Grease Bags are bags designed to collect and dispose of household grease. And they’re compostable! The inventor of Grease Bags, LaTangela Newsome, came up with the idea after struggling to find a way to dispose of grease after making her famous deep-fried chicken wings. She pitched her business on Shark Tank in January 2017. She went into the Tank seeking a $75,000 investment in exchange for 25 percent equity. Newsome made a deal ($75k for 50 percent) with bacon-loving Barbara Corcoran, contingent on Newsome being able to sell a pack of three Grease Bags for $6.99.
Since Shark Tank, Newsome has been able to reduce the price of a 3-pack of Grease Bags from $19.99 to $12.99. It’s still a pretty good deal considering each bag absorbs up to 32oz. of oil. That’s a lot of chicken wings! In December, Grease Bags apologized to customers whose products have been ready to ship since September but there’s but a major distribution snafu. “We have truly been going through a mini nightmare!” (See full post below.) That said, Grease Bags promises customers will receive what they paid for. They also mention that they’ve been able to solve their problems by using a new assembly center in Dallas, which happens to be an affiliate company of Mark Cuban’s. New episodes of Shark Tank (Season 9) air Sundays at 9pm on ABC.