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Kodiak Cakes

Kodiak Cakes
Product typePancake mix, breakfast foods
CountryUnited States
Introduced1982; 43 years ago (1982)
Websitekodiakcakes.com

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][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

  1. ^ "Kodiak Cakes | Nourishment For Today's Frontier™". Kodiak Cakes, LLC. Retrieved 2019-07-25.
  2. ^ 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.
  3. ^ "Kodiak Cakes, LLC: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2018-05-20.
  4. ^ "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.
  5. ^ "Protein-Packed Waffles and Pancakes are the Perfect Way to Start the Day". The Manual. 2018-04-05. Retrieved 2018-05-21.
  6. ^ "Shark Tank: The 15 Worst Pitches The Sharks Passed On (And The 10 Best)". ScreenRant. 2019-04-22. Retrieved 2019-05-27.
  7. ^ Atamian, James (2019-07-01). "Why Kodiak Cakes Rejected the Sharks -- and Was Better for It". Inc.com. Retrieved 2020-03-26.
  8. ^ "Kodiak Cakes, our 2020 'Bakery of the Year,' is redefining bakery categories across the board". www.snackandbakery.com. Retrieved 2021-12-05.
  9. ^ Release, Press (2021-05-26). "L Catterton acquires Kodiak Cakes". Utah Business. Retrieved 2021-05-28.
  10. ^ 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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