Dragons Shocked by Unexploited Database | Dragons’ Den
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- Опубликовано: 8 сен 2024
- Entering the den next is Andrew Nowell, followed by two furry friends and their handler. Andrew's pitching for an investment of £150k in return for a 7.5% share in his business, PitPatPet.
An international sensation, Dragon's Den features entrepreneurs pitching for investment in the Den from our Dragons, five venture capitalists willing to invest their own money in exchange for equity.
#DragonsDen #Database #PitPatPet #BorderTerrier
I love how when the dragons are clearly interested in the product they go at the entrepreneur's throat over the valuation etc in an attempt to gain some leverage before making an offer. Textbook negotiating.
Also they will find some flaws before making that offer.
Why do people always think overvaluing their business is somehow going to impress the dragons?
Especially when it's unproven and new. They don't get that u don't put a price on "potential" and "bright future". Dragons don't work on abstract, they work on tangibles
Because they value a company based on the potential THEY see...not a realistic CURRENT value.
As you know they need to ask for a little more than they expect to be offered. The problem, as you say, is that they overdo it, partially because they are aware of the negotiating tactic and, unfortunately, because they are so impressed with their idea/product that they truly do believe it is worth significantly more than it actually is. As far as I can see they really do not appreciate the fact that the Dragons can create the success they want simply because they know everyone, and they carry a reputation for honesty and integrity it might take these people a lifetime to achieve.....if ever. In three words, 'they are naive.'
In fairness he got an offer of a lifetime! The fairer combined offer could have been for somewhere in the region of 30-40%.
simply over ambition forgetting the reality check of their business and stages of growth
How can someone look 16 and 56 at the same time
Called being a woman but looking like a guy.
@@samcook7046
Yep this seems to be the new norm now a days 🙄 god help our kids coming up 🙏
Fliqyy wtf???
@@fliqyy3257 absolutely true
@@fliqyy3257 tf??
Deborah Meaden is the only Dragon who consistently actually WANTS to invest.
Peter makes offers a lot too, he just kind of rips people off when he does offer
I disagree. Its peter
This comment makes no sense.
@@masonmason3590 why not?
Your completely right if the business is in her wheel house she is always in. If the model isn't trash or they aren't in debt.
Peter: You'll live to regret that
Nick: Online
Deborah: Patent
Touker: Don't get out of bed for 10%
Sarah: Food and Alcohol
Jenny: I'm out.
Taj: VITAMINS
Hilary: Foot itch
Duncan: It's ridiculous and it's ludicrous and i'm oot!
@@Albimar17 🤣🤣🤣
I love Debra because she is respectful and balanced with her judgement of investments💕
"premium feel or premium price?" love Deborah 😂
Andrew clearly didn't understand Peter's question about IP (intellectual property).
He did understand but he didn't have any
Bro you a troll🤣🤣🤣🤣
He thought he meant USP.
I didn’t understand the question but there again I’m only watching it on TV
@@johnmc3862 having a market ready product isn't USP though
Sarah always has a lovely smile when the entrepreneurs enter the Den.
She does... and also when she's turning them down. I like that. But she's more out than Jenny.
Yes ur right there, also i think if i was up to the task id give her it something fierce let me tell you.... oooosssshhhh
Should change your name to Eddie the Copy Cat
And she's got great legs 😘
She is so sweet
Greyhound; eating 10 minutes, walking 20 minutes, sleeping 23.5 hours today.
So accurate!!
Maybe walking 17 mins, sprinting 3 mins, eating 20 mins, sleeping 23 hours and 20 minutes.
You sure you weren't sold a long legged cat?
Same although mine just stole my doughnuts from the table 😭😂
First we found out Touker won't even get out of bed for 2%. And now we know Touker won't roll up his sleeves for 7.5%!
Newsflash : just because you put in a lot of work doesn’t make your company valuable. He looked like he was about to cry
I've watched so much Dragons Den on RUclips.... I've seen Jenny make a deal.
Hahaha
We have all seen her make a deal. That’s why she is there. Your post makes no sense
@@mateoclemons3579 woosh
Wow i.m jalours
Lies. Link or it didn't happen.
Someone needs to remix these, cut out all of the vocals, and just have a 1 v 5 staring contest back and forth for like 5 minutes
Or 1 vs 1 with the audio from the Big Train staring contest sketches.
Lol that’d be great. Especially Deborah!!!
I’m on it
😅
"There's 4 founders in our company" I hope you're not including the 2 dogs in that lol
the two dogs are probably the ceos and they've added him on board to work with...
