Gatsby Chocolate: Here's What Happened After Shark Tank

From savory snacks like Just the Cheese to My Fruity Faces, a line of edible stickers intended to entice children to eat more fruits and veggies, there's no shortage of innovative food-based concepts pitched on "Shark Tank." In 2023, brothers Ryan and Doug Bouton brought another one to the show: Gatsby Chocolate. Already stocked on shelves at Walmart, Albertsons, and Sprouts, the bars were marketed as containing "up to 75% less sugar" than other similar treats (via YouTube).

The large chocolate bars were emblazoned with their calorie count on the front of the packaging, and were available in a variety of flavors, including Fudge Brownie, Peanut Butter Madness, and more. As Ryan began his pitch to the Sharks (Mark Cuban, Lori Greiner, Daymond John, Kevin O'Leary, and Guest Shark Candace Nelson), he called the product "the Halo Top of chocolate," a moniker he felt comfortable laying claim to because Doug is a co-founder of the popular low-calorie ice cream.

After Doug Bouton presented a pitch asking for $500,000 in exchange for a 5% stake in the company, the potential investors sampled the chocolates. Then, they began diving into questions that ranged from the type of sweetener used (allulose) to sales (a little over $2.5 million in the previous year).

Candace Nelson and Lori Greiner both expressed concerns about branding, with Nelson noting that she didn't think the name was a fit, despite Doug explaining that it was intended to be a nod toward "decadence [and] indulgence" (via YouTube). Meanwhile, Greiner agreed with Nelson but also mentioned that the packaging wasn't on point in terms of communicating to potential buyers what it was, given the prominence of the calorie count as opposed to the brand name, and the use of a martini glass in the "Y" in the logo.

However, Greiner ultimately made an offer that included helping to rebrand the chocolate: She would give $250,000 as equity and $250,000 in the form of a short-term loan at 6%, all for a 20% stake in the company. Kevin O'Leary countered with $500,000 as venture debt for 12%. However, after Greiner and Mark Cuban had a quiet side conversation, they teamed up for a joint offer that was accepted after a bit of negotiation: they'd give $500,000, with half as a loan and half as equity for a 20% stake, another 10% when Gatsby hit the first $10 million in sales, and another final 10% when the company reached $50 million.

There's little information to indicate what happened directly after "Shark Tank" for Gatsby Chocolate. However, in October 2023, just weeks after the brothers' appearance on the show, the company posted on Instagram, "Almost 100% of Walmarts are back in stock with at least one GATSBY Chocolate flavor," indicating that it may have benefited from the so-called "Shark Tank" effect. This seems particularly likely since Doug Bouton had mentioned during the show that the primary issue the brand was facing was "national awareness" (via YouTube).

After that, Gatsby Chocolate began to announce new flavors on its Facebook page. In January of 2024, Dulce de Leche was released, and the following month the company launched Chocolate Crème Pie. Also in February, Gatsby Chocolate announced a partnership with social media influencers, the Cavinder twins. In addition, the business's Facebook page teased special editions periodically and a number of promotions.

While there does not appear to be an official announcement regarding Gatsby Chocolate's closure, it does seem that the company is no longer in business. As of December 2025, the last post to its Facebook page was in August 2024, and its website is defunct. Additionally, a Reddit thread started in 2024 indicates that buyers were increasingly struggling to find the product in stores, with many stating it was completely unavailable in their regions by 2025. "It's been missing for a long time, I'm so sad," one user wrote.

With no official word from Gatsby Chocolate, it's difficult to say with total certainty what happened. However, one likely challenge Gatsby faced was the inability to access a key ingredient, EPG. Produced by a company called Epogee, EPG is a fat substitute that can provide texture with significantly fewer calories. It was previously used by many companies until Linus Technology (owner of David Protein Bars) acquired Epogee in the spring of 2025 and severely limited competitor access to the fat replacer. Shortly thereafter, several food businesses affected by the restricted ability to use EPG — including Defiant Foods and OWN Your Hunger — filed an antitrust lawsuit against Linus Technology and Epogee that, as of late 2025, remains open in the court system. As the conflict remains unresolved, companies who rely on EPG for their lightened-up products are unable to continue production or product development using the ingredient.

Ryan Bouton's LinkedIn states he ended his time with Gatsby Chocolate in February 2025. According to the same page, in May 2025, he took on the role of Head of Growth at Pawco Foods, a purveyor of high-quality dog food.

Meanwhile, Doug Bouton's LinkedIn still lists him as the Founder & CEO of Gatsby Chocolate, which may give hope to Gatsby Chocolate enthusiasts that perhaps one day the brand will make a comeback. After all, in an interview with his alma mater, University of Virginia, about his businesses and entrepreneurship, he said that what "started as maniacal independence ... has grown into the joy of creating and building. I love the innovation piece and constantly thinking about how to get and stay outside the box" (via UVA Today). Doug's LinkedIn also indicates that he's continuing in his role as CEO at Halo Top, even though he sold the company in 2019 (we wonder if he ever wears the brand's ice cream-cooling crossbody bag?).