Kodiak Cakes, founded by Joel Clark, gained popularity with its whole grain, protein-packed pancake and waffle mixes. After appearing on Shark Tank in 2014, the company didn’t secure a deal but experienced significant growth.
As of 2024, Kodiak Cakes is valued at approximately $300 million. In 2021, private equity firm L Catterton acquired a majority stake, fueling further expansion. Kodiak Cakes has since introduced various new products, including frozen waffles and oatmeal.
The brand continues to thrive, with products sold in major retailers nationwide, and has become a leading name in the healthy, high-protein food market.
Kodiak Cakes Net Worth
| Estimated Net worth | $300 million (2024) |
| Annual Sales Revenue | $200 million |
| Lifetime sales | $100 million |
| Investor | None |
| Founders | Cameron Smith and Joel Clark |
| Employees | 50 employees |
Kodiak Cakes Pitch on Shark Tank
| Company name | Kodiak Cakes |
| Product | High-protein, whole-grain pancake, flapjack and waffle mix |
| Episode | Season 05 Episode 22 |
| Founders | Cameron Smith and Joel Clark |
| Asked for | $500,000 in exchange for 10% equity |
| Final deal | None |
| Shark | None |
| Location | Park City, Utah |
Don’t miss these products from Season 05
Kodiak Cakes Founders
Kodiak Cakes was founded by Cameron Smith and Joel Clark in 1982. Cameron Smith and Joel Clark are friends, and Joel Clark founded this company in 1997 while attending the University of Utah. In 2009, Simth joined this company, and according to their LinkedIn profile, both stepped down from CEO and President positions in the company and handed over this brand to Valerie Oswalt, Kodiak’s present CEO. Kodiak Cakes’s founders, Cameron Smith and Joel Clark, have a net worth of 160 million USD as of 2024.
Key accomplishments
| Year | Accomplishment |
| 2016 | In 2016, their sales reached $16 million. |
| 2020 | In 2020, they became a company worth $200 million, with their products in more than 26,000 stores. |
| 2022 | L Catterton, a private equity firm purchased the Kodiak cakes. |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Kodiak Cakes and its continued success.
