LeGlue Temporary Glue Update | Shark Tank Season 10

Tripp Phillips marched into the Shark Tank with his sister Allee and his father Lee to make a pitch for his company LeGlue.  He was asking for just $80,000 for 15%. Tripp did an excellent job with his pitch with the help of his father and sister. The sharks were certainly impressed and seemed interested after seeing the demonstration of the non-toxic glue for kids. We’ve got a full Season 10 pitch recap and LeGlue update below.

 Shark Tank LeGlue Update

• Entrepreneurs: Tripp Phillips and Lee Phillips
• Business: Glue Adhesive for Kids
• Ask: $80,000 for 15% equity
• Result: $80,000 for 20% equity
• Shark: Kevin O’ Leary

The sharks were immediately impressed with the utility patent that Tripp Phillips had for his product, but there were still questions to be answered. Only time would tell if he would be able to defend himself in front of each of the five sharks.

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The sharks were certainly interested in the lifetime sales numbers that LeGlue had to date. Tripp shared that he had already sold more than $120,000 in lifetime sales and more than $30,000 in the last five months.

In addition to the reasonable sales numbers, they were also pleased to hear that the product has great margins. While it took less than fifty cents to make, they were currently selling it online on their own website for $9.00 per unit of LeGlue.

Kevin O’Leary started out by making an offer to LeGlue, suggesting that he’d put up the $80,000 and help the company get off the ground. With licensing as the primary objective, Tripp Phillips had himself his first offer from a shark in the tank.  In addition to the $80,000 in cash, LeGlue would have to offer 20% in equity to Kevin.

Daymond was the second shark to make an offer to LeGlue, suggesting that he would do a deal for $80,000 in cash while also taking a solid 25% of the company. Lori Greiner and Mark Cuban felt like they couldn’t make a competitive offer to LeGlue, so they ultimately went out after Kevin and Daymond made their offers. A deal would be made with Kevin O’Leary when Tripp Phillips agreed to partner with him.

In this exciting Shark Tank LeGlue update, we can share that the company is still in business and generates a lot of monthly revenue. With monthly revenue of approximately $25,000, the company is still doing very well after the tank.  The months immediately after the Shark Tank appearance were certainly the most impressive, sparking more than a half million in sales.

The company continues to hit revenue milestones and rightfully earned its place on the Shark Tank ‘Greatest’ episode in 2020. There’s no sign of Tripp Phillips slowing down his business and the products can easily be found online on its website and Amazon.

You can find the other company updates from Season 10 here:

• Bear Minimum Update
• FinalStraw Update
• BoxLock Update

Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from Shark Tank Season 10.