Tag Archives: Deborah Meaden

Dragons tackle a staggering valuation - Dragons' Den

**Dragons tackle a staggering valuation – Dragons' Den**



View Time:15:3Minutes



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A pair of ex-politicos go from Westminster to the web as they attempt to take on the energy market and the Dragons.

Watch Dragons’ Den on the BBC:

Dragons’ Den | Series 16 Episode 2 | BBC


my name is Henry and I'm will we're
cofounders of look after my bills our service minimizes the price you pay for
gas and electricity because right now people get ripped off we all know that
we should switch but we don't so look after my bills does the switching for
you you sign up on our website in just a couple of minutes our algorithms get to
work and then we move you to the best deal every year automatically you don't
have to lift a finger that's the key difference between us and
comparison sites with energy alone we're taking on and disrupting a market worth
billions and we're offering 1% of our business for 90,000 pounds thanks for
listening we'd love to take any questions a confident pitch from will
Hudson and Henry to zut asking for 90,000 pounds for a tiny 1% of a website
that automatically finds the best deal for your gas and electricity
but the multi-million pound price tag appears to her ruffled tej Lala nice
feathers hi guys will Henry hi wondering where to
start well they should start with the evaluation how do you get to that figure
and why do you think your businesses is worth nine million pounds it's a
combination of our track record experience in this space but also the
size of the market in front to us so right now people spend twenty nine
billion pounds on energy in Britain alone they're 20 that doesn't excite me
too much a lot of the time people come into the gym they're quote market sizes
and say well because of that but let's start with more basics how many
customers do you have because a valuation like that I presume you'd have
a lot of customers on board be around 60 to 70 thousand who've done this which
people have signed up for the opportunity to take our deals it's a
larger number around 250 300,000 in terms of it before you set up the
business four years ago what did you both do I've got a political background
actually so I started off doing policy and think tanks I then was a special
advisor in government so different approach to to Henry I actually did some
work for the Green Party and I decided that I wanted to do what I could about
big business not giving the best treatment it could to normal people and
consumers will and I have been all for instance University I left government in
2014 we'd been talking you know as best mates for years about doing something
together so we started the big deal what the business did to start off was
one-off switches so we say people huge money with great deals but then the
deals expired and they got to a higher price now customers asked us to start
switching for them and that's where look at my bills comes in the entrepreneurs put up a robust
defense of their valuation citing a growing business born out of consumer
demand but Deborah maidens worried the new laws protecting personal data could
short-circuit their chances of success well Henry do you see any changes in the
legislation that's gonna stop you from simply being able to take decisions on
your consumers behalf know the direction of travel in this space is all towards a
service like look after my bills I'm sure you will realize that the energy
market just doesn't work for customers because they don't keep engaging with
the market and people of course don't switch because it's a complete pain in
the neck and if you do it once you're certainly not going to get around to
doing it every year thank you how many competitors have you got in this field
the big players would be the large comparison websites they do normal
switching manual switching in terms of automatic switching this really is an
early green industry no one has established themselves a
central player which is our aim there's been zero innovation in this market for
twenty years price comparison websites look like they
did 20 years ago big list that's it and still 60 70 percent of people do not
switch there has to be some new innovation to change this and we think
we're the ones that can do that a groundbreaking website that's also first
to market it looks like the entrepreneurs have all the elements for
success but Jenny Campbell wonders if they're at the mercy of the big players
not joining their utility revolution energy companies whatever big one is
choosing not to be on your platform because frankly it costs them money too
I would call it slick their own throats yeah there's a race to the bottom we try
to get people with the best price we can find and supply as they can trust now if
a supplier doesn't want to engage with the service that gets customers a great
deal year-on-year I'm not sure that's the kind of company
that we want to be moving people to are you not compromised on independence
because surely whoever pays you the most you know deal done isn't it I think
ultimately all we can do is be totally transparent and honest with our users
