CurlMix Founders Rejected ‘Shark Tank’ Offer; Raised Over $3.6 Million in Equity CrowdFunding Within 30 Days

CurlMix Founders, Kim and Tim Lewis, turned down a $400,000 ‘Shark Tank’ supply and are actually on observe to make historical past within the fairness crowdfunding house. The couple launched their CurlMix fundraising marketing campaign on April sixth and have already attracted over $3.6 million. Over 6,000 traders have contributed to the Wefunder marketing campaign.

“Anytime you will have a neighborhood backing you and they’re hyped about [your brand], what you might be doing shall be profitable,” Lewis shared throughout an unique interview with Black Enterprise. “I don’t have wealthy individuals [involved] who put in half one million {dollars}. About 90% of our traders have contributed lower than $1,000 so it truly is the individuals which are driving this marketing campaign.”

CurlMix Raised Over $3.6 Million with Fairness Crowdfunding Group Assist

Group members have been instrumental within the success of the marketing campaign, permitting the couple to lift their first $1 million inside 4 hours of launching the marketing campaign. A number of days later, the couple reached the $2 million mark.

“Our clients confirmed up and confirmed out,” says Lewis. “I’ve black enterprise homeowners like Lamar Tyler from Site visitors, Gross sales, and Income who invested and shared it together with his neighborhood.”

In keeping with the WeFunder marketing campaign web page, CurlMix has over 100,000 clients and a burgeoning social media presence. In 2023, the corporate generated $6 million in gross revenues and is on observe to exceed that this 12 months.

“Many people spend years supporting manufacturers with our hard-earned {dollars},” CEO Kim Lewis shared on the Wefunder web page. “However we see nothing for it when the corporate ultimately sells, transferring the wealth outdoors of our neighborhood. I plan to vary that.”

People can put money into CurlMix with as little as $250. This fairness crowdfunding marketing campaign offers people an opportunity to personal fairness within the manufacturers they help to have an opportunity at creating generational wealth.

“Permitting our clients to speculate permits them to take part within the upside,” says Kim. “It additionally offers them a way of possession. For a lot of, it’s their first time investing. They might not have any cash invested in shares or might not have IRAs. Creating traders within the black neighborhood is how you start to construct wealth.”

The Making of CurlMix

CurlMix has been round since 2015. When Co-Founder Tim Lewis hit the $100,000 jackpot on Who Desires To Be a Millionaire in 2013, the couple invested in rising CurlMix. They persistently shared hair movies on social media and determined to launch their DIY subscription enterprise. In 2018, CurlMix modified its enterprise mannequin and turned its subscription bins right into a haircare line. This was the magic bullet to success, permitting the couple to earn $1 million in gross sales in lower than a 12 months.

Kim and Tim’s success landed them a deal on ABC’s Shark Tank. Canadian investor Robert Herjavec’s supplied the couple $400,000 for a 20 % stake within the firm. The couple turned down the Shark Tank supply and turned to their neighborhood for help.

“We are able to’t make any guarantees about your return on funding,” Lewis shared on the WeFunder website. “However we will inform you that we are going to do all the things we will to make this enterprise a hit. We’re all in. Our dream is to IPO and change into the primary black-owned public magnificence conglomerate. This funding will allow us to take important strides in direction of that imaginative and prescient.”

Just lately, the couple shared updates about their journey and future objectives on their Instagram web page.

As with all funding alternative, there isn’t any assured return. Do your due diligence to make sure the funding is smart to your portfolio. For extra data, you possibly can go to WeFunder.com/CurlMix.