Gatsby Chocolate Shark Tank Net Worth

Gatsby Chocolate is a low-calorie chocolate brand that appeared in Episode 01, Season 15 of Shark Tank. It was founded by Doug Bouton, who co-founded the popular low-calorie ice cream brand Halo Top. 

With Gatsby Chocolate, Doug aims to revolutionize the chocolate industry just as he did with ice cream. The brand offers a lineup of chocolate bars in four flavors: Almond Dark, Cookies and Cream, Fudge Brownie, and Sea Salt Extra Dark.

Gatsby Chocolate stands out for its low-calorie content. It claims to be the lowest-calorie chocolate available, with roughly half the calories of other major brands. 

The Fudge Brownie and Sea Salt Extra Dark varieties have 180 calories per bar, the Cookies and Cream bars have 200 calories, and the Almond Dark bars have 210 calories. This means consuming only 60 to 70 calories per 30 grams of chocolate.

In addition to being low in calories, Gatsby Chocolate also uses 75% less sugar than other brands. The Almond Dark, Fudge Brownie, and Sea Salt Dark Chocolate bars contain only 7 grams of sugar for the entire bar, while the Cookies and Cream bar, made from white chocolate, has 10 grams of sugar. 

To achieve this, Gatsby Chocolate includes ingredients like allulose, a naturally occurring sugar alcohol found in foods like figs and raisins, as a substitute for refined sugar.

Gatsby Chocolate bars have additional features that make them an attractive choice. They are dairy-free, gluten-free, and vegan (except for the Cookies and Cream bar, which contains whole milk powder and wheat). 

The bars also contain high-quality ingredients such as EPG (a modified plant-based oil), palm kernel oil, sunflower lecithin, and soluble corn fiber. 

Despite these alternative ingredients, the chocolate has received positive ratings on Walmart.com, with most reviews being four or five stars.

Gatsby Chocolate offers a healthier alternative to traditional chocolate bars. Its low-calorie content, reduced sugar, and high-quality ingredients make it an appealing choice for individuals conscious of their calorie intake or dietary restrictions. 

Whether you’re looking for a guilt-free indulgence or want to explore a new chocolate brand, Gatsby Chocolate provides a delicious option that aims to satisfy both taste and health-conscious consumers.

Company NameGatsby Chocolate
EntrepreneurDoug Bouton and Ryan Bouton
ProductChocolate bar with fewer calories
Investment Asking For$500,000 in exchange for a 5% equity in Gatsby Chocolate
Final Deal$250,000 in exchange for a 20% equity in Gatsby Chocolate + $250,000 as a loan (Which Increases to 30% after sales reach $10 Million and 40% after sales reach $50 Million)
SharkLori Greiner and Mark Cuban
Gatsby Chocolate Episode Season 15, Episode 1
Gatsby Chocolate Business StatusIn Business
Gatsby Chocolate WebsiteVisit Website
Gatsby Chocolate Net Worth$3 Million

What Is Gatsby Chocolate?

Gatsby Chocolate is a brand of chocolate bars known for being the lowest-calorie chocolate available nationwide. They offer a range of gluten- and dairy-free flavors, including Fudge Brownie, Sea Salt Extra Dark, and Almond Dark.

Gatsby Chocolate has gained recognition and positive reviews, including being the number one reviewed chocolate on Walmart.com. The brand emphasizes that its chocolate bars have significantly fewer calories than other chocolate brands. 

On a per-gram basis, Gatsby Chocolate has half the calories and 75% less sugar than other chocolates. This makes it an appealing choice for individuals who want to indulge in chocolate while being mindful of their calorie and sugar intake.

Gatsby Chocolate Shark Tank Update | Gatsby Chocolate Net Worth

In addition to being gluten-free and dairy-free, Gatsby Chocolate prides itself on using clean and premium all-natural ingredients. 

The flavor experiences of their chocolate bars are described as incredible, with melt-in-your-mouth textures. The brand was created by the co-founder of Halo Top, a popular low-calorie ice cream brand.

Gatsby Chocolate has become popular among consumers, with over 1,000 five-star reviews for flavors such as Fudge Brownie and Sea Salt Extra Dark. 

