Each season on “Shark Tank,” small business owners go on the show to get funding from investors to grow their business. While some of the ideas get shot down super fast, there are others that end up becoming household names. Brands like the Squatty Potty and Ta-Ta Towels are now quirky items that truly do work and sit in tons of houses all across the country (via Bustle). Makeup Junkie Bags might just be one of those that you’ve heard of. The brand was seen scoring a deal on “Shark Tank,” but you won’t believe what happened afterwards.
When it comes to makeup items, the beauty community doesn’t mess around. So when an idea like Makeup Junkie Bags came out, people noticed. Three Sharks noticed, to be specific. Meredith Jurica started the brand to create a flat makeup bag that could fit her palettes inside (via Yahoo!). It turns out a lot of other people want the exact same thing.
Here’s everything you need to know about Makeup Junkie Bag since you saw the brand on “Shark Tank” and the shocking reason why Jurica didn’t actually take the deal. Yes, you read that right.
If Makeup Junkie Bags sounds like a great idea, that’s because it is. CEO and Founder Meredith Jurica has created a thriving business with three Texas-based manufacturers and almost 30,000 followers on Instagram. If you watched the show, you might think that’s because Jurica accepted Laurie Greiner’s deal for $200,000 and 5 percent plus $0.75 per bag (via 2paragraphs). Well, while all of that was very much true, Jurica never actually took the deal (via Yahoo!).
“I was offered funding. I got three offers and on the show I accepted an offer from Lori Greiner but in the negotiations after, a lot of people don’t know this, I didn’t actually take her deal,” Jurica says. “I manufacture everything here in Texas at my own facility and I employ a lot of local people who depend on that for income and do a great job. She manufactures a lot overseas and there were things we just couldn’t figure out as business partners.”
It turns out that Jurica wanted to keep her manufacturing in Texas, so she didn’t end up taking the deal, according to the Yahoo! interview. We guess that’s how the Sharks have so much money to constantly invest.
Meredith Jurica didn’t take any of Lori Greiner’s money for investment in Makeup Junkie Bags, but it turns out that there’s no hard feelings. In fact, it’s actually pretty common for people not to take the deal on “Shark Tank” (via Investopedia). A lot happens when those contestants walk through those giant double doors.
Jurica tells Yahoo! that she even calls Greiner for advice from time to time. “I didn’t take any money, I didn’t accept the deal and I still own 100% of my company. But we’re still friends, we still talk and I still see her sometimes,” Jurica tells the publication. “It’s fun and I feel like she’s always there if I need her.”
Of course, getting on “Shark Tank” — with or without taking the deal — is still great advertisement for your company. Although Jurica didn’t take the money from the Sharks, her business is still thriving. Makeup Junkie Bags are constantly launching new collections and even have five different sizes of bags, all which are still being manufactured in Texas. Shout out to Jurica for sticking to what felt right to her.