@@darkbydesign1031 Probably too much of a generalisation, especially with the "in life" bit, but yes, I'd say I like to see people arrogant enough to pitch their ridiculous ideas to experienced investors on international television taken down a peg
Those last two do my head in. They're being told quite bluntly that their valuation and margins look bad to investors and all their responses are wishy washy stuff like "we are fighters" "this is my dream" "we are just starting out", it's like they are auditioning for x factor.
This is X-Factor man. It just has different parameters, but same formula and values apply. Oftentimes, it's not the most talented or deserving that gets the dough.
The most delusional folks have the biggest (vapid) dreams, whether it's investment platforms like DD or Shark Tank or talent competitions...truly talented performers and $ucessful ideas, entrepreneurs are humble! If you have the goods, you don't have to force it upon others, argue or badger. 👍
Their response to Peter’s question “you’d think you’re the luckiest man alive” said it all really - if they truly believed in their business then the answer should have been “absolutely not, it will grow and become more valuable”!
I love how the dance mat guys seemed quite offended being compared to Twister, saying that it is more important than a game, when in reality, it would've probably gone down MUCH better if it was some sort of dancing game they were pitching and not an actual learning tool. People love to dance badly at parties, and that is the biggest application I can see this product working in, but other than that, it looks absolutely ridiculous
Not to mention dangerous 2 styles of dance done in their demo(break dancing and point work ballet) are incredibly dangerous to try to offer video classes for.
@@jph4852 lol that's what I kept thinking: this is the analogue version of "Dance Dance Revolution." I think they were a little too harsh on him; there were old-fashioned dance mats like this to teach people things like "the Lindy hop" or "the Charleston," they'd actually use them in schools (our Jr high had them in the late eighties) & people LOVE "DDR"--the trick is to memorize the pad so u don't HAVE to look at your feet...they were too dismissive, but the initial evaluation was to high. They needed to adjust their target market.
@@Okenpo You didn't understand what he was saying. The past is the past, you can't go back and change it, you understand that right? From that point in the dragons' den he has nothing more to lose so from this point onwards he has no risk, only upsides form having a dragon give him 2 mil.
Despite their confidence in their valuations, Gato & Co’s net worth has dropped by more than 50% from 2018 to 2021 (307k to 135k, respectively). Curious to know how steadfast they are regarding that $3 million valuation now in 2022.
Well we just started 2024 and the 2023 valuation has dropped to UNDER 50k pounds with 93k pounds in liabilities. Bankruptcy is coming but at least they managed to survive a couple of years, time to look for a job again.
Most people don't even THINK about valuation. They think: 1) How much money do I need? And then, 2) How much of my business am I willing to part with??
Plenty of variable clips , plenty of cringe ,plenty of tension, plenty of fun and bewildering entrepreneurs, plenty of sycophants plenty of clever editing, plenty of office space, plenty of controlled anger, plenty of children's inheritance plenty of dragon's den in a nutshell Plenty of consistentcy : Jenny is still constantly out
It's worth £3.9million, so it's slightly less than doubled in value in 9 years. That's not a great investment. They were right not to invest. If they'd invested £100k in 2012 they'd have made about £10k a year in profit.
I feel really bad for the guy with the old stations project. He spent everything he had on that project and I'm sure he didn't succed, you have to be crazy to sell your house to help finance a part of the projects if after that you would be still missing more than 2 millions extra to finish it.. what was he thinking??
......if it did work,,,,,,then they dont re new his lease....or let him get on with it all blow all his cash fixing everything up.....again not re new the lease....getting mixed up with T.F.L ??YEP..your question still stands.........what was he thinking?
duhh that's y he's looking for a bailout,, only way is if the investor buys it out and pays him a salary to finish it.. since they'd be taking all the risk y at 51% i'd need 100%.. basically to fund HIS dream lol similar pitches on other shows
Me! personally I like Peter Jones realistic mind set knowledge on operating a business and his intelligence on margin and profits should be.He puts people on the spot on how much money a business should be making.He weeds out people who lie about how much money there business makes.The females investors are no fools.Peter Jone would make an excellent Lawyer or business lawyer.
From Wikipedia On 24 February 2021, an illegal loan taken by the CEO Frazer Fearnhead, and the inability of The House Crowd to strengthen its balance sheet, led to the company going into Administration. All of The House Crowd's active development loans were in default. The company owed investors £52.7m in capital and interest.