Customers have expressed surprise at the quality and taste of Gatsby Chocolate, with some making it a regular purchase and even a nightly ritual. The brand is also known for its vegan options, which suit those following a vegan lifestyle.

To purchase Gatsby Chocolate, customers are encouraged to buy from their local retailers as online orders are unavailable due to the high cost of shipping chocolate. 

The brand provides a “Buy Nearby” option for customers to find the nearest store selling Gatsby Chocolate bars.

Who Is The Founder Of Gatsby Chocolate?

The founders of Gatsby Chocolate are Doug Bouton and Ryan Bouton. Doug Bouton began his journey in the food and beverage sector with Halo Top Ice Cream, a company he co-founded in 2013. 

With his passion for entrepreneurship and healthier food alternatives, he successfully transformed a modest investment into a juggernaut brand.

Halo Top Ice Cream gained recognition for its low-calorie, high-protein ice cream options that resonated with health-conscious consumers. 

The brand experienced remarkable growth, outpacing veteran brands like Ben & Jerry’s and receiving accolades as one of TIME Magazine’s top inventions of the year. 

Doug Bouton’s ability to steer Halo Top toward market dominance showcased his mettle in the consumer packaged goods (CPG) industry.

After selling the Halo Top business and leveraging existing relationships with retailers, Doug Bouton decided to venture into a new culinary frontier: chocolate. 

He joined forces with his brothers, Matt and Ryan, who had also been involved in Halo Top, to create Gatsby Chocolate. They aimed to innovate in the chocolate industry, which is saturated with traditional and often unhealthy options.

The idea for Gatsby Chocolate emerged from the desire to balance taste and nutritional value. 

Doug Bouton recognized a market opportunity to target consumers who were calorie-conscious yet unwilling to sacrifice flavor. 

With a year dedicated to ethical product development, Gatsby Chocolate was born and hit shelves in 2022.

Before appearing on Shark Tank, Gatsby Chocolate had already made significant strides in establishing itself as a force to be reckoned with in the confectionery world. 

Leveraging Doug Bouton’s experience and relationships from his previous venture, Gatsby Chocolate swiftly expanded into major retail chains within a year of its launch. 

The brand successfully challenged stalwarts like Hershey’s by offering an array of low-calorie, high-flavor chocolates that appealed to health-conscious consumers.

Gatsby Chocolate focused on sourcing natural ingredients and maintaining a low sugar content, setting itself apart from market competitors. 

The brand’s products contained 75% less sugar than most competitors and became a haven for those on keto diets. Gatsby Chocolate’s chocolates and peanut butter cups had 50% fewer calories, 80% less sugar and carbs, and 50% less fat than leading brands. 

These innovations in product formulation contributed to the brand’s significant retail success, with Gatsby Chocolate products becoming staples in major stores such as Walmart, Safeway, Albertsons, Vons, and Pavilions.

In summary, Doug Bouton, the founder of Gatsby Chocolate, conceived the idea of creating a healthier indulgence in low-calorie, high-flavor chocolates. 

Building on his successful experience with Halo Top Ice Cream, he ventured into the chocolate industry to strike a balance between taste and nutritional value. 

Gatsby Chocolate quickly gained traction by offering products that catered to calorie-conscious consumers while challenging traditional notions about what chocolate can or should be.

How Was The Shark Tank Pitch Of Gatsby Chocolate?

During the pitch on Shark Tank Season 15, brothers and co-founders Ryan Bouton and Doug Bouton presented their chocolate company, Gatsby Chocolate. 

They highlighted that their products contain half the calories of normal chocolate and up to 75% less sugar than most chocolate products on the market.

The brothers entered the Tank with a request for $500,000 in exchange for a 5% equity stake in their business, valuing Gatsby Chocolate at $10 million. 

They described Gatsby Chocolate as the “Halo Top” of chocolate, referring to the successful low-calorie ice cream brand co-founded by Doug. They aimed to make Gatsby Chocolate an industry leader in the same way.

The sharks were pleased to hear about the healthier aspects of Gatsby Chocolate but had different views on the investment opportunity. 

Daymond John loved the product but didn’t feel he could add value, so he opted out. 

