Prepdeck Shark Tank Update – Prepdeck Net Worth 2024

Although it might be enjoyable, cooking at home can get very dirty. Upon observing this issue, Alexander Eburne felt compelled to assist cooks in maintaining order in the kitchen. Prepdeck was made by him. All of your ingredients and cooking tools are kept together in one convenient location with Prepdeck.

 To make cooking easier, it contains places for various supplies and a chopping board. In Season 13, Alexander appeared on Shark Tank and requested funding from the members to expand his company. In exchange for 7.5% equity, he requested $75,000.Will the entrepreneur get a deal on Shark Tank? Check out our Prepdeck update to find out!

Prepdeck Net Worth 2024

Alexander Eburne asked for a $750k Investment in exchange for 7.5% equity in his company. This meant he valued his company at $10 million. Unfortunately, he did not make a deal with any of the sharks. After the show aired, Prepdeck saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Prepdeck in 2024 is about $13.31 million.

Prepdeck Shark Tank Update

In terms of a Prepdeck update, despite not landing the deal on Shark Tank, Alexander Prepdeck is thriving and is still in operation. The business expanded significantly after the show. Prepdeck has sold more than $18.5 million in its history. They expanded their product lineup as well. 

Prepdeck Gen 2 is a new version of the program. To make cooking less messy, it offers even more functions. To make kitchen labor easier, the company also manufactures culinary gadgets and utensils. Prepdeck keeps expanding and improving people’s lives in the kitchen.

On Shark Tank, Prepdeck did not receive a deal. Alexander requested $750,000 in exchange for a 7.5% stake in his business. Kevin O’Leary was the only shark to make an offer. Kevin proposed to Alexander a $75,000 loan with 5% equity and 9.5% interest spread over 36 months. 

Alexander attempted to negotiate because he did not like the agreement. Kevin was requested by him to accept only 3% equity and to reduce the interest rate. They were unable to reach an agreement because Kevin disagreed. Alexander ultimately departed without a contract.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Daniel Lubetzky	out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	$750,000 as a loan with 9.5% interest over 36 months in exchange for 5% equity	$750,000 at 9% interest, with interest-only payments for a period and equity 3%.	N/A
Barbara Corcoran	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Prepdeck Shark Tank pitch

In our Prepdeck update research, Prepdeck was developed by Alexander Eburne as a solution to his frustration with messy cooking. In order to cook without being overwhelmed he wanted something that would assist put all of his supplies and materials in one location. It was then that he had the Prepdeck idea. However, launching a business is not simple. 

Alexander had a difficult time at the beginning. Finding the ideal Prepdeck design that would be simple to use and maintain was one of the challenges. In a crowded market, getting people to notice his merchandise was another challenge. However, Alexander persisted in developing his idea and did not give up.

Alexander demonstrated Prepdeck’s operation to the sharks when he appeared on Shark Tank. He clarified that Prepdeck is a solution that centralizes all of your cooking needs. It includes snap-on equipment to assist with food prep as well as areas designated for chopping boards for various ingredients. 

Alexander informed the sharks that his company had already generated millions of dollars in revenue and that by year’s end, he anticipated making $10 million. He requested $750,000 from the sharks in exchange for a 7.5 percent stake in his business. However, not all of the sharks were interested in Prepdeck. They were all amazed by how well the company was performing.

The workings of Prepdeck posed several questions to the sharks. They were interested in learning Alexander’s intended use of the requested funds. Alexander clarified that he intended to use the funds to expand the company and increase sales. The sharks were pleased with his well-defined business concept.

 However, some sharks remained skeptical of the product in general. For instance, Barbara Corcoran objected to Prepdeck’s plastic construction. She stated that for cooking surfaces she liked other materials better. Other sharks claimed to have a poor understanding of the kitchen tool market.

Certain sharks declined to make an offer after listening to the pitch. Due to her disapproval of the plastic substance, Barbara Corcoran left first. Due to their claims that they had sufficient knowledge of the kitchen tool business, Mark Cuban and Daniel Lubetzky also left. Additionally, Lori Greiner opted not to invest due to her belief that the deal gave little equity and excessive money demands. The only shark who remained interested was Kevin O’Leary. 

Though it differed from what Alexander was requesting, Kevin made an offer. Kevin proposed to give 5% equity in return for a $75,000 loan with 9.5% interest over 36 months. Because Alexander disagreed with the loan’s terms. He attempted to negotiate with Kevin. Kevin was requested by him to accept only 3% equity and to reduce the interest rate. Kevin however objected to the changes. Alexander left without a deal since they were unable to reach an understanding in the end.

What Went Wrong With Prepdeck On Shark Tank?

The fact that the sharks on Shark Tank weren’t all that thrilled about Alexander’s goods was one of the reasons he didn’t receive a deal. For instance, Barbara Corcoran objected to Prepdeck’s plastic construction. Some of the other sharks including Daniel Lubetzky and Mark Cuban claimed they didn’t know enough about kitchen gear to make an investment in the business. 

Lori Greiner also thought that the quantity of stock being offered was insufficient in comparison to the amount of money being sought. Alexander was not happy with the terms of the loan. Despite Kevin O’Leary’s offer therefore they were unable to come to an agreement.

Product Availability

A device called Prepdeck assists users in maintaining organization while cooking. It features snap-on equipment for food prep, a chopping board, and a spot for ingredients. Even more features have been added to the Prepdeck Gen 2 product. which is the more recent creation. Prepdeck is available for purchase on Amazon and the company’s website.

In addition, Prepdeck offers cutlery and kitchen supplies for sale. The version of Prepdeck that you purchase will determine its cost. Prices for the original Prepdeck and the Prepdeck Gen 2 vary. However, they are both accessible online. Prepdeck is evolving into a full-fledged brand that assists consumers in improving their cooking.

Conclusion 

Despite not landing the deal on Shark Tank, Prepdeck is still a very successful business. With almost $18.5 million in lifetime sales, they have greatly expanded since the show. Along with releasing Prepdeck Gen 2 which offers even more capabilities to help in the kitchen. They have also introduced additional products to their lineup. 

Alexander’s company is still expanding even though he did not receive the transaction he was hoping for on Shark Tank. Prepdeck is now a household name for products that keep cooks organized. We’re excited to see what Prepdeck and all of their next products are available in store.