Pizza Pack is a collapsible pizza container that perfectly stores a number of pizza slices. Its snap-on airtight lids create a vacuum seal to keep the pizza slices fresh for a long time. Tate Koenig appeared in Shark Tank Season 14 Episode 1 about his product pizza pack.
Tate Koenig is the founder of The Cheese Chopper and this company’s product is Pizza Pack Container. Tate appeared in Shark Tank Season 12 Episode 20 with his product Cheese Chopper but did not get the investment.
In the first episode of Shark Tank Season 14, he appeared with his new product Pizza Pack with a new hope to raise funding.
After eating the pizza, we store the extra pizza slices in a box and keep it in the fridge so that they can eat it later. If more pizza slices become, then we need more boxes, it uses more space in the fridge. An air-tight container is required to keep the pizza in perfect and fresh condition.
The Pizza Pack was born to solve the space and fresh problem of the pizza container.
Entrepreneur asked Shark for pizza pack $100K for a 10% equity and $1 million valuation. This is an average valuation of this product.
What Is Pizza Pack?
A pizza pack is a collapsible pizza container that stores a number of pizza slices in separate portions. The peach pizza pack comes with 5 microwavable divider trays that separate the peach slices so that they stick together.
This container has snap-on airtight lids which create a vacuum seal that keeps each slice of pizza fresh for a long time. Apart from this, the option of an air vent has been given in every Collapsible pizza container.
These reusable pizza boxes are made with non-toxic, BPA-free, food-grade silicone which is odorless, leak-proof, and non-stick.
|Company Name||Pizza Pack|
|Product||Collapsible Pizza Container & trays|
|Asked For||$100k for a 10% equity|
|Final Deal||$100k for a 13% equity|
|Episode (Shark Tank USA)||S14 E1|
|Air Date||Sep 23, 2022|
|Business Status||In Business|
|Headquarters||Portland, Oregon Metropolitan Area, US|
|Go To Amazon||Buy Now|
Another Shark Tank Pitch
Who Is The Founder Of The Pizza Pack?
Tate Koenig is the Founder & CEO of The Cheese Chopper. In 2009, he became the co-founder of Citizens of the World (a Non-Profit Organization) and is currently its president.
Tate invents a new product in 2021, the Pizza Pack.
Tate completed his Bachelor of Science in Business from Oregon State University in 2012. Prior to college, he had worked in Hubbard Auto and Electric. TK Orchards Company.
After completing his business studies, he joined Shelter Products Inc in 2013 as a lumber broker.
Since 2002, he is the Operations Manager of the Full Contact Fighting Federation. Idaho Pacific Lumber Company has had a lumber broker since 2018.
Tate is the President of Citizens of the World (Cow). He is a lumber broker for Resources LLC and Idaho Pacific Lumber Company.
Pizza Pack Before Shark Tank
Tate appeared for the first time in Shark Tank Season 12 Episode 20 regarding the Cheese Chopper Company, although he did not get investment from Shark.
Tate did not give up, he through his hard work invented a new product called Pizza Pack which is a Collapsible pizza container.
In 2022, he bought a farm where he lives with his girlfriend and baby. They do the farming of different types of food in their form like hazelnut, besides they have also found goats.
According to the entrepreneur, his new product Pizza Pack is very much liked by people and many people are also buying this product.
Tate once again made up his mind to appear in Shark Tank Season 14 so that he could take investment from sharks.
How Was The Shark Tank Pitch Of Pizza Pack?
Tate Koenig entered Shark Tank with a pizza pack and asked Shark for $100k for a 10% equity and a $1 million valuation. He pitched his product to Shark and also told him that he has come in season 12.
The landed cost of making this product together is $4 and it is sold for $24.99. This product is quite expensive in this price range but its profit margin is very good. To sell more, its price has to be reduced.
The product was launched in April and so far it has sold a total of $250,000. All these sales have come through online e-commerce sites such as Amazon. Its average customer acquisition cost is only under $2.83 dollars. So far they have made a profit of $60,000 from these sales.
His utility and design patents are currently pending. He has three business partners. Shore has only a 35% stake. He has invested $25,000 in this business in his own money.
Entrepreneurs have come to Shark Tank because they need more inventory of the product.
Barbara Corcoran did not like this product so much that she walked out without making any offer. Robert Herjavec also went in the same direction Barbara had gone so he is out of it.
Kevin O’Leary told Tate Koenig your last product was a loser but this product is a winner, he will offer one. Kevin’s offer was $100k for 10% equity and he wanted a royalty of $2 dollars per unit until his investment is returned Then the royalty would drop to 50 cents in perpetuity.
Lori Greiner decided that she would make the offer and did not require any royalty her offer was $100,000 dollars for 20% equity.
Mark Cuban said that he should have bought the Entier company. Mark told Tate Koenig how much money do you need to sell to the entire company, if it gives a valid number then Mark will buy it. Tate Koenig told Mark Cuban that he would sell the company for $5 million.
Daymond John also made an offer for this business of $100,000 for a 25% equity. Lori Greiner converted her old offer to make an offer of $100k for a 15% equity. Tate counters to Lori that you can come in the middle of it. Lori said that 13% equity then Tate agreed to this offer of Lori.
Finalize: Lori Greiner invested $100K in Pizza Pack for 13% equity.
What Happened To Pizza Pack After Shark Tank?
When Tate Koenig appeared in Shark Tank Season 12, he did not get investment from sharks because their product was not useful. When he came a second time in season 14, he pitched one of his products, the pizza pack, and it was investable by the shark.
There was a small negotiation between Lori Greiner and the entrepreneur after that Lori Greiner invested $100k in this business in exchange for 13% equity.
Most of the sale of this pizza container is only available on Amazon’s e-commerce site. Within a few months of its launch, this product had sold quite well.
Although the sales of this product were going to be even higher due to lack of inventory, they were unable to take more orders.
All the audiences who came to Shark Tank liked this product a lot. Most of the people in these audiences will definitely buy this product. A pizza pack container is a very good product for the pizza lover.
Apart from the collapsible pizza container, this Cheese Chopper LLC is selling many more products on its website.
This includes Collapsible Meal Container, Cheese Chopper, and Collapsible Pizza Container.
This product had total sales of $250,000 by April 2022. But by September 2022, its sales will have increased even more.
The price of a pizza pack container has increased to $23.99 as of October 30, 2022. +66.9K followers Instagram user and blogger ‘Kortney and Karlee‘ promoted this pizza container product on their website.
Pizza Pack Shark Tank Update
Lori Greiner is a great partner, mentor, and investor for this business. Lori is a marketing expert, she understands the market trends, so she can definitely increase the sales of this product.
The profit margin of this product is quite high though its selling price is also expensive. According to us, to increase the sales of this product, its price will have to be reduced.
We will soon update the sales and annual revenue of the pizza pack.
What Is Pizza Pack Net Worth?
The collapsible pizza container is a unique product and is considered a great addition to every pizza lover. Analyzing its current sales, its sales are quite good, according to this we things Pizza Pack’s net worth is $769k.
Is Pizza Pack Still In Business?
The parent company of Pizza Pack is Cheese Chopper LLC which has been Appear in Shark Tank Season 12. Unfortunately, this product did not get a deal from Shark.
But the entrepreneur’s next product, Pizza Pack, found a great investor like Lori Greiner. The sales of this product were also much better than the old product, Kevin also believes these things.
In order to beat its competitor, the pizza pack has to reduce the sale price of its product. Apart from this, a good marketing strategy is needed.
Yes, Pizza Pack is still in business as of November 2022.