What Happened To Plate Topper After Shark Tank?

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Plate Topper was an invention designed by entrepreneur Michael Tseng. His Shark Tank product made it on TV. After being featured on the show, he could generate much interest on his website and social media platforms

The biggest challenge for Plate Topper is now how he can continue with all the marketing and gain momentum within his company.

What is Shark Tank?

ABC's Shark Tank features aspiring entrepreneurs who pitch their businesses to a panel of potential investors, referred to as 'sharks,' which include Mark Cuban, Daymond John, Lori Greiner, and Robert Herjavec.

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Entrepreneurs pitch business ideas to the Sharks in hopes of securing funding for their business or product. Each hopeful entrepreneur gets a chance to make an offer to one or more Sharks on the panel.

The Shark Tank entrepreneurs who succeed in receiving financing and guidance from the Sharks walk away with valuable connections in addition to financial support.

What is the Plate Topper?

The Plate Topper is a see-through plate cover that is bendable and airtight, all in one convenient package. The device is safe for use in the microwave and dishwasher and may be stacked. It comes in three different sizes.

In contrast to conventional plastic containers with lids, the Plate Topper can be easily sealed to a plate or other kitchen surface, so doing away with the requirement of using cumbersome plastic wrap.

In addition, the Plate Topper is useful for cooking in microwave ovens because it helps reduce splatters.

Who created the Plate Topper?

Michael Tseng is the one who came up with the idea for the Plate Topper. Before Michael decided to go into business for himself, he had a successful career as a medical practitioner.

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So he was ecstatic when the concept of a whole new food storage system came to him just days before beginning his medical career.

The proprietor holds a degree in biochemistry. In addition, he has a degree in engineering, which may have influenced the development of his most recent concept.

After graduating from medical school, he was about to begin a career as a medical resident when the entrepreneurial spirit took hold of him. He decided to start his own medical practice instead.

He developed a plate made of microwave-safe plastic that could keep food warm for hours and called it the Plate Topper.

What happened to the Plate Topper in Shark Tank?

Michael appeared as a guest on the 8th episode of Season 4 of "Shark Tank," and the episode was named after him. He conjured a mental image of the shark's audience in his opening remark by employing a perplexing sensation.

He depicts frustration when one discovers their microwave has a splatter of food. We also highlight people's difficulties when they can't find the lids in their food storage containers.

The show begins with a preview of what is to come for the contestants and the audience. Plate Topper is Michael's response to the issued challenge.

Regular dinner plates can be converted into airtight food storage containers with the help of this apparatus. The container can float in the air without falling over because the topping creates a suction cover.

Michael explains how the topper can be used as a food storage system and how it works without making a mess in the microwave. He also explains how the microwave topper works.

Michael According to the owner, purchasing a 5% ownership stake in the company would cost $90,000. The toppers—Cake Topper, Plate Topper big, and Plate Topper mini—are all provided at no extra cost to investors.

In his pitch to the Sharks, he asks for their assistance in getting the Plate Topper components onto the shelves of the most successful retailers in the United States. After the presentation, it was time for the sharks to provide feedback.

Lori was taken aback by the discoveries, which caught her off guard. She made a $900,000 offer in exchange for a 30% ownership stake in the company, rather than the 5% that Michael was offering. 

Furthermore, she was willing to use her contacts to sell the products to the world's largest retailer.

Robert had reservations about the product's viability as a commercial venture. In addition, he despised being in a position where he lacked cash flow.

However, Lori decided to accept Michael's initial offer of assistance and accept his assistance with the project after having second thoughts.

On the other hand, the sharks demanded that Michael present an accurate valuation of the company. He had no choice but to reveal it in the end.

Michael stated that the company was only worth $15 million, a reduction from his original estimate of $30 million. As a result the Sharks were dissatisfied with the plan's overall premise.

On the other hand, Lori proposes a deal in which she will pay Michael $90,000 in exchange for an 8% stake. She only gave him a few seconds to consider whether he wanted to take advantage of the option she had presented to him. 

