Seven years ago, Dawn Myers saw Lori Greiner invest in a woman-owned hair company on ABC's " Shark Tank ."
She felt inspired, and started her own hair company catering to curls and coils. Today, Myers is the founder and CEO of Washington D.C.-based The Most, a parent company for brands Richualist and The Most Curls. And on Friday's episode of the show, she snagged a six-figure investment offer of her own.
"I ended up selling my home," she said. "I eventually would liquidate my 401(k) so that we could build this product."
Myers, a lawyer by training, said her lack of beauty, tech and engineering experience made it hard to attract investors.
The show's investor judges were inspired by Myers' backstory, but had two qualms, they said: the product's price and Myers' vision for it.
Myers said the price was so high because she only had 100 units of product, which cost $120 per unit to make. But she'd found a way to cut manufacturing costs in half, and planned to cut The Mint's price tag correspondingly, she said.
"It's a bloody distraction," Grede said. "[The Mint] should be what you're talking about. You need to get out there and establish that this is the thing for curly hair ... I just don't feel like you should muddy the waters at this early stage."
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