Amato, a mother from Los Angeles, puts her smart twist on a traditional children's product designed to help VAT on the go on ABC's "Shark Tank." (Photo: Eric McCandless, ABC)
An admitted fan of the show, the reality star, is the inventors of Dare-U-Go Bib, which acts as a split food container that wraps a child's neck and allows them to sneak into their own convenience. D & # 39; Amato's sons showed the product.
"Being a mother is definitely one of my greatest achievements," said D & # 39; Amato, who won the fifth season of "Model" and his All Stars edition in 2011. "But the reality of maintaining My busy lifestyle and work schedule, while raising two rambunctious little boys, made me think. "19659008] Maternity has been an important part of D & # 39; Amato's life. The fashion model became foggy and remembers his bulimic mother, his own eating disorder and pressure to be a model. When D & # 39; Amato was hospitalized, the doctors told her if she continued her current path, she would never have a baby.
"I had been a model all my life, so as far as I was a weathered warrior, I am definitely the person," D & # 39; Amato said.
The story left Barbara Corcoran and Mark Cuban moved with his victory over adversity, but O & # 39 ; Leary was surprisingly ready to come to the numbers: "Let's get back to the business. It's an interesting story and very convincing. It's a good result, but you're here to get an investor."
D & # 39; Amato wanted $ 350,000 for a 10 percent stake in her company. She had invested $ 250,000 of her own money and has a design patent, she said, and presented the framed piece of paper. During the first three months of business, her company sold $ 100,000 bibs, she said.
But D & # 39; Amato was quickly considered Cuban by focusing on the potential share of the growing baby product market instead of Dare-U-Go itself.
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"Lisa, you lied to us," Cuban said repeatedly. "You said you saw the show. One of the things we repeat over and over again is that one of the worst ways to sell in Shark Tank is to come in and talk about where a big market is, and if you only get a small sliver of one percent, it's a lot of money for you. It's a real trap that all entrepreneurs fall into. "
Leary made D & # 39 ; Amato a deal she was reluctant to accept: $ 150,000 for 15 percent and $ 200,000 as a loan. But as a good scarecrow he increased his equity by 5 percent each time another shark fell out. Fifteen percent quickly became 30, when sharks Lori Greiner and Robert Herjavec went out.
"I know I'm getting more valuable every time you lose another shark," L & # 39; said Leary. "It will continue to get worse."
Corcoran originally wanted 50 percent but steals a page from Mr. Wonderful, agreed to 35 percent equity for $ 150,000 with its own $ 200,000 loan that consisted of Leary's last offer. D & # 39; Amato accepted.
"The best thing I've heard from you than your phenomenal charisma is the story of growing up," Corcoran explained to her. "Because if I had to go through all my top companies, one of them was headed by an entrepreneur who came through hell and back."
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