Peter said exactly what I was thinking with that tourist thing….who wants to go into a bunker and re -live air raids for fun. And I LOVE history and going to historical sites. But his idea is just odd.
Madness. I'm ex military, and love military history. In particular armoured vehicles from ww1 to today. My grandparents told many stories about air raids, not once have I ever thought "I want to experience that".
Actually, there are people who relive ww2 battles so while i think there may be the exotic market, its quite small and niche and has little scalability
Personally I disagreed with Peter on the fear factor point for the war experience pitch. This country is obsessed with wartime recreations and people also still frequent the London dungeon and other places of the sort.
In reference to the £2m pitch for 51%. People don't realise that yes the dragons are worth £400million, Peter for instance. That doesn't mean he has £400m in the bank liquid cash. So a £2m investment for some dragons would actually not be affordable
@@maiyuwu4301 there is an episode where a man who is pitching gets confrontational with Peter and asks him how much money he has in the bank. He answers about 10 million. Now this is an older episode but that's more of the reality. Most of his money is tied up in investments and property. Only a small portion is actual cash.
student in manchester here, literally everyone uses sendmybag to get their stuff home now, so easy and cheap tbh i think the dragons missed out on this it’s gonna be huge
That is really cool. I thought they were a bit harsh. Yes, it can be replicated and the valuation was too high (and taking it global was going to be a huge stretch), but kudos to him for doing so well
@@intrepidtomato Right? I really hate the "what's to stop this from being replicated?" reasoning for not investing. Dude, EVERYTHING gets replicated, go to the store, look outside or online. The trick is to get there fast or first and do it longer, better, or with more precision and verve. You can only invent the wheel once, but lots of different things use wheels Lol
You on the other hand, are not a joke. You are a serial money maker, with high flying investments all over the globe...right?. Nobody hates you, you are universally loved by all...
56:36 "I wanted to be an entrepreneur that sells healthy brownies because I wanna be an entrepreneur..." WHAT? It would probably have more weight if they said something along the lines of ketogenic foods. Though the problem with ketogenic foods are the price. What they need is a large farm that utilizes more protein based plant materials at an affordable price. But the way that they want to expand is too big too fast. It's simmering not boiling.
lol the housing guy still didn't get it right at the end. It's not his words or attitude that was offensive, it's that he thought the dragons were dumb enough to hand over a million on essentially what will become a failure at best or ponzi scheme at worst.
Funny speaking guy valued his "thing" way more then its actual cost and to make things even worse he offers them a very cheap equity which is a punch to the nose of all the respectable investors, who kept their composure and handeled it professionally like they always do and for which they have my utmost respect and lots of love, prayer and support which they wont be needing for a few generations but still...they deserve it and much more
I feel so bad about the 4th guy, he seems so invested and emotionally attached to that project. And what he wants to do seems amazing for preserving history!
I had to skip that segment because I simply felt too awful for him. It’s a great idea and plenty of countries have similar ideas that are extremely popular - especially in the US
Peter Jones is entirely wrong. People love war experiences, and the underground experience would be unique and very interesting. I think it's high risk, but potentially very high reward.
SendMyBag is still going and, apparently, ships 250k bags a year (presumably pre-pandemic). Assuming they were at their lowest price tier, that's north of 5 million pounds a year, and they are also operating in the US (where domestic travel recovered very well). They only raised 100k Adam mentioned in the pitch. They didn't need the Dragons at all, but if they did invest it would have been non-dilutive at well below current valuation. 100k at 7% would probably be would have return somewhere like 5x - 10x. The insight of the Dragons is no better than guess work. Their model for thinking about new businesses - and competition especially - is parochial and outdated.
That £5million per year would be turnover and based on his figures he gave that would be around £1.5million profit. At 7% they would get their money back in one year. So with hindsight it would have been worth them investing. But it was still overvalued for where the company was at the time. The other investor had a much better valuation and if he went in there with that he may have got the investment.
@@westechmedia4567 When I hear the dragons talking about overvaluation I'm always reminded of cryptocompany EOS who raised over 4 billion dollars in investment as a startup, in 2018 in just a couple of months. For comparison, Uber needed almost 5 years to reach that amount. And the funniest part is that on their website, EOS explicity states that their software has no specific purpose. I wonder what the Dragons would have to say about EOS business plan when it was just a start up and what their reaction would be when they realized the company had already raised 4 billion despite having literally zero assets, except a white paper describing their blockchain and its theoretical possibilies.
