Young Entrepreneur Kobe Harris Refuses $300K ‘Shark Tank’ Offer

The college dropout decided to bet on himself.

Kobe Harris dropped out of Loyola University in Chicago to focus on the success of his beauty company, Kobee’s. In just a few short years, Harris has appeared on ABC’s Shark Tank and is in line to earn $4 million in sales for 2024.

Harris appeared on the long-running show seeking investment and mentorship. According to CNBC Making It, Harris was unable to make a deal with one of the sharks though he came close.

“Kevin O’Leary, however, offered up the $300,000—and his myriad connections with retailers—for a 20% equity stake in Kobee. Harris countered with 10%, and O’Leary proposed 15%.”

The price was right as Harris was seeking that exact figure in monetary compensation. Still, Harris felt the terms were too high.

Kobee’s is a health and beauty business based in Las Vegas. The main product is a beeswax lip gloss. Harris markets the product and its packaging as eco-friendly.

@kobeesco Make sure the lip balm your using has high quality ingredients! Here is a representation of what you could be consuming over a two year span if you use lip balm daily. Kobee’s has only 4 simple all natural ingredients, effective and safe. Stay buzzin, Kobees #cleaningredients #lipbalm #kobees #information #smallbusiness ♬ original sound – kobeesco

The young entrepreneur is no stranger to betting on himself. He began his business with a tick or two above nothing: a $200 investment from his mom and a few ingredients from Amazon.

After gaining momentum in sales, earning $15,000 in one month, Harris dropped out of college to pursue his business full-time.

“Since classes were online, I just told my dad, ‘I’m still in school,’ but really I was just in the basement making lip balms,” he said.