GoodHangups Shark Tank Net Worth 2023
GoodHangups appeared on Shark Tank in 2016 and received a deal from Lori Greiner for $100,000 for 10% equity. The company was valued at $1 million during and after the pitch.
As of April 2022, the company is open and doing $1 million in annual revenue. In 2022, GoodHangups’s founder Leslie Pierson had a net worth of $10 million USD.
It is difficult to predict GoodHangups’s net worth in 2023. However, given that the company has been performing well in sales with annual revenue of $1 million as of April 2022, it is possible that its net worth will increase by then.
What is GoodHangups? Who is the founder of GoodHangups?
GoodHangups are magnetic stickers that are easily removable and can be used to hang a variety of items such as paintings, posters, cards, maps, and more.
They can attach to almost any surface, including wood, stone, brick, glass, and even Ikea furniture, without leaving any marks.
GoodHangups’ magnets are strong enough to hold items for long periods of time, and they can be used as either permanent or removable adhesives on metal, aluminum, glass, and other magnetic surfaces.
The founder of GoodHangups, Leslie Pierson, came up with the product when she needed a way to display her son’s artwork without damaging her walls.
GoodHangups are small metallic disks that can be attached to any solid surface using reusable, non-marking adhesive strips. Artwork or other items can then be attached to the disks using small magnets.
GoodHangups won the “Next Big Thing” sweepstakes on the Today Show in 2015, and Pierson went on to sell the product successfully on QVC.
It’s a great option for anyone looking to display items without the need for framing or worrying about damaging their walls.
GoodHangups Shark Tank Pitch
In the second episode of the eighth season of Shark Tank’s GoodHangups, Pierson seeks funding for a large production run despite already achieving success.
Her goal is to begin selling her products in major retail stores. During the pitch, Pierson requests $100,000 for a 10% stake in her company, which is valued at $1 million.
She impresses the Sharks by showcasing her product and sharing that she has made $450,000 in a little over a year, selling her goods on QVC and in over 100 retail outlets.
Pierson expresses her desire for a Shark’s assistance in expanding into larger outlets, and the Sharks appreciate her profit margins.
Although Mark declines to invest, Lori offers $100,000 for a 20% stake, while Daymond offers $100,000 for 15% equity shares, and Kevin offers $100,000 for 10% equity shares. Kevin encourages Pierson to use his offer as leverage to negotiate with Lori.
Pierson ultimately strikes a deal with Lori, securing a $100,000 loan in exchange for 10% equity shares. If the loan is not repaid within a year, the equity increases to 20%.
After the broadcast, Pierson and Lori complete their deal and appear on QVC together.
Pierson’s product is now sold in major retailers such as Bed Bath & Beyond, Buy Buy Baby, and Amazon, generating $1 million in yearly sales as of November 2021.
Competitors of GoodHangups
The company competes with the following competitors in the market space: 7eye, Readerest, Beard Head, Signal Vault, Lumadent, Jumparoo, and Bubba’s Q.
Net Worth of GoodHangups
The company was valued at $1 million during and after the pitch, since then the company has been performing well in sales with annual revenue of $1 million in 2021. This justifies that the company’s net worth had elevated.
GoodHangups Shark Tank Updates
GoodHangups is a magnetic wall-hanging system that allows users to hang pictures, posters, and other lightweight objects on their walls.
The product appeared on Shark Tank in Season 8 Episode 2, where founder Leslie Pierson pitched the product and secured a deal with Lori Greiner for $100,000 for 10% equity. As part of the deal, Pierson had to pay the money back within a year.
Since appearing on Shark Tank, GoodHangups has been successful. The product has won the Today Show contest, sold out on QVC at least twice, and become an official Shark Tank product.
The company has also expanded its retail presence, with the product now available in Bed Bath and Beyond, buybuyBaby, and Amazon. As of April 2022, the company is open and doing $1 million in annual revenue.
Leslie Pierson, the creator, and CEO of GoodHangups, has shared her Shark Tank experience on the company’s website. She was a super fan of the show and had watched every episode before deciding to apply.
Pierson found the experience of pitching to the Sharks invaluable and received powerful feedback on her product and business from all of them.
Summary Table: GoodHangups Shark Tank
|Product||Magnetic wall hanging system for lightweight objects|
|Shark Tank deal||$100,000 for 10% equity from Lori Greiner|
|Company valuation||$1 million during and after the pitch|
|Annual revenue||$1 million (as of April 2022)|
|Founder’s net worth||$10 million (as of 2022)|
|Competitors||7eye, Readerest, Beard Head, Signal Vault, Lumadent, Jumparoo, Bubba’s Q|
|Retailers||Bed Bath & Beyond, buybuyBaby, Amazon|
|Key features||Damage-free, removable, reusable, works on most surfaces|
|GoodHangups FAQs||Product details, usage instructions, and compatibility information|
What Is GoodHangups And How Does It Work?
GoodHangups is a damage-free magnetic hanging solution that allows users to hang posters, prints, photos, and cards up to 24″ x 36″ on virtually any surface without damaging the walls or the art.
