All language subtitles for Dragons DenEver Pitches 4 Entrepreneurs Fight Back WEB h264 WEBTUBE_track3_eng

15 years, five chairs,

a lift and some stairs,

18 Dragons.

Yes! Yes!
I'm going to make you an offer.

It's all right them
making you offers

but I'm the only one that can
make this an overnight success.

£22 million pledged.

Thank you so much.

We've trawled our vaults to bring
you our favourite clips

from the past...
You would make my foot itch, mate.

..and present.
Howay. Shut it. Listen.

And pick some of the most memorable
classic pitches to show you in full.

Historic losses is last year!
Stop shouting.

Have you ever met someone
who's that ambitious that he wants

to be free from life
and be a billionaire?

What?! The big sales... Thank you.

..and the total fails. Hey.

Did you come in here
looking for a fight?

Tonight...

Tej, I'm going
to decline your offer.

..it's the entrepreneurs
who come out fighting.

I am answering your question,
I'm just explaining how I get there.

They don't pull any punches.

You're entitled to your opinion.

OK, Stephen. And I probably wouldn't
take your money anyway.

Are you for real?
They're not afraid to answer back.

Just to respond briefly,
cos that's quite a criticism.

They push the Dragons
to their limits.

That was one of my toughest
negotiations in the Den.

It's time for the best ever pitches
of Dragons' Den.

Fantastic.

This little piggy
has gone to market.

The Dragons
are a pretty stern bunch.

You're off the wall. You're feeling
very uncomfortable at this moment

and you damn well ought to be.
Aren't you?

But they don't always get
their own way.

20% is too much,
I've worked too hard.

And when the entrepreneurs
get fired up,

it can get quite lively in the Den.

You can't possibly have a patent.

I absolutely have.

That concept is patented.

Over the last 17 series,

we've seen deals being dismissed...

50%. No way, Jose.

..defiance under questioning...

I don't think I really do want
to discuss that here today.

..and tempers flaring. It's not
flippant, it's very serious.

We've seen reactions...

I find that fairly insulting.
..and retorts.

I would rather stick pins
in my eyes than invest in this.

I wouldn't want to work with you.

But when it comes to feisty,
this lot coming up are hard to beat.

Here's sports technology lecturer,
Dr Mike Caine,

who's come up with this cheeky
number - a vest that squeezes

your muscles when you breathe in.

We've made a small number
of these to test the concept

of providing an elastic load
around your thorax.

I love an elastic load
round my thorax,

but gym owner Duncan Bannatyne
wasn't so keen.

I employ about
300 personal trainers... Mm-hm.

..and they would say,
"You're wrong."

300 personal trainers?!

No wonder he's in great shape.

They would say you don't have
to overload the muscle.

You shouldn't use things
like that for your muscles,

you should tense muscles yourself.

Of course, one way to get tense
muscles is to pitch a product

to Duncan Bannatyne.

I just think what you're
talking about is a load of rubbish.

I think you're full of hot air

and for that reason, I'm not going
to invest, and I'm out.

But the entrepreneur
was having none of it.

Just to respond briefly,
cos that's quite a criticism.

I'm an academic at the UK's
leading sports university,

Loughborough University.

I have a worldwide reputation
for publishing good research

in inspiratory muscle training.

With all respect, you've made
an informed decision,

but it's not an expert decision.

I have a team of people who've
published PhDs on this kind of work

and it will work
because we know it will work.

Peter Jones certainly enjoyed
Mike's fightback.

I think you've put Duncan
firmly in his place

and I'm very personally pleased
that you've done that.

I don't think he has.

Er, I think he has, Duncan.

When Surrey-based entrepreneur
Jack Hanauer came into the Den

to pitch his word game, it led
to a right old war of words

with Peter Jones.

Each round, nine new cards.

Everyone played rather nicely
at first.

If I said here, for example,
spaghetti,

can you find the one card
of each colour that I'm describing?

Italy. Eat. Cook. Perfect.

That's the essence of the game.
Did I just win? You did. Yes!

But Peter Jones wasn't sharing
Deborah's love of the game.

I think that you'd get bored
very quickly

after playing it once or twice.

Actually, if there's ever
a demographic of the person

who's most hostile to it,
it would actually be yourself.

Men of a certain age, who come
and look at it and think... Uh-oh.

..and think, "I'm under pressure."

I think that's
an absolute load of nonsense.

Well, that's your opinion.

No, it's not my opinion.
I think that's just nonsense.

Well, it is because I've been
doing this for three years.

Yeah, you've been doing it for three
years... But I wouldn't do it...

..and you've sold 4,000 games.
Yes. But it's all about

getting it out there.
You haven't got it out there.

No, I haven't.
That's why I'm here.

This is not so much of a pitch,

it's like an argument
you'd have down the pub.

The Jack versus Jones battle
raged on, as Peter questioned

the packaging of the product.

That could be a magic box.
It could be.

It doesn't say what it does
on the tin.

