Ned Kensing and Jennifer Wright-Laracy wanted to improve on the traditional pizza box that is used by millions of pizza restaurants around the nation. They’ve designed an eco-friendly solution, that is much easier to handle and dispose of after eating. Will the sharks give them a deal on
Shark Tank Green Box Update
- Entrepreneurs: Ned Kensing and Jen Wright-Laracy
- Business: Eco-friendly pizza boxes
- Ask: $300,000 for 10% equity
- Result: $300,000 for 10% equity
- Sharks: Kevin O’Leary
Take out and delivery pizza is one of America’s most popular foods, but pizza boxes crammed into garbage cans is a constant problem. The Green Box pizza box however, has a lid that breaks down into 4 sturdy plates while the bottom turns into storage for leftovers. Ned and Jen passed out some pizza samples in their creative packaging and the sharks thought they had a clever idea.
They had already partnered with Whole Foods at the time of filming and had generated $1.7 million in the year just before coming onto
Kevin O’Leary decided to make an offer of $300,000 in exchange for 10% equity. The deal would be contingent on getting a major pizza restaurant to come on board in terms of securing a licensing agreement, and Kevin wanted to be completely paid back initially after a potential licensing deal was secured. Keeping things interesting in the tank, Robert Herjavec and Lori Greiner partnered up to make an offer of $300,000 in exchange for 30% equity.
Barbara Corcoran dropped out in the meantime, which meant that the two initial offers would be all that Green Box would receive. Jen and Ned decided to accept Kevin’s offer of $300,000 in exchange for 10% equity, including the contingency that he had in place. What happened next for their company? Keep reading our Green Box update to find out!
The Green Box update is exciting and shocking at the same time. The company experienced massive growth in the years following
Would you like to find out more about the other companies featured on Season 6 Episode 16? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 6 Products Page before you go!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!