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Kevin O’Leary was ready to invest, but this college dropout followed his gut—and now he’s making millions

After declining a deal on 'Shark Tank', this young entrepreneur scaled his eco-conscious lip care company to $4M in sales

The high-stakes stage of 'Shark Tank' not only offers budding businesses a chance to change their fate but also the opportunity to partner with some of the biggest names in business. While most of the participants on the show will try their level best to secure a deal with a Shark, there was a college dropout who made a shocking decision to reject Mr. Wonderful, aka Kevin O'Leary's offer. To add more, this young entrepreneur's story and success left even the Sharks in awe of him. 

A young entrepreneur, Kobe Harris, pitched his company 'Kobee’s Co.' on 'Shark Tank,' seeking $300,000 for 6% equity. The business, known for its all-natural lip balm made from beeswax and plant oils, was started by Harris during his freshman year of college, as per Market Realist. Using just $200 from his mother, Harris made lip balm in his dorm room and handed it out while working as a lifeguard. The product quickly gained popularity, leading him to drop out of school and grow the brand into a full skincare line.

Harris also shared how his daily sales jumped from $3,000 to $15,000, leading him to fully commit to his business. He secretly dropped out of college, telling his dad he was still enrolled while making lip balm in the basement. By the time of the 'Shark Tank' taping, Harris had made over $800,000 in the previous year and more than $1.5 million year-to-date. However, despite impressing the sharks with both his story and sales, only one shark made him an offer. Harris received a $300,000 offer from O’Leary for 20% equity, later reduced to 15%, but he declined both offers, saying he wasn’t willing to give up that much of his company.

After appearing on 'Shark Tank,' Harris capitalized on the exposure by boosting online marketing, including short YouTube videos about his brand's origin, per Women. As of 2024, the company was projected to hit $4 million in sales. In addition, 'Kobee’s Lip Balm' has since expanded its product line, offering flavored lip balms, lip scrubs, hand salves, and bundles on Amazon. Harris also built a strong social media presence for the business, with a vibrant website and engaging content across platforms, especially TikTok, where the brand has over 200,000 followers.

The company also shares product updates and seasonal launches, such as limited-edition fall flavors, showing a clear understanding of how vital social media is for modern business growth. Notably, known for his eco-conscious approach, Harris also uses his platform not just to promote his all-natural lip balm but also to educate others about environmental issues. In a pinned Instagram video, he expresses frustration with companies using harmful ingredients and misleading consumers, saying he's "sick of all the plastic and bad ingredients." In another post, he dives into the environmental and health risks of petroleum jelly, a common product in mainstream lip care.

But Harris isn’t just talking, as he is also taking action. Reportedly, 'Kobee’s Lip Balm' donates a portion of its profits to respected environmental nonprofits, including One Tree Planted, The Alliance for the Great Lakes, and Our Children’s Earth Foundation. His mission is simple and clear: to create clean, safe products and drive real change through education and philanthropy.