Chocomize Shark Tank Net Worth 2023
Joe Dauenhauer pitched Chocomize on Shark Tank in November 2013. He was seeking $500K for 20% equity in Chocomize, which gives it a valuation of $2.5 million.
Although he failed to land a deal with the Sharks, Chocomize continues to grow and expand into new markets.
As with most customizable food products, Chocomize has expanded further into the corporate-gifts niche, landing orders from companies like Google and Buick.
Chocomize started with an initial $70k in working capital and grossed over $400k in the first year alone. The company has continued to grow at a rapid pace as word is quickly spreading.
In 2017, the company made the decision to focus on corporate gifts which appears to be paying off. Five years after the Shark Tank episode aired, Chocomize counts big brands like Google and Land Rover among its clients.
What is Chocomize? Who is the founders of Chocomize?
Chocomize is a Long Island City, New York-based firm that allows users to create chocolate bars online.
Customers may select a shape, kind of chocolate (white, milk, or dark), and a topping, as well as add a message or company logo.
Customers may also incorporate a personalized edible message, such as Happy Birthday, or even photographic photos or business logos in their chocolate bar, making it ideal for celebrations and weddings.
The company was founded in 2009 by Dauenhauer and a handful of Columbia University pals who concluded that the economy was not working in their favour and decided to launch Chocomize.
They wanted to start an internet company and chose to make personalized chocolate bars.
To personalize their bar, they offer dark, milk, and white Belgian chocolate bases as well as over 100 mix ins, including BACON.
Customers may customize the chocolate bar with a remark, and they also offer a “chocolate bar of the month club.”
Customers may create their own chocolate bar using the “creation station” on their website, and they also sell pre-made bars with popular pairings.
Chocomize Shark Tank Pitch
On November 22nd, 2021, Joe pitched his unique take on personalization on season 5 episode 10 of Shark Tank. He was seeking $500k in exchange for a 20% stake in his company, Chocomize, which indicated a valuation of $2.5 million.
During his pitch, Joe introduced the Sharks to Chocomize’s distinctive chocolate bars and showcased the website’s customization process. He even served the Sharks their own bespoke chocolate bars, which they enjoyed.
However, when the Sharks started asking about the company’s financials, they became wary. Joe revealed that he and another partner owned 18% of the company, while the founder owned the remaining 50%.
He also disclosed that the company had made $450,000 in sales in the previous fiscal year, which was down from $500,000 the year before due to production plant changes.
The Sharks were not convinced, with Mr. Wonderful dismissing the product as too specialized and Mark Cuban believing that the market was too narrow. Barbara, Lori, and Robert also declined to invest.
Even though Joe did not secure a deal on the show, Chocomize achieved success afterward. The company has had many corporate clients, including Google, Land Rover, and Quiksilver. Joe left Chocomize in 2014 to become a trader in Singapore and is now a Centareum International bitcoin investor.
Chocomize has expanded its product portfolio over the years and now sells personalized candies, mints, truffles, toffee, and other items. As of August 2021, the company is still in business with $5 million in yearly sales.
Chocomize Net Worth
Joe was looking for $500k in exchange for a 20% stake in Chocomize. This indicates a $2.5 million valuation.
Chocomize Competitors
Chocolate Art by Lori Gail, Lune Chocolat, Thechocolatelife, Sweet Jenny’s Ice Cream, Fariello’s Confectionery, Niagara’s Honeymoon Sweets, Chocolate Works Nyc, A Picture Perfect Chocolate, Chocolats Meurens, and Cottontree Lodge are the top Chocomize’s competitive set.
Chocomize Shark Tank Updates
Chocomize is a custom chocolate bar business that appeared on Shark Tank Season 5 in 2013.
The company was founded by Eric Heinbockel, Nick LaCava, and Fabian Kaempfer, who created a website where customers can select from milk, dark, or white Belgian chocolate as the base and then add up to five ingredients.
The company gained a lot of publicity after appearing on Shark Tank, but they walked away without a deal.
Despite not getting a deal, Chocomize continued to grow and expand its product line. As of March 2022, the company is still in business with $4 million in annual revenue. They now sell customized candies, mints, truffles, toffee, and more with a focus on corporate gifting and wedding favors.
Chocomize shifted its focus from custom chocolate bars to customized candies and other products. The company is still in business and has continued to grow since appearing on Shark Tank.
Summary Table: Chocomize Shark Tank
| TOPIC | SUMMARY | |
| Company name | Chocomize | |
| Founders | Joe Dauenhauer and a group of friends from Columbia University | |
| Business model | An online custom chocolate bar and candy store | |
| Shark Tank pitch | Season 5, episode 11 in November 2013 seeking $500K for 20% equity | |
| Valuation | $2.5 million | |
| Result on Shark Tank | Did not receive a deal | |
| Focus after Shark Tank | Corporate gifting and wedding favors | |
| Competitors | Chocolate Art by Lori Gail, Lune Chocolat, Thechocolatelife, Sweet Jenny’s Ice Cream, Fariello’s Confectionery, Niagara’s Honeymoon Sweets, Chocolate Works Nyc, A Picture Perfect Chocolate, Chocolats Meurens, and Cottontree Lodge | |
| Current net worth | $5 million in yearly sales as of August 2021 | |
| Additional information | Expanded product line to include customized candies, mints, truffles, and toffee | |
Chocomize FAQS
What Is Chocomize Shark Tank?
