Entertainment

Shark Tank: Grease Bags Accepts $75,000 Offer from Barbara Corcoran

Grease Bags

Grease Bags

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”

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!

12 Comments

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  • I have worked in a large compost fasility for 16 years these bags are the worst thing for compost sites that never break down in one cycle thay take many times around and get broken up. and small pieces of this plastic get into the final product and on to customers lawns. no good I will never buy tham

    • Greg, thanks for enlightening us about the fact that this product is not compostable in one cycle, and that pieces can end up in the soil. I had my doubts when I was watching this promotion, and now I am convinced that it is a useless product.

  • This is a stupid idea for a product. Barbara Corcoran is going to lose much money on this. It’s not compostable, and most people I know wouldn’t buy it. If you have leftover grease, mix it with hit water and dump it down the toilet. That’s what I used to do.

  • This was a great idea, and her presentation was awesome. I think this will be a great buy. I wish she would have haggled on her equity as well though. I wish her much success.

  • Are you kidding me, “people don’t fry food”? Then why is so much bacon sold in the world??? Can’t have pancakes without bacon! Tacos anyone?? This is such a HUGE problem for me, disposing of the darn grease. I WILL buy these bags, no matter what they cost. Thank you for this great invention! Lifesaver! Your presentation was an A+ girlfriend!!

  • I fry a lot and use old coffee cans for used grease and throw away when they fill up! I would definitely buy and use this product! Are they on sale now and where can I order them?

  • I definitely need some grease bags. Normally I do not pour hot grease down the drain, so I have no problem the way it is now. When will it be on the market and where to buy?

  • I got goose bumps after I saw this product and was yelling at the tv..when I thought she was not gonna get a deal..good for u Barbara for the deal. This product is what I always looking for and I don’t cook much. But it bothers me that I have to throw that greece down the sink of my house that i hope to keep forever..i can’t wait to but it…

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