Kodiak Cakes Shark Tank Net Worth
As of 2023, Kodiak Cakes has a net worth of $160 million. The company appeared on Shark Tank in 2014, seeking a $500,000 investment for a 10% equity in their business but did not secure a deal with any of the sharks.
Despite not having a Shark’s backing, Kodiak Cakes made $54 million within the next four years. The company expanded its product line to include items like granola bars and microwaveable cups.
Today, all their products are available at Walmart, Target, Amazon, and KodiakCakes.com.
Kodiak Cakes is a company that offers whole-grain, protein-powered pancake and waffle mixes, frozen waffles and pancakes, oatmeal, baking mixes, and snacking products. The company was valued at $5 million during and after the Shark Tank pitch. However, since then, the company has experienced significant growth and success, leading to a substantial increase in its net worth. The company’s founders, Joel Clark and Cameron Smith, have a net worth of $160 million as of 2023.
In July 2021, Kodiak Cakes was acquired by a private equity firm called L Catterton. No details were shared on the acquisition price. Despite the acquisition, Kodiak Cakes continues to operate and expand its product line.
What is Kodiak Cakes and Who is the founder of Kodiak Cakes?
Kodiak Cakes is a brand that specializes in producing vegan pancake mixes and frozen waffles that are healthier and more flavorful. They incorporate pea protein along with whey protein to create plant-based breakfast options that are suitable for health-conscious consumers.
Joel Clark is the co-founder and CEO of Kodiak Cakes. He obtained a BA in Economics from the University of Utah before completing his MBA at Oxford University in England.
Joel’s mother initiated the business in 1982 by selling dry ingredients in paper bags, and at the age of 8, Joel helped her by selling the bags in his neighborhood. By 1994, Kodiak Cakes became a legitimate company.
Kodiak Cakes products can be found in various stores, including Amazon, Wal-Mart, Safeway, Albertsons, The Fresh Market, and other popular supermarkets. They plan to expand further by launching their Power Cakes in Target stores across the country in June.
Kodiak Cakes noticed the need for a nutritious and non-GMO product, and they started by selling their mix in ski communities, which gradually expanded. Jon, Joel’s brother, was involved in the initial stages of Kodiak Cakes, but he eventually left the company.
Joel, on the other hand, quit his consulting job in 2004 to concentrate on Kodiak Cakes. The pancake mix was released in 2012, and the company has grown since then.
Kodiak Cakes’ pitch Shark Tank?
Cameron Smith and Joel Clark presented their hearty flapjack and waffle mixes, Kodiak Cakes, to the Sharks in episode 522, hoping to secure retail distribution introductions and financing for expansion.
Their firm was valued at $5 million, and they sought $500,000 in exchange for a 10% stake in the company. They provided the Sharks with samples of Kodiak Cakes and fruit-flavored syrups and revealed they had secured a deal with Target with a $260,000 purchase order and projected sales of over $1 million in the next year.
The duo sought funding for slotting fees, marketing, and expanding the business to achieve $20 million in revenue within four years and eventually sell the company for $30 million. Despite Kevin O’Leary’s offer of $500,000 for 50% ownership, the couple declined and ultimately walked away from the Sharks with no deal.
Despite this, Kodiak Cakes has continued to thrive, expanding into more large retailers and gaining approval as a food item for niche markets such as Weight Watchers, Diabetic Living, and Shape Magazine. The Shark Tank effect helped boost their reputation, and by 2020, they were a $200 million company with over 26,000 outlets.
In May 2021, the private equity firm L Catterton purchased Kodiak Cakes for an unknown sum, and Cameron and Joel remain employed by the organization as of January 2022.
Competitors of Kodiak Cakes
INBISCO, Pagen, COBS Bread, and Ghirardelli are some of Kodiak Cakes’ main competitors.
Net Worth of Kodiak Cakes
The company was valued at $5 million during and after the pitch, in 2022 the company has a net worth of $160 million.
