A Lifebelt is a safety device that prevents a car from starting if the seat belt is not buckled. It consists of two components: one connected to the vehicle’s fuse box and the other linked to the seat belt.
When the seat belt is buckled, the second device displays a green light, which sends a green signal to the device connected to the fuse box, allowing the car to start.
| Company Name | Lifebelt | |
| Founder | Robert Allison | |
| Founded | 2002 | |
| Product | Safety Driving System | |
| Asked For | $500k for 10% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode (Shark Tank USA) | S1 E2 | |
| Air Date | Aug 9th, 2009 | |
| Business Status | Out of Business (2016) | |
| Website | Visit Website | |
| Headquarters | Las Vegas, Nevada, USA | |
| Annual Worth (Sales) | $0M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of Lifebelt?
The Lifebelt system was created by Robert Allison. Currently, there is limited information available about Allison on the internet.
How Was The Shark Tank Pitch Of Lifebelt?
After entering Shark Tank, Robert Allison asked the Sharks for $500,000 in exchange for 10% equity. He explained his business and noted that the Lifebelt device is available at some car retail stores in Las Vegas, with an installation cost of $229.
Allison holds the patent, copyright, and licensing for this product. The Sharks suggested he should consider partnering with a car company, as he is not currently making any money from the business.
Kevin Harrington expressed concerns about the company’s valuation and opted out. Kevin O’Leary showed interest in the patent and offered $500,000 for 100% of the patent rights, while Robert Herjavec offered $1 million for the same. Allison ultimately declined both offers and had to leave the Shark Tank.
| Sharks | Offers |
|---|---|
 Barbara Corcoran | No Offers |
 Kevin O’Leary | $500k for 100% Patent (#1) |
 Robert Herjavec | $500k for 100% Patent (#1) |
 Daymond John | No Offers |
 Kevin Harrington | No Offers |
| Founder’s (Countered) | No Counter |
| Final Deals | No Deals |
Lifebelt Shark Tank Update
Although Lifebelt did not secure a deal on Shark Tank, with Kevin O’Leary and Robert Herjavec offering to purchase 100% of the patent rights, Robert Allison ultimately declined their offers.
After appearing on the show, Allison signed a multi-million dollar deal with a Texas auto dealership, which offered the Lifebelt product to its customers to enhance vehicle safety. However, despite this initial success, research indicates that the Lifebelt business has been shut down since 2016.
The lack of a progress update during Shark Tank is notable. The business progress was briefly mentioned in Season 1, Episode 10, where it was revealed that Allison had signed a multi-million dollar deal with the Gillman Automotive Group. The product initially aired on Shark Tank in 2009 but exited the market by 2016.
What Is Lifebelt’s Net Worth?
Lifebelt’s net worth is estimated at $0 million, as the business has been shut down since 2016. Robert Allison, the creator of Lifebelt, is now focusing on other ventures. The need for this product has diminished due to advancements in automotive safety technology.
Annual Revenue by Years
Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.
| Years | Annual Revenue |
| 2023 | $0M *estimated |
| 2022 | $0M *estimated |
Funding Reports to Date!
| Years | Funding Amount | Investor |
| N/A | N/A | N/A |
Currently, there is limited information available about both the Lifebelt business and Robert Allison.
No, Lifebelt has been out of business since 2016.