Bertrand Russell said, "Anything
that can fit in a nutshell

"should stay there."

Who said that? Bertrand Russell.
Who's that? A philosopher.

Doesn't really matter who said it,
what matters is

is what he's saying.

After educating Peter,
it was time for Jack to get a lesson

from Deborah, who compared him
to a cactus.

You're oddly spiky.

Jack's game wasn't a winner,
but he felt the Dragons

were the real losers.

They didn't believe in the product

but I do think
they've missed a trick.

You'd have thought a lightweight
suit carrier for some snazzy

international travellers would be
a sure-fire hit with the Dragons.

If any of you want to come up
and have a look at how it works,

please feel welcome.

But when Patrick Tatham
came into the Den

to pitch
his ultra-compact creation...

Because the hanger has hinges
in it, it folds over

to be this super compact footprint.

..his funding of the business
created fireworks.

All told, my investment
has been 120,000.

So right now, your business
has debt of about 120 on the books.

It's not debt as such.

I guess it is debt, technically,
but it's directors' loans.

It is debt on your books.
I mean, it's money owed to you.

Yeah, but I would like to reassure
you that I'm not intending

taking back those directors' loans
any time soon.

Sure, but you've got that debt
on your book and how much...

Sorry, I don't... I really don't
think it's debt. It is debt.

Directors' loans are debt.

It's a liability. I...
Anyway, let's not split hairs.

It's definitely a liability,
but, um...

Oh.

But Patrick still managed
to bag himself an offer

from Sara Davies.

I would be willing to offer you

all of the money

for 50% of your business,
dropping to 35%

when you return me my investment.

But that wasn't enough for Patrick,
who was offering 10%.

I don't think I'd be
a very good businessman

if I accepted your offer.

I think where you're coming in
is too lowball really.

You're allowed to make me
a counteroffer. Sure.

It's OK. Do you know what?
I think we're too far apart.

You should make a counteroffer,
Patrick,

it could be your last chance.

Your offer really doesn't reflect
the value of the business

and its growth potential.

I think we're done.

Wow.

What?!

I cannot believe that.

Deciding what value
to place on a business

can cause all sorts of problems
in the Den,

like with our next entrepreneur,
who created what's known

in technical terms
as a right ding-dong.

Let's watch from the start.

Take it away, Evan Davis.

The Dragons are investing
their own cash in the Den,

so don't be surprised if they ask
searching questions.

How well will our first entrepreneur
answer them?

Hello. My name is Matt King
and I'm the inventor of WeQ4U

and I'm pitching today
for a £150,000 investment in return

for a 1% equity stake for
my established, profitable business.

Matt, sorry to interrupt you,
but did I get it right?

You said 150,000 for 1%.

That's right, yes.

My company specialises
in helping people get through

to busy call centres
without having to wait on hold.

And I'm going to show you how we do
that with one of our products,

the WeQ4U app, which is available
as a free download.

To use it, you just open the app,

enter the number you wish
to reach and hit "start call".

PHONE RINGS

RECORDED MESSAGE: Remember, if you
get stuck in a queue, just press 9*

and we queue for you.

So now we're being put through
to the call centre.

RECORDED MESSAGE: Thank you for
calling. All of our agents are busy

at the moment... OK. So now
we're stuck in the queue.

We just press 9*.

RECORDED MESSAGE: Please hold
for the next available a...

Thank you for using WeQ4U.
OK. Now we can end the call.

There we go. And now we're waiting
in the queue

but your phone's no longer connected
to the call.

Rather, we're queuing for you, and
you'll be reconnected automatically

when the agent answers.

It's a real no-brainer
for anybody to use.

Now, the WeQ4U app
is not what we sell.

What we sell is the business product
that we sell to call centres.

And that's actually the main focus
of our business because it generates

substantial ongoing revenue streams
for us, and we already have several

high street brand name customers.

And last year, we sold
over a million minutes of WeQ4U

for business
to UK call centres alone.

Thank you very much
for listening to me today.

A highly professional pitch
from South Londoner Matt King.

His technology combats the annoyance
of lengthy waits on hold

to customer call centres.

But he's looking for an investment
of £150,000

in return for just 1%
of the business.

Hilary Devey needs more information.

Right, Matt, hi, I'm Hilary.

Hi, Hilary.

Tell me about the company to date.

Well, we turned over £300,000
this year.

Over 50% of that is profit. Right.

Don't go so fast. Sorry.
You turned over 300K... Yes.

..this year. Yes, this year.

What was the profit?
The profit was £152,000.

Is that net profit or gross profit?
That's gross profit.

So what was your net profit?
We paid off all our loans.

Our net profit this year, er,

I think it's around £40,000.

Um, so what you're saying is,

you've valued a company
at £15 million

that turned over 300,000, with
a net profit of 40,000. Yes.

How have you arrived
at that valuation?

Well, we're looking at the size
of the market, really.

According to the Department
of Trade and Industry,

the UK market's worth £300 million
alone. You can't...

