Lip Bar, an Organic, colorful lipstick, was started by Melissa Butler and Rosco Spears in 2011. As of November 2023, Lip Bar’s net worth is $15 Million and they’re pulling in a whopping $5.5 million in annual revenue.
On February 6, 2015, they appeared on Season 6 of Shark Tank USA seeking $125,000 for 20% equity valuing the company at $625,000. However, the Sharks were not interested in investing in Lip Bar. Sharks were out because there was too much competition in the beauty industry.
Lip Bar is still in business. Their products are available on the official website and Amazon.
Lip Bar Net Worth
| Net worth | $15 Million (2023) |
| Annual Sales Revenue | $5.5 million (2023) |
| Profits | – |
| Lifetime sales | – |
| Investor | – |
| Founders | Melissa Butler and Rosco Spears |
| Employees | 30 to 40 |
Lip Bar Net Worth Timeline
| Net Worth 2023 | $15 Million |
| Net Worth 2022 | $12 Million |
| Net Worth 2021 | $10 Million |
| Net Worth 2020 | $7 Million |
| Net worth valuation in 2015 before appearing on Shark Tank | $625,000 |
Lip Bar Pitch on Shark Tank
| Company name | Lip Bar |
| Product | Organic, colorful lipstick |
| Episode | Season 06 Episode 18 |
| Founders | Melissa Butler and Rosco Spears |
| Asked for | $125,000 for 20% equity |
| Final deal | No deal |
| Shark | None |
| Location | 1444 Woodward Ave, Detroit MI. |
Don’t miss these products from Season 06
Lip Bar Founders
Lip Bar was founded by Melissa Butler and Rosco Spears in 2011. They got the idea after a lack of options for Black women in the beauty market. Lip Bar’s founders, Melissa Butler and Rosco Spears net worth is unknown as of 2023.
Key accomplishments
| Year | Accomplishment |
| 2023 | Lip Bar is sold in over 1,000 stores nationwide |
| 2015 | The Lip Bar appeared on Shark Tank |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business. They have proven that with the right idea and execution, anything is possible. We can’t wait to see the future of Lip Bar and its continued success.