Quick Shark Tank Update on Kobee’s Co
- Founder: Kobe Harris
- Shark Tank Appearance: Season 16, Episode 3
- Company Valuation at Shark Tank: $5 million
- Annual Sales: $1.5 million in 2024, projected to reach $3.5-$4 million by the end of the year.
- Product Line: Natural lip balms, lotion bars, hand salves, lip scrubs, cuticle butter, neck butter, and more—all plastic-free and made from sustainable ingredients.
- Current Distribution: Direct-to-consumer through their website and Amazon. No retail presence yet.
Kobe Harris, a college student with a passion for sustainability, founded Kobee’s Co. with the mission to eliminate plastic waste in skincare products.
His all-natural lip balms, made with ingredients like beeswax and mango butter, offer an eco-friendly alternative to conventional skincare.
Kobe’s journey began with a simple DIY project in his dorm room, which quickly grew into a successful business, earning $1.5 million in 2024.
His products, popular for their compostable packaging and clean ingredients, cater to environmentally conscious consumers.
Check out Kobee’s latest skincare products for a healthier planet!
Kobee’s Co Journey Before Shark Tank
Kobe Harris started Kobee’s Co. in 2019 as a personal project, motivated by his love for the outdoors and a desire to use only natural, eco-friendly skincare products.
Using common ingredients like coconut oil, beeswax, and sunflower seed oil, Kobe crafted his first lip balms in his kitchen.
His commitment to avoiding plastic packaging set his products apart, and sales began to rise as consumers resonated with his message of sustainability.
By 2022, Kobee’s Co. raised $25,000 in seed funding from Path Ahead Ventures, which allowed Kobe to expand his product line to include lotion bars, lip scrubs, and hand salves, all adhering to his plastic-free philosophy.
His efforts paid off as the company experienced steady growth, reaching $864,000 in sales by 2023. Projections indicate it could reach $3.5 to $4 million by the end of the year.
Shark Tank Pitch Recap
Kobe entered the Shark Tank with confidence, asking for $300,000 in exchange for 6% equity, valuing his company at $5 million. He shared his personal story, describing how Kobee’s Co.
started as a college dorm project and evolved into a thriving business. He explained his commitment to sustainability, highlighting the compostable packaging and clean ingredients used in his lip balms, which are available in over ten flavors.
The Sharks admired Kobe’s passion and ingenuity, but they were hesitant about his valuation and the competitive lip balm market.
Kevin O’Leary made an offer of $300,000 for 20% equity, arguing that the company’s valuation was too high.
Kobe countered with 10% equity, but Kevin refused, and ultimately, Kobe left the Tank without a deal.
What Happened to Kobee’s Co After Shark Tank?
Despite not securing a deal, Kobe’s appearance on Shark Tank had a positive impact on Kobee’s Co. The business saw a surge in online sales and social media engagement.
Leveraging platforms like TikTok and Facebook, Kobe’s company continues to grow, reaching a wider audience of environmentally conscious consumers.
As of 2024, Kobee’s Co. is valued at approximately $7.38 million, with strong direct-to-consumer sales through its website and Amazon.
The brand has also expanded its product line, introducing new offerings like an SPF 15 Lip Balm, Overnight Lip Mask, and Cuticle Butter.
Kobe’s dedication to customer feedback and sustainable innovation has kept his company on an upward trajectory.
Also, don’t miss this update on Shark Tank products from Season 16, Episode 3
Future Plans
Kobee’s Co. has ambitious plans for the future. The company aims to enter retail stores, expand its product line to include more eco-friendly skincare solutions, and continue building its loyal online community.
Kobe also plans to enhance his company’s digital marketing efforts, especially through social media, to increase brand visibility and drive further growth.
Additionally, he remains committed to supporting environmental causes, with a portion of sales going to NGOs like One Tree Planted and The Alliance for the Great Lakes.
Closing Remarks
Kobee’s Co. is a testament to how passion for sustainability and perseverance can lead to entrepreneurial success.
Kobe Harris walked away from Shark Tank without a deal. Despite this, he has continued to expand his brand and inspire others with his eco-friendly mission.
Kobee’s Co. has new products on the horizon and plans for retail expansion. The company is on its way to becoming a household name in the natural skincare industry. Stay tuned for more exciting developments from this green skincare pioneer!
We’re closely following the company to bring you valuable insights. Stay tuned for the latest updates on Kobee’s Co.!
Feature Image Credit: @abc/@christopherwillard
