54 Thrones Shark Tank Update – 54 Thrones Net Worth 2024

Finding skincare products that are both healthy for the skin and morally sound is a typical problem faced by consumers searching for natural and effective skincare products in today’s environment. Although shea butter’s calming and moisturizing properties have long been recognized, many consumers still have trouble finding high-quality, meticulously crafted products. 

That’s where 54 Thrones, a brand owned by Christina Funke Tegbe, comes in. The brand sells skincare products made with natural components, including African shea butter. Christina’s goal is to introduce genuine, superior beauty products to the international market while highlighting African beauty.

To grow her company, she presented her brand to the sharks on Shark Tank. She requested $250,000 in this episode for 10% equity. Did the entrepreneur get a deal on Shark Tank? Check out our 54 Thrones update to find out!

54 Thrones net worth 2024

Christina Funke Tegbe asked for a $250k investment in exchange for 10% equity in her company. This meant she valued her company at $2.5 million. She made a deal with Kevin O’Leary and Nirav Tolia for $250k in exchange for 17.5% of her company, which valued her company at approximately $1.43 million.

After the show aired, 54 Thrones saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of 54 Thrones in 2024 is about $1.88 million.

54 Thrones Shark Tank Update

As for the 54 Thrones update, after its appearance on Shark Tank, 54 Thrones kept growing. Because of the company’s rapid expansion, its goods are currently offered in prestigious department stores including Nordstrom, Credo Beauty, and Sephora. 54 Thrones are still operating today, bringing in an estimated $1.3 million a year.

Christina has established a strong online presence and has collaborated and used social media to promote the business. The brand’s visibility has increased further because of features in prestigious beauty magazines like Vogue and Glamour. Customers searching for superior and ethical beauty products continue to be drawn to the company’s “Trade not Aid” mission.

Yes, Christina Funke Tegbe was successful in landing a Shark Tank deal. After an outstanding pitch and impressive product margins, she won over the Sharks with an offer from Kevin O’Leary and guest shark Nirav Tolia. $250,000 was exchanged for 17.5% stock in the agreement.

Christina finally agreed to the final agreement after some haggling. Originally, she had demanded $250,000 for 10%. With two Sharks on board, Christina could expand her brand even more by securing additional mentorship and contacts.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin and Nirav Tolia	1# $250,000 for 20% equity2# $250,000 for 17.5% equity	1# $250,000 for 15% of equity  2# $250,000 for 10% equity3# $250,000 for 17% equity	Yes
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	Partnership with Nirav	N/A	N/A
Robert Herjavec	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

54 Thrones Shark Tank pitch

During her travels throughout Africa, Christina Funke Tegbe developed a fascination for African skincare and cosmetics. Christina made connections with women who produced shea butter, argan oil, and other natural components throughout the continent after leaving her corporate position.

Inspired by the long history of African beauty, she set out to establish a company that would help the communities that created these premium ingredients besides bringing them to the global market. Her mission was to advocate for “Trade not Aid,” which meant that she preferred using business to empower these women above charity.

Starting a skincare company wasn’t simple, but Christina persevered because of her passion and tenacity. Her dedication to her idea pushed her through obstacles, like finding the best ingredients and building relationships with suppliers.

Christina presented the Shea Butter Beauty Butter, the company’s flagship product created from premium African shea butter, during her Shark Tank presentation. She gave the Sharks an overview of her goals and emphasized her excellent profit margins. Her body butter only costs $12 to create, yet a tin can sell for $80.

Christina requested $250,000 in exchange for a 10% stake in her business. She also revealed her remarkable sales figures, stating that she earned $500,000 in 2020 with hardly any marketing expenditures. In 2021, she was expected to reach $1 million. The Sharks were thrilled when Christina also revealed that Sephora would soon carry her products. Keep reading our 54 Thrones update to see what happens next!

Every Shark had their own inquiries concerning the company and goods:

Lori Greiner asked about the sales. The owner replied that last year she made half a million dollars in sales. She spent $8,000 in marketing and most of the promotion was through word of mouth. The product was also of Oprah’s favourite things. They hit $300,000 in revenue.

Kevin questioned about the profit margin which will help her expand her business in retail. She revealed it cost $12 to make the product, and she sold it for $80. Now she is planning to launch the product in Sephora US and Sephora Canada. 

Kevin O’Leary expressed interest but requested further information regarding her plans for growing the company. Though he wasn’t sure if he was the best representative for the company, he enjoyed the margins.

Lori Greiner mentioned she had already purchased a similar skincare brand, so she can’t invest here. Lori expressed her enthusiasm for the product.

Robert Herjavec acknowledged he wasn’t too passionate about skincare, but he loved the product. It wasn’t a wise investment for him, so he left early.

Mark Cuban felt that his lack of skincare knowledge prevented him from contributing significantly to the business. He didn’t pass since he didn’t think he suited Christina’s energy.

Nirav Tolia and Kevin O’Leary collaborated to submit an offer. Christina responded with 15% when they offered $250,000 for 20% equity. They negotiated back and forth for a while before agreeing on 17.5% equity for the $250,000 investment. Christina’s brand had the potential to grow, and her passion inspired both Sharks.

Product Availability

From our 54 Thrones update research, 54 Thrones is a luxury beauty brand that sells a variety of goods, but their body butter made with shea butter is the best. These products are renowned for their nourishing qualities for the skin and their rich, creamy texture.

The 54 Thrones website 54 Thrones and well-known stores like Nordstrom, Credo Beauty, and Sephora carry them. A tin of body butter costs $80, which is a fair amount given its premium ingredients and the time and effort that goes into making each one. 54 Thrones is becoming a household name in the skincare industry because of its expanding retail presence.

Conclusion 

Since making its debut on Shark Tank, 54 Thrones has advanced significantly. Many people have connected with Christina Funke Tegbe’s mission of introducing real African beauty items to the global market. The brand is still doing well, with a rising internet following and a solid store presence.

Christina has grown her firm even more thanks to the agreement with Nirav Tolia and Kevin O’Leary. The company is dedicated to its primary goals of enabling African communities and advocating for “Trade not Aid” despite its growth. As 54 Thrones continues to create waves in the beauty business, it will be interesting to see where it goes next.