Wicked Good Cupcakes Shark Tank Net Worth 2023
Since its conception in March 2021, Wicked Good Cupcakes has been on a steady trajectory to success, with its value climbing to an estimated $100 million by 2023.
This remarkable growth culminated in June 2021 when the company was acquired by Hickory Farms for more than $15 million.
It is clear that Wicked Good Cupcakes have established itself as a formidable force within the confectionary industry and will continue to expand rapidly as it secures further investments.
What is Wicked Good Cupcakes?
Wicked Good Cupcakes is a bakery located in Boston that specializes in selling cupcakes in unique clear jar packaging both online and in-store. The cupcakes are known for their delicious taste and are a favorite treat among many.
The company was founded by Tracey Noonan and Danielle Descroches, who started sharing pictures of their baking creations online after taking a cake decorating class. Upon receiving numerous requests for their cupcakes from friends and family, Noonan and Descroches decided to package their cupcakes in jars and ship them out.
In 2011, Wicked Good Cupcakes opened a physical store in Cohasset. That same year, a Wicked Good Cupcake was confiscated by TSA at the Boston airport due to exceeding the three-ounce limit for liquid frosting. This event brought attention to the company and led to an increase in sales.
Wicked Good Cupcakes was featured on Season 4 of Shark Tank, where it received a $75,000 investment from Kevin O’Leary in exchange for royalties. O’Leary received $1 for every cupcake sold until his investment was returned, and then $.45 for each cupcake sold after that.
What happen to Wicked Good Cupcakes at the Shark tank pitch?
Tracy and Danielle became business partners after bonding over baking classes and started a bakery together. They achieved success by utilizing jars to package their cupcakes, making shipping easier. Their total sales for the year are projected to reach $360K, with $73K coming from mail orders.
In an effort to secure additional funding for their business, they pitched it to potential investors. However, only Kevin, who is also known as Mr. Wonderful, showed interest. While he loved their cupcakes, he did not want to take a share of the company.
Instead, he proposed receiving royalties of $1 per cupcake sold until he recouped his investment, and then $0.5 per cupcake thereafter. After negotiations, they settled on a deal for Kevin to receive 45 cents per cupcake sold.
Wicked Good Cupcakes after the Shark Tank
Wicked Good Cupcakes, a company that was featured on the TV show Shark Tank in 2013, recently provided an update on their progress in June of that same year.
Since their appearance on the show and their successful investment from Kevin O’Leary, the company has experienced substantial growth. They now own a 15,000 square foot commercial baking facility, opened a shop in Faneuil Hall, and launched a third shop in South Shore Plaza Mall in Braintree, Massachusetts.
In addition to this, they returned all of the funds invested by O’Leary and were on track to surpass $2 million in yearly sales.
O’Leary, known as “Mr. Wonderful” on the show, even participated in a wedding ceremony in Nantucket and announced plans to launch a wedding industry sales and marketing platform called “Something Wonderful”.
This platform would merge his Shark Tank companies and is expected to be worth hundreds of millions of dollars.
Other Nantucket startups that received investment from O’Leary, such as HoneyFund and Bottle Breacher, also achieved significant success, with combined sales of $5.5 million since partnering with Kevin.
On June 24, 2021, the company was purchased by Hickory Farms for an undisclosed amount. The cupcakes will still be available on WickedGoodCupcakes.com but will also be sold on hickoryfarms.com starting later this year.
Net worth of Wicked Good Cupcakes
Wicked Good Cupcakes is valued at more than $15 million as of March 2021.
Wicked Good Cupcakes Competitors
Some of the main competitors of Wicked Good Cupcakes include Yummy Cupcakes, Sprinkles, Cookiehead Cookies, Heirloom LA, Larry’s Cookies, Brand Castle LLC, Mini’s Cupcakes and Cupcake Craving.
FAQS of Wicked Good Cupcakes
When exactly did Wicked Good Cupcakes started?
Wicked Good Cupcakes began in 2011 as a means for a mother and daughter from Boston to spend more quality time together.
Who founded Wicked Good Cupcakes?
Tracey Noonan and Danielle Desroches, a mother-daughter partnership, founded Wicked Good Cupcakes in Cohasset, MA.
How Wicked Good Cupcake did began?
They had the idea shortly after leaving the workshop where they intended to offer home-crafted cupcakes made with love and hard effort.
This led to the concept of launching the cake in a jar business that had a compact portable way to savoring your sweet sweets.
How did they pitched at Shark Tank?
The duo begins by stating that they require a 75,000 investment for 20% of the business and explaining how they needed time together and how this business was allowing them to do just that.
What was the deal?
Tracy Noonan and Danni Vilagie, a mother-daughter duo, came to the shark tank in 2013 seeking an investment of $75,000 for a 20 percent equity business, and the shark fell in love with their sweet treats.
What has been the impact of Shark Tank on business?
Tracey and Danielle need the sharks’ assistance in order to meet demand and bring a completely new idea to market.
