Loliware Net Worth 2022: Is It Still In Business?

loliware net worth

A reusable cup called Loliware decomposes entirely after being used. This edible cup is both interesting and tasty in a way that makes you think of Charlie and the Chocolate Factory.

These cups come in flavours including Matcha Green Tea, Yuzu Citrus, Tart Cherry, and Vanilla Bean and are created with seaweed, organic sugars, organic fruits, and organic veggies.

Cocktails, desserts, cereal, and pretty much anything else that fits in a cup are all great with them. Watch out for Loliware’s edible packaging and crockery as well.

By developing the first edible drinking cup, the edible bioplastic firm Loliware set out to reduce plastic waste and assure a sustainable future.

Their edible cups come in a variety of flavours to go with any meal and were designed to serve beverages and desserts at gatherings.

In order to lessen our dependence on single-use plastic products like straws, mugs, and other items that inevitably end up as litter, in landfills, or, worse yet, floating in the ocean, they have now refocused as a seaweed-based material company.

They produce reusable, single-use gadgets with a 24-hour lifespan and 60-day full biodegradability.

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All About LoliWare Founder

Chelsea Briganti, a co-founder from Hawaii and avid surfer, is used to coming across trash floating in the water and is the best person to ask about the effects of plastic on our environment.

As a result, fellow student Leigh Ann Tucker launched Loliware (whom she met at the same New York school).

The two women are still the corporation’s directors. Through financial agreements and well-known endorsements (including Oprah Winfrey) with hotels, theme parks, and event organisers, the company produces exclusive distribution rights.

The business plans to keep showcasing items at stadiums, fast-food outlets, and other locations while expanding its product line and enhancing current concepts.

loliware founder

The idea for the business started to take shape in 2010, not long after both females received their degrees from the Parsons School of Design in New York. They entered a contest to develop a drink container that was disposable, edible, and biodegradable.

It was a big hit, and they started getting queries from stores that were concerned about the environment. They thus funded $10,000 on Kickstarter to assist with the creation and design of the prototype.

In 2013, Oprah Winfrey included it in the programme “50 Things That Will Make You Go Wow!” After several years of testing and development, the website was finally launched in 2015. Her three-month sales period resulted in $110,000 in revenue.

Soon after, they were contacted by a well-known events company from New York. has the chance to agree to a lucrative $1 million contract.

To grow the company and meet the need for high output, they looked for investors.

LoliWare and The Shark Tank Deal

loliware shark tank

In Season 7 Episode 2 of Shark Tank, Chelsea Briganti and Leigh Ann Tucker exchanged 25% (worth $2,4 million) of their biodegradable plastics firm, Loliware, for $600,000 from Mark Cuban and Barbara Corcoran.

Despite the arrangement with Barbara not being consummated, Mark continued to be an investor.

LoliWare After Shark Tank

For Chelsea and Leigh Ann, the Sharks’ interest in Loliware was encouraging, and many onlookers shared their enthusiasm.

Widespread interest was generated by the biodegradable properties of Loliware cups, and this interest swiftly led to a useful outcome.

Following the presentation, DSM, a big nutrition company, contacted Loliware. They were interested in creating a line of goods using the Loliware technology, and in July 2016, the business underwent another exciting development.

At the IFT show in Chicago, a brand-new product prototype named Lolivita was introduced. Lolivita can be used to give a number of dietary supplements even though it contains vitamins.

In the future, the business hopes to work with DSM to develop a range of specialty cups, such as an electrolyte cup, an energy cup, and a protein cup.

loliware after shark tank

The attractiveness of Loliware is that the cups may easily be personalised to appeal to a certain market segment.

Naturally, the technology can be used for much more than simply cups. In a 2016 interview, Chelsea talked about potential applications for the treatment.

The possibilities for Loliware are practically endless, and the sky is the limit in terms of profitability, according to her vision of kids’ parties where all the plates, not just the cups, are edible.

They appear to be expanding their cup choices as of 2017. The Lilistraw, an ingestible, biodegradable straw, is the company’s next step.

For the new product, a Kickstarter campaign has been started, with multiple pledge levels and special deals for backers.

For updates on new goods, follow the brand on Twitter at @LOLIWARE, Instagram at @loliware, and its Facebook page.

Is LoliWare still in business?

The company Loliwareware appears to have given up on the endeavour because its edible cups are no longer available for purchase.

In spite of low sales and unfavourable customer reviews, the company made $1 million in 2017.

In January 2018, Loliware received over $49,000 from 1083 backers on Kickstarter and over $73,000 from backers on Indiegogo.

Since receiving investment, the company has put up a lot of effort to achieve its manufacturing goals. But because there haven’t been any significant upgrades in months, Loliware enthusiasts are getting impatient.

loliware net worth

Since its debut on Shark Tank, Loliware has undergone a number of changes. The journey continues with edible straws, edible cups, and non-edible straws.

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A venture capital group based in New York named Hatzimemos/Libby provided the company with an extra $6 million in starting investment at the beginning of January 2020.

Contrarily, LoliStraws are not sold directly to customers and are no longer up for pre-order.

Customers and funders are interested in receiving their own LoliStraws because there are so many of them circulating on their Instagram page.

Many funders are still dissatisfied even though Loliware personnel claims that all orders have been fulfilled.

The business has since said that its emphasis has shifted to selling directly to businesses in order to have “big impact through rapid adoption at huge numbers.”

LoliWare Net Worth 2022

LoliWare got out of business before 2022. But they have raised many funding in between. $600,000 For 25% equity in shark tank. In January 2018, Loliware received over $49,000 from 1083 backers on Kickstarter and over $73,000 from backers on Indiegogo.

In spite of low sales and unfavourable customer reviews, the company made $1 million in 2017.

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