Entrepreneur Miranda Vaughn pitched her unique alternative to traditional gingerbread houses on Shark Tank Season 15.
The Tomte Cake is her innovative solution to the common problems with gingerbread house-making. This product comes in a kit, which includes a 3D cake pan and a book that Miranda both wrote and illustrated.
Did Tomte Cake get a deal on Shark Tank?
Or,
What happened to The Tomte Cake after Shark Tank?
Find out all the details in our thorough analysis on The Tomte Cake Shark Tank update and pitch recap!
If you’re short on time, here’s a quick overview of what happened to Tomte Cake after Shark Tank:
Quick Summary
Miranda Vaughn appeared on Season 15 of Shark Tank, where she secured a deal with Kevin O’Leary for $200,000 in exchange for 15% equity in her business. Regarding The Tomte Cake Shark Tank update, the company is expected to see a significant increase in sales as the holiday season approaches. Sets and accessories can be purchased through the company’s website.
Table of Contents
The Tomte Cake On Shark Tank
| Shark | Result |
| Kevin O’Leary | Accepted deal of $200,000 for 15% equity |
| Daymond John | Offered $200,000 for 25% equity (Not Accepted) |
| Lori Greiner | Offered $200,000 for 24% equity (Not Accepted) |
| Barbara Corcoran | Offered $200,000 for 20% equity (Not Accepted) |
| Mark Cuban | No Offer |
The Tomte Cake Shark Tank Deal
- Business: Alternative To Gingerbread Houses
- Entrepreneur: Miranda Vaughn
- Asked For: $200,000 for 10% equity
- Shark Tank Deal: $200,000 for 15% equity
- Shark: Kevin O’Leary
The Tomte Cake Company Info
| Brand Name | The Tomte Cake |
| Official Website | thetomtecake.com |
| @thetomtecake | |
| @TheTomteCake | |
| the-tomte-cake | |
| Where To Buy Tomte Cake Set | Buy Now |
The Tomte Cake Overview
Tomte Cake is a new, fun, and easy twist on the classic gingerbread house tradition. Instead of dealing with the typical mess of assembling a gingerbread house that often ends up falling apart or becoming too stale to eat, Tomte Cake makes it simple and delicious.
The product comes as a kit that includes:
- A 3D cake pan to bake the cake into the shape of a house.
- A whimsical book written and illustrated by Miranda Vaughn, featuring a story about a gnome named Tomte who bakes into the cake but survives to tell the tale.
- A Tomte gnome that can be baked inside the cake for added fun and a prize for the person who finds it.
The cake itself is easy to bake and decorate, providing families with a less frustrating and more enjoyable experience. Plus, it’s a cake, so it’s not only fun to make, but it’s also delicious!
Miranda’s goal with Tomte Cake was to provide a solution to a common problem: assembling gingerbread houses is often a chaotic and frustrating experience.
Tomte Cake gives families a fun, creative outlet without the mess, with a delicious treat to show for it at the end. And with the addition of the cute Tomte gnome, it turns the whole process into a delightful holiday activity.
The Tomte Cake Founder: Miranda Vaughn
Miranda Vaughn is the creative force behind The Tomte Cake, a whimsical gingerbread house baking kit featuring a mischievous gnome named Tomte. A mother of two, Miranda lives in the Pacific Northwest and is passionate about nature, animals, and most notably, horses.
Her greatest joy comes from being a mother and creating special memories and traditions with her children, which inspired the creation of her unique product. The idea behind The Tomte Cake came from her desire to make family holiday traditions more fun and memorable.
In addition to creating the product, Miranda wrote and illustrated the story behind Tomte. The story came to her quickly—she wrote it in just an hour using a purple crayon from her daughter’s coloring book, and then spent a year illustrating it.
Miranda hopes that her product, combined with the accompanying story, will bring joy and lasting memories to families everywhere. Her experience on Shark Tank has been transformative, and she has shared valuable lessons learned from the show through a blog post on The Tomte Cake website, further cementing her commitment to both the business and her community.
Tomte Cake Shark Tank Pitch Recap
In the Shark Tank Season 15, Miranda Vaughn introduced her innovative product, The Tomte Cake, which aims to reinvent the classic holiday tradition of building gingerbread houses.
She brought her idea to the Sharks with a clear vision and a relatable story that resonated with parents who have struggled to assemble gingerbread houses that just don’t seem to stay together.
Here’s a detailed look at Tomte Cake Shark Tank pitch recap, the offers she received, and the intense negotiations that followed.