Cor. Are you for real?
Mm-hm.

A focus on the valuation
and not the new technology

is not an ideal start
for any entrepreneur.

How will Matt fare under
interrogation from Duncan Bannatyne?

Matt, can you explain to me
how the Department of Trade

and Industry evaluated the market
for people who want to buy an app?

Sure. So there was a recent study

by the Department of Trade
and Industry that found

there were 6,200 call centres
in the UK

with ten or more staff
taking or making calls.

66% of those are inbound positions,

and the average agent's salary
is £15,000 a year.

The average reported answer rate
at the call centres is 95%.

So if you multiply...
I don't know what any of that's

got to do with my question.
I am answering your question.

I'm just explaining
how I get there. Today. Yes.

So if you multiply all that,
that means that the current spending

on answering inbound calls
is £13.7 billion a year.

So that means that the 5% of
abandoned calls, by the same logic,

are worth at least £700 million
a year in the UK.

Matt, this is a complete wind-up.
Why are you here?

This is not a wind-up.
No, of course it is. You're not...

Listen, you're a sensible guy.
You're not delusional.

You're trying to have a bit of fun.

The fun is about to backfire
very seriously

and you're about to go up those
stairs faster than you came in. OK.

Why on Earth would you come in here
and try and suggest

that a business that is making
diddly squat is worth 15 million?

Well... And you have a technology
that isn't proprietary. It is.

Technology that can be written.
No, it's not.

Can you ask him the question
that he hasn't answered?

Like, does the call centre
need to have his software on

for the app to work? Yes or no?

No. This is cannot be answered
with a yes or no answer, I'm afraid.

So the app is distinct
from the WeQ4U business solution.

And if they have the business
solution, then nobody needs the app

to get through without waiting.

That's the answer.

Matt, you have created something
that you are selling into a market

and you're making a bit of profit.
So far, so good.

The trouble is, what you have
told me in coming in

and asking for £150,000 for 1%

is that you might be bordering
on the arrogant. OK.

Because I have to tell you,
I know what you're going to say.

I can absolutely guarantee,
you're going to cite all of those

big social networking sites

that started in somebody's garage

and because of the size
of the market... Look at it now.

I'm sorry but, at that stage
in their early days, they were not

valuing their business
at 15 million.

So unless you can tell me
in 30 seconds flat

why you think it's OK to come in
and ask for 1% for 150,000,

I am absolutely as quick
as anything going out. OK.

Well, I'm going
to start with that then.

Really, a business is worth what
people are prepared to pay for it,

and what the vendors are prepared to
accept for it. That's the reality

of the situation that I'm
sure we're all aware of.

That's used ten
of your seconds, so... OK.

I am going to use the Facebook
example, because they did

a valuation of 104 billion,
based on just 1.5 billion...

OK. Having told you
that I'm not accepting that... Yeah.

..you've got ten seconds to come up
with something other than

the same old, same old. This is
a unique product in the marketplace.

It is the best product
in the marketplace

at solving this problem,
which costs call centres

a huge amount of money every day.

I have to tell you, this is
disappointing. OK. You are smart.

You've got a product that works.

If you'd come in here
with a sensible valuation,

asking for a sensible sum of money,

I'll bet you I'd have invested
in you. Right.

But I'm sorry. For all of
the reasons I've just talked about,

I'm out. All right.
Thank you, Deborah.

A first and early blow
for the confident entrepreneur,

but there are still
four Dragons left.

Will Theo Paphitis
be more forgiving?

Matt, what's your background?

I've been programming computers
since I was seven years old.

I hold a double first class degree
in Physics

from Keble College, Oxford,
and a lot of the maths from that

has gone into the product.
I've worked for IBM and Logica

and I spent five years in
San Francisco learning how to do

Silicon Valley start-ups.

Silicon Valley start-ups.

Right. My view is
your whole business plan is flawed.

First of all, any business
as a call centre that takes so long

to answer is disgusting.
But that's not what we're doing.

So the first thing they should be
doing is being encouraged

to sort themselves out.
Simple as that.

It's so far off humanity's radar.

You know what? I don't want
to listen to any more of this...

But you shouldn't be there.

..because we have the same views
on how the call centres are.

I've done this as a disgruntled
customer. Yeah.

Trying to make things better.
But you're making it worse

for the rest of us. What are you
doing to try and make things better?

I'm complaining. I think everyone
should stop using them.

And then, when they lose
their customers, they'll give

proper customer service. Well,
that's what... Look, I'm talking.

So that's what should happen.

I can't invest, so I'm out.

A tetchy exchange of opinion,

and one that results in the loss
of another Dragon.

The bad news for Matt is that
it doesn't look like Peter Jones

is ready to let him
off the hook either.

Matt, you're an intelligent guy,

but do you understand the alienation

as a result of what you've done?

And I don't think it has anything
to do with the thing

that you're trying
to describe to us.

