What Happened To GATSBY Chocolate After The Shark Tank?
GATSBY After Shark Tank Update: GATSBY Chocolate is a low-calorie, vegan chocolate bar business founded in June 2021 by brothers Ryan Bouton and Doug Bouton. Co-Founder Doug is the Founder and CEO of Chicago-based Halo Top International Ice Cream Company.
Justin Woolverton and Doug Bouton founded the Halo Top brand. This brand is known in the United States for its Pints ice creams. GATSBY Brand’s first product milk chocolate style and almond dark chocolate style bars was launched and the co-founder of the brand Doug was already running an ice cream business.
By 2022, Gatsby chocolate bars will be available at famous retail stores Kroger, Ralphs, Fred Meyer, and More.
What Is GATSBY Chocolate?
Gatsby Chocolate is a chocolate bar brand. this product is made from PREMIUM, ALL-NATURAL INGREDIENTS like figs and keto-friendly MCT oil. Their chocolate bars contain up to 75% less sugar and 50% less calories than a normal chocolate.
Apart from all this, this product is completely vegan and gluten-free. The normal chocolate GATSBY bar contains 65 calories whereas the other chocolate contains up to 152 calories.
Chocolate bar is available in different flavors Fudge Brownie, Sea Salt Extra Dark, Almond Dark, Cookies & Cream, and more.
Who Is The Founder Of GATSBY Chocolate?
The co-founders of Gatsby Chocolate Company are brothers Ryan Bouton and Doug Bouton. These two brothers started this chocolate bar business in June 2021.
Doug Bouton is the co-founder of the popular ice cream company Halo Top and is also the co-founder & CEO of Gatsby Chocolate. After completing his law degree from the University of Virginia School of Law, Doug worked at Proskauer Rose LLP for a few years.
Ryan is the Chief Marketing Officer of both the companies Gatsby Chocolate and Halo Top International.
GATSBY Shark Tank Update
| Company Name | GATSBY Chocolate | |
| Founder | Ryan Bouton and Doug Bouton | |
| Founded | 2021 | |
| Product | Low calories chocolate bar | |
| Asked For | $500k for 5% equity | |
| Final Deal | $250k + a $250k loan for a 20% stake, which increased to 30% at $10M in sales & 40% at $50M in Sales | |
| Shark | Lori Greiner Mark Cuban | |
| Episode (Shark Tank USA) | S15 E1 | |
| Air Date | Sep 29, 2023 | |
| Business Status | In Business | |
| GATSBY Net Worth | $3.5M *estimated | |
| Headquarters | Chicago, Illinois, US | |
| GATSBY Instagram | View Profile | |
| GO TO AMAZON | Buy Now | |
Also Read This: What Happened To Krapp Strapp After Shark Tank?
GATSBY on Shark tank Pitch
After entering the Shark Tank, both Ryan Bouton and Doug Bouton explained their business to the sharks and asked for $500k for 5% equity. This company’s valuation is $10 million, which guest shark Candace Nelson did not expect. Daymond immediately said, “I am out.”, after some time he said I am joking.
Sales for the last 12 months were $2.5 million. The retail price of a single bar is $3.99, wholesale is $2.70, and the making cost is $1.90. The margin in this is about 40%.
Lori Greiner offers $250k cash & $250k loan at 6% interest rate for 20% stakes. Kevin O’Leary offered $500k for all venture debt for a 12% stake. Doug said if they get the right deal, they can lose 20% stake like celebrity brand ambassadors. Lori changed her offer and said she wanted a 25% stake.
Lori Greiner and Mark Cuban teamed up and offered $250k + a $250k loan for a 20% stake, which increased to 30% at $10M in sales & 40% at $20M in Sales. Doug countered 30% at $10M in sales & 40% at $50M Sales.
GATSBY Net Worth
Gatsby’s net worth is estimated at $3.5 million. According to the Shark Tank show, this company had burned approximately $3.5 million in cash by 2022. After finalizing the deal with Mark and Lori, they will focus on making this business profitable and will select a face for this chocolate brand.
Is GATSBY Still In Business?
Yes, GATSBY is still in business as of November 2023.
Gatsby’s business was started in June 2021 by brothers Ryan Bouton and Doug Bouton. The business started with a loss. By October 2023, they had lost more revenue than they had made.
The current headquarters of this business is in Chicago, Illinois, United States and it has 11-50 employees as per its LinkedIn profile.
FAQs
GATSBY was founded in June 2021 by Ryan Bouton and Doug Bouton.
Gatsby’s net worth is estimated at $3.5 million.
Yes, GATSBY is still in business as of November 2023.
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