Michael had no choice but to accept the offer and proceed with the transaction. The show had concluded for the evening.

What happened to the Plate Topper after Shark Tank?

When Michael appeared on Shark Tank to make his pitch, he hoped to secure a $90,000 investment. But instead, he turned down every single offer made to him by the sharks.

What Happened To Plate Topper After Shark Tank

Furthermore, he lacked negotiating skills. However, despite these flaws, he was able to reach an agreement with Lori regarding a percentage ownership stake in the company.

He left Shark Tank, having already signed a deal. The business transaction, however, did not go as planned.

As a result, Michael declined Lori's offer to be The Plate Topper's primary decision-maker for the next 12 months. Lori expressed her displeasure on Twitter after learning about Michael's business dealings.

Although he could not secure a transaction that would benefit his business, Plate Topper's sales increased due to his successful pitch on Shark Tank. 

When the program was broadcasted on the radio, the company received an increase in the number of orders. As a result, sales and brand recognition both continued to rise.

In addition, sales of the company's products have increased on the websites of Amazon and Walmart.

What is the history of the Plate Topper?

Michael is meticulous in his attention to detail. He noticed that many people consistently lost their plastic caps. Furthermore, he discovered that using regular containers for food storage presented new challenges for him to overcome

Microwaves become unusable as a result of food being accidentally spilled inside. The vast majority of the containers were broken and, consequently, discarded.

On occasions, he brought up the subject, and he worked toward a long-term solution. He intended to create an innovative method of food storage that was both user-friendly and efficient.

Michael was the one who came up with the Plate Topper concept. As a result of this revolutionary piece of kitchenware, people's food storage habits were revolutionized. It ensures food safety, accessibility, and cleanliness in the kitchen.

He did this to ensure that his creation would not be used in an unapproved manner. In addition, he promoted the idea by making an appearance on QVC. 

The Plate Topper came out on top in Walmart's competition to get its product on the shelf. It is difficult to deny that the competitions were a success. Michael has decided to offer it on Shark Tank due to his overwhelmingly positive response.

How is the Plate Topper doing now?

The emergence of Plate Topper on the show Shark Tank was a significant factor in the company's subsequent ascent to recognition and success.

It was able to increase the company's overall revenue. However, despite its usefulness, this feature was inadequate to ensure the company's survival.

After Michael's request for Lori to work alongside him was turned down, everything went from bad to worse for the couple.

Customers on Amazon and Walmart both gave the company an average rating of 3.5 out of a possible 5 stars for the product or service. 

So it would appear that Michael was correct when he stated during the presentation that the product did not meet his expectations.

Additionally, it seems that Michael has shifted his focus to Prestagon LLC. The company provides various products, including those for the kitchen and the gym. On the other hand, plate toppers are no longer included in this category.

Is the Plate Topper still in business?

Plate Topper does not exist any longer as of the time that this article was written. The identical reasoning can be applied to the Ice and Bowl Toppers. Despite this, Michael has not abandoned his plans or ambitions. 

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Simply put, he's focused his attention on something else. Since then, he has turned his focus from toppers to other product categories within the bedding, culinary, pet, and home fitness industries.

In addition, if you check the company's website, you'll see that there is no listing for actual products anywhere. The only pages that are now accessible are "team" and "contact us."

In addition, it does not appear that Plate Toppers will be making a comeback any time in the near future.

Their Facebook page hasn't been updated since 2015, and the product in question has been unavailable on Amazon for several years. In addition, both QVC and Walmart have removed them from their online and in-store inventory.

The takeaway: What happened to Plate Topper after Shark Tank

Plate Topper was featured on Shark Tank in 2012 and drew media attention, which resulted in hundreds of thousands of views. This popularity helped the company reach a large audience and impacted Plate Topper's sales.

The plate topper was well thought out and had potential as a product that could have been successful. Unfortunately, however, it never caught on and was discontinued shortly after the show.

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

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