The new season of “Shark Tank” is here, and it's a great time to revisit some of the best Black success stories from the show. Even if they didn’t get a deal from the sharks, all of these entrepreneurs went on to have great success. In a recent interview with The Root, Daymond John, one of the few Black sharks on the show, shared, “The Sharks are only judging if [the business] is good for them. If you come on and you have a product I don’t necessarily think I can help or am just not passionate about, that just means it’s not right for me. That doesn’t mean it’s a bad business.” The Fubu creator said the bigger judge is the public. “There are people who the next morning will decide we’re idiots and buy the product anyway. Then all of a sudden the person has $100,000 worth of new orders and they didn’t have to give up any of their company.
Here are some inspiring stories of Nigerian and African diaspora entrepreneurs who have graced the Shark Tank stage:
Success Stories of Nigerian Shark Tank Entrepreneurs
Kelechi Anyadiegwu - Zuvaa
Kelechi Anyadiegwu, a Nigerian-American entrepreneur, is the CEO and founder of Zuvaa. She appeared on Shark Tank seeking $460,000 for a 10% stake in her company. What impressed the sharks most was how she had turned an initial investment of $500 into more than $2 million in sales in less than two years.
Zuvaa is a fast-growing online marketplace for global designs, particularly those associated with African culture. The marketplace brings together over 85 handpicked designers who are located in different countries across Africa. Once a customer places an order, the items are shipped from the designer or from Zuvaa’s fulfillment center in Atlanta, Georgia, to the customer.
In the end, Kevin O’Leary offered her a $460,000 loan at 12% interest for 10% equity. This deal didn’t appeal to Anyadiegwu hence, she declined the offer.
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Just like the judges on shark tank, you’ll immediately fall in love with Zuvaa’s designs. They are exquisite, elegant and filled with color and prints. The site doesn’t only deal with clothes. You can also find jewelry, head wraps, shoes, hats, handbags and more. All products on Zuvaa are characterized by the same outstanding qualities; vibrant colors, African culture and unique taste. Each designer has their own way of creating their products thus creating a wide range of designs to choose from.
After appearing on shark tank, the progress of Zuvaa is not clear. Some designers affiliated with it claim that they had not been paid their wages even after successfully delivering the products. Hopefully, Kelechi Anyadiegwu will continue perfecting her ideas, her brand and her business to make it a massive success. In February, 2020, she rebranded the business to Uju Media and said the site would be up and running in 2021. As of November, 2022, the new site is promoting 3 clothing brands. By February, 2023, the company added a home decor brand.
Christina Funke Tegbe - 54 Thrones
Christina Funke Tegbe discovered an awesome way to be proud of her Nigerian heritage. Her company, 54 Thrones, sells self-care products and is sold at Sephora stores across the country. She made an appearance on the show in season 13 and was able to successfully negotiate a deal with O’Leary and guest judge Nirav Tolia.
Dawn Myers - Richualist
Based in the “Chocolate City,” Dawn Myers made her appearance on “Shark Tank” in season 15. As the founder and owner of Richualist, Myers pitched a thermal hair infuser that would help Black women with curly hair. She ultimately locked down a deal with Mark Cuban and guest shark Emma Grede for $150,000 and 15% equity.
Other Notable Entrepreneurs
Here's a list of other entrepreneurs who appeared on the show:
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- Ashley Jones: Tones of Melanin, which sells licensed clothing for HBCUs.
- Christopher Gray: Scholly, an application that recommends scholarships to students.
- Renaldo Webb: PetPlate, a subscription-based dog food service.
- Tyla-Simone Crayton: Sienna Sauce, a signature sauce company.
- Selom Agbitor and Oliver Zak: Mad Rabbit, which sells products that help heal and protect tattoos.
- Lola Ogden: Beddley, which creates comfortable duvet covers.
- Manuel and Geiszel Godoy: Black Sands Entertainment, which publishes comic books that inspire the culture and include the history of Africa and its people.
- Melissa Butler: The Lip Bar, which sells vegan beauty products.
- Noel Durity: Twist It Up, an innovative product for hair.
- Yve-Car Momperousse and Stéphane Jean-Baptiste: Kreyól Essence, a natural hair oil company.
- Cedric Cobb: Best Wardrobe Solutions, which gives men an easy way to “hold the fold” of any handkerchief or pocket square.
- Tania Speaks: Tania Speaks Organic Skincare.
- Joshua Esnard: The Cut Buddy, which makes it easier for anyone to give themselves a haircut.
- Philomina Kane: KIN Apparel, which sells a variety of satin-lined products that will protect your hair anywhere.
- Seneca Hampton: Hampton Adams, which creates premium athletic tape rolls.
- Raquel Graham: Roq Innovation, which pitched her creative LED beanies.
- Mabel and Shaira Frías: Luna Magic, their goal was to create cosmetics products meant for women with darker skin.
As you can see, many African diaspora founders are pitching on Shark Tank. With this, and knowing the high competitive rate of getting aired on the show (air rate = 0.22%) my data-driven mind kicked into gear. Part of this inspiration comes from Malcolm Gladwell’s analysis in Outliers, where he explores how some immigrant communities can leverage their outsider or minority status to succeed in entrepreneurial ventures.
The Sharks Are Impressed With Zuvaa's Revenue of million! | Shark Tank US | Shark Tank Global
Ladipo Lawani ’08 realized that what he wanted most was to help bring economic development to his home country, Nigeria. He also realized that entrepreneurship was one of the most potent drivers of economic development. By his sophomore year, Lawani had started an NGO in Nigeria to train youth to become entrepreneurs. While there, he founds L&L Foods, a food processing and packaging company focused on the West African market. The company’s primary line of products is a premium brand of nuts called Mr. Ekpa.
The company won the Columbia Business School Shark Tank competition in 2016 (New Venture Competition). The following year, L&L Foods won the Nigerian Economic Summit startup competition.
Unemployment is one of the biggest issues in Nigeria. Knox was an absolute turning point for me. I discovered my passion for entrepreneurship at Knox. This was because Knox did a great job at teaching me how to think critically. I became a lot more intellectually curious and was equipped with the ability to identify patterns and understand contexts and solve problems, which I believe have helped me as an entrepreneur.
These entrepreneurs demonstrate that with passion, innovation, and resilience, success is achievable, even without a deal from the Sharks.
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