Mark Cuban And Emma Grede Invest $150K In Black Woman’s Innovative Tool For Textured Hair
Richualist founder Dawn Myers has secured investment from business figures Mark Cuban and Emma Grede on Shark Tank for her hair tool for textured hair.
The washday styling tool
Myers’ product, The Mint, is designed to detangle, condition, and style curly to coily hair types (classified as 3A to 4C).
The hair tool includes six attachments and is designed to simplify and enhance styling.
The technology used heats liquid hair products to optimize their effectiveness, addressing the often complicated and time-consuming nature of managing highly textured hair.
“You simply load your pod; think of them as coffee pods except for your styling products,” Myers told the Shark Tank judges.
“And you let the mint gently warm and condition your products. That’s where the magic happens. Then you streamline the detangling and applying your liquid products to get the easiest, fastest, most juicy curls of your life.”
The Shark Tank Investments
The development of The Mint required a lot of personal investment, including Myers selling a home and liquidating her retirement savings.
Her efforts and risks paid off when she secured $1 million in venture capital backing in 2022, maintaining a 72% stake in her company.
On “Shark Tank,” Myers asked for a $150,000 investment for a 10% stake in her company.
Impressed by her idea and commitment, Cuban and Grede offered $150,000 for a 15% stake and a 5% stake through advisory shares.
“Shark Tank’ is a HUGE deal, and getting a deal from Mark and Emma is AMAZING, but the biggest takeaway is that there is no one way to drive growth,” Myers told AfroTech.
“This has been such a great moment for joy and celebration, but now it’s time to get to work growing this momentum and building out the billion-dollar vision in my head.”
Featured image credit: ABC
