 25% (a valuation of $2,4 million) of their biodegradable plastics startup, Loliware.

Mark remained an investor despite the agreement with Barbara not being finalized.

LoliWare Shark Tank Recap

After its successful appearance on Shark Tank in October 2015, Loliware experienced a significant increase in exposure and business opportunities.

The investment from Mark Cuban and Barbara Corcoran and their mentorship helped the company expand its product offerings and focus on innovation.

Following the show, Loliware’s edible and biodegradable cups gained more attention, leading to increased demand and sales.

The company used this momentum to develop its product line further, introducing the “Lolistraw,” an edible, compostable straw made from seaweed-derived materials.

This innovative product aimed to tackle the plastic straw pollution problem, which contributes significantly to the ocean and environmental pollution.

Loliware continued to refine its products and explore other eco-friendly solutions to single-use plastics. They expanded their market reach, targeting consumers and businesses in the food service industry, such as hotels, restaurants, and event venues. This broader focus aimed to create a more significant impact on reducing plastic waste and promoting sustainable alternatives.

The company also collaborated with various organizations and initiatives focused on sustainability and reducing plastic pollution, establishing Loliware as a leader in the eco-friendly consumer goods market.

Is Loliware Still in Business?

Loliwareware’s edible cups are no longer on sale, and the company seems to have abandoned the project. Even with poor sales and negative consumer feedback, the business raised $1 million in 2017.

Loliware raised over $49,000 on Kickstarter with 1083 backers in January 2018 and over $73,000 on Indiegogo.

Since funding, the company has worked diligently to meet its manufacturing targets. However, months have passed without any major updates, and Loliware supporters are growing restless due to the lack of communication.

Loliware has undergone numerous revisions since its initial appearance on Shark Tank. From edible cups to edible straws to non-edible straws, the journey continues.

In early January 2020, the company secured $6 million in startup funding from Hatzimemos / Libby, a New York-based venture capital firm. LoliStraws, on the other hand, is no longer available for pre-order and is not sold directly to consumers.

With numerous LoliStraws circulating on their Instagram page, buyers and funders are curious about receiving their own. Although Loliware staff says all orders have been fulfilled, many backers remain unsatisfied.

Since then, the company has said its focus has switched to selling directly to enterprises to create a “great impact through rapid adoption at vast numbers.”

What Is the Net Worth of LoliWare?

The valuation of LoliWare was $1 million when it appeared on Shark Tank. The net worth of LoliWare is $0 since the company has not published its financial information.