Chicago CurlMix Couple Raise Over $5 Million After Turning Down ‘Shark Tank’ Offer

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Kane Dane
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CurlMix Tim and Kim Lewis

(Picture Credit score: CurlMix)


In lower than 60 days, CurlMix founders Kim and Tim Lewis have raised over $5 million in fairness crowdfunding.

The husband-and-wife duo turned to their supporters after rejecting a Shark Tank supply in 2019. Now, the couple is on observe to achieve ranges that few corporations have achieved within the fairness crowdfunding area.

“We’re democratizing the flexibility to speculate by permitting our group to personal a chunk of the pie and give you us,” says Kim Lewis, CEO of CurlMix, on LinkedIn. “That is revolutionary in that no different black-owned magnificence model has ever finished this. None. This isn’t a donation. It’s an funding.”

She continues, “By the 12 months 2024, we anticipate to have $40M in annual income. We plan to create 100 jobs and procure a producing facility in an underserved minority group, proper right here in Chicago. We plan to construct the primary, publicly commerce black-owned magnificence conglomerate and hopefully be traded on the inventory NYSE in the future, like Procter & Gamble.”

CurlMix Goes From Shark Tank to Fairness Crowdfunding

Kim and Tim Lewis garnered nationwide consideration in 2019. The couple determined to make an look on ABC’s hit present Shark Tank to develop their magnificence enterprise. Canadian investor Robert Herjavec was able to make a deal. He supplied $400,000 in trade for a 20 % stake within the CurlMix model.

CurlMix, a DIY subscription field turned pure hair care line, was based in 2015.  After a few years of stagnant gross sales, the couple revamped their enterprise mannequin. Twelve months later, they reached $1 million in gross sales. That’s when Kim and Tim offered their compelling pitch to the Sharks, leaving Herjavec prepared to leap in and seize future earnings. Nevertheless, the couple rejected the supply. They agreed they wouldn’t hand over greater than 15 % of their enterprise.

 “Now we have absolute confidence in ourselves and our imaginative and prescient for our firm, so having a Shark on the aspect would have simply been icing on prime of the cake. Going into the negotiations we had already discounted our price with the intention to be extra interesting to the Sharks, however to have Robert lower that in half after saying he didn’t know something in regards to the trade made the choice a no brainer,” Kim shared with Black Enterprise.

The couple proves that believing in your small business, understanding your worth, and catering to the wants of your prospects pays off in the long term. Two years after their Shark Tank look, the CurlMix founders are actually elevating tens of millions from fairness crowdfunding.

CurlMix Prospects Spend money on the Model

On April 6, 2023, Kim and Tim launched their fairness crowdfunding marketing campaign for CurlMix. In lower than 4 hours, the corporate raised its first $1 million. Throughout the first 30 days, the corporate surpassed the $3 million mark. Now, the corporate is on observe to turn out to be one of the vital profitable beauty-based fairness crowdfunding campaigns. Within the final 60 days, over 8,000 buyers have invested over $5 million by means of the Wefunder crowdfunding website.

“Anytime you’ve a group backing you and they’re hyped about [your brand], what you might be doing will probably be profitable,” says Kim.


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