Lisa D’amato came onto
Shark Tank Dare-U-Go Update
- Entrepreneurs: Lisa D’amato
- Business: Food Storage for Kids
- Ask: $350,000 for 10% equity
- Result: $350,000 for 35% equity
- Sharks: Barbara Corcoran
In the company’s first three months on the market, Lisa admitted her company had reached the $300,000 sales milestone right before coming onto the show. A single unit costs just under $3 to produce, while Lisa intends to sell it at just over $20. She also told the sharks that she didn’t have competition in the market at the time.
- TWIST TO THE EVERYDAY BIB – Designed by an on-the go mom, the Dare-U-Go! is a bib, plate, and highchair rolled into one! Goodbye stains, individually packaged food, and container overload.
- ONE CONVENIENT PIECE – This product is constructed for heavy-use durability and organization. The bib folds down as a perfect-seal lid, and underneath you’ll find a spork holder!
During the pitch and negotiations, Mark Cuban accused Lisa of lying and got frustrated when she talked too much about the market potential for her product.
Mark ultimately became the first shark to drop out without making an offer. Kevin O’Leary decided to make an offer of $350,000 for 15% equity, but a portion of the money would be recognized as debt rather than an investment.
Barbara Corcoran wanted to become 50/50 partners with Lisa because she didn’t have confidence in her to run her own business individually. She offered the $350,000 cash under the assumption that Lisa would give her exactly 50% equity.
After a few quick negotiations, Lisa agreed to a deal with Barbara with a portion of the money being structured as debt. She also only agreed to give up 35% equity while making the deal with Barbara.
Let’s see how the company has been doing since appearing on
The company has sold products in many different countries and sales numbers continue to improve every year. It’s super easy to find Dare-U-Go products online on Amazon’s marketplace. So, we’d call this Dare-U-Go update a success!
You can find the other company updates from Season 10 Episode 17 here:
Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from