The dogs want 20% each
When he said that bit, I got worried. It rarely goes well when the entrepreneur says "there are other shareholders but they aren't here right now" because it means that there is less room for negotiations and the Dragons won't invest if they don't get a decent chunk.
Company is now worth about close to half a million quid so I’d say the dragons valuation was spot on
its net worth is half a million quid!
After hearing his voice first I was stunned to see he was older than 14
He?? I thought it was a she... or are we not allowed to say that anymore?
@@swift2765 Definitely was a she originally
@@SiLoMixMaster Just what I thought too!
balls haven't dropped yet
Magne M LOOOOOOL
Sarah Meadon doesn't have dogs: *scary music intensifies*
Debra: "Personally I think it's great" *uplifting music*
Sarah Meadon??
Jennifer Harper-Christas aye.....Duncan Jones half sister she is
Deborah Willingham
It's kinda shocking and odd they don't actually know how much it's actually getting used. I'm not aware of what else is on the market but to me it seems like a really good product
They are doing ok, but the problem is they never listened and used the data gathered. They are also using low-tech device, that's simply logging motion, instead of actual "tracking".
While they are doing good, in 2020 the company is still nowhere near 2 mil.
It's basically impossible to build an app and not have usage data. The data is there, he just doesn't know how to tap it maybe...
@@xhyhbdka Nah, you don't have to log stuff to make an app.
As soon as I heard this lad say '...we wana be a 100 million pound company and this is definitely achievable' immediately had me losing respect for him. And his valuation of his company at 2 million quid is delusional. He has no idea how difficult it is and the life commitment that is required to get a company to a value of 2 million quid, never mind 100 million. The guys naivety is pretty clear.
The company is worth 100bn now you wallaby
@@zeynepsaleh6487 why you lying?
and for that reason I was out I didn't even invest to watch till the end
@@zeynepsaleh6487 please share the name of the company.
"do you want to go and talk to the wall??"hmmm hmmm haaaaa
I think he took it as a joke, lol
They took investment elsewhere soon after filming at a lower valuation than the rejected offer. More recently issued a similar amount of shares for 'advertising airtime'. Now crowdfunding to pay the bills and the entrepreneur's stake has reduced to single digits %. Take it away Andrew… “They did give a good valuation and a good offer but we’re aiming higher”
150k for 7.5 percent, I swear these people have never watched this show 😂
Free publicity. Only reason I can think of haha
2 million pounds is a dogs nightmare
I mean, if the business goes to make 100s of millions, I don’t think 150k for 7.5% would be a problem...
@@xMagnumTVx Absolutely not and i'd buy into that all day long! However, you dont have a cast iron crystal ball!
Touker doesnt get out of bed for 7.5 percent.
According to companies house, in 2019 they had a turnover of ~2 million, with total current assets values at around 1/2 million. In 2020 however they have had some sort of share restructuring and new shareholders appointed.
Is that good or bad?
@@Mogamishu Depends. It could be good because they're getting more capital to help fund expansion, growth, better technology etc. It could also mean they got desperate for money and couldn't get a loan to cover it so they had to dilute shares to cover it.
A lot of pet care products are sold on sentimentality rather than usefulness and this looks no different. If my dog has been properly exercised, he sleeps for the rest of the time (except for eating). That device for measuring activity is a novelty I might use once and then forget. He didn't say how much it sells for, so it's hard to know how seriously to take it - for £10 it's possible but for £100 no way. Peter Jones was right about the £2 million company price tag.
I like how at the end under their breath that they say the product failed in a store already. Odds are the other share holders are at 40% and full of hot air running this intp the ground.
"Its not exploited yet" "Imagine an app that gives you recommendations based on pet food"
"Your dog likes beef bites so how about some beef jerky?!"
Beautiful adorable Border Terrier’s! Fabulous family dog. We had one, Bonny, for 16 years. Always a pup! 🐕
*PitPatPet* Est. Annual Revenue
$5M Est. Employees 60. Since the show they’ve increased sales 5x and added a calorie tracker.
Yep.. Wow it's rare to see businesses succeed
Interesting. Think if he had suggested 15% , they might just have gone along with that. They could see huge potential, especially if it had GPS tracker as well. Its all down to the battery..
He said it lasts a year, which is very good.
Perhaps a motion generator added to it might help?
Source?
He clearly hasn't watched the show. He didn't even talk to the wall.
more to the point - he should have had the other shareholders on speed dial..
