Shark Tank Gatsby Chocolate, a healthy chocolate brand founded by Ryan Bouton and Doug Bouton, entered Shark Tank USA on September 29, 2023 on Season 15. The founders were seeking $500,000 for 5% equity for their business. However, they secured a deal with Mark Cuban and Lori Greiner, $250,000 for 20% equity and a $250,000 loan for 6% interest. In this article, we will explore Gatsby Chocolate Net Worth in 2024, its Shark Tank pitch summary and more.
Gatsby Chocolate Net Worth
As of March 2024, Gatsby Chocolate’s estimated net worth is $3 million, and its annual revenue was $2.5 million in 2022, and the company projected $2 million in revenue as of the current year.
| Net worth | $3 million *estimated |
| Annual Sales Revenue | $2.5 million (In 2022) |
| Profits | Not Available |
| Lifetime sales | $4.5 million *estimated |
| Employees | 11-50 employees |
Gatsby Chocolate Net Worth Timeline
| Net Worth 2024 | $3 million |
| Net Worth 2023 | $2.5 million |
Shark Tank Gatsby Chocolate Update from Season 15
In the Shark Tank episode, brothers Ryan and Doug present their healthier chocolate brand, Gatsby Chocolate. Doug, a co-founder of Halo Top, compares it to the “Halo Top” of chocolate. With less sugar and calories, Gatsby Chocolate aims to follow Halo Top’s success.
Currently available nationally in Walmart, Albertsons, Safeway, and Sprouts, Gatsby Chocolate has over 6,000 distribution points. Sales in the previous year exceeded $2.5 million, mainly in the fourth quarter. Retailing at $3.99 and wholesaling at $2.70, each bar costs $1.90 to manufacture, providing 35%-40% margins, with plans to increase to 50%. Despite facing a $3.5 million loss in the previous year, the brothers had a positive view.
Two brothers, Ryan and Doug, are seeking $500,000 for 5% equity, valuing the company at $10 million. Sharks Daymond John, Lori, and Kevin O’Leary make offers. Daymond opts out, feeling he can’t add value. Lori proposes $250,000 for 20% equity and a $250,000 loan at 6% interest.
Kevin offers $500,000 as venture debt for 12% equity. Guest shark Candace Nelson doesn’t like the branding and exits, suggesting Lori as a partner.
Mark Cuban and Lori join forces, offering $500,000, split between a loan and equity for 20%. Equity increases to 30% at $10 million in sales and 40% at $20 million. Doug counters, delaying the 40% equity until $50 million in sales. Mark and Lori agree to secure a deal for Gatsby Chocolate.
| Company Name | Gatsby Chocolate |
| Founders | Ryan Bouton and Doug Bouton |
| Business | Low-calorie chocolate brand with less sugar |
| Episode | Season 15, Episode 01 |
| Asked Deal | $500,000 for 5% equity |
| Final Deal | $250,000 for 20% equity, plus $250,000 as a loan for 6% interest. Stake increases to 30% at $10 million in sales, and again to 40% at $50 million in sales |
| Sharks | Mark Cuban and Lori Greiner |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Greater Chicago Area, Great Lakes, Midwestern US |
What Happened to Gatsby Chocolate after Shark Tank?
As of March 2024, Gatsby Chocolate is still in business. After the Shark Tank episode aired, Gatsby Chocolate gained increased attention. After tasting the chocolate bars, viewers shared positive feedback on taste and low-calorie content. You can purchase your own Gatsby Chocolate and more through their website.
Gatsby Chocolate Founder
Ryan Bouton and Doug Bouton are the founders of Gatsby Chocolate. Doug Bouton and his two brothers, Matt and Ryan, began their journey in the food and beverage sector with the successful venture, Halo Top Ice Cream, co-founded in 2013. The sale of Halo Top and Doug’s established relationships with retailers paved the way for their entry into a new culinary venture: chocolate.
The Bouton brothers created Gatsby Chocolate to address the market’s need for tasty and healthier options in an industry filled with traditional and unhealthy choices. Doug recognized a market niche: consumers wanting low-calorie options without sacrificing flavor, inspiring the idea.
Using their experience from the Halo Top venture, the brothers dedicated a year to ethically developing Gatsby Chocolate. As a result, the company was started in 2022, providing a unique, health-conscious chocolate option.
Currently, Doug Bouton is the co-founder of Halo Top and serves as the co-founder and CEO at Gatsby Chocolate. Meanwhile, Ryan is the Chief Marketing Officer for both Gatsby Chocolate and Halo Top International. As of March 2024, Ryan Bouton and Doug Bouton’s net worth is unknown.
Gatsby Chocolate Achievements and Awards
| Year | Achievements and Awards |
| 2023 | Gatsby Chocolate was featured on Shark Tank, sealing a successful deal |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Gatsby Chocolate was one of the ventures featured on the show. They made a deal with Mark Cuban and Lori Greiner, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 01.
