
In 2024, Ruby’s Makeup, a rising star in the cosmetics industry, captivated audiences and investors on ABC’s Shark Tank. Founded by Ruby Carter, this innovative brand secured a game-changing deal, boosting its profile and sparking widespread interest in its story. From humble beginnings to a multimillion-dollar valuation, Ruby’s Makeup offers a compelling case study in entrepreneurial grit. Here’s how Carter turned her vision into a thriving business and what it means for the beauty industry.
From Passion to Product: Ruby Carter’s Vision
Ruby Carter, a 32-year-old makeup artist from Atlanta, Georgia, launched Ruby’s Makeup in 2021. Frustrated by the lack of inclusive, high-quality cosmetics for diverse skin tones, she created a line of vegan, cruelty-free products. Her signature item, a long-wear foundation with 50 shades, gained traction online, particularly among Gen Z consumers on TikTok.
Carter’s background as a self-taught makeup artist gave her a unique edge. She spent years experimenting with formulations in her kitchen, driven by a mission to make beauty accessible. “Ruby’s Makeup is about empowering everyone to feel confident,” Carter said during her Shark Tank pitch, a quote that resonated with viewers and sharks alike.

The Shark Tank Breakthrough
In Season 15, Episode 12, aired on March 17, 2024, Carter pitched Ruby’s Makeup to the sharks, seeking $200,000 for 10% equity. She showcased her brand’s impressive $1.2 million in sales over two years, with a net profit margin of 25%. Her pitch highlighted the brand’s social media savvy, with over 500,000 Instagram followers and a 4.8-star customer rating.
Sharks Lori Greiner and Daymond John saw potential in the brand’s scalability. After intense negotiations, Carter accepted a joint offer from Greiner and John: $200,000 for 20% equity, plus a $100,000 line of credit. The deal valued Ruby’s Makeup at $1 million, a significant leap from its bootstrap beginnings. This investment is poised to fuel product expansion and retail partnerships, potentially with Ulta Beauty.
Why it matters: The Shark Tank deal underscores the growing demand for inclusive beauty brands, signaling a shift in an industry long criticized for limited shade ranges.
Net Worth and Financial Growth
As of May 2025, Ruby’s Makeup is estimated to have a net worth of $2.5 million, based on post-Shark Tank sales projections and industry valuations. Carter’s personal net worth is approximated at $500,000, largely tied to her 80% ownership of the company. These figures, while estimates, reflect the brand’s rapid growth since the show.
For context, the global cosmetics market is projected to reach $463 billion by 2027, according to Statista. Ruby’s Makeup, with its focus on sustainability and inclusivity, is well-positioned to capture a slice of this market. However, Carter faces challenges, including competition from giants like Fenty Beauty, which also prioritizes diverse shade ranges.

Funding Journey: Beyond the Tank
Before Shark Tank, Carter bootstrapped Ruby’s Makeup with $50,000 in personal savings and a $25,000 crowdfunding campaign on Kickstarter in 2022. Post-Shark Tank, the brand secured an additional $500,000 from angel investors in early 2025, according to a report by Beauty Inc.. These funds are earmarked for expanding production and launching a new lip gloss line.
A real-world example of similar success is Glossier, which started as a blog and grew into a $1.8 billion brand through strategic funding and community engagement. Ruby’s Makeup mirrors this model, leveraging social media to build a loyal customer base.
Case Study: Building a Brand with Purpose
Ruby’s Makeup stands out for its mission-driven approach. Carter donates 5% of profits to nonprofits supporting women of color in entrepreneurship, a commitment that resonates with consumers. Her marketing strategy, centered on user-generated content, has driven 70% of sales through social media channels, per a 2024 Forbes analysis of beauty startups.
However, scaling poses risks. Industry expert Sarah Lee, founder of Glow Recipe, notes, “Emerging brands must balance growth with authenticity to retain their core audience.” Carter’s challenge will be maintaining her brand’s ethos while expanding into mainstream retail.
Financial Snapshot: Ruby’s Makeup at a Glance
Metric | Value |
---|---|
Founding Year | 2021 |
Total Sales (2022–2024) | $1.2 million |
Net Worth (2025 Estimate) | $2.5 million |
Shark Tank Investment | $200,000 for 20% equity |
Additional Funding (2025) | $500,000 (angel investors) |
FAQs About Ruby’s Makeup
What is Ruby’s Makeup known for?
Ruby’s Makeup is celebrated for its inclusive, vegan, and cruelty-free cosmetics, particularly its 50-shade foundation line.
Who founded Ruby’s Makeup?
Ruby Carter, a makeup artist from Atlanta, founded the brand in 2021.
What was the Shark Tank deal?
Carter secured $200,000 for 20% equity from Lori Greiner and Daymond John, plus a $100,000 line of credit, in March 2024.
Where can I buy Ruby’s Makeup products?
Products are available on the brand’s website and select online retailers, with potential retail expansion in 2025.
A Bright Future for Ruby’s Makeup
Ruby’s Makeup is more than a beauty brand; it’s a testament to the power of vision and perseverance. Carter’s journey from a kitchen lab to a Shark Tank success story highlights the potential for purpose-driven businesses to disrupt established industries. As the brand grows, it could redefine inclusivity in cosmetics, inspiring a new generation of entrepreneurs.
Why it matters: Ruby’s Makeup reflects a broader trend toward diversity and sustainability in beauty, challenging industry norms and empowering consumers to demand more from their brands. With strategic investments and a loyal community, Ruby Carter’s star is only beginning to rise.
Last Updated on Saturday, May 17, 2025 12:29 am by Aarti Kumari
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