The Table Mate has an original version and another version known as the Table Mate 2. What you see here is just one option available. See more options through the following link:
Browse all Table Mate and similar products here.

The Table Mate seen here is the Table Mate 2. This one includes a cup holder. Both versions fold up and fit neatly under the sofa or store away in a closet.
Read more about them, or buy them here.

Pros: 

Folds away neatly. The Table Mate 2 has a cup holder.

Cons: 

The reviews are mostly positive but they are generally mixed. Some love it, some not so much. You can read them all through the provided links on this page. Also you can browse through other similar products from other brands that perform the same task. Click any link on this page to get started.

This one is also the Table Mate 2, however, this one is the wood grain finish version. It can hold up to 50 pounds, and you can use it individually or with another person as demonstrated in the picture here. See more details about this one, or browse through many other living room tables of various brands by clicking the picture here.

Here is an example of a competing, but similar, type of table. This one is the Evelots all purpose folding table. You can adjust it both vertically as well as adjust the angle of the flat work station. Make it just right for sitting on the sofa, chair or anywhere else. Great for eating, using a laptop, writing, playing games, and much more. When you are done with it, you can simply fold it up and slide it under the couch or put it away in a closet without taking up too much space. Click the image of this folding table for more details about this one, or to browse through a whole bunch of other similar products.

This one is the bed mate. Similar in general design to the ones mentioned above, however it is much smaller and meant for use on your bed. Click the image of this one here for a lot more information on this and how to buy one.