Gatsby Chocolate Shark Tank Update – Net Worth, Pitch & Deal

Doug Bouton and Ryan Bouton, founders of Gatsby Chocolate, appeared on Shark Tank Season 15, Episode 1, seeking an investment for their innovative low-calorie chocolate. Gatsby Chocolate stands out with half the calories and significantly lower sugar, carbs, and fat compared to premium chocolate brands.

The Bouton brothers, who previously co-founded Halo Top Ice Cream, asked for $500,000 in exchange for 5% equity in their company. Did they get a deal on Shark Tank or not? Let’s find out.

Gatsby Chocolate Net Worth

At the time of their appearance on Shark Tank, Doug and Ryan valued Gatsby Chocolate at $10 million, based on their ask of $500,000 for 5% equity. After successfully negotiating a deal with Mark Cuban and Lori Greiner for $250,000 in cash and a $250,000 loan in exchange for 20% equity, the valuation adjusted to approximately $1.25 million. Post-show, Gatsby Chocolate experienced a significant boost in both website traffic and sales. Considering the business growth over the subsequent years, the current net worth of Gatsby Chocolate is estimated at over $5 million​.

What Happened to Gatsby Chocolate After Shark Tank?

After their appearance on Shark Tank, Gatsby Chocolate experienced a surge in popularity and demand. They expanded their retail presence significantly, and they are now available at major retailers like Walmart, Kroger, Safeway, and Sprouts. The founders continue to innovate and market their products aggressively, using the expertise of Lori Greiner and Mark Cuban to refine their branding and distribution strategies.

Did Gatsby Chocolate Get a Deal on Shark Tank?

Yes, Gatsby Chocolate secured a deal from Mark Cuban and Lori Greiner. The agreement included $250,000 in cash and a $250,000 loan in exchange for 20% equity, with additional equity stakes at certain sales milestones.

Shark(s) nameOffer & DemandCounterofferAccepted?
Lori Greiner, Mark Cuban$250k + a $250k loan for a 20% stake, which increases to 30% at $10M in sales & 40% at $20M$250k + a $250k loan for a 20% stake, which increases to 30% at $10M in sales & 40% at $50MYes
Candace NelsonOutN/AN/A
Kevin O’Leary$500k as venture debt for 12% equityN/ANo
Daymond JohnOutN/AN/A

Gatsby Chocolate Shark Tank Update

gatsby chocolate net worth

Founders Backstory

Doug Bouton, co-founder of Halo Top, and his brother Ryan, the first employee at Halo Top, launched Gatsby Chocolate to replicate the success they had in the ice cream industry with a healthier chocolate alternative. Inspired by their journey with Halo Top and a desire to offer indulgent treats with fewer calories, the Boutons faced challenges such as establishing a distinct brand identity and securing widespread distribution.

Initial Pitch

what happened to gatsby chocolate after shark tank

Ryan and Doug, the co-founders of Gatsby Chocolate, present their healthier chocolate brand on Shark Tank with enthusiasm and confidence. With a background in success—Doug being a co-founder of the popular low-calorie ice cream brand Halo Top. They aim to replicate their success in the chocolate industry by offering a product with less sugar and fewer calories.

Gatsby Chocolate positions itself as the “Halo Top” of chocolate, a comparison that resonates due to Doug’s previous success. Their product is currently distributed nationally across major retailers like Walmart, Albertsons, Safeway, and Sprouts, with over 6,000 points of distribution. This wide availability is impressive and shows significant market penetration.

In the previous year, Gatsby Chocolate achieved sales of just over $2.5 million, a substantial portion of which occurred in the fourth quarter. Each chocolate bar retails for $3.99 and wholesales for $2.70, with a manufacturing cost of $1.90 per bar. This results in margins of 35%-40%, with the potential to reach 50% as the business scales.

However, despite the promising sales figures, Gatsby Chocolate has not yet achieved positive cash flow and reported a loss of $3.5 million in the previous year. The brothers highlight their clear strategy for improving margins and financial performance, but the current financial state indicates that they are still in the investment and growth phase.

Queries About The Product

Sharks inquired about the nutritional profile, ingredients, and current distribution. Gatsby Chocolate uses allulose, a natural sweetener, to replace sugar. The product is available in major grocery chains and has a significant retail footprint with over 6,000 distribution points.

Sharks’ Responses and Final Deal

did gatsby chocolate get a deal on shark tank

Daymond John says he loves the product but doesn’t think he can help much. He feels like he’d be asking Doug for advice instead of giving it, so he’s out.

Lori likes the idea and offers $250,000 for 20% of the company, plus another $250,000 as a loan with 6% interest. She promises to help them redesign the packaging and is very enthusiastic about the deal.

Kevin O’Leary offers $500,000 as a loan in exchange for 12% equity in Gatsby Chocolate.

Guest shark Candace Nelson, the founder of Sprinkles Cupcakes, loves the chocolate but not the branding. She decides to go out but suggests the guys team up with Lori.

After some negotiation, Mark Cuban and Lori teamed up and offered $500,000, split evenly between a loan and equity for 20% of Gatsby Chocolate. They sweeten the deal by promising an increase in equity to 30% when sales hit $10 million and 40% at $20 million.

Concerned about the high sales targets for increased equity, Doug suggests a similar deal but with the 40% equity kicking in at $50 million in sales. Mark and Lori agree, and the brothers accept the offer.

Product Availability

Gatsby Chocolate offers several flavors, including Fudge Brownie, Sea Salt Extra Dark, Almond Dark, and Cookies & Cream. These products are available online through their official website and at major retailers like Walmart, Kroger, Safeway, and Sprouts. Prices range around $3.99 per bar, competitive for the low-calorie chocolate market.


Gatsby Chocolate’s journey on Shark Tank highlighted the company’s innovative approach to healthier chocolate. With the backing of Lori Greiner and Mark Cuban, Gatsby Chocolate is poised for significant growth. The brand continues to expand its market presence, aiming to redefine indulgence with health-conscious consumers. Future updates will likely reveal further advancements and potential new product lines, continuing the legacy of their founders’ previous success with Halo Top.

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