Tate Koenig first appeared on Shark Tank in season 12 to pitch his product, Cheese Chopper. Although he didn’t get a deal, he didn’t give up. Tate returned in season 14 to show his latest venture, Pizza Pack. This time around, things went much better as he bagged a deal with Lori Greiner. As of 2022, Pizza Pack is worth $1 million.
About the Founder
Hailing from Portland, Oregon, Tate Koenig is a farm owner and lumber broker. After graduating from Canby High School, he studied entrepreneurship and international business at Oregon State University.
While still in high school, he worked as a mechanic at a shop called Hubbard Auto and Electric. He became a lumber broker after getting his bachelor’s degree in 2012 and worked for firms including Shelter Products Inc. and Bridgewell Resources.
In early 2020, he created the Cheese Chopper, an all-in-one solution for storing, shredding, and slicing cheese.
Founding the Company
Cheese Chopper earned decent success despite not getting a Shark investment. This inspired Tate to keep looking for new ideas. The next product he made was a solution for leftover pizza storage.
The savvy entrepreneur noticed that when there was leftover pizza, people would just use the same box it came in to put it in the fridge. It was impractical as it used too much space. Plus, it ruins the pizza’s quality.
So, he created the Pizza Pack, a collapsible container that features divider trays and a lid with a vent. Upon releasing the product in 2022, he used the advice the Sharks gave him for his first business. This helped him make $250,000 in sales within months.
Shark Tank Appearance
Not long after launching his second startup, Tate Koenig decided to return to Shark Tank. This time, he knew his company was ready. He appeared on the premiere episode of season 14, seeking $100,000 for a 10% equity stake.
He was one of the first entrepreneurs to present in front of a live audience. This was the first time Shark Tank has used a live audience before and the format didn’t work well. Hearing people cheering in the crowd every few minutes was interrupting the pitches. Nevertheless, Tate’s pitch went well considering the circumstances.
Both the Sharks and the audience members liked the product. Mark Cuban wanted to buy the entire company but Tate wanted $5 million. Cuban responded with a fair offer of $1.5 million. The founder rejected it and accepted Lori Greiner’s offer of $100,000 for 13%.
After Shark Tank
Pizza Pack’s episode just aired on September 23rd, 2022, and can’t confirm the deal with Lori has closed yet. Currently, it is available online on Amazon, Etsy, and Walmart. Pizza Pack can also be purchased on the official website, CheeseChopper.com.
Tate filed a patent to protect his idea but it hasn’t been granted yet. Since the product is relatively simple, knock-offs are expected to flood the market. The pizza storage container comes in six colors and sells for $22.99. Two of the colors have already sold out! The company released new products such as mini food slicers, t-shirts, collapsible containers, and walnut coasters.
The pizza product has a 4.5-star rating from 457 reviews on Amazon. The episode was just filmed so there hasn’t been much news yet. Typically websites such as Forbes and CNBC interview the founders within a few weeks after the episode airing.
Pizza Pack makes around $250,000 in annual revenue and this should increase by at least 20% due to the publicity from Shark Tank. According to LinkedIn, Tate is still working as a lumber broker at Idaho Pacific Lumber Company. Only time will tell if he was right to turn down Cuban’s $1.5 million offer!
