Shark Tank Update
Shark Tank Pitch
Wicked Good Cupcakes Shark Tank Update
Published:
4m
Cohasset, Massachusetts
| Name | Wicked Good Cupcakes |
|---|---|
| Main Presenters | Danielle Desroches and Tracey Noonan |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 10/27/2022 |
| Main Location | Cohasset, Massachusetts Loading Map |
| Order Shown in Episode | 2 |
| Final Deal | Deal was made on the show with sharks Kevin O'Leary for $75k for 0% of company with $1 royalty until $75k recouped then drops to 45 cents. |
Wicked Good Cupcakes Shark Tank Pitch
Danielle Desroches and Tracey Noonan are a mother-daughter duo from Massachusetts who took a cake decorating course one weekend as a bonding experience. In 2011, Danielle and Tracey's new passion grew into a cupcake business, Wicked Good Cupcakes, inspired by the common Massachusetts phrase "wicked good." The raving reviews led them to further evolve into selling cupcakes in jars that they could easily ship nationwide.
Wicked Good Cupcakes has a retail store and sells online. Sales this year are expected to be $360k. Danielle and Tracey hope to buy in larger quantities to reduce their costs.
The sharks love the jars of cupcakes both aesthetically and tastefully. Mark is lactose intolerant and eats a couple of jars and wants some of Daymond's. Kevin has a geographic connection with Wicked Good Cupcakes because he also lives in Boston.
Robert isn't a big dessert guy, Daymond is a big dessert guy but predicts he'll get fat, Lori finds the 7-10 day shelf life too short, and Mark thinks cupcakes is a competitive space so they all go out. Kevin is the only shark to make an offer and it's a royalty deal that leaves Wicked Good Cupcakes with a small profit margin, but Tracey accepts.
It would've been interesting to see how this played out if Barbara were present because she has done several similar businesses such as Daisy Cakes /seasons/2/episodes/6/daisy-cakes.Link Preview
Daisy Cakes
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $75k for 20% of company | |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Lori Greiner | Out |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Offered | Kevin O'Leary | $75k for 0% of company with $1 royalty until $75k recouped then drops to 50 cents |
| Company | Offered | Kevin O'Leary | $75k for 0% of company with $1 royalty until $75k recouped then drops to 40 cents |
| Sharks | Deal | Kevin O'Leary | $75k for 0% of company with $1 royalty until $75k recouped then drops to 45 cents |
Mark Cuban
Out
Daymond John
Out
Kevin O'Leary
Made Deal
Lori Greiner
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| 5 | 1 |
| 5 | 29 |
Wicked Good Cupcakes After Shark Tank
In season 5, episode 1, Danielle and Tracey gave an update that they had added a location in a historic food court in Boston, Faneuil Hall, got a new bakery to produce Wicked Good Cupcakes, and hired 40 new employees. They had done $150k in sales before Shark Tank and $230k in sales in the first week after airing on Shark Tank. They expected to do $2 million in revenue for the year. Kevin said in the update that he had been fully paid back his $75k investment.
Shark Tank Blog did an interview https://www.sharktankblog.com/wicked-good-cupcakes-update with Danielle Desroches and Tracey Noonan from Wicked Good Cupcakes after airing on Shark Tank. In 2013 they opened two new locations: one in a mall in Braintree, Massachusets as well as one in downtown Bostons' Faneuil Hall.Link Preview
interview
In season 5, episode 28, Kevin mentions during the Cinnaholic /seasons/5/episodes/28/cinnaholic pitch that Wicked Good Cupcakes went from doing $15k to $300k weekly in sales when they focused on online sales. In season 5, episode 29 (the season finally), Wicked Good Cupcakes was briefly mentioned in the montage of season updates.Link Preview
Cinnaholic
In season 7, episode 3, Tracey gives an update that they have done $5.5 million in lifetime sales. In season 8 they got another update.
In 2016 Wicked Good Cupcakes was featured in season 1, episode 11 of Beyond The Tank. We have heard Kevin make far too many royalty offers, but apparently, this was the first deal with a royalty on Shark Tank. Wicked Good Cupcakes paid Kevin $75k six weeks after airing, leaving the royalty at 45 cents. They projected sales of $3.5 million in 2016. Tracy had ideas of selling a powder cake mix, which got shut down by Kevin, but her idea of cookies in a jar had the greenlight to try.
In 2021 Wicked Good Cupcakes was aquired by Hickory Farms https://www.hickoryfarms.com, a popular food gift marketplace. According to a season 13, episode 15, at the time of the acquisition they had done over $40 million in lifetime sales and paid Kevin over $1 million with a multi-million dollar buyout (but Kevin took no equity as he likes to say as if his royalty doesn't cost the company during an acquisition).Link Preview
Hickory Farms
In 2022 Wicked Good Cupcakes can be bought on their website, wickedgoodcupcakes.com https://www.wickedgoodcupcakes.com https://www.facebook.com/WickedGoodCupcakes and they actively post on Facebook Link Preview
wickedgoodcupcakes.com . Danielle Desroches is now Danielle Vilagie.Link Preview
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