IncrEdible Eats Spoons On Shark Tank Season 13
Featured on Shark Tank
IncrEdible Eats Spoons On Shark Tank Season 13
IncrEdible Eats is dedicated to eliminating plastic waste by creating edible cutlery. Their flagship product is an edible spoon, which is available in flavors like vanilla. The company was founded by Dinesh Tadepalli, who landed a deal with Lori Greiner for $500,000 in exchange for 15% equity. The edible utensils are designed to be a sustainable alternative to plastic spoons, aiming to reduce environmental impact. Summary:
- Company Name: IncrEdible Eats
- Founder: Dinesh Tadepalli
- Founded: 2019
- Product: Edible utensils
- Asked For: $500,000 for 15% equity
- Final Deal: $500,000 for 15% equity with Lori Greiner
- Season/Episode (Shark Tank USA): Season 13, Episode 3
- Business Status: In Business
- Headquarters: Pleasanton, California, USA
- Lifetime Worth (Sales): Estimated $1M
- Investor: Lori Greiner
- Go To Amazon: Buy Now
- Watch On: Amazon Prime
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Description
IncrEdible Eats Spoons On Shark Tank Season 13
Here is a summary of what happened when IncrEdible Eats, the company that makes edible spoons, appeared on Shark Tank Season 13:
IncrEdible Eats on Shark Tank
- Entrepreneur: Dinesh Tadepalli, co-founder of IncrEdible Eats
- Product: Edible spoons, forks, and utensils made from a blend of wheat, oats, corn, chickpeas, and brown rice
- Ask: $500,000 for 7% equity
- Pitch: Tadepalli pitched IncrEdible Eats as an eco-friendly alternative to single-use plastic utensils, highlighting the products’ edible and biodegradable nature.
- Shark Reactions: The Sharks were impressed by the concept but had concerns about the high production costs and relatively low sales ($170,000 total) compared to the $7 million valuation.
- Deals Offered: After negotiations, several Sharks made offers – Kevin O’Leary ($500,000 for 35%), Mark Cuban ($500,000 for 20%), Lori Greiner ($500,000 for 15%), and Daniel Lubetzky ($500,000 for 25%). Tadepalli ultimately accepted Greiner’s offer.
IncrEdible Eats After Shark Tank
- Greiner Deal: However, the deal with Lori Greiner ultimately did not close, as the two sides could not agree on the final terms.
- Continued Operations: Despite the failed Shark Tank deal, IncrEdible Eats has continued operating and growing its business.
- Sales and Challenges: The company reported a sales spike after the Shark Tank episode aired, but also faced production challenges due to the pandemic.
- Current Status: IncrEdible Eats’ edible spoons, forks, and utensils are currently available for purchase on the company’s website and Amazon.
