"I would do $500,000": When Shark Tank's Lori Greiner invested in Fur with a charity component 

Entrepreneurs Laura Schubert and Lillian Tung entered the Shark Tank tank with their intimate hair care line, Fur, in a notable episode of the eleventh season of the show. Many people were suspicious of the founders' request for $500,000 for a minuscule 2.5% ownership interest in their business.

After intense negotiations and multiple offers, Lori Greiner delivered the winning pitch:

"All right, I'm going to leave it right on this line. I would do $500,000 for 8% and $50,000 towards a charitable component."

Everyone was drawn to the trade because of its unusual altruistic spin in addition to its generous terms. Fur had previously caused a stir in the cosmetics business with its famous Fur Oil, a $28 bottle containing a particular blend of tea tree oil, jojoba oil, grape seed oil, and clary sage oil.

With celebrity endorsements from Emma Watson and a presence in premium retailers, the founders walked into the tank with confidence backed by solid sales figures and a $20 million valuation. Their pitch would soon turn into one of the season's most interesting negotiations.

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What happened during Fur’s Shark Tank pitch?

The pitch sparked immediate interest from multiple sharks. Kevin O'Leary, true to his signature style, threw in an offer of $500,000 for 2.5% equity with a $1 royalty per unit until hitting $1 million. Daymond John saw licensing potential and offered $500,000 for 15% equity. Meanwhile, Lori Greiner's initial offer stood at $500,000 for 12%.

That day, there was a noticeable difference in the tank dynamics. In place of Robert Herjavec and Barbara Corcoran, tennis player Maria Sharapova served as a guest shark. Mark Cuban remained on the sidelines since he didn't like the product category, while Sharapova finally withdrew, expressing worries about the value.

The founders showed remarkable composure during negotiations. When Daymond John pushed for licensing deals, they stood their ground, protecting their brand vision. Even as the discussions heated up, they maintained a firm cap of 5% equity.

This stance led to some dramatic moments. Kevin O'Leary withdrew his offer, and Daymond John, despite reducing his equity ask to 10%, eventually walked away, frustrated by their resistance to licensing arrangements.

Lori Greiner's winning offer - $500,000 for 8% equity plus $50,000 for charity - seemed to strike the perfect balance. The total package of $550,000 acknowledged both the company's value and its potential for social impact.

Fur's path following Shark Tank wasn't a smooth one; the anticipated deal never materialized. However, that didn't stop them. Rather, they established significant retail alliances, securing their merchandise in Neiman Marcus, Free People, and Urban Outfitters. Their partnership with Credo strengthened their commitment to natural ingredients, while their partnership with Goop solidified their position in the upscale wellness market.

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Fur’s success story continues

By April 2023, Fur was recording annual revenue of $5 million, showing steady growth since its Shark Tank appearance. Their product line has expanded well beyond the original Fur Oil, now including stubble cream, bath beads, shaving cream, specialized scrubs, and cleansing wipes.

Their success caught the attention of major beauty publications, with Vogue and Refinery29 highlighting their innovative approach to personal care. The company maintained its premium pricing while scaling production, proving that its business model had legs beyond the tank.

Despite not closing the deal with Greiner, Fur's appearance on Shark Tank proved transformative. Their Amazon sales rankings shot up, and their direct website sales grew alongside the retail expansion. The founders' decision to maintain control of their brand vision, even at the cost of potential deals, seemed to pay off in the long run.

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Shark Tank Season 16, Episode 11 airs on ABC on February 7, 2025.