Transformation Factory Shark Tank Net Worth- What Happened After The Shark Tank?
Transformation Factory Shark Tank Net Worth
The Transformation Factory is currently in business and has a net worth of $3 million based on their valuation. It was founded by Alexiou Gibson in 2020 and appeared on Season 13 Episode 24 of Shark Tank USA on May 20, 2022.
They offered a Sea Moss Fruits Gel product and asked for $500,000 for 5% equity, which implied a $10 million valuation. Mark Cuban and Kevin Hart were the sharks interested in the deal.
However, in the end, The Transformation Factory agreed to a deal of $600,000 for 20% equity, which implied a $3 million valuation.
The Transformation Factory, a company that creates a weight loss gel made from Irish Sea Moss, was featured on Shark Tank in 2022.
The valuation of the company during the show was $10 million, but this was later updated to $3 million by the Sharks. Kevin Hart and Mark Cuban invested $500K in The Transformation Factory for 20% equity.
What Is Transformation Factory Shark Tank And Who Founded Transformation Factory Shark Tank?
The Transformation Factory is a black-owned business that offers natural and healthy sea moss products to help people become the best version of themselves.
The founder of The Transformation Factory is Alexiou Gibson, an entrepreneur and motivational speaker.
Gibson started the company after nurses started coming to him for his nutrient-rich super moss gel. He created sea moss gels that are vegan, paleo, and keto-friendly, containing 92 of the body’s 102 essential minerals.
The Transformation Factory appeared on the season 13 finale of ABC’s Shark Tank and secured a deal for $600k from Mark Cuban and Kevin Hart to expand their sea moss health supplement product.
The Transformation Factory is the first brand to feature sea moss in Shark Tank history and is the only brand to receive a deal on the season finale. After 11 months in business in his online store, The Transformation Factory has $3.5 million in sales.
What Happened To Transformation Factory At Shark Tank?
The Transformation Factory appeared on Shark Tank seeking $500,000 for 5% of the business. The founder, Alexiou Gibson, explained how he found sea moss and started his business. The Sharks tried samples of the sea moss gels and liked them.
Kevin O’Leary and Barbara Corcoran made initial offers that were turned down in favor of a dual offer from Kevin Hart and Mark Cuban for $600,000. By October 2022, Kevin Hart and Mark Cuban closed the deal.
As of February 2023, The Transformation Factory had an estimated sales figure of $4 million.
According to online reports, the deal with Kevin Hart and Mark Cuban is one of the most successful deals on Shark Tank. The company attracted more customers after appearing on the show.
What Happened To Transformation Factory After Shark Tank?
The Transformation Factory is a company that appeared on Shark Tank seeking $500,000 for 5% equity. The company produces sea moss gels and was already profitable before appearing on the show.
Kevin Hart and Mark Cuban invested $500,000 in the company for 20% equity. As of February 2023, the company’s estimated sales for 2022 were $4 million.
After appearing on Shark Tank, The Transformation Factory continued to grow its business.
In the summer of 2022, the company ran a summer internship program in Riviera Beach, Florida for middle and high schoolers teaching e-commerce. The deal with Kevin Hart and Mark Cuban closed by October 2022.
According to online reports, the deal is one of the most successful deals on Shark Tank and has attracted more customers to the company after the show aired.
In summary, The Transformation Factory received an investment from Kevin Hart and Mark Cuban after appearing on Shark Tank. The company continued to grow its business by running a summer internship program and had estimated sales of $4 million in 2022.
Is Transformation Factory Still In Business?
Yes, The Transformation Factory (TTF) is still in business as of January/February 2023.
According to reports, the company closed a deal with Kevin Hart and Mark Cuban in October 2022. As of February 2023, TTF’s estimated sales for 2022 were $4 million.
The company has a good sales rate with a profit margin of 35%. In its first 11 months of business, TTF had $3.5 million in sales. The company is worth around $3.85 million in 2023.
It seems that TTF has experienced an uptick in sales after appearing on Shark Tank. However, much information about the company’s sales after the show has not been available.