Hugo's Amazing Tape Owners Keep Their Father's Legacy Alive! | Shark Tank US | Shark Tank Global

[@RebeccaDhillon]

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

[@denispetsch7769]

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.

[@funnysunday8167]

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.

[@cnachopchopnewsagency]

Thats why having daughters is worthless. They can never bring the legacy and keep the family name to the business ownership.

[@janecoe9407]

THEY ARE ACTORS. THEY GETTING THE TAPE FROM CHINA AND SELLING IT, THEYNEVER INVENTED ANY OF IT.

[@younishijazi4986]

@@cnachopchopnewsagency Wouldn't say useless, moreso that you should also have a son if u want to preserve the family name

[@alejandravillarreal4158]

I really feel that Mark and Lori took advantage of the situation.

[@kanepoe.]

You think sharks are nice?

[@RicardoTorres1]

What situation? Those ladies had nothing. No sales, no patent, nothing! If anything, they only made an offer out of pity.

[@SpinningToWin]

One of the most entertaining pitches in quite a while

[@Scott-got-caught]

For that reason, Barbara is out

[@theempire00]

Yes!

[@joe-op2gr]

@@Scott-got-caught if she's out, then im in

[@Stufftough]

GET BARBARA OFF THE SHOW

[@rahimmahtab2993]

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

[@mickeysofine6386]

Thats what I thought.

[@TimS.]

Yep I would've countered with a 2% royalty in perpetuity

[@ayumuchan3541]

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.

[@Tortilla.Reform]

Sometimes you need to learn to let go

[@cnachopchopnewsagency]

Thats why having daughters is worthless. They can never bring the legacy and keep the family name to the business ownership.

[@rickylee1986]

Mark & Lori are after the first-mover advantage. When they are smiling but not expressing anything, it implies there is something valuable there.

[@sammyboss-yc2kr]

Exactly

[@KarynaNationArt]

What's Mark and Lori's background?

[@shc002]

They sold themselves short. Lori & Mark sure did take advantage

[@bhargavikaveti1328]

Not sure of being taken advantage but yes they sold themselves short

[@IceBioshock]

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

[@lmaobro-we7ig]

Update: Lori and Mark sold the business to a private equity company for $6,240,000

[@valeratkanta9682]

Thank you for updating

[@ejicon3099]

Sheeeeeeeeeeeeeeeeee'it. Goodness. I really hope they gave these two ladies a larger parting gift amount.

[@singstreetcar5881]

@@ejicon3099 they are not entitled to anything. This is business

[@ejicon3099]

@@singstreetcar5881 Obviously they're not. I'm just saying, it would be a nice gesture.

[@singstreetcar5881]

@@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

[@hmikey5680]

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

[@iliya3580]

These two should be a comedy duo, they're amazing

[@tyrellcobb4665]

Seems like there's a lot of unrealized talent in that family.

[@MrFoxALot]

They wanted to honor their father but immidiately sold his company, like what

[@RockBisonQ]

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.

[@sameerkadam4830]

their father watching from heaven saying damn these kids sold my invention for only 100k

[@Vxccine1234]

Looooooool

[@friendlyone2706]

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.

[@friendlyone2706]

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.

[@adingdingdiiing6740]

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.

[@GeddyRC]

They should have pulled a reverse Mr Wonderful and asked for a $0.25 royalty on every sale or something like that.

[@LV2UXO77]

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.

[@HandlesL]

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

[@johnl.7754]

Amazing tape might’ve made $100k profit just from Shark Tank airing on TV and KZbin 😂

[@lisag.2902]

yeah, i was sad, they should have kept some retainership, I knew that would happen, they got ripped is what happened.

[@pemarts]

They really needed money...uau

[@jakemontana4129]

They are clearly not money oriented people, they don’t know what this business could be worth

[@RaeBattleRapsMood]

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!!

[@mw3is]

Yes it’s still going generating millions in revenue!

