Hugo's Amazing Tape Owners Keep Their Father's Legacy Alive! | Shark Tank US | Shark Tank Global
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- čas přidán 10. 09. 2024
- Katherine Saltzberg and Lauri Fraser are seeking $50,000 for 50% of their product which is a non-adhesive, self-clinging tape called Hugo's Amazing Tape.
From Season 9 Episode 23
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Hugo's Amazing Tape Owners Keep Their Father's Legacy Alive! | Shark Tank US | Shark Tank Global
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It looked like they were burdened on some level with the company. They love their dad and didn’t have the business skills or time to do the product justice. They needed the weight lifted and the lovely/talented ladies did that while preserving his legacy better than they could have on their own ❤ well done
You nailed it, the excitement from them when they got a deal shows it. These two gals were the most anti entrepreneur people on Shark Tank but never gave up.
Agree! They wanted the company to still exist and with their fathers name, but that’s it. They weren’t interest in working on it.
Thats why having daughters is worthless. They can never bring the legacy and keep the family name to the business ownership.
THEY ARE ACTORS. THEY GETTING THE TAPE FROM CHINA AND SELLING IT, THEYNEVER INVENTED ANY OF IT.
@@cnachopchopnewsagency Wouldn't say useless, moreso that you should also have a son if u want to preserve the family name
I really feel that Mark and Lori took advantage of the situation.
You think sharks are nice?
What situation? Those ladies had nothing. No sales, no patent, nothing! If anything, they only made an offer out of pity.
They should have kept a small percentage of the company even if it was 10%
It would have been wholesome to have Hugo always be part of the family but I am sure he’s proud and happy
Thats what I thought.
Yep I would've countered with a 2% royalty in perpetuity
He most likely would have said no. Why? because he knows they can't hold up the business nor do they want to let it fall. It was made clear by their current busy professions and love for their father. So he kind of checkmated them, let his legacy live under my hand or let it fall under yours.
Sometimes you need to learn to let go
Thats why having daughters is worthless. They can never bring the legacy and keep the family name to the business ownership.
their father watching from heaven saying damn these kids sold my invention for only 100k
Looooooool
Update: Lori and Mark sold the business to a private equity company for $6,240,000
Thank you for updating
Sheeeeeeeeeeeeeeeeee'it. Goodness. I really hope they gave these two ladies a larger parting gift amount.
@@ejicon3099 they are not entitled to anything. This is business
@@singstreetcar5881 Obviously they're not. I'm just saying, it would be a nice gesture.
@@ejicon3099 this is business, there are no "nice gestures ". Mark is not related to these women. There is no emotion when it comes to business and making money
Them two ladies were just too good at being a crazy act and didn’t even negotiate anything with the sharks. Literally gave their business away
One of the most entertaining pitches in quite a while
For that reason, Barbara is out
Yes!
@@Scott-got-caught if she's out, then im in
GET BARBARA OFF THE SHOW
They wanted to honor their father but immidiately sold his company, like what
meant put it too good use. Because they are not making it that is why. But they did decide too quick without negotiation was a bit disadvantageous but with all the sharks are out they scared I understand.
They sold themselves short. Lori & Mark sure did take advantage
Not sure of being taken advantage but yes they sold themselves short
dont think so - patent is expired, the company producing that stuff is allowed to produce and sell it to others, any big retailer, like a glue company gotta see the opportunity, come in, talk with em, order 100k product, try to sell it under a different name and boom, they get fked royally - also they didnt knew the finer details about the business, theyve got their own lifes, they arent invested in that and seeing it not dying, cause of their vather is what they wanted, so all in all its good id say
This is one product that I 100% liked and had no doubt about its usefulness. Hope sharks kept Hugo going for the father’s name sake!!
Yes it’s still going generating millions in revenue!
They did. In fact, you'll feel bad for these women when you find out how big the revenue is now. They sold it for 100k now it's making over 3million and they're not getting any piece of it.😅
they should have asked for a small royalty
@@chriscope7292 For sure, I'm betting they would have gotten it all things considered.
So stupid, could have gotten at least 10%
These two should be a comedy duo, they're amazing
Seems like there's a lot of unrealized talent in that family.
Mark & Lori are after the first-mover advantage. When they are smiling but not expressing anything, it implies there is something valuable there.
Exactly
What's Mark and Lori's background?
This is an Amazing Tape.
They could've made a fortune from this product.
I'm shocked they took the $100K offer for the entire business.
They wouldn’t have made a fortune walking out without a deal
Maybe if it was patented still but no. The product is free reign for any company to produce now
Amazing tape might’ve made $100k profit just from Shark Tank airing on TV and CZcams 😂
yeah, i was sad, they should have kept some retainership, I knew that would happen, they got ripped is what happened.
