Gatsby Chocolate Shark Tank Update – Shark Tank Season 15
Brothers Doug and Ryan Bouton launched Gatsby Chocolate, a plant-based, low‑calorie chocolate brand, on Shark Tank Season 15. They landed a deal with two of the Sharks!
Brothers Ryan and Doug Bouton want the Sharks to bite on Gatsby Chocolate, their plant-based, low-calorie chocolate bars and peanut butter cups, in Shark Tank Season 15 Episode 1 – the season 15 premiere. The brothers are no strangers to low-calorie eats.
Check out other Shark Tank Season 15 Episodes.
About Gatsby Chocolate
| Category | Details |
|---|---|
| Business Name | Gatsby Chocolate |
| Founders | Ryan Bouton and Doug Bouton |
| Industry | Chocolate (Food Products) |
| Product | Chocolate brand with less sugar and calories |
| Deal Status | Deal secured with Mark Cuban and Lori Greiner |
| Investment Asked | $500,000 for 5% equity |
| Deal Outcome | $250,000 for 20% equity + $250,000 as a loan for 6% interest. Stake increases to 30% at $10 million in sales and again to 40% at $50 million in sales |
Doug founded Halo Top, a low-calorie cream alternative that outsold Ben and Jerry’s in 2017 and 2018. Blue Bunny Ice Cream’s parent company acquired that business in 2019 for an undisclosed amount.
Gatsby Chocolates have half the calories of other chocolate bars and peanut butter cups. Their secret is the “chocolate” is entirely plant based. A serving of a Gatsby bar has 65 calories, whereas “regular” chocolate bars have 150 calories or more.
Gatsby is available at Walmart stores nationwide and on Amazon. They cost around five bucks a bar, but you can try a bar for free. With a successful acquisition under their belts, the Bouton brothers likely have a fair amount of cash on hand. Why they need a Shark is a mystery.
Gatsby Chocolate Shark Tank Recap
Ryan and Doug enter the Shark Tank and explain that people love chocolate, but it’s loaded with sugar, calories, and fat. They created a chocolate bar with half the calories and 75% less sugar than most of the other chocolate bars out there.
Their products have health in mind but zero compromise on taste. They call it the “Halo Top of chocolates”” and Doug tells the Shark he’s the co-founder of Halo Top. The guys want to do the same thing with Gatsby that they did for Halo Top[. They’re seeking $500,000 for 5% of their business. Daymond immediately says, “I’m out!”
The Sharks try their samples, and Doug says the Peanut Butter Madness is their best seller. The Sharks like their samples and Doug tells the Sharks they use allulose as their sugar substitute. The bars are sold in Albertsons, Walmart, Safeway, and Sprouts. They’re in over 6000 stores. Sales last year (2022) were $2.5 million, and most of the sales were in the 4th quarter.
A bar retails for $3.99, wholesales for $2.70, and it costs $1.90 a bar to make. They are working towards getting to a 50% margin. Candace wants to know why they need a Shark. Doug says they need help because they have national distribution without national awareness. The Sharks don’t like the name.
They have no free cash flow and project 2023 sales to be around $2 million. They lost $3.5 million in 2022. Kevin questions their $10 million valuation. Daymond thinks the valuation is fine but says he can’t bring value to the table; he’s out. Candace asks what made him want to start another company, and Doug says, “Stupidity.”
Did Gatsby Chocolate Get a Deal on Shark Tank?
Lori offers $250,000 for 20% equity and a $250,000 loan at 6%. Kevin offers $500,000 as venture debt for 12%. Candace thinks the calories will trigger a “toxic diet culture,” but she’s out. Mark asks if they’re open to 20%, and Doug says he wants someone to be the face of the brand.
Lori says she’ll go to 25% for that type of deal. When Doug starts asking Mark if he’ll help find the face of the brand, Lori reverts to her original offer. Mark calls Lori over, and they talk.
Together, they offer $500,000, $250,000 in debt, and $250,000 in equity for 20%, and when they hit $10 million in sales, they get another 10%. At $20 million, they get an additional 5%. Doug says the second trigger to up the percentage of equity should be at $50 million and the Sharks agree.
Gatsby Chocolate Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. In February 2024, Gatsby partnered with the Cavinder twins, women’s college basketball sensations and social media influencers.
As of May 2024, the deal with Mark and Lori has not closed. The bars are now available nationwide in Walmart and Sprouts Markets. In June 2024, Yahoo revealed that Gatsby was the most sought-after product from season 15. The estimated net worth of Gatsby Chocolate is between $3.5 million and $5 million as of 2025.
The Shark Tank Blog will follow up on Gatsby Chocolate & Ryan and Doug Bouton as more details become available.
Posts about Gatsby Chocolate on Shark Tank Blog
Where Can You Buy It?
Gatsby Chocolates are available for purchase on their official website, Amazon, Walmart, and other retail stores. Check out their social media pages for more updates: Facebook and Instagram.
Quick Summary
- Gatsby Chocolate was founded by Doug and Ryan Bouton, offering low-calorie, plant-based chocolate bars and peanut butter cups with less sugar than traditional options.
- They secured a deal with Mark Cuban and Lori Greiner.
- As of 2024, Gatsby is available in over 6,000 stores, including Walmart and Sprouts, and is valued at an estimated $3.5 to $5 million in 2025.
Curious to know about other businesses that appeared in the same episode? Check out their business updates!
