Glimmer Wish strikes a deal on Shark Tank
A young startup from Santa Barbara County captured the eyes of millions when it appeared on ABC’s Shark Tank and managed to swim away with a deal.
Glimmer Wish, a beauty products company founded by Sydney Myers, the 16-year-old daughter of Inogen co-founder Byron Myers, appeared on Season 17, episode 16 of Shark Tank, which premiered on April 8.
Byron, who is Glimmer Wish’s CEO, appeared alongside Sydney and his wife, Tiffany Myers, and all three walked away happy after securing a deal with Lori Greiner and Kendra Scott.
Glimmer Wish was founded in 2019 when Sydney was 10 years old. The inspiration behind the company was simple, as Sydney loved colorful, scented beauty products, despite her mom being against them due to harsh chemicals.
So instead of adopting any of the healthy beauty products already on the market, Sydney started her own, now selling clean, non-toxic hair and body care products targeted at kids. Byron joined his daughter’s company soon after leaving Inogen in 2021.
On the show, Sydney said that in Glimmer Wish’s first full year of selling products, the company generated $1 million in sales, $1.1 million the following year and projected to sell $1.5 million in 2025. Heavy ad spending led to the company suffering a $185,000 loss in 2024, but Byron said the company was projected to generate profit in 2025.
Additionally, each product costs around $4 to produce and retails for about $22, positioning Glimmer Wish as a high-margin, premium brand in the kids’ beauty market.
As such, Sydney was asking for a $200,000 investment for 10% of the company.
Greiner and Scott ultimately combined their bids, instead offering $200,000 for 20% of the company, 10% for each, as well as a $1 royalty per unit sold until they recouped 1.5 times their investment.
Eventually, the two sides settled on a deal that would give Greiner and Scott 15% of the company’s preferred stock as well as a $1 royalty per unit sold until the original investment was paid back for $200,000.
Byron noted during the episode that the investment would help accelerate Glimmer Wish’s plans for growth, including going into retail. According to Byron, 90% of Glimmer Wish sales were direct-to-consumer.
