Shark Tank: Sharks Take A Bite Out of Loliware, Accepts Deal from Mark Cuban and Barbara Corcoran for $600,000

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www.ahalife.com

www.ahalife.com

Last into the tank is Loliware, an edible and biodegradable cup. Here is a description from their website:

LOLIWARE is a revolutionary new drinking and eating experience. The first and only edible disposable cup, it is 100% all natural, non-GMO, gelatin-free, gluten-free, plastic-free, BPA-free, non-toxic, and FDA approved.

They are seeking $ 150,000 for 10 percent equity.

The flavors include citrus, cherry, green tea, vanilla bean and an unflavored for those who simply want to use it to “complement” their meal.

Kevin O’Leary says it tastes like licorice, which makes sense since they are mades of fruits and vegetables.

They explain that the product went viral and got a 60,000 order the day after an event.

Robert Herjavec thinks that they actually need more money, but for more equity and an added shark. $ 600,000 for 25 percent, their revised offer, is put up by Mark Cuban, but the situation quickly escalates when Mark Cuban doesn’t express any interest in having them pick who gets to partner with him.

Herjavec wants to go in, but is interrupted by Barbara Corcoran who wants to partner with Cuban or Lori Greiner. Greiner thinks of their product as more of a “party thing” though and goes out.

Given that the same deal is being offered from both sets of sharks, they accept Cuban and Corcoran’s deal.

Final deal: Mark Cuban and Barbara Corcoran for $ 600,000 for 25 percent.

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