“Feels a little more safer:” When Shark Tank investor Lori Greiner was ready to lend a loan to Pulp Pantry founder

On Shark Tank season 13 episode 23, Kaitlin Mogentale, the founder of Pulp Pantry, was seeking $500k for 5% of the company equity. Kaitlin explained that all her products were made from food pulp and stated that her mission was to utilize leftover pulp to reduce waste.

All sharks were impressed by the business idea and the unique Pulp Pantry's products. However, they questioned the valuation, Lori Greiner praised Kaitlin but wasn't ready to invest a huge amount in this business. However, she explained that she would offer a loan to ensure she makes her money back. Lori said:

"The thing for me is, I love what you're doing, love love love it but you're asking for half million dollars for 10%. I'm trying to figure out how long will it take for me to see my money back how about I gave you the $500,000 as a loan because that feels a little safer to me."

Kaitlin received offers from three Shark Tank investors, Mark Cuban, Kevin O'Leary and Lori Greiner. However, Kaitlin decided to secure a deal with Mark Cuban of $500,000 at 17% equity of her business. In 2024, Pulp Pantry was rebranded as Trashy and it isn't clear if the change was due to Cuban's involvement.

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Shark Tank investor Lori Greiner explained how she would bring value to Pulp Pantry

After placing an offer of giving $500,000 as a loan at 6% interest for a 10% equity, the Shark Tank investor Lori Greiner shared she was looking forward to sharing her learnings with Kaitlin. Lori questioned the overall valuation and stated she wanted to be safe, so she was ready to give a loan to make her money back.

Then, Mr. Wonderful also offered $500,000 for 25% equity, mentioning that the valuation was too much. However, he did praise the business idea, stating that it checked most boxes, and predicting that Pantry Pulp was worth $2 million, he said:

"I don't think you're worth $5 million but I'll tell you you're very impressive I've made a lot of money investing in women, sustainability checks the box, product is right on trend cause I'm lowering my gluten i think your business is worth $2 million bucks so I'll give you $500,000 for 25%."

Guest Shark Emma Grede agreed with Kevin's statements and decided to back out along with Shark Tank investor Barbara Corcoran, she said:

"I actually for once agree with Mr. Wonderful I think the valuation is a little nuts rather than give you an offer that's insulting I'm gonna drop out but I do wish you good luck cause I think you're a fantastic enterprnuer."

After that, Mark Cuban offered $500,000 for 20% equity but Kaitlin wanted the equity down to 15%. Cuban said he was trying to reach a common ground and countered with 17% equity, which the Pulp Pantry agreed to.

As of 2024, Pulp Pantry has been featured in publications such as NPR, The Today Show, Forbes, and PBS News Hour. The company's name has been changed to Trashy, with an expansion in the range of products.

Shark Tank episodes are available to stream on ABC.