48:45 - I do think though, that this investor hit the nail on the head in the elevator on the way back down. As he said (I’m paraphrasing), “I was friendly and open, Just Because I was Not in Complete Awe of Them - I was not being disrespectful……” etc. Yes, the ‘dragons’ do expect everyone that pitches, to be in complete awe, or they feel threatened immediately. They have a real “Don’t forget, I’m richer that you” air about them. Even like when one of them ‘dared’ to say to Deborah (I think it was), how he explains that property values can fall as well as rise; she instantly retorted with “well thank you for teaching me that….” In a really sarcastic tone. They feel threatened instantly. And the others are even worse than her. It’s just an ego trip, and a chance to belittle hard-working star-ups, when there no reason to.
I don't think I've ever seen anything that would indicate that. The truth is they want prospectives to respect the investment they would make and not treat it as superfluous. Which is what that guy was doing. The only dragon who I would say that this could apply to is maybe Duncan who had an annoying habit of being insulted just for someone considering another offer - but otherwise it's just respect. It's like going into a job interview and treating a potential employer as though their business isn't valuable. It's not going to make them a desireable employee is it?
All of the dragons are startups who came from little to nothing. Duncan was an ice cream man for example. His company hadn't made a dime and he wanted a million for it. He would be insanely lucky to get half of that. If I was a dragon I'd be fuming.
On his way in: "I can't wait to see the look on Deborah's face" ...it was a joke to him. They don't feel even slightly threatened. It isn't a simple check. They know who you want to know, they have guaranteed keys to open doors, and they aren't the ones asking another for money. It's not simple snobbery, it's a 'I've been there, I've done this and I can take you there', scenario. Each one started with nothing and risked it all to get there. Also for a person who has an iota of business sense, the valuation is what it is worth NOW. Not later on, not riding a wave, but literally now. That guy was selling google stock when it was still a business in a garage. That is the equivalence of what his valuation was.
Watching the Dragons tear apart ridiculous valuations is perhaps the most entertaining part of the whole show.
so what your saying is u like to see people less business savvy torn apart, anguished and embarrassed in life
@@darkbydesign1031 Probably too much of a generalisation, especially with the "in life" bit, but yes, I'd say I like to see people arrogant enough to pitch their ridiculous ideas to experienced investors on international television taken down a peg
@@darkbydesign1031 Cathy newman is that you?
His company is now worth 4 million mate
@@Ziggyoz What it's worth now has absolutely nothing to do with the valuation at the time.
That smile when Peter heard £1m for 5%. He was READY.
He's thinking what great television it's going to make and how good he will look in this piece.
Dragons smiling is rarely a good thing.
That dude was HIGH making that offer.
The guys clearly full of cocaine. Check his pupils 😂😂
Ready for what? He didn't even invest.
Shout out to my boss who allowed me to take an extra 30 minutes for my lunch so I could watch this
He da boss!
shout out to BOSS
hope u get rid of that boss soon.. by watching this..
@@ceeleegee825 da bowwwwwwz
What a legend!!!
Those last two do my head in. They're being told quite bluntly that their valuation and margins look bad to investors and all their responses are wishy washy stuff like "we are fighters" "this is my dream" "we are just starting out", it's like they are auditioning for x factor.
Lol Iam thinking of Simon Cowell when watching this. " It's a no for me"
This video perfectly sums up how I feel about this:
ua-cam.com/video/ttmsiU-GZlg/v-deo.html
I am 100% sure these two women slept with those delusional "FINANCIAL PROFESSIONALS" to get financing that valuation.
This is X-Factor man. It just has different parameters, but same formula and values apply. Oftentimes, it's not the most talented or deserving that gets the dough.
The most delusional folks have the biggest (vapid) dreams, whether it's investment platforms like DD or Shark Tank or talent competitions...truly talented performers and $ucessful ideas, entrepreneurs are humble! If you have the goods, you don't have to force it upon others, argue or badger. 👍
Theos face when the second guy replied "me" as though his mere presence was worth 2 million pounds 🤣
Theo?
Not just any £2million; £2million of Theo's children's inheritence.
Well I'm pretty sure they're worth a hell of a lot more than 2 million now so he kinda was.
You mean the third guy?
@@D4RKV3NOM yes. theo.
Love how Touker is always jumping up to try out everything that comes into the Den.
