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In episode 6 of Shark Tank, viewers will receive an update on Curie, a clean deodorant and body care product in which Mark Cuban and Barbara Corcoran invested. The synopsis of the upcoming episode reads:
"In a “Shark Tank” update, Sarah Moret from Santa Monica, California, and her investors Mark Cuban and Barbara Corcoran update us on Curie, her aluminum-free deodorant and natural product line."
The unscripted show will air its sixth episode on Friday, November 11, 2022, at 8 pm ET on ABC.
All about Shark Tank’s Mark Cuban and Barbara Corcoran-invested business Curie
Founder Sarah Moret appeared in Shark Tank episode 15 of season 13 with her clean deodorant brand, Curie Deodorant, which is free of aluminum and other chemicals. Sharks on the show were highly impressed by the natural fruity scent of the deodorant.
At the time, Sarah asked for $300,000 in exchange for 5% equity in her company from the investors to expand her company. The deal was at last finalized at $300,000 for 10% + 4% advisory shares. Both Mark Cuban and Barbara agreed to invest in the product.
Post the deal on the show, the sale of Curie skyrocketed. In one of her Instagram videos, Sarah mentioned that after Shark Tank aired, all her products "sold out." The company reportedly did "more sales in that one night" than it did in its "entire first year of business." To meet the demand, she and her team apparently hustled to get a stack in stock as quickly as possible.
The company is now back in stock on Amazon and on its website. Curie was available in over 400 stores nationwide by October 2022.
Curie, which was launched in 2018, generated revenues of $125,000 in its first year of selling deodorant sticks. The following year, the brand had $700,000 in sales.
In 2020, she raised $1 million through a convertible note capped at $5 million to expand the brand by offering other products, including masks, hydrating hand sanitizer, body oil, deodorant, body wash, and candles.
Before appearing on Shark Tank, Curie’s body products were already sold in over 300 stores nationwide, including the fitness gym Soulcycle, Nordstrom, and Anthropologie. It had also appeared frequently on the shopping network QVC.
Sarah Moret’s Shark Tank journey
Sarah Moret first applied for Shark Tank in 2020 but didn't receive a callback. She reapplied for the show the following year, but was told that she "would get a phone call if there was space in the schedule for me [her] to film."
Last September, Sarah was hiking through Griffith Observatory when she received a message from Shark Tank’s producer. They said that she had just two hours to get to the studio and pitch her product, Curie, in front of Lori Greiner, Barbara Corcoran, Mark Cuban, Daymond John, and Kevin O'Leary.
Excited, Sarah immediately "jumped in the car," and her fiancé drove her "home as fast as possible in the carpool lane." She told dot.LA:
"I curled my hair, got ready in 20 minutes and did my makeup in the passenger seat of his car for a primetime TV show."
Sarah was the first one up to pitch on the show. She entered Shark Tank with her eyes set on Barbara and Greiner and was keen on striking a deal with one or both of the investor judges as she "just gravitated towards female investors or founders."
Although she impressed the Sharks with her background as an associate at Santa Monica-based venture capital firm Crosscut Ventures, her opening pitch for a $300,000 investment in exchange for a 5% equity stake left four out of the five Sharks unimpressed. However, Daymond offered $300,000 for 20% equity, which Sarah declined, saying:
“I know my worth, I know the company's worth and I'm not backing down.”
After Sarah countered with $300,000 for 12% equity, Mark and Barbara combined on an offer of $300,000 in exchange for 14% equity, which she happily accepted. After the deal, Mark quipped:
“I never thought I would be in a women’s deodorant business, ever.”
After the deal, her business experienced exponential growth. Tune in to ABC on Friday to watch the Curie update on Shark Tank.
