'I Sold My Home And Liquidated My 401(k)': Entrepreneur Snags $150K Shark Tank Deal After Beating Stage 3 Cancer And Raising $1.1M

Dawn Myers stood in front of the Shark Tank panel with nerves of steel and a product years in the making. The founder and CEO of The Most, a parent company to Richualist and The Most Curls brands, pitched The Mint, a $400 thermal hair infuser aimed at the textured hair care market, a segment now booming with innovation. 

What started as an idea sparked seven years ago while watching Lori Greiner invest in another woman-owned hair company on the show came full circle as Myers secured a six-figure deal of her own.

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The numbers tell a powerful story. According to Mordor Intelligence, the hair care industry continues to grow globally. It's projected to hit $107.31 billion by 2029, growing at a CAGR of 3.40% during the forecast period.

In the United States alone, it's expected to reach $19.87 billion in the next five years as consumers increasingly demand personalized, high-tech solutions for diverse hair types. Myers saw the gap early. 

The Mint, which detangles and distributes heated conditioners and gels evenly through curls and coils, solves an overlooked problem – and investors took notice.

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But Myers' path to Shark Tank was anything but easy. "I ended up selling my home," she shared with the investors, adding, "I eventually would liquidate my 401(k) so that we could build this product." 

With no background in tech, engineering or the beauty industry, she faced skepticism at every turn. Myers spent five years perfecting The Mint, but her journey was further tested in 2022 when she was diagnosed with stage three colon cancer. 

Still, Myers didn't stop. A spokesperson for Richualist told CNBC Make It that she raised $1.1 million in venture capital while undergoing surgeries and chemotherapy.

During her pitch, Myers sought $150,000 for a 10% stake in her product, which uses coffee pod-like cartridges priced at $6 each or $36 for a monthly six-pack subscription. She explained the steep price point, noting her current manufacturing costs were $120 per unit due to a limited production run of just 100 units. 

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However, Myers revealed she'd found a way to cut those costs in half and promised to lower The Mint's price accordingly. While the panel praised her resilience and ingenuity, Mark Cuban and Emma Grede challenged her strategy. 

Myers revealed discussions with Procter & Gamble and L'Oréal about co-branding the pods, but both investors cautioned against splitting focus so early. "It's a bloody distraction," Grede said bluntly. Cuban agreed: "When you are disrupting an industry, focus on the disruption."

Lori Greiner, Kevin O'Leary and Robert Herjavec declined to invest – O'Leary jokingly blamed his baldness, while Greiner cited prior commitments. But Cuban and Grede weren't ready to walk away. 

Together, they offered Myers $150,000 for 20% equity. Protecting her existing investors, Myers hesitated until they sweetened the deal to $150,000 for 15% equity plus 5% in advisory shares.

Myers accepted and turned to Greiner, who had inspired her entrepreneurial leap. "Thank you for seeing women's innovations," Myers said, visibly emotional.

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