Shark Tank to a $37M Business - podcast episode cover

Shark Tank to a $37M Business

Aug 31, 202410 min
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Episode description

In this episode of EYL, we sit down with Alexiou Gibson, the visionary entrepreneur behind a skyrocketing $37 million business. Alexiou shares his transformative journey from an ambitious business plan to partnering with renowned sharks on Shark Tank. Despite the initial aim of securing $500,000 for just 5% equity, Alexiou soon realized that the sharks brought more to the table than just financial support—they had the relationship capital needed for explosive growth.


*Why did he devalue his company?*


Alexiou explains how the strategic partnerships and growth strategies offered by the sharks outweighed the initial monetary offer. With access to the networks of influential moguls like Mark Cuban and Kevin Hart, Alexiou's brand was catapulted to national visibility, gaining opportunities that would have been otherwise unattainable. One notable example was Mark Cuban's immediate response to getting a clearance from Disney, facilitating a crucial post on The Shade Room during Black History Month.


*Challenges and Triumphs:*


Post Shark Tank, Alexiou faced operational challenges, including the overwhelming "Oprah effect" — receiving half a million dollars in orders within the first hour of the episode airing. However, smart decisions like delaying massive exposure from QVC (as advised by Mark Cuban) allowed the business to scale sustainably.


Today, Alexiou Gibson is weeks away from opening the largest CMOS manufacturing facility in the U.S., a sprawling 20,000 sq. ft. plant that will not only bolster domestic growth but also expand the business into international markets including Canada, the UK, Colombia, and the Bahamas.


*Key Milestones:*


- Seven months in, the company made a million dollars.

- By the time of appearing on Shark Tank, sales hit $3.5 million.

- Post Shark Tank, the business saw rapid growth, making $37 million in just three years.

- Launched a successful Seamoss gummy that sold out within two months, adding $3 million in revenue.

- Upcoming launch of Seamoss skincare line and an Amazon store, which are predicted to elevate sales beyond the $20 million mark in 2023.


*Future Outlook:*


As Alexiou expands into new product lines and platforms, his vision to not just grow his business but also to maintain high standards and sustainability remains steadfast. A nomination for Oprah's Favorite Things this holiday season signifies further validation and excitement for what's to come.


*Don’t miss out:*


This episode is a masterclass for budding entrepreneurs, offering invaluable insights into the strategic decision-making that separates success from failure. By focusing on long-term growth and leveraging key relationships, Alexiou Gibson has built a brand that's not only thriving but is set to dominate multiple markets in the coming years.


Watch the full episode to learn how you can apply these principles to your own entrepreneurial journey.


*Hashtags:*

#EYL #Entrepreneurship #BusinessGrowth #SharkTankSuccess #AlexiouGibson #MarkCuban #KevinHart #CMOS #StartupStory #BusinessStrategy #OprahEffect #QVC #ECommerceSuccess #BusinessInterview #GrowthHacking #EntrepreneurLife #BusinessJourney #EYLMedium #StartupSuccess #InnovativeBusiness #EYLPodcast


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Transcript

Speaker 1

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Speaker 2

I watched the episode Yes, and I thought to myself, you went in there with the initial offer. You wanted to give them five percent, Yeah, for what was the amount? Now, if anybody didn't watch the episode, go watch it. That's not the offer you left with. No, it's not changing your offer and obviously changing the evaluation of your company because of that offer.

Speaker 3

Absolutely. So what happened was the sharks literally told me I'm not getting out of bed for five percent, you know. And for me, it wasn't about the money. It was about the growth strategy that I really wanted with the Sharks. You know, it's that I wanted somebody on the team that had the relationship capital to call QBC and get me on it, you know, make a call to Walmart and we're at least a part of the conversation of being on the shows. To me, I saw the value

in that a lot more than the dollar amount. And at the time, we really didn't need the capital because we were so cash positive, because you know, we were still growing and we're still keeping things at a certain scale. So for me, I really wanted a growth strategists and someone that could help me grow the brand way more than I wanted the money. So for me, negotiating and I negotiated and devalued my company in a sense, just

for an opportunity to work with the Sharks. And you know, a lot of people were saying in the comments like man, you should have got more money, or they should they took advantage, YadA, YadA, And you know I didn't see it that way. Like I if I email Mark at three in the morning, I can check my email in like fifteen twenty minutes and I have a response from him. You know, when the Shade Room wanted to post our