Kodiak Cakes Shark Tank Updates
Kodiak Cakes is a company that produces pancake and waffle mixes, as well as other breakfast foods, that are whole grain and protein-packed.
The company made an appearance on Shark Tank in episode 522, with founders Joel Clark and Cameron Smith seeking a $500,000 investment in exchange for a 10% equity in the business.
The pair provided samples of their products, including their line of fruit-flavored syrups, to the Sharks.
Although the Sharks enjoyed the samples, they were doubtful of the founders’ valuation of Kodiak Cakes and the risk of competing with more established health food brands. The pair turned down both offers, feeling the valuations were too low, and walked away with no Shark deal.
Despite not receiving a deal from the Sharks, Kodiak Cakes has experienced a surge in popularity since Joel and Cameron’s appearance on Shark Tank. The brand has expanded into even more major retailers and has become an official food for Weight Watchers.
In 2021, the company was acquired by a private equity brand for an undisclosed amount. As of 2022, the net worth of Kodiak Cakes is estimated to be about $10 million.
Kodiak Cakes Shark Tank Summary:
This table provides a summary of information about Kodiak Cakes, a brand specializing in healthy and flavorful pancake mixes and frozen waffles. It includes details about the company’s history, founder, Shark Tank pitch, competitors, and net worth.
|Shark Tank Pitch
|Sought $500k investment for 10% equity
|No deal was made with the sharks
|Expanded product line to granola bars and cups
|Available in Walmart, Target, Amazon, KodiakCakes.com
|Purchased by L Catterton in July 2021
|INBISCO, Pagen, COBS Bread, Ghirardelli
|Net Worth (2023)
|Vegan pancake mixes, frozen waffles, oatmeal, baking mixes
|Protein-powered, non-GMO, and nutritious
|BA in Economics from the University of Utah
|MBA from Oxford University in England
Kodiak Cakes FAQs
What Are Kodiak Cakes And How Does It Work?
Kodiak Cakes is a brand of whole-grain pancake and waffle mixes that was founded in 1982 as a family brand.
The brand is based in Park City, Utah, and has expanded to market protein-enhanced pancake and waffle mixes, individual oatmeal, brownie mixes, frozen prepacked waffles, frozen prepacked pancakes, granola protein bars, and fruit syrups.
Kodiak Cakes’ sales rose from $3.6 million in 2013 to $6.7 million in 2014 after appearing on Shark Tank. The brand has nearly 45 products, including everything from cornbread mix to cinnamon power.
Kodiak Cakes’ success can be attributed to its innovative products, such as its Protein Power Cakes, made with 100 percent whole grains, non-GMO ingredients, and packed with 14 grams of protein per serving.
The brand has become the top-selling pancake mix brand at Target, beating out Aunt Jemima and Bisquick. Kodiak Cakes was recently acquired by private equity firm L. Catterton for an undisclosed sum and is now sold in more than 26,000 retail locations.
Kodiak Cakes’ president, Cameron Smith, said that the brand’s success did not happen overnight and that it has been through at least two phases. The first phase was when Clark’s brother ran the business and established the look and feel of the brand, including naming.
The second phase was when Smith joined the company 11 years ago and helped to build the brand into what it is today. The pancake mix category is now over $500 million, thanks in large part to emerging innovative brands such as Kodiak Cakes.
What Was The Outcome Of Kodiak Cakes’ Pitch On Shark Tank?
Kodiak Cakes was featured on Shark Tank in episode 522, where they sought a $500,000 investment in exchange for a 10% equity in their company. Although the sharks enjoyed the product samples, they were hesitant about the founders’ valuation of the company and the risk of competing with established health food brands.
Despite receiving two offers, the founders declined both since they believed the sharks undervalued their business. Ultimately, Kodiak Cakes did not make a deal with any of the sharks.