Candace Nelson, founder of Sprinkles Cupcakes, loved the chocolate but was not a fan of the branding and declined to invest.

Lori Greiner showed interest in Gatsby Chocolate and offered $250,000 for a 20% equity stake. She also proposed an additional $250,000 loan at 6% interest. 

Lori emphasized that she would help redesign the packaging and was committed to making the business successful.

Kevin O’Leary offered $500,000 as venture debt in exchange for a 12% equity stake in Gatsby Chocolate. However, Mark Cuban and Lori Greiner eventually made a joint offer. 

They proposed investing $500,000, with half as a loan and half as equity for a 20% stake. Additionally, when Gatsby Chocolate reached $10 million in sales, the equity would increase to 30%, and at $20 million in sales, it would increase further to 40%.

Doug expressed concern about selling the company under those terms and countered with a deal that mirrored Mark and Lori’s offer, but with the 40% equity stake kicking in only when sales reached $50 million. Mark and Lori agreed to this counteroffer, and a deal was struck.

Here are the Shark’s views on points about the product:

  1. Mark Cuban and Lori Greiner: Accepted deal of $250,000 for 20% stake, plus $250,000 loan for 6% interest. The stake will increase to 30% when sales hit $10 million and will increase again to 40% when sales hit $50 million.
  2. Kevin O’Leary: Offered $500,000 as venture debt for 12% equity.
  3. Candace Nelson: Did not make an offer.
  4. Daymond John: Did not make an offer.

Below is table below for a summary of the investments and final deal accepted by the founders:

SharkInvestment OfferedCounteroffer by FoundersFinal Deal Accepted
Mark Cuban$250,000 for 20%$250,000 for 20%Yes
Lori Greiner$250,000 for 20%$250,000 for 20%Yes
Kevin O’Leary$500,000 for 12%No
Candace NelsonNo
Daymond JohnNo

The final deal accepted by the founders is a combination of Mark Cuban and Lori Greiner’s offer.

Gatsby Chocolate secured a deal with Mark Cuban and Lori Greiner on Shark Tank. They received an investment of $250,000 for a 20% equity stake and a $250,000 loan at 6% interest. The equity would increase to 30% when sales hit $10 million and 40% when sales reached $50 million.

Did Gatsby Chocolate Get a Deal on Shark Tank?

Yes, Gatsby Chocolate did strike a deal on Shark Tank. The founders, Doug and Ryan Bouton, initially asked for $500,000 in exchange for a 5% stake in the company. 

Despite the company’s lack of profits and some confusion surrounding its branding, Lori Greiner and Mark Cuban offered $250,000 in loans and $250,000 in investments for a 20% stake in the company. 

However, their stake would increase to 30% once Gatsby Chocolates hit $10 million in sales and then 40% when they hit $20 million. 

The Bouton brothers negotiated the $20 million threshold to $50 million and ultimately secured $500,000 in loans and investments.

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What Happened To Gatsby Chocolate After Shark Tank?

After appearing on Shark Tank, Gatsby Chocolate secured a deal with investors Lori Greiner and Mark Cuban. The deal involved an investment of $250,000 in cash and an additional $250,000 loan for a 20% stake in the company. 

However, the terms of the deal included an increase in stake to 30% when Gatsby Chocolate reaches $10 million in sales and a further increase to 40% when sales reach $50 million.

Following the episode’s airing, the exposure on Shark Tank increased interest in Gatsby Chocolate. After watching the episode, many viewers who tasted the chocolate bars expressed their positive feedback on the taste and the fact that it is low in calories. 

Lori Greiner even launched a voting poll on Twitter asking if people would buy Gatsby Chocolate, and 59% of the respondents indicated their interest in purchasing it.

As a result of the successful appearance on Shark Tank and the positive response from viewers, Gatsby Chocolate experienced a boost in sales. There is expected to be a significant increase in one-day sales for the company. 

Additionally, Gatsby Chocolate expanded its retail presence, and its products are now available in several Sprouts retail stores in California.

Despite experiencing initial losses, Gatsby Chocolate has continued its operations and is still in business as of November 2023. 