Shark tank clip. They needed clearance from Disney because Disney owns ABC, and I was told by one of the producers because I emailed them, I was like, hey, can you guys clear this? They're like, oh, this goes up all the way to the top, and to be honest, you probably never hear back from them, you know. So I emailed Mark. I said, Mark, the Shade Room wants to post this. It was around Black History time too,

and I was like, can you get this cleared? Within half an hour, he got it cleared and then the Shared Shade Room was to post it. You know. So I said that to say that working with the Sharks definitely brings a lot of benefit and it's invaluable because I mean, to even book Mark Cuban for a ten minute call, fifteen minute call, if he would even accept it would be you know, six figures easily, you know, to be able to call him and utilize his team,

which are all Ivy League graduates. You know at my disposal. You know something that is worth millions.

Speaker 2

It is Kevin. I know they partnered on it. Yes, how is keV as involved or is that somebody reach on and reach out to as well.

Speaker 3

Yeah, well yeah, Kevin and his team has been amazing as well. Kevin is really busy because he's shooting usually shooting like three or four movies at the same time, so a lot of a lot of times I'm working like through his team. Recently, I just ran into to his team in Atlanta like two weeks ago, and you know,

giving them updates of the business. And one thing that we were really careful with was not having him over expose us because we were when we were at Shark Tank, we were in a fifteen hundred square foot facility, so you can imagine like we have like almost no space.

We were forty thousand orders behind after Shark Tank, I mean we're watching it live and we made half a million that night, within the first within an hour after we aared, and it's like, you know, they call it the Oprah effect, and it's like, Okay, how do we get how do we make all these all these jars? And you know, I had to expand move into a bigger warehouse, hire bigger team, you know everything. If Kevin had like eat our product or promoted our product as well,

they could have breaked the system, you know. QBC reached out to Mark Cuban to have us on QBC selling the product with Kevin Hart, and he actually told them no because he knew what it would have done to our production. He said, check back in the year. These these guys need to catch up, you know, and so little things like that. So now we're actually about weeks away, and I'm so excited. We're weeks away from moving into what will be the largest sea mass manufacturing factory in

the US. It's twenty thousand square foot and you know, we're calling it like the really Wonka Sea Mass is going to be, you know, fantastic. It's really big. It's going to give us the space to not just scale bigger numbers here in the US, but actually be able to take advantage of other countries that's been asking specifically for our brand, like Canada, the UK, Columbia, the Bahamas. You know, those are just some low hanging fruit qvc hsn GNC stores, you know, just just saying okay, now

we're ready. And so I say that to say that once we move into this facility and we're able to scale our production to where we need it to be. I know that's where Kevin's involvement is going to become really important and it won't break us, you know, So it was all it was all about the timing. So they always let us do it. They're there, But it was one of those Okay, when you're ready, ready, we're gonna blow this up, you know.

Speaker 2

Seven months then you're making a million.

Speaker 3

Yes, by the time you get to shark Tam we got three point five three point five million.

Speaker 2

Yeah, you make a half a million and an hour. Where were the what are the sales at and where are they trajected? For twenty twenty four for.

Speaker 3

Twenty twenty four okay, So sales to date is about thirty seven million in the last three years and this year we're last year we did sixteen sixteen point five million in twenty twenty three. This year, I predict no less than twenty And the reason why we didn't have the gummies yet. We just launched these this year and they sold up. This one sold out like within two months, so that that brought in brought in about three million on its own. And then we're also launching a Sema

skincare line for quarter four. We just got nominated for Oprah's Favorite Things, So us being on that list is definitely this is this is by far going to be our biggest holiday since we've been in business. So I mean I probably being modest by saying Tony is probably probably more. And then also, we did all this without Amazon, but we're launching our Amazon within the next month after you know, after all, the red tape to get a

supplement on Amazon refinedly at the finish line. So this I said, have to say, quarter four this year, we will have skincare line, we will have Amazon firing off, and then we have the new sku that we just launched us also firing off. So I predict I predict that we're going to exceed at least twenty million this year.

Speaker 4

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Speaker 3

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