Le-Glue is a product, which is started by 14-year-old Tripp Phillips and his father. He made a suspension for this by creating Le-Glue, a water-soluble glue that can strengthen Lego creations.
Tripp Phillips is the 14-year-old inventor and founder of the Le Glue product.
He began LeGlue LLC back company in 2015. It is a water-soluble adhesive glue for Lego pieces.
His father decided to invest $1000 into the company to watch if they could make some units of the product and sell them.
Tripp and his father pitched the product on Shark Tank and got a deal with Kevin O’Leary. They came in Shark Tank Season 10 Episode 1, and their Business Type is Water-Soluble Adhesive For Lego Pieces.
Le-Glue [year] Update – What Happened After Shark Tank – https://t.co/AvhxrFnjCO – #LeGlue #Sharktank #Entertainment pic.twitter.com/gGiIBgj5qF
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In this blog, you’ll read about Le-Glue’s Net Worth 2023 (Shark Tank): What Happened After Shark Tank? Know Here Everything!
Le-Glue’s Net Worth 2023
Le-Glue is a product, which is a water-soluble adhesive glue for Lego pieces. As of 2023, Le-Glue’s net worth is estimated to be $1.6 million.
Tripp Phillips and his father made their presence on the 1st episode of the 10th season of the Shark Tank show. They came to get a deal of at least $80,000 for 15% equity. They left Shark Tank with a deal of $80,000 For 25% by Shark Kevin O’Leary.
Le-Glue’s Shark Tank Appearance
Tripp Phillips wanted to feature on the Shark Tank. In 2018, he got his chance to pitch Le-Glue with his father Lee Phillips. They presented on season 10 of the show, seeking $80,000 for a 15% equity stake.
They brought along Tripp’s sister, Allie Phillips, to help with the demonstration. Tripp showed homemade samples of Sharks they created.
The Sharks praised the kid’s entrepreneurial drive and were also impressed with the profit margins. His main goal was to partner with a large brick manufacturer.
Kevin O’Leary was the 1st to make an offer but it was contingent on securing a licensing deal. He offered them a deal of $80,000 for 50% of the licensing revenue until he recovers his money then the equity will drop to 20%.
Jamie Siminoff (Guest Shark) felt like he couldn’t match the offer and dropped out. Daymond John also made an offer without any clauses but the Tripp went with Kevin O’Leary’s deal despite no assurances.
What Happened After Shark Tank?
Tripp Phillips and Kevin O’Leary immediately began working on the licensing deal. A year after the Le-Glue episode aired, they made over $500,000 in revenue.
In an interview, Tripp Phillips disclosed the business was making around $18,000 per month. He also shared, they have distribution in the United Kingdom, South Africa, and China.
The temporary glue is now available at Walmart, Amazon, Learning Express, and so many independent toy stores. The company started manufacturing hand sanitizers in 2020 to aid regional communities in fighting Covid -19.
Currently, the business is valued at an estimated $1.6 million.
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Frequently Asked Questions About Le-Glue’s Net Worth 2023
Q.1 What is Le-Glue?
Ans. Le-Glue is a water-soluble adhesive glue for Lego pieces.
Q.2 What is Le-Glue’s Net Worth 2023?
Ans. As of 2023, Le-Glue’s net worth is estimated to be $1.6 million.
Q.3 Who are Le-Glue’s founders?
Ans. Tripp Phillips is the 14-year-old inventor and founder of the Le Glue product.
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