Photo: YouTube
In 2019, entrepreneurs Tim and Kim Lewis, the founders and owners of CurlMix, appeared on ABC's Shark Tank and turned down a $400K offer for a 20% equity in their company.
Two years later, the couple launched an equity crowdfunding campaign and raised more than $1.7 million dollars within 24 hours.
The campaign, launched with the support of a popular Facebook group of Black entrepreneurs called Traffic Sales and Profit, gives consumers and other members of the Black community the opportunity to unlock generational wealth. In other words, those that are already spending their dollars on the brand can now invest and aid in the company's future growth in the beauty and wellness industries.
“Many of us spend years supporting companies with our hard-earned dollars, but we see nothing for it when the brand eventually sells, transferring the wealth outside of our community,” says Kim, who is the CEO and Co-Founder. “Our goal is to create opportunities for our community to increase their wealth. Our vision is to change the narrative of what ownership looks like. We aim to become the first Black-owned publicly-traded beauty conglomerate.”
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