What Happened to CurlMix After Shark Tank Pitch?
What is CurlMix?
CurlMix is a company that specializes on providing curly-haired women with a complete hair care line.
The company began with a do-it-yourself kit of certain ingredients and quickly expanded to encompass a wide range of high-quality organic oils, gels, shampoos, and other products.
Who Founded CurlMix?
CurlMix was launched in 2015 by entrepreneurs Tim and Kim Lewis.
Tim, who was well-known among friends and family for his knowledge of facts and trivia, went to college and later worked at Starbucks, while Kim earned a Bachelor’s degree in Logistics and Marketing from the University of Illinois.
Kim’s first business venture, Natural Hair Academy, a social network for women with curly hair, was funded using a portion of Tim’s $100,000 Who Wants to Be a Millionaire earnings.
Although that attempt failed, it did inspire the creation of CurlMix.
Curl Mix was Kim’s second effort.
It started off as a monthly subscription box that included all of the ingredients required to produce your own natural hair care products.
ONE BOX WAS SOLD BY HER. She updated her website, conducted considerable research, contacted industry leaders, and relaunched after going back to the drawing board.
She sold 90 boxes on the first day and ended the year with a sales total of $100,000.
Her products are high-end hair care products with a premium price tag. A bottle of any product costs $18, with discounts available if you buy the “Wash and Go system” in its entirety.
She sells on her website and on Amazon, but she’s most likely aiming for the high-end hair care retailer market.
What Happened to CurlMix at the Shark Tank Pitch?
Kim and Tim are searching for $400,000 in exchange for a 10% share in their company. This gives the company a $4 million valuation.
The Sharks aren’t big fans of the hair-care business. Mr. Wonderful maintains that there is nothing proprietary about them when they arrive one by one.
He believes that a major corporation will come in and put them out of business.
Alli Webb, who made a fortune straightening curly hair, is familiar with the industry but avoids it.
Robert, who admits he doesn’t know anything about the market, makes an offer of $400,000 for 20%. He claims to admire Lewis’ entrepreneurial mentality.
Unfortunately for Robert, Kim and Tim decline his offer.
What Happened to CurlMix After Shark Tank Pitch?
After rejecting Robert’s offer, Jeff Weiner (former LinkedIn CEO) and Arlan Hamilton offered the couple $1.2 million for a 10% stake in the company (Backstage Capital).
They went from $1 million in revenue in 2018 to $5 million in 2019 and $6 million in 2020.
Forbes’ 30 under 30 list for Retail and ecommerce in 2020 featured them. They also took advantage of a forgiving federal PPP loan granted to small businesses during the Covid-19 outbreak.
By 2021, they will have made over $13 million in lifetime sales and will continue to grow. They also raised $5,288,846 on Wefunder in May 2021. The company was placed 93rd on the Inc. 5,000 list in 2021.
What is the Net Worth of CurlMix?
The company is worth $12 million as of 2021.
Who are the Competitors of CurlMix?
CurlMix does not compete directly with other companies in the sector, although there are a number of well-known brands that offer similar products but have quite different pricing methods.
Curly Hair Club and AfroTherapy are two examples.
CurlMix began in what way?
Longtime sweethearts Kim and Tim Lewis bootstrapped the company, turning a common hair care component into a natural hair product that paved the way for a multi-million dollar beauty business catering to women with naturally wavy or curly hair.
Did CurlMix receive a bargain on Shark Tank?
No, they turned down a $400,000 offer from Shark Robert Herjavec.
What is the current market value of CurlMix?
After the Shark Tank show aired, CurlMix successfully sought and received a $1.2 million investment from LinkedIn’s founder and Executive Chairman, Jeff Weiner.
CurlMix’s total net worth, according to the Black Enterprise, is $12 million.
Is CurlMix sold on Amazon?
Yes! CurlMix sells a variety of products on Amazon.
Is CurlMix still in operation?
They are undeniably still in operation and thriving. CurlMix, according to the company, has already hired over thirty people and services over 200,000 customers.
What is the shelf life of CurlMix products?
Two years approximately
Is it okay to use CurlMix products on colour-treated hair?
They certainly are.
Will all of their items be natural and organic?
Yes, only organic and/or natural ingredients will be utilized. Their labels are simple so they can tell what’s on their head.
What if they have a few food allergies?
Maize, soy, wheat, and/or nut products may have been used as ingredients.
They could have been made in a factory that produces those items.
Please check the product labels for their allergies before their first use and/or purchase.
How can they cancel their CurlMix subscription?
Please send an email to [email protected] at least seven (7) days before your next monthly billing period to discontinue your CurlMix membership.
CurlMix is used in what way?
Completely saturate their hair. Add the CurlMix Pure Aloe Vera Shampoo to their hands, rub them together, and then massage it into their scalp with their fingertips while their hair is soaking wet.
Massage their head instead of scratching it. If they think they’ll need more product, start by adding additional water, then shampoo.
How do they contact CurlMix?
They can reach out to them by email at [email protected].
CurlMix has been in business for how long?
Kimberly and Timothy Lewis developed CurlMix in 2015 with the purpose of making organic haircare products more accessible to people with curly hair.
Where can they find curl mix?
Curlmix Inc. is a firm headquartered in Chicago, Illinois.
How is the business model?
Because of the cheap transportation costs, the company is able to sell their products at a significant discount.
Why are some customers happy with CurlMix?
CurlMix’s products are popular among senior adults since they let them to save money on their Medicare payments by using them.
Is there any opportunity?
CurlMix held a contest for a chance to win a professional cut and blow dry.
CurlMix is still going strong and growing every day!
What are the strengths?
CurlMix is one of the only natural haircare products available that does not require the use of extra style treatments.
What job opportunity can make with CurlMix?
Sales, marketing, product research, production, IT services, and customer support are among the positions available.