Chocomize Shark Tank Update | Chocomize after the Shark Tank Pitch
What is 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.
Who is the founders of Chocomize?
Mr. LaCava, Eric Heinbockel and Fabian Kaempfer.
What happen to Chocomize at the Shark Tank Pitch?
Joe appeared on Shark Tank season 5 episode 10 on November 22nd, 2021 and pitched his “sweet take on personalization.” He was looking for $500k in exchange for a 20% stake in Chocomize. This indicates a $2.5 million valuation.
Joe briefed the Sharks about Chocomize with his heavy Boston accent, letting them know that his chocolate bars were distinct from the others.
He displayed the website’s customizing process and served the Sharks their own bespoke chocolate bars.
Lori recognized him as a Bostonian immediately away because of his accent.
The Sharks finished their bars and began answering questions. Everything is edible, as Robert inquired.
Joe reveals that he and one other partner own 18 percent, and the firm founder owns the remaining 50 percent.
Robert inquires about figures, and Joe responds that they made $450,000 in sales in the previous fiscal year. The Sharks are wary since they did $500,000 in sales the previous year.
Joe says that the drop in sales is due to their production plant being re-tooled.
Mr. Wonderful quickly dismisses the product as being too specialized.
Nobody can be “dominant” with $500K in sales, according to Mark Cuban.
Joe notes that each bar retails for $6-$6.50 and costs $2 to create; those are solid profits.
Mr. Wonderful is curious as to how he plans to “reclaim his chocolate.” Mark believes he can replicate the business, as does Mr. Wonderful.
He claims he’ll offer Joe a 25% stake in his new firm, “Mr. Wonderful’s Customized Chocolate.”
Joe is required to quit Chocomize and work for him. Kevin, according to Mark, can run any firm – all the way to the ground!
Robert like the chocolate, but he believes the market is too narrow for him — he’s out. Mark, who believes Joe hasn’t distinguished himself sufficiently, is also gone.
Barbara believes it will take too long to turn a profit, therefore she is leaving.
Lori believes it isn’t “large” enough for her, so she’s out as well.
Kevin then makes a formal employment offer to Joe, but he rejects. Mr. Wonderful says he’s going to get a “you’re dead to me” bar online and then go out.
Chocomize after the Shark Tank Pitch
Chocomize achieved success after Shark Tank, of course — like with most of the entries on Shark Tank, the website nearly crashed during the screening of the Chocomize piece.
Chocomize has had a lot of success in the corporate business sector since its inception as an option to create entertaining, personalized chocolate bars.
Joe departed Chocomize in January 2014 to become a trader in Singapore, according to LinkedIn. He is presently a Centareum International bitcoin investor.
Chocomize cites Google, Land Rover, and Quiksilver as clients five years after the Shark Tank episode aired.
Joe continues to expand the product portfolio throughout the years. They currently sell personalized candies, mints, truffles, toffee, and other items. They are still in business with $5 million in yearly sales as of August 2021.
Chocomize Net Worth
Joe was looking for $500k in exchange for a 20% stake in Chocomize. This indicates a $2.5 million valuation.
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.
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:
– Credit Card (Master, Visa, American Express, or Discover Card).