[@adingdingdiiing6740]

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.😅

[@chriscope7292]

they should have asked for a small royalty

[@denispetsch7769]

@@chriscope7292 For sure, I'm betting they would have gotten it all things considered.

[@AlChilazoLife]

So stupid, could have gotten at least 10%

[@stevepeterson5943]

When they heard sell 100%, they should have cradled that portrait, and said, "you know . . . Dad's favorite number was 75 . . ."

[@coldblooded568]

This is the best pitch ever OMG! I love these ladies' personalities!

[@jenniturtleburger3708]

He bought it out for peanuts. To not get any kind of royalty small ownership percentage seemed like a huge mistake.

[@weilixu4879]

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.

[@WonkaVator72]

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.

[@theempire00]

Yes! OMG, a royalty deal would’ve been THE BEST counter. And I think the sharks would’ve accepted it 😢

[@williefr]

I thought the same! A royalty would have been the best option for them. Sad to see they didn't come up with it.

[@RockBisonQ]

yep that would keep their dad legacy in my opinion.

[@cnachopchopnewsagency]

Thats why having daughters is worthless. They can never bring the legacy and keep the family name to the business ownership.

[@timtaylor1365]

They killed it with their pitch...

[@anovosedlik]

These sisters are FANTASTIC and the product actually looks incredibly useful!

[@deepsavla6754]

Mark taping kevins mouth shut was perfect

[@ejicon3099]

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.

[@bhargavikaveti1328]

It shows they both are talented and generous enough to invest in a seemingly ripped off product

[@ejicon3099]

@@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.

[@venaautos]

What is BB&B?

[@bhargavikaveti1328]

@@venaautos bed bath and beyond, i guess

[@ejicon3099]

@@venaautos Bed Bath & Beyond

[@loua4773]

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.

[@DetroitTyler]

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.

[@abowden5079]

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.

[@latoyaboston3845]

At least a royalty or something

[@cnachopchopnewsagency]

Thats why having daughters is worthless. They can never bring the legacy and keep the family name to the business ownership.

[@abowden5079]

@@cnachopchopnewsagency ^ this is why you're worthless

[@Jeremiah-ki6fd]

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 😂!!!!

[@brokenpropproductions]

We are on the same page, LOL , Pure Bondage tape , wonder where their dad picked it up. ? LOL .

[@virg0_lem0nade]

LOOOOOL THIS IS HILARIOUS 💀

[@actionjackson6189]

Hugo Tape, so strong it can even keep Mr.Wonderful' Speechless

[@ExpEcer]

These women were on their A games that day one of the most entertaining pitches in the tank!

[@turbojaxx1641]

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.

[@FreezyDiamond]

Should have asked for a small royalty if they were selling the whole company. Even 0.25 cents per sale or something would be huge eventually

[@cumacinabiasa]

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.

[@MrHadi0099]

"Barbara this is something for you". Barbara: "I agree and for that reason I am out"

[@BrentFiore]

I was skeptical so I tested it and it worked perfectly! I'm out

[@NycForgiato]

Waiting for the fake lame comments like “hey, sucks that they sold it because company is now worth 1.5 trillion”

[@MikeFarnhamGalaxysEdgeGroup]

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.

[@Arthuur9]

Millions??

[@brittanydeweaver6123]

They were so happy over $100,000 😭

[@stevepeterson5943]

If they sold the company, they sold the company. What do you mean by "still involved?"

[@DetroitTyler]

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.

[@miketwomey4923]

They each should've held out for 7.5%...

[@kevindunlap5525]

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.

[@beans7565]

Wait so they’re pitching their “creative” dads tape idea but he didnt even CREATE IT, its like me getting mail and then “creating” envelopes

[@PAVEL-JAKL]

I only watch shark tank US..👌

[@Gg-ij7li]

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 ❤😊❤

[@sapbison]

I must agree with you for this.

[@Urineil]

Same. Tried to watch AUS. It sucked.

