Shark Tank Rejects Huupe, Which Later Achieved $20 Million in Sales
Smart basketball hoop maker Huupe, whose founders were rejected on Shark Tank and never aired, has now achieved $20 million in sales with its newer product.
Huupe, a manufacturer of smart basketball hoops, has generated $20 million in sales within the first 15 months following the release of its Huupe Mini model. The company, founded in 2019 by Paul Anton and Lyth Saeed, previously faced a setback when their appearance on the popular television show Shark Tank was rejected, and their segment was ultimately not aired.
The founders had invested their life savings into the venture, and the Shark Tank rejection was a significant blow, particularly as it deprived them of the show's associated publicity. Huupe has since raised $11 million in funding over three rounds.
The initial concept for Huupe emerged when Anton and Saeed, childhood friends from Milwaukee, developed a game for augmented reality glasses. Recognizing the limitations of that technology, they decided to apply it to the backboard of a basketball hoop. They initially created a single prototype that they transported around the country to demonstrate to potential investors.
The success of the Huupe Mini highlights the company's resilience against setbacks and its ability to develop a product that resonates with consumers. The company continues to pursue growth within the sports technology sector.