CurlMix founders and highschool sweethearts, Tim and Kim Lewis, turned down a $400,000 Shark Tank supply in 2019.
Final month, the couple launched an fairness crowdfunding marketing campaign for his or her haircare model and raised over $1 million inside 4 hours. In lower than seven weeks, CurlMix has raised over $4.2 million.
Over 7,000 buyers have contributed to the Wefunder marketing campaign because it was launched on April sixth. Based on the Wefunder marketing campaign, the couple all the time knew they needed to construct a life and enterprise. Now, they’ve an opportunity to create wealth of their neighborhood due to the Jumpstart Our Enterprise Startups Act (JOBS) Act.
“Once I met Tim, neither of our households had a lot cash however we didn’t care, we figured we might construct collectively,” Kim posted on Instagram. “We needed to be the change and nonetheless do. Investing permits us to construct wealth for ourselves and our neighborhood.”
From Excessive College Sweethearts to Shark Tank
Kim and Tim Lewis have been raised on the south facet of Chicago. They attended Morgan Park Excessive College and have been collectively since they have been 16.
“Once I met Tim in second-period health club class, I didn’t suppose we might construct a multi-million greenback firm that employs our neighborhood and serves ladies of colour,” Kim shared on LinkedIn.
After graduating faculty in 2013, Kim Lewis landed a job making almost six figures. However her imaginative and prescient couldn’t be confined to a cubicle. She give up her job with no financial savings or job lined up, relying solely on her creativity to find out the following steps. That’s when she determined to signal CurlMix co-founder Tim Lewis up for the favored sport present Who Desires to Be a Millionaire. He appeared on the twelfth season of the present and walked away with $100,000. This cash helped the couple fund their first enterprise.
In 2015, CurlMix was born. The model began as a do-it-yourself subscription field and transitioned right into a hair care line for curly hair. After incomes their first $1 million in gross sales in 2018, the couple appeared on ABC’s present Shark Tank. Investor Robert Herjavec provided the couple $400,000 in trade for 20% of the corporate however the numbers didn’t match their expectations.
“Having the dialog about what we have been prepared to simply accept the evening earlier than pitching was like deciding whether or not or to not have kids. We knew that CurlMix could be enormous in the future and we handled every % like 1,000,000 {dollars}. It was a tough dialog. It concerned numbers, feelings, and numerous analysis,” says Lewis.
Couple Turns to Fairness CrowdFunding After Rejecting Shark Tank Supply
Listener Manufacturers, the father or mother firm of CurlMix and 4C ONLY, is giving shoppers an opportunity to unlock generational wealth via their fairness crowdfunding marketing campaign. Though there isn’t any assured return on funding, this chance permits shoppers to get in early and profit from the corporate’s potential progress.
Usually, buyers must be thought of accredited in an effort to make sure investments. However the guidelines round investing in small firms modified in 2012. Obama signed the JOBS Act, making it simpler for firms to boost capital from their neighborhood.
“Many people spend years supporting firms with our hard-earned {dollars}, however we see nothing for it when the model ultimately sells, transferring the wealth outdoors of our neighborhood,” says Listener Manufacturers CEO and Co-Founder, Kim Lewis in a press release. “Our objective is to create alternatives for our neighborhood to extend their wealth. Our imaginative and prescient is to alter the narrative of what possession seems to be like. We goal to turn out to be the primary Black-owned publicly-traded magnificence conglomerate.”
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