[@rensaudade]

@@Gg-ij7li lol

[@nihith323]

You and me bro

[@goyomojotech]

Honestly I feel like it would be smart for them to keep even 5%. I think Mark and Lori would have allowed that.

[@markqara723]

They should of asked for a life time Royalty.

[@brokenpropproductions]

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

[@Jeremiah-ki6fd]

Just read this- I commented the same thing 😂.

[@brianconlogue1302]

I said the same thing! Lol

[@Yojerome303]

Damn I would’ve fought for a couple percents, could’ve been set for life

[@mrhumble2937]

Right or sell it and say 50 cent royalty per sale or something.

[@miketwomey4923]

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...

[@rynichols]

Sharks took advantage here - whole thing obv way more than sum of parts

[@ianlister7333]

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%

[@knifeauction]

A legacy lives on and on. They should have asked for 10cents in perpetuity=forever Mark and laurie wanted that tape !!!

[@swisscheeseoo7487]

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

[@TheNinjapancake14]

It seems that a business burden was lifted off their shoulders but I wish they still negotiated some percentage for themselves

[@orangesloth2296]

This is what happens when you leave stuff to your kids lol

[@michaeltudda5174]

If you have parents who leave stuff to their kids

[@bby7106]

Exactly my thoughts

[@Godlystriker]

They should do a show, I'd watch them all day

[@tjjames2296]

They're great actresses and did a good presentation!

[@jaymavs]

If you cannot pitch your product/idea with the level of excitement these two showed, you best stay home.

[@datmeme8967]

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.

[@CC-kl4nh]

This is so sad. A man spent 20 years and discovered a product. The savy business people comes in and buys low with a smile. Those women were too old to run a business and they knew it.

[@annsmith7207]

Should have added a royalty along with the outright purchase

[@birrai5220]

OMG THIS IS FREAKING AMAZING. WHY GIVE 50%

[@tsunax1400]

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

[@AdamBechtol]

And it sounds like anyone can call a factory in Taiwan and get it.

[@user-lo3oj7pi2v]

@@AdamBechtol Yup you most definitely can! Lol

[@sensennsen]

I like how they fully went on convincing stage and then the mood changes.

[@KeijiSuwa]

8:32 - I bet Mark had always wanted to do that to Kevin.

[@Dangerouscow999]

sold their fathers legacy in a heartbeat :D

[@lukealadeen7836]

Women am I right?

[@teddym2808]

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.

[@RewindBloomington]

You don't know the difference really though, do you?

[@RRR-vr7cd]

no patent

[@shreeshabhat9281]

Were you sleeping while watching the video? Its only a product and not a company coz they don't have a patent, they don't have any kind of deal with the manufacturers so anyone can go to them and start buying and they aren't in any retail and they have barely sold anything

[@cwilliams9587]

Best reaction to getting a deal

[@mrhumble2937]

Should have started at 25%.

[@beyondm5167]

They did not seem to care about their dad's legacy. It was just a selling point.

[@dha588]

All you had to do was sell this tape at walmart, amazon, ebay, target, etc. And youll make more than 100k.

[@gian-lucbrasseur6200]

Why didn't they ask for 5% of the company or some form of equity????

[@MtownsGreatest]

Barbara: Now THIS is something I can get behind. Absolutely brilliant and in my wheelhouse. And for those reasons, Im out.

[@gypsyfirefly8009]

Those tape gals really nailed their presentation 👍🏽😄

[@AnthonyW1992]

HANDS DOWN BEST PITCH EVER

[@grimezi]

Farther Hugo is turning in his grave after it sold for so much more! 💀

[@atsukinetsu]

Barbara: “this stuff works, and for that reason I’m out” 😂

[@estebbesfunnyclips]

Barbara: "I'm sorry you ladies have two legs and heartbeat, and for those reasons I'm out!! "

[@samwright285]

😂😂😂😂

[@mattengels9402]

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.

