There is no certain age for loving chocolates, but there are indeed some side effects of consuming sugar regularly. Addressing the concern, Gatsby Chocolate has introduced chocolate bars that are low-calorie and have 75% less sugar than the usual chocolate available in the market. They have become a preferred name in the world of confectionery, especially amongst the health-conscious people.
Founded by the Bouton brothers, Doug and Ryan, Gatsby chocolates were already gaining popularity for introducing low-calorie chocolates in different brands. Their popularity reached its peak when they appeared on Shark Tank. Let’s explore in detail what happened post their appearance on the show and at what position they are at present.
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About the Brand
Gatsby Chocolate was founded back in 2021 by the brothers Doug and Ryan Bouton and was made available to customers in the same year. It was featured in selected retail outlets and online stores. The brand was marketed as low-calorie chocolates, along with being dairy-free and gluten-free.
Initially, it made to market only in milk and dark chocolate bars, and later, more flavours were introduced, like peanut butter cups and almond dark chocolates. In early 2022, the products made it to the shelves of many retailers dealing with health products like Fresh Thyme Market and Sprouts Farmers Market. Later, the brand appeared on Shark Tank Season 15, Episode 1, which aired on 29th September 2023.
About the Founders
Gatsby Chocolate was founded by the brothers Doug Bouton and Ryan Bouton, and Doug earlier co-founded Halo Top Ice Cream, based on the same model of a low-calorie dessert brand that became one of the top-selling brands in the USA. After the success of the dessert brand, Doug shifted its focus to the chocolate industry and founded Gatsby Chocolate in 2021.
Ryan Bouton has a background in food entrepreneurship and co-founded Gatsby Chocolate. His expertise helped the brand gain popularity in a very short time. Their combined efforts took the brand to the top.
What Happened on Shark Tank?
The pitch of the Gatsby Chocolate appeared in Shark Tank Season 15, Episode 1, which aired on 29th September 2023. Both the founders presented the brand as the “Halo Top of Chocolate,” and its low-calorie and low-sugar content that doesn’t reduce the sweetness and flavour of the bars. Doug’s association with Halo Top Ice Cream also helped him gain interest from the sharks.
In the pitch, the brother explained how they have utilized the Micro-Aeration process that makes the chocolate contain only half the calories of traditional chocolates. They asked for $500,000 for 5% equity stake in the company and valued the brand at $10 million.
The sharks raised concern over the evaluation of the company, and Mark Cuban and Lori Greiner offered $250,000 investment and $250,000 loan in exchange for 20% equity, which was accepted by the founders.
Is the Brand Successful?
Post its appearance on Shark Tank, the brand gained more attention and was featured by major stores like Walmart, Sprouts, Safeway, and has over 6000 points of distribution. They even introduced more flavours like Almond Dark, Sea Salt Extra Dark, Cookies & Cream, and non-dairy products.
At present, the estimated net worth of Gatsby Chocolate stands at $3 million and is expected to grow further in the future.
