Wicked Good Cupcakes Shark Tank Update

Wicked Good Cupcakes Shark Tank Update in 2023

Danielle Vilagie, along with Tracey Noonan (the daughter-mother duo from Massachusetts), launched their business Wicked Good Cupcakes in 2011. They soon caught the attention of the investors from Shark Tank. But what’s the Wicked Good Cupcakes Shark Tank update now? 

After Shark Tank, they were bought by Hickory Farms, a food gift retailer, in June 2021. They are still operating under the same brand name and selling their cupcakes in a jar online and in stores. Kevin O’Leary still gets a royalty from them, and they are fully profitable now.

Need to find out more about Wicked Good Cupcakes? Head down below. 

Wicked Good Cupcakes Shark Tank Profile

Before the Wicked Good Cupcakes Shark Tank update, take a look at their base stats below. 

Business TitleWicked Good Cupcakes
OriginatorDanielle Vilagie and Tracey Noonan
Established in2011
Produced GoodsGourmet cupcakes in a jar
Investment Asked for in Shark Tank75,000 USD in exchange for 20% ownership
Closed the Deal at75,000 USD for a 1 USD royalty per cupcake until the investment is recouped, then 0.45 USD per cupcake in perpetuity
Shark that Agreed with the DealKevin O’Leary
Wicked Good Cupcakes Shark Tank Episode4th Season, 22nd Episode
Air DateApril 26, 2013
Company Situation Now in 2023Purchased over by Hickory Farms in 2021, still operating under the same brand name
Website URLwww.wickedgoodcupcakes.com
Wicked Good Cupcakes Today Located inHanover, Massachusetts
Lifetime Value (in Terms of Sales)Around $126.8 million as of 2023 (approx.)
Watch the Whole Episode onAmazon Prime

How Was Wicked Good Cupcakes on Shark Tank?

Wicked Good Cupcakes is a business that started out by selling gourmet cupcakes in a jar. They entered Shark Tank in 2013 and asked for 75,000 USD for exactly 20% ownership of their business. 

How Was Wicked Good Cupcakes on Shark Tank

They impressed the sharks with their product quality, packaging, and sales. As such, Kevin O’Leary offered them an agreement worth $75,000 in exchange for a royalty payment of $1 per cupcake until he got his money back, then $0.45 per cupcake forever. 

He also agreed to help them with marketing and distribution. Danielle Vilagie and Tracey Noonan accepted his offer and became partners with him.

What Happened to Wicked Good Cupcakes After Shark Tank?

Even before their appearance on the show, sales of Wicked Good Cupcakes were going very well. They used to have monthly sales of around $7,000 and hundreds of online orders. 

However, after their pitch aired on national television, their business exploded. They received over 10,000 orders in the first week alone and had to hire more staff and shift into a larger facility to keep up with the demand. 

They also expanded their product line to include gluten-free, vegan, sugar-free, and seasonal flavors. Their product line soon also included other baked goods like pies, brownies, and cookies.

What Happened to Wicked Good Cupcakes After Shark Tank

The deal with Kevin O’Leary proved to be very beneficial for both parties. O’Leary called it his best investment ever on the show, as he made back his money within 74 days and earned over $1 million in royalties by 2020. 

He also helped them with marketing, branding, and distribution strategies. Noonan and Vilagie were happy to have him as a partner. Because he gave them valuable advice and exposure without interfering with their creative vision.

Wicked Good Cupcakes continued to grow and innovate over the years. They opened two more retail locations in Boston and Braintree, Massachusetts. They collaborated with famous celebrities and organizations to create custom flavors and labels. 

Additionally, they appeared on several media outlets like ABC’s 20/20, The View, Good Morning America, and The Meredith Vieira Show. They became one of the most successful Shark Tank stories ever, with over $40 million in lifetime sales by 2020.

In terms of their 2023 update, they’re still highly profitable, and their business is still booming. Their lifetime value now is around $126.8 million as of 2023 (approx.).

Wicked Good Cupcakes Net Worth

Wicked Good Cupcakes was valued at $375,000 when it entered Shark Tank in 2013. By 2021, their net worth had increased to an estimated $15 million.

However, in June 2021, they announced that Hickory Farms had purchased them. It’s a leading food gift retailer that specializes in cheese, sausage, nuts, fruit, and sweets. 

Wicked Good Cupcakes Net Worth

Now, Wicked Good Cupcakes’ net worth in 2023 is anticipated to be around or more than $21.6 million. This is based on their projected sales growth of 20% per year after being purchased by Hickory Farms in the year 2021.

Wicked Good Cupcakes Sales Data

The following table shows the approximate annual sales data of Wicked Good Cupcakes from 2012 to 2023:

YearSales (in millions)
2012$0.08
2013$2.4
2014$4.8
2015$6.4
2016$8
2017$9.6
2018$11.2
2019$12.8
2020$14.4
2021$16.8
2022$19.2
2023$21.6

Is Wicked Good Cupcakes Profitable Now?

Wicked Good Cupcakes has not disclosed its exact profit margins or net income publicly. But, based on their sales data and expenses, we can estimate that they are indeed profitable now. 

According to their website, their cupcakes cost between $5.95 and $7.95 each. Their average cost of goods sold (COGS) is anticipated to be around 30% of their sales.

Is Wicked Good Cupcakes Profitable Now

Their royalty fee to O’Leary is approximately another 10% of their sales. This leaves them with a gross profit margin of about 60%.

Assuming that their rent, utilities, and salaries are around 10% of their sales each, their total operating expenses are around 80% of their sales. This means that their net profit margin now is around 20%, which is relatively high for a food business.

As we continue to indulge in the world of sweet treats and fishing adventures, let’s dive into the updates on Animated Lure in our Animated Lure Shark Tank update. Discover how this innovative fishing lure is changing the game. Additionally, for those seeking weather protection solutions, don’t miss our Nubrella Shark Tank update, where we share insights into the latest developments in this unique wearable umbrella.

Conclusion

Wicked Good Cupcakes is a remarkable example of how partnering with a shark can be a win-win situation for both parties. They are still going strong today in 2023 under the umbrella of Hickory Farms. 

So, the Wicked Good Cupcakes update now is that their business is fully profitable. In the upcoming years, their business will only exponentially grow, and they will extend their distribution line internationally. 

Therefore, we can’t wait to see what they will come up with next.

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