[@kibiholder5170]

The way mark and Lori high five ,lol

[@ejicon3099]

Cha'ching! High Five

[@lukemorton5055]

The sharks basically paid $100,000 to find out who they use to manufacture. Great deal for the women!

[@allgoodnamesgonefyi]

They sold the company for 6 million dollars.

[@lukemorton5055]

@@allgoodnamesgonefyi The sharks or the original owners?

[@mohamedothman7445]

I love the presentation!! The ladies are amazing!!!

[@ryant1648]

They’re also terrible businesswomen. Mark and Lori bent them over.

[@johnl.7754]

Amazing tape might’ve made $100k profit just from Shark Tank airing on TV and KZbin 😂

[@LifeCoachJesse]

They made a great decision in the end. They were not full-time in the business so it was not going to grow to the 3 million/year reported revenue now. You give something of value to a millionaire and billionaire they have the skills and knowledge to turn a 500k lifetime revenue to 3 millionaire in a year so they get to reap the benefits of that. The ladies could of asked for 1% of yearly sales in perpetuity or something of that nature. Like someone in the comments said they were willing to sell because they were done of running it while still working. It also appeared that their mission was for the name of the company to remain and for the world to know the brand, they trusted Mark and Lori to get there. Great episode. These ladies are talented.

[@friendlyone2706]

Pity these women never did a QBC ad themselves.

[@matthewbrenton2711]

Wow they got robbed. The sharks are gonna take that 100k and flip it to a million dollars if not a multi million dollar company….why didn’t they at least keep some equity

[@paranirvana8]

Couldn’t they have kept 5%? Or 10% For 95k or 90k? Now it’s worth 3,000,000

[@dancingmeerkat2078]

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!

[@Zishe_Singer]

These poor women know so little about business and negotiating 😢

[@katastrophe_ttv3033]

RIP to their father ✝️🤍

[@gavinshafer]

that was the most obvious screwover by mark and lori that's ever happened

[@felix_15h]

Mark almost committed an offside at the end, but nice save

[@DatsFamily]

I would’ve agreed to 100k for 90-95% of the business, if only they have some tiny share in it

[@Zishe_Singer]

Basically clingfilm

[@darinhudson6571]

Salute to Hugo..... job well done for his daughters. Mark and Lori are Champs!!!!

[@bhargavikaveti1328]

No wonder they are generous, mark and lori always jump in to support the entrepreneur instead of merely looking for a profitable company

[@P00katube]

FYI: Katherine Salzberg was born Kathy Maisnik, who was in the short lived 1982 ABC Sitcom "Star Of The Family", which starred Brian Dennehy.

[@davidhouse7189]

They got robbed 100,000 for the whole company they should have asked for more money

[@CC-kl4nh]

They should have key royalties.

[@gimpyrules6714]

I don't get why they are so happy It's just 100k before taxes I would of asked for a little royalty payout

[@spidartanks]

They should of countered with a $1 royalty each unit just so they will get paid when they sell a million units etc

[@neilpowell5285]

We'll be seeing the tape on QVC soon.

[@anthonyp2312]

Man mark stumbled in his words he was excited what a deal 🤣

[@bizoot1]

ladies shouldv'e asked for a royalty

[@ladyjaymie]

Such a great product for 100k. They didn't know what they give up.. I want that tape..

[@thethoughtthatcountspodcas1581]

Robert: “this is an amazing business for a shark to get into. NOT ME THOUGH! Barb is gonna make you an offer.”

[@jackcarren8781]

This isn't first to market. Multiple companies have been selling this stuff for years.

[@josephsummers2427]

Which ones?

[@letradavis8260]

Say what???‼️‼️🤦🏾‍♀️ How in the world did they get swindled out of their Father’s legacy. They won’t be receiving anything after the initial payoff. Nothing 😢 When I create things, I want my children to continuously benefit from it after my passing.

[@tiffany4798able]

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.

[@xlncy]

They should have kept atleast 10%