they know there might be cheaper dealers out there about some companies that we
wouldn't necessarily recommend a rare occurrence in the den as the
entrepreneurs reveal cash won't always be king on they're switching site Tesla
Varney has quietly taken a reading of the numbers and is ready to supply his
verdict on the proposition you guys want smart money right and there's a cost to
having the value in the den what we're gonna prove I think what you need to do
is to grow your brand and to build it create the awareness and that's what I
can do and at the same time you'll need to raise money future and I can help
with that too right I'm not gonna waste any time I'm
gonna give you an offer the offer is all of the money but at 7% thank you thank
you tage Levani provides an early boost for
the entrepreneurs but the deal he wants is 6% more than the 1% on offer
does Peter Jones feel the entrepreneurs have what it takes to look after an
investment I think you've done incredibly well I really like the idea I
think got a real chance of making this a success so I'm gonna make you an offer
and I'm making this offer because I bring so much more value than – I don't
have you so I don't need to compete with that I'm gonna offer you all of the
money but in return I'd like 10% of the business technology guru Peter Jones electrifies
the den using his track record to go in higher than his fellow dragon demanding
a whopping ten percent of the company but does touka Sulaiman feel he can come
up with a better deal impressive your impressive and I believe my offer can add great
value to you so I will give you all of the money per eight percent I love this
business for many reasons I think anything that disrupts the blinkin
energy industry has got to be good news and I'd really love to be involved and
what I really want to be involved in something I get quite competitive so I
am gonna make you an offer and good off you all of the money but they want 3% of the business Debra Medan dramatically undercuts her
rivals encouraging the entrepreneurs to switch to her deal of 90,000 pounds for
just 3% Jenny Campbell can also be quite competitive is she about to turn up the
heat in the dead the thing that I really really like is the ethical peace that
comes through this you're launching today is about making energy companies
honest at the end of the day and it's it's longer would you so what is there
not to like I'm gonna throw a little bit of a curveball in and say that I would
offer you 1/5 of the money for 1% which means you need to get the rest of us to
agree mm-hmm do want to go and talk at the back guys yeah a full house Peter Jones offers all the
money for a hefty 10% to KO Suleiman wants 8% taze LaVon ease after 7 Jenny
Campbell wants 5% shared equally but Deborah Medan has been the most
competitive asking for just three percent of the company having discussed it any now incredibly
flat flattered we're willing to double the amount of equity we're giving away
in our business from 1% to 2% but we need slightly more money we need to ask
for 150 K for that 2% look guys I think you have to understand the real value
here at 2% even a struggle you need to be a bit more realistic guys can I just
say that I do understand the predicament I like it even more so just on that or
half my offer so I will offer you all of the money ninety thousand for five
percent not 10% this I'm afraid has to be our our final
offer and we're really really keen to make it work 120,000 pounds for 2% of the business I didn't get out of bed for 2% that's for
sure understand so on that basis I'm out touka Suleyman
stays in bed refusing to give in to the entrepreneurs equity demands but is 2%
enough to tempt the other dragons from under the covers I actually think it's a
great shame because this could make a lot of difference to you we don't want
to give up on you please please believe that this is as
far as we can go I'm sorry guys No I'm out guys feel that you've taken the
negotiation way too far and that shows to me there's a naivety in business that
really concerns me and I think you will walk away from here now
having completely missed a massive opportunity you're about to make one of
the biggest mistakes of your life is that your final offer
2% so final offer on the basis of that's your final offer
I'm out they've had five offers but now just two
dragons remain our Jenny Campbell and Tesla Vani willing to negotiate okay
guys here's where I'm at you asked for hundred and twenty
thousand for two percent but I urge you to reconsider and see the value that the
Dragons are going to bring we do I'll do one hundred twenty thousand but for
three percent and that's my final offer it was very happy to bring Jenny with us
both okay both is what we would like I would
share with TAFE that's three percent so we're part by
one percent you could walk away on the basis of one percent it's half a percent each
there is no way that you two would do what 124 two percent as we as we
describes well we gave you our final offer Jenny and finish we have a deal right ago she ations well done they almost
lost it but having given away just 3% of the company will and Henri leave with a
hundred and twenty thousand pounds and two switched-on dragons

