Although pancakes are a popular breakfast and brunch item, we frequently find them to be unpleasant once the initial spike in sugar subsides. With healthy grains and extra protein, Kodiak Cakes aims to provide a substitute that might keep you satiated for longer.
Walk through this article to know more about this healthy breakfast product.
Quick Facts
| Founders name: | Cameron Smith Joel Clark |
| Business details: | Healthier pancake mix |
| Founded in: | 1982 |
| Location : | Salt Lake City, USA |
| Asking of Company: | $500,000 for 10% equity |
| Accepted Deals: | No Deal |
| Shark on board (Investors): | None |
| Shark Tank Episode: | Season 05 Episode 22 |
| Net Worth | $160 million |
| Business Status: | Active |
| Last Updated: | Feb 23, 2024 |
| Social Media | Instagram |
About the Founder
Joel Clark had a family who educated him to prioritize health in Utah’s Salt Lake City. Only organic foods and freshly baked goods were cooked by his mother Penny, for him as well as his four elder siblings. Processed food was absent in their house.
It’s reasonable to infer that Cameron Smith had a unique upbringing. Although belongs to Park City, little information exists about his lineage. After graduation, Cameron and Joel initially connected.
When Joel Clark turned eight years old, he started marketing his mother’s recipe for pancake components. They were gone in a flash! Subsequently, Joel and Cameron Smith teamed up to take over his mother’s company and assisted the startup in achieving a total income of $3.5 million in 2013.
Founding the Kodiak Cakes
The two Clark brothers founded the company inspired by their mother’s prized recipe under the name of Kodiak Cakes. It is a whole-grain, instant pancake mixture that upended the pancake market. After introducing the product in the market, the business experienced increased success. That is their pancake mix with more protein.
It became popular amongst youngsters and fitness fanatics. The product was first launched in 1982, later in 1994, Joel’s Brother Jon, created a business of healthy yet delicious products. This was a concoction of Joel and Jon Clark’s mother who had created and distributed across her local area.
Shark Tank Appearance
Cameron proposed a plan to go on Shark Tank. Two friends made an appearance in April 2014, Season 5 of the show. There, for a 10% stake, they requested the investors for $500,000 in exchange.
Kevin O’Leary made an offer of $500,000 in exchange for 50%. However, Kevin was pleased to work with Barbara as she promised to split the contract and offer fifty percent of the money for 20%. A stronger offer from Robert Herjavec of $500,000 for 35% was made, but the capital was still exorbitant.
Numerous proposals from the Sharks fell short of what the partners roughly calculated as the company’s pride. Joel was unwilling to give up more than 10% of his stake. They graciously declined the offers since they didn’t want to undervalue the business or sell their firm short.
After Shark Tank
The company, Kodiak Cakes made $54 million over the following four years despite not receiving a Shark’s support. The retailer’s Target, Amazon, Walmart, Amazon and the website KodiakCakes.com carry all of their merchandise. Over 10,000 Amazon reviews, with an overall rating of 4.8 stars, were written on the initial pancake mix.
As the Chief Brand Officer, the management group recruited Zac Efron. Kodiak Cakes presently generates $200 million in profit annually and is projected to be valued at $160 million as of 2024.