Big kid with money
“You miss a 100 percent of the shots you don’t take” - Tiger Woods
Remember he broke the bed? lol
I actually thought Touker was Theo for a while until I started paying more attention to their names, I thought he had aged horribly lmao
@@draculastraphouse7863 Lmaoooo
An hour long vid they know what the people want 👏🏾👏🏾
00:59 I swear they have a clip folder of "Touker looking overly baffled" that they splice into the beginning of each and every pitch.
I want a compilation of Touker looking overly baffled, haha
Excellent
Their response to Peter’s question “you’d think you’re the luckiest man alive” said it all really - if they truly believed in their business then the answer should have been “absolutely not, it will grow and become more valuable”!
Duuuh!
Yeah that was why he asked it... it was proof that they knew that asking for 150k for 10% was overvaluing it.
Time stamp?
@@MissSwordfish 10:40
they stopped posting on social media in 2016, its over.
Of course sometimes the Dragons get it wrong, but the dance mat, if that was a success I would be amazed.
There's only a ton of them on the internet for sale already.
@@getin3949 for sale, but sold?
@@A_massive_wog well it says the company is dissolved on companycheck...
Trust me. They brought nothing too the table. That was a painfully generic product.
Producers brought them on the show knowing they had ZERO chance of getting a deal
I love how the dance mat guys seemed quite offended being compared to Twister, saying that it is more important than a game, when in reality, it would've probably gone down MUCH better if it was some sort of dancing game they were pitching and not an actual learning tool. People love to dance badly at parties, and that is the biggest application I can see this product working in, but other than that, it looks absolutely ridiculous
Not to mention dangerous 2 styles of dance done in their demo(break dancing and point work ballet) are incredibly dangerous to try to offer video classes for.
That's essentially what Konami's Dance Dance Revolution is.
@@jph4852 lol that's what I kept thinking: this is the analogue version of "Dance Dance Revolution." I think they were a little too harsh on him; there were old-fashioned dance mats like this to teach people things like "the Lindy hop" or "the Charleston," they'd actually use them in schools (our Jr high had them in the late eighties) & people LOVE "DDR"--the trick is to memorize the pad so u don't HAVE to look at your feet...they were too dismissive, but the initial evaluation was to high. They needed to adjust their target market.
Worst idea for a business ever !
"I love your jacket, if you was a little bit slimmer I would offer to buy it!" 😂😂😂
Is anyone else on a Dragons Den binge?
Yesss
Sure am
Yes but the show annoys me more and more especially realising how little some of the panel are worth
Shark tank is where it’s at
@@anyexpatwhat are you on about they are all millionaires
Narrator: "Can Sarah see it?"
Sarah: "I just can't see it."
You can almost tell exactly what's coming next just by what the narrator is saying "Will Debra Meaden be impressed" Debra's not impressed. lol
‘I was born on a day but that day wasn’t yesterday’ I’m going to start using that😂
We say "I was born during the day but I wasn't born yesterday" where I'm from
In Australia the original saying is " I was born at night, but not last night" 😅😅😅
This is content for like 3days of eating thanks !
I know right I always seem to watch these while eating too :)
This comment made my heart smile😂😊
@@palesamphatsoe959 Your videos made me smile too 😂😂😂 good ones
@@copyy2323 reallyy, you watched them omg thank youu, I'm gladd they did ☺️😭
It’s always so hilarious how fast the pitches go downhill 😂
All down to editing.
I love when Tej trolls the other dragons
"I thought it was 1 percent" *smirks*
"There's no risk for you." Is an odd thing to say to a man who won't have a house to live in if it doesn't work lol
That already happened; it's not a risk anymore.
@@hughm1383 well he has to buy another one. Not likely if he goes broke doing this
Exactly he gave everything he had
@@Okenpo You didn't understand what he was saying. The past is the past, you can't go back and change it, you understand that right? From that point in the dragons' den he has nothing more to lose so from this point onwards he has no risk, only upsides form having a dragon give him 2 mil.
"ME there I said it" got me 😂😂😂
I have a real dragons den addiction , I check every lunch time & if one isn’t uploaded I sulk a little bit & hope for a better day tomorrow.
Touker is out because the dance mats take up too much office space
Oh, hahahahahahahahahaha...
Tbh its a big issue
Shouldn't be a problem, he seems to have dozens of empty offices in London
Despite their confidence in their valuations, Gato & Co’s net worth has dropped by more than 50% from 2018 to 2021 (307k to 135k, respectively). Curious to know how steadfast they are regarding that $3 million valuation now in 2022.
