Mark Cuban's Shark Tank Investments Benefits Many Black Entrepreneurs

Mark Cuban’s Shark Tank Investments Benefits Many Black Entrepreneurs

Entrepreneur Mark Cuban, minority owner of the Dallas Mavericks, has been on the TV show, Shark Tank for over 13 years. During that time, Cuban has invested approximately $2 million in 13 Black-owned businesses. According to The Dallas Morning News, he has made investments in more Black-owned businesses than any other “Shark” on the show.

One of those entrepreneurs who pitched his business on the show failed in three previous auditions, but the fourth time worked in his favor. Noel Durity, who is the CEO and founder of an online retailer, Twist It Up Comb found a believer in Cuban and both have found more success through the investment.

“I never make charity investments. But sometimes I do see promise in an entrepreneur that isn’t the result of numbers. Noel Durity from Twist It Up is a perfect example,” said Cuban. “The company makes combs for naturals and that’s not something I have personal experience with. But the guy loves to sell, loves his product and is always learning. Since then, he has paid me back my investment and then some and is absolutely killing it.”

That investment has helped the company’s annual revenue reach a total of $6 million.

“I just felt like Mark saw himself in me,” Purity stated. “He loves any entrepreneur that’s going to work hard and doesn’t quit. I feel like that’s the core belief that harmonizes Mark and I. Now, he’s always there for me. It’s been life-changing to have a mentor like him around.”

Another benefactor of Cuban’s business acumen and investment is Zoobean (Name changed to Beanstack), which is owned by Felix and Jordan Lloyd. The company helps curate educational materials for children. After being invited to appear on the show, although no other sharks bit at the chance to invest, Cuban was the only one they needed. After investing $250,000 for a 25% stake in the company, Beanstalk has about $5 million in annual revenue.

After getting business advice from Cuban to tweak some things, like changing strategy from appealing to parents to shift to approaching schools, it change the company’s trajectory. The billionaire entrepreneur helped the company reach at least 20 school districts and 600 libraries. Felix said that Cuban has made three times the amount of his original investment in Beanstack.

Cuban states he is a proud supporter of diversity, equity, and inclusion.

“DEI means looking where others don’t for great people and businesses,” he said. “It means working with them to put them in a position to succeed and accepting what is unique about them.”

Mark Cuban Shark Tank Investments Benefits Many Black Entrepreneurs

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