GoodHangups Shark Tank Update | GoodHangups Net Worth 2024 (2024)

GoodHangups is a product that made a notable appearance on Season 8 of the popular TV show Shark Tank. It’s an inventive solution designed to ease the process of hanging and displaying items, specifically targeting the difficulties of putting up posters, photos, cards, and more without causing damage to walls or the items themselves.

GoodHangups consists of magnetized stickers and corresponding magnets. The sticker, which is removable and reusable, is placed on the wall while the corresponding magnet holds the item in place.

These magnets provide a secure hold without needing nails, thumbtacks, or tape, eliminating the risk of damaging the wall or hanging item. GoodHangups’ versatility stands out among its features. It suits various surfaces, including brick, concrete, wood, glass, and even textured walls.

Its adjustability is another noteworthy feature. If you’re unsatisfied with their initial placement, moving objects without leaving any residue or marks on the wall is easy. GoodHangups are versatile enough to be used both for temporary and permanent displays.

GoodHangups is an excellent choice for many reasons. First and foremost, it addresses a common household problem and offers a unique, convenient solution.

The easy-to-use system doesn’t require any tools, making it an excellent choice for people who aren’t handy or simply want to avoid the hassle of traditional hanging methods.

Furthermore, its non-damaging nature allows renters and students in dorm rooms to personalize their spaces without worrying about losing security deposits due to wall damage.

GoodHangups’ reusable feature makes it eco-friendly by reducing waste by eliminating the need for disposable tape and adhesive strips. GoodHangups is a product that delivers convenience and flexibility for anyone who wants to hang things on their walls.

What Is GoodHangups?

GoodHangups is a product that transforms your walls, doors, windows, or virtually any flat surface into a magnet board. It’s a solution for hanging posters, photos, cards, and much more without causing any damage to the surface or the item you’re hanging.

Here’s how GoodHangups works:

• GoodHangups consists of two parts: magnet stickers and small round magnets.
• The magnet stickers are removable and reusable. You simply stick them on the wall where you want to hang your item.
• You then place your item (like a poster or a photo) over the sticker and use the small round magnet to secure it.
• The magnet sticks to the magnet sticker through your poster, holding it up without any need for tape, tacks, or frames.

GoodHangups system allows you to rearrange items as often as possible without wall damage. It suits various surfaces, including brick, concrete, wood, and glass.

GoodHangups is a versatile product that’s great for everyone, from college students wanting to decorate their dorm rooms to parents who want to display their children’s art. It also makes decorating for parties or events easy since you can quickly put up and take down decorations.

Who Is The Founder Of GoodHangups?

GoodHangups was founded by Leslie Pierson, an entrepreneur with a creative mind and a knack for problem-solving. Before founding GoodHangups, Pierson held various roles in large and small companies, providing her with broad skills and experiences.

Her professional background includes a successful career in marketing, operations, and business development, but it was her personal life experiences and her role as a mother that inspired the creation of GoodHangups.

The conception of GoodHangups stemmed from Pierson’s need for a damage-free and easy solution to display her son’s artwork at home. Traditional methods like tape or thumbtacks damaged the walls or the artwork and were difficult to adjust or move around.

Pierson developed a solution after realizing that many parents and homeowners may face the same problem. She set out to design a product that was functional, easy to use, affordable, and adaptable to various surfaces and wall hangings.

Before GoodHangups appeared on Shark Tank, the product was already gaining momentum. Pierson conducted a successful Kickstarter campaign in 2015 to raise funds for the initial production run.

The campaign exceeded its target goal, demonstrating a strong market interest in the product. The positive feedback and support received from the crowdfunding campaign gave Pierson the confidence to present her product to a wider audience, leading her to apply to Shark Tank.

In the period leading up to the Shark Tank appearance, Pierson worked hard to fine-tune the product and its manufacturing process. She also invested time and effort into marketing GoodHangups, establishing the brand, and creating a customer base.

Despite the initial success and positive feedback, appearing on Shark Tank was a significant milestone for GoodHangups, providing greater exposure and potential investment opportunities.

How Was The Shark Tank Pitch Of GoodHangups?

The Shark Tank pitch of GoodHangups, delivered by founder Leslie Pierson, proved quite successful. In Season 8, Episode 2, Leslie introduced the product of GoodHangups, magnetic wall hangers that were easy to apply, adjust, and remove without damaging the wall or the hung items.

She emphasized the convenience and flexibility of these magnetic hangers that cater to various surfaces and potential use cases like hanging pictures, posters, and other lightweight items.

Leslie sought an investment of $100,000 in exchange for 10% equity in the company, valuing GoodHangups at $1 million.

She backed up her pitch with impressive sales numbers, stating that GoodHangups had already achieved $450,000 in sales over the past 12 months before the Shark Tank appearance.

These sales were partly attributed to Leslie’s successful appearances on QVC, which accounted for half of the total sales.

The Sharks responded positively to GoodHangups and Leslie’s presentation. Not only were they impressed by the product and its potential, but they also appreciated the proven market validation and sales history.

Leslie found herself fortunate with three Sharks – Lori Greiner, Daymond John, and Kevin O’Leary – showing interest in investing. However, each Shark had a different proposal.

