Whatever Happened To Pizza Pack From Shark Tank?
The "Pizza Pack" is the sort of simple but well-executed invention that manages to attract ravenous attention from at least one member of the "Shark Tank" panel. Essentially a specialty piece of microwave-safe tupperware, the "pack" is designed to fit a pizza slice perfectly while allowing heat to circulate and cook all slices. It also contains built in plates that allow users to stack and serve slices, as well as a specially designed lid that prevents moisture from making the crust soggy. Koenig sought $100,000 to scale up his inventory, offering 10 percent of the company in return.
In its first live outing, the show boasted a rare six-shark bench consisting of the show's core investors — Robert Herjavec, Daymond John, Lori Greiner, Kevin "Mr. Wonderful" O'Leary, Barbara Corcoran, and Mark Cuban. Corcoran quickly withdrew her interest, as did Herjavec, who cited the lack of additional products to invest in. To the thunderous applause of the audience, O'Leary requested a royalty deal, which Greiner countered with an offer of $100,000 for 20 percent. Then Cuban threw a sharp curve ball.
Expressing his distaste for investing in inventors, Cuban told Koenig to name his price for 100 percent of "Pizza Pack." After a tense commercial break, Koenig offered it to Cuban for $5 million — five times his initial valuation. Cuban declined, and withdrew. John attempted to pitch a 25 percent deal, but Lori Greiner quickly emerged as the clear choice for Koenig. He left with $100,000 in exchange for 13 percent of the company.