CurlMix Shark Tank Update | CurlMix after Shark Tank Pitch
What is CurlMix?
CurlMix is a company that creates a complete hair care range for curly-haired women.
The firm began with a do-it-yourself package of targeted items and quickly expanded to include a comprehensive range of quality handmade organic oils, gels, shampoos, and more.
Tim and Kim Lewis, entrepreneurs, founded CurlMix in 2015.
Tim, who was known among friends and family for his mastery of facts and trivia, went to college and subsequently worked at Starbucks, while Kim graduated from the University of Illinois with a Bachelor’s degree in Logistics and Marketing.
Who Founded CurlMix?
Kim Lewis and Tim Lewis are the founders of Curlmix.
What happen to CurlMix at the Shark Tank Pitch?
Tim used a portion of his $100,000 Who Wants to Be a Millionaire winnings to sponsor Kim’s first business venture, Natural Hair Academy — a social network for women with curly hair.
That experiment did not work out, but it did inspire the development of CurlMix.
Kim’s second effort was Curl Mix.
It began as a monthly subscription box that gave consumers the components they needed to make their own natural hair care products.
SHE SOLD ONE BOX. Back to the drawing board, she redesigned her website, conducted extensive research, contacted industry influencers, and relaunched.
She sold 90 boxes on the first day and went on to make $100,000 in sales for the year.
Her goods are luxury hair care products, and they are priced accordingly. A bottle of any product costs $18, with reductions available when purchasing a complete “Wash and Go system” bundle.
She sells on her website and on Amazon, but she’s most likely looking to get into the high-end hair care store sector.
Kim and Tim come in looking for $400,000 for a 10% stake in their firm. This brings a valuation of $4 million of the Company.
The Sharks aren’t big supporters of the hair care industry. They arrive one by one, and Mr. Wonderful claims that there is nothing proprietary about it.
He believes a large corporation will come in and squash them.
Alli Webb, who earned a fortune straightening curly hair, knows the industry but does not participate.
Robert, who acknowledges he doesn’t understand the market, makes an offer of $400,000 for 20%. He claims to believe in Lewis’ business spirit.
Sadly for Robert, Kim and Tim turn down his offer.
CurlMix after Shark Tank Pitch
After rejecting Robert’s offer, the couple obtained $1.2 million for 10% of the company from Jeff Weiner (Former LinkedIn CEO) and Arlan Hamilton (Backstage Capital).
They increased their sales from $1 million in 2018 to $5 million in 2019 and $6 million in 2020.
They were included to Forbes’ 30 under 30 list for Retail and ecommerce in 2020. During the Covid-19 outbreak, they also took up a forgiving federal PPP loan offered to small enterprises.
They will have over $13 million in lifetime sales by 2021 and will continue to expand. In May 2021, they also raised $5,288,846 on Wefunder. In 2021, the firm ranked 93rd on the Inc. 5,000 list.
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.