I think it has a lot to do
with the credibility of you trying

to come in here on a wing
and a prayer and suggest

that you have a business
that is worth 15 million.

OK. To come in with the offer
that you put across today

is bordering on insulting.

That's why I'm going to tell you
that I'm out. OK.

Er, Matt... Yes.

One of the things that call centres
are doing now is trying to encourage

e-mails rather than telephone calls.
Mm.

Is that not really...?
Yes, there are some companies

that are starting to do that.
In fact, some of them are even

closing their customer services
lines

and saying it's all e-mail now,
but people are feeling

very disenfranchised
by that sort of operation.

Point is, if you make a telephone
call, you're there

listening to the phone ringing,
listening to the message.

If you send an e-mail... When an
e-mail comes in, it comes back in.

Yes. And we bring that
to phone calls.

So I think that will prevent
your business expanding

at a rate that it will be worth
£15 million in my lifetime.

We're just looking at expanding.
So for that reason, Matt,

so for that reason, Matt,
I'm going to say that I'm out.

All right. Thank you very much.

Matt, I'm much younger
than Duncan, actually,

and I couldn't see a return
in my lifetime either.

In fact, I couldn't even see

a return in my son's lifetime.

Would you like me to demo
the business version

of the product first?
No. No. No, I wouldn't. OK.

What happens to the call centres

that say, "All our operators are
busy at the moment?"

They've actually clocked
your number.

One, two, three, four, five,
six, seven.

Oh, we think
that's a really bad idea.

We will return your call
within one hour. OK.

What's wrong with that? When you're
making one of these call-backs,

you're actually taking an agent
off taking those inbound calls.

So let's say you've got ten agents.
Somebody requests a call-back.

In the next cycle, you've got
nine agents taking calls...

No, you're not - it's automated.

..and one person
making outbound calls.

So now your inbound queue is getting
longer because you have fewer agents

taking the inbound calls. No, no.

So pretty soon you find you have
eight, seven, six, agents...

Have you ever run a call centre?

..and pretty soon you find
you're an outbound call centre.

Did anybody ever tell you
that God gave you two of these

and one of those?
I believe that's the first time.

Well, I'm telling you now.

And also, please use them wisely.
OK.

So would you like me to finish
explaining what the problem is

with that system or not?
Not really. No. OK.

There are systems out there
that will log your number,

log your call and an operator
will return your call.

Well, the feedback that we've had
from companies that have used
that system is that...

They are automated. Not only are
they automated. Will you shut up?

Matt, I'm out, also.

All right. Well, thank you
for taking the time

to almost listen to me today.

Matt may have defended his business
valiantly, but it was the value

he placed on it that seemed
to incense the Dragon investors.

He leaves with nothing.

JOE: Sometimes you'll get more out
of the Dragons by standing your
ground.

Looking for a £50,000 investment

to take his Wrexham Pub
Poker League national

was appropriately poker-faced
Steve "The Badger" Bellis.

This can be
an absolutely massive business.

But Peter Jones didn't agree.

Any pub in the land could do exactly
what you're doing.

They can indeed.

That's probably why... This is
by far as a business opportunity,

not the nuts.

That's great. You're entitled
to your opinion.

OK, Steve... I probably wouldn't
take your money anyway.

I'd be stupid to actually accept
money from someone

who thinks it's doomed to fail.

The Badger was giving Peter
a right savaging,

and the other Dragons loved it.

I love your confidence
when you're taking flak

and you're holding it.

And Steve's boldness...

This is probably the best gamble
you'll see for quite some time.

..convinced Richard Farleigh and
casino-owning Duncan Bannatyne

to roll the dice.

We would want 50% of the equity
for £50,000. Mm-hm.

You're looking for an answer?
Yeah. No.

Succinctly put, Steve.

I'm happy to negotiate equity
if you're happy to negotiate price.

£75,000 for 40%.

By asking for more cash
than he was originally seeking -

the first time this had happened
in the Den -

Steve had made a little history,

but Duncan and Richard weren't going
to fold.

£30,000 for 20% of the equity.

Yeah.

This means the Dragons have
massively increased their valuation

of his company from £100,000
to 150,000.

And that vote of confidence
draws in other Dragons,

who all want a piece of this badger.

I'll give you 32,500 for 20%.

And if Deborah will do the other
32,500, you get 65,000 for 40%.

With his poker company now valued
at just over 160 grand,

Steve was a happy bunny.
Er, I mean badger.

Yes, I'll accept the offer.

And he walked down the stairs with
15 grand more than he came for.

Now here come Euan McCreath
and Brian Smillie -

he actually doesn't look that
smiley - with a gorgeous

little product called Beezer.

It's an online tool for you
to create your own mobile apps.

Whenever we pitched,
we've had a 100% hit rate

in terms of pitched
versus investment,

so I'm very confident.

Anyone like it?

I really like it.

And Deborah's not the only one.

These lads seem very popular.

Guys, I think what you've built
is very clever.

And the offers soon start
rolling in.

