Kevin Hart said this ‘Shark Tank’ investment felt like a 'drug deal' — now it's a $45M success story
Known for his comedic talent and high energy, Kevin Hart joined the high-stakes arena of 'Shark Tank' as a guest judge in Season 13. Even in the heated negotiations, Hart remained true to his comedic roots and brought his signature humor to the table. In one such instance, Hart put his money where his heart was, investing in a brand that mirrored his values and dropping a cheeky one-liner along the way. Combining sharp business sense with humor, he joked that the deal "almost felt like a drug deal," making for a funny 'Shark Tank' moment.
The brand was The Transformation Factory, pitched by founder Alexiou Gibson in the Season 13 finale of ‘Shark Tank,’ per Fandom Wire. Gibson asked for $500,000 for 5% equity in his edible sea moss gel brand. While some Sharks were skeptical about consumers paying $25 for an eight-ounce jar, Hart stepped in to explain the product's cultural significance and potential. "This is a culturally driven product, right, in our community, the African American community," Hart said. "This is something being raved about, and we're seeing growth in it."
He continued, "So I've actually purchased it, and it was in a plain jar, and it was like an exclusive buy. It almost felt like a drug deal, I'll be honest." Impressed by the vision and numbers, both Hart and Mark Cuban decided to invest, seeing huge potential in taking the product to retail shelves. Hart, like a true entrepreneur, recognized the value in Gibson's brand but disagreed with his valuation, countering with $500,000 for 20% equity. Barbara Corcoran offered to split the deal, while Kevin O'Leary jumped in with $500,000 for 30%, mentioning his food industry experience.
Gibson countered with $800,000 for 20%. But when Corcoran stepped back due to retail concerns, Cuban stepped in to team up with Hart. They closed the deal at $600,000 for 20%. Notably, Hart wasn’t just impressed by the sales, he was moved by Gibson’s personal transformation. Gibson, weighing over 500 pounds and facing a grim prognosis at 19, transformed his life with healthy habits and sea moss. Hart saw the product's cultural relevance and health impact as a "game-changer."
Following 'Shark Tank,' The Transformation Factory's deal with Hart and Cuban wasn't confirmed immediately. Within three days of the episode airing, the company generated five months' worth of sales. According to Shark Tank Blog, the deal officially closed by October 2022. Gibson launched a summer internship for teens in Riviera Beach and continued expanding.
By February 2023, sales for 2022 were estimated at $4 million, with 2023 on track to surpass that. In November 2023, the company opened its first store in Mangonia Park, Florida, with 2023 revenue matching the previous year at $4 million. As of May 2024, lifetime revenue has reached $45 million, and the estimated net worth of The Transformation Factory is between $3 million and $4 million. Reportedly, Gibson’s personal transformation journey has become central to the brand’s identity.