Nice info, thanks to you for taking the time for us other lazy ones 👍😜
gbp not usd, sir
Why in Hades would you use dollars and not gbp?
Well we just started 2024 and the 2023 valuation has dropped to UNDER 50k pounds with 93k pounds in liabilities.
Bankruptcy is coming but at least they managed to survive a couple of years, time to look for a job again.
Fraser's eyes were trying to escape from his head in opposite directions
Something incredible happens in the last 4 minutes 49 second but everyone with an hour lunch won't get to see
NHS only give you half hour unpaid lunch lol
@@MatteoBarrera4830 I don't even get out of bed for a half hour lunch
*laughs in x1.25*
No desserts for anyone it seems.
@MusicMaster1987 Thanks! Not everyone has English as first language. I knew I forgot something. :)
"I was born on a day, that day wasn't yesterday." CRYING
Touker hates rejection and always has to say he's out even when he has been rejected.
Ego!..lol
So does Jenny but that's probably because it's her catchphrase.
These videos are def very valuable!
Most people don't even THINK about valuation. They think:
1) How much money do I need? And then,
2) How much of my business am I willing to part with??
Jenny: I'm NOT gluten-intollerant and your product is gluten-free. For that reason, I'm out.
Ahahaha
🤣🤣
Interesting that send my bag seems to have gone on to be successful despite their scepticism and it's last accounts show net asset value of c.3.8m
Homeboys created a dance dance revolution mat without all the fun
Let us not forget... Rory the Seaweed Hunter thought Gross Profit was disgusting money!
I miss you lunch break colleagues
Evan Davis has presented Dragons' Den since 2005 and he is great
His puns sux .
They are like DAD jokes.
@@Mossyz. if you spell sucks like sux i automatically don’t value your opinion
except being a leftie d-bag
@@thiswasposted120 But do you Val U it?
Great face for radio though
I love how loud the music is, it really drowns out what I'm actually supposed to be hearing. Thanks DD.
Love it when Jenny throws a fit like she makes loads of offers in the den.
Just say you're out.
Hahaha at 1:04:40 the trolls behind the channel left us a present, thanks!
Plenty of variable clips , plenty of cringe ,plenty of tension, plenty of fun and bewildering entrepreneurs, plenty of sycophants plenty of clever editing, plenty of office space, plenty of controlled anger, plenty of children's inheritance plenty of dragon's den in a nutshell
Plenty of consistentcy : Jenny is still constantly out
Ajit's project seems like the submissions one makes in the early semesters in architecture school.
Deborah is the best 😂 her pose on the dance mat right before ripping them apart
I liked Adam the Irish guy. Very genuine.
He's actually been quite successful
@@jamesjiao pleased to hear it.
It's going to be a long lunch xD
.
Nooo get back in your wagie cagie
Makes up for none yesterday I guess!
@@jnymt7977 I felt lost yesterday!! 😕🙁😭
@@missceebrownin so true, lunch is not same without DD :)
Send my bag is now worth millions 😂
Highly doubt it
It's worth £3.9million, so it's slightly less than doubled in value in 9 years. That's not a great investment. They were right not to invest. If they'd invested £100k in 2012 they'd have made about £10k a year in profit.
@@StandardGoose spot on
I feel really bad for the guy with the old stations project. He spent everything he had on that project and I'm sure he didn't succed, you have to be crazy to sell your house to help finance a part of the projects if after that you would be still missing more than 2 millions extra to finish it.. what was he thinking??
I'm pretty sure he sued Boris Johnson for stealing his idea.
......if it did work,,,,,,then they dont re new his lease....or let him get on with it all blow all his cash fixing everything up.....again not re new the lease....getting mixed up with T.F.L ??YEP..your question still stands.........what was he thinking?
@@rita8684 why would you type like that?
@@siontifictm7366 his grammar is reflecting the instability of the project of the Indian chap.
duhh that's y he's looking for a bailout,, only way is if the investor buys it out and pays him a salary to finish it.. since they'd be taking all the risk y at 51% i'd need 100%.. basically to fund HIS dream lol similar pitches on other shows
a hour long video we are in for a treat
The second one "SendMyBag" has actually made it pretty ok, have net assets of almost 3 mil £ .
Try 1.3m barely, look at companies House.
he has a lot of liabilities
Touker does not handle rejection well.
