Kodiak Cakes Explained

Kodiak Cakes
Producttype:Pancake mix, breakfast foods
Country:United States

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

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] [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 the 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]

Notes and References

  1. Web site: Kodiak Cakes Nourishment For Today's Frontier™. Kodiak Cakes, LLC. en. 2019-07-25.
  2. News: This Entrepreneur Almost Quit Multiple Times, But After Appearing on 'Shark Tank' He Now Has a $100 Million Business. Bronner. Stephen J.. 2018-05-07. Entrepreneur. 2018-05-20. en.
  3. Web site: Kodiak Cakes, LLC: Private Company Information - Bloomberg. www.bloomberg.com. 2018-05-20.
  4. News: This Startup Didn't Get a Deal on 'Shark Tank,' and That Helped Save It From Bankruptcy. 2018-04-03. Inc.com. 2018-05-20.
  5. News: Protein-Packed Waffles and Pancakes are the Perfect Way to Start the Day. 2018-04-05. The Manual. 2018-05-21. en-US.
  6. Web site: Shark Tank: The 15 Worst Pitches The Sharks Passed On (And The 10 Best). 2019-04-22. ScreenRant. en-US. 2019-05-27.
  7. Web site: Why Kodiak Cakes Rejected the Sharks -- and Was Better for It. Atamian. James. 2019-07-01. Inc.com. 2020-03-26.
  8. Web site: Kodiak Cakes, our 2020 'Bakery of the Year,' is redefining bakery categories across the board. 2021-12-05. www.snackandbakery.com. en.
  9. Web site: Release. Press. 2021-05-26. L Catterton acquires Kodiak Cakes. 2021-05-28. Utah Business. en-US.
  10. Web site: Rugunya . Daniel . 2024-05-01 . Kodiak Cakes – $100 Million in Lifetime Sales After Shark Tank . 2024-05-01 . TechieGamers.com.