Chocomize is a custom chocolate bar business that appeared on Shark Tank in season 5, episode 11 in 2013. The business was started in 2009 by Joe Dauenhauer and a couple of friends from Columbia University who wanted to start an online business.
They offer dark, milk, and white Belgian chocolate bases and over 100 mix-ins, including bacon, to customize your bar. Customers can personalize the chocolate bar with a note, and they have a “chocolate bar of the month club” too.
During their Shark Tank pitch, Dauenhauer asked for $500,000 for 20% of the Chocomize business. While the Sharks were impressed with the product, they ultimately did not invest. However, Chocomize continued to grow and made around $400,000 in sales from its first year in business.
The company was founded with $70,000 and created a website where customers can select from milk, dark, or white Belgian chocolate as the base, then add toppings and custom messages.
As of 2023, Chocomize is still in business and offers a variety of chocolate bars and gift sets on their website.
How Does Chocomize Shark Tank Work?
Chocomize is a custom chocolate bar business that was pitched on Shark Tank in season 5, episode 11. The business was started in 2009 by Joe Dauenhauer and a couple of friends from Columbia University who wanted to start an online business.
They decided to make customized chocolate bars with over 100 mix-ins, including bacon, and personalized notes. Initially, the company offered customizable chocolate bars with up to five ingredients.
However, after an influx of publicity from media powerhouses like Oprah Magazine, CNN, and The View, the company was inundated with orders.
On Shark Tank, Dauenhauer asked for $500,000 for 20% of the Chocomize business. While the Sharks were impressed with the product, they ultimately did not invest. However, Chocomize is still in business and has shifted its focus.
The company now offers customized chocolate bars through its website and social media platforms. Customers can select from milk, dark, or white Belgian chocolate as the base and choose from a variety of toppings and custom messages. Chocomize also offers a “chocolate bar of the month club”.
What Is The Current Valuation Of Chocomize Shark Tank?
Chocomize appeared on Shark Tank in November 2013, seeking $500K for 20% equity in the company, which gave it a valuation of $2.5 million. Although Chocomize failed to land a deal with the Sharks, it has continued to grow and expand into new markets.
As of 2023, Chocomize has a net worth of around $5 million USD. Since appearing on Shark Tank, Chocomize has secured additional funding and partnerships, leading to its estimated net worth of $5 million US.
Chocomize has expanded further into the corporate-gifts niche, landing orders from companies like Google and Buick.
What Happened To Chocomize Shark Tank?
Chocomize is a company that allows customers to customize chocolate bars online. The company was founded by Eric Heinbockel, Nick LaCava, and Fabian Kaempfer in 200.
In November 2013, CFO Joe Dauenhauer pitched Chocomize on Shark Tank, seeking an investment of $500,000 in exchange for 20% equity. However, he did not receive a deal.
Since then, Chocomize has continued to operate and has transitioned to fulfilling bulk orders for corporate gifting and retail channels.
In 2017, the company made the decision to focus exclusively on corporate gifts, which has paid off with big brands like Google, Land Rover, and Quiksilver as clients. The company has also launched new customizable products, including an edible “Chocolate Picture” printed directly on chocolate.
Joe Dauenhauer left the company in 2014 and is now a real estate investor and trader. The company has continued to add to its product line, selling customized candies, mints, truffles, toffee, and more.
What is Chocomize?
It is a Long Island City, New York-based firm that allows users to create chocolate bars online.
Who are founders of Chocomize?
It was founded by Joe Dauenhauer, Eric Heinbockel, and Fabian Kaempfer.
How much was he asking in the Shark Tank?
Joe was looking for $500k in exchange for 20% equity stake.
How much did he received in the Shark Tank?
Joe didn’t find an investment from Sharks.
When was Chocomize founded?
It was founded in 2009.
Where is Chocomize headquarters?
It is in Long Island City, New York.
Are they still in business?
Yes, they are still in business with annual sales of $5 million as of August 2021.
What are the top products?
It offers personalized chocolates, mints, truffles, toffee, and other items.
What is Chocomize current website address?
It is www.chocomize.com.
Can they place an order for their wedding products?
Absolutely! Many of their goods would make excellent wedding favours or decorations, and the minimum purchase requirements should cover the majority of circumstances.
Are their products Kosher?
The majority of their items are Kosher certified. Some goods are more difficult to certify than others (such as items containing marshmallows).
What are the allergy alerts associated with their products?
Their whole line of goods may contain traces of nuts, milk, and gluten.
What is the shelf life of their products?
All chocolate foods typically have a shelf life of roughly a year. Chocolate does not need to be refrigerated; in fact, it is best stored at room temperature.
The actual shelf life of each item may be found in the Product Details section of the specific product.
What distinguishes their products?
Their mission is to provide the greatest quality chocolate and confectionery items in the United States, which may be customized with their brand and design.
Do they ship outside of the United States?
They certainly do! They typically ship to Canada, the United Kingdom, Switzerland, Hong Kong, and other destinations.
What are strengths of Chocomize?
Their strengths are the flavours, variety, and general quality of the products.
Are Chocomize ingredients organic?
Most of their ingredients are organic.
What are weaknesses of Chocomize?
They are a little bit behind their competition in terms of market awareness.
How much does Chocomize bar cost to make and to sell?
Each bar is sold from, on average, $6 to $6.50, depending on what toppings and customization. It costs about $2 to make.
How do they pay?
They accept the following payment methods:
– PayPal
– Credit Card (Master, Visa, American Express, or Discover Card).