Miranda started her pitch by addressing a common holiday dilemma — the frustrations of assembling gingerbread houses. According to Miranda, the process of putting together gingerbread houses isn’t fun and the houses end up stale, making them hardly enjoyable to eat.
Miranda explained that the inspiration for The Tomte Cake came from her own struggles with assembling gingerbread houses with her kids. She shared how difficult it was to get the houses to stay intact, a problem many parents can relate to.
To solve this problem, Miranda created The Tomte Cake, a unique take on the traditional gingerbread house. Instead of gingerbread, her product uses cake, eliminating the need for complex assembly and the frustration that often comes with it.
The Tomte Cake kit includes:
- A 2-house 3D cake pan: This mold allows you to bake two small cake houses, which can then be decorated for the holiday season.
- A storybook: Miranda wrote and illustrated a charming book about a little gnome named Tomte who is baked into the cake but ultimately survives.
- The Tomte Gnome: A small gnome figure can be baked inside the cake, creating a fun surprise when the cake is cut. The person who finds the gnome gets a special prize.
Miranda positioned her product as a simple, stress-free alternative to gingerbread houses, where families can bake and decorate their own festive houses with no complex assembly required.
Shark Tank Tomte Cake: Sales, Costs, and Profit Margins
Miranda shared key numbers that demonstrated her early success with the product:
- The Tomte Cake set is sold online for $60 per kit.
- The cost to make each set is $15.
- She launched the company in October of the previous year, and within just 35 days, she sold out all 5,000 sets that she had stocked in her inventory.
- Miranda spent $40,000 on a single Facebook ad campaign, which led to $200,000 in sales within that short period.
These numbers painted a clear picture of demand and profitability, catching the attention of the Sharks.
Miranda’s Vision For The Tomte Cake
When Daymond John inquired about Miranda’s expectations from a partnership with a Shark, she was open and transparent.
Miranda expressed that while she wasn’t a businessperson by nature, she was seeking mentorship to help grow her business. She explained that she envisioned The Tomte Cake becoming as iconic as Elf on the Shelf, growing into a year-round tradition for families, and even expanding into other holidays.
She also expressed her desire to create new products, such as additional books and pans, to build a larger product line.
Miranda also shared that she had invested heavily in her company, putting $150,000 into the business by taking out a mortgage on her home and a loan against her car.
This financial commitment showed her dedication and willingness to take risks in order to make her business a success.
Sharks’ Offers For Tomte Cake Shark Tank Pitch
As Miranda outlined the potential of The Tomte Cake, the Sharks began to respond. Here’s a breakdown of the offers made by the Sharks:
Kevin O’Leary’s Offer: $200,000 for 25% Equity Plus 25% of Distribution
Kevin O’Leary was the first Shark to jump in with an offer. He offered $200,000 for 25% equity in The Tomte Cake, as well as 25% of any distribution profits. Kevin’s offer was straightforward, but he made it clear that he wanted a significant stake in the company, reflecting his desire for control over future distribution deals.
Lori Greiner’s Offer: $200,000 for 33.3% Equity
Lori Greiner was also interested in Miranda’s business, particularly because of the potential for The Tomte Cake to become a family tradition for all holidays. Lori envisioned expanding the product line with new books and pans.
She offered $200,000 for 33.3% equity, which was a larger percentage than Kevin’s offer. Lori’s offer reflected her belief that Miranda would need significant help to scale her business to the next level, especially since Miranda admitted she wasn’t a business expert.
Mark Cuban: Bowing Out
As the offers began to come in, Mark Cuban quickly assessed the situation and decided to bow out. He felt that the offers on the table were more favorable than anything he could offer, so he opted not to compete for equity in The Tomte Cake.
Barbara Corcoran: $200,000 for 20% Equity
Barbara Corcoran also showed interest, offering $200,000 for 20% equity. However, the negotiations became a bit more complicated when Daymond John expressed interest in partnering with Barbara. He proposed coming in on the deal but for 25% equity, which Barbara found too high. She declined to team up with Daymond, and the two Sharks went their separate ways.
Daymond John: $200,000 for 25% Equity
Daymond John, after hearing Barbara’s offer, also made a play for The Tomte Cake, offering $200,000 for 25% equity. Daymond had been considering teaming up with Barbara but ultimately decided to make a standalone offer for the same terms as Lori’s but without the complications of additional Sharks.
