Pizza Pack Update | Shark Tank Season 14

Leftover pizza often ends up in bulky boxes that take up too much space in the fridge. This inspired Tate Koenig to create Pizza Pack. This collapsible, pizza-shaped container saves storage space while keeping slices fresh, offering a practical solution for pizza lovers. Will Tate’s innovative storage solution win the sharks’ support? Let’s dive into our Pizza Pack update and pitch recap to find out.

If you’re short on time, here’s a quick overview of what happened to Pizza Pack after Shark Tank.

Tate pitched Pizza Pack in Shark Tank Season 14. He sought $100,000 for 10% equity in his consumer goods business. After his presentation, he made a deal with Lori Greiner for $100,000 for 13% equity.

In terms of a Pizza Pack update, the company expanded its distribution by partnering with major retailers like Amazon and Walmart. Further, shortly after airing Pizza Pack sold about 22,000 units!

Shark	Result
Lori Greiner	Accepted offer of $100,000 for 13% equity
Daymond John	$100,000 for 25% equity
Mark Cuban	$1.5 million to buy the entire business
Kevin O’Leary	$100,000 for 10% equity, with a $2 royalty per unit until recouping $100,000, then $0.50 per unit in perpetuity.
Barbara Cocoran	No offer
Robert Herjavec	No offer

Shark Tank Pizza Pack Pitch

• Entrepreneur: Tate Koenig
• Business: Food Storage / Pizza Containers
• Ask: $100,000 for 10% equity
• Result: $100,000 for 13% equity
• Shark: Lori Greiner

Tate stepped into Shark Tank with a resolve to change the way pizza lovers store their leftovers.

He is seeking a $100,000 investment to scale production and improve distribution, ensuring his product reaches more pizza lovers nationwide.

Tate first appeared on Shark Tank Season 12, Episode 21 with the Cheese Chopper, but the product only had pre-orders, which contributed to its failure.

However, this time, he returned with Pizza Pack, a collapsible container for storing pizza slices.

The container keeps pizzas fresh with an airtight seal. Its collapsible design saves space in the fridge.

Divider trays make it easy to reheat slices without disturbing others.

The pack is made from food-grade, BPA-free silicone. It is reusable, dishwasher-safe, and eco-friendly.

Unlike his previous pitch, this time, Tate came prepared with solid sales data and positive customer feedback. Each unit costs $4 to produce and retails for $24.99.

The business was launched in April 2022 and has already generated $250,000 in sales.

He sells on his website, Amazon, and Walmart’s website. His customer acquisition cost is just $2.83, and his projected profit from existing sales is $60,000.

Advertising is done through social media, and Tate holds pending utility and design patents to protect the product.

While knock-offs have appeared, he has successfully eliminated all but one and expects full patent approval to resolve the issue.

Tate owns 35% of the company, while two partners hold the remaining shares after investing $25,000 each.

The business has no debt, but Tate needs a shark’s investment for inventory and connections to expand into national pizza chains.

Barbara Corcoran says she doesn’t understand the business. She’s the first shark to exit the negotiations.

Robert Herjavec says he doesn’t invest in a single-product company. He’s out.

In contrast, Kevin O’Leary offers $100,000 for 10% equity, with a $2 royalty per unit until recouping his investment, then $0.50 per unit in perpetuity.

Mark Cuban says he wants to buy the entire business but gives Tate some time to come up with a figure.

Tate comes back with $5 million. Mark counters with $1.5 million. Tate is not interested.

Daymond John offers $100,000 for 20% equity, later adjusting to 25%.

Meanwhile, Lori Greiner calls the product a hero and offers $100,000 for 15% equity, which she then adjusts to 13%. Tate counters with 12.5% equity, but she refuses.

Ultimately, Tate accepts her offer of $100,000 for 13% equity.

Keep reading our Pizza Pack update to see what happens next.

Shark Tank Pizza Pack Update

Our Pizza Pack update found that the deal with Lori Greiner successfully closed, providing Pizza Pack with both capital and strategic guidance.

Shortly after airing, Pizza Pack sold around 22,000 units! Further, it received substantial media attention, including features in Food Republic and Looper.

The company has expanded its product line to include items like The Cheese Chopper and pizza-themed merchandise.

Furthermore, they expanded their distribution channels by partnering with major retailers such as Amazon and Walmart.

Our research into the Pizza Pack update found that the company sells around 2,000 units a month on Amazon alone, which is around $600,000 in annual revenue.

Products can be found on the Pizza Pack website and online retailers like Amazon.

If we get more news for our Pizza Pack update, we will let you know!

Before you go, be sure to check out updates from the other companies featured in Shark Tank Season 14 Episode 1.

• Kent Update
• Oogiebear Update
• The Woobles Update

Don’t forget to check out our Season 14 products page too!