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What happened to Richualist on Shark Tank?
During her appearance on “Shark Tank,” Dawn Myers hoped to catch a shark with her hair-raising idea. She asked for $150,000 for 10% equity and talked about the long road that brought her onto the show. She explained that it cost her over $1 million to create The Mint, with some of the funds coming from her selling her home, cashing in her 401(k), and attaining some venture funding.
Though the sharks appeared impressed, some of them were concerned about the high price tag of The Mint, which at the time retailed for $400. Myers said that she sold out of her first 100 units, which cost her $120 to make per unit, according to the show’s blog. To show how in demand her product is, she noted that she was in talks to collaborate with Procter and Gamble, as well as L’Oréal.
Kevin O’Leary joked that Myers should work with a shark with hair, so he dropped out. Lori Greiner admitted that she was in the process of creating her own hair product, which could be a conflict of interest. But it was Emma Grede, co-founder of Good American, and Mark Cuban that would make a deal with Myers for $150,000 for 15% equity, plus 5% advisory shares.
What happed to Richualist after Shark Tank?
Dawn Myers told the “Shark Tank” blog that since appearing on the show, revenue had increased, but admitted that Richualist was in a “tough position.” She explained, “we have tricky logistics, a nice product, long wait times, and product back order.” Myers added that though these issues made for a “tough sell,” they continue to bring in business.
Myers had even taken to the company’s Instagram, which has over 4.5K followers, to apologize for the shipping delays in October 2024. In the post, she offered a $25 discount, free shipping, and a complimentary wash day toolkit.
Richualist also received $50,000 from Amika, a haircare company, through its “Rooted in Growth” program, which aims to provide mentorship and grants toward professional hair brand founders to create a more inclusive industry. The Mint tool has also been featured in ESSENCE Magazine, Byrdie, ABC, NBC and more.
