Cake Pitch Deck Breakdown: All 22 Slides

The Brand-First Approach to Sexual Wellness

Cake’s 2021 pitch deck is a study in how to use branding and market sentiment to disrupt a category dominated by legacy giants. In an industry where advertising is notoriously difficult and consumer experiences are often described as 'awkward' or 'embarrassing,' Cake presents a clean, bright, and unapologetic vision for the future of sexual health. The deck is less about spreadsheets and more about the cultural shift toward wellness and inclusivity.

Slides 1-7: Defining the Problem in a Stagnant Category

The deck opens with a bold, orange-saturated aesthetic and the tagline 'let’s get weird' (Slide 1). This immediately signals a departure from the clinical or overly erotic tones of competitors. Slide 3 states the core problem: 'The world doesn’t have a sexual wellness brand they love.' It divides the current market into two undesirable options: major players that ignore consumer needs and sex-toy-centric shops that feel 'awkward.'

Slides 4 through 7 provide a visual teardown of the competition. Slide 4 shows 'out-of-date' branding from Trojan and K-Y, characterized by dark, dated web design. Slide 5 attacks the ingredients of current products, listing parabens, alcohol, sulfates, dyes, and fragrances as common irritants. Slides 6 and 7 use photography to highlight the 'confusing in-store experience' of a crowded retail shelf and the 'embarrassing e-commerce experience' of adult sites like Adam & Eve, which are cluttered with explicit imagery. By framing the existing market as visually and ethically unappealing, Cake creates a vacuum that only a 'modern' brand can fill.

Slides 8-10: The Approachable Solution

Cake positions itself as 'The most approachable sexual wellness brand on earth' (Slide 8). The solution is defined by three pillars: modern branding, better ingredients, and 'confusing-free' shopping. Slide 9 showcases the product line, which uses a minimalist, color-coded design that looks more like high-end skincare than traditional lubricants.

Slide 10 is particularly effective for founders to study. It breaks down the brand voice into three categories: fun (playful names), clear (articulating use cases), and helpful (treating sex-care like skincare). They introduce products like 'so-low lotion' for solo play and 'tush cush' for backside play, explicitly stating that these names are 'friendly and PG' to encourage browsing without shame.

Slides 11-12: Market Opportunity and Omni-Channel Strategy

The deck shifts to the macro-opportunity on Slide 11, citing a $108B market with a $33B expansion projected through 2027. The growth is attributed to the 'normalization and general acceptance of sexual health being a part of one's overall wellness routine.' This is a key narrative shift—moving the product from the 'adult' category to the 'wellness' category.

Slide 12 reveals the 'how.' Cake is not just a DTC brand; it is an 'omni-channel sexual wellness brand.' The slide features a Venn diagram of Walmart, Amazon/Google, and HelloCake.com. The most significant traction point mentioned is the 2021 partnership with Walmart to 'reinvent the sex aisle.' This partnership serves as a massive de-risking event for investors, proving that a major retailer is willing to bet on Cake’s branding to drive category growth.

Slides 16-18: Winning the Gen Z Consumer

Cake leans heavily into demographic shifts. Slide 16 notes that Gen Z and Millennials are more sexually open, with 34.2% of Gen Z identifying as 'gay, queer, fluid, or open.' This data point justifies Cake’s inclusive and non-traditional brand voice.

Slide 17 focuses on TikTok, which Cake claims is responsible for 25% of their Month-over-Month growth. In 2021, TikTok was a frontier for sexual wellness brands, many of which were banned. Cake’s ability to generate organic 'Word of Mouth' (WOM) on the platform is presented as a competitive advantage. Slide 18 doubles down on this, claiming they have built a 'compliant sexual wellness infrastructure.' This includes changing Snapchat’s corporate policy and collaborating with Hulu, resulting in 'nearly zero rejections' of their ads. For a startup in a 'vice' category, proof of being able to spend ad dollars effectively is often more important than the product itself.

Slides 19-22: Data, Product Specialization, and Vertical Expansion

Slide 19 introduces the 'sexual preference database.' Cake tracks every interaction—quizzes, orders, and content consumption—to map a consumer’s 'sexual wellness routine.' This data-driven approach allows for personalized email marketing and product recommendations, something they claim legacy players haven't done for 50+ years.

Slide 20 highlights product-specific gaps in the market. They note that 'solo play' accounts for 30.9% of the market but is ignored by incumbents. By launching 'So-Low Lotion' and objects for 'men’s object play' in Walmart, Cake is targeting high-volume, low-competition niches. Slide 22 shows the roadmap for 'owning the sexual wellness vertical,' expanding from lubricants into protection (condoms), enhancers, hygiene, and objects (vibrators).

Slides 23-25: Social Proof and Sentiment

The deck concludes with qualitative validation. Slide 23 features detailed five-star reviews that emphasize the 'clean' nature of the products (e.g., 'no stinging, itching or other reactions'). Slide 24 provides a single, powerful metric: 83.6% of customers believe Cake helps them have a better sex life. Finally, Slide 25 displays a 'press wall' featuring logos from Fortune, Men's Health, and Shape, including a quote from Daily Dot: 'if you weren’t already familiar with the brand Cake, I actually feel bad for you.'

What Works in This Deck

Visual Storytelling: The use of 'before and after' imagery (Slides 4-7 vs. Slide 9) makes the value proposition immediately obvious without needing to read a single word. · Regulatory Moat: By highlighting their 'compliant marketing infrastructure' and policy changes at Snapchat, Cake demonstrates a 'moat' that isn't just about the product, but about the ability to reach the customer. · Strategic Retail Alignment: The Walmart partnership is the 'anchor' of the deck. It moves the company from a 'cool DTC startup' to a 'scalable retail brand.' · Niche Identification: Focusing on 'solo play' and 'men's object play' shows a sophisticated understanding of market gaps that larger, more conservative companies are afraid to touch.

What Is Missing

Team Slide: This version of the deck completely omits the founders and their backgrounds. In a Seed/Series A round, the 'why us' is usually as important as the 'why now.' · Unit Economics: There is no mention of Customer Acquisition Cost (CAC), Lifetime Value (LTV), or gross margins. While they mention ROAS is increasing, they provide no hard numbers. · Financial Projections: The deck lacks a forward-looking revenue chart. While the market size is clear, the company's specific path to $100M+ in revenue is left to the imagination. · The Ask: There is no slide detailing how much money is being raised or how those funds will be allocated (e.g., inventory for Walmart, R&D for the 'protection' line).

What a Founder Should Copy

The 'Problem' Slides: Use actual screenshots of your competitors' bad UX or dated branding. It makes the 'Solution' feel like a relief. · The Ingredient/Feature Comparison: Slide 5’s simple icon-based list of 'free from' is a standard in beauty/wellness that works exceptionally well for any CPG brand. · The Data Loop: Slide 19’s diagram of how data flows from a quiz back into a tailored recommendation is a great way to show that your 'brand' is actually a 'tech-enabled platform.' · The Press Quote: Instead of just a wall of logos, include one 'punchy' quote that captures the brand's cultural relevance, as seen on Slide 25.