Le-Glue Shark Tank Update | Le-Glue Net Worth

Le-Glue, featured on Season 10 of Shark Tank, is a product designed specifically for building block enthusiasts, including fans of LEGO, Mega Bloks, and other similar construction toys. 

Le-Glue is primarily used to temporarily bind these building blocks together, providing added stability without permanently altering the blocks.

Le-Glue is a non-toxic, water-soluble adhesive, making it safe for kids to use. You can easily disassemble your creation once it’s finished by soaking the blocks in warm water, which dissolves the adhesive. Le-Glue has one standout feature: it’s reversible.

Le-Glue allows users to reuse their building blocks repeatedly without the concern of leaving behind any sticky residue or causing any damage. 

Le-Glue does not alter the blocks’ appearance, feel, or function in any way; instead, it simply enhances their structural integrity for as long as you need it to.

Le-Glue is a good choice for a multitude of reasons. Its non-toxic and reversible nature makes it an appealing choice for parents and educators, encouraging creativity and learning through play while ensuring the safety of their children. 

Le-Glue offers building block enthusiasts the ability to realize ambitious projects without worrying about collapsing. Furthermore, since it allows blocks to be reused without damage or residue, Le-Glue promotes sustainability and economical usage of building blocks. 

By offering an innovative solution combining creativity, safety, and sustainability, Le-Glue has successfully carved out a niche in the construction toys and accessories market.

What Is Le-Glue?

Le-Glue is a product designed to help keep your building block creations together. It’s an adhesive that increases the strength of the connections between blocks by up to 12 times, reducing the chance of your constructions falling apart.

Le-Glue is a specialized adhesive that enhances building block creations’ structural integrity. It significantly strengthens the connections between the blocks, rendering them up to 12 times stronger than their normal state.

Le-Glue has the advantage of being a non-permanent solution. You can easily remove it when you wish to disassemble your creation or work on it again, even though it enhances strength. The blocks should easily pull apart if you immerse them in warm water for about 30 seconds.

Le-Glue’s compatibility is another noteworthy feature. It’s designed to be safe for all kinds of building blocks. Le-Glue can be used regardless of whether you are using Lego® Brand blocks, Mega Bloks® Products, or any other type of building blocks.

Le-Glue is designed for convenience. It comes in an easy-squeeze dispensing pouch that makes applying simple without creating a mess. This ensures a smooth, hassle-free experience for users.

Le-Glue is available for purchase directly from their website. Whether a dedicated hobbyist or a casual builder, Le-Glue can be a valuable tool in preserving and enhancing your building block creations.

Key features of Le-Glue include:

• It’s non-permanent: Although it strengthens the bond between blocks, Le-Glue can be easily removed when ready to disassemble your creation. Simply immerse the glued blocks in warm water for about 30 seconds, and they should pull apart easily.
• It’s safe to use: Le-Glue is compatible with all building blocks, including popular brands like Lego® and Mega Bloks®.
• Easy-to-use packaging: Le-Glue comes in an easy-squeeze dispensing pouch, making it simple and mess-free to apply.

Who Is The Founder Of Le-Glue?

The founder of Le-Glue is an inspiring young entrepreneur named Tripp Phillips. Born and raised in Georgia, Tripp was passionate about building brick toys from early childhood.

The problem he consistently faced was that his creations would often break apart while playing, which led him to think of a solution to this problem.

At 10, Tripp was given a school assignment to write a paper or develop an invention. This assignment turned out to be a pivotal moment in his life as it paved the way for the invention of Le-Glue. 

Tripp created a glue that could hold his building bricks together firmly, preventing them from falling apart during play. However, he also wanted the glue to be non-permanent, allowing him to disassemble his creations if he wished.

This idea led to the invention of Le-Glue, a non-toxic, easy-to-use paste that strengthens building bricks, ensuring a steady build without any chance of breaking. The special feature of Le-Glue is that the glued bricks can easily come apart if submerged in water for around 20 seconds.

Tripp didn’t accomplish this feat alone; he worked closely with his father to bring the concept of Le-Glue to life. After several trials and errors, they developed a product that not only solved Tripp’s problem but also had the potential to help millions of other kids facing the same issue.

