Whatever Happened To Prepdeck After Shark Tank?
Over the years, "Shark Tank" has played host to all sorts of products intended to make the world of cooking easier and more approachable, whether it's through small gadgets, like the Anytongs, or more heavy-duty equipment, like the Frywall. However, there's one particular business from the show's history that dared to focus on streamlining the preparation work before the cooking even starts — that being a little company called Prepdeck.
Appearing on "Shark Tank" Season 13, Episode 16, Prepdeck is a specialized ingredient station that allows users to prepare and store everything they'll need to make a dish. Each unit includes a number of stackable containers, several food preparation tools, a small spice rack, and a detachable cutting board. Creator Alexander Eburne developed the product with the culinary philosophy of organization or "mis en place" in mind, hoping to provide a solution for maximizing efficiency in the kitchen.
While Prepdeck may sound like quite the novel premise, the business ultimately didn't fare too well during its time on "Shark Tank." Of course, its life beyond its appearance on the hit ABC show is another matter entirely. That said, here's an overview of what happened to Prepdeck during and after "Shark Tank," and whether the nifty piece of cooking hardware is still around today.
What happened to Prepdeck on Shark Tank?
When Alexander Eburne jumped into "Shark Tank" with his Prepdeck invention, he had quite lofty ambitions. Per the entrepreneur's explanation, the early years of Prepdeck had seen substantial growth, with a successful Indiegogo campaign helping to kickstart the business' development. According to Eburne, annual revenue for Prepdeck was ballooning year over year, jumping from roughly $1 million to around $6 million between 2019 and 2020. With these metrics in mind, he made a sizable proposition to the Sharks: an investment of $750,000 in exchange for 7.5% ownership of the company.
Unfortunately, Prepdeck as a venture didn't quite resonate with the majority of the Sharks. Hosts Barbara Corcoran, Daniel Lubetzky, Mark Cuban, and Lori Greiner all elected to exit negotiations quite quickly, leaving Kevin O'Leary alone to make a counteroffer. The investor responded by proposing that the payment of $750,000 be made as a loan at a 9.5% interest rate over the course of three years, in exchange for a smaller ownership stake of 5%. Eburne countered by suggesting a lower interest rate of 9% and just 3% equity, but O'Leary ultimately didn't take the deal. As such, Prepdeck left "Shark Tank" without securing an investment from any of the Sharks.
Prepdeck After Shark Tank
Unfortunately, while Prepdeck was initially projected to amass over $10 million in revenue in 2021, it ultimately ended up backsliding down to around $5.3 million from its figure of roughly $6 million in 2020 — around a 10% loss. Some financial hardships ensued, with the company suffering a net loss in 2021 due to its lower earnings. However, additional funding did eventually come. A crowdfunding campaign through Wefunder in 2022 and 2023 allowed the business to garner more than $87,000 in investments.
Though Prepdeck's financial woes might have been soothed by a more successful outing on "Shark Tank," Alexander Eburne had nothing but good things to say about his experience on the show. In a TikTok video on the official Prepdeck account, the founder talked about what it was like to pitch his product on the popular series. "It was a lot of work and preparation going into it, a lot of nerves even, building up to the actual day," Eburne said. "The experience itself was phenomenal. Getting to talk about something that I'm passionate about, that I've invested so much of my life into with these amazing business people and investors, was really incredible."
All that said, Prepdeck as an entity did reap at least one substantial benefit from its appearance on the show. Per Eburne's account, it seems that the company saw increased interest and popularity among consumers after the episode aired in 2022, thanks to the "Shark Tank" effect. "We got to put our product in front of a much wider audience, which was just really incredible," the inventor said.
Is Prepdeck still in business?
2023 proved to be a major turning point for the future of Prepdeck. While the early months of the year saw the company receiving investments through its Wefunder campaign, issues with delayed order fulfillment and product availability caused some users to speculate that the business might be shutting down. That ultimately wasn't the case, though the year would mark a rather major sea change in the company's operations.
In December 2023, Prepdeck announced that it had entered a licensing deal with Dash, a large manufacturer and distributor that primarily vends kitchen appliances like waffle irons. The company's official support page notes that Dash does not have any level of ownership over Prepdeck, but the partnership is still quite a significant development for the company and the brand.
Suffice to say, Prepdeck is still in business as of 2024, and the business' selection of offerings has expanded far beyond its namesake product. The official store currently sells the Prepdeck Gen 2 model, compact versions called the Prepdeck Lite and the Prepdeck Lite MAX, spice caddies, knife blocks, cooking utensils, freezer trays, and even a "mystery box" containing a randomized assortment of branded items and accessories.
What's next for Prepdeck?
With Prepdeck entering its licensing agreement as a Dash product, it seems like the future is bright for the "Shark Tank" product — at least, for the time being. As for what the company's business strategy looks like going forward, it's clear that expanding and developing its range of products is a priority. With the Prepdeck Gen 2 supplanting the original Prepdeck and boasting a refined design and suite of additional features, it seems logical that further enhancements might be in the pipeline. New releases like the Prepdeck Lite also show that the team is considering how the culinary preparation set might cater to a wider range of use cases.
As for Alexander Eburne, he's still at the helm of Prepdeck for the time being. However, the entrepreneur is also splitting his time with yet another venture. Since 2022, he has served as the founder and CEO of TLNT, a recruiting company that seeks out remote talent from Latin American countries for burgeoning America-based businesses.