LOS ANGELES, CALIFORNIA: What's in a name? Well, apparently a lot since ABC's 'The Shark Tank' Season 15 guest shark Candace Nelson and her company Sprinkles Cupcakes were once embroiled in a federal trademark infringement lawsuit against a store called Pink Sprinkles.
According to reports, the lawsuit was filed following the allegation that the similarity in the names of the two companies would cause confusion and faulty identification in the market.
Was Candace Nelson's lawsuit settled?
Back in 2012, the lawsuit was settled in court and Pink Sprinkles was directed to change their name to Pink Cupcake Shack.
The judge resolved the issue on the grounds of who was the first to open the shop and had the greatest claim to its name as a unique trademark.
Since Candace's Sprinkles Cupcakes first opened its doors in 2005 earlier than Pink Sprinkles' inception in 2005, the judgment was given in favor of her.
Who is Candace Nelson?
Candace Nelson is currently a multi-millionaire and has gathered her net worth by quitting her high-paying job as an investment banker and becoming a pastry chef.
She spent her childhood in Indonesia before relocating to the United States for her education. She from Groton school in the year 1991 and then went on to graduate with a Bachelor of Arts degree in Economics from Wesleyan University in 1996.
She was fond of baking since an early age and after arriving at a crucial career crossroads in the wake of the dot-com bubble burst, Candace decided to shift gears and become a pastry chef, opening her own unique cupcake restaurant chain.
'Shark Tank' Season 15 guest shark Candace Nelson started cup-cake trend
Both Candace and her husband Charles Nelson were laid off from their respective companies in the early 200s after the dot-com crash.
Building upon her childhood passion for baking, Candace made the decision to attend pastry school and subsequently opened her own cupcake shop.
Over the years, as the business grew, she managed to get several celebrity endorsements from stars such as Oprah Winfrey and others. Candace and Charles's successful business leadership has led to their expansion across fifty locations in the country.
'Shark Tank' Season 15 guest shark Candace Nelson on the ups and downs of entrepreneurship
Candace has been reported to depend on having a supportive and nurturing daily routine in order to successfully be a better businesswoman.
Her day-to-day management of time is best suited to her needs and is not at all negotiable. She needs a lot of rest and eight hours a day is her bare minimum.
Apart from working out regularly, Candace emphasizes having nourishing meals.
'Shark Tank' Season 15 guest shark Candace Nelson sold Sprinkles in 2014
Candance and Charles made the decision to sell their company Sprinkes Cupcakes to a private equity firm back in 2012.
Though the exact amount at which their first company was sold off is yet to be confirmed, it is believed that they jointly took this decision to spend more time with their family.
'Shark Tank' Season 15 guest shark Candace Nelson's net worth
Candace's net worth today is estimated to be approximately a whopping $20 million, as per The Cinemaholic.
This is derived from her multiple sources of earnings which include royalties from each of her published books which may amount to $150,000 as well as TV show judge fees which could be around $300,000.
It can be said that she earns significantly higher revenue than other single-income business owners.
'Shark Tank' Season 15 premieres Friday, September 29, 2023, at 8 pm ET on ABC and can be streamed the following day on Hulu.