However, the appearance on Shark Tank brought tremendous exposure to Kodiak Cakes and contributed to its popularity. The brand now offers a range of new products, including oatmeal and ice cream, and has garnered media attention across the country.
As of 2022, the net worth of Kodiak Cakes is estimated to be around $10 million, and the company was acquired by a private equity firm in 2021 for an undisclosed amount.
What Happened To Kodiak Cakes After Shark Tank?
Kodiak Cakes is a healthy pancake mix brand that was featured on Shark Tank in episode 522. The founders, Cameron Smith and Joel Clark sought a $500,000 investment in exchange for 10% of their business.
Although the Sharks enjoyed the samples, they were hesitant to invest due to the risk of competing with more established health food brands. Kodiak Cakes received two offers, but the founders declined them as they felt the valuations were too low. However, despite not receiving a deal, Kodiak Cakes has become very successful.
As of 2018, the brand had earned around $54 million. In May 2021, private equity group L Catterton acquired the company for an undisclosed amount. Both Cameron and Joel still work for the company, with Joel serving as the CEO and Cameron as the President.
Kodiak Cakes has expanded into even more major retailers and has become an “official food” for Weight Watchers and diabetic living. The brand has also contributed to grizzly bear conservation through Vital Ground. As of 2022, the net worth of Kodiak Cakes is approximately $10 million.
What Was The Valuation Of Kodiak Cakes Before And After Shark Tank?
Kodiak Cakes, a company that offers whole-grain, protein-powered pancake and waffle mixes, frozen waffles and pancakes, oatmeal, baking mixes, and snacking products, appeared on Shark Tank seeking a $500,000 investment for a 10% equity in their business but did not secure a deal with any of the sharks.
Despite this, the company experienced significant growth and gained exposure from its appearance on the show.
By 2018, Kodiak Cakes had earned around $54 million and had expanded its product line to include oatmeal and ice cream. In 2021, the company was acquired by a private equity firm for an undisclosed amount.
As of 2022, the net worth of Kodiak Cakes is about $10 million. The company has also contributed to grizzly bear conservation through Vital Ground.
Who Acquired Kodiak Cakes and For How Much?
Kodiak Cakes is a brand that offers healthy food options such as whole-grain, protein-packed pancake and waffle mixes, oatmeal, frozen waffles and pancakes, baking mixes, and snacks. The brand was acquired by private equity firm L Catterton in May 2021 for an undisclosed amount.
The acquisition allowed existing shareholders, including Sunrise Strategic Partners, Trilantic North America, and the company’s founders and management team, to continue to own a significant minority stake in the business.
Joel Clark, co-founder, and CEO of Kodiak Cakes, expressed excitement about the partnership, saying that L Catterton shares their vision and has a track record of helping iconic CPG brands grow.
L Catterton is the largest global consumer-focused private equity firm, with approximately $30 billion in equity capital. The firm has invested in other popular food brands, such as The Honest Company, Cholula hot sauce, Home Chef, Plum Organics, and Sweet Leaf Tea.
Kodiak Cakes chose to partner with L Catterton due to the firm’s previous experience in the food industry.
What Are Some Of The Other Products Offered By Kodiak Cakes?
Kodiak Cakes offers a variety of breakfast foods, including whole-grain pancake and waffle mixes, protein-enhanced pancake and waffle mixes, individual oatmeal, brownie mixes, frozen prepacked waffles, frozen prepacked pancakes, granola protein bars, and fruit syrups.
The brand is committed to inspiring healthier eating and active living with great-tasting products that are 100% whole grain, protein-packed, and non-GMO.
Kodiak Cakes also offers a Carb Conscious line of products, which includes pancake and waffle mixes that are lower in carbohydrates and higher in protein.
The brand has been successful in the pancake mix category, which is over $500 million, thanks in large part to emerging innovative brands such as Kodiak Cakes.
Did Kodiak Cakes Get A Deal On Shark Tank?
