Loliware Net Worth 2022
Chelsea Briganti and Leigh Ann Tucker co-founded Loliware, an innovative company offering edible cups that biodegrade in 60 days. When pitching their business on Shark Tank for $150,000 for 10% equity stake, investors were initially skeptical, yet soon convinced by Chelsea Briganti and Leigh Ann Tucker’s innovative product and unique solution to plastic pollution problem.
Initial plans were for Chelsea and Leigh Ann to use the investment money to produce an edible cup and other products to sell in supermarkets and specialty stores, however after appearing on Shark Tank and experiencing success with it their company expanded further with eco-friendly plates, bowls, straws as well as plans to develop table ware for weddings, events, food fairs or any high waste events.
Loliware cups are created using an organic blend of seaweed, fruit and vegetable sweeteners and vanilla bean. BPA- and gluten-free certified by the FDA, these cups come in various flavors including Yuzu Citrus, Tart Cherry Matcha Green Tea Vanilla Bean.
Loliware may only be relatively new on the market, yet it has generated tremendous attention in terms of both interest and market response. Commercial and environmental media alike have widely recognized Loliware’s eco-friendly nature and design innovation as sources of praise; thus cementing Loliware as an innovator within sustainable and eco-friendly consumer goods industry.
Chelsea and Leigh Ann recently disclosed that their business has experienced considerable expansion since appearing on Shark Tank. With exciting partnerships already established and their market reach expanding quickly, Chelsea and Leigh Ann continue their work on developing products which will cement the success of their brand further.
At their Shark Tank pitch, the entrepreneurs explained how their edible cups created an entirely new product category. They asserted that these edible cups could be used at high-waste events such as weddings and parties while also serving restaurants and bars looking to reduce plastic waste. The sharks were highly impressed with this innovative idea and eagerly invested in the company.
Loliware was founded after striking a deal with Mark Cuban and Barbara Corcoran to produce environmentally sustainable products such as edible plates, bowls and straws. Their team also turned to crowdfunding as a source of capital for their new company.
After an unsuccessful launch of their edidble cups, the team decided to focus on biodegradable straws instead. Their new product, Lolistraws has gained significant investment funds while expanding customer bases rapidly while becoming a market leader within eco-friendly consumer goods industry.