CurlMix Net Worth
CurlMix is currently valued at a $25.5 million pre-money valuation and has generated more than $13 million in revenue since its inception in 2015.
After appearing on Shark Tank, CurlMix successfully secured a $1.2 million investment and is now worth $12 million.
What is CurlMix and Who Founded CurlMix?
CurlMix is a company that offers a range of hair care products specially designed for women with curly hair. Initially, the company started with a do-it-yourself package of targeted items but eventually expanded to include a comprehensive range of high-quality organic oils, gels, shampoos, and more.
The company was founded in 2015 by Tim and Kim Lewis, who are both entrepreneurs. Tim is known for his expertise in facts and trivia and has previously worked at Starbucks.
On the other hand, Kim holds a Bachelor’s degree in Logistics and Marketing from the University of Illinois. Together, they are the brains behind CurlMix.
CurlMix Shark Tank Pitch
In an effort to launch her own business, Kim Lewis initially attempted to create a social network for curly-haired women called the Natural Hair Academy, which was financed with a portion of Tim’s $100,000 Who Wants to Be Millionaire earnings. Despite her best efforts, the idea did not pan out, but it did inspire the creation of CurlMix.
CurlMix started as a monthly subscription service that provided consumers with the necessary components to make their own natural hair care items.
Unfortunately, Kim only sold one box initially, but after revamping her website, conducting extensive research, reaching out to industry influencers, and relaunching, she was able to sell 90 boxes on the first day and eventually made $100,000 in sales for the year.
Her items are considered high-end hair care goods, with each bottle costing $18 and discounts available when purchasing a complete “Wash and Go system” bundle. While she sells on her website and Amazon, she is also looking to enter the luxury hair care store sector.
During their appearance on Shark Tank, Kim, and Tim were seeking $400,000 for a 10% stake in their company, valuing it at $4 million.
The Sharks, however, were not enthusiastic about the hair care industry, with Mr. Wonderful stating that there was nothing unique about it, and he believed that a large corporation would eventually put them out of business. Alli Webb, who made a fortune straightening curly hair, was knowledgeable about the industry but did not invest.
Robert, who admittedly did not understand the market, offered $400,000 for a 20% stake but was turned down by Kim and Tim.
After declining Robert’s offer, the couple received $1.2 million for a 10% stake in the company from Jeff Weiner, the former CEO of LinkedIn, and Arlan Hamilton of Backstage Capital. Their sales increased from $1 million in 2018 to $5 million in 2019 and $6 million in 2020.
They have also included in Forbes’ 30 under 30 lists for Retail and E-commerce in 2020 and took advantage of a federal PPP loan for small businesses during the Covid-19 pandemic.
As of 2021, they are expected to have over $13 million in lifetime sales and continue to expand. They also raised $5,288,846 on Wefunder in May 2021 and were ranked 93rd on the Inc. 5,000 list for 2021.
CurlMix Net Worth
The company is worth $12 million.
CurlMix Competitors
CurlMix is not directly competing with other companies in the industry, but there are several house hold names in the market that offer similar products but have very different pricing strategies. This includes; Curly Hair Club and AfroTherapy.
CurlMix FAQS
CurlMix began in what way?
Kim and Tim Lewis, longtime sweethearts, bootstrapped the firm, transforming an everyday hair care component into a natural hair product that opened the path for a multi-million beauty business catering to ladies with naturally wavy or curly hair.
Did CurlMix receive a bargain on Shark Tank?
No, they declined Robert Herjavec’s $400,000 offer from the Shark.
What did the Sharks have to offer CurlMix?
CurlMix had only one offer from Shark Robert Herjavec, but walked away and refused it.
Shark Kevin O’ Leary, as predicted, had a problem with CurlMix’s $4 million valuation and thought the company was overpriced and not worth the risk for his investment.
Lori Greiner followed O’Leary and indicated that she, too, lacks experience in CurlMix’s industry, thus she is out.
Shark Mark Cuban was snubbed because he lacks a thorough understanding of the market.
What is the current market value of CurlMix?
CurlMix successfully sought and got a $1.2 million investment from LinkedIn’s creator and Executive Chairman, Jeff Weiner, after the Shark Tank episode aired.
According to the Black Enterprise, this values CurlMix’s entire net worth at $12 million.
Is CurlMix sold on Amazon?
Yes! CurlMix offers a number of goods available on Amazon.
Is CurlMix still in operation?
They are unquestionably still in business and prospering. According to the firm, CurlMix has already hired more than thirty staff and serves over 200,000 consumers.
What is the shelf life of CurlMix products?
Approximately two years
Is it okay to use CurlMix products on colour-treated hair?
They are, indeed.
Will all of their items be natural and organic?
Yes, only natural and/or organic components will be used. We make our labels basic so you can tell what’s on your hair.
What if they have a few food allergies?
Ingredients might have come from maize, soy, wheat, and/or nut products.
They might potentially have been manufactured in a factory that manufactures those things.
So, before your first usage and/or purchase, please check the product labels for your allergies.
How can they cancel their CurlMix subscription?
To cancel your CurlMix membership, please send an email to [email protected] at least seven (7) days before your next monthly billing period.
CurlMix is used in what way?
Saturate your hair completely. When your hair is soaking wet, add the CurlMix Pure Aloe Vera Shampoo to your hands, rub them, and massage it into your scalp with your fingertips.
Instead of scratching your head, massage it. If you think you need more product, add more water first, then more shampoo.
How do they contact CurlMix?
Contact Email [email protected]
Phone Number +1-312-380-0419.
CurlMix has been in business for how long?
CurlMix was founded in 2015 by Kimberly and Timothy Lewis with the goal of making organic haircare products more accessible to people with curly hair.
Where can they find curl mix?
Chicago, Illinois
Curlmix Inc. is a company based in Chicago, Illinois, United States.
How is the business model?
The company is able to sell their products at a substantial discount because of the low cost of shipping costs.
Why are some customers happy with CurlMix?
Senior citizens are pleased with CurlMix’s products because they are able to reduce payments on their Medicare payments by using the products.
Is any opportunity?
CurlMix held a contest for someone to win a fresh cut and blow dry by a professional.
CurlMix is still in business and expanding every day!
What are the strengths?
CurlMix is one of the few natural haircare products on the market that doesn’t require additional styling products.
What job opportunity can make with CurlMix?
They offer various jobs; sales, marketing, product research, production, IT services and customer service.
