Whatever Happened To The Pizza Cupcake After Shark Tank?
From Bantam Bagels to Wicked Good Cupcakes, the best food brands to appear on "Shark Tank" are those that offer a hip flip on what consumers expect out of their day-to-day products. In this regard, the Pizza Cupcake is something that is sure to pique the sharks' interest. Created by the New York-based entrepreneurs Andrea Meggiato and Michelle Jimenez-Meggiato, the Pizza Cupcake, as its name implies, fuses the rich taste of a pizza into a bite-sized cupcake. The Pizza Cupcake is made from a sourdough and pan brioche mix and olive oil instead of butter, offering a cleaner alternative to competitors while remaining fluffy.
The couple's journey began on their first date, where they made pizza together. Andrea worked in the food and restaurant industry as a chef since the age of 16. Michelle had a background in event producing and social media management. The duo launched the Pizza Cupcake in 2018 and it became a hit amongst their inner circle of family and friends. Michelle was able to help get the product out to some events, eventually landing at New York's Citi Field stadium as a concession offering during Mets games. They took off from there and were even able to successfully pivot their business model during the COVID-19 pandemic.
Overtime, increased nationwide demand came pouring in for the New York-based company. It was high time to get a bigger bite out of their brand and the couple knew a shark would be able to help.
What happened to Pizza Cupcake on Shark Tank?
The husband and wife team of Andrea Meggiato and Michelle Jimenez-Meggiato appeared on a Season 12 episode of "Shark Tank" that aired on February 12, 2021. The segment saw the couple ask for $125,000 for a 5% stake in Pizza Cupcake.
The sharks try out their margherita and pepperoni flavors, quickly falling in love with the mouth watering offerings. They're shocked to learn that the cupcakes were frozen and are only 160 calories each. Michella shares that they currently distribute direct-to-consumer through their website alongside catering and stadium events. They've been able to acquire a commercial kitchen and the same co-packer as Lori Grenier's Bantam Bagels business. Revenue from last year was $344,000 and the company expects to hit $800,000 by year's end. With demand pouring in, the team want to start selling Pizza Cupcakes as a frozen product in retailers as well as locating new fulfillment centers in various U.S. regions. Additionally, they hope that production with their co-packer helps bring the costs of making each cupcake.
While the sharks love the product, not all of them are on board with the business itself. Kevin O' Leary, having experienced difficulties in a similar situation with Wicked Good Cupcakes, thinks the team are underestimating the work involved. Daymond John, Mark Cuban, and Robert Herjavec don't believe they're the right sharks for the job. Lori Grenier offers $125,000 for 20% equity, believing she can get Bantam involved. Michelle and Grenier go back and forth on negotiations until they land on a final deal of $125,000 for 12.5% with 2.5% in advisory shares.
Pizza Cupcake after Shark Tank
The sharks were not the only ones to go gaga over Pizza Cupcake. The company experienced the "Shark Tank" effect in the aftermath of their episode, bringing in $1 million in sales. However, given that their episode aired in the midst of the pandemic, meeting demand was difficult. They addressed the issue on their site, with a statement that read, "Due to the overwhelming support from 'Shark Tank,' everyone wants a bite of The Pizza Cupcake. Which is great and overwhelming in a pandemic. Suppliers are behind, shipments are delayed, and so many materials are in high demand. This is happening with so many small businesses right now, not just us." The hurdle resulted in customers being kept on pre-order for up to three months.
Thankfully, the remainder of 2021 was a positive time for the company. The deal with Lori Grenier closed and in October, Pizza Cupcake made its retail debut at the Eastern U.S. grocery chain Wegmans, appearing at over 100 locations. The business appears on Grenier's website, where the investor shared that Pizza Cupcake had brought in $2.7 million in sales in less than a year. On a Season 13 update segment, the team reveals that they've made $3.1 million within 10 months of being on the show and have expanded to other retailers such as Whole Foods. Aiding in the nationwide rollout were their five new fulfillment centers. In 2022, they hit a new milestone by landing in over 16000 Walmart stores in 47 states.
Is Pizza Cupcake still in business?
Chances are you don't have to look too far if you want to take a bite of the Pizza Cupcake for yourself. The product is currently available in nationwide retailers such as Giant, Whole Foods, Safeway, and Walmart to name a few. The company recently announced that Pizza Cupcakes are now available at Northeast Costco locations. Overall, they are situated in over 2,400 U.S. locations.
On the off chance that you can't find a spot that sells Pizza Cupcakes near you, they offer online shipping options. You can either purchase two boxes containing 24 cupcakes for $49.99 or three boxes of 36 for $69.99. The business continues to serve at stadium events such as Mets games and have even partnered with charter and private schools to provide a whole grain option for students.
Over the years, Pizza Cupcakes has received widespread attention. Celebrities such as Drew Barrymore, Mariah Carey, Ellen DeGeneres, and Chrissy Teigen have promoted the brand. The company itself has been featured in such outlets as NBC, BuzzFeed, Elle, Thrillist, and Forbes amongst many others. The other sharks have even had fun supporting Pizza Cupcake, with Kevin' O Leary and Daymond John jumping on a 2021 Instagram Live with the team, where John shared that his daughter loved the product. Their annual revenue is currently estimated to be at $5 million, with a net worth of $2.5 million.
What's next for Pizza Cupcake?
Pizza Cupcake has come a long way since being a date night option for Andrea Meggiato and Michelle Jimenez-Meggiato. With the aid of Lori Grenier, the company has skyrocketed into becoming a brand worth millions. But ultimately, the team sees their product going from being a trendy snack to a mainstay in kitchens everywhere.
Michelle elaborated on this vision in an interview with Food Business News, where she said, "We would love for the next generation to grow up eating Pizza Cupcake and to create that household staple, where you have friends coming over after school, and what's mom or dad preparing? Pizza Cupcake. Birthday parties, holidays, Super Bowl parties... We want to become part of every occasion where you're creating memories and special moments. That's how it started for us. It was our first date. We had Pizza Cupcake at our wedding. It's been part of every special moment for us." They also believe that the Pizza Cupcake would perform well in hot spots such as Disney Parks, airports, and Starbucks restaurants. Additionally, after having served private and charter schools, they hope to move to public schools within the next year.
There are plenty of places for Pizza Cupcakes to go from here. According to their website, the margherita and pepperoni flavors remain the only options they have available. Experimenting with new creations could definitely help drum up new interest, along with potentially creating new merchandise with their adorable mascot. The sky is the limit for Pizza Cupcakes, and if their current track record is anything to go off of, it's only a matter of time before they hit their goals.