What Happened To The Tomte Cake After Shark Tank?

The Tomte Cake is a gingerbread house kit product that helps you build a non-assembled gingerbread house. This business was started by Miranda Tompkins in December 2021 and the idea of ​​this business came to Miranda while making gingerbread houses for children during Christmas.

Many people hold parties on the Christmas holiday and it is a special day for children in which children make and decorate gingerbread houses. There are many gingerbread houses available in the market but most of them do not taste good and assembling them is also not easy for children.

So The Tomte Cake is the best kit to make a non-assembled gingerbread house. Miranda Tompkins appeared on Shark Tank Season 15 Episode 8 for investment and asked the Sharks for $200,000 for 10% equity at a $2 Million Valuation.

The Tomte Cake Pan Images
images credit: thetomtecake.com

What Is The Tomte Cake?

The Tomte Cakes is a business that sells gingerbread house kits, Tomte gnomes, and more. Their products are mainly for Christmas and the target is kids.

This product is a 3D-designed house baking pan that will help kids make a quick gingerbread house on their own. Kids can make a house by adding their favorite flavors. The cost of this product is $54 and it is completely made of aluminum.

Company NameThe Tomte Cake
FounderMiranda Tompkins
FoundedOct 2022
ProductGingerbread House Kit
Asked For$200,000 for 10% equity
Final Deal$200k for 15% equity
SharkKevin O'Leary Shark Tank Profile Kevin O’Leary
Episode (Shark Tank USA)S15 E8
Air DateDec 8, 2023
Business StatusIn Business
WebsiteVisit Website
HeadquartersPortland, Oregon, USA
Lifetime Worth (Sales)$200k *estimated
Buy and WatchBuy NowAmazon Prime

Another Shark Tank Pitch

Who Is The Founder Of The Tomte Cake?

The Tomte Cake founder Miranda Tompkins
images credit: Abc Shark Tank Show

Miranda Tompkins is the founder of The Tomte Cake Business. Apart from this, she is a neuroscientist and has studied at Colgate University. After completing her studies, she worked in many companies for 3-4 years.

How Was The Shark Tank Pitch Of The Tomte Cake?

Founder Miranda, after entering the Shark Tank, asked for $200k for 10% equity from the Sharks. After this, she explained to the Sharks about her product. The cost of the product is $15. The retail cost of one set is $60 but the discount is available at the time of sale.

The product was launched last year on October 7th and 5,000 sets ($200,000) have been sold in just 35 days. The customer is brought to the product page through social media advertising. Of the $200,000 in sales, Ads cost only $40,000.

Miranda has so far invested $150,000 in this business. Kevin O’Leary offered $200k for a 25% equity + 25% of any distribution taken.

Lori Greiner suggested that more products could be made for valentines, birthdays, and many more. So Lori’s offer is $200k for 33.3% equity. Shortly thereafter, Barbara Corcoran offered $200k for 20% equity.

Daymond John told Barbara he would like to team up for 25% equity but Barbara said no. Daymond asked Lori to team up but when Lori refused, Daymond offered the single $200k for 25% equity.

Miranda ignored Barbara, Daymond, and Kevin’s offer and countered Lori for 20% equity but Lori said 25%. Miranda countered another 22% equity but Lori remained at 25% equity.

Kevin changed his offer to $200k for 15% equity. Lori countered with 24% equity but Miranda accepted Kevin’s offer of 15% equity.

SharksOffers
Barbara Corcoran Barbara Corcoran$200k for 20% equity (#1)
Kevin O'Leary Shark Tank Profile Kevin O’Leary$200k for a 25% equity + 25% of any distribution taken (#1)
$200k for 15% equity (#2)
Mark Cuban Shark Tank Profile Mark CubanNo Offer
Daymond John Daymond John$200k for 25% equity (#1)
Lori Greiner Profile for Shark Tank Lori Greiner$200k for 33.3% equity (#1)
$200k for 25% equity (#2)
$200k for 24% equity (#3)
Founder’s (Countered)$200k for 20% equity (Lori)
$200k for 22% equity (Lori)
Final Deals$200k for 15% equity

What Happened To The Tomte Cake After Shark Tank?

The Tomte Cakes got a deal on Shark Tank. Kevin O’Leary invested in that company. Due to this episode airing, many people bought this product for Christmas and shared videos on social media of making gingerbread house cakes.

What’s new on The Tomte Cake

Last Update: December, 2023

During the Christmas season, this company will make sales worth thousands of dollars and Kevin will also make the product available at retail stores through his contacts.

The Tomte Cake Shark Tank Update

The episode of Shark Tank was very positive for this business, it got free promotion of the product, and people all over the world started knowing about this product. To increase product sales, a good marketing strategy is needed and Sharks can help in this.

What Is The Tomte Cake Net Worth?

The Tomte Cake’s net worth is estimated at $0.5 million. The Christmas decorations market is huge and many small businesses make millions of dollars in revenue in this industry. Sales increased significantly within a few months.

Annual Revenue by Years

Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.

YearsAnnual Revenue
2023 *estimated
2022$200k *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2023$200KKevin O’Leary

Is The Tomte Cake Still In Business?

The Tomte Cake business was started in 2021-22 and in just 35 days, the sales of this business reached $200,000 by selling a single product. To increase business sales, the focus should be on making products for other seasons including the Christmas season.

The headquarters of this company is in Portland, Oregon, United States and 1-10 employees are working in it.

Yes, The Tomte Cake is still in business as of December 2023.

frequently asked questions

Who founded The Tomte Cake?

The Tomte Cake was founded by Miranda Tompkins.

Did The Tomte Cake get a deal on Shark Tank?

The Tomte Cakes got a deal on Shark Tank, Kevin O’Leary invested in this business.