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.
[Pre-order Plated Founder Taranto’s book The Evolved Eater, out March 2018]
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]