Whatever Happened To CurlMix After Shark Tank?

CurlMix has devised a refreshing new way for people to care for their hair. The company produces a line of hair care items made specifically for curly-haired individuals. What makes CurlMix stand out from the crowd is the infusion of flaxseed gel into its products, an organic solution that keeps hair maintained for up to a week.

The business was started by high school sweethearts Kimberly and Tim Lewis. The idea for CurlMix originated as an app called "Natural Hair Academy," which got funded after Tim won $100,000 from appearing on the game show "Who Wants to be a Millionaire?" The app didn't see much traction and was ultimately shut down, but it nonetheless paved the way for the business that was soon to be. 

Seeing the organic cookie company, Scratch and Grain, on "Shark Tank" got Kim thinking once more about her endeavors in the natural hair space. The couple initially launched CurlMix as a DIY subscription box service which saw some decent growth, but was still falling low on margins. The team chose to push the flaxseed gel as their flagship product, which many discouraged given the difficulty of preserving the ingredient. Kim was nevertheless determined and after experimenting with numerous batches while seven months pregnant, CurlMix was born. 

In less than an hour of putting up CurlMix's first batch for pre-orders, the product sold out. Eventually, the team received further assistance from investors such as Backstage Capital founder Arlan Hamiliton and former LinkedIn CEO Jeff Weiner, helping the company secure manufacturing space and machinery. By spring 2018, friends and family were recommending the couple to apply for "Shark Tank," resulting in CurlMix's "Shark Tank" Season 10 appearance.

The CurlMix team consisting of Kim and Tim Lewis appear on "Shark Tank" asking for $400,000 in exchange for 10% equity. Not all the sharks understand the hair industry. Both Robert Herjavec and Mark Cuban have a hard time discerning between undone frizzy hair and hair that has product applied to it. Guest shark Alli Webb explains the demand for natural curly hair-specific products to them. 

Kim and Tim share that they've developed a method to scale flaxseed gel production and have made $400,000 within the last nine months. The company is on track to hit $1 million and will have $180,000 in profits by year's end. Their products sell for anywhere between $25 and $28 and only cost $3 to make. With the investment, the team aims to amp up inventory, cut costs in half, and bring in new equipment in an effort to amp up production and meet increased demand. 

Even with such success, most of the sharks hesitate with investing. Mark Cuban admits to not knowing anything about the industry, while Kevin O'Leary and Lori Greiner see too much competition. Webb appears to be ready to make an offer, praising the team while commenting on the need within the market for what they offer. However, she similarly feels that the space is too crowded and goes out. Robert Herjavec, despite knowing little about the space, likes the entrepreneurs enough to make an offer for $400,000 for a 20% stake. The couple try negotiating, but Herjavec won't budge. At the end, the team rejects his offer and leave the tank empty-handed.

It came as surprise to some "Shark Tank" viewers when the dynamic duo behind CurlMix walked away from Robert Herjvaec's near half million offer. Ultimately, the team not only knew their worth, but felt that Herjavec wouldn't have been the right partner. "Going into the tank, we felt like our numbers commanded a $7 million valuation, but we offered a $4 million valuation and Robert's offer was a $2 million valuation," Kim explained in an interview with The Jam TV Show. "If you watched the episode, you can tell Robert really didn't know anything about curly hair." Tim stated that they would have gone with the offer had Lori Greiner or Alli Webb made the proposition.

Over the course of March 2019, the same month as CurlMix's "Shark Tank" episode airing, the "Shark Tank" effect hit the company with $900,000 in sales. When former LinkedIn CEO and angel investor Jeff Weiner caught wind of CurlMix's newfound success, he quickly got involved. The investor managed to raise $1.2 million in a seed round funds at a $12 million valuation — three times the money and six times the valuation Herjavec offered. The incredible feat made Kim one of fewer than 40 Black women at the time to have raised more than $1 million for their business. 

In April 2021, the company started a crowdfunding equity campaign under WeFunder, which hit $1 million only four hours into its launch. By December, the campaign brought in over $4.5 million from nearly 7,00 backers, making CurlMix the first ever curly hair business to be both Black and community-owned. The additional resources were used to open a new 30,000 square foot production facility in Chicago.

CurlMix is on its way to becoming a new dominator within the hair care industry. The company offers a wide variety of products available to choose from, including shampoos, conditioners, growth serums, moisturizers, refresher sprays, and more, all of which can be found on its website and Amazon store. Curly haired customers can even buy a four-step "Wash and Go System" set consisting of a shampoo, conditioner, moisturizer, and gel available in different kit options depending on how well your hair holds moisture. 

The company recently took a huge step forward by entering into the retail space. In early September, the team announced that CurlMix would be available in Ulta Beauty stores starting on September 22. The launch seems to have gone well, as CurlMix's products are now readily available at Ulta and users can track down store locations on CurlMix's website. 

The business' fast-rising success has not gone unnoticed. Inc. placed CurlMix at 93 in its Top 500 Fastest-Growing Companies list in 2021. Other outlets have also not shied away from talking about CurlMix, such as Oprah's Favorite Things List,  Crain's Chicago Business' 20 In Their 20s list, and Forbes 30 under 30. The company estimates a net worth of $30 million and currently brings in $10 million in annual revenue. 

The sky seems to be the limit for CurlMix. The brand has gone far and wide since appearing on "Shark Tank" and there's yet to be any sign of slowing down. Along with creating CurlMix, Kimberly Lewis also runs its parent company, Listener Brands, which includes similar businesses such as 4COnly. As Lewis explains on her personal website, the team foresees Listener growing to match or succeed the achievements of corporations such as Procter and Gamble, who own such notable brands as Tide, Gain, Bounty, and more. 

Before getting to this point, Lewis and company have some major milestones to check off. On a LinkedIn post, Lewis shared her vision for 2024, including plans to hit $40 million in annual revenue, expanding their manufacturing space, and creating 100 new jobs. Doing so, she not only hopes to have CurlMix become the first Black-owned beauty business to be publicly traded, but also wants to introduce more opportunities for historically marginalized groups and communities within the Chicago area. With skyrocketing growth and a loyal community behind it, if any company has a chance of reaching such goals, its CurlMix.