Entrepreneur: "We dont want you"
Touker: "In that case, Im out" 😆
It’s sad I feel bad for him i have seen it twice
He would be better for this kind of business than Tej...
The company flopped anyway!
Send My Bag's current net worth is around 3,8 million dollars
Interesting figs. Classic style name (popular now) even the domain is going to worth a fair bit now!
Confirming that a valuation of 2 million pounds 9 years ago was way too high! A growing startup should increase a lot more in value in a decade.
@@adamjthompson Exactly
Send your nan
Why didn't Taj hit back at Jenny with " and you are normally out by now".
Love how all the dragons recognised the property scam. They aren't on those chairs for nothing
Me! personally I like Peter Jones realistic mind set knowledge on operating a business and his intelligence on margin and profits should be.He puts people on the spot on how much money a business should be making.He weeds out people who lie about how much money there business makes.The females investors are no fools.Peter Jone would make an excellent Lawyer or business lawyer.
He might be one. The other investors give legal documents, like patents, to him to read.
@@wvrjlEh Deborah mostly looks at the patents
From Wikipedia
On 24 February 2021, an illegal loan taken by the CEO Frazer Fearnhead, and the inability of The House Crowd to strengthen its balance sheet, led to the company going into Administration. All of The House Crowd's active development loans were in default. The company owed investors £52.7m in capital and interest.
Interestingly, according to companies house records, Send My Bag made over 3 million pounds profit last year.
I've checked and I couldn't find that.
Yup, found out it.
Sadly, they not started business in India. Which is a big missed opportunity.
If they maid 3 million profit why's their net asset worth only £2m?
£50000 at 1,7%. Each pudding is £2,55 with a margin of 13%. How many millions of years would it take for an investor to start making money?
Peter said exactly what I was thinking with that tourist thing….who wants to go into a bunker and re -live air raids for fun. And I LOVE history and going to historical sites. But his idea is just odd.
Madness. I'm ex military, and love military history. In particular armoured vehicles from ww1 to today.
My grandparents told many stories about air raids, not once have I ever thought "I want to experience that".
Actually, there are people who relive ww2 battles so while i think there may be the exotic market, its quite small and niche and has little scalability
@@superwatcher456 I think there's a world of difference between enacting battles and enacting hiding in a subway
Anybody notice the Editors wink right at the end, with that Jenny-quote, at 1:04:40 ? Just another reminder of how they read the comments :)
Personally I disagreed with Peter on the fear factor point for the war experience pitch. This country is obsessed with wartime recreations and people also still frequent the London dungeon and other places of the sort.
Agreed, could easily get 100 a day in London. His pricing / volume was way off though. Higher footfall and higher prices needed.
Yes, I wonder if he ever got it off the ground? I’m going to have to google it. I wouldn’t be paying 18 pounds however, I’m too tight.
Jenny's reality checks make me 😂😂 she sure gave the two young entrepreneurs a piece of her mind @57:15 - 57:30 😀😀
The black child in the blue vest is adorable.
The soundbite of Jenny declaring herself out at the end... 😎
The first one was not even worth 150k for 100% of the company.
Wasn't worth 1500 pounds, no sales, no patent.
You say that because you can't dance
@@BlissetEris no he says that coz he has a brain. Obviously you dont
@@lee6023 Triggered much?! Says the one for whom the joke went over his head... lmao... This brain remark is obviously projecting...
@@BlissetEris
If it was a joke it would have been funny. Your entire comment wasn't. Therefore not a joke. Learn what a joke is.
In reference to the £2m pitch for 51%.
People don't realise that yes the dragons are worth £400million, Peter for instance. That doesn't mean he has £400m in the bank liquid cash. So a £2m investment for some dragons would actually not be affordable
Can you explain more? I don’t really understand why they wouldn’t be able to afford it, thankyou! :)
Peter is worth over a billion
@sadiii6705 yeah if he sold everything tomorrow. He doesn't have a billion in liquid cash
@@maiyuwu4301 there is an episode where a man who is pitching gets confrontational with Peter and asks him how much money he has in the bank. He answers about 10 million. Now this is an older episode but that's more of the reality. Most of his money is tied up in investments and property. Only a small portion is actual cash.
@@danilutka ohh okay that makes lots of sense, thank you so so much!!!!
student in manchester here, literally everyone uses sendmybag to get their stuff home now, so easy and cheap tbh i think the dragons missed out on this it’s gonna be huge
Yup, they did!
