Shark Tank is back for Season 15, and the Season 15 opener includes businesses like GATSBY Chocolate. The company, founded by Doug and Ryan Bouton, sells a line of low-calorie chocolate bars that include dairy-free and gluten-free flavors. They reached agreements with Mark Cuban and Lori Greiner. After the show, Gatsby chocolate was estimated to be worth $3 million.
Doug and Ryan Bouton
On the show, Doug and Ryan offer an interesting take on a beloved snack. Even though their chocolates contain less sugar, they don't sacrifice taste for nutritional value. This resonated with viewers who have a sweet tooth but want to maintain a healthy diet.
As co-founder of Halo Top, Doug Bouton is no stranger to dough-making in the food industry. Halo Top is a low-calorie ice cream brand with annual revenue of $250 million and an undisclosed price.
Previously, Doug was a lawyer and leaving the legal field was a smart career move. After selling Halo Top, he was flush with cash, so he spent time exploring the chocolate business.
This time, he traveled with his family. One of his most trusted colleagues is his brother Ryan, who also helped Doug a lot when he ran Halo Top. During that time, the connections they made helped them launch a second business.
Founding of Gatsby Chocolate
GATSBY chocolate was launched in 2022 with 10 chocolate products that taste similar to regular chocolate but contain 75% less sugar. Since the founders wanted to reduce fat, the ingredients are all plant-based and contain almost no cocoa butter.
The bars contain only 180 to 210 calories, and the startup has been recognized by the likes of Forbes as the “lowest calorie chocolate on the market.”
The brothers have a solid pitch, but the Sharks don't like the fact they're down $3.5 million in 2022. They reached a deal with Mark and Lori to buy 20% of the brand for $250,000 in cash and a $250,000 loan.
After Shark Tank
When the episode aired in September 2023, the founders noticed a significant increase in website traffic and emails from interested customers. The first 48 hours after a show is often the toughest, as Doug and Ryan find out very late that their episode is going to air.
The deal with Mark and Lori doesn't appear to be complete yet, as neither Shark Tank lists the business on their website. Maybe the deal is still in the due diligence stage. The founders may back out of the deal because once sales hit $50 million, Mark and Lori's stake increases to 40%. Additionally, there has been no rebranding.
You can't buy directly from their website because the shipping costs for the chocolate are too high. If you visit GatsbyChocolate.com you can see their store locations. GATSBY is now available at Walmart, Sprouts, Pavilions, Safeway, Albertsons and Vons. Alternatively, you can check out their Amazon store .
GATSBY Chocolate is the #1 chocolate on Walmart.com, with thousands of five-star reviews. Currently, the business is in a strong position despite the challenging economy. I wouldn't be surprised if Gatsby Chocolate is acquired by a large competitor within the next two years.
Categories: Shark Tank
Source: svlsf.edu.vn