GATSBY Chocolate Valuation – Shark Tank Update (Season 15)

Shark Tank returns for its 15th season, and among the businesses that premiered this season was GATSBY Chocolate. Founded by Doug and Ryan Bouton, the company sells a line of low-calorie chocolate bars, including dairy-free and gluten-free flavors. They struck a deal with Mark Cuban and Lori Greiner. After the show, GATSBY Chocolate was valued at $3 million.

Doug and Ryan Bouton

On the show, Doug and Ryan offer a fun take on a beloved snack. While their chocolate is lower in sugar, they don’t sacrifice taste for nutritional value. This resonates with viewers who have a sweet tooth but want to maintain a healthy diet.

Doug Bouton is no stranger to dough-making in the food industry as co-founder of Halo Top, a low-calorie ice cream brand with $250 million in annual revenue and an undisclosed price tag.

Doug was a former attorney, and leaving the legal profession was a wise career choice. After the sale of Halo Top, he had more money and began to consider the chocolate business.

This time, he brought his family along. One of his most trusted colleagues was his brother, Ryan, who also helped Doug when he ran Halo Top. The connections they made during that time helped them launch their second business.

Founded GATSBY Chocolate

GATSBY Chocolate launched in 2022 with 10 chocolate products that taste similar to regular chocolate but contain 75% less sugar. All ingredients are plant-based and contain almost no cocoa butter because the founders wanted to reduce fat.

The bars contain only 180 to 210 calories, and the startup has been recognized by media outlets such as Forbes as offering the “lowest calorie chocolate on the market.”

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The brothers’ pitch was spot on, but the Sharks weren’t happy with their $3.5 million loss in 2022. They struck a deal with Mark and Lori to acquire 20% of the brand for $250,000 in cash and a $250,000 loan.

After Shark Tank

When the episode aired in September 2023, the founders noticed a significant increase in website traffic and emails from interested customers. The first 48 hours after a show airs are usually the toughest because Doug and Ryan find out very late that their episode is going to air.

It looks like the deal with Mark and Lori hasn’t closed yet, as Shark Tank doesn’t list the business on its site. Perhaps the deal is still in the due diligence phase. The founders could be exiting the deal, as Mark and Lori’s equity would increase to 40% once sales reach $50 million. Also, no rebranding has been done yet.

You can’t buy it directly from their website because shipping the chocolate is too expensive. If you visit, you can check out their store locations. GATSBY is now available at Walmart, Sprouts, Pavilions, Safeway, Albertsons, and Vons. Alternatively, you can check out their Amazon store.

GATSBY Chocolate prides itself on being the #1 ranked chocolate on, where they have thousands of five-star reviews. Currently, despite the tough economic times, the company’s business is in strong shape. I would not be surprised if GATSBY Chocolate is acquired by a larger competitor within the next two years.

Categories: Shark Tank

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