Ryan and Doug Bouton Present Gatsby Chocolates On Shark Tank
Highlights
- Gatsby Cholocate was presented in the fifteenth Shark Tank season.
- Entrepreneurs Ryan and Doug Bouton bagged a deal from Mark Cuban and Lori Greiner.
- The entrepreneur duo partnered with the Cavender twins after the show.
The amount of exposure products get on Shark Tank is second to none. This is what makes their journey after the show a hot topic of discussion, particularly the ones that appear in the new Shark Tank seasons. Focusing on one such product, this article discusses the Shark Tank Gatsby Chocolate Bars journey.
Gatsby Chocolate made its way to the Shark investors in the fifteenth season. It was brought to them by the entrepreneur duo of Ryan and Doug Bouton. Both of them tried to convince the Shark panel members to make an investment in their line of chocolate bars and peanut butter cups that were plant-based.
Below is a detailed recap of whether Shark Tank Gatsby Chocolate Bars was a successful event for the Bouton brothers or not. Along with this, a section is focused on how sweet or bitter its journey has been after the fifteenth season.
Shark Tank Gatsby Chocolate Bars: Episode Flashback
Siblings and entrepreneurs Ryan and Doug Bouton approached the Shark Tank panelists with their variety of chocolate bars and peanut butter cups. Seeking $500K for 5% equity, the entrepreneur duo pitched Gatsby Chocolates’ offerings as plant-based and low-calorie items.
Going ahead in the Shark Tank Gatsby Chocolate Bars pitch, Doug revealed that he had also founded another low-calorie item called Halo Top. In 2019, Ryan and Doug’s venture was acquired by the parent company of Blue Bunny.
Describing their offering as the ‘Halo Top of Chocolate,’ the Bouton brothers offered samples to the Shark investors. Ryan and Doug added that their chocolates were found on both Amazon and Walmart outlets. Gatsby Chocolates were also present in Safeway and Albertson’s.
While answering about their business figures, the Boutons claimed that they had made $2.5 million in sales in 2022. Plus, Gatsby Chocolates were present in more than 6000 outlets at a $3.99 retail price. Ryan and Doug wanted a Shark’s help in getting national awareness about their national distribution.
What Was The Final Shark Tank Deal For Gatsby Chocolates?
After facing skepticim regarding their name and valuation, the Bouton brothers finalized their deal with Mark Cuban and Lori Greiner. The Shark Tank deal was made for $500K. $250K was a loan, and the other half was for 20% equity. When Gatsby Chocolates would make $10 million in sales, the Sharks asked for an extra 10% equity.
Additionally, when the figure touched the whopping $50 million mark, Mark and Lori would be getting an additional 5% equity.
Shark Tank Gatsby Chocolate Bars: Journey After The Show
Ryan and Doug Bouton tried their luck on Shark Tank in September 2023. As their journey after the show has just completed a year, it is too soon to talk about the success of Gatsby Chocolate bars. But it is important to note that the chocolate brand’s deal with Mark and Lori did not close by May this year.
Before this, Ryan and Doug joined hands with the famous Cavinder twins to enhance Gatsby Chocolate’s social media reach. The series of developments seems to have continued for the entrepreneur duo without the Sharks’ help as well.
This is because, by June 2024, Yahoo listed Gatsby Chocolates as the most searched product from the fifteenth Shark Tank season. The demand for the product can further be ascertained by the fact that Gatsby is present in nationwide stores, including Sprouts Markets and Walmart.
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Conclusion
The Shark Tank Gatsby Chocolate Bars journey has been a rollercoaster. Although Ryan and Doug Bouton’s deal with Mark Cuban and Lori Greiner did not close, the entrepreneurs managed to hold their ground. They have targeted on social media with their partnerships with famous names like the Cavinder twins.
Furthermore, Gatsby Chocolates’ mention as one of the most sought-after businesses from the fifteenth season speaks about its impressive market presence. While it is too early to talk about its long-term impact, the Bouton brothers’ business has been indicating a positive trajectory toward success.
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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