They really needed money...uau
They are clearly not money oriented people, they don’t know what this business could be worth
The most amazing thing about the tape is something shared by word of mouth: Arthritis fingers? Wrap the tape around them. It's like a miracle. The father discovered that fact by accident when he wrapped taped around his mothers fingers (individually, not together) in hopes it would would make it easier for her to knit, since the yarn caught on her fingers knobby joints. She loved knitting, but could no longer knit for more than 10 minutes without pain. With her taped fingers she could knitted over an hour pain free.
Personally, when my fingers start getting painful, thick joints, I wrap the tape around them a couple days, they get better, then go back to normal.
PS I've used this product for nearly 20 years. That's when their father sold it to my business at a wholesale trade show. Their father was a wonderful man.
When they heard sell 100%, they should have cradled that portrait, and said, "you know . . . Dad's favorite number was 75 . . ."
Update: The company has been doing over 3 million in sales. I'm pretty astonished by the fact that the women agreed to sell the company for only 100k, lifetime sales were around 500k. It might have just been a publicity stunt and the sharks didn't actually buy the entire company.
has been doing over 3 million in sales per day
500K with a very high margin. Something seems off
It might be it didn’t grow enough to sustain them and became a burden when they had other jobs.
@@zacharygreen2895 lol no
Yeah they could have keept 90% at least or some kind of royalty
I kind of feel bad for them even with the deal. They sold it for 100k, the company is going strong and is currently worth about 3 million.
They should have pulled a reverse Mr Wonderful and asked for a $0.25 royalty on every sale or something like that.
Mark and Lori were nervous and little ashamed without telling them the potential it has and just grabbed them all. They were morally sound. But I felt a middle ground would be gifting them 10% share for what they deserves or 5 cents for every piece sold.
I can't believe what these two ladies just did! This is literally a GREAT product. A perfect solution. They just threw it away for only 100k. Unbelievable!! They could have came in and asked for 50k for 20 % and went from there.
They didn't really have much leverage because they didn't have an existing patent. They came in with a 1st of brand and hoped to elevate it fast via a Shark, any Shark could have mimic'd it. What Lauri and Mark did was to invest in the Branding, now they own the Original naming of that product. Sort of a nod to americana in a way.
its not worth more than 100k... its unpatented and made in taiwan meaning its been knocked off 6 ways from sunday already in china/taiwan and already being sold by other sellers.
At least a royalty or something
Thats why having daughters is worthless. They can never bring the legacy and keep the family name to the business ownership.
@@cnachopchopnewsagency ^ this is why you're worthless
Not first to market…it’s called bondage tape and it’s been around for awhile 😂! They just manufactured different colors outside of solid black and red. I feel like Kevin knew but didn’t want to share that tidbit 😂!!!!
We are on the same page, LOL , Pure Bondage tape , wonder where their dad picked it up. ? LOL .
LOOOOOL THIS IS HILARIOUS 💀
Lori and Mark know they can make bank off of this product even if it's not original and even if it's being ripped off everywhere. They'll change the packaging, add some color options, sell it on QVC and BB&B and make millions! Well done sharks. You made these sister's day.
It shows they both are talented and generous enough to invest in a seemingly ripped off product
@@bhargavikaveti1328 You weren't paying close attention. Hugo created this product 20 years ago and patented it. The patented expired and now this product is "potentially" being ripped off in Taiwan.
What is BB&B?
@@venaautos bed bath and beyond, i guess
@@venaautos Bed Bath & Beyond
Waiting for the fake lame comments like “hey, sucks that they sold it because company is now worth 1.5 trillion”
I wish that the sisters had negotiated a royalty or at least a slice of equity - 10-20%. If the Dragons buy the entire company, they'll _make_ it work. They could have made a lot more out of this deal.
Yes! OMG, a royalty deal would’ve been THE BEST counter. And I think the sharks would’ve accepted it 😢
I thought the same! A royalty would have been the best option for them. Sad to see they didn't come up with it.
yep that would keep their dad legacy in my opinion.
Thats why having daughters is worthless. They can never bring the legacy and keep the family name to the business ownership.
Mark taping kevins mouth shut was perfect
I only watch shark tank US..👌
Jesus loves you and is coming back soon!
Believe in His death and resurrection and repent of your sins and be saved!
Remember that He died and rose up again for you to be in heaven with Him!
Have an amazing day ❤😊❤
I must agree with you for this.
Same. Tried to watch AUS. It sucked.
@@Gg-ij7li lol
You and me bro
This is the best pitch ever OMG! I love these ladies' personalities!
