Kodiak Cakes: Difference between revisions
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{{short description|Brand of pancake and waffle mix}} |
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{{Infobox brand |
{{Infobox brand |
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| name = Kodiak Cakes |
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| country = United States<!-- or: origin --> |
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| introduced = {{start date and age|1982}} |
| introduced = {{start date and age|1982}} |
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'''Kodiak Cakes''' is a |
'''Kodiak Cakes''' is a brand of whole-grain [[pancake]] and [[Waffle|waffle mix]]es. The brand, which began as a small family operation, is based in [[Park City, Utah]] and ultimately 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.<ref>{{Cite web|url=https://shop.kodiakcakes.com/|title=Kodiak Cakes {{!}} Nourishment For Today's Frontier™|website=Kodiak Cakes, LLC|language=en|access-date=2019-07-25}}</ref> |
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== History == |
== History == |
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Kodiak Cakes was founded in 1982 as a family brand. In the 1990s the two brothers from the same family [[Corporation|incorporated]] their family's business, but met with limited financial success.<ref name="Bronner 2018">{{Cite news|url=https://www.entrepreneur.com/article/312400|title=This Entrepreneur Almost Quit Multiple Times, But After Appearing on 'Shark Tank' He Now Has a $100 Million Business|last=Bronner|first=Stephen J.|date=2018-05-07|work=Entrepreneur|access-date=2018-05-20|language=en}}</ref><ref>{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=377351148|title=Kodiak Cakes, LLC: Private Company Information - Bloomberg|website=www.bloomberg.com|access-date=2018-05-20}}</ref> In 2014 the brand was featured on an episode of the American television show ''[[Shark Tank]]'', though the company declined to make a deal with the show's hosts. The company's sales subsequently increased, leading to the brand being cited as an example of a company that benefited from not reaching an agreement with the popular show.<ref>{{Cite news|url=https://www.inc.com/emily-canal/kodiak-cakes-shark-tank.html|title=This Startup Didn't Get a Deal on 'Shark Tank,' and That Helped Save It From Bankruptcy|date=2018-04-03|work=Inc.com|access-date=2018-05-20}}</ref><ref name="Bronner 2018" /><ref>{{Cite news|url=https://www.themanual.com/food-and-drink/kodiak-cakes-protein-pancake-waffle-mix/|title=Protein-Packed Waffles and Pancakes are the Perfect Way to Start the Day|date=2018-04-05|work=The Manual|access-date=2018-05-21|language=en-US}}</ref><ref>{{Cite web|url=https://screenrant.com/shark-tank-best-worst-pitches-passed-on/|title=Shark Tank: The 15 Worst Pitches The Sharks Passed On (And The 10 Best)|date=2019-04-22|website=ScreenRant|language=en-US|access-date=2019-05-27}}</ref><ref>{{Cite web|url=https://www.inc.com/video/why-kodiak-cakes-rejected-the-sharks-and-were-better-for-it.html|title=Why Kodiak Cakes Rejected the Sharks -- and Was Better for It|last=Atamian|first=James|date=2019-07-01|website=Inc.com|access-date=2020-03-26}}</ref> |
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The idea for Kodiak Cakes began in 1982, when Penny Clark made her family's heirloom pancake mix and divvied it up into paper bags for her son, Joel Clark, to distribute around their Utah neighborhood.<ref>{{Cite news|title=Kodiak Cakes: Joel Clark : How I Built This with Guy Raz|language=en|work=NPR.org|url=https://www.npr.org/2020/12/04/943044673/kodiak-cakes-joel-clark|access-date=2021-10-17}}</ref> The mix proved popular as a 100% whole grain, protein-packed alternative to regular pancake mix, and in 1995, the Clark brothers [[mwod:incorporate|incorporated]] their family's business.<ref name=":0">{{Cite web|title=Kodiak Cakes, our 2020 ‘Bakery of the Year,’ is redefining bakery categories across the board|url=https://www.snackandbakery.com/articles/94350-kodiak-cakes-our-2020-bakery-of-the-year-is-redefining-bakery-categories-across-the-board|access-date=2021-10-17|website=www.snackandbakery.com|language=en}}</ref> However, although the mix was well-received, the company was met with limited financial and commercial success. In 2000, Kodiak received its first investment when Joel's neighbor gave him a check for $13,000, which Joel has credited as an initial driving force in keeping the company going.<ref>{{Cite web|last=Berger|first=Sarah|date=2018-08-08|title=This family business was a 'Shark Tank' reject — now it's bringing in $100 million a year with the best-selling pancake mix at Target|url=https://www.cnbc.com/2018/08/08/how-kodiak-cakes-pancake-mix-became-a-bestseller-at-target.html|access-date=2021-10-17|website=CNBC|language=en}}</ref> Then, in 2009, Joel hired Cameron Smith as his COO, and in 2014, they appeared on an episode of the American television show [[Shark Tank]]. Although they declined to make a deal with the show's hosts, the appearance spiked the brand's sales at Target<ref>{{Cite web|last=Bronner|first=Stephen J.|title=This Entrepreneur Almost Quit Multiple Times, But After Appearing on 'Shark Tank' He Now Has a $100 Million Business|url=https://www.entrepreneur.com/article/312400|access-date=2021-10-17|website=Entrepreneur|language=en}}</ref>, leading to the brand being cited as an example of a company that benefited from not reaching an agreement with the popular show. Today, Joel Clark still functions as the CEO of Kodiak Cakes, while Cameron Smith is still the company's COO. |
