Hair extension company, Mayvenn, announced a $23 million capital raise this week. GettyDiishan Imira looked at the $6 billion U.S. hair extension and wig market in the U.S. and felt something was amiss. Nor did I have any connections to people in business.”The human hair extension market beckoned when Imira’s sister, a stylist in Los Angeles, lamented the cost and difficulty in acquiring hair. “I took VCs on field trips to hair salons and beauty supply stores,” he remembers. “That was what closed the deal.”That year the company raised $3 million in seed money to get the network up and running and secure hair products from Asia.
Source: Forbes November 07, 2018 22:25 UTC