Dragons fight over jaw-dropping multi-million pound business | Dragons' Den - BBC

**Dragons fight over jaw-dropping multi-million pound business | Dragons' Den – BBC**



View Time:14:22Minutes



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A trip across the Atlantic might be a route to investment – or a wild Dragon chase – for a pair of US-based entrepreneurs. They hope to clean up online with their new social media based business that promises to cleanse your online profile for future employers.

Watch Dragons’ Den on the BBC:

Dragons’ Den | Series 16 Episode 8 | BBC


We both traveled in from New York. So we haven't been in the UK for very long so I think we're feeling the effects of travel a little bit Hopefully we're not too rusty as we start getting a grilling from the Dragons But will the pair be returning to the Big Apple with more than just a healthy airmiles account? Hi dragons, my name is Nathan Evans and this is Patrick M Braun and our company is called brand yourself. We're seeking a 100,000 pound investment in exchange for a 1 percent equity stake in our business Dragons meet Steve Steve is an Oxbridge graduate with a first-class degree Basically, Steve is an employers dream But when employers look Steve up online, they don't find professional Steve They find gap year Steve where one moment has ruined dozens of job opportunities for him Now Steve found out the hard way how you look online today? Directly impacts your career more and more employers are analyzing everything about you before making a decision That means a single negative online search result or single inappropriate social media post or image can ruin your career That's why we created brand yourself the most comprehensive platform that helps individuals clean up protect and improve how they look online first our technology scours a web and identifies risk factors that could hurt your online reputation and then walks you through the process of finding and deleting inappropriate images Now while your initial report is free users upgrade to a 70-pound yearly subscription to get full access to all of our features Last year, our revenue was over 4 million and this year were on pace to do over 5 Dragons, thanks for your time. We'd love to take your questions Cleaning up online is the idea Patrick and brawn and Nathan Evans hoping to clean up with in the den They're offering just one percent of their business in return for a hundred thousand pounds Taz Levani is first to quiz the profile polishing pair Nathan Patrick hi It's a unique idea But I myself could go and screen myself on Facebook and delete all the pictures that I think could be offensive or prevent me from Getting a job and save myself 70 pounds. Yes, but the average person has thousands and thousands of post and Thousands and thousands of images. They don't know what they all are. I went through it myself manually it took 18 hours But it's not just the time it saves you Online screening has just become so much more pervasive Whether you're applying to school or applying for a job or applying for an immigration visa You're going to get screened and these screens are way more than just a search. They go through everything So what it does is advise you any negative things on Google. Is that what it does? So let's say You have a negative search result and it's not something you can delete because it's not your own Facebook And it's someone else trashing you it shows up in Google. For example, I think at least in the u.s We've dealt with more victims of revenge porn than any other company Sometimes those things to be directly removed other times You can need to kind of minimize the damage of this by surrounding it and burying it with more positive things now We can do that for you Guys isn't the end result of all this cleanup The actually everything is so clean. They can't really see the real person and you're not branding yourself. You've just become bland yourself Yeah, what if it just came off social media to get all together. I'll just delete Facebook Twitter Instagram No footprint on social media. So there's one thing which is not having anything negative but more and more employers are looking for positive things that reinforce their decision online so not having any social media accounts that give them any Indication is a bit of a red flag to employers at the moment The online entrepreneurs approving why their service is a necessity not a luxury Touka Suleiman now wants to focus on the cash the techie twosome are bringing in It looks like you've got a business You've turned over 4 million F is 4.4 million last year and what was the gross profit it was 2 million net profit is a loss of 450,000 and That's because you always been on tech correct. It's a blessing. It's a shoe. You'll do 5 this year. We'll do 5.2 million and Level or you still lose money. We'll Expecting to lose money again this year hilarious a best same as last year by 450. Yes Ok, so it's very apparent that you're losing money and money doesn't come from thin air At the moment you're trying to raise 1 percent Which bet is a company at 10 million? Yes This is a part of a larger raise that that we're putting together this year of about 3 million pounds, right? But you've done your homework about me. Haven't you I have I Know you don't get out of there for 1 percent. Yeah, so I'm assuming if I want to invest you'll accommodate We're here we're here to make a deal. Yeah. Ok, that's good Tuukka suleiman tests the water and discovers the duo's terms appear to be negotiable But Deborah Medan wants to establish why the pair have traveled across the pond to seek investment in the first place I'm interested. So there's an equivalent of Dragon's Den in the US Why didn't you go to them cool shots tank over there, isn't