The Longhairs Update | Shark Tank Season 9

The Longhairs, a company that creates men’s grooming products, was featured on Season 9 of Shark Tank. Lindsay Barto and Chris Healy were hoping to earn a $95,000 investment in exchange for 10% equity in their company. Let’s see if they were able to secure a deal before we cover all of the details relating to the Longhairs update.

Shark Tank The Longhairs Update

The Longhairs Update

  • Entrepreneurs: Lindsay Barto and Chris Healy
  • Business: Men’s Grooming
  • Ask: $95,000 for 10% equity
  • Result: $100,000 for 20% equity
  • Sharks: Mark Cuban

The company’s flagship product was a hair tie for men’s hair. There are many different themed hair ties available for men to purchase. Lindsay Barto and Chris Healy told the sharks that during the first two years in business, their company had generated more than $100,000 in revenue. Most of the company’s revenue comes from e-commerce, which includes its own website and Amazon’s marketplace.

A single hair tie costs about $1.60 to manufacture and it was being sold online for $12. The sharks were fairly impressed with the company’s margins but they did have some concerns about the price point of the men’s hair ties.

Kevin O’Leary expressed his interest in the company by making an offer. Kevin offered $95,000 in exchange for 10% equity,  but he also wanted a $2 royalty until he was repaid $200,000. Lori Greiner and Daymond John were not interested and decided to drop out. Mark Cuban offered $100,000 in exchange for 20% equity and that offer was quickly accepted by Lindsay and Chris.

Let’s fast forward from Season 9 to the present day to get an important Longhairs update to see how the company has progressed since appearing on the show. The deal with Mark Cuban was eventually finalized, but the company decided to remove its products temporarily from Amazon’s marketplace due to knockoffs and counterfeits. Today, the company is currently projecting about $500,000 in gross revenue sales – about five times higher than the sales that were declared during the episode on Season 9.

You can find the other company updates from Season 9 Episode 16 here:

Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from Shark Tank Season 9.