ABC's Shark Tank has brought various innovative products into the limelight, with GreenBox being one of its standout ideas. Featured in season 6, episode 16 that aired in 2015, GreenBox reimagined the traditional pizza box to offer eco-friendly functionality.
GreenBox was created by William Walsh and co-founded by Jennifer Wright-Laracy and Ned Kensing. The duo aimed to solve a common problem for pizza lovers: how to repurpose bulky pizza boxes after use.
The product’s design allowed the box’s lid to turn into plates and its base into a compact storage container for leftovers. Seeking $300,000 for a 10% stake, the founders walked away with a deal from Kevin O’Leary.
However, the journey didn’t unfold as planned. Today, while GreenBox continues to exist under new ownership, its independent operations have ceased. Here’s a closer look at what happened.
The Shark Tank experience: GreenBox
Founders Ned and Jennifer entered Shark Tank seeking $300,000 for 10% equity. Despite a rocky start to their presentation, the duo recovered, captivating the Sharks with a demonstration of their eco-friendly pizza box.
They explained that their product served as both plates and a compact storage container, providing practicality and sustainability for pizza lovers. The Sharks were impressed with their sales of over 20 million units and their plan to focus on licensing the design to major pizza chains.
The pitch received mixed reactions. Kevin O’Leary expressed skepticism about the product's ability to increase pizza sales, while Mark Cuban and Barbara Corcoran doubted whether large chains like Domino’s or Pizza Hut would embrace the concept due to its slightly higher costs.
Lori Greiner and Robert Herjavec offered $300,000 for 30% equity, contingent on a licensing deal with a major pizza company. Kevin countered with an offer of $300,000 for 10%, also tied to securing a deal with a major chain. After discussing their options, Ned and Jennifer accepted Kevin's offer, believing in his confidence and strategy.
After Shark Tank: Publicity and growth
Although the deal with Kevin O’Leary fell through due to the absence of a partnership with a national pizza chain, Shark Tank gave GreenBox a visibility boost. In February 2017, Jennifer Wright-Laracy told Columbia Business School:
“The episode has acted as a prime-time commercial that most companies of our size could not possibly afford.”
GreenBox leveraged this exposure to expand its customer base, partnering with smaller chains and regional establishments. As per Food Republic, their product gained traction with businesses like Skinny Pizza, PizzaRox, and even non-pizza outlets like Z & Z Manoushe Bakery, which adapted the GreenBox for flatbreads.
The brand also received national attention on platforms like The Rachael Ray Show and in publications such as Forbes. Despite this momentum, the company struggled to secure the large-scale adoption necessary for sustained growth.
GreenBox today: New ownership
In April 2020, GreenBox was acquired by Pratt Industries, one of the largest players in the corrugated packaging sector. The acquisition marked the end of GreenBox as an independent entity. The company announced the same on their Instagram and Facebook pages.
Pratt now offers a version of GreenBox on its website, allowing distributors to customize and order the product. However, the foldable pizza box with disposable plates has largely disappeared from the market. GreenBox’s official website and social media accounts have also been inactive since 2020.
Despite the brand's reduced visibility after Shark Tank, GreenBox's founders, Jennifer Wright-Laracy and Ned Kensing, remain closely associated with the business. Both continue to list their roles as President and Vice President of Sales on LinkedIn, indicating their ongoing involvement in developing the brand under Pratt's leadership.
Shark Tank airs every Friday at 8 pm ET on ABC.