Plated Meal Subscription Update | Shark Tank Season 5
Meal kit delivery services have become a staple in modern households, but back in 2014, the concept was still new.
That’s when Nick Taranto and Josh Hix, the founders of Plated, stepped onto Shark Tank Season 5, hoping to secure a deal for their innovative meal subscription service.
Did they succeed? And what happened to Plated after Shark Tank?
Here’s a detailed look at their pitch, the Sharks’ reactions, and how the company evolved post-show.
Plated’s Shark Tank Pitch: Ask, Product & Outcome
- Entrepreneurs: Nick Taranto, Josh Hix
- Business Model: Meal kit subscription service
- Shark Tank Ask: $500,000 for 4% equity
- Deal Secured: $500,000 for 5.5% equity (with Mark Cuban)
Plated offered a chef-designed meal kit subscription where customers could order pre-portioned ingredients and follow step-by-step recipes to cook meals in 30 minutes.
At the time of filming, Plated had been in business for six months, generating $350,000 in total sales—with $100,000 in the previous month alone.
They were scaling fast, growing 40% month over month.
The pitch was promising, but not all Sharks were convinced.
Sharks’ Reactions: Who Invested & Who Passed?
Each Shark had their reasons for either backing out or making an offer:
| Shark | Reaction | Reason |
| Robert Herjavec | ❌ Out | Liked healthy eating but didn’t want to cook himself. |
| Kevin O’Leary | ❌ Out | Believed he could create a similar company for just $3M. |
| Lori Greiner | ❌ Out | Thought Plated’s target audience was too busy to cook. |
| Barbara Corcoran | ❌ Out | Felt people would prefer takeout over meal kits. |
| Mark Cuban | ✅ Offered $500K for 5.5% + advisory shares | Saw the potential for growth and innovation. |
In the end, Nick and Josh accepted Mark Cuban’s offer. However, the deal never actually closed.
Instead, Kevin O’Leary later invested in the company after the episode aired.
Plated’s Growth After Shark Tank
Despite not finalizing the deal with Mark Cuban, Plated saw massive growth post-Shark Tank, thanks to the “Shark Tank effect.”
Sales & Revenue Growth
| Year | Revenue |
| 2014 | $2.5 million (projected) |
| 2015 | $10 million (projected) |
| 2017 | $100 million+ |
| 2017 | Acquired for $300 million by Albertsons |
Plated quickly became one of the leading meal kit subscription services in the U.S.
Retail Expansion & Distribution Deals
| Year | Expansion Highlights |
| 2015-2016 | Expanded nationwide, increasing meal options. |
| 2017 | Acquired by Albertsons Companies for $300M. |
| 2018 | Plated meal kits were introduced at Albertsons grocery stores. |
| 2019 | Plated’s subscription service was discontinued, focusing on retail instead. |
Strategic Partnerships & Product Expansion
- Improved meal variety: Expanded menu options, including vegetarian and gluten-free meals.
- Retail partnerships: Sold in Albertsons, Safeway, and other grocery chains post-acquisition.
Why Was Plated So Successful?
Several key factors contributed to Plated’s rapid growth and acquisition:
- First-Mover Advantage – Plated was among the earliest meal kit services, giving it an edge in market positioning.
- Strong Online Sales Model – Their digital-first approach made it easy for customers to subscribe and customize meals.
- Shark Tank Exposure – The TV appearance helped them gain thousands of new customers overnight.
- Strategic Acquisition – Being bought by Albertsons allowed them to scale further and enter retail stores.
Final Thoughts: Plated’s Legacy & Lessons Learned
While Plated no longer operates as a subscription service, its impact on the meal kit industry is undeniable.
It proved that consumers were willing to pay for high-quality, pre-portioned meal kits delivered to their doors.
Key Takeaways from Plated’s Journey:
- Shark Tank exposure can be a game-changer, even if the deal doesn’t close.
- Scaling too quickly can be risky, as seen when Albertsons discontinued Plated’s subscription model.
- Market demand can shift, requiring businesses to adapt—meal kits remain popular, but competition has surged.
Ultimately, Plated paved the way for meal delivery giants like HelloFresh and Blue Apron.
While their journey ended differently than expected, their success story remains a valuable lesson in entrepreneurship, adaptability, and innovation.
Would Plated have thrived without Albertsons? That’s up for debate.
However, one thing is clear: Shark Tank helped launch a brand that changed the food industry.
What are your thoughts on Plated’s journey? Let us know in the comments!