Bahaha
13:26 I have never seen someone so happy being rejected, it makes you wonder he came on here for advertising.
Could be that. Or a sigh of relief that at least it was all over.
So the mystery is solved! The lift really doesnt move up or down
How do you know?
"Do you want to go and talk to the wall?"
Subtext: "Go and talk to the wall (and then give a different answer)."
Jenny: I don't like dogs and these freebies are not edible so am out.
Actually Jenny loves dogs.... she's out cause she has taken them for a walk
The dragons made a very good offer considering how underdeveloped the product is
“Can I not have mine delivered by a dog” so posh lol 😭
The title 😂😂😂 the one who wrote seems to either be really bored and tryna have fun or he has a grudge against the dragons 😂😂😂
Click bait-y ! 🤔 ..
"Touker time" sounds dodgy
So does everyone on these videos' comments making the exact same comment year in and year out.
Does it come with a happy ending though?
Only if u offer 69% of ur company
This guy was an ass. With only 1500 units sold this was a ridiculous valuation. Im surprised the dragons didn't chew him up even more.
Some dragon den pitches are just insane. 2million pound for that.
This is ridiculous. Why would a dog need a mobile phone?
agreed. and it doesn't even have 4G
@@Terry_Frost dogs only like phoned with 5G.
To call bech
Er...sorry but was you watching a different episode here? 🤔 The product wasn't a mobile phone for a dog. It was a neck band tracker.
@@ashleelmb but you need a mobile phone to use it
This clip felt much more obviously edited than the usual videos for some reason
First line - my valuation might be high..
Me - here we go.
Tobey Maguire looks a bit different since he quit acting and got into the pet business.
Yes I'm glad someone else thought that
looks nothing like him
Look like an older Tom Holland
Nick Jenkins is first to take the lead. Love the more subtle puns!
Hes a nightmare with his puns 😂😂😂
No one gives more straightforward advice and criticism than Peter Jones.
When ur dogs looking for those hard gains
The captions say PIZZA JONES
Ffs this comment again
lol you're right
lmfao
Shuddupya face Paul
🍕
He has never been the same since his hit single 'Walking in the Air'' . . . .
That deserves more than 7 likes Xx
I liked what peter said at the end. You guys saved £150k
Touker forgot to mention his office space!
Jenny: I'm sitting in this chair so I'm out.
I havent seen dragons den in awhile and I forgot how deep pete Jones can just ask a question
His valuation is based on his work he says at the start but he knows it's bullshit so doesn't dare say it to their faces as Peter used the key word - proprietary
Did some publicity for the product and saved his business, for me that's a good deal.
Deborah 'Do you want to go talk to the wall' Meadon
Why didn't Peter Jones just make an offer as he sees fit based on his valuation? 9:10 He suggests 50-100k for 30% which means he thinks the business is worth about £250,000. Why didn't he just make that offer and leave it to Andrew to opt-in rather than walking out entirely?
Interestingly, two other dragon value the company at around £750,000 (75000 for 10%), which demonstrates that Peter Jones is rather hawkish when it comes to these investments.
Touker, want 7.5% of Google? "7.5% doesn't give me enough incentive to roll up my sleeves."
I don’t understand getting upset about high valuations by the entrepreneurs. Just make him an offer for a lower valuation what’s the big deal? All valuations are projections in the end and aren’t current values
It makes for a bad starting point for negotiation, especially when there are other shareholders not present with whom an upper limit has already been agreed
People get upset the same way at ball parks when they see one plastic cup of watered down beer costs nearly $10.
Also, Dragons Den and others like it have a rule, the person says they need 500k, they cannot accept anything less than 500k. So if their business is only worth 50k, in order to make that 500k worth the investment the dragon would need to take 100% of the company until their money is paid back.
Valuations are largely based on what profits the company makes or has the potential to make. This is very very basic so you'll have to dig a little further but a 50k company will only make 50k profit to spread among the shareholders so at 500k investment it would take 10 years to get repaid. Not exactly a wise investment.
To me it sounds like the dragons are making up a nonexistent counter argument to attack and degrade an entrepreneur so they can manipulate them into thinking they are somehow wrong and accept an unfair offer. Which is fine if you recognize business is a dirty game, but to embarrass and portray entrepreneurs in such an unnecessarily negative light for the public to see is just cruel
Mind games - when they start attacking the evaluation its the starting point for negotiation
Classic example of an advertising only pitch, obviously wasn't interested in making a deal with a 2 million valuation for a dog app
The UK drangons are always very fair.
Totally agree.
how so ?