I'll give you all the money.
I want 10%.

8%.

I want 6% of the business.

I want 15% of the company. OK.

Not reading the room, Peter.

I don't know whether to cry
or fall down.

Of course, being super confident,

our Brian was going to try
and negotiate.

If anybody was prepared to accept
£125,000 for 5% equity

in the business,
I would do the deal here today.

And Brian's dreams came true,
because here's a Dragon

who'll take that offer.

I'll do the deal for 8%, but drop
to 5% if I get my money back.

You'd do that deal? Yeah.

Anybody else?

Tej, I'm going to decline
your offer.

Oh, Brian, Brian, Brian.

Deborah, I reach out to you on that.

Touker, thank you for your offer.
Oh. Oh, gosh.

You don't want my offer. Yeah.

I'm out.

Brian's brinkmanship looked like
it was backfiring in a big way.

Oh, that's a shame you did that.

Until that point,
you were faultless

but actually, that was a bit
of an impetuous thing.

You have got Dragons here who are
going to add massive value.

I appreciate that. Oh.

You know what, Brian,
I'm really shocked.

You've alienated one Dragon
to my right,

and then you go straight to Deborah,
which has now alienated me.

Yeah.

But despite the awkwardness
of the situation... OK.

..Brian managed to get back
into the driving seat.

Are you still in, Peter?

I am still in, but I'm in at 15%.

Do you know what?
I'm going to go with my gut on this.

And my gut says...

..go with you, Peter.

Wow. Well done.
Peter, that was fantastic.

Thank you. Thank you.
I appreciate that. Thank you.

And for once, it was the Dragons
who'd been made to sweat.

That was one of my toughest
negotiations in the Den.

That's how I'm feeling right now.
I'm actually clammy.

Let's move on.

When fish and chip shop owner
Rashpal Dhillon

and her sons Gurminder and Arminder

came in to pitch the boot buddy,
a magical cleaning device...

That's it. Away you go.

All you have is a really simple and
easy method of cleaning your boots

in seconds. ..Peter Jones got
to the heart of the product...

It is just a water bottle
with a brush on the end.

..and Deborah Meaden was ready
to wave the red card.

I'm not into football.

I just don't think
I'm the right fit for you.

But Rashpal and Gurminder weren't
about to let her go that easily...

It's not just football

that we can restrict it to.

..and set about convincing Deborah
she was making a mistake.

Dog walkers, golf, and also the
people who work on building sites.

You know, if you change
the bristles,

make them harder, you know.
That's...

So anybody with muddy boots.

She's persuasive, your mother,
isn't she?

Well, that's something you don't see
every day in the Den,

or indeed ever.
I would love to be involved.

Deborah changed her mind and
invested along with Touker Suleyman

and Peter Jones.
Three's my favourite number anyway.

Well played, Mum.

Our next entrepreneur stood his
ground and ended up at the centre

of a right old scrum. Staying calm
under pressure is the key here.

Let's watch it from the start.

Hit it, Evan.

EVAN: Our final entrepreneur
into the Den

is Manchester-based John Kershaw.

I think I'm excited.

I might just be bricking it.

My biggest challenge in the Den
is going to be getting

across the idea
that my business has value,

even though it doesn't yet
have very much revenue.

That's going to be the big thing
that's probably going to trip me up.

Hello, I'm John.

I'm from M14 Industries

and we are a dating company.

This £3 billion-a-year industry
gives you effectively two choices -

you can sign up to a service
like match.com or OkCupid,

answer hundreds or thousands
of questions all about you

and what you like to do
on a Friday night,

and they use this information
to match you with people

who are sort of like you.

Or you can sign up to one of the
apps like Tinder or happn.

And these do away with all
of those questions and instead

give you effectively a list
of people for you

to swipe your way through.

These apps are very fashionable.

They're very cool,
they're very mobile-friendly,

but they're very bad at actually
matching you with people

that you have anything
in common with, except proximity.

We think the solution is
with simple, niche dating apps.

By targeting a specific niche,
you can get the specificity

of a service like match.com
and blend it with the simplicity

of a service like Tinder.

Bristlr is our first product.

Bristlr matches those with beards
to those who want to stroke beards.

DRAGONS LAUGHS

Don't worry, it gets better.
It's fine.

So Bristlr's been a huge success.

Since we launched
a little over a year ago,

we've welcomed more than
150,000 people to the platform.

We've made more than half
a million matches between them,

and I've personally
had a bunch of wedding invites,

which is just really lovely.

We've received national
and international press coverage.

The Evening Standard put us
alongside apps like Uber

as one of the top 30 apps
for Londoners,

and Time Out New York listed us

as one of the top ten apps
for New Yorkers.

Now we're looking to expand.

I'm here to ask for £80,000

for 15% of M14 industries

to allow us to grow beyond beards.

We are opening up our technology
to allow anyone or any company

to have their own, fully-managed
dating or social app.

And...it's just very exciting.

So thank you very much
for your time.

I look forward to your questions.

