Gatsby Chocolate: The Outcome Following Shark Tank

Innovative food concepts often make their way onto "Shark Tank," from savory options like Just the Cheese to playful products such as My Fruity Faces, edible stickers designed to encourage kids to eat more fruits and vegetables. In 2023, brothers Ryan and Doug Bouton introduced Gatsby Chocolate to the Sharks. Already available at retailers like Walmart, Albertsons, and Sprouts, these chocolate bars claimed to contain up to 75% less sugar than comparable treats. The bars were sold in several flavors, including Fudge Brownie and Peanut Butter Madness, and displayed calorie counts prominently on their packaging.

During the pitch to Mark Cuban, Lori Greiner, Daymond John, Kevin OLeary, and guest Shark Candace Nelson, Ryan described Gatsby Chocolate as the Halo Top of chocolate, referencing Doug's co-founding role at the low-calorie ice cream brand.

Shark Tank Investment Talks

Doug requested $500,000 for a 5% equity stake. The Sharks sampled the chocolates and questioned the products sweetener (allulose) and prior sales, which had exceeded $2.5 million. Both Candace Nelson and Lori Greiner expressed concerns about branding. Nelson felt the name didnt fit the products image, despite Doug explaining it symbolized indulgence. Greiner agreed and critiqued the packaging, noting that calorie counts overshadowed the brand name and the logos martini glass Y could confuse buyers.

Greiner proposed $250,000 in equity and $250,000 as a short-term loan at 6% for a 20% stake, including assistance with rebranding. OLeary offered $500,000 as venture debt for 12%. Eventually, Greiner and Cuban collaborated on a joint deal: $500,000, split evenly between loan and equity for a 20% stake, with an additional 10% at $10 million in sales and a final 10% at $50 million.

Post-Shark Tank Developments

Information about Gatsby Chocolate immediately after the show is limited, but by October 2023, the company announced that nearly all Walmarts were restocked with at least one flavor, suggesting a positive "Shark Tank effect." The brand later introduced new flavors, including Dulce de Leche in January 2024 and Chocolate Crme Pie in February. Around the same time, Gatsby Chocolate partnered with influencers, the Cavinder twins, and teased special editions and promotions on social media.

Company Status

As of December 2025, Gatsby Chocolate appears to be out of business. The last Facebook post was in August 2024, the website is inactive, and Reddit users reported difficulty finding products in stores by 2025. A potential factor was limited access to EPG, a fat substitute essential for the chocolates reduced-calorie formula. Following Linus Technologys acquisition of Epogee in 2025, competitors faced restrictions, prompting antitrust lawsuits from affected food brands. Production of EPG-reliant products remains disrupted.

Founders Next Moves

Ryan Bouton left Gatsby Chocolate in February 2025 and became Head of Growth at Pawco Foods, a premium dog food company, in May 2025. Doug Bouton continues to list himself as Founder & CEO of Gatsby Chocolate and remains involved with Halo Top, despite selling the company in 2019. Doug has emphasized his passion for innovation and building unique products, suggesting that a Gatsby Chocolate revival could still be possible in the future.

Sources:

• Gatsby Chocolate: Here's What Happened After Shark Tank