Tripp’s invention was highly appreciated in his school, with teachers and students loving it. His teacher was so impressed by his innovative solution that she signed him up for the “International Torrance Legacy Creativity Award” competition. 

Competing against many other creative inventions, Le-Glue stood out and won first place in the “Toys and Games” category.

Tripp’s dedication and creativity also led him to become one of the youngest patent holders in the US, as he secured a utility patent for Le-Glue. 

With this achievement, he founded his own company and began producing, marketing, and selling Le-Glue online through the company’s website. He also started a Kickstarter campaign for Le-Glue, raising $3,398 with the help of 73 backers.

Before appearing on Shark Tank, Le-Glue was already making strides in its market segment. Tripp Phillips, the young inventor, and his father managed to take the initial idea from a concept to a commercially viable product.

The company started on a small scale, primarily selling its product online and at local events. The response was generally positive, with customers appreciating the innovation and utility of Le-Glue.

Its unique selling proposition — a temporary adhesive for building blocks — garnered the attention of hobbyists, parents, and educators’ attention.

In 2016, even before their Shark Tank appearance, Le-Glue ran a successful Kickstarter campaign that raised over $20,000. This crowdfunding effort provided valuable funds to help grow their business and validated the demand for their product.

The campaign served as a testament to the product’s potential, paving the way for further growth and development. Despite these early successes, Phillips knew that they needed additional resources and guidance to make their mark and scale their operation.

The exposure and potential investment from Shark Tank presented an enticing opportunity to elevate their business to new heights. So, equipped with their innovative product and compelling story, they made their way to the Shark Tank in Season 10.

How Was The Shark Tank Pitch Of Le-Glue?

In the Season 10 premiere of Shark Tank, 10-year-old inventor Tripp Phillips and his sister and father entered the tank to pitch his company, Le-Glue. 

Le-Glue is a non-permanent adhesive solution for building bricks that ensures they stay together during play but can also be easily separated when dipped in water.

Tripp sought an $80,000 investment in exchange for a 15% stake in his company. He shared his backstory with the sharks, explaining how he came up with the idea for Le-Glue to solve a problem he faced while playing with building bricks.

He also shared his impressive sales figures, stating that Le-Glue had made $32,000 in sales until the end of May that year, $52,000 the year before, and had lifetime sales of around $125,000.

Kevin O’Leary was impressed by Tripp’s business acumen and the product’s potential. He asked about production and selling costs, to which Tripp replied that it costs $0.43 to produce each unit of Le-Glue, and they sell it for $8.99.

Tripp’s father added that their goal for Le-Glue was to partner with a large company that could include their product in their sets.

Kevin offered to help achieve this goal by introducing them to big toy companies and getting a licensing deal. He offered Tripp the $80,000 he was asking for but wanted 50% of the profits until the $80,000 was recouped, after which his stake would drop to 20%.

Kevin also ensured that if he couldn’t get Le-Glue a licensing deal, he wouldn’t get any stake in the company.

Daymond John agreed with Kevin’s approach but offered a different deal. He had few connections to toy companies but proposed partnering with adhesive giant 3M. Daymond offered Tripp $80,000 for 25% of the company.

After considering both offers, Tripp chose to accept Kevin’s offer. With Kevin’s investment and connections in the toy industry, Le-Glue has grown significantly since its appearance on Shark Tank.

Did Le-Glue Get a Deal on Shark Tank?

Yes, Le-Glue did get a deal on Shark Tank. After an impressive pitch by Tripp Phillips, his sister Allee, and his father Lee, two sharks showed interest in the non-toxic glue for kids.

Kevin O’Leary was the first to make an offer. He proposed to invest the asked $80,000, but in return, he wanted 20% equity in the company, which is 5% more than what was initially offered by Tripp.

The second shark to show interest was Daymond John, who proposed investing $80,000 but wanted even more equity – 25%.

After considering their options, Tripp Phillips accepted Kevin O’Leary’s deal. So, Le-Glue received the investment it sought, and in return, Kevin O’Leary became a 20% company owner.

