Loliware creates “biodegr(edible)” cups. They’re biodegradable, edible, and flavored for use with your favorite beverages and desserts. Chelsea Briganti and Leigh Ann Tucker thought up the cup in response to plastic waste and entered their creation in a contest to get it off the ground. Will any of the sharks take a bite out of these edible cups or will they leave the
Shark Tank Loliware Update
- Entrepreneurs: Chelsea Briganti and Leigh Ann Tucker
- Business: Edible, biodegradable alternative to plastic cups
- Ask: $150,000 for 15% equity
- Result: $600,000 for 25% equity
- Shark: Mark Cuban and Barbara Corcoran
Chelsea and Leigh Ann started with a great pitch. They showed off their different flavors, showcased how the cups could be used, and even demonstrated how edible they are. Each Loliware cup looks like a colorful plastic drinking glass, but they are completely biodegradable and edible when you’re finished with your drink.
They gave the sharks special drinks to show off their special flavors, and the sharks loved them. They were sugary, made with vegetable gelatin, and firm enough to hold a drink. Each cup costs $0.97 to make and sells for $1.50, though they hope to get the costs down.
Chelsea and Leigh Ann mentioned that they have a round of funding underway, and there’s about $600,000 left in the round. Robert Herjavec loved the product and offered to finish their round for them if another shark wanted to join up. He offered $600,000 for 25% equity. Mark Cuban immediately agrees.
However, Barbara Corcoran and Kevin O’Leary wanted in as well. Lori Greiner cleared the field by going out, leaving room for Barbara to offer to go in with Mark.
Mark says he’d work with her or with Robert, and the deals are the same. It’s up to the entrepreneurs to decide which sharks they want to work with.
Ultimately, they chose to take Mark and Barbara’s deal. Did this work out well for them? Find out in our Loliware update.
Our Loliware update revealed good news for the company! The deal with Mark and Barbara went through. The company started making straws as well as cups in 2018, which they funded through a few Kickstarter fundraisers.
Straws shipped in 2019, but the company’s website still doesn’t have any products available for sale. In March 2022, a new website launched but only allowed for a product alert when new straws become available.
Unfortunately, the company seems to be moving away from the cups featured on the show. We’re unsure about what issues they’re facing when it comes to supply and orders, but hopefully, they are cleared up soon!
What about the other products featured in Season 7 Episode 2? You can find our company updates for the rest of the episode below.
For more company and product updates, don’t forget to stop by our Season 7 products page.