Jen and Ned are pitching Green Box to the Shark Tank. Green Box is a revolutionary kind of pizza box. It neatly divides into serving plates, leaving a portion that folds to hold leftovers. It’s made of recycled materials.
The Green Box team says that pizza boxes are too bulky. They’re hard to fit in the fridge with leftovers, and they cause a lot of waste. Their design eliminates the need for plates, foil or other storage wrap, and cleanup.
They sell it to distributors, including Whole Foods. They’ve made $1 million in the past year. For the company, the cost is a fraction of a penny per box, over a regular pizza box.
They’d like the sharks to invest in Green Box so
They’re asking for a $300,000 investment, and offering a 10% stake in the company.
Kevin was the first to express a concern. He said he tried to talk a pizza chain he has shares in into using a similar (though, he says, not as innovative) design, and the owner said he hated it — in addition to a fraction of a penny more per box, it would cost him an information campaign to let the customers know about it, and he’d rather have a way to save a penny.
Jen was ready with a response for that. She said it would need no marketing campaign — the information spreads quickly by mouth.
Mark Cuban was the first to step down, saying that fraction of a cent times a lot of pizzas is a lot of money. “I’m out.”
Kevin O’Leary had an offer, which he said was contingent on one of the major chains agreeing to use the boxes. He’d give $300k for 10% of the company, and would also want the $300k back from the first deal.
Robert Herjavec and Lori Greiner made an offer together. Theirs, too, was contingent on signing a large pizza chain. They’d give the asked $300k, for 30%.
Barbara Corcoran laughed off their offer, pointing out that in numbers alone, Kevin’s was demonstrably better, then explained why she wouldn’t make one. She said that while the product was nice, it wouldn’t be apparent until someone took it apart. “For that reason, I’m out.”
After a whispered conference, the pair accepted Kevin’s offer.
Final Deal: Kevin O’Leary invested $300k in Green Box for a 10% stake.
Photo: Youtube Screen Grab