Our founder, Tate Koenig, appeared on the first SHARK TANK LIVE episode ever in search of some CHEDDAR in exchange for one of the sharks getting a piece of the pie. If you think that was punny, check out Tates full pitch for The Pizza Pack:
This was not Tate’s first time in the tank with the sharks. He appeared in Season 12 with The Cheese Chopper. The sharks saw potential in Tate, but he, unfortunately, swam away without a deal. Tate used this as motivation to return to the tank with an idea that was bigger and better than ever, and he DELIVERED it. This time around Tate pitched a product called the Pizza Pack. Unfamiliar with what the Pizza Pack is? We’ll fill you in…
The Pizza Pack is the next best thing in Pizza storage. Shaped like your favorite slice, the Pizza Pack allows you to store and re-heat up to 6 slices of pizza all in the SAME container. What’s the secret to the Pizza Packs’ success? Let me tell you. We pride ourselves on 4 key components:
SPACE SAVER- We know how saving space in your fridge makes all the difference. No more slamming oversized pizza boxes into your already crammed fridge.
PIZZA SAVER- Absolutely nothing is worse than the dreaded Soggy Slice Syndrome. Pizza Pack keeps your slices fresh and has an air vent to prevent condensation when reheating.
PERFECT PIZZA PLATES- Each pizza slice box comes with 5 microwavable divider trays that not only keep your slices from sticking together while being stored but double as pizza plates when you want to reheat a single slice.
ONE SIZE FITS ALL-Well…almost. The pizza pack fits slices from any pizza up to 18in. If New York slices are your thing, you can always trim down a side for that perfect fit!
Now back to business, Tate went into the tank asking for $100,000 for a 10% slice of the Pizza Pack pie. This would allow him to get more inventory in the door to get ahead of the game so that consumers like you, can enjoy the Pizza Pack without having to wait.
Tate couldn't have said it better himself, “A good pitch is just like good pizza, it's all about the delivery”. After his pitch, Lori commended Tate on his product by mentioning that it was “extremely well made”.
The first shark to make an offer was none other than Mr. Wonderful himself. Offering the $100,000, but adding on a $2 per unit royalty on each unit sold until he made his money back. After that, the royalty would drop to $0.50 per unit in perpetuity. What the heck is perpetuity? Perpetuity means that the $0.50 will be paid without any set end date.
The next shark to jump in was Lori. She offered Tate his desired $100,000 for a 20% stake in hopes that she can work side by side with Tate and his business partners. Like we said before, Lori was very impressed by the quality of the product and commended Tate on that off the bat.
After this, one of the sharks made the offer of a lifetime. Can you guess which one?
Right before the commercial break Mark Cuban asked Tate the question that all entrepreneurs dream of. How much to sell? After this it all got real. Sharks were throwing out offers and counter offers trying to snag a slice of the Pizza Pack. Daymond even mentioned having connections to major pizza brands and the NFL. You could see the excitement on Tate’s face knowing that he had created such an amazing product that so many people wanted to be a part of.
After all the offers were out on the table Lori jumped in and mentioned how much she believed in this product and wanted to be a part of it. She changed her offer to $100,000 for only 15%. Since appearing on Season 12 of Shark Tank Tate had dreamed of working with Lori. He then countered and asked to meet in the middle at 12.5%. After this Mark Cuban made an offer to buy him out for 1.5 million. Knowing that she wanted in on this so bad, Lori told Tate “13% and you've got a deal”. It was an offer that Tate couldn’t refuse. He accepted Lori’s offer of $100,000 for a 13% stake in the company.
So, what now?
Since our appearance on Shark Tank, the Pizza Pack has gained an immense amount of momentum. We are working tirelessly to get the product into our warehouse and to YOU, our consumers! We are also working on creating even more useful kitchen products to help solve even more problems for our consumers. If you haven’t already, jump on over to our website:
Check us out! Share us on your socials! Get your name on our waitlist!
Now that we’ve talked about pizza for the last 15 minutes, go order that pizza I know you’ve been craving this past week, you deserve it, but don’t forget to order your Pizza Pack to go with it.