‘Shark Tank’: Why Entrepreneur Sarah Moret Didn’t Expect to Get Mark Cuban as a Partner
Curie founder Sarah Moret appeared on Shark Tank on March 11 to gain investors for her natural body care line. Partnering with heavy hitters Barbara Corcoran and Mark Cuban, Moret was more than surprised that the NBA team owner signed on for the deal.
Daymond John rescinded his offer on Curie
Moret launched Curie with just $12,000 in savings. With $125K in sales during her first year of business, Moret entered the Tank asking for $300K in exchange for a 5 percent equity stake, though she knew she’d have to negotiate.
“I have watched a ton of Shark Tank,” Moret told Showbiz Cheat Sheet. “I knew when you walk in there with an ask, you’re never going to get what you ask for. They’re always going to want more. … I went in with 15 percent as my ceiling. I was hoping for 10 percent.”
John was impressed with Moret’s handle on the numbers and managing of the business. The Curie founder hedged when John offered her the money for a 20 percent stake, and he ended up dropping out.
“That was a not favorable offer for me,” she admitted. “So I came back and negotiated – I think I offered what was a very fair counter, which was 12 percent. And then when he went out. I was very surprised, but as I was negotiating with him, I could see out of the corner of my eye Barbara and Mark talking to each other… so I knew something was in motion over there.”
Mark Cuban surprised himself with the deal
When Moret made her pitch, she assumed that Lori “Queen of QVC” Greiner would be a perfect match for Curie. With her previous success selling on QVC, Moret felt that she had some common ground with the Shark Tank star.
“We’ve been on air on QVC about, I think, 12 times now over the last year,” the product developer explained. “So it’s become a big channel for us. Initially I figured Laurie would be most interested. … I wanted a female Shark – most of my investors are female. So I kind of gravitated towards Barbara or Lori.”
When Corcoran and Cuban teamed up, Moret agreed to hand over 14 percent of Curie for the $300K investment. She has no regrets over relinquishing the extra equity due to the double Shark power, though she never expected to have Cuban as a partner.
“I just love Barbara Corcoran,” Moret remarked. “I have followed her on social media, on TikTok, on Instagram for years. She’s awesome. And so I really loved her and wanted her. And then Mark Cuban, is Mark Cuban. I wanted Mark Cuban, of course, but I didn’t think there would be any way he’s going to invest in my company. He’s a basketball guy, a sports guy.”
Apparently, Cuban echoed her surprise. “I never thought I’d be in a women’s deodorant business, ever,” he said after making the deal.
Sarah Moret created a success in a competitive space
The Curie owner worked in venture capital prior to launching her business. After discovering the demand for products using natural ingredients, Moret pulled double duty by doing her day job nine to five and running her company. The result was a successful brand that now has two business moguls as part of the team.
“I started the business really as a side hustle,” Moret told Showbiz Cheat Sheet. “I honestly was not planning for it to become what it has. I felt like there was a need.”
