Pizza Pack Shark Tank Update

Who doesn’t love Pizza? Even more so, we end up mostly ordering more than we can eat. What do you do then? Stop wasting the Pizzas just because you could not store them!

Now it’s possible and handy to store your remaining Pizza slices in the “Pizza Pack” which is collapsible and holds up to 5 pieces in three sizes and is BPA free, Microwave, and Dishwasher safe too. Love this idea as it allows us to not waste food and be able to store, reuse and reheat it to have them later. Tate Koenig came up with this wonderful Pizza Pack idea, did he manage to get the Sharks Investment pack as well?

Pizza Pack at a glance.

Business ideaPizza Pack  – Food Container.
FounderTate Koenig
Asked for$100,000 for 10%
Accepted deal$100,000 for 13%
SharksLori Greiner
Business statusIn business
EpisodeSeason 14, Episode 1
WebsitePizza Pack
Buy on AmazonBuy Now!
Pizza Pack at a glance

Index:

Founder Story:

Tate Koenig is a brilliant and seasoned innovator, known to have already launched his product in creative ways. This was not his first but the second leg of innovative ideas at Shark Tank. First being the Cheese Chopper, he knew the background and work required to make it a successful venture.

Famously known as Mr.Cheese came up with the new idea of storing Pizza slices in a collapsible pack. The idea of a silicone pack was an ingenious one and allows us to save space, store food, and best of all not waste them. The product design is fantastic as it’s a perfect solution to safely store Pizza slices and reuse, reheat and eat at your convenience.

Did Pizza Pack get a deal on shark tank?

Tate comes into the Shark Tank stage as a known contestant, and that’s true. Tate’s second visit was his second appearance and the first one was known as Mr.Cheese. Tate Koenig is here today at the shark tank episode for a pitch of $100,000 for 10%. Demonstrating his product to the sharks, the Pizza Pack can hold up to 5 cheese slices of three different sizes and can keep them separated by plates, its seal pack cover, and a small opening to keep contents away from humidity. Both are Washable and can be heated in a Microwave can be reused safely as it is made up of silicone material.

Lori is very much interested in the Pizza Pack business and is impressed with the product design and offers at 20% equity. Mr.Wonderful, wants Tate to work with him, on the new opportunity at 10% equity and expects a royalty of 1$ per unit. There is no response.  Daymond enquires about the sales, and Tate is quick to respond we have done $250,000 in the last few months which is really good. Our costs are $4 per unit and sold at $24.99 in the market. The sharks are impressed with the margins in the business.

See also  Dragons' Den Fails: Pitches that went wrong and what we can learn from them

Mark Cuban makes an extraordinary offer to buy the company at $1.5 Million and he can sell the business and walk away. Tate thinks and realizes he can make more and does not get into that trap.

Lori enquires why does he need this money, and the response was inventory as his products are selling rapidly and he was to scale his inventory to make up for the demand in the market quickly. Tate clearly mentions “ Hear for the dough”. More investments to increase his inventory. Lori reacts with 15% equity and Tate counter offers with 12.5%, where Lori makes a final offer of $100,000 at 13% equity. Tate accepts the offer from Lori happily and seals the deal.

What happened to Pizza Pack after shark tank?

Lori was able to bring the right momentum for Tate and the Pizza Pack product in the market. The Shark Tank episode gave the much-needed push to improve awareness and orders of the product.

The product is now widely available at Amazon, and also on their own website of Tate Koenig along with Cheese Chopper.

Product details:

  • Hold 5 Pizza Slices, separated by serving trays (microwavable).
  • Introduced additional colors, now available in 6 colors.
  • BP Free, Dishwasher and Microwavable – silicone pack.
  • Airtight lid, with a small hole, to let heat vent out if pizza is hot and not get soggy.
  • Fits all Pizza up to 18 inches in it. Also a Space Saver, Pizza Saver.

What is the net worth of Pizza Pack?

The current net worth of Pizza Pack is Approx. $1 million, as per the founder, but shark valued it at $770,000.

Is Pizza Pack still in business?

Yes, this company is doing great on Amazon and has now been introduced in six colors too. Tate patents are already filed and expect their grant soon. Products are available on Etsy and Walmart and already exist on Amazon. In Aug 2022, the product lines have been added collapsible containers, t-shirts, and coasters too, and may continue to develop their product further in the future.

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FAQs:

What is Pizza Pack?

Pizza Pack is a silicone pack an ingenious one and allows us to save space, store food, and best of all not waste them. The product design is fantastic as it’s a perfect solution to safely store Pizza slices and reuse, reheat and eat at your convenience.

What's the net worth of Pizza Pack?

The current net worth of Pizza Pack is Approx. $1 million, as per the founder, but shark valued it at $770,000.

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