Hollywood actor Gwyneth Paltrow will be joining ABC’s Shark Tank US as a guest judge where she will be looking to fund entrepreneurs. A successful businesswoman herself, the Oscar winner has a money minting venture in Goop valued at $390 million.
In a video shared by Shark Tank, Paltrow recalls how she set the business up at the peak of her career when back in 1998, “Shakespeare in Love” released and catapulted her to a stardom that was strewn with awards. She won the Best Actor (Female) Academy Award that year for her performance for the same movie.
She talked about how she was filming a movie in Paris around the time when she realized how difficult it was to find a good café or well practitioners.
“And that’s really where the very, very kernel of the idea of Goop was born,” the 50-year-old said.
In 2008, she recalled, she was living in London and that was when she sent out the first newsletter for Goop.
Paltrow describes Goop as a multi-vertical lifestyle brand.
“We have clean beauty, wellness, home, fashion, food delivery. We have five retail stores, we have a podcast that has over 30 million downloads, we have over 200 employees, over 8 million subscribers,” she says adding that the last valuation of her company is at $390 million.
“People thought I was crazy for walking away from this movie star career to a start-up founder but for me it has been an incredibly fulfilling transition,” Paltrow adds.
She says she is good at identifying trends early and has a fair idea about what the consumer might want even before they know.
On why she wants to be a “Shark”, the actor adds that she has a soft spot for entrepreneurs because its “so hard”.
“I have always leaned in to help other entrepreneurs because I respect the journey so much,” she adds.
She also says Shark Tank is a huge opportunity and provides a seat at the world stage.
“It’s a huge opportunity from being in your garage trying to make a product to being able to show America and the world that you have something viable and exciting,” she concludes.
Watch whether Gwyneth Paltrow makes any deals on Shark Tank US. The show is streaming on Hulu.
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