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Shark Tank's Mark Cuban Offered $400K To A Company Because Of His Wife & Daughters

Over the years, ABC's "Shark Tank" has had both fans and the Sharks grow accustomed to the usual backstory of new business hopefuls trying to reel in an investment on the show. Whether it's a new invention or an enhancement to an existing product, these up-and-coming entrepreneurs usually go through the same process when starting their businesses. By the time they walk down the hallway to get to the panel of Sharks, they usually have already experienced sales over a personal website, Amazon, or maybe even gotten some product on the shelves of a retail store. But what Fiona Co Chan proved when she presented her Youthforia makeup company was that the tide is changing, and now it's the Sharks that have to adjust to today's social media business current.

When Chan presented Youthforia to the bloodthirsty panel on Season 14, Episode 15, Kevin O'Leary was first to make an offer, promising $100,000 for 20% ownership of her company with a $300,000 loan. He also wanted a cut of the distribution pay. Chan surprised O'Leary and the other Sharks when she counter-offered, hoping for $400,000 for a 5% stake and a 50 cent royalty for every piece sold. That was when Mark Cuban stepped in. The veteran Shark explained that his daughters and wife would understand the product, and for that (after going back and forth with O'Leary), offered Chan $400,000 for 8% ownership with no royalties. Chan took the deal, which was close to what she hoped for.

Mark Cuban's family allows him see modern potential

So, what exactly is Youthforia, and why would Mark Cuban's wife and daughter understand the product? Well, first off, it's not just your standard makeup line. When founder Fiona Co Chan stepped in front of the investors to strike a deal, she showed why her beauty products are on another level. These makeup items change color as the oil reacts to the skin's natural pH, creating a unique shade for each individual user. Cuban not only saw this resonating with consumers of all ages, but thanks to his connection to his wife and daughters, he saw the brand potential coming from Chan herself. The solid presentation alone proved her to be much more business savvy than the Sharks originally thought she was. 

Chan's highly tuned-in sense of opportunity shines through on the Youthforia website. Shortly after the "Shark Tank" appearance, not only was a section on the site devoted to the episode, but new "Shark Tank bundles" of makeup have become available for purchase. This, along with her surprisingly carnivore-like negotiations, even had investor Robert Herjavec joke that Chan should replace Kevin O'Leary on the panel. Now that she's teamed up with Mark Cuban, who clearly understands her point of view thanks to his family, that swap-out doesn't seem out of the realm of possibility. For now, the successful TikTok/Instagram entrepreneur will continue to add to her growing empire with a brand new investment to help with that progress.