The product consists of MagnaStickers and magnets that adhere to walls and surfaces without creating holes or leaving residue.
GoodHangups work on most surfaces such as brick, concrete, textured walls, cinder block, wood, stone, tile, stainless steel, drywall, and plaster.
The product is reusable and can be used again and again as long as the adhesive area of the sticker remains free of dust and skin oils.
GoodHangups was created by Leslie Pierson, who appeared on Shark Tank in 2016 and secured a deal with Lori Greiner for $100,000 for 10% equity.
The idea for GoodHangups was born out of inspiration from Pierson’s son, who had a huge burst of creativity and was making tons of art daily.
Pierson wanted to display the art but also wanted to be able to change it out regularly without damaging the walls or the art.
Who is the founder?
Leslie Pierson, founder of GoodHangups is the author of “Sticky Art with GoodHangups”.
What Was The Outcome Of GoodHangups Shark Tank Pitch?
GoodHangups appeared on Shark Tank in Season 8, Episode 2, which aired on September 30, 2016. Founder Leslie Pierson pitched her product, which is essentially a magnet that can be stuck to a wall to hang up pictures, posters, and other lightweight objects.
Pierson asked for $100,000 for a 10% stake in her company, which was valued at $1 million. Lori Greiner made a deal with Pierson for $100,000 for 10% equity, as long as she paid the money back within a year.
Since appearing on Shark Tank, GoodHangups has continued to be successful. Pierson won the “Next Big Thing” sweepstakes on the Today Show in 2015, and went on to sell the product successfully on QVC2. The company was valued at $1 million during and after the pitch.
The Shark Tank Blog provides updates and follow-ups about entrepreneurs who have appeared on the show, and it reports that Pierson’s deal with Lori Greiner is still in place.
What Happened To GoodHangups After Its Appearance At The Shark Tank?
After appearing on Shark Tank in 2016, GoodHangups received a deal from Lori Greiner for $100,000 for 10% equity. The company was valued at $1 million during and after the pitch.
The deal with Lori was completed after the show aired, and Leslie Pierson, the founder of GoodHangups, left the pitch with a deal. The product is currently available at Bed Bath & Beyond, Buy Buy Baby, and Amazon.
The company has continued to grow and expand its product line. In the three years following the Shark Tank appearance, the company did $5.3 million in sales.
As of April 2022, the company is open and doing $1 million in annual revenue. Leslie Pierson, the founder of GoodHangups, is also the author of “Sticky Art with GoodHangups”.
How much was she asking on Shark Tank?
Leslie was asking for $100,000 for 10% equity stake of her company.
Did she have the deal?
She got a deal on Shark Tank, Lori invested $100,000 for 10% equity stake and they sold out in QVC.
Is GoodHangups still in business?
It is still in business and has been selling well as of November 21, 2021.
What are the customers saying about GoodHangups?
The customers were very happy after using these magnetic stickers to display the pictures. They were happy that they no longer need to nail or use adhesive on the walls. It was really impressive solution.
How much is GoodHangups?
1 pack of 12 is $14.99 from Amazon.
Is GoodHangups profitable?
The company is highly profitable, the sales are profitable and that causes the net worth to elevate.
Is GoodHangups a scam?
GoodHangups is not a scam; it is a tool for creating art and displaying it. Some people make money from the tools and tools don’t mean that people are making money.
Do you sell GoodHangups in bulk?
Yes, we have an entire inventory of GoodHangups in our warehouse located near Los Angeles, CA.
Can GoodHangups do shipping?
Yes, they offer shipping options to their customers.
Do you sell GoodHangups in other countries?
Yes, they do ship to USA, Canada and all over the world.
Is GoodHangups really a good quality product?
GoodHangups is totally made by high quality materials (high grade metal or plastic). They are no way related to low-end products of the market (like fake houses or other deceitful items). They are exact replicas of the original items used in schools and commercial centers.
What are GoodHangups made of?
GoodHangups are made of polypropylene, which is standard clear acrylic plastic.
Does GoodHangups offer discount on shipping?
Yes, they offer free shipping and email notifications on tracking.
Can GoodHangups be used for walls?
Yes, but one need to use a sheet of metal underneath it to hold them up properly. This can be done with several types of metal; aluminum works well, as does steel or stainless steel.
Can I cancel my order?
Yes, customers can cancel the order for any reason.
Do you ship worldwide?
Yes, they will deliver to any part of the world. Unfortunately, they do not ship to Afghanistan, Iran and Sudan.
Do GoodHangups come with a warranty?
GoodHangups comes with a 90-day warranty from date of purchase or when it arrived in their hands. Warranty does not apply to buyer damage due to misuse or improper installation.
What is return policy of GoodHangups?
Customers can return any item they purchased within 30 days of purchase date or when it arrived in their hands.
How do I install GoodHangups?
GoodHangups uses a paper backing to hold the magnet in place, meaning that one simply has adhere the paper to the surface, with the magnet facing down. It is really simple.
What is the net worth of Leslie Pierson?
Leslie Pierson net worth is unknown.