Tracey and Danielle need the sharks’ assistance in order to meet demand and bring a completely new idea to market. They came to the show requesting $75,000 with 20% equity in the business.
Wicked Good Cupcakes had made $150,000 in sales since the beginning of the year, half of which came from the jars.
Tracey and Danielle’s business has thrived since appearing on Shark Tank.
What does the future hold for Wicked Good Cupcakes?
The original bakery is in the beautiful coastal hamlet of Cohasset on Boston’s South Shore, but the Wicked Good women have joined with a huge commercial bakery to make more sweets, and a Fanuel Hall facility will open in May 2013.
What’s the deal?
Kevin had requested $1 each cupcake sold until he recoups his initial investment, then $0.40 per cupcake in perpetuity.
What happened after the deal?
Wicked Good Cupcake’s business increased by 600 percent in the year after its shark tank debut.
They also acquired a 15,000 square foot commercial baking facility, launched a shop in Faneuil Hall, and a third shop in the South Shore Plaza Mall in Braintree, MA since appearing on the show and striking a deal with Kevin O’Leary.
Tracey Noonan and Danielle Vilagie: Who Are They?
Tracey Noonan and Danielle Vilagie are the co-founders of Wicked Good Cupcakes.
Wicked Good Cupcakes made how much money?
Wicked Good Cupcakes achieved $200,000 in sales in the first week after appearing on Shark Tank.
How is the product made?
Wicked Good Cupcakes are delectable pastries that come in unique clear jar packaging.
Each cupcake would be placed in a mason jar and accompanied by layered filling, frosting, and a spoon.
What exactly is Wicked Good Cupcakes?
Wicked Good Cupcakes is a cupcake bakery in Boston that sells cupcakes in jars both in-store and online.
What is the price of the Wickedly Good Cupcakes?
4 cupcakes are $28.95 plus shipping at the time of this writing.
What happen to Wicked Good Cupcakes at the Shark tank pitch?
Wicked Good Cupcakes had an appearance on Season 4 of Shark Tank, when Kevin O’Leary gave it a $75,000 investment in exchange for royalties.
O’Leary was paid $1 for each cupcake sold until his investment was returned, then $.45 for each cupcake sold after that.
What is Wicked Good Cupcakes?
Wicked Good Cupcakes are delicious treats that come in unique clear jar packaging.
Tracey Noonan and Danielle Descroches, mother and daughter, founded Wicked Good Cupcakes.
They started posting images of their baking online after attending a cake decorating class.
The product was requested by friends and family, and Noonan and Descroches packaged the cupcakes in a jar to ship them.
What Happened To Wicked Good Cupcakes?
Food gift retailer Hickory Farms has acquired Wicked Good Cupcakes.
What cupcake does Kevin O’Leary own?
The founders of Wicked Good Cupcakes talk about their success. October 14, 2013 – Kevin O’Leary – We are the American Idol of venture capital.
October 10, 2013 – Shark Tank’s Kevin O’Leary talks about his involvement with Wicked Good Cupcakes.
How long do Wicked Good Cupcakes last?
Wicked Good Cupcakes last up to 10 days without refrigeration.
The company recommends enjoying the treats within 7 days of receiving them. Refrigeration does not extend the shelf life. They should be kept in a cool, dry place.
What episode was Wicked Good Cupcakes?
Shark Tank season 4 episode 22.
How do you defrost Wicked Cupcakes?
Later, when you are ready to use it, thaw it in the refrigerator. This may take anywhere from 6-12 hours depending on the size of the cake.
Is Wicked Good Cupcakes still in business?
Hickory Farms, known for its meat and cheese gift sets, has acquired Wicked Good Cupcakes.
How long does cake in a jar stay good?
Cake in a Jar can be stored in the refrigerator for 3-4 days and will stay fresh. When you are ready to eat, take the jars out about 20 minutes before and enjoy.
How do you store Wicked Good Cupcakes?
Do the jars require refrigeration? Our cupcake and pie jars do not need to be refrigerated, however, they should kept in a cool, dry place.
When did Wicked Good Cupcakes air on Shark Tank?
It was on June 2013.
Who was the investor on Wicked Good Cupcakes?
O’Leary offered the company $75,000 for equity in exchange for royalties. The business has since returned all of his investment.
Does Wicked Good Cupcakes have a website?
Yes, they have two websites. One is www.wickedgoodcupcakes.com and the second one is www.hickoryfarms.com .
Where are Wicked Good Cupcakes made?
They are made in Massachusetts.
Did Wicked Good Cupcakes make money on Shark Tank?
Yes, they did. They got $75,000 investment from Kevin O’Leary and the entire recipe has been posted on their website.
Where can I get a list of ingredients for Wicked Good Cupcakes?
Ingredients: Unbleached Wheat Flour, Natural Cream Flavouring, Sugar, Vegetable Oil (Coconut Oil and Palm Kernel Oil), Water, Baking Soda, Salt.
All cupcakes are dairy free and vegan except for the Boston cream pie (contains honey).