Sharks took advantage here - whole thing obv way more than sum of parts
Hugo Tape, so strong it can even keep Mr.Wonderful' Speechless
This is what happens when you leave stuff to your kids lol
If you have parents who leave stuff to their kids
Exactly my thoughts
These sisters are FANTASTIC and the product actually looks incredibly useful!
My wife and I “played” with tape like this that we picked up at an Adult Toy store. It’s Bondage tape , been around a long time . LOL
Just read this- I commented the same thing 😂.
I said the same thing! Lol
Damn I would’ve fought for a couple percents, could’ve been set for life
Right or sell it and say 50 cent royalty per sale or something.
That's what I said, 5-7.5% seems fair enough for me. Don't cut me out of Hugo's tape, it was their dad's passion and dream. They deserve to have a chance to take a cruise or whatever to enjoy the Hugo's Tape story at least once or twice a year...
What a waste of opportunity. I think the sisters missed out on something big. Would've negotiated for a royalty fee in perpetuity just to be safe and still kept their father's legacy.
They didn't even think twice and jumped straight on that 100k.
What a shame.
They killed it with their pitch...
"Barbara this is something for you". Barbara: "I agree and for that reason I am out"
I was skeptical so I tested it and it worked perfectly! I'm out
Why does something always become a product and not a business when they aren't interested in it? I mean isn't scrub daddy a "product"? I love how they conveniently change things to suit them.
You don't know the difference really though, do you?
no patent
He bought it out for peanuts. To not get any kind of royalty small ownership percentage seemed like a huge mistake.
update - It’s rare to see a company sell 100% of its equity in Shark Tank, but it does happen from time to time. Since selling Hugo’s Amazing Tape to Mark and Lori, reports indicate that it continues to generate millions of dollars in annual revenue. It’s unclear if Katherine and Lauri are still involved with the company or have moved on to a different project.
Millions??
They were so happy over $100,000 😭
If they sold the company, they sold the company. What do you mean by "still involved?"
They had no IP on it therefore a knockoff could emerge, the only thing they had essentially was the story and being the original brand of it. So they essentially sold the brand Mark and Lauri could have just saved the money ripped it off and made truckloads. Instead they now are a part of that legacy and story for $100k.
They each should've held out for 7.5%...
If you cannot pitch your product/idea with the level of excitement these two showed, you best stay home.
Honestly I love this tape. I used it at my desk to tie my cables together. So simple and so nice - much better than a bunch of zip ties or whatever.
They should of asked for a life time Royalty.
Barbara: Now THIS is something I can get behind. Absolutely brilliant and in my wheelhouse.
And for those reasons, Im out.
A legacy lives on and on. They should have asked for 10cents in perpetuity=forever
Mark and laurie wanted that tape !!!
Sharks had to get 100%, no way they could have put up with the "bad theatre" in all the meetings, if they had only 50%
So they went to Home Depot and bought the small hand roller style of stretch wrap and said: Let's call this a brand new idea.
Barbara: "I'm sorry you ladies have two legs and heartbeat, and for those reasons I'm out!! "
😂😂😂😂
I like how they fully went on convincing stage and then the mood changes.
Wait… don’t press play til you have your food ready.
Jesus loves you and is coming back soon!
Believe in His death and resurrection and repent of your sins and be saved!
Remember that He died and rose up again for you to be in heaven with Him!
Have an amazing day ❤😊❤
They could have at least asked for a 7% royalty which is pretty common in these kinds of deals. But they aren't businesspeople and Mark and Lori had no problem taking advantage of that fact.
I don't get why they are so happy
It's just 100k before taxes
I would of asked for a little royalty payout
sold their fathers legacy in a heartbeat :D
Women am I right?
All you had to do was sell this tape at walmart, amazon, ebay, target, etc. And youll make more than 100k.
OMG THIS IS FREAKING AMAZING. WHY GIVE 50%
I don't think they wanted to run the business. They weren't capable and didn't want to, but still wanted to continue their fathers legacy by handing it off to someone else
And it sounds like anyone can call a factory in Taiwan and get it.
@@AdamBechtol Yup you most definitely can! Lol
They did not seem to care about their dad's legacy. It was just a selling point.
The way mark and Lori high five ,lol
Cha'ching! High Five
Amazing tape might’ve made $100k profit just from Shark Tank airing on TV and CZcams 😂
Should have added a royalty along with the outright purchase
They should do a show, I'd watch them all day
Pity these women never did a QBC ad themselves.