Miranda’s Counteroffers For The Sharks
Miranda wasn’t immediately satisfied with any of the offers, especially the higher equity asks from Lori and Daymond. She began to negotiate:
- Miranda countered Lori’s offer, proposing a lower equity stake of 20%, but Lori was firm in her valuation and refused to go below 25%.
- Miranda attempted to negotiate further by offering 22%, but Lori remained steadfast at 25%.
At this point, Kevin O’Leary adjusted his offer to $200,000 for 15% equity, showing flexibility in an attempt to close the deal. Lori Greiner, not to be outdone, dropped her offer to 24% equity in a final push.
Despite her best efforts, Miranda couldn’t get Lori to budge to 20%, and after some back-and-forth, Miranda agreed to Kevin O’Leary’s offer of $200,000 for 15% equity.
Shark Tank Tomte Cake Deal
After intense negotiations, Miranda made the decision to accept Kevin O’Leary’s offer, choosing the lower equity percentage but securing a much-needed business partner who could provide guidance and mentorship.
With $200,000 in funding and 15% equity surrendered, Miranda was ready to scale her business with Kevin’s help.
This deal marked the beginning of an exciting new chapter for The Tomte Cake, and many are curious to see how Kevin’s expertise will help Miranda turn her holiday tradition into a year-round sensation.
What happened to The Tomte Cake following Shark Tank? Keep reading our The Tomte Cake Update to find out!
Tomte Cake Shark Tank Update
So, what happened to Tomte Cake after Shark Tank?
According to Tomte Cake Shark Tank Update: Since airing, Tomte Cake has benefited from a significant boost in visibility, which is typical for businesses that appear on Shark Tank.
Although there are no updated revenue figures available, we can assume that Miranda’s company is experiencing increased sales, especially with the approaching holiday season.
After the show aired, Tomte Cake capitalized on the holiday trend, which led to a surge in sales. The kits, which had already sold out quickly prior to the airing, likely saw even more demand as families embraced the idea of a simple, delicious alternative to the gingerbread house tradition.
In addition to the sets, the Tomte Cake website offers additional products like extra gnomes, cake pans, and even gift cards, which further extended their reach into the market.
With the backing of Kevin O’Leary, who is known for his sharp business acumen and mentorship, it’s clear that Miranda is positioned for success. His expertise in scaling businesses will be crucial as Tomte Cake works to grow its brand and expand its product line.
Tomte Cake Shark Tank Net Worth
During the Shark Tank pitch, Miranda Vaughn valued The Tomte Cake at $1.3 million based on her sales and future potential.
The company had already shown impressive early growth, with $200,000 in sales from just 5,000 sets sold within 35 days. This early success, coupled with the $60 price point and $15 production cost per set, demonstrated a solid profit margin of $45 per set.
By the time Miranda secured Kevin O’Leary’s investment of $200,000 for 15% equity, the valuation was effectively reaffirmed at $1.3 million. This reflects the strong demand for the product and the scalability of the business, as Miranda aims to grow the product line and expand beyond the Christmas season into other holidays.
The financial data points to a promising future for The Tomte Cake, with potential for significant growth under Kevin’s mentorship.
Did Tomte Cake Get A Deal On Shark Tank?
Yes, The Tomte Cake secured a deal on Shark Tank.
Miranda Tompkins received an offer from Kevin O’Leary for $200,000 in exchange for 15% equity in the business, along with 25% of any distribution taken.
After a tense negotiation process with other sharks, including offers from Lori Greiner and Barbara Corcoran, Miranda ultimately accepted Kevin’s deal.
The negotiations saw several back-and-forth moments, with Miranda initially countering Lori’s 33.3% equity offer before agreeing to Kevin’s revised terms.
Kevin’s offer came after multiple rounds of negotiation, where Miranda aimed for a lower equity stake but ultimately agreed to his terms, feeling confident that his expertise would help her grow the brand.
This deal marked a significant step for The Tomte Cake as Miranda looks to expand her product line and make her unique holiday tradition a mainstream success.
Tomte Cake Reviews
The Tomte Cake has received a positive reception from both parents and holiday enthusiasts, with many praising the product for its creativity and simplicity.
Reviewers love the idea of replacing the traditionally difficult and stale gingerbread houses with a fun, easy-to-assemble cake. The included 3D cake pan and illustrated storybook add a unique touch that appeals to families looking for a new tradition.
The addition of a little Tomte gnome baked inside the cake adds an extra layer of excitement, making it a fun and interactive activity for kids.