Since the Shark Tank episode, Le-Glue has been doing well. The company has generated significant monthly revenue and hit numerous revenue milestones.

Tripp Phillips and his product were featured in the Shark Tank’s ‘Greatest’ episode in 2020. The product can be purchased on the company’s website and on Amazon.

What Happened To Le-Glue After Shark Tank?

After their appearance on Shark Tank, Le-Glue experienced quite a success. The company’s product, a non-toxic, temporary glue designed for kids and compatible with all building blocks, caught the attention of Kevin O’Leary, who invested $80,000 for 20% equity in the company.

The company reported impressive sales numbers, with more than $120,000 in lifetime sales and more than $30,000 in just the last five months at the time of their pitch.

The product, which costs less than fifty cents to make, was sold for $9.00 per unit on their website, indicating healthy profit margins.

After securing the deal with Kevin O’Leary, the company experienced a significant boost in sales. The months following their Shark Tank appearance were particularly impressive, sparking more than half a million in sales.

The company is generating a monthly revenue of approximately $25,000 and continues to thrive. It even made it onto the Shark Tank ‘Greatest’ episode in 2020, underscoring the success of the business post-Shark Tank.

Le-Glue’s products can be easily found online on its website and Amazon, indicating a strong online presence and availability.

Tripp Phillips and his team have maintained the momentum from their Shark Tank appearance and continue to grow their business successfully.

Le-Glue Shark Tank Update

After their appearance on Shark Tank, Le-Glue experienced a significant boost in their business growth. They secured a deal with Kevin O’Leary, who offered $80,000 for 50% of the profits until the $80,000 was recouped, after which his stake would drop to 20%.

This deal provided Le-Glue with the capital they needed to scale their business and the opportunity to leverage Kevin’s connections in the toy industry.

In the year following their deal with Kevin O’Leary, Le-Glue made over $500,000 in revenue, a considerable increase from previous years.

Within just two years of their appearance on Shark Tank, the company saw over a 500% increase in sales, averaging around $35,000 in monthly revenue.

Le-Glue also gained public recognition through various media features. In 2019, Tripp Philips and his family were featured on Channel 12 News with their company. Tripp entered and won $5,000 at the Inaugural PitchDIA contest. 

Le-Glue also attended the annual New York Toy Fair, where Tripp had the opportunity to pitch his product to potential buyers and sellers.

In 2020, amidst the global COVID-19 pandemic, Le-Glue pivoted to produce hand sanitizers using their machines and funds to aid local communities. During this challenging time, they donated hand sanitizer to the Dalton Fire Department and healthcare workers.

In 2021, Tripp Philips, after being nominated twice, was selected to win the 2021 GAGC Distinguished Teen Award. Tripp and his father also talked publicly about what it takes to become a successful business owner.

By 2022, Le-Glue continued growing its market and actively sought partners to distribute Le-Glue in every toy store across the US.

Le-Glue’s appearance on Shark Tank and partnership with Kevin O’Leary significantly boosted their business. They experienced massive growth in sales and revenue and managed to increase their visibility and market reach. Today, they are a thriving business, largely thanks to their successful pitch on Shark Tank.

Is Le-Glue Still In Business?

Our research shows that Le-Glue, the company started by young Todd Phillips, is still in business. Born out of a need for a temporary adhesive for building brick toys such as Legos, Le-Glue has found a niche market and continues to operate successfully.

The company’s success was further boosted when Todd pitched his creation on the popular television show Shark Tank, where he secured a deal with Kevin O’Leary. Since then, the brand has reportedly earned an average of $35,000 monthly.

It’s also worth mentioning that Le-Glue is not just a successful business but also a product that resonates with its target audience of children and parents who are fans of Lego.

The product has received positive reviews for its effective and non-toxic formula and for solving the common problem of Lego structures falling apart. In conclusion, Le-Glue is still in business and thriving within its niche market.

What Is the Net Worth Of Le-Glue?

According to our research, the net worth of Le-Glue is estimated to be $1.5 million. The valuation of Le-Glue was $320,000 after securing an investment from Kevin O’Leary on Shark Tank. 

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