First into the tank is LaTangela Newsome of Grease Bags, seeking $75,000 for 25 percent equity.
Grease Bags offers an eco-friendly way to dispose of grease. Used oils can be safely disposed of all while helping to protect the environment, according to their website. Three Grease Bags and Grease Bags Bundles are offered for $6.99 and $19.99, respectively. According to their website, they wanted “to do our part to prevent pollution and contribute to a zero waste world.” They are 100 percent compostable and all natural.
The material is used in oil spills but the sharks worry that the material is not proprietary. Lori Greiner goes out since she never fries food, therefore, has no knowledge about it. Barbara Corcoran worries that you need to wait for the grease to cool down so she goes out as well.
Kevin O’Leary and Mark Cuban find it too flawed given the health and eco-conscious target market and lack of options for hot grease. They both go out, followed by Robert Herjavec for believing there’s too many unknowns.
She gets another chance, however, when Corcoran offers $75,000 for 50 percent, contingent on cutting her initial price for three bags in half. She accepts.
Social Media Reacts to Grease Bags’ Appearance on “Shark Tank”
Where can we buy #greasebags ??? I need them!
— Fran (@sunrisecat) January 14, 2017
— Wendy90210 (@wendy90210) January 14, 2017
— StrangeBird ✨ (@CheepTalkin) January 14, 2017
— Carol White (@polowhite) January 14, 2017
— Michelles Treasures (@michellesawyer6) January 14, 2017
— Ashley Foxx (@foxxology) January 14, 2017
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.
Would you try Grease Bags? Sound off in the comments section below!