54 Thrones Shark Tank Update

One founder turned childhood memories and cultural pride into a skincare brand that captivated Shark Tank. Christina Funke Tegbe’s journey to creating 54 Thrones began with a deeply personal connection to her Nigerian heritage. Growing up in Texas, she experienced the transformative power of African beauty traditions through her family, especially the shea butter sent by her Nigerian aunt. This early exposure inspired her to launch a brand that would celebrate Africa’s rich botanical heritage and empower artisan cooperatives across the continent.

After a corporate career, Tegbe made a bold decision to cash out her 401 (k) and traveled across Africa, forging direct relationships with women-led cooperatives. Her vision was clear: to build a luxury skincare brand rooted in ethical sourcing, fair trade, and authentic African ingredients. 

The Shark Tank Pitch

In Season 13, Tegbe pitched 54 Thrones to the Sharks, seeking $250,000 for a 10% stake, valuing her company at $2.5 million. She explained her niche: creating clean, chemical-free skincare products that support African communities. She had already gained traction with $500,000 in sales the prior year and upcoming launches in Sephora and Nordstrom.

Her pitch highlighted the brand’s unique sourcing and social mission, which resonated with the panel. The Sharks were impressed by her education, background, and the authenticity of her story. The negotiation that followed was tense and instructive for any entrepreneur.

The Deal and Negotiation

Several Sharks bowed out for various reasons. Lori Greiner enjoyed the product but said she had a conflict of interest due to a similar investment and dropped out. Mark Cuban and Robert Herjavec also declined, citing concerns over valuation and fit.

Guest Shark Nirav Tolia expressed personal interest, referencing his family’s connection to the skincare industry and showing enthusiasm for the brand’s story and mission. He offered to split the investment with another Shark. Kevin O’Leary joined him, and together they proposed $250,000 for 20% equity, split between them.

Tegbe countered for 15%, and after some negotiation, the final deal was $250,000 for 17.5% equity. O’Leary insisted on at least 10% for himself, and Tolia was flexible, leading to a compromise. Tegbe accepted, securing two Sharks for the price of one.

Pros and Cons of the Deal

Advantages:

• Strategic mentorship and access to networks from two experienced Sharks.
• National television exposure boosts brand awareness and sales.
• Validation of the business model and mission-driven approach.

Potential Concerns:

• The valuation dropped from $2.5 million (her ask) to about $1.43 million (deal terms).
• Giving up 17.5% equity meant less future upside for the founder.
• Navigating advice from two Sharks could present challenges in decision-making.

What Entrepreneurs Can Learn

• Authentic Storytelling Highlights Success: Tegbe’s personal connection and mission-driven narrative were central to her outcome.
• Know Your Worth: She negotiated assertively, not accepting the first offer and ensuring the deal was fair.
• Build Traction Before Seeking Investment: Pre-existing retail partnerships and strong sales figures provided credibility.
• Mission-Driven Models Attract Investors: The “Trade not Aid” philosophy resonated with both investors and consumers.
• Composure Under Pressure: Tegbe’s calm and strategic negotiation set a strong example for founders.

How the Brand Is Doing Now

Post-Shark Tank, 54 Thrones has continued to grow. The brand is available at major retailers like Sephora, Nordstrom, and Credo Beauty, and has been featured in top publications. Tegbe remains the face of the brand, engaging directly with customers and sharing her journey.

The company’s annual revenue is estimated at around $1.3 million, and it continues to expand its product line and social impact. Tegbe’s vision of changing the narrative about Africa and celebrating authentic user experiences is being realized, inspiring both consumers and fellow entrepreneurs.

54 Thrones stands as a strong example of the power of authenticity, ethical business, and the impact of a well-told story, both in the Shark Tank and in the beauty industry.