Sisters Katherine Saltzberg and Lauri Fraser want to stick a deal with a Shark for Hugo’s Amazing Tape in Shark Tank episode 921. They are the daughters of Hugo Maisnik who invented the adhesive-free “tape” by accident back in 2002. Hugo’s Amazing Tape has hundreds of uses and it’s very popular with folks who like to sew. It’s super strong, self adhesive and reusable.
When Hugo first unveiled the tape at INPEX (an inventor’s show), he was “flooded with offers” from many companies to distribute the product. He didn’t want to give away his invention, so he marketed it himself. Now his daughters are taking over the business. Both women have acting backgrounds. Katherine played Brian Dennehy’s 16-year-old daughter in the ABC sitcom, Star of the Family. Lauri has many film credits as a voice actress in animated films and shorts. She most recently “starred” as Mrs. Olsen in the Disney/Pixar short Olaf’s Frozen Adventure.
Hugo’s Amazing Tape comes in 1/2 inch, 1 inch and 2 inch widths in rolls of 50 foot length. Prices range from $12.99 to $15.99. The product is available on Amazon and many other eCommerce websites, including WalMart.com. So far, it hasn’t been on store shelves, but perhaps Saltzberg and Fraser want a Shark to help them with that. Will a Shark think this product is amazing?
Hugo’s Amazing Tape Company Information
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Posts about Hugo’s Amazing Tape on Shark Tank Blog
Amazing Tape – Tape Without Glue?
Hugo’s Amazing Tape Shark Tank Recap
Katherine and Lauri enter the Tank seeking $50,000 for 50% of their business. They have a theatrical pitch while demonstrating the versatility and strength of the tape through a variety of visuals. When they’re done, they hand out samples. The Sharks fiddle with their samples. The ladies explain how their father, Hugo, invented the tape. Sadly, he passed away earlier in the year and the patent expired with his death.
The women buy a roll of tape for $1.27 and sell it for $12.99. They sold $500,000 in the previous 2 years but only $27,500 in the current year. They sell online from their website . Since the product comes from Taiwan, Mark is convinced they are getting knocked off. Both women have other businesses and careers, they just want to see the product succeed to preserve their father’s legacy.
Kevin thinks their pitch was “good bad theater,” but it’s not investable; he’s out. Robert isn’t sure where the business is; he’s out too. Barbara goes out and tells the women to just sell the business. Lori and Mark then offer to buy the whole company for $100,000 and the women agree.
Hugo’s Amazing Tape Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Lori and Mark did buy the company and they blew things up. Hugo’s is in Walmart and on Amazon. There are several rumors circulating that Mark and Lori sold the business, but I have a different theory.
The business is still listed on Mark and Lori’s websites and a reliable business site lists Katherine and Lauri as members of the company’s executive team. The same site lists Mark and Lori as investors. Now remember Katherine and Lauri are both actresses, but I don’t think they’re stupid. Why would anyone sell a company that had well over a half of a million dollars in sales for $100,000? As charming as the concept of preserving their father’s legacy is, I’m sure he wouldn’t want his legacy to be that his daughters are knuckleheads. As of July, 2024, the company is doing $3 million in annual revenue. I believe this was an orchestrated pitch that was way more TV than reality!
