Wicked Good Cupcakes pitched cupcakes in mason jars on Shark Tank in 2013 and walked out with one of the show’s best-known royalty deals. In 2021 it was sold to Hickory Farms. Plenty of sites put a net worth on the company, but the sale price was never published. This post sticks to what the founders, Kevin O’Leary and the buyer have actually said.
Financial data note: Wicked Good Cupcakes was privately held, and the terms of its sale to Hickory Farms were not disclosed. Sales and royalty figures below come from founder interviews, Shark Tank update segments and press reports, and each one is labeled. None of them are audited.
Wicked Good Cupcakes Quick facts
| Founders | Tracey Noonan and Danielle Vilagie (formerly Desroches) |
| Shark Tank Appearance | Season 4, Episode 22 (Aired April 2013) |
| Original Pitch Ask | $75,000 for 20% equity ($375,000 implied valuation) |
| Final Deal | $75,000 for $1/jar royalty until recouped, then $0.45/jar in perpetuity (0% equity) |
| Acquired By | Hickory Farms (Announced June 24, 2021) |
| Acquisition Price | Undisclosed (Multi-million dollar private transaction) |
| Net Worth / Valuation | Not confirmed (Blog estimates of $15 million are unsourced) |
Where it started
According to the Hickory Farms announcement, Noonan and Vilagie started with cake-decorating classes in 2010 and opened their first store in Cohasset, Massachusetts. Customers kept asking them to ship cupcakes across the country, but regular cupcakes didn’t survive the trip. Their answer was layering the cake, frosting and filling in a mason jar, which kept the cupcakes fresh for up to ten days without refrigeration.
Before Shark Tank, Noonan told ABC the company had about $150,000 in sales.
The deal
They asked for $75,000 for 20%. The other Sharks passed. O’Leary offered a royalty instead: $1 for every jar sold until he got his $75,000 back, then 50 cents a jar after that. The founders countered at 40 cents, and they settled on 45 cents. O’Leary took no equity, which is why the founders kept 100% of the company.
For comparison, most Shark Tank deals involve giving up 10%–30% equity — like the Cordaroys deal with Lori Greiner, where the founders gave up 58% of the company for $200,000.
When O’Leary later described the deal, he called it a perpetual royalty of 7.5%. In a 2024 BNN Bloomberg interview, he said, “I didn’t have any equity, but I had the perpetual royalty of 7.5 per cent.” That doesn’t match a flat per-jar rate, so either the terms changed after the episode or he was summarizing loosely. The on-air terms are the only ones that have been documented.
Sales after the show
Here’s what has been reported, and by whom:
• 2016: Noonan told ABC the business had passed $10 million in sales since its appearance, and O’Leary joined them for the one-millionth jar.
• 2017: O’Leary said monthly sales had grown from about $7,000 to $400,000, according to Fortune. He called it his most profitable Shark Tank investment.
• Later: Shark Tank Blog reports about $40 million in total sales and more than $1 million in royalties paid to O’Leary. I couldn’t tie either number to a primary source, so treat them as unconfirmed.
To put those numbers in context, Cousins Maine Lobster — another food brand from Shark Tank — has reported over $585 million in lifetime sales after a much smaller initial deal with Barbara Corcoran.
The sale to Hickory Farms
Hickory Farms announced the acquisition on June 24, 2021. The announcement gave no price. Benzinga and WCVB both describe the sale as multi-million dollar or undisclosed.
What happened to O’Leary’s royalty is partly on the record. In that BNN interview, he said Hickory Farms approached him about buying out his perpetual royalty and that he didn’t want to sell because he was happy collecting a monthly check. He didn’t say what he was paid or whether a buyout closed. I haven’t seen a source for the claim that he received a multi-million-dollar royalty buyout, so I’m not repeating it.
Net worth
The figure you’ll see most often is about $15 million, which Shark Tank Blog attributes to a net-worth estimate. No sale price or valuation backs it. Because Hickory Farms never disclosed what it paid, any exact number for what the founders received is a guess.
Today
The 2021 announcement said the cupcakes would keep selling at WickedGoodCupcakes.com and would be added to hickoryfarms.com. Check both sites for what’s currently available.
Wicked Good Cupcakes isn’t the only Shark Tank brand still thriving years after the show. ReadeREST, Safe Grabs, and Drop Stop are all still operating and generating revenue well past their original pitches.
Wicked Good Cupcakes FAQs
What is Wicked Good Cupcakes’ net worth?
There’s no confirmed figure. Hickory Farms bought it in June 2021 for an undisclosed price. Online estimates of about $15 million aren’t backed by a disclosed source.
What deal did they make on Shark Tank?
Kevin O’Leary invested $75,000 for a royalty of $1 per jar until recouped, then $0.45 per jar. He took no equity.
How much did Kevin O’Leary make?
The amount isn’t public. He has called it his most profitable Shark Tank investment, and Shark Tank Blog reports more than $1 million in royalties, which I couldn’t verify.
Is Wicked Good Cupcakes still in business?
It was acquired by Hickory Farms in 2021. Check the company’s websites for its current status.