Kodiak Cakes Net Worth – How Much is Kodiak Cakes Worth?
Joel Clark began selling family pancake recipes made from his red wagon at ski resorts in Utah and Idaho back in 1982 – initially through brown paper bags – from Park City. Utah to Sun Valley in Idaho. Since then Kodiak Cakes has evolved into an established $200 million business selling healthy products including added-protein pancake and waffle mixes, oatmeal, granola bars, as well as oatmeal cereal bars. Recently L Catterton acquired it for an undisclosed sum.
The company took an important step when they decided to expand their product national by moving away from selling in small gift shops and instead partnering with large grocery chains like QFC Grocery Stores. Through this partnership, they experienced explosive growth at an incredible speed allowing their products to reach more stores and homes across America.
Though it may seem counter-intuitive, the founders turned down offers from sharks because they believed the sharks undervalued their business. After conducting thorough due diligence on each offer presented to them by each shark, they concluded that taking any offered would require giving up some equity of their company; and were confident they could do better themselves than what had been presented them – something which proved true over time.
Since their refusal of a deal from the sharks, Kodiak Cakes have experienced massive success – something not unusual for companies that turn down lucrative offers on popular shows like Shark Tank. Their sales even saw an unexpected jump after their appearance which only served to further strengthen their resolve to bring healthier products into stores.
At this juncture, they realized they needed to add something different and innovative to their product offerings, leading them to incorporate protein powder as part of the mix which proved popular with customers and boosted sales. Furthermore, the company uses ingredients considered “real food”, including premium-quality wheat flour, whole grains and pea protein in their products.
Park City, Utah-based company boasting an incredible work culture which has left their employees exceptionally content in their employment. Winning several awards and recognition for both its phenomenal work culture as well as product quality is testament to this fact. After 16 years since first establishing their company, they have worked incredibly hard to build an esteemed food brand in America. Thanks to this hard work and devotion, they now stand as one of the premier food brands across all regions of the United States. Their authentic products are loved by consumers around the globe, giving the company a promising future ahead. If they continue their success over time, perhaps one day their founders can reach their dream goal of becoming a billion-dollar company!