IncrEdible Eats is a business that provides customers with the opportunity to replace plastic spoons, sporks, forks, straws, chopsticks, and other cutlery items with edible alternatives. The business is founded by Dinesh Tadepalli who aims to become an entrepreneur.
IncrEdible Eats aims to reduce the use of plastic by replacing plastic with alternatives. Thus, the small American startup produces cutlery items that are edible.
Through its sales, the business has been able to successfully replace about one million plastic utensils. In more than two and a half years, IncrEdible Eats has earned more than $170,000 in sales.
IncrEdible Eats Net Worth
In 2022, the net worth of IncrEdible Eats is estimated to be between $1 million and $4 million.
IncrEdible Eats’ Products
IncrEdible Eats offers spoons that are lightly flavored. These spoons can be used with both cold and hot foods, including cereal, pasta, soup, rice, stews, and ice cream. The ingredients of most of the IncrEdible Eats’ products are plant-based, vegan, and dairy-free.
Various flavors that the business offers are chocolate, oregano chili, black pepper, and vanilla. The spoons are wrapped in biodegradable and recyclable paper sleeves and will stay firm in hot food for 25 minutes and 45 minutes in cold food before melting.
IncrEdible Eats’ Founder
The founder of IncrEdible Eats is Dinesh Tadepalli, an Indian who migrated to the United States of America. He founded the business in February 2019 with the aim of reducing the quantity of single-use plastics in landfills.
Dinesh Tadepalli has studied Bachelor of Engineering at Anna University. He also attended the University of Southern California where he did his Master of Science in Electrical Engineering. Later, he started working at SanDisk in 2015 where he worked as a Staff Design Engineer.
IncrEdible Eats During Shark Tank
Dinesh Tadepalli entered Shark Tank and sought $500,000 in exchange for a 7% stake in his business. In his pitch, he explained his mission of reducing plastic in landfills and the concept of his business.
When he presented the Sharks with samples of IncrEdible Eats, the Sharks loved them and agreed that the products are amazing. However, Kevin O’Leary was not pleased with the scale of education that would be necessary for people to understand the products of IncrEdible Eats.
Still, he offered Dinesh $500,000 in exchange for a 35% stake in the business. Mark Cuban also offered a deal of $500,000 in exchange for a 20% stake in IncrEdible Eats. Lori Greiner counter offered $500,000 in exchange for a 15% stake in the firm. Meanwhile, Daniel offered $500,000 in exchange for a 25% stake.
Dinesh, facing a situation that has almost never happened on a Shark Tank episode, has to decide between the four offers presented to him. He decided to counter them all, offering $500,000 in exchange for a 12% stake if any of the Sharks agreed. Nobody agreed to this offer.
Dinesh Tadepalli then decided to agree to Lori Greiner’s deal, which was $500,000 in exchange for a 15% stake in IncrEdible Eats.
What Happened to IncrEdible Eats After Shark Tank Deal?
After the deal at Shark Tank, IncrEdible Eats has seen an 18% growth. The demand for the products of IncrEdible Eats has also increased, due to which the manufacturing of the products has also increased and quickened.