LeGlue Temporary Glue Update | Shark Tank Season 10
Twelve year old Tripp Phillips, pitched his temporary glue, during
If you’re short on time, here’s a quick overview of what happened to LeGlue after
Trip Phillips appeared on
Shark: | Result: |
Kevin O’Leary | Accepted deal for $80,000 for 50% of licensing until investment recouped, then it drops to 20% equity |
Daymond John | $80,000 for 25% equity |
Mark Cuban | No offer |
Lori Greiner | No offer |
Jamie Siminoff | No offer |
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
Tripp Phillips, and Lee Philips, pitch their temporary glue, LeGlue, during
Enjoy your building masterpieces for longer with Le-Glue, the non-permanent glue that holds your building blocks together -- but not forever. Safe for use with all building blocks, including Lego, Mega Blocks and Nano Blocks.
Tripp also has a utility patent for the product., which he obtained at just 10 years old. Further, his patent attorney said he is one of the youngest patent holders in all of American history.
In terms of lifetime sales, he already has more than $120,000. Plus, he already has more than $30,000 sold in the five months leading up to filming.
In addition to the reasonable sales numbers, they are also pleased to hear that the product has great margins. While it takes less than $0.50 to make, they are currently selling it online on their own website, for $9.99 per unit of LeGlue.
When asked how Tripp came up with the idea for the product, he said that in third grade, he had a school assignment to invent something. So, he asked his dad how to invent, and his dad told him to identify a problem, then solve it.
While in his bedroom, playing with one of his Lego builds, he dropped it and it broke apart. That’s when he came up with the idea to invent a special glue for he bricks.
Kevin O’Leary starts out by making an offer to LeGlue, suggesting that he will put up the $80,000, and help the company get off the ground. With licensing as the primary objective, he’ll take 50% of licensing until his investment is recouped, and then it will drop to 20% equity in perpetuity.
Guest shark Jamie Siminoff, and creator of the Ring doorbell, loves Tripp’s invention. He actually said he can see it being a lifesaver in his own home.
However, he ultimately feels that Mr. Wonderful’s deal is a good one for Tripp. So, for this reason, he is out.
Daymond is the second shark to show interest, and offers $80,000 for 25% equtiy.
Lori Greiner and Mark Cuban both feel like they can’t make a competitive offer to LeGlue, so they ultimately go out after Kevin and Daymond make their offers.
Eventually, Tripp decides to accept Kevin’s offer, and he leaves
What do you think happened following
In this exciting
In the year immediately following the episode airing, the company did $500,000 in sales. Today, LeGlue sells about 16,000 units a month.
Because he retains over 90% of that in profit, we’d guess that Tripp will continues to hit revenue milestones.
If you or your kids would appreciate this ingenious temporary glue solution for building bricks and keeping them secure, you can grab some on the LeGlue website, or on Amazon.
Today, the now teen, is focusing on school, and the business. We’re sure the future is bright for this young, and already accomplished entrepreneur!
If we learn anything new about this company, we will certainly let you know. In the meantime, you can check out our other company updates from Season 10 Episode 1 by following the links below!
For even more on companies and products, be sure to stop by our Season 10 products page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!