Incredible Eats Net Worth 2021
Loliware, a company that specializes in edible plastic cups and straws, took their pitch on Shark Tank in October 2015 very effectively and won over both Mark Cuban and Barbara Corcoran with its idea. After convincing both Sharks of its potential impact on reducing plastic waste through Loliware’s business venture, Loliware closed a deal granting both investors an investment of $600,000. They agreed to give 25% ownership stake in exchange for investment funds of this sum.
The products manufactured by this company are composed of agar, a plant-based gelatin that is food grade, vegan-friendly, and semi-translucent. Their cups resemble regular plastic cups and can hold liquid for 24 hours. Furthermore, these edible straws use similar methods but utilize Lolistraw which is completely biodegradable; additionally their founders are working on expanding the company with table ware to complement these edible cups.
After appearing on Shark Tank, the company experienced an unprecedented surge of interest and sales. Unfortunately, their initial launch experienced several setbacks including long wait times for online backers and broken product returns; as a result, its founders underwent a slight rebrand, shifting away from edible cups toward straws while shifting target audience from consumers to businesses hoping to establish themselves as leaders within eco-friendly consumer goods industry.
Even after encountering some initial challenges, the company remains strong and profitable. Its founders plan to expand product lines directly to consumers as well as entering new markets; their technology continues to progress as they explore what edible plastics can accomplish.
Incredible Eats has made headlines for its innovative edible cups and straws designed to replace single-use plastics. Their mission is to help create a cleaner world, and their Shark Tank investment has enabled them to expand their business while continuing to innovate – hopefully leading them down a successful path towards becoming an industry leader in plastic-free markets.