In an exciting development for the haircare industry, Dawn Myers, the visionary founder behind Richualist, has secured a significant investment from renowned entrepreneurs Mark Cuban and Emma Grede during her appearance on ABC’s hit show “Shark Tank.”
The episode, which aired on Friday, April 5, showcased Myers’ innovative hair tool, The Mint, designed specifically to cater to the needs of curly and coily hair types.
Seeking a $150,000 investment in exchange for a 10% stake in her company, Myers impressed the panel of investors with her passion and commitment to revolutionizing the hair styling experience for individuals with highly textured hair.
The Mint, a patented three-in-one styling system, features six attachments aimed at detangling and styling all hair types, with a particular focus on curly to coily hair classified as 3A to 4C.
Utilizing advanced technology, The Mint warms liquid hair products to optimal temperatures for deeper penetration into the scalp, promising faster, easier, and healthier styling results.
During her pitch, Myers shared her journey of dedication and sacrifice, including selling her home and liquidating her 401(k) retirement savings to fund the development of The Mint.
Despite facing numerous challenges along the way, including securing venture capital backing and participating in accelerators and pitch competitions, Myers remained steadfast in her pursuit of bringing her vision to life.
Ultimately, Myers’ hard work and determination paid off as she captured the attention and investment of Mark Cuban and Emma Grede.
The pair agreed to invest $150,000 in exchange for a 15% stake in the company, along with an additional 5% stake through advisory shares, recognizing the potential of The Mint to revolutionize the haircare industry.
Reflecting on her success, Myers expressed gratitude for the opportunity to showcase her product on “Shark Tank” and emphasized the importance of staying true to one’s strengths and vision as a founder.
With the support of Cuban, Grede, and her growing team, Myers is poised to continue driving growth and realizing her billion-dollar vision for Richualist.
As Myers embarks on this new chapter, the haircare industry eagerly anticipates the transformative impact of The Mint and Richualist’s innovative approach to styling and caring for textured hair.
This exciting investment marks a significant milestone for Dawn Myers and Richualist as it will propel them towards even greater success!