The business is 3 times the value he projected.
He was really pitching for the purpose of international travel though. He was already very successful shipping domestically!
@@aaron8977 well he probably would need/want the help of a dragon for that which is why it isn’t so internationally known
That is really cool. I thought they were a bit harsh. Yes, it can be replicated and the valuation was too high (and taking it global was going to be a huge stretch), but kudos to him for doing so well
@@intrepidtomato Right? I really hate the "what's to stop this from being replicated?" reasoning for not investing. Dude, EVERYTHING gets replicated, go to the store, look outside or online. The trick is to get there fast or first and do it longer, better, or with more precision and verve. You can only invent the wheel once, but lots of different things use wheels Lol
“Dancercise” was a Fry and Laurie sketch wasn’t it
great bro
I remember those dance mat guys. They were a joke. Hated them and their idea.
You on the other hand, are not a joke. You are a serial money maker, with high flying investments all over the globe...right?. Nobody hates you, you are universally loved by all...
@@HIOP0 it was an absolute rubbish idea
@@OhElvira Good for you 🙂
@@HIOP0 Thanks ☺️
@@OhElvira Yes, you're doing quite well. Don't be complacent, remember there's always room for improvement. 🙂
56:36 "I wanted to be an entrepreneur that sells healthy brownies because I wanna be an entrepreneur..." WHAT?
It would probably have more weight if they said something along the lines of ketogenic foods.
Though the problem with ketogenic foods are the price. What they need is a large farm that utilizes more protein based plant materials at an affordable price. But the way that they want to expand is too big too fast. It's simmering not boiling.
Ketogenic food is a tiny market anyway, very few people should be on a keto diet.
Peter Jones is mortally offended by high valuations
Touker's objection to the dance mat's size is so funny... spreading greater than arm's reach apart is the first step of any exercise class
“Did your mat have a detachable towel?”
Theo called and said he'd rather spend 150k of his children's inheritance on chop sticks and he's out
lol the housing guy still didn't get it right at the end. It's not his words or attitude that was offensive, it's that he thought the dragons were dumb enough to hand over a million on essentially what will become a failure at best or ponzi scheme at worst.
1:02:01 when you walk into the bathroom on Taco Tuesday
Shout out lunch time crew!! I wanna know what you all do for careers lmao
I would guess most are unemployed, work for the government, in prison, or retired. So basically, the dregs of society😆
@@ifwecouldvote work for the government? Nice one mate.
Prison Officer.
Lol I watch this during lunch of my digital marketing job, so it's always fun for inspiration too & what not to do for a business
I'm a business analyst, basically I stare at spreadsheets all day, looking at things like company finances and employee performance :)
Dance mats business is doing well and turned over £1.37 in 2021
😆 🤣 😂 surprised that high 1.37
£1.37? That's not doing well. How dumb are you?
House Crowd placed in Administration on 08 March 2021. Who’d have thunk it!
Good, guy was a chancer and the idea was repulsive.
You
Certainly not you, as you are coming in after the fact.
The first one reminds me of the "Jump to Conclusions Mat" from *Office Space* lol
Dancing comes from the soul, you’ve got it or you haven’t, I’d rather play Twister on all 4s
I normally crawl sideways like a crab
They got the send my bag one so wrong.
"You're not fighters."
"It's okay."
after watching many of these dragon videos,can say that the dragons always have a smart point
That dance mat was like Twister with extra steps
"I have taken the decision, that this will be massive." LMAO
I wonder why more entrepreneurs don't take that decision.
I was born on a day but this wasn’t yesterday!!! Love a Peter Jones 😅
Touker had me dying when he pointed out the mats were too big and would take up a lot of space in a gym 😭😭😭😂😂😂😂
Funny speaking guy valued his "thing" way more then its actual cost and to make things even worse he offers them a very cheap equity which is a punch to the nose of all the respectable investors, who kept their composure and handeled it professionally like they always do and for which they have my utmost respect and lots of love, prayer and support which they wont be needing for a few generations but still...they deserve it and much more
Peter : I need to take a deep breath 😂❤
If I get one of those mats, will I be able to spin on my head?
12:44 "And look at this!" - Well mate I was trying to but the camera pulled away. :)
Did it have the detachable towel?! 😂😂😂
Hilary had more integrity than any of them, and a worthwhile story to listen to. RIP, you made the difference in many lives.
