Stewart Gold pitches Dingle Dangle, his headband/baby mobile, in Shark Tank episode 1511. Stewart and his business partner Mark Hamilton (not appearing on the show) created the product to make diaper changing easier. Mark got the idea for the product after a harrowing experience changing his daughter’s diaper in an airport public restroom. She was squirming and screaming and he needed a way to distract and calm her.
That was the genesis of the product. When Mark shared the idea with his upstairs neighbor, Stewart, Stewart came on board. He was a new dad too. Starting with hangers, Go Pro straps and stuffed animals as prototypes, they spent a year perfecting their product. Both men have business experience: Stewart is an attorney and Mark owns a recruiting business.
They introduced their product to the world on IndieGoGo and raised a little over $5000 in October, 2022. Since then, it’s gotten a lot of media attention. Parents love it, even if they look a little silly wearing it. The Dingle Dangle, when you aren’t wearing it, converts into a portable mobile that clips onto a crib. It also comes with a pufferfish rattle, and a silicon teether. Stewart likely wants a Shark’s help with inventory.
Company Information
Video
Posts about Dingle Dangle on Shark Tank Blog
The Dingle Dangle: A Parenting Game-Changer
Dingle Dangle Shark Tank Recap
Stewart enters the Shark Tank asking for $75,000 in exchange for 20% of his company. As the “chief diaper changing officer” of his household, he had no idea the task would involve so much kicking, screaming, wriggling, thrashing and squirming. He felt like he was wrestling an alligator. Parents need a weapon as ferocious as their opponent. He introduces Dingle Dangle and puts it on his head as the Sharks laugh.
At a changing table with a baby doll on it, he demonstrates how the Dingle Dangle will give parents that 30 seconds they need to get a diaper changed. Next, he shows how it can attach to a crib or portable stroller. Finally, he shows how it can also turn into a rattle. He has a question for the Sharks: “who’s ready to make their wallets jingle jangle with the Dingle Dangle?”
Samples and Questions
As the Sharks examine the product, Kevin asks “what about the dork factor? It’s dork factor 6.” Stewart says his wife would attest that he’s one of the biggest dorks on the planet. It’s designed to look silly. Daymond says he can wear it to the club as he clowns around with his sample. Stewary explains that he filed for a utility patent for the system incuding the removable rod and the different accessory products.
In 2022, he had $67,000 in sales but he ran out of product in 2 months. They cost $14.50-$15 to landed and sell for $40. So far in 2023 he has $40,000 in sales, with $15,000 in the most recent month. Candace talks about a business that helps kids with sensory skills. When the founder of this business is teaching kids to sit up, she sits behind them and needs something to project in front of the child to keep them entertained while she’s engaging their core muscles. Stewart says he markets it as a sensory tool.
More Numbers
Stewart is projecting $185,000 in sales for the year and he expects to make $15,000 in profit. He has $150,000 invested in the business. In 2022, he lost $32,000. All the cash coming into the business is used to fund more inventory. Stewart says he wants a Shark’s help with licensing. He asks Mark if he think it would be cool to have a Dallas Mavericks logo on the product. Mark’s worried that Stewart isn’t making money and Stewart says he’s positive this month and that as they ramp up sales they’ll be profitable. There are 3.5 million births in the USA every year and all he has to do is hit market saturation. Mark says using that argument is the kiss of death.
Kevin says he loves Stewart but he’s going to pass on this one; he’s out. Mark thinks it’s a great product, but he can’t see it scaling enough to get his interest; he’s out. Daymond thinks it’s a fun product and that it’s a good business for Stewart but not for him; he’s out. Lori thinks as a product it’s only for a limited time period and that the market is too small; she’s out. Candace says she was excited about the sensory aspects at first but Stewart lost her when she started talking about licensing; she’s out. After Stewart urges the Sharks to reconsider, Kevin offers $75,000 for 20% but he wants $1 per unit until he recoups $500,000. Stewart asks if he’ll go to $150,000 and Mr. Wonderful says no. When Stewart counters again with $250,000, Kevin says “$300,000 and it’s done.” Stewart accepts.
Dingle Dangle Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. On Show night, Kevin Tweeted: “You’re qualified in your industry, you’ve found your unique NICHE, and you’re willing to go to bat for your business or idea. That’s a winning entrepreneur.” In April, 2024, Stewart’s utility patent was granted. Since airing, the company has added a variety of baby clothing and accessories to its line. While a photo of Kevin O’Leary and Stewart shaking hands is prominently displayed on the Dingle Dangle website, as of the first re-run of this episode in June, 2024 – 6 months after the initial air date – there is no evidence the deal with Kevin has closed.
The Shark Tank Blog will follow-up on Dingle Dangle & Stewart Gold as more details become available.