Lori wanted 20% equity for the $100,000, Daymond offered the same amount for 15% equity, while Kevin offered the same for only 10%. It’s worth noting that Kevin stated his offer was primarily to provide Leslie with negotiation leverage against Lori.

Leslie showed her negotiation skills by countering Lori’s offer. She ultimately secured a unique deal with Lori Greiner: a $100,000 loan for 10% equity, with an agreement that the loan would be paid back within a year or the equity would double.

This arrangement offered both parties a safety net while demonstrating Leslie’s confidence in her business.

The Shark Tank appearance was highly beneficial for GoodHangups. As of 2020, the product was still successfully being sold, garnering nearly 800 positive reviews on Amazon.

Leslie has publicly shared her appreciation for the feedback she received during her Shark Tank experience, describing it as “invaluable” to the continued success of her business.

What Happened To GoodHangups After Shark Tank?

After appearing on Shark Tank, GoodHangups enjoyed a significant boost in business. The product visibility and endorsem*nt from Lori Greiner led to an uptick in sales, and the company continued to prosper.

As of 2020, the product had received nearly 800 positive reviews on Amazon, indicating strong customer satisfaction and substantial sales volume.

Furthermore, Leslie Pierson continued to refine and expand her product line, catering to different customer needs. She maintained a variety of package sizes, thus appealing to a broad range of customers who may want to hang different quantities or sizes of items.

Leslie’s continued involvement in actively marketing the product, appearing on QVC regularly, and leveraging the platform’s vast audience contributed to GoodHangups’ post-Shark Tank success. These appearances boosted sales and contributed to the company’s credibility.

Despite the challenges of running a business and fulfilling a Shark Tank deal, GoodHangups persisted and prospered. The powerful feedback and the deal with Lori Greiner proved instrumental in shaping the company’s growth trajectory.

The business continued to flourish, living up to the promise it showed during its Shark Tank pitch. GoodHangups continues providing a versatile, damage-free solution for hanging art, posters, and more, thus solidifying its market position.

GoodHangups Shark Tank Update

After appearing on Shark Tank, GoodHangups experienced significant growth and success. The magnetic wall hanging system, pitched by founder Leslie Pierson on Season 8, Episode 2 of Shark Tank, garnered positive attention and a deal with Lori Greiner.

The product’s unique design, which utilized small metallic disks with reusable adhesive strips and magnets to hold artwork without damaging walls, resonated with the Sharks and the audience.

Following the Shark Tank appearance, GoodHangups capitalized on its increased exposure and popularity. The product won the Today Show’s “Next Big Thing” contest in 2015, further boosting its presence in the market. It performed well on QVC, with Leslie’s appearances driving sales and expanding its customer base.

The deal Leslie secured with Lori Greiner involved a $100,000 investment in exchange for 20% equity in the company. This partnership proved fruitful, allowing GoodHangups to scale its business and expand its distribution.

GoodHangups products are available at major retailers such as Bed Bath and Beyond, buybuyBaby, and Amazon, reaching a wide audience and boosting sales.

The company has achieved significant financial milestones. GoodHangups was generating $1 million in annual revenue, and in the three years following its Shark Tank appearance, it had achieved total sales of $5.3 million, showcasing sustained growth and customer demand.

Leslie Pierson, the Creator, and CEO of GoodHangups, shared her positive experience preparing for and being on Shark Tank, highlighting the importance of commitment and being open to feedback.

Her journey from a Shark Tank fan to a successful entrepreneur with a featured product demonstrates the impact the show can have on aspiring business owners.

GoodHangups capitalized on its Shark Tank exposure, cementing its market position and experiencing significant revenue and sales growth. The company’s continued presence in major retailers and its expanding customer base reflects the enduring appeal of its damage-free wall-hanging solution.

Is GoodHangups Still In Business?

Yes, GoodHangups is still in business. The company remains operational and offers its magnetic wall-hanging system for displaying artwork without damaging walls.

The product, founded by Leslie Pierson, gained popularity and secured a deal with Lori Greiner on Shark Tank in 2016. The deal involved a $100,000 investment for 10% equity, with the company valued at $1 million at the time of the deal.

Since its appearance on Shark Tank, GoodHangups has experienced growth and success. The company generated $1 million in annual revenue and achieved total sales of $5.3 million in the three years following its appearance on the show.

The product’s versatility and damage-free hanging solution has contributed to its continued presence in the market, with the company expanding its product line and offerings.

Despite some challenges customers report, including issues with the stickers and magnets in certain cases, GoodHangups remains operational and provides a 30-day return policy for customers who may encounter any problems with their purchases.

GoodHangups is available for worldwide shipping, allowing customers from various regions to access and benefit from this unique hanging solution.

In conclusion, GoodHangups is still active and offers its magnetic wall-hanging system, catering to those seeking a damage-free solution for displaying artwork and posters on various surfaces.

What Is the Net Worth Of GoodHangups?

According to our research, the net worth of GoodHangups is estimated to be $10 million. The valuation of GoodHangups was $1 million after securing an investment from Lori Greiner on Shark Tank.