Update: CurlMix founders Kim and Tim Lewis went into the Shark Tank asking for $400,000 for 10% equity. They got an offer from longtime Shark Robert Herjavec, who said he'd invest $400,000 at 20%. After some deliberation, the CurlMix founders declined, leaving the Tank without a deal.
Original story below.
CurlMix, a company making beauty products for women with curly hair, is the latest Chicago startup to land an appearance on ABC’s Shark Tank.
The startup's episode is slated to air this Sunday, March 3 at 9 p.m. CT. To celebrate, CurlMix is hosting a viewing party that will double as a pop-up shop so that attendees can purchase the startup’s products.
CurlMix, founded by husband and wife duo Kim and Tim Lewis in 2013, calls itself a “clean beauty brand” because all of their products feature 12 ingredients or less and include natural oils from flaxseeds, grape seeds, aloe vera and avocado.
The brand uses a four-step system that helps curly-haired women “achieve the wash and go of their dreams,” the company says.
CurlMix, which began as a subscription box service for curly-haired people, sells its products on its website and Amazon. One of the startup’s most effective forms of advertising has been Kim’s weekly hair tutorials using CurlMix products that she posts on social media.
The founders, who both attended the University of Illinois at Urbana-Champaign, said they did $1 million in sales last year. The startup, which has its offices and manufacturing facilities at Chicago’s ICNC Incubator, employs about 25 people. Kim was also in the fourth cohort of WiSTEM, 1871's startup accelerator for female entrepreneurs.
CurlMix wouldn't disclose if the company landed money from the Sharks, but the exposure from appearing on the show can be a boost for many businesses regardless of whether a deal is struck. Several other Chicago-based startups have appeared on Shark Tank, including Pearachute, Packback and LuminAID.
