Many parents face challenges in feeding their kids without creating too much of a mess. They find easy and affordable ways to feed and store food for their children especially if both of the parents are working and have a busy routine. Parents can’t find any way through which they can keep the food organized and fresh while avoiding leaking or any mess which is a huge problem for parents.
Lisa D’Amato, as a mother of two kids, also faced this problem and came up with a clever solution for all the parents. She introduced a product which is a bib that can be used both as a bib and a food storage container, and also a plate divider as it has portions to save a variety of food. This product is made to help parents and children enjoy mealtimes more. It lets parents keep their kids’ meals organized and ready to eat even when they are out.
The founder, Lisa presented her creative idea to Shark Tank and demanded $350,000 for a 10% stake in her business. She completely explained the functions and the properties of the product during her pitch to convince the sharks so let’s see did she succeed in attracting the sharks towards her business idea.
Dare U Go Net Worth
Lisa D’Amato asked for a $350k investment in exchange for 10% equity in her company. This meant she valued her company at $3.5 million. She made a deal with Barbara Corcoran for $150k in exchange for 35% of her company plus a $200k loan. This new deal valued her company at approximately $428,571. After the show aired, Dare-U-Go saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Dare U Go is about $40 million.
Dare U Go Shark Tank Update
What Happened To Dare U Go After Shark Tank?
After Shark Tank, Dare-U-Go experienced significant growth and achievement. It proved to be a wise option for Barbara Corcoran to invest in the business. Dare-U-Go increased its audience and gained popularity in multiple countries across the world, and its sales have improved yearly.
Dare-U-Go is still in business as of 2024. Their products are easily available online, particularly on Amazon and also their own website is live. The founder, Lisa D’Amato, has reportedly profited greatly from her success as well, her net worth is currently over $40 million.
Did Dare U Go Get A Deal On Shark Tank?
Yes, their company got the deal in Shark Tank with Barbara Corcoran as she offered Lisa $150k plus $200k as a loan for a 35% stake. At first, Barbara Corcoran made an offer of $350,000 for 50% shares as she thought Lisa needed more help to manage the company well, but Lisa was unwilling to give up half of her business.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Barbara | 1# $350k for a 50% stake 2# $150k + $200k as a loan for a 35% stake | N/A | Yes |
| Kevin O’Leary | 1# $100k + $250k as a loan for a 15% stake 2# $100k + $250k as a loan for a 20% stake 3# $100k + $250k as a loan for a 25% stake 4# $100k + $250k as a loan for a 30% stake | N/A | No |
| Lori Greiner | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Lisa D’ Amato Backstory
Dare-U-Go’s founder, Lisa D’Amato, was motivated to develop her product as she felt the need for it by herself. Being a mother herself, she knew how challenging it might be to feed kids on the go and was seeking a more practical and well-organized method of storing and serving food to kids. She saw a need in the market for a product that was both useful and kid-friendly. These personal struggles gave Lisa the idea of Dare-U-Go, and she committed herself to creating a product that would ease the burdens of other parents dealing with similar issues. Lisa faced difficulties in the early phases of product development with dealing with production and locating suitable materials to make sure the product was child-safe and long-lasting.
Initial Pitch
During her Shark Tank presentation, Lisa presented Dare-U-Go as a unique food storage option made especially for children. She described how the item makes meals easier for busy families by enabling parents to easily store, arrange, and serve food wherever they are. Lisa gave an explanation of the product’s functionality and ease of use, highlighting its special design that keeps food separate as the product has a number of compartments that avoid any leakage. She further stated that the device was safe for young children as it is BPA-free. The product can easily be washed.
Lisa stated in her presentation that she required the money to increase her reach, enhance her marketing, and grow production. She wanted $350,000 in exchange for 10% equity in her business. She also told the sharks that she invested $250,000 of her own money.
Queries About The Product
Kevin asked Lisa about the cost of each product. Lisa told him that each unit only cost a little $2.68 but could sell for more than $20 and he was impressed. He also inquired about any retailer buying from her to which Lisa said that three distributors were engaged in a bidding battle for exclusivity. Kevin inquired about the product’s patent status as well, and Lisa responded that Dare-U-Go had been granted the patent.
Barbara asked about the previous sales and her plans for future business growth. Lisa replied that she is in the market for three months, Dare-U-Go had already made $100,000 in sales. Barbara was impressed by the product but she thought that Lisa could not run the company on her own.
Robert asked about the latest sales figures for last month. Lisa told the sharks that she made $23,000 in sales in the previous month.
Shark’s Responses and Final Deal
Lisa’s pitch failed to convince Mark, who became the first shark to leave. He thought Lisa talked too much about the market opportunity, but she didn’t have much knowledge about the risks and difficulties that come with growing the company.
Kevin saw potential in the product, but he had doubts about the value of the business. He gave Lisa 4 offers. The first offer was $100k plus $250k as a loan for a 15% stake, and he started increasing the stake by 5% each time when any other shark stepped out as Lisa was losing the other options.
Barbara Corcoran showed interest in the product, but she had doubts about Lisa’s capability to manage her business independently. Her first offer was $350,000 for 50% stock and she also said that she would personally manage the business but Lisa was not ready to give that much portion of her business so after some negotiation Barbara offered $350,000 for 35% stock. Lisa accepted the offer.
Lori admired Lisa’s determination and hard work but she said that planning is very important but Lisa dont have a proper strategy to grow the business so she decided not to invest.
Robert also decided not to invest as he didn’t like the product that much and had doubts about the business’s future growth.
Product Availability
In 2024, Dare-U-Go products are still going strong and have successfully reached a huge number of audiences. The products are available for purchase online on the company website Dare-U-Go and the product is also available on Amazon Dare-U-Go Amazon. They are an easy option for parents everywhere who require a useful way to keep and serve meals because they are sold in numerous nations worldwide. More information about the product is available on the company website, along with an easy way to buy it.
Conclusion
The Shark Tank experience was an important turning point in Dare-U-Go’s business, as it helped the company become more visible and receive a significant investment from Barbara Corcoran. The company has had incredible success since the show, reaching customers around the world and expanding its product line. Barbara made the right decision to invest in Dare-U-Go, as the business has continued to grow and prosper.
Parents all around the world have responded favorably to Lisa D’Amato’s idea for a useful, kid-friendly food storage solution, which has increased sales and raised her personal wealth. Dare-U-Go is still going strong and does not appear to be slowing down in the future. Customers are drawn to the company by its dedication to quality and innovation and expect exciting new products and development improvements may be coming in future.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.