Pizza Pack Shark Tank Net Worth- What Happened to Pizza Pack After the Shark Tank?
Pizza Pack Shark Tank Net Worth
Pizza Pack is still in business, and its net worth is estimated at $1 million based on their valuation. Pizza Pack is a company founded by Tate Koenig in 2022, which produces collapsible pizza containers and trays.They are a collapsible, expandable, and reusable pizza storage container that is fridge and microwave safe.
The founder appeared on Shark Tank USA Season 14 Episode 1, where they asked for $100,000 in exchange for 10% equity, with an estimated valuation of $1 million.
Lori Greiner invested in Pizza Pack and secured a deal for $100,000 for 13% equity, valuing the company at $769,231.
However, it is mentioned that Pizza Pack makes around $250,000 in annual revenue and this should increase by at least 20% due to the publicity from Shark Tank.
Pizza Pack is still in business and can be purchased on Amazon, Etsy, Walmart, and its official website CheeseChopper.com. The parent company of Pizza Pack is Cheese Chopper LLC which was founded by Tate Koenig.
What Is Pizza Pack? Who Is The Founder Of Pizza Pack?
Pizza Pack is a reusable pizza storage container that comes with five microwavable serving trays and adjustable pizza slice containers to organize and save space. It is designed to keep leftover pizza fresher for longer, and it comes in eight different colors.
The individual separators make it easier to save different types of pizza in the same container, and it can be used for other food items as well. Pizza Pack is fridge- and microwave-safe, meaning it can accompany your leftovers for every step, from storing to reheating.
The Pizza Pack is made of expandable silicone that is BPA-free and nontoxic. It can store up to five standard-size slices stacked in a single container. The divider trays keep the slices separate, preventing cheese or sauce from one slice sticking to the bottom of another.
The trays also double as plates in case you want to reheat a single slice. Each pizza container collapses and expands to accommodate the number of pizza slices you have, making it perfect for storing leftover pizza without taking up too much space in your fridge.
Pizza Pack was featured on Shark Tank and has gone viral on TikTok within hours. It has received positive reviews from customers who love its design and functionality.
Customers have reported that they were able to fit more than eight pieces of pizza in the container, making it an excellent solution for those who eat a lot of pizza.
Tate Koenig is the founder of Pizza Pack. He is also known as the “Pizza King” and formerly known as “Mr Cheese”. Koenig graduated from Oregon State University and is the co-founder of Citizens of the World, a non-profit organization.
Koenig was frustrated with the hassles of storing and reheating leftover pizzas, which led to the invention of Pizza Pack. The product consists of a collapsible triangular-shaped container that can store pizza slices and reheat them in the same container.
Pizza Pack started selling containers in April 2022 and has gained many satisfied customers. Between April 2022 and Tate’s appearance on Shark Tank, he had apparently sold products worth over $250,000.
What Happened To Pizza Pack At The Shark Tank Pitch?
Tate made his second appearance on the television show Shark Tank, having previously appeared as “Mr. Cheese.” He pitched his new product, the Pizza Pack, to the sharks, asking for $100,000 in exchange for a 10% stake in the business.
The Pizza Pack is designed to hold up to five slices of cheese, of varying sizes, with separators to prevent them from sticking together. The product is made of silicone material and is washable and microwave safe.
The sharks were impressed with the product and its margins, with Lori offering a deal for 20% equity, and Mr. Wonderful offering a deal for 10% equity and a royalty of $1 per unit.
Daymond inquired about sales, and Tate revealed that the company had made $250,000 in the last few months, with a production cost of $4 per unit and a selling price of $24.99.
Mark Cuban offered to buy the company for $1.5 million, but Tate declined, as he believed he could make more by continuing to grow the business.
When Lori asked about the reason for the funding, Tate explained that he needed the money to increase inventory due to the high demand for his product. Tate accepted Lori’s offer of $100,000 for a 13% equity stake, and the deal was made.
What Happened To Pizza Pack After The Shark Tank Pitch?
According to the search results, Tate Koenig appeared on Shark Tank twice. During his first appearance in Season 12, he did not receive any investment from the sharks because his product was not useful. However, during his second appearance in Season 14, he pitched his new product called Pizza Pack and received an investment of $100k for 13% equity from Lori Greiner.
The Pizza Pack is a durable and reusable pizza storage container that is fridge and microwave safe. It collapses and expands to accommodate the number of pizza slices you have, making it perfect for storing leftover pizza without taking up too much space in the fridge.
After appearing on Shark Tank, Pizza Pack became very popular. It held the number one position on Amazon for Kitchen Gadgets over the weekend after the show aired. The product sold out and would take three weeks to ship new orders.
Since launching in April, Pizza Pack has generated more than $250,000 in revenue with almost all of its sales coming from online e-commerce sites like Amazon.
There is no recent update on what happened to Pizza Pack after Shark Tank. However, Tate Koenig sacrificed the possibility of selling his business for $1.5 million dollars to Mark Cuban by making a deal with Lori Greiner.
Is Pizza Pack Still In Business?
Yes, Pizza Pack is still in business as of November 2022. The company offers a collapsible pizza container that stores a number of pizza slices in separate portions and comes with 5 microwavable divider trays.
The current net worth of Pizza Pack is approximately $1 million, as per the founder, but shark valued it at $770,000.
Pizza Pack started selling the containers in April 2022 and has gained many satisfied customers. Between April 2022 and Tate’s appearance on Shark Tank, he had apparently sold products worth over $250,000. A Pizza Pack container is available in six attractive colors and costs $22.99.