According to its LinkedIn profile, the company is headquartered in Chicago, Illinois, and it currently has between 11 and 50 employees.

Gatsby Chocolate’s appearance on Shark Tank proved to be a turning point for the business, securing funding and generating increased interest in its products. The company aims to focus on profitability and may consider selecting a brand ambassador to represent the chocolate brand.

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Gatsby Chocolate Shark Tank Update

After appearing on Shark Tank, Gatsby Chocolate experienced significant growth and success in its business. The exposure on the popular reality TV show allowed the company to showcase its innovative product and attract a larger customer base.

Following their appearance on Shark Tank, Gatsby Chocolate gained wide recognition and appeal in the market. 

Their unique selling point of offering low-calorie and healthier chocolate options resonated with consumers, particularly younger mothers looking for guilt-free indulgence for themselves and their children. 

The company’s strategic marketing approach and robust business strategy helped it establish itself as a leading brand in the chocolate industry.

As a result of their success, Gatsby Chocolate expanded its distribution channels and secured partnerships with major retail chains. 

Their products can now be found in popular stores such as Kroger, Hy-Vee, Ralphs, Fry’s, Mariano’s, Fred Meyer, Lowers, Stop & Shop, and Walmart stores nationwide. This widespread availability further contributed to their growth and increased consumer trust.

In addition to their retail presence, Gatsby Chocolate offers online purchasing options. However, they face challenges in shipping their products during summer due to the risk of melting. 

The company has restricted online shipping to limited time frames to address this issue. Despite this limitation, fans of Gatsby Chocolate can still find their favorite delicacies online.

Gatsby Chocolate Shark Tank Update | Gatsby Chocolate Net Worth

Gatsby Chocolate’s commitment to sustainability and catering to various dietary preferences has strengthened its brand image. 

They offer gluten-free, dairy-free, and vegan options for consumers who follow specific diets or have dietary restrictions. This inclusivity has helped them gain a loyal customer base and establish themselves as a trusted and reputable chocolate brand.

To engage with their customers and foster brand loyalty, Gatsby Chocolate conducts regular giveaways on their social media platforms and offers promotions such as buy 2 get 1 free offers. 

These initiatives create excitement among their customers and help build a strong community around their brand.

Appearing on Shark Tank provided Gatsby Chocolate with a platform to showcase their innovative product and propel their business forward. They have successfully disrupted the chocolate industry with their low-calorie and healthier options, expanded their distribution channels, gained consumer trust, and established themselves as a leading chocolate brand.

Also read, Worthy Brands Shark Tank Update | Worthy Brands Net Worth

Is Gatsby Chocolate Still In Business?

Our research shows that Gatsby Chocolate is still in business. The brand gained significant attention after appearing on Shark Tank Season 15, Episode 1, and has continued to succeed in the market. 

Gatsby Chocolate offers a range of low-calorie and low-sugar chocolate products that cater to health-conscious individuals and those with dietary restrictions.

The brand’s commitment to providing healthier alternatives without compromising taste has resonated with consumers, leading to positive reviews and recommendations. 

Gatsby Chocolate’s unique qualities, such as keto-friendly and vegan-friendly, have further contributed to its success and popularity.

Gatsby Chocolate can be purchased online through their official website, which provides easy access to their entire chocolate range. 

Additionally, Gatsby Chocolate can also be found in physical grocery stores, including popular chains such as Kroger, Ralphs, Fred Meyer, QFC, City Market, Mariano’s, Smith’s, Fry’s, Sprouts Farmers Market, Safeway, Albertsons, and select Walmart locations.

Furthermore, Gatsby Chocolate offers a rewards program called Gatsby’s Cash Club, where members can enjoy exclusive perks and discounts and even get a free Gatsby chocolate bar. 

This program aims to give back to loyal customers and provide additional benefits for supporting the brand.

Gatsby Chocolate is still in business and continues to provide indulgent yet healthier chocolate options for consumers.

What Is the Net Worth Of Gatsby Chocolate?

According to our research, the net worth of Gatsby Chocolate is estimated to be $3 million. The valuation of Gatsby Chocolate was $2.5 million after securing an investment from Lori Greiner and Mark Cuban on Shark Tank.

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