Plated

About Plated

Plated, established in 2012 by co-founders Josh Hix and Nick Taranto, with Elana Karp later joining as the culinary expert, emerged as an early entrant in the U.S. meal kit delivery market. The company's inception was reportedly inspired by Hix's personal experience with the inconvenience of grocery shopping after long workdays, leading to the concept of delivering pre-portioned ingredients for home-cooked meals. Taranto, a Harvard Business School classmate of Hix, brought a background from his time in the Marine Corps and finance at Goldman Sachs, while Hix had prior entrepreneurial experience in the tech sector. Elana Karp, a former teacher and graduate of the Le Cordon Bleu culinary school, developed the recipes, grounding the service in accessible yet interesting culinary experiences.

The business operated on a subscription model, where customers could choose from a weekly menu of chef-designed recipes online. Plated would then ship a box containing all the necessary, pre-measured raw ingredients along with step-by-step recipe cards directly to the consumer's door. This model targeted busy professionals and individuals passionate about food who sought the convenience of skipping meal planning and grocery shopping while still enjoying a high-quality, home-cooked meal. A key operational aspect was its direct-to-consumer delivery system, initially covering 95% of the United States.

A significant milestone in Plated's journey was its appearance on the television show Shark Tank in 2014, where the founders secured a deal with Mark Cuban, although the deal later fell through. The company achieved a pivotal moment in September 2017 when it was acquired by the major grocery chain Albertsons for a reported $300 million. This acquisition was aimed at integrating Plated's meal kits into Albertsons' physical stores, expanding beyond the online subscription service. Following the acquisition, Plated meal kits became available in hundreds of Safeway and Albertsons locations. However, in 2019, Albertsons discontinued the subscription-based service to focus exclusively on in-store sales and developing its own private-label culinary lines, effectively absorbing the Plated brand into its broader strategy.