As per latest update from Shark Tank, FryAway has a net worth of $6 million. Mark Cuban and Lori Grenier invested $250,000 in Fry Away for a 22% equity. Since then the company has become a huge success with 300% growth in sales.
FryAway Net Worth
| Founder | Laura Lady |
| Net Worth | $6 Million |
| Sales Revenue | $2.8 Million |
| Profits | $550,000 |
| Lifetime Sales | $9 Million |
| Investor | Mark and Lori |
| Shark’s Deal | $250k for 22% Equity |
Sales Growth
When the company pitched on Shark Tank in 2021, total sales till date were $700k. With in the first 12 months after the episode aired on TV, FryAway made a staggering sales of $1.8 Million.
As of today, FryAway generates $250,000 in sales revenue every month. The product is now available in 12 countries and Lori is planning to launch it in 40 more markets.
Profits for Sharks
Mark Cuban and Lori Grenier invested $125k each in the company. To this date, they have already withdrawn $380k each through dividends. This means, they both recouped 3-times their investment.
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Shark Tank Pitch
Laura Lady, the founder of FryAway came to Shark Tank seeking $250k for 10% equity in the company. That means she valued the company at $2.5 million.
Laura captured the sharks’ interest with her innovation, FryAway, which appears to address a significant issue in both culinary and environmental realms.
She elucidated that the conventional practice of storing hot oil in jars, rather than disposing of it down the drain, also presents drawbacks.
Laura Lady asserted that these containers can persist in the environment for over 400 years before breaking down.
Who Dropped Out?
Kevin O’Leary chose not to invest due to his personal reservations about fried foods, leading him to exit the deal first.
Following suit, Daymond John declined to make an offer, citing his belief that he couldn’t bring substantial value to the venture.
Robert Herjavec also opted out, as he determined that the opportunity wasn’t aligned with his interests or expertise.
Negotiations
Lori and Mark Cuban team up and ask for 25% stake. Instead they finally agree on 22% and close the deal on Shark Tank. Since then, FryAway’s net worth has seen a three fold increase.