Taking your kids out for the day can be fun, but changing diapers is a different story. Babies and changing tables don’t always get along. Dingle Dangle is a toy that parents can wear on their heads to distract their kids during diaper changes. Its creators, Mark Hamilton and Stewart Gold, marketed the product on Shark Tank and landed a deal with Kevin O’Leary. Currently, Dingle Dangle is worth an estimated $1 million.
Founder’s Story
Dingle Dangle is a uniquely designed toy set that has three main uses, the main one being as a diaper changing assistant headband. The toy can also be transformed into a simple rattle or a portable mobile that can be attached to a stroller and crib.
The man who came up with the idea was Mark Hamilton, owner of an investment banking recruiting service. During a trip to Spain, Hamilton was having trouble getting along with his 7-month-old. When they returned home, he promised himself he would find an easier way.
He made his first prototype out of a coat hanger with keys hanging from it. While this prototype worked, Mark knew it needed a little improvement, but he needed help. He got the prototype from Stuart Gold, an attorney who lived in the apartment upstairs. The two gentlemen hit it off, and it wasn’t long before they joined forces.
Building the Dingle Drape
It took the pair about 16 months to perfect the design. During this time, Stu gave birth to their second son and served as their guinea pig to test their models. In September 2020, the final version of the Dingle Dangle playset was released.
They enlisted the help of product development company Plan A to review the product and bring it up to standard for both the UK and US markets. This way, Mark and Stuart’s idea was sold on two continents, a huge achievement for a startup.
Dingle Dangle was named one of the best new products by the British Baby Products Association. A few weeks after the toy was launched for children aged 13 to 18 months, Stu launched a crowdfunding campaign on the Indiegogo platform and raised more than $5,000. They applied to Shark Tank and heard back within a few days, but it took about a year to get on the show.
After Shark Tank
Fresh off their appearance on Shark Tank, Mark and Stu are poised to significantly boost sales. Given the uniqueness of the product, the clips they promote should go viral. Plus, with Shark Tank taking a long break over the Christmas season, ratings should be higher than normal. This exposure should help Dingle Dangle generate at least $100,000 in sales over the next month. The deal with Kevin O’Leary should close in the next three to six months.
The company is looking to expand into the US market, as they have already had some success in the UK. Dingle Dangle’s fun factor has earned them coverage in media outlets such as Hello Magazine, The Sun and The Stray Ferret. In preparation for the show, they launched a Shark Tank Baby gift set on their website, DingleDangleBaby.com. The set includes the playset and an adorable shark robe for little ones.
The regular price for a single set is $39.99, and you can also buy it from their Etsy store, where they have 314 reviews with an average of 5 stars. On Amazon, the product has a 4.5-star rating from 28 customers. Negative reviews say the toy is too expensive and not very practical.
The U.S. toy market was valued at $24.34 billion in 2022, so there is plenty of room for growth. Competition may be fierce for Mark and Stu, but only time will tell if they can carve out a niche in the industry. If sales surge, they could well become a takeover target for a larger company.
Categories: Shark Tank
Source: svlsf.edu.vn