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| ⚫ | After appearing on Shark Tank in 2014, Kodiak Cakes' sales rose from $3.6 million in 2013 to $6.7 million in 2014. Additional revenue allowed the company to focus on product innovation and expanding its consumer base, leading to the development of a frozen line of pancakes and waffles, as well as graham bites, oatmeal, and granola bars.<ref>{{Cite web|title=Kodiak Cakes, our 2020 'Bakery of the Year,' is redefining bakery categories across the board|url=https://www.snackandbakery.com/articles/94350-kodiak-cakes-our-2020-bakery-of-the-year-is-redefining-bakery-categories-across-the-board|access-date=2021-12-05|website=www.snackandbakery.com|language=en}}</ref> [[L Catterton]], a private equity firm, acquired a majority stake in Kodiak Cakes in May 2021.<ref>{{Cite web|last=Release|first=Press|date=2021-05-26|title=L Catterton acquires Kodiak Cakes|url=https://www.utahbusiness.com/l-catterton-acquires-kodiak-cakes/|access-date=2021-05-28|website=Utah Business|language=en-US}}</ref> |
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In May 2021, [[L Catterton|L Catterton,]] a private equity firm, acquired a majority stake in Kodiak Cakes. |
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Company founder, Joel Clark, and Kodiak Cakes were featured on the podcast [[How I Built This]] with [[Guy Raz]] in 2020. |
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== Growth == |
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| ⚫ | After appearing on Shark Tank in 2014, Kodiak Cakes' sales rose from $3.6 million in 2013 to $6.7 million in 2014 |
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By 2024, actor and lifestyle guru Zac Efron became a Brand Ambassador for the company.<ref>{{Cite web |last=Rugunya |first=Daniel |date=2024-05-01 |title=Kodiak Cakes – $100 Million in Lifetime Sales After Shark Tank |url=https://techiegamers.com/kodiak-cakes-net-worth/ |access-date=2024-05-01 |website=TechieGamers.com}}</ref> |
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== References == |
== References == |
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Latest revision as of 21:06, 22 December 2024
| Product type | Pancake mix, breakfast foods |
|---|---|
| Country | United States |
| Introduced | 1982 |
| Website | kodiakcakes |
Kodiak Cakes is a brand of whole-grain pancake and waffle mixes. The brand, which began as a small family operation, is based in Park City, Utah and ultimately 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.[1]
History
[edit]Kodiak Cakes was founded in 1982 as a family brand. In the 1990s the two brothers from the same family incorporated their family's business, but met with limited financial success.[2][3] In 2014 the brand was featured on an episode of the American television show Shark Tank, though the company declined to make a deal with the show's hosts. The company's sales subsequently increased, leading to the brand being cited as an example of a company that benefited from not reaching an agreement with the popular show.[4][2][5][6][7]
After appearing on Shark Tank in 2014, Kodiak Cakes' sales rose from $3.6 million in 2013 to $6.7 million in 2014. Additional revenue allowed the company to focus on product innovation and expanding its consumer base, leading to the development of a frozen line of pancakes and waffles, as well as graham bites, oatmeal, and granola bars.[8] L Catterton, a private equity firm, acquired a majority stake in Kodiak Cakes in May 2021.[9]
Company founder, Joel Clark, and Kodiak Cakes were featured on the podcast How I Built This with Guy Raz in 2020.
By 2024, actor and lifestyle guru Zac Efron became a Brand Ambassador for the company.[10]
References
[edit]- ^ "Kodiak Cakes | Nourishment For Today's Frontier™". Kodiak Cakes, LLC. Retrieved 2019-07-25.
- ^ a b Bronner, Stephen J. (2018-05-07). "This Entrepreneur Almost Quit Multiple Times, But After Appearing on 'Shark Tank' He Now Has a $100 Million Business". Entrepreneur. Retrieved 2018-05-20.
- ^ "Kodiak Cakes, LLC: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2018-05-20.
- ^ "This Startup Didn't Get a Deal on 'Shark Tank,' and That Helped Save It From Bankruptcy". Inc.com. 2018-04-03. Retrieved 2018-05-20.
- ^ "Protein-Packed Waffles and Pancakes are the Perfect Way to Start the Day". The Manual. 2018-04-05. Retrieved 2018-05-21.
- ^ "Shark Tank: The 15 Worst Pitches The Sharks Passed On (And The 10 Best)". ScreenRant. 2019-04-22. Retrieved 2019-05-27.
- ^ Atamian, James (2019-07-01). "Why Kodiak Cakes Rejected the Sharks -- and Was Better for It". Inc.com. Retrieved 2020-03-26.
- ^ "Kodiak Cakes, our 2020 'Bakery of the Year,' is redefining bakery categories across the board". www.snackandbakery.com. Retrieved 2021-12-05.
- ^ Release, Press (2021-05-26). "L Catterton acquires Kodiak Cakes". Utah Business. Retrieved 2021-05-28.
- ^ Rugunya, Daniel (2024-05-01). "Kodiak Cakes – $100 Million in Lifetime Sales After Shark Tank". TechieGamers.com. Retrieved 2024-05-01.
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