Dare-U-Go Shark Tank Net Worth 2023
Lisa D’Amato, the founder of Dare-U-Go, appeared on Shark Tank in March 2019 and sought investment of $350,000 for 10% equity. That gives the company valuation initially estimated at $3.5 million during the pitch.
Although she was not successful in securing the investment, her company has grown phenomenally since then and the business has generated over $46 million.
With her business clearly thriving in February of 2022, it is still unknown if Lisa accepted Barbara Corcoran’s offer or any other interested distributors she has mentioned; either way, the company’s net worth has undeniably gone up accordingly with time.
What is Dare-U-Go?
Dare U Go is a versatile bib that provides 5-in-1 storage and can be easily folded when not in use. It conveniently folds into an airtight container, ensuring that food remains fresh and secure. The bib contains 5 compartments, allowing for each item to be separated.
Additionally, Dare U Go is dishwasher and microwave safe, making it a convenient option for parents. Lisa D’Amato, a former top model and now a single mother of two, founded Dare U Go.
She recognized the challenges faced by parents and toddlers during mealtime and created a hands-free approach to make mealtimes easier for toddlers.
D’Amato launched Dare U Go in 2017 through a successful Kickstarter campaign, raising $37,511. She started distributing merchandise in early 2018. Dare U Go is a modern twist on the traditional bib, made of food-grade silicone and fitting around a child’s neck like a regular bib.
The bib includes resealable compartments for storing food and snacks directly in the bib. As the bib is already on the child, it can also be used as a plate and is easily transportable.
Each Dare U Go bib costs $22.99 and comes with a spork. The bib is available in vibrant colors and can be purchased at Wal-Mart, Amazon, and various other retailers worldwide.
What Happened to Dare-U-Go at Shark Tank pitch?
On an episode of Shark Tank, Lisa D’Amato presented her product, Dare U Go, which is a bib that doubles as a food container and serving dish. She was hoping to secure an investment from one of the Sharks to assist with the rapid growth of her company.
Lisa’s initial ask was $350,000 for a 10% stake in her company, which was valued at $3.5 million. During her pitch, she shared that she had generated over $100,000 in sales in just three months prior to appearing on the show. The product costs $2.68 to create and is sold for $22.99.
Lisa also mentioned that she was in a bidding war with three different corporations for distribution rights. After some discussion about her personal story and how it influenced her product, the Sharks began to make offers.
Mark was unhappy when Lisa claimed that the global bib market was worth $15 billion, as he felt this was a misleading type of pitch. He ultimately decided to pass on the opportunity.
Kevin was interested in the product for his “something great” platform and offered $350,000 for a 15% stake in the company, with the remaining $250,000 being a loan. He then increased his offer to 20% equity shares with the same loan/equity ratio each time a new Shark entered the negotiations.
Lori was impressed with Lisa’s skills and decided to pass on the deal, while Barbara believed that Lisa needed a partner to provide some control and offered $350,000 for a 50% stake in the company.
Kevin continued to raise his offer, eventually reaching 30% equity shares when Robert decided to exit the negotiations. Barbara then revised her offer to $350,000 for a 35% stake, along with $150,000 in cash and a $200,000 loan. Lisa accepted this offer and left the show with a deal.
As of the first rebroadcast in June 2019, the agreement with Barbara Corcoran was not yet finalized, but Lisa was able to secure a deal on her own for Dare U Go. Today, Dare U Go is widely available in retail stores, and the company’s Amazon Store has undergone a redesign.
Lisa may have made a deal with one of the three distributors she had mentioned instead of Barbara. By September 2020, the product will be available in 20 countries.
The company is still operational and thriving as of January 2022, with an annual revenue of $46 million.
Net Worth of Dare-U-Go
The company valuation was $3.5 million during the pitch, since then the company is still in business with annual revenue of $46 million as of January 2022 and hence the company’s net worth has gone up.
Dare-U-Go FAQs
What is Dare-U-Go?
Dare U Go is a convenient 5-in-1 storage bib that folds easily when not worn by your youngster. It folds neatly into an airtight container, keeping food fresh and secure, and it includes 5 sections for each item.
For your convenience, the Dare U Go is dishwasher and microwave safe. Dare U Go begin when Lisa D’Amato, a former top model, became a single mother of two?
Who is the founder?
Lisa D’Amato, America’s Next Top Model All-Star winner is the founder of Dare U Go. Lisa D’Amato rose to prominence after winning America’s Top Model in 2017.
How much was seeking on Shark Tank?
Lisa D’Amato entered the Shark Tank pitch asking of $350,000 for 10 percent stake in her company, which was worth $3.5 million.
Did she have the deal?
Yes, Lisa obtained the deal with Barbara Corcoran.
What happened after Shark Tank?
Barbara offered $350,000 for 50% equity shares of the company, but the deal was not finalized as of the first rebroadcast in June, 2019.
Is Dare-U-Go still in business?
Yes, Dare-U-Go is still in business with annual revenue of $46 million as of January 2022.
What is the price of Dare-U-Go?
The product retails for $22.99.
What does food storage bibs look like?
Dare U Go is an updated version of a bib and plate combo, with six detachable pieces that can be filled with food?
Where is Dare-U-Go located?
Dare U Go is based near Philadelphia, Pennsylvania.
How can I contact Dare-U-Go?
Contact information can be found on Dare-U-Go’s website.
What is Dare-U-Go website?
The website is http://www.dareugo.com/
Is Dare-U-Go safe to eat?
Yes, it’s safe to eat. Because it’s made of food-grade silicone and is washed in water, the Dare U Go is safe for use by children.
Is Dare-U-Go shipping?
Yes, Dare U Go is shipping worldwide.
What is the shipping charge for Dare-U-Go?
Shipping costs vary depending upon the location and can be viewed on their website.
Can I get a refund if my order damaged from shipping?
Yes, customers will be refunded if it’s damaged during transit.
What is the return policy for Dare U Go?
If customers are unsatisfied with the product, they can return it within 30 days of purchase.
How do I pay for Dare-U-Go?
Customers can pay for Dare U Go using PayPal.
Does Dare-U-Go offer a discount?
Yes, there is a discount offered on their website.
How long does it take to ship Dare U Go?
The shipping takes about 2-4 weeks for domestic orders and varies for international countries.
What are the features of Dare-U-Go?
Dare-U-Go has 5 compartments to store food and other items for quick access. It has an air tight seal, locking in freshness by using zip lock technology.
What are the ingredients of Dare-U-Go?
The ingredients are food grade silicone
How many colors does Dare-U-Go come in?
Dare U Go come in four colors – navy, hot pink, purple, and lime green.
Where is Lisa D’Amato now?
Lisa D’Amato is the founder of Dare U Go. She had a successful reality television career and is still active in the entertainment industry.
What is the net worth of Lisa D’Amato?
Lisa D’Amato is a Model with a $400 million net worth.