No, Kodiak Cakes did not get a deal on Shark Tank. Joel Clark and Cameron Smith pitched Kodiak Cakes on episode 522, seeking a $500,000 investment in exchange for 10% equity in the company.
Although the Sharks enjoyed the samples, they were skeptical of the valuation and the risk of competing with established health food brands. Kodiak Cakes received two offers, but the founders declined both, feeling the valuations were too low.
Ultimately, they walked away without a deal. However, Kodiak Cakes has experienced a boom in popularity since appearing on Shark Tank, and as of 2022, the net worth of the company is estimated to be around $10 million.
How much were they seeking on Shark Tank?
Is Kodiak Cakes still in business?
As of January 2022, Kodiak Cakes is still doing business. The company was purchased by L Catterton for an undisclosed amount of money in May 2021.
Is Kodiak Cakes successful?
Both the founders and their company are very successful. The company made $16 million in revenue in 2016 alone. In 2020, it might rake in as much as $200 million in sales.
What is the net worth of Kodiak Cakes?
As of January 2022, the company is worth $160 million.
What is Kodiak Cake’s main product?
Kodiak Cakes is a pancake and waffle mix. Its main product is the Kodiak Cakes mix.
Where is the company based?
The company is based in Minneapolis and has offices all over the world. They have offices in New York City and Los Angeles too.
Are Kodiak Cakes genuinely healthy?
According to the 2019 complaint, Kodiak Cakes do not meet the FDA’s “healthy” requirements since they include harmful amounts of fat and saturated fat, as well as significant levels of sugar. Sugar consumption has also been linked to heart disease, diabetes, cancer, and obesity.
Can Kodiak Cakes aid in weight loss?
For my customers who are hungry and want to eat real food, I recommend Kodiak Cakes since they are low-calorie (190 calories per serving) and keep them fuller for longer.
Most clients shed more body fat and stay on pace to meet their fitness objectives when they eat a high-protein breakfast.
How many pancakes can a box of Kodiak Cakes produce?
However, it is not a standard “cake mix,” but rather a flapjack/pancake and waffle mix. The recipe specifies how much mix and fluid (water or milk) to use based on the number of pancakes or waffles they wish to produce. Each package yields around 104-inch pancakes.
Is there protein in Kodiak Cakes?
Kodiak Cakes Buttermilk Power Cakes are meticulously made with 100% whole grains and 14 grams of protein per serving to provide people with the great-tasting sustenance they need to get through the day.
Are Kodiak Cakes Good for your heart?
For example, their Cinnamon Coffee Cake recipe uses Kodiak Cakes Cinnamon Oat Power Cakes, which are 100 percent whole grains, and each piece has a healthy dosage of oats, almonds, and walnuts, making it a wonderful heart-healthy snack!
How long does Kodiak Cakes stay fresh?
Once opened, they recommend that customers consume them until the expiration date. They also recommend that they keep their Kodiak Syrup refrigerated once the bottle has been opened.
An unopened bottle has a two-year shelf life. Once opened, they recommend storing it for no more than three months.
Why are Kodiak Cakes so delicious?
Kodiak Power Cakes aren’t anything out of the ordinary; they’re basically whole wheat buttermilk pancakes with 14 grams of whey protein isolate per serving.
Power Cakes “struck a home run” with millennials, according to Joel Clark, CEO of Kodiak Cakes, since they’re nutritious, taste fantastic, and are very handy.
Do Kodiak Cakes have a decent flavor?
If they’re not sure what flavor I’m referring to, it’s difficult to describe, but think. Basic and a little chalky. However, I believe they taste wonderful altogether.
They aren’t particularly sweet to me, but they have a fantastic texture, and I love that I’m having a quick, substantial, and nutritious breakfast!
What is the net worth of Cameron Smith?
Cameron Smith has an estimated net worth of $700,000.
What is the net worth of Joel Clark?
Joel Clark has an estimated net worth of $200,000.