Our father is gonna be so proud that we sold his company 😢😢
Sold his idea to the world, let’s face it, they probably wouldn’t be able to run the business hence the reason for selling
Thats why having daughters is worthless. They can never bring the legacy and keep the family name to the business ownership.
@@cnachopchopnewsagency tari mano piko loda
@@cnachopchopnewsagency There’s no need to be sexist. There’s a lot of multi-billionaire females out there richer than your bloodline.
@@veotic2728 and multi-billionaire that ever exist, NOT EVEN ONE is self made. Quitr evident.
Best reaction to getting a deal
This reminds me of that Aussie who " invented" a some kinda special brick while he was backpacking in Vietnam and patented it. Now he's making millions.
HANDS DOWN BEST PITCH EVER
These women were on their A games that day one of the most entertaining pitches in the tank!
Should have started at 25%.
I would’ve agreed to 100k for 90-95% of the business, if only they have some tiny share in it
that was the most obvious screwover by mark and lori that's ever happened
ladies shouldv'e asked for a royalty
They should have asked for a small royalty in pepertuity, 59 cents a roll or something
6:55 Love the shark music swimming around.. " We have to think about it" Mark and Barbra said no .. make up ur mind.. 7:40
Farther Hugo is turning in his grave after it sold for so much more! 💀
They were not business people. They had their own jobs on the side. For them all they wanted to do was keep their father's legacy alive. Making money came second. Good on them for selling it.
Those tape gals really nailed their presentation 👍🏽😄
Hugos rolling they sold his company
Salute to Hugo..... job well done for his daughters. Mark and Lori are Champs!!!!
No wonder they are generous, mark and lori always jump in to support the entrepreneur instead of merely looking for a profitable company
Couldn’t they have kept 5%? Or 10% For 95k or 90k?
Now it’s worth 3,000,000
8:32 - I bet Mark had always wanted to do that to Kevin.
they are keeping their father legacy alive by selling his legacy. wow
Barbara: "You are giving me 100% of your company for zero dollars. Therefor I'm out."
FYI: Katherine Salzberg was born Kathy Maisnik, who was in the short lived 1982 ABC Sitcom "Star Of The Family", which starred Brian Dennehy.
Gosh, I would have loved to have seen them try and negotiate a royalty. Something to where they could still retain a piece of the company!
RIP to their father ✝️🤍
If they had a brother then I guess he could have fought to retain his legacy despite everything.
Otherwise the Sisters seems it was a burden for them and also they didn't understand the business so well hence it's a huge relief for them.
Good deal for Mark & Lori 🎉
A little sexiest but true
They should of countered with a $1 royalty each unit just so they will get paid when they sell a million units etc
100k valuation was too low and it probably only a chump change for lori and mark
Mark almost committed an offside at the end, but nice save
The sharks basically paid $100,000 to find out who they use to manufacture. Great deal for the women!
They sold the company for 6 million dollars.
@@allgoodnamesgonefyi The sharks or the original owners?
Didn't even ask for a royalty
So 50K each. You'd think they won millions for the way they reacted.
Should have asked for 15 cent royalty
Such a great product for 100k. They didn't know what they give up.. I want that tape..
I'm watching this episode now. I'm shocked that Mark and Lori didn't offer them a royalty or at least keeping 5% of the company. 100k is nothing in business.
These two women clearly don't know how to run a business so it's good they are getting out. But wow, I'm just surprised they didn't think to counter even a little.
Even though the company is doing so well now and they sold for only 100k, they just looked so overwhelmed. I think they were out of their depth and knew that. (though I really like to believe maybe theres more to it behind the scenes and they held some equity, even just 5%- not holding my breath though)
nope it was a deal which the sharks agreed to, they would not going to give them 5% or anything.
@@RockBisonQ Yeah, like I said I'm not holding my breath. I just think they should have left the ladies some sort of a scrap of their father's business.
@@fayerayne9540 They said they took care of Hugo's legacy meant they probably kept the name of the products but business people money before all, they don't know these people. They sold business by the way. I understand that you are saying though and agree but that is why we are not billionaire. At one point in my life I was wealthy but all those gone with the wind because of emotional attachment and decision base on emotions.
bad deal. with margins like that they deserved a royalty in perpetuity
They should have kept atleast 10%
“Mark and I have been talking…….and we’re out”
they should have asked to retain some small portion of the company maybe even 5% just to keep some funds coming in their dads name.
True
I would have asked for some sort of royalty from the sharks
I can see selling it if I didn’t have the time to really work at it, but I would of had to get a commission or something forever in the event the product turns into a million dollar business. No way I’m selling it for 100k, that’s 50k each which I’m sure they already got in they 401k. Smh.
You not kidding right.. 🤣🤣🤣