Soon after, Zheng and his friend, Jon Balanevsky, co-founded Parker Square. And one of the company's first products, a flat ring box, offers an alternative to what the two describe as "bulky, ridiculous $5 boxes."
The founders told CNBC the box, which they call, "Secret", is about the size of a standard men's wallet. Inside the leather box, the ring sits on a rising platform that lifts the ring up into a standing position as the lid opens. Another more expensive version includes an LED light that shines on the diamond when the box is open.
The Parker Square boxes retail for $98 and $118 for the lighted versions. The company sells both boxes direct to consumers on its website.
New York Angels board member Alicia Syrett asked whether the team would be able to stop others from creating a similar product.
According to the founders, the box's design is patent pending, adding that they have also filed for a utility patent.
Still, "Secret," already faces competition from traditional boxes offered by high-end jewelry retailers like Bulgari and Tiffany & Co., famous for its "little blue box."
"I think the [ring] box has been really overlooked. Even at Tiffany's and Bulgari, they don't spend a lot on their boxes. We're finding that the consumers are voting with their wallet, and are spending $98 to $100 on these boxes," Zheng told CNBC.