Why did Mark Cuban invest in How to be a Redhead? Billionaire 'Shark Tank' investor closes $350K deal over Kevin O'Leary
LOS ANGELES, CALIFORNIA: How to be a Redhead, founded by sisters Adrienne and Stephanie Vendetti, has carved out a distinct niche for itself by catering exclusively to redheads. In the most recent episode of 'Shark Tank', the sisters chose Mark Cuban over Kevin O'Leary when it came to reeling in a Shark for their firm.
Adrienne and Stephanie joined the Tank and requested $350,000 for 10 per cent equity from the Sharks.
It offers fashion and cosmetic items for redheads. They also told the Sharks that there are over 157 million redheads around the globe.
Mark was intrigued by the firm since he claims his two brothers are also Redheads. Lori Greiner stated that this is not the correct investment for her and has thus refused to make a deal.
Robert Herjavec stated that while he loves the brand, this is not the appropriate company for him, so he didn't want to invest either. Barbara Corcoran stated that this firm does not need any Sharks, so she is also out.
Kevin loved the invention and offered $350,000 for 10 per cent stock and a $2.5 royalty on each product until his money was repaid, at which point the perpetuity rate would be $1. Meanwhile, Mark offered $350,000 for 15 per cent equity. The founders appreciated Mark's idea and accepted it.
Who are Mark Cuban's brothers?
Growing up in Pittsburgh, Mark, who is three years older than Brian Cuban, was outspoken and enterprising, but Jeff Cuban, who is 13 years younger, was a nationally recognized wrestler. Brian, in contrast, was quiet, introverted, overweight (for which he was ridiculed), and tended to absorb every bad idea he had.
Jeff is Mark Cuban Companies Entertainment's COO.
Brian is an American lawyer, author, speaker, and activist. He is an expert in male eating problems, drug addiction, rehabilitation, and alcoholism.
How to Be a Redhead building their brand through social media
Given Adrienne and Stephanie's emphasis on disseminating knowledge about self-care for redheads, it's no surprise that their company's website and social media platforms are full of articles and videos about the subject. How to be a Redhead has over 181K social media followers, and their YouTube channel has over 7K subscribers.
On TikTok, the brand has almost 42,000 followers. These impressive figures demonstrate how well their content is appreciated by individuals all across the world.
How to Be a Redhead sells accessories and clothing besides cosmetic products
How to be a Redhead's offerings include a wide range of cosmetic items designed specifically for people with red hair. They provide transparent brown gels in a variety of hues, with prices ranging from $24.99 to $30.00.
While their mascaras cost $30.00, the lipstick (Finally Bold - Lipsticks for Redheads) costs $26.00. Their haircare products include the Finally Glossy Shine and Luminosity Shampoo for Redheads for $32.00 and the Soft Microfiber Hair Towel for Redheads for $48.00.
In addition, the firm provides a range of accessories and wardrobe alternatives.
'Shark Tank' Season 15 airs Fridays on ABC at 8 pm ET.
For those who missed the episode, it will be available on demand the following day and on Hulu. Additionally, viewers can explore past seasons and episodes on Amazon Prime Video and iTunes.