Platetopper, a food storage solution by Michael Tseng, gained attention after its 2012 appearance on Shark Tank, where it initially secured a deal with Lori Greiner. However, the deal fell through post-show.
Despite this setback, Platetopper saw a surge in sales, leading to significant revenue growth in its early years. As of the latest update, the company is no longer in operation, with no recent valuation or acquisition details available.
Platetopper’s early success in retail and TV sales remains a notable milestone, but the business ultimately did not sustain long-term growth.
PlateTopper’s Net Worth
Estimated Net worth | $1.8 million (Business Valuation) | |
Lifetime sales | Not available | |
Investor | Lori Greiner | |
Founder | Michael Tseng | |
Employees | Not available |
PlateTopper’s Pitch on Shark Tank
Company name | PlateTopper’s |
Product | Airtight plate covering |
Episode | Season 04 Episode 08 |
Founder | Michael Tseng |
Asked for | $90,000 for 5% equity |
Final deal | $90,000 for 8% equity |
Shark | Lori Greiner |
Location | 615 Hampton Drive, Suite A101, Venice, FL, United States |
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PlateTopper’s Founder
PlateTopper was founded by Michael Tseng in 2008. He is very passionate about his business. He worked hard to grow his business. PlateTopper’s founder, Michael Tseng net worth is unknown as of 2024.
Key accomplishments
Year | Accomplishment |
2015 | winner in Walmart’s Get On The Shelf contest. |
2012 | Appeared on Shark Tank. |
Conclusion
Some companies that appear on the show have not achieved great success, and the PlateTopper’s was one of them. Sometimes businesses don’t succeed for many reasons. Sometimes, the deal falls through after the founders say yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves, and they choose to abandon the business. Anything is possible. However, PlateTopper went out of business in 2015. And the product is no longer available in the market.