On the downside, some customers mention the price point of $60 per set as a bit steep, though many find the product’s novelty and quality justify the cost. The $15 production cost ensures a solid profit margin, but the set’s appeal largely depends on consumer preferences for holiday-themed activities.
Overall, The Tomte Cake has carved out a niche in the market, attracting a growing number of fans eager to incorporate it into their holiday celebrations.
Where To Buy Tomte Cake?
You can purchase The Tomte Cake directly from its official website. The kits, which include a 2-house 3D cake pan and an illustrated book, are available for $60. The website also offers additional items such as extra gnomes, cake pans, and gift cards, making it easy to customize your experience or gift the set to others during the holiday season.
In addition to the official website, The Tomte Cake is available for purchase through select online retail platforms. As the product continues to gain popularity, Miranda’s vision is for The Tomte Cake to become a tradition for families everywhere, making it more accessible in the coming years.
What’s Next For The Tomte Cake?
Looking ahead, Miranda has big plans for Tomte Cake. Her vision is for the product to become as popular as traditions like Elf on the Shelf, with potential for expansion into new holiday-themed kits and products.
In fact, Lori Greiner’s offer, which envisioned Tomte Cake expanding into a full product line with new books and pans, could very well come to fruition in the coming years.
With Kevin O’Leary’s guidance, Miranda is likely to refine her business strategy and marketing efforts to expand her reach beyond the initial holiday seasons.
The upcoming years could see Tomte Cake becoming a staple in homes across the country, with families continuing to embrace this fun, easy, and delicious tradition.
FAQs On The Tomte Cake Shark Tank Update Today
Who Owns The Tomte Cake?
Miranda Tompkins is the founder and owner of The Tomte Cake. She launched the company in October of the previous year and has since grown it through creative marketing and product innovation. After her appearance on Shark Tank, she secured a deal with Kevin O’Leary, who now holds a 15% equity stake in the business.
Did Tomte Cake Get A Deal On Shark Tank?
Yes, The Tomte Cake secured a deal on Shark Tank. Miranda Tompkins accepted Kevin O’Leary’s offer of $200,000 for 15% equity in the company after some negotiation.
Is Tomte Cake Still In Business?
Yes, Tomte Cake is still in business. Following its appearance on Shark Tank, the company has continued to sell its kits and has gained popularity, especially during the holiday season. With Kevin O’Leary’s investment and mentorship, Miranda Tompkins aims to expand the brand and its product offerings.
What Happened To Tomte Cake After Shark Tank?
After appearing on Shark Tank, The Tomte Cake saw a significant boost in sales, with Miranda Tompkins continuing to expand the brand under Kevin O’Leary’s mentorship.
The company gained widespread attention during the holiday season, and Miranda has since focused on growing the product line and establishing The Tomte Cake as a new holiday tradition.
Is Tomte Cake Successful?
Yes, Tomte Cake has proven successful, with impressive early sales of $200,000 from 5,000 sets sold in just 35 days. The product’s unique approach to a holiday tradition and the backing of Kevin O’Leary are expected to drive further growth and solidify its place in the market.
Conclusion: Tomte Cake After Shark Tank
According to the latest Tomte Cake Shark Tank Update: The Tomte Cake is a perfect example of how innovation can take an old tradition and make it new again.
Miranda Vaughn’s idea of turning the frustrating gingerbread house into a simple, fun-to-make cake is resonating with families across the country, and with the added boost of the Shark Tank deal with Kevin O’Leary, the future of Tomte Cake looks bright.
As the product continues to grow and evolve, it’s clear that Tomte Cake is more than just a product—it’s a potential new holiday tradition.
So, if you’re looking for a fun, creative way to celebrate the season or need a unique gift, be sure to check out Tomte Cake online.
FYI, if we learn anything new about this company, we will surely come up with another Tomte Cake Shark Tank Update.
In the meantime, you can check out more Company Updates on Shark Tank Season 15 Episode 8 by clicking on the links below:
- Black Paper Party After Shark Tank Update
- Snow in Seconds After Shark Tank Update
- Pick Up Bricks After Shark Tank Update
Before you go, make sure to visit our Season 15 Company Updates Page, All Company Updates Page and Shark Tank All Products Page for more information on various companies and products featured in the Show.
At the same time, you can FOLLOW our blog to get the latest updates on businesses featured in Shark Tank Show. And, if you have any questions, you can send us message at your convenience.
Lastly, you can check out more Company Updates for the businesses featured in Shark Tank Season 14 by visiting our Season 14 Company Updates Page.
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