Remember when kitchenware inventor Michael Tseng pitched the idea of the 'Plate Topper' on Shark Tank's Season 4? The pitch had ended up in a disagreement on-air between the Sharks, Michael and Lori. Here is an update on the deal for the Plate Topper.
On Shark Tank's Episode 8 from Season 4, kitchenware inventor Michael Tseng introduced the Plate Topper as a convenient replacement for saran wraps and plastic containers. Tseng explained that with plastic containers' lids getting easily misplaced and saran wraps being harmful to the environment, the plate topper would solve the problem of both those issues. The Plate Topper is also easy to store as it stacks up well.
In the episode, Michael demonstrated his invention's various positives. He told the Sharks that the Plate Topper works as a lid that can easily be attached to any type of dishware to make it air-tight. The product can also be used inside a microwave to have a mess-free and splatter-free experience. The Plate Topper comes in three different sizes: The Plate Topper Mini, The Plate Topper Tall and The Cake Topper.
During the episode, Michael Tseng asked the Sharks for an investment of $90,000 USD for 5% interest to sell the products to mega-retailers Walmart and QVC. While the discussion on-air ended with Michael and Lori's disagreement, Shark Lori ended up investing the asked amount, $90,000 USD for 8% interest. After the episode, Lori took to her Twitter account to announce that the deal was off, "Sorry to say I wound up not liking his tactics much either, that agony didn’t end in the Tank. I’m out!" Michael refused to sign a deal allowing Lori to make all the business decisions for a year.
After the episode went on-air, the Plate Topper received a boost in sales, as reported by the Gazette Review. The product's sales rose each time the episode was re-aired. The Plate Topper was not sold in Walmart, considering the minimum requirement was not delivered. The Plate Topper was available for purchase on Amazon in the US with a review of 3.5 stars out of 5.
As of 2021, the Plate Topper is no longer available for sale on Amazon. The invention's website isn't live anymore, and the social media pages have been abandoned for years. On October 22, 2020, Shark Tank Tales updated that Michael Tseng and his company Prestagon LLC filed for patents for the Bowl Topper and the Ice Topper in 2018.
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