Plated is the gourmet food delivery service that pitched its business on Shark Tank in May 2014. On the show, they made a deal with Mark Cuban — $500,000 for 5.6% equity and advisory share — but the deal fell through after the episode aired. In a Shark Tank update, it’s revealed that Kevin O’Leary met with the founders, Harvard Business School graduates Nick Taranto and Josh Hix, and O’Leary made an investment in Plated.
In September 2017, Plated sold to Albertsons Companies, a national grocery store chain based in Boise, Idaho with 2300 stores across the US — for $300 million. Hix remains CEO of Plated, and Taranto has stayed on as chief strategy officer. According to CNBC, with the sale of Plated to Albertsons, O’Leary made a 1,346 percent return on his investment. According to O’Leary, Plated is “the largest exit for a featured business in the history of Shark Tank.” New episodes of Shark Tank air Sundays at 9pm on ABC.
[Related: 27 All-Time Favorite ‘Shark Tank’ Products]
