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Story summary
- Candace Nelson founded Sprinkles Cupcakes in 2005 in Beverly Hills, California, gaining popularity with cupcake ATMs.
- The brand closed on December 31, 2023, due to rising costs and private equity pressures.
- During the decline, Baked by Melissa thrived by focusing on e-commerce and diversification.
- Industry observers note the cupcake trend has waned, but cupcakes remain beloved, and baking businesses will depend on quality.