@@vader745 just watch dragons den Ireland and you will see what I mean. Those dragons are always trying to take 40-50% of the entrepreneur’s business. The uk dragons are fairly reasonable in my opinion.
@@ollyrhys1989 fair call, actually agree the English Dragons are fair, just wanted your perspective
Who watches this while having lunch?
6:00...palms are sweaty, knees are shakin, vomit on my sweater already fr moms spaghetti lol
JENNY: "I'll tell you where I am. I'm in Banbury Waterstones making a hat out of Costa Prize stickers."
Yea, the valuation was barking mad.
Ridiculous valuation. People dont seem to understand that just because they have worked really hard on their company, it doesnt make it worth 1 or 2 mil
Interesting, he stuck to his numbers, but does walk away with global exposure. Anyway, this was a long while ago. Wonder if he did well and what happened to the database?
“Our valuation may be high”
Me: “have you never watched the show before?”
For tracking I see the potential, even expanding to kids accessories etc
I JUST SAW A MAN WITH NO LIPS!!
Woman*
Products like this are so cruel
They should be banned
How is it cruel
@@benthompson8256 Didn't you hear him say it delivers high voltage electric shocks if the dog fails to meet its daily step count targets? (Jk)
What's your IP?
Me: I know this one! It's 192.168....
‘In face of a dogged Peter Jones’ Dear god.
This title evoked my curiosity. Well done.
Decent offer, should have taken it.
Dragons they’ll always be wondering.... Why Do these people come With such low requests if they prefer Money without help from an Investor .
'Do you want to go talk to the wall?'
Nah Jenny's OUT there.
edmund blackadder coc Jenny is scary. I don’t blame him.
Im infinitely bored to the back teeth of these Jenny jokes but this one i have to say had a kinda fresh feel to it, i chuckled somewhat. Well done, u managed to ressurect jennys out if only for a little while. 👍🏻
Tom Holland's older brother here has got some cooky ideas about what his company's worth.
He will seriously regret that decision
Didn't actually care how this went cause once I knew it existed I wanted one. If I have to wear one, so does my dog.
Surprised Nick didn’t just go it alone for 12.5%
That was ruff...
But does it give a bark count?
If the dog tracker fitbit idea falls through, he still has a promising career as a *K.D. Lang* lookalike 🤔
if a significant amount of people use this device/app and send pet data back to their servers, the potential money they could make by selling that data to pet food companies etc is huge. zuckerberg got rich by selling your data and advertisements
But as Peter pointed out there is nothing unique about the device/app/tech.
If the big pet companies wanted they could just easily come out with their own device. And they'd be in a better market position with the funds and expertise to back it up.
This guy is just a start up and didn't even understand the potential of the data he was just focused on the device until the Dragons pointed it out.
You're repeating what was already said
I think they know I watch Dragon's Den at launch time, so they upload at the right time
What are you launching?
Well, you do sound like a space-cadet, so I'm not surprised you're launching.
@@ultimanecat3091 It's not rocket science
I love these replies
Well golly, awesome stuff cadet. Happy landings, and let us know if u achieved lift off
6:54 I didn’t know Trish Stratus was a dragon 😜
Anybody else think that that lift does not move? Doesn't seem like there's a big enough gap between the platform and the floor of the lift... 🤷🏻♀️
I'd buy one for myself, just to motivate me to get off my arse.
I always don't know why peter always mad about valuations. None of the entrepreneurs right away saying their not open for negotiations. If you're an investor really you're always open for negotiations
Because high valuations with little to no turnover is just dumb naivety.
Jack Russell eat 15 min a day, sleep 3 hours a day and going wild rest of the time
Looks like David Cameron in the screen cap!
@Joe Ayres it does bad lol
My Cavalier King Charles Spaniel would never wear such a cheap looking thing
god forbid your pet is wearing cheap items
They value their business at £2 million
He just came expecting to know everything and failed
Its a woman, female attitude combined with a need to prove her masculinity
He's lucky he got 2 offers and REFUSED IT!!!
Tintin is that you my lad?
Does no one else gets annoyed at the fact the entire time he's trying to not laugh and smile like he knows something they don't it's so frustrating.
I’m with you on this.
It's because he/she only went on for the advertising, wasn't interested in making a deal
I agree and I actually hate him just to add that in
Tbh he just looked really anxious to me. Sometimes people laugh or smile as a nervous reaction.
So the 'dog and bone' man left without an investment - woof! woof!
This is one DD video I definitely won’t be putting on paws.