Here's What Went Down With Youthforia Makeup After Shark Tank
Ever fallen asleep in your makeup and woken up to skin that's dry, irritated, and ready to break out? Well, that's the exact problem Youthforia founder Fiona Co Chan is looking to combat. Though it's always been drilled into us that it's imperative to properly take off your makeup and cleanse your face at the end of the day, Chan discovered a way to sleep in makeup without having to worry about the consequences. "I've had experiences in the past where I've gone to the hospital with allergic reactions from sleeping in makeup and that's when I came up with the idea of making makeup that works like skincare. I was like, 'Why does makeup have to be so bad for our skin?'" Chan explained to Women's Wear Daily.
From there, she created a blush that's actually designed to improve the skin. "My husband and I literally slept in the formula for two months, and we both noticed brighter and clearer skin on the patches where we tried it. It was so amazing and rewarding to see my idea come to life and actually work," she shared. Youthforia was launched in April 2021, made of plant-based ingredients that are actually good for the skin.
From there, Chan's brand gained plenty of traction on social media, going viral on TikTok. But she knew she needed more help to really make her business what she wanted it to be. And that's where "Shark Tank" came in.
Youthforia changed Mark Cuban's mind on Shark Tank
Fiona Co Chan took Youthforia in front of the Sharks during Season 14 of "Shark Tank," with her episode airing in March 2023. Chan asked for $400,000 for 5% of her business. The entrepreneur got into some impressive numbers while pitching to Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, and Robert Herjavec, revealing Youthforia had obtained more than $2 million in sales in its first 16 months. "Your margins are amazing," O'Leary told Chan. "You're very impressive."
O'Leary was first to make an offer, offering up the full amount (as $100,000 and then a $300,000 loan), but for 20% equity. Herjavec didn't follow suit though, admitting to Chan he didn't understand the product well enough to make an offer. Greiner also dropped out, telling the entrepreneur she just wasn't a fan of oils. Also out? Corcoran, who reacted badly to Chan's admission she was developing three more shades of blush after she initially claimed her existing shade would adapt to any skin tone. Cuban also explained that he didn't think creating other shades was a good idea as it was diluting her niche, and also dropped out. But that didn't last long. After talks broke down with O'Leary and some back and forth, Cuban changed his mind and came back in at $400,000 for 10%, explaining his family would be interested in the business. After a couple more counteroffers including O'Leary, Cuban dropped to 8%. And a deal was made.
Youthforia received further funding after Shark Tank
Fiona Co Chan admitted on her Youthforia blog after her "Shark Tank" appearance that she was surprised she ended up doing business with Mark Cuban, especially after he initially dropped out. "But [I] was really happy to get the opportunity to partner with him," she shared. Cuban opened up about what inspired him to invest in a beauty brand for the first time to BeautyMatter, explaining, "Sometimes you bet on the horse and sometimes the jockey. In this case, I was and continue to be impressed by Fiona." And Chan made her excitement to be working with Cuban known. "He's so supportive and he's great to work with. Ever since the deal closed, I told him that I was getting ready to launch our foundation that you can sleep in. He's been a great thought partner in helping me think through the launch, as well as [thinking] through growing the business. He's really collaborative."
But Cuban wasn't the only one to invest in Youthforia. After her appearance on "Shark Tank," Chan told Forbes that the company had also landed funding from True Beauty Ventures and Willow Growth Partners to create more products. "I decided to raise to help support our Ulta Beauty partnership so that we could hire a bigger team, [expand] our product line, and strengthen our supply chain. We've got a great group of investors in this round that have been so instrumental in helping accelerate our growth," she told BeautyMatter.
Youthforia is busy expanding
It's safe to say that Youthforia is still very much in business as of November 2023, and only appears to be getting bigger and better. Shortly after appearing on "Shark Tank," the beauty brand launched in Ulta. According to Beauty Independent, Youtforia is available at 525 Ulta Beauty locations. But that's not the only big company selling Youthforia. The products are also available at J.C. Penney and Amazon, and launched in Credo in February 2022. "I always knew that I wanted Youthforia to be in physical stores because our products are so different from other products and I want our customers to be able to try and feel our products first hand," Chan wrote on Instagram of the Credo launch. Youthforia is also continuing to sell directly from its website, where it now offers a range of products. As well as the blush that started it all, the brand also offers a serum foundation, a primer, a setting spray, and a face wash, amongst others.
And it seems like Youthforia's following is only growing. On Instagram, the brand has close to 80,000 followers. Over on TikTok, the company continues to be popular. It's amassed 157,000 followers and has received close to 5 million likes on its videos.
Fiona Co Chan has big plans for her business
It sounds like Fiona Co Chan will continue to promote her makeup on the platform that initially brought the brand a lot of attention, TikTok. "TikTok is huge for our growth. I actually still solely manage our TikTok," the entrepreneur told The Dartmouth in April 2023. "It's a huge part of our strategy just being able to educate and talk about our products. Sometimes in our videos, we go very deep into what it's like to build a brand or deep into the science behind our products," she added.
Beyond that? It seems Chan is focused on expanding her business to create innovative new products that are still in keeping with its healthy ingredient niche. "It's always been the goal to expand the line. I would love to do a full face of Youthforia makeup," Chan told Forbes. It looks like Youthforia has no plans of slowing down.