A pitch with passion from
hirsute hopeful John Kershaw.

He wants £80,000 in return for
a 15% share of his tech business,

providing bespoke dating
and social apps.

Deborah Meaden
already seems smitten.

You see... Can I just tell you?
I loved that as a pitch.

I always say to people, "Just speak
what you know about

"and do it with passion,"
and to end up saying,

"Well, it's just so exciting."

I love it. You've got me already.

Right. So at the moment,
you're trading.

Are you making money? I mean,
describe what the business is

doing at the moment.

As far as Bristlr's concerned,
it's turning over

give or take £1,000 a month.

But it's our proof of concept.
We set it up, we pushed it.

And it's just rolling and bringing
in as much money.

As far as M14's concerned,

we have one of the largest
radio networks in the UK,

on board, fully signed up.

We've signed with one of the largest
publishers in the world

to start developing for them.

These contracts that you've just
signed... Yes.

You mentioned you signed one with,
who was it?

Er, I can't say the name.

Right. So, like Global?

Er, that could be them, yes.

Yeah. Is it them?

Yes.

If you've just broken my NDA,
I'm going to be so mad, but...

OK. I'd like it known that
he said that, I didn't.

I'm bad at secrets. I'm sorry.

Didn't take long, did it?

You guys are good. Um...

To be fair, you're rubbish.
It's not that we're good,

you're rubbish. Come on now.

You cracked too easily,
you cracked too easily.

I quite like the fact
that we're good.

Um, OK. So you've signed
with a radio business.

By the way, I think
that's quite good.

What will that give you
in terms of income?

We're anticipating it to be
in the region of tens of thousands

per year in recurring revenue. OK.

The entrepreneur's disclosure

of a potentially profitable media
partnership appears to be wooing

Peter Jones, but is retail tycoon
Touker Suleyman

playing hard to get?

The fact that you're focusing
on the dating apps,

surely, once most of them
go out of business

and the top 20 or 50 apps are
there... Mm-hm.

..you're going to run out of
business.

So in the same way we went
from Bristlr to dating,

we see it as progressing
from dating into social apps.

Right. So, for example, we have
a client called Bump,

and they are for single mums and new
mums to find other single mums

and new mums.
That's not a dating site,

but the way you match-make people
with similar interests,

that's kind of where
we see that growing.

John's forward thinking
has certainly clicked

with Touker Suleyman, but can
he convince Sarah Willingham

that his app design company
can scale up to a serious size?

How many people realistically
do you think you can reach

and what does that mean in terms of
revenue? Just paint me a picture.

In terms of dating, we think
the market cap that we can reach

in the next several years is
about 10,000 individual partners,

which would turn over
around about 100 million.

Based on what? Where's that
100 million coming from?

Based on the size of the industry
and the number of niche websites

that sprung up and the amount
of demand already out there.

But, John, you're talking about
finding 10,000 Bristlrs. Yeah.

Er, yeah. Is that really possible?
Yes.

Some will be Bristlr size,

some will be ten times the size
and some will be ten times less.

We're not talking about...
No, I understand that

but the ones that are ten times
the size are not going to use you.

They would start with us, because...
They'd leave you.

There's no real need to leave M14
because for them to run

their own technology, for them
to have their own developers

and for them to do their own
customer support would cost

more than we are actually
effectively billing them

because we have
the economies of scale.

The self-assured app entrepreneur
appears to have an answer

for everything, and it's prompted
Touker Suleyman to make up his mind.

You're very credible. Thank you.

I want to get my toe
in the water with you. OK.

I'll make you an offer.

I'm willing to put up half the money
for 12.5%.

If one of the other Dragons
wants to join me in this journey,

you know, that is my offer.
OK. Thank you.

A proposition from Touker Suleyman,
not just to the entrepreneur,

but to the rest of the Den.

So far, online innovator
Nick Jenkins has kept his counsel.

Is he about to declare his hand?

I see the beauty of what
you're trying to achieve.

I know it makes
a lot of sense to me.

I'd like to make you an offer.

I'd like to make you an offer
for £80,000 for 20% of the equity.

That'll be my offer. OK.

A second bid for the entrepreneur's
business as Nick Jenkins offers

the full cash, but bypasses
Touker Suleyman's suggestion

to split the investment.

Which way will Sarah Willingham go?

I'd also like to work with you,
and I'd also like to invest.

I will offer you all the money...
Mm-hm. ..for 20% of the business.

Or I will offer you actually
any - on the same proportion -

any proportion
with any number of Dragons.

But I would just like to go
on this journey with you.

OK. Thank you.

Three potential matches.

Touker Suleyman's offered half
the 80,000 for 12.5%,

Nick Jenkins,
the full amount for 20%,

and Sarah Willingham is so keen
to do a deal, she tables

an open-ended offer to split
with any of the Dragons

on any of their terms.

What's up Peter Jones's
sleeve? John...

