Dare-U-Go - Shark Tank Update

Former America's Next Top Model winner Lisa D'Amato transformed her frustration with carrying separate bibs, plates, and containers while traveling with her two toddlers into Dare-U-Go, an innovative multifunctional children's bib that revolutionized mealtime convenience for busy parents. The ingenious product combined food-grade silicone construction with built-in, re-sealable compartments that allowed kids to eat directly from their bibs while keeping clothes clean, essentially creating a wearable plate-and-storage system that cost just $2.68 to produce but sold for $22.99.

Lisa's journey from supermodel to entrepreneur began with a successful 2017 Kickstarter campaign that raised $37,511, leading to early 2018 product shipments and rapid growth that generated over $100,000 in just three months and $300,000 total by her Shark Tank appearance. Seeking $350,000 for 10% equity and valuing her company at $3.5 million, Lisa entered Season 10 armed with distribution interest from three major companies and availability at Walmart, Amazon, and retailers across over a dozen countries, though her pitch quickly turned controversial when Mark Cuban accused her of lying about the $15 billion global bib market size and stormed out of the tank.

The Tank witnessed one of the most emotionally charged negotiations in show history as Lisa's personal story about childhood anorexia and her mission to help kids eat well resonated with some sharks while others questioned her business acumen, ultimately leading to a complex deal structure that would later unravel. Barbara Corcoran saw past the drama and offered $350,000 for 35% equity split between $150,000 cash and a $200,000 loan, believing Lisa needed structured partnership to scale effectively, beating out Kevin O'Leary's competing offers that included higher loan portions.

However, the celebrated deal with Barbara never closed during due diligence, prompting Lisa to partner instead with one of the three distributors she had mentioned during her pitch, proving that sometimes the relationships formed before Shark Tank matter more than the ones made in the tank. We found that despite the failed shark partnership, Dare-U-Go achieved remarkable international expansion by September 2020, reaching 20 countries and securing major retail partnerships with Amazon, Walmart, and BuyBuy Baby while moving manufacturing to the United States to meet increasing demand and dedicating 50% of website sales to racial equality charities, though recent updates suggest the business has slowed significantly with products no longer available on Amazon and dormant social media channels indicating potential operational challenges.