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

Summary

Nathan Evans and Patrick M Braun pitch their company, Brand Yourself, to the 'Dragons' seeking a £100,000 investment for a 1% equity stake. The platform helps individuals improve their online reputation by identifying and managing risk factors. Despite skepticism about the necessity of their service and concerns over their financials, they secure multiple offers, ultimately countering and accepting Peter Jones' offer of the full amount for 2% equity, valuing their company at £5 million.

Takeaways

• 😀 Nathan Evans and Patrick M Braun are seeking a £100,000 investment for a 1% equity stake in their company, Brand Yourself.
• 🎓 Steve, an Oxbridge graduate, exemplifies how a single negative online presence can ruin job opportunities, highlighting the need for Brand Yourself's service.
• 🔍 Brand Yourself's platform helps individuals clean up, protect, and improve their online image by identifying risk factors and assisting in removing inappropriate content.
• 💡 The initial report from Brand Yourself is free, but users can upgrade to a £70 yearly subscription for full access to features.
• 📈 Last year, Brand Yourself generated over £4 million in revenue and is on track to exceed £5 million this year.
• 🤔 Taz Levani questions the necessity of the service, suggesting that individuals could manually screen and delete offensive content themselves.
• 🛡️ Brand Yourself counters by explaining the time-saving benefits and the pervasiveness of online screening in various applications, including jobs, schools, and immigration.
• 🏢 The absence of social media can be a red flag to employers, as they seek positive online presence to reinforce their hiring decisions.
• 💸 Touka Suleiman and Deborah Meaden both offer the full £100,000 for 3% equity, while Peter Jones offers the same amount for 2.5% equity, indicating a competitive interest in the company.
• 📉 Despite high revenue, Brand Yourself reported a net loss of £450,000, which they expect to continue this year due to ongoing tech investments.
• 🤝 After receiving multiple offers, the entrepreneurs counter Peter Jones' offer, successfully negotiating a deal for 2% equity in exchange for the £100,000 investment.

Q & A

What is the name of the company presented by Nathan Evans and Patrick M Braun?

The company is called Brand Yourself.

What are Nathan Evans and Patrick M Braun seeking from the Dragons?

They are seeking a £100,000 investment in exchange for a 1 percent equity stake in their business.

What problem does Brand Yourself aim to solve?

Brand Yourself aims to help individuals clean up, protect, and improve their online reputation by identifying and dealing with negative search results or inappropriate social media posts and images.

How does Brand Yourself's technology work?

The technology scours the web, identifies risk factors that could hurt one's online reputation, and guides users through the process of finding and deleting inappropriate images.

What is the cost for users to access the full features of Brand Yourself?

While the initial report is free, users upgrade to a £70 yearly subscription to get full access to all features.

What was the revenue of Brand Yourself in the previous year?

The revenue of Brand Yourself in the previous year was over £4 million.

Why did the entrepreneurs choose to appear on the UK's Dragon's Den instead of the US's Shark Tank?

They had previously appeared on Shark Tank and received a $2 million offer, but they walked away from the deal as they couldn't negotiate terms and learned the value of having a 'shark' beyond just the money.

What was the net profit of Brand Yourself in the year the script was written?

The net profit was a loss of £450,000.

What offer did Touka Suleiman make to the entrepreneurs?

Touka Suleiman offered to invest the full £100,000 for 4% of the business and also provided 1,000 square feet of free office space in the West End of London for 12 months.

What counteroffer did the entrepreneurs make to Peter Jones after receiving his initial offer?

The entrepreneurs made a counteroffer to Peter Jones for the £100,000 investment in exchange for 2% of the business, with the condition that he would not dilute his stake in the next fundraise.

What was the final deal accepted by the entrepreneurs?

The final deal accepted was with Peter Jones, who agreed to invest the £100,000 for 2% equity in the company.