Nick Taranto and Josh Hix, two Harvard Business School grads, pitch Plated, their pre-portioned, gourmet meal delivery service, in Shark Tank Episode 528 on April 4. What Plated does is take gourmet dishes from famous chefs and delivers the ingredients to your door for “easy assembly.” This allows people to make fancy meals without the hassle of shopping for specialty ingredients.
The pair founded the company in 2012 and services around 80% of the continental USA. They use locally sourced ingredients when possible and ship each meal fresh. Plated offers a subscription based program or “à la carte” for $10-$14 per plate. Enter your zip code on the Plated website and you’re given the available menu options for the week. It’s a pretty simple process.
The Plated founders apparently put their business school educations to work: they got $5 million in venture capital funding since opening their doors. The company joins a growing list of subscription meal kit companies springing up to meet the needs of people who want fresh, healthy meals from locally sourced ingredients but don’t want to bother with shopping or meal planning. They’re likely looking to the Sharks for added cash for further expansion.
Plated Shark Tank Recap
Nick and Josh will pitch the panel of five Sharks on their business and its prospects for growth. They’ll need to convince Mark Cuban, Lori Grenier, Kevin O’Leary, Barbara Corcoran, and Robert Herjavec that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but they’ll need to show them THEY are capable of running the company to “Shark standards.” A full pitch re-cap on Plated will be available on Shark Tank Blog once this episode airs.
Plated Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Plated, Nick Taranto and Josh Hix as more details become available.
Posts About Plated on Shark Tank Blog