Storing leftover pizza has always been a concern, but not anymore. Tate Koeing has invented an innovative product called Pizza Pack that is designed to keep your leftover pizza slices fresh in the fridge.
Koeing pitched the product on Shark Tank, securing an attractive deal from Lori Greiner. Since its appearance on Shark Tank, Pizza Pack has experienced remarkable growth. Read on to find out more about the brand.
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Tate Koenig, the founder of Pizza Pack is originally from Portland, Oregon. Coming from a farming background, he completed his studies at Canby High School. Later he attended Oregon State University, where he pursued degrees in Entrepreneurship and International Business.
Before Pizza Pack, Koeing launched Cheese Chopper, a versatile tool designed to shred, store, and slice cheese in 2020.
Following the success of Cheese Chopper, Koenig continued to search for innovative product ideas. His next creation was designed to solve the issue of storing leftover pizza.
He noticed that people often kept leftover pizza in its original box, which not only occupied too much space in the fridge but also affected its freshness. To address this, Koeing developed the Pizza Pack. It is a collapsible container with a vented lid and divider trays.
Koeing launched Pizza Pack in 2022 and quickly gained traction. In just a few months, he generated around $250,000 in sales.
After launching Pizza Pack, Koenig decided to take it to Shark Tank because he believed that his company was ready for the spotlight. He appeared in season 14 of the show, where he asked for $100,000 in exchange for a 10% stake in his business.
Due to the show’s changed format, Koeing got to pitch his product in front of a live audience. However, the show’s format wasn’t ideal as the crowd’s cheers disrupted the flow of the presentations. Despite the challenges, Koeing delivered a strong pitch, impressing the investors.
The Sharks liked the product so much that Mark Cuban offered to buy the entire company. Koeing wanted $5 million, but Cuban countered with a $1.5 million offer. As expected, Koeing declined the offer. Instead, he settled a deal with Lori Greiner, who offered him $100,000 for 13% equity.
After the airing of the episode, Pizza Pack gained immense popularity among customers. Currently, the product is available for purchase online through sites like Etsy, Amazon, and Walmart. Customers can also purchase the product from the official website, Pizzapack.com.
As per reports, Koeing has filed for a patent to protect his invention. The Pizza Pack comes in eight different colours and is priced at $23.99. The company has also expanded its product line to include collapsible containers, mini food slicers, walnut coasters, and t-shirts.
Pizza Pack is very much in business and generating a good amount of profit. The company has a 4.4-star on Amazon.
Reports state, Pizza Pack generates around $250,000 in yearly revenue. This figure is expected to rise by at least 40% in the coming years.
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