I'm going to tell you where I am

because I own a company called
Brandpath, Brandpath Commerce,

and we are now... I don't know.

We're a top-ten global player
in e-commerce.

And I was sitting here thinking,

"Have I got a conflict
of interest?"

But I've come to the conclusion
that regardless of whether

I have a conflict of interest,

I'd like to invest in you.

You are probably one of the most
appealing individuals

to invest in that I've seen
in the Den for a long time.

I think I'm blushing. Genuinely.

Oh, thank you very much.

With your level of knowledge
of where to take this business

and the support that I could give,
I think that...

I think we'd be a really good team.

So I'm going to make you an offer.

So I'm going to offer you
all of the money for 20%. OK.

But likewise, if Nick would want
to share it, I'd be very happy

to share the investment
with Nick as well.

I'd be very happy with that.

I think you'd have a much
greater chance of success

with the pair of us working on it.

Thank you.

Peter Jones and Nick Jenkins join
forces in a strategic bid to seal

a deal, but their equity demand

is 5% more than John wanted
to give away.

Is Deborah Meaden
about to up the ante?

So I'm going to make you an offer.

Um... And I'm going
to match these guys.

I'm going to make it
really hard for you.

I'm going to say exactly the same
thing, which is that I'm going

to offer all of the money,
which is 80,000.

I want either 20% of the business

or I'm happy to share
with any of the other Dragons.

That's my offer.

A major coup for John, as all five
Dragons are feeling the love

and showing the money.

But as Nick Jenkins and Peter Jones
join forces to try to clinch

the deal, it's time for a tenacious
Touker Suleyman to get tactical.

I'm going to offer you
all the money.

I thought you'd already made
an offer. No.

He can make more offers. I did,
but I can change my offer, can't I?

Don't look at me! I can change
my offer. Yeah, yeah, yeah.

You want to change your offer now?
I want to change my offer. Right.

OK. I want to give you
all the money... Mm. ..for 15%.

That's shaken it up a bit,
hasn't it?

Wow.

I need to put this in a spreadsheet.

Realistically, to summarise, I think
you've got the pair of us for 20%

and then the other combinations
would be either Deborah on her own,

Sarah on her own. Sarah and myself.

Yeah. And, but, or...

..you've got all of it with Touker.

Or I would share with somebody
if somebody felt they wanted 7.5%.

I won't do that. So I'm probably...
It's either me and Sarah...

Me as an individual or me and Sarah.

OK. I'm going to pace
around anxiously for a bit.

Do that, do that.

It's the entrepreneur
who is firmly in the driving seat

and the Dragons,
who must sweat it out.

Will he go for a deal that means
giving away 5% more equity

than he intended,
or opt for Touker Suleyman,

whose revised bid for a 15% stake
undercuts them all?

I've finished computing.

Thank you all so much
for the offers.

I don't know, it's a really nice
sort of vote of confidence.

But I think just
by sort of experience...

..I'll have to go with you two.

So I'd like to accept your offer.
Well done. Congratulations.

Thank you very much. Well done.

That was unexpected. Well done.
You're very credible.

Yeah. Well done.
Thank you very much. Oh, great.

Well, I'd best get back to work.
Thank you very much.

I thought he was great.

A thrilling finish for
the app entrepreneur, as he picks

his perfect investment partners.

It definitely hasn't sunk in yet.

I think what happened in there
was amazing and wonderful

and I'm very lucky.

Congratulations, guys,
I'm very jealous.

You know when you have to smile
and say congratulations,

and you're like that... Urgh.

"I'm so happy for you!"

I get that. Brilliant. Brilliant.

JOE: Of course, if you want to get
your own back on the Dragons,

the best thing to do
is become a massive success

without their involvement.

Revenge is a dish best served
fabulously rich.

That's certainly true in the case

of Trunki, the colourful kids
suitcase created by Rob Law.

Meet Terrance and Trixie,

the world's first ride-on suitcases

for globetrotting tots.

Here we go. Have a go on Terrance.

Richard Farleigh took Terrance
for a test drive.

But when Theo Paphitis famously
turned his attention to Trixie...

..Rob's pitch imploded.

You've pulled the hook off her,
yeah? I've noticed that one.

I shouldn't have done though,
should I?

So why did that happen?

Um... I'm...

..not entirely sure.

The Dragons were sure
they'd seen enough.

No deal.

The moment Theo pulled that handle
off, the whole integrity

of the quality of that product
was compromised.

You think you have something.
I tell you, you don't.

Well, he does, actually, Peter.

A company that's turned over
180 million quid, to be precise,

after selling over
four million Trunkis.

If only you hadn't pulled so hard
on that handle, Mr Paphitis.

Here's a future gold mine
our Dragons can't fail to spot.

Online platform Hungry House -
the company that kick-started

the online takeaway delivery
explosion back in 2007.

Hungry House is a website that
makes it easier than ever before

to find a takeaway restaurant
and order a delivery.

You get a personalised directory
of your local takeaways.

