Petplate update shark tank

PetPlate Dog Food Delivery Update | Shark Tank Season 8

Renaldo Webb was disturbed by the low-quality ingredients being used in commercial dog food. This realization led him to create PetPlate, a service that delivers freshly made, human-grade dog meals directly to customers. This solution provides healthier, high-quality nutrition for pets, ensuring they get the best possible meals. Will the sharks see the value in this innovative pet care service? Let’s dive into the PetPlate update and pitch recap to find out.

SharkResult
Lori GreinerNo offer
Robert HerjavecNo offer
Chris SaccaNo offer
Mark CubanNo offer
Kevin O’LearyNo offer

Shark Tank PetPlate Pitch

Shark Tank PetPlate Update
  • Entrepreneur: Renaldo Webb
  • Business: Human-quality pet food delivery service
  • Ask: $100,000 for 10% equity
  • Result: No deal
  • Sharks: None

Renaldo stepped into Shark Tank with his dog, Winston, looking for an investment to grow his fresh, human-grade dog food delivery service, PetPlate.

He wanted to tap into the sharks’ expertise to help scale his direct-to-consumer business.

PetPlate offers freshly made, human-grade meals for dogs, customized to fit each dog’s age, weight, and health needs.

The meals are available in beef, chicken, turkey, and lamb. They are all formulated to meet AAFCO standards and use USDA-certified, all-natural ingredients with no fillers or preservatives.

The service includes convenient auto-shipping, which can be paused, skipped, or canceled anytime.

It also comes with a 100% money-back guarantee and solid customer support.

PetPlate is designed for dog owners who care about their pets’ nutrition but may not have the time or know-how to prepare proper meals.

Each meal costs $10 to produce and sells for a minimum of $40, giving the company a healthy 75% profit margin.

Renaldo proudly shared that PetPlate had gained over 100 subscribers in just eight months, but the sharks had reservations.

Kevin O’Leary immediately raised concerns, noting that scaling the business would require a lot of money.

Having faced similar challenges with another company, Plated, Kevin decided to exit the negotiations.

Robert Herjavec also had doubts, especially about the limited delivery model and the low number of subscribers, so he dropped out.

Lori Greiner appreciated Renaldo’s passion but wasn’t sold on the business model and passed as well.

Chris Sacca was impressed, even calling Renaldo a “dream partner,” but he declined to invest due to a conflict with his investment in Uber’s delivery service.

Mark Cuban was the last to exit. While he liked Renaldo, he couldn’t commit to the business’s round-the-clock demands and decided to pass.

With no deal in hand, let’s get a PetPlate update to see how Renaldo is doing today.

Shark Tank PetPlate Update

Our PetPlate update found that despite not getting a deal on Shark Tank, the company grew quickly after airing.

Prior to airing, PetPlate served 100 customers within a 300-mile radius of New York City. Shortly after, it was shipping 300-400 meals per month across the country.

In 2018, Renaldo raised $4 million in venture capital to fuel the company’s growth.

We received an official PetPlate update segment in Season 10, during which Renaldo revealed that the company had scaled even more. They are now shipping 3,000-4,000 meals monthly nationwide.

In February 2020, PetPlate secured $9 million in funding from investors, including General Mills’ venture capital arm.

This allowed PetPlate to meet growing demand and continue expanding.

In 2021, PetPlate partnered with Paramount Pictures to create packaging themed around the popular family film Paw Patrol: The Movie.

Later that year, the company raised another $19 million to help expand into retail.

Our PetPlate update research found that as of May 2023, PetPlate had sold over 15 million meals across the U.S., with annual revenue surpassing $9 million.

At the time of writing, PetPlate had raised a total of $47 million and had sold more than 18 million meals.

Despite the sharks’ initial skepticism to offer Renaldo a deal, we are calling this PetPlate update a success.

For more updates from Shark Tank Season 8 Episode 10, be sure to check out:

Before you go, check out our Shark Tank Season 8 page for more updates

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Andrew is a lifelong fan of Shark Tank and an entrepreneur at heart. He started Shark Tank Recap because he wanted a single place to track what happens to the companies, founders, and deals after they air on TV. With a sharp eye for business insights and a passion for all things Shark Tank, Andrew makes sure every recap is accurate, engaging, and fun.