What Happened to Lollacup After Shark Tank?
What is a Lollacup?
Lollacup is a one-of-a-kind and patent-pending Sippy cup created to provide children with a safer product and parents with less messes to clean up.
Hanna Lim created the Lollacup in 2011. It is intended to be simple to use, safe (BPA and phthalate-free), and easy to clean as a drinking straw.
The straw in the Lollacup is made of durable, soft materials, but there is one disadvantage: the Lollacup may stain. Chemists are working to create stain-resistant polymers that are free of harmful substances.
Until then, Lollacup provides straw replacement packages to replace straws that have become dirty due to spaghetti sauce, drinks, or whatever else the youngsters get their hands on.
Hannah and Mark Lim juggled motherhood’s rigors to create the Lollacup, a brand-new product for infants and toddlers.
Who are Lollacup’s inventors?
Hanna Lim established the Lollacup in 2011. As a drinking straw, it is meant to be simple to use, safe (BPA and phthalate-free), and easy to clean.
Lollacup’s inventors, Mark and Hanna Lim, created this one-of-a-kind and patented Sippy cup to provide children with a safer product and parents with less messes to clean up.
The husband and wife team have children and loathe the way Sippy cups spill all over everything; they also despise the plastics used in most Sippy cups.
They required BPA-free polymers while designing Lollacup and chose to manufacture it in the United States for better quality control. They were able to prevent any leaks and spills since the Lollacup is built of a single piece of material.
The straw in the Lollacup is made of durable, soft materials, but there is one disadvantage: the Lollacup may stain. Chemists are working to create stain-resistant polymers that are free of harmful substances (Lim).
Hannah and Mark Lim are parents and business owners who saw a need for a safer Sippy cup and decided to build one.
What happened to Lollacup’s pitch on Shark Tank?
In episode 12 of Season 3 of Lollacup on Shark Tank, Mark and Hanna choose to pitch their firm to Sharks in order to assist them expand their business.
Mark and Hanna approached Shark Tank in seeking of $100,000 in return for a 15% ownership in their firm, which was valued at $666,667.
As of the recording date, they had made roughly $30,000 in sales in the preceding four months. The Lims acknowledge to having signed a deal with a sales agent who is paid 15% of sales; this might be a deal breaker.
Lori enjoys the product, but she does not work in the baby products market, therefore she was unable to participate. Kevin offers $100,000 in return for 50% ownership of the firm, but he wants to outsource Lollacup production.
That does not sit well with the Lims, who were adamant about keeping the Sippy cups made in the United States.
In exchange for cancelling the deal with the sales agent, Daymond offers $100,000 for a 50% equity shares. The Lims offer $100,000 in return for a 40% stake in response to Daymond and Kevin’s offers.
Robert considers the proposition, but Mark does too, and he begins his famous “24-second clock.” Daymond lowers his offer to 30% but withdraws when Mark’s timer expires and no settlement was indeed reached.
Mark Lim expresses a desire to work with winners, and Robert investigates the 40% equity share arrangement. Mark reconsiders getting out with Robert and finally joins forces with him.
Finally, Lim accepts Robert and Mark’s offer of $100,000 for a 40% ownership in the company and walks away from the presentation with a deal.
What Happened to Lollacup After Shark Tank?
The deal with the two Sharks was concluded approximately three weeks after the scheduled air date, and Lims were shipping Lollacup around the clock from their garage.
They made a lot of money as a result of Shark Tank. The product is a best-seller in the Baby goods category on Amazon.
They have established their own warehouse and have employees supporting them with product shipment. Lollacup is still made in the United States with pride. Another Shark Tank success story is Lollacup!
The Lims’ product portfolio grew over time. The first was a “meal time set” consisting of bowls and plates.
A pacifier, hot and cold packs play mats, and other products are also included. The company is still in business as of December 2021, with annual sales of $2 million.
Lollacup’s Net Worth
During the pitch, the firm was valued at $666,667; following the investment by two Sharks, the company was valued at $250,000. Following the show’s incredible exposure, the company has a net worth of $10 million.
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Lollacup FAQs
What is Lollacup made of?
Lollacup is made of a single piece of material. Many Sippy cups are made from multiple pieces.
How does it work?
Lollacup has a straw that does not get stuck, and there are no leaks. When children empty the cup, they can simply pull the straw out so it does not get stuck in their mouth. In addition to being BPA and phthalate-free, Lollacup is also phthalate-free.
How does it stack up against other Sippy cups?
Lollacup is better than bottles because children can carry them around wherever they go. It also has no leaking problems and is less prone to spills.
How does Lollacup differ from other Sippy cups?
Lollacup’s design is innovative and easier for children to use. Most Sippy cups leak and parents have to replace the ones that are the worst.
Why would you choose Lollacup over other Sippy cups?
First, Lollacup is made in America, so there is better quality control. Second, the straw does not get stuck and there are no leaks. The design makes it easy to clean and use.
Where can I buy Lollacup?
Lollacup is available on Amazon and in various retail stores around the world. For a full list of retailers.
What color is Lollacup available in?
A variety of colors are available: pink, blue, green, orange and purple.
What comes with Lollacup?
With each Lollacup purchase comes with a free cap to prevent leaking and three colorful lids that transform the cup from a Sippy to a regular cup.
How does Lollacup earn money?
Lollacup earns money by selling its products to retail stores around the world.
How does Lollacup differ from other Sippy cups on the market?
Many Sippy cups are made of multiple pieces, and lids often leak. Lollacup do not have this problem since they are made of a single piece of material and have no leaks. They can also be reused as regular cups.
Is Lollacup BPA free?
Lollacup is BPA free, and it is also phthalate-free.
Is Lollacup dishwasher safe?
Lollacup is dishwasher safe, but it may need to be hand washed.
Who are the target markets of Lollacup?
The firm targets parents who want a special cup for their children.
Where is Lollacup made?
Lollacup is made in the United States of America, and the factory involved in production is located in Columbus, Ohio.
Is there a delivery charge?
There is no delivery charge if customers buy Lollacup online. If they buy them in a retail store, they have to pay for shipping.
What is the return policy?
If customers are not satisfied with their purchase, they can return Lollacup within 90 days of purchase. The firm will offer a full refund to customers who request one.
