Ming Zhao’s custom skincare company, Proven, aimed to create cosmetics and skincare options that worked for everyone. A short test allowed the AI to provide the perfect personalized options, all while collecting data. What will the sharks think of this unique idea during Season 11? Find out in our
Shark Tank Proven Update
- Entrepreneur: Ming Zhao
- Business: Customizable, data-driven skincare
- Ask: $500,000 for 5% equity
- Result: No deal
- Shark: None
Proven uses an AI-driven, proprietary database built from the tests they conduct on their website. These tests help Proven make customizable skincare for each customer. Unfortunately, the sharks were less than impressed with Ming’s processes, which didn’t help in an extremely competitive market.
Daymond John was the first to go out because he wasn’t in the space and had no idea what the company even did. Mark Cuban followed, after a lengthy discussion where he tried to understand how the Proven AI worked. He also said he’d been pitched six similar companies recently. As a result, he went out.
Guest shark Anne Wojcicki was unimpressed with the science and said that there wasn’t enough to support the data. She went out, followed by Lori Greiner, who said it was too early for her.
This left Kevin O’Leary, who was less than impressed. He said the valuation was ridiculous and he didn’t like it, so he went out. Unfortunately, Proven walked away without a deal. Our
Despite the lukewarm reaction Ming’s company received from the sharks, Proven is doing well. Our Proven update research showed a huge increase in sales after the show aired, with about $3 million in sales across 2019 and 2020. They’ve recently opened up investments to customers, too.
There’s more to see from Season 11 Episode 21! You can find our other company updates for this episode below.
Additionally, you can find our company updates from the rest of Season 11 on our Season 11 products page.