Plate Topper Net Worth: Success Story

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Plate Topper is a food storage container company. The company appeared on Shark Tank in 2014, seeking $90,000 for a 5% stake. Michael Tseng is the founder of Plate Topper.

What Happened on Shark Tank?

Michael Tseng went into the Shark Tank seeking an investment of $90,000 for 5% equity in his company, Plate Topper. Tseng explained that Plate Topper is designed to create an airtight seal on any plate, bowl, or serving dish. The product eliminates the need for plastic wrap or transferring food to another container.

  • Kevin O’Leary offered $90,000 for a royalty of $1.50 per unit until $180,000 is paid, then it would drop to 50 cents in perpetuity.
  • Robert Herjavec offered $90,000 for 20% equity.
  • Lori Greiner offered $90,000 for 20% equity, which Tseng countered with 12.5%, but Greiner declined.
  • Mark Cuban and Daymond John passed on the deal.

Tseng accepted Herjavec’s offer of $90,000 for 20% equity.

What is Plate Topper's Net Worth?

Plate Topper’s net worth is difficult to assess precisely. However, we can estimate its valuation based on several factors:

  • Shark Tank Deal: Robert Herjavec invested $90,000 for 20% equity, implying a valuation of $450,000 at the time of the show.
  • Sales Data: While exact sales figures are not publicly available, Plate Topper has likely seen a boost in sales due to its appearance on Shark Tank and subsequent retail distribution.

Considering these factors, Plate Topper’s estimated net worth in 2023 could be in the range of $500,000 to $1 million.

Where is Plate Topper Today?

After Shark Tank, Plate Topper expanded its distribution through:

  • Retail Partnerships: Plate Topper secured deals with major retailers, increasing its availability to consumers.
  • Online Sales: The company has a presence on major e-commerce platforms, making it easy for customers to purchase their products online.

Plate Topper is still in business and continues to offer its innovative food storage solutions to consumers. The company has successfully leveraged its Shark Tank appearance to grow its brand and expand its market presence.

Disclaimer: The net worth estimates provided here are based on available information and industry analysis. Actual figures may vary.