I feel so bad about the 4th guy, he seems so invested and emotionally attached to that project. And what he wants to do seems amazing for preserving history!
It's become an obsession where you never see reason, which is unsettling and a huge concern. This is ambition gone awry!
I had to skip that segment because I simply felt too awful for him. It’s a great idea and plenty of countries have similar ideas that are extremely popular - especially in the US
Peter Jones is entirely wrong. People love war experiences, and the underground experience would be unique and very interesting.
I think it's high risk, but potentially very high reward.
SendMyBag is still going and, apparently, ships 250k bags a year (presumably pre-pandemic). Assuming they were at their lowest price tier, that's north of 5 million pounds a year, and they are also operating in the US (where domestic travel recovered very well). They only raised 100k Adam mentioned in the pitch. They didn't need the Dragons at all, but if they did invest it would have been non-dilutive at well below current valuation. 100k at 7% would probably be would have return somewhere like 5x - 10x.
The insight of the Dragons is no better than guess work. Their model for thinking about new businesses - and competition especially - is parochial and outdated.
Thanks for this. I thought Adam handled the whole pitch with grace
That £5million per year would be turnover and based on his figures he gave that would be around £1.5million profit. At 7% they would get their money back in one year. So with hindsight it would have been worth them investing.
But it was still overvalued for where the company was at the time. The other investor had a much better valuation and if he went in there with that he may have got the investment.
@@westechmedia4567 When I hear the dragons talking about overvaluation I'm always reminded of cryptocompany EOS who raised over 4 billion dollars in investment as a startup, in 2018 in just a couple of months. For comparison, Uber needed almost 5 years to reach that amount. And the funniest part is that on their website, EOS explicity states that their software has no specific purpose. I wonder what the Dragons would have to say about EOS business plan when it was just a start up and what their reaction would be when they realized the company had already raised 4 billion despite having literally zero assets, except a white paper describing their blockchain and its theoretical possibilies.
Was going to say the same thing, saw their company when travelling a few years back. Obviously worked out for them.
The Send my Bag has built a huge company now and expanded into America .. over 40 staff and turning over millions …
The mats would have maybe worked in a COVID world of social distancing
Highly doubt it.
I love that Hillary has accepted that she's a key figure in the Church of Shoulder Pads.
I just wanna dance alone at home
DANCE ALONE DANCE ALONE DANCE ALONE DANCE ALONE
LET'S DISCOTEQUE...
48:45 - I do think though, that this investor hit the nail on the head in the elevator on the way back down. As he said (I’m paraphrasing), “I was friendly and open, Just Because I was Not in Complete Awe of Them - I was not being disrespectful……” etc. Yes, the ‘dragons’ do expect everyone that pitches, to be in complete awe, or they feel threatened immediately. They have a real “Don’t forget, I’m richer that you” air about them. Even like when one of them ‘dared’ to say to Deborah (I think it was), how he explains that property values can fall as well as rise; she instantly retorted with “well thank you for teaching me that….” In a really sarcastic tone. They feel threatened instantly. And the others are even worse than her. It’s just an ego trip, and a chance to belittle hard-working star-ups, when there no reason to.
I don't think I've ever seen anything that would indicate that. The truth is they want prospectives to respect the investment they would make and not treat it as superfluous. Which is what that guy was doing. The only dragon who I would say that this could apply to is maybe Duncan who had an annoying habit of being insulted just for someone considering another offer - but otherwise it's just respect. It's like going into a job interview and treating a potential employer as though their business isn't valuable. It's not going to make them a desireable employee is it?
All of the dragons are startups who came from little to nothing. Duncan was an ice cream man for example. His company hadn't made a dime and he wanted a million for it. He would be insanely lucky to get half of that. If I was a dragon I'd be fuming.
@@tylerstewart5829
Yes true….
Fuming LOL 😂
On his way in: "I can't wait to see the look on Deborah's face" ...it was a joke to him. They don't feel even slightly threatened. It isn't a simple check. They know who you want to know, they have guaranteed keys to open doors, and they aren't the ones asking another for money.
It's not simple snobbery, it's a 'I've been there, I've done this and I can take you there', scenario. Each one started with nothing and risked it all to get there. Also for a person who has an iota of business sense, the valuation is what it is worth NOW. Not later on, not riding a wave, but literally now. That guy was selling google stock when it was still a business in a garage. That is the equivalence of what his valuation was.
@@dougloremaster7413
Yes very true….and very well worded…..