CurlMix was founded in 2015 by Kimberly and Timothy Lewis as an organic haircare brand for curly-haired women. Currently, CurlMix offers a full range of organic and handmade hair products that are sold mostly online.
|Product Store on Amazon||CurlMix|
|Founded by||Kimberly and Timothy Lewis|
|Company based on||Organic haircare brand|
|Curlmix net worth||$12 million (Last Updated 2022)|
Curlmix net worth
Following Shark Tank, CurlMix raised $1.2 million from Jeff Weiner, LinkedIn’s founder and CEO. Consequently, CurlMix’s net worth is valued at $12 million, reports Black Enterprise.
The company reports that it has served over 200k customers so far. On the basis of this, we can estimate that the company made six million dollars worth of sales in the previous three years — half of CurlMix’s valuation of $12 million.
Tim Lewis and Kim Lewis are not new to the business world. CurlMix began as a DIY subscription box in 2015, and later evolved into a line of natural hair care products that featured Pure Flaxseed Gel, the brand’s most popular product.
“I was seven months pregnant at the time, in my kitchen working on a recipe for flaxseed gel,” Kim recalled.
CurlMix was reimagined to be seen as a necessity, not as a temporary DIY project, for natural hair care.
“We were getting ready to close the business because we didn’t really grow in our second year,” said Kim.
Based on advice from their advisor, Tim and Kim made the decision to bottle their bestselling subscription boxes and sell them on a pre-order basis. In just a few hours after announcing the upgraded product, the sales surpassed what the company had achieved in its first two years.
“I figured out how to make a batch of 60, but I was like, ‘I’m not going to make a batch and then try to sell it because I know that sometimes things don’t work out or sometimes people don’t actually want it,’– so you’re stuck with all this inventory. So I was like, ‘I’m going to produce pre-orders and if people really want it they’ll buy it before it exists,’ and so we ended up selling hundreds in a matter of hours,” Kim added.
Curlmix Shark Tank Deal
The Lewises have been on the hit ABC show Shark Tank as prime candidates because of their successes as business owners. They prepared like nobody else to take up the opportunity.
“The one thing we did not want to do was embarrass ourselves on national TV, so those four months that we spent preparing for the show was one of the hardest periods in our business. Not only were we growing the business 30% each month, we were raising a new baby, and drilling down on our pitch and questions every night,” Lewis says.
CurlMix succeeded in pitching the Sharks because they were prepared and business savvy. Despite this, they eventually rejected Robert Herjavec’s offer of $400,000 for 20% of the business. Because they never intended to give up more than 15%.
What happened to curlmix after shark tank?
Following its appearance on Shark Tank, the startup was funded with $1.2 million from LinkedIn’s CEO. Other investors also became interested in the company due to its increasing sales. With its aim to reach $10 million in sales, the company is now on the verge of reaching its objective.