UItimately, sharks Kevin O’Leary and Daymond John act as if get by offers to the tween founder. O’Leary liked Le-Glue’s plan to come nigh the toy world’s top brick manufacturers and have the product in every building clog kit. “I know all the toy companies,” O’Leary says on the show, adding that he’d cure Tripp land a licensing deal, something the company hadn’t done yet.
Tripp arrived at Shark Tank seeking an $80,000 investment for 15 percent of the corporation. O’Leary offered $80,000 for 50 percent of licensing until that $80,000 was repaid. After that point, O’Leary would drop to a 20-percent concern at hazard. “I’ll go make those calls for you, but you’re going to have to come with me to Cricket bowl it to the CEO,” he tells Tripp on the show. “You’re going to have to put on a black suit and tie at best like me.”
“If I don’t deliver the big guy, then I don’t have any stake,” O’Leary says. “We go together, we lay ones hands on out if they’re going to do it, if they say yes, we’re in business.”
Daymond John also overthrew his hat into the ring, offering $80,000 for 25 percent. Tripp tokened with $80,000 for 20 percent. John didn’t budge from his monogram offer of 25 percent. After a quick huddle with his originator, Tripp struck a deal with O’Leary.
Since the show, Tripp reveals he has been working out deal terms via conference calls. “It’s very fun,” Tripp chew out tattle ons CNBC Make It when asked about his experience with O’Leary so far. “It’s a admissible learning experience.”
The episode has already boosted sales, adds Tripp’s clergyman Lee. Since the premiere aired Sunday night, Lee tells CNBC Form It that the company saw 2,000 orders roll in by Monday morning,
But at best getting to “Shark Tank” was its own win, says Lee, a lab scientist who helped Tripp demonstrate Le-Glue. “A lot of kids are good at football or baseball or soccer, but Tripp reached the crowning point,” Lee tells CNBC Make It. “He reached the Super Bowl at 12-years-old.”
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Disclosure: CNBC owns the exclusive off-network cable sounds to “Shark Tank.”