Cooking your own meal can be very gratifying, but there’s a reason why many call it a chore. It can leave quite a mess with all the ingredients and preparation. Prepdeck was invented to be the complete meal prep system to keep things tidy in the kitchen. Founder Alexander Eburne pitched on Shark Tank but couldn’t reach a deal. As of 2022, Prepdeck is worth $17 million.
About the Founder
Alexander Eburne is a serial entrepreneur who is originally from Sydney, Australia. Not much is known about his educational background, but he came to Los Angeles, California over a decade ago. He started his entrepreneurial journey in 2000 founding a company called Zealous Works.
He quit the business after five years to become a consultant at TGBN Mergers & Acquisitions. Then, he was hired as a business development manager at Axis Telecommunications. This was his last job in Australia, as he left in 2007 to become the VP of Sales and Marketing at EcoSmart Fire.
In 2009, he served as CEO of Harbor Outdoor, an Australian outdoor furniture manufacturer. He left in 2011 to return to EcoSmart Fire and took up his second CEO role.
Founding the Company
When Alexander got married to his partner Christine, he frequently used the kitchen and left it disheveled on numerous occasions. His wife always cleaned up after him, but everything changed when she got pregnant.
Christine didn’t want to spend time cleaning the kitchen, so it was up to her husband to take care of the mess. Alexander realized that there was no tool that could help someone like him cook in a more organized way.
This sparked an idea and by early 2018, Prepdeck was born. Prepdeck is an organizing kit complete with ingredient containers, measuring tools, and other cooking utensils. He launched a crowdfunding campaign on IndieGoGo with hopes of raising $25,00 but ended up raising nearly $360,000. Within two years, he hit $7.2 million in sales.
Shark Tank Appearance
In 2021, Alexander Eburne was projecting $10 million in revenue. Still, he needed money for three things: more inventory, product development, and to hire more staff. Alexander appeared on season 13 of Shark Tank, seeking $750,000 for 7.5%.
The Australian entrepreneur’s sales really caught the attention of the Sharks. They quickly realized Alexander is a savvy businessman but the Sharks didn’t like the valuation and some weren’t familiar with the industry.
Kevin O’Leary was the only Shark to make an offer, he proposed a $750,000 loan with 9.5% interest and a 5% equity stake. Eburne tried to counter, but Kevin didn’t budge and a deal couldn’t be made. Cuban praised him for not taking the deal.
After Shark Tank
Prepdeck was already on the right path before Shark Tank so it’s no surprise the business is still thriving. They have since introduced new products such as container sets, prepping tools and designed a mini version of the Prepdeck.
You can buy the product on Amazon and through their official website, Prepdeck.com. The strategy of bundling the products together is helping maximize revenue. The innovate kitchen brand has expanded into Canada and will eventually launch into Europe and Australia.
The new Prepdeck Gen 2 design has an average star rating of 4.8 from 978 reviews on their website. The company has done $16 million in lifetime sales and grown over 100% over the last 36 months. They are looking to raise more money on WeFunder at a $17 million valuation. The founder is projecting the business will reach $30 million in revenue by 2025.
