Jessica Holsy and Emily Doubilet loved to throw parties, but they felt bad about the resulting waste from plastic cutlery, cups and paper plates. That’s why they created their line of environmentally friendly party supplies. Will they earn a deal on
Shark Tank Susty Party Update
- Entrepreneurs: Jessica Holsy, Emily Doubilet
- Business: Environmentally-sustainable party supplies
- Ask: $250,000 in exchange for 10% equity
- Result: No deal
- Sharks: None
Jessica and Emily set out to change the way people party by having colorful, eco-friendly party wares made in the USA, by factories that employed the visually-impaired. The pair got the sharks into party mode when they passed out their Susty Party plates made from tapioca starch and grass fiber, cutlery from sustainably-harvested wood, and napkins made of 100% recycled paper.
100% Biodegradable and Compostable through home or commercial composting. Non Toxic with no plastics or harmful chemicals. Made From sustainably harvested birch. Perfect for parties and events. Elegant and beautiful.
Jessica explained that an eight-pack of their single-use plates cost about $5. The brand was sold in Whole Foods, and had $1 million in sales in the then-current year. They were on pace to finish the year at $1.5 million, with an implied valuation of $2.5 million.
Barbara Corcoran didn’t think it would be a profitable investment. Robert Herjavec said the business was tremendously risky. Lori Greiner had already invested with a similar company. Three sharks were out, and that left only Mark Cuban and Kevin O’Leary.
Mark didn’t agree with the business plan set forth, so he was out next. Kevin offered a loan of $250,000 as debt at 10% interest, in exchange for 30% equity. Jessica and Emily declined the offer, and left without a deal. Was the party over for their company? Keep reading our Susty Party update to find out!
We have good news to share in our Susty Party update! Shortly after the episode aired, a $500,000 investment was secured in a seed round in exchange for just 8% equity. Then in 2016, the company was acquired by venture capitalists for an undisclosed amount. Jessica and Emily moved on and are no longer involved in the brand, but products are still available on Amazon.
Would you like to learn about the other companies featured on Season 5 Episode 27? 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 5 Products Page!
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!