it? We did appear on Shark Tank and we got a two million dollar offer But we just couldn't negotiate so I walked away from the deal gosh Okay, but I have to say the risk of sitting in this chair is that you don't do the same thing again You know in retrospect I didn't know that there was extra value and having a shark then there was the money We need to make sure we've learned from that mistake I don't want to be seen as someone who goes on a show like this and does the same thing So what we want to do is act drastically different this time around Good Can I just take us back to the investment, how much do you guys own to the company? Yeah, so I Hesitate to put the exact percentages of everybody, you know out there on on TV Why why would it you can just search and find that out? It's not completely public employees and things like if I'm investing in you, I wonder that Yeah, you you will know this before you make an investment exactly So I'm I'm now currently before I make an investment. So I need to know what you guys own the company Me and my co-founders Oh mister just picking you the founder 10% and Nathan what do you know? It's less than 2% and have you communicated to all shareholders? That you're here, yes, and we have the consent that we can negotiate to certain types of things. Okay. I've got it Peter Jones pushes the entrepreneurs to reveal their share structure and that they've got the green light to cut a dragon friendly deal and it appears Jenny Campbell is warming to the cyberspace sprucing idea a Lot of people need to clean up their act online. It's like moving up the dirt off the carpet, really It's isn't it sort of that extent it is a useful tool Where it doesn't work for me as I don't like be in a small fish in a huge pond I like to make a difference and I just feel that with this tiny tiny sliver of Equity that that's not for me So I wish you all the best and I'm out The 1% share offering has no appeal for Jenny Campbell and she ends her interest Touka Suleiman now wanted to talk about the pair's plans for relocation Hi guys, how big enough if you want? Very easy to please what if I said to you I'll give you a thousand square feet free of charge for 12 months in the West End of London If you give me ten percent of business I Don't think it it's not gonna give you temps may be Guys I'm gonna make you an offer I'll give you all the money They'll want 4% Thank you thanks to Casilla man tables are bid and throws some rent free real estate into the mix Does serial investor Deborah Medan think the online airbrushing idea as potential I Think it's great. It's bang on You guys are smart, you know you're on it and when a business comes into the den, there's absolutely ahead of the curve. I'm interested So I am going to make your mother And I'm gonna offer you all of the money and I want 3% of the business. Okay. Thank you. Thank you Guys You've been very transparent which is really good. And I think the bellman that you've got going on is very interesting as well So I – I'm gonna make you an offer One hundred thousand pounds all of the money for three percent Cage Levani and Deborah Medan make identical offers and join the party Where the hat-trick of deals already on the table? It's now just tech tycoon Peter Jones who remains Will he want to add the online business to his portfolio? I I Really like it and it is a concern as a dad as well with kids that one photograph that one annoying thing Their behavior has affected potentially their career and That's a shame. Actually, I think what you've done is is really good. Thank you. Thanks and you've gone Shark Tank You're in the real show now. Yeah, this is where it started These are the guys that do the deals tell you yeah, so you did the right thing coming to the UK I'm actually gonna make you an offer And I'm gonna offer you all of the money For two and a half percent of the equity Thank you, thank you very much Don't think about it. Yeah. Do you mind thank you. Thank you guys. Thank you The entrepreneurs have four bids to consider Touka Suleiman is offering free floor space, but once four percent of the company do you think? Oh shit Debora Medan antes Levani both won 3% to her pants and Peter Jones has sharpened his claws and undercut them all with his turned a half percent demand They regretted their decision to reject a deal stateside are They now ready to accept any of the offers on the UK table So firstly thank you very much for hearing us out and thank you for the offers Petey gave us the most generous offer. So I'd like to put a counter forward to yourself Would you be prepared? to Provide us with the 100,000 but in exchange for 2% of the business Is that offer open to other dragons or is it just to Peter At this stage its it's an open offer If it was open to other dragons I wouldn't accept it. Okay, so I'm gonna ask you what would you like to do? If you accepted the offer I think we'd be ready to accept that right absolutely Okay, I Would accept two percent but the most important thing for me is on the next fundraise I'm not diluting I'm prepared to accept that deal. Yeah Thank you very much thank you fantastic. Thank you. I'm gutted and delighted at the same time Peter Jones accept the counteroffer and shakes hands on a deal The entrepreneurs exit the den with the hundred thousand pounds they were seeking and detect tour de force on their board That's a great business. Mr. Jowell. Well, I don't want to say Big that's tough. They have very good poker faces the best being Peter Jones I actually felt quite bad closing everybody out you out then. Well, you should because that was quite rude actually the pair head off the new york with a possible celebratory stop or You might we might go to the pub and have a drink but uh, it's inconclusive You