It's a bit like
the Yellow Pages,

but all the menus are right there
too.

Deborah Meaden told them
no-one would ever use it.

I think what most people think
is, "I fancy a Chinese tonight,"

or, "I fancy an Indian tonight."

I don't think you go on
to a website and think,

"What do I want to eat tonight?"

I just don't think that's
people's thought processes.

So I'm out.

Peter Jones and Theo Paphitis
couldn't see a future

for the business either,

but James Caan actually
liked the concept.

I actually do like the concept.

Thank you.

And Duncan Bannatyne had
spotted an opportunity too.

I can see this business
having possibly a potential.

James and Duncan split the
bill for dinner

and invested £100,000 between them.

We'd like to accept your offers.
Excellent.

And Deborah, Peter and Theo
were forced to eat humble pie when,

a little over a decade later,

Just Eat bought out Hungry House
for a reported £240 million.

Talk about food for thought, eh,
Dragons?

Next up, one of the most successful
products ever to grace the Den.

Since appearing before the Dragons,

this entrepreneur has shifted
more than 60 million units.

Let's watch this one from the start.

Talk to me, Evan.

Shaun Pulfrey from South London
is first to face the Dragons.

He's asking for £80,000.

Hello, my name is Shaun P
and I'm here with my business,

Tangle Teezer Ltd,

which has sole intellectual
properties for my product,

the Tangle Teezer.

I'm looking for an
£80,000 investment

for a 15% stake in my business.

Tangled, knotted hair
drives hairdressers insane,

women crazy and children
reduced to tears.

The Tangle Teezer's
uniquely designed teeth

will gently...

..effortlessly glide
through the hair,

removing knots and
tangles on contact,

virtually eliminating
hair damage and breakage

that is caused and associated
with conventional tools

on the market today.

HE GRUNTS

And...

..forget them. Now...

..there is two markets for
Tangle Teezer.

One is consumer and
one is the trade.

I will be taking Tangle Teezer
to the trade.

Already it has received
two nominations

for finalist competitions
for innovation

within the trade itself.

And, finally, not only do I stand
here for investment today,

I am also looking for a Dragon
that can help me take this product

to a global consumer market.

Thank you.

It's a flamboyant pitch from
London hair colourist Shaun Pulfrey,

who needs £80,000 to launch
his Tangle Teezer invention,

designed to make light work
of knotted hair.

Now, James Caan is keen to find out
what makes the brush different

from any other already
on the market.

Hi, I'm James, James Caan.

Shaun, what is it that's
so unique about this product?

What is it that makes it untangle?

OK. The product itself
is actually in the teeth.

The teeth has been designed
in this like three-tier system,

so when they actually touch into the
hair, rather than obviously

in the conventional way
which causes friction,

the teeth are designed
to collapse and spring back.

Shaun, you're obviously
a hairdresser.

Hair colourist, yep. Hair colourist.
Yes. What's the difference?

I specifically divide just
on colouring hair itself.

I don't blow dry, cut or style.
I just colour. You just colour.

Hi, Deborah. Sorry. Sorry,
can we just go back on that...?

Oh, I'm sorry. You just colour,
like her hair?

Well, I colour, yes,
like Deborah's highlights...

You clearly don't, because this
hasn't had any colour on this.

Oh. Well, I beg your pardon,
it's one beautiful colour.

Well, there you go. Shaun...
Wonderful. What a beautiful colour.

Go back to my question,
my question was about you, Shaun.

Right, so you colour hair. Yeah.

And when did you invent this,
come up with this idea?

This one... About 15 years ago,
I used to have...

15? No, about 15 years ago,

I had a particular client
with very long hair. Yeah.

And I've come to the realisation
that, actually,

if you actually hit the hair itself,

it would naturally untangle itself,

it has a natural ability
to untangle.

So three years ago,
I embarked on the project

to make this more sophisticated.

And this is what the teeth
are designed to do.

All they're designed to do
is pass over the hair itself

and cause like a vibration

so that actually helps
to naturally detangle.

Shaun might have put his foot
in it with Deborah Meaden,

but he's holding his ground.

Theo Paphitis wants to know
how well his idea is protected.

Shaun, have you got
the patent on this?

As far as the patent goes,

recently, I received information
back from my patent lawyer

there'd been some citations
made against it,

but no citations had been
made against the teeth.

Erm, what's the difference
between...

..this and the horse grooming tools
that are used

with sort of collapse...?

Well, it looks exactly like that,
actually.

So I'm just interested how you think
you can get protection on something

that I think I've got
in my stables at home.

From what I received back
from my patent lawyer

was that the actual design of
my teeth, there'd been no citation.

The one you may have back in your
stables may flex and feel like...

I think you're missing the point,
Shaun. OK.

You see, I don't care how this
is designed. OK, mm-hm.

I don't care how yours is designed.

I don't care how the one back
in my stables is designed.

All I care is that it does its job.
OK.

So if there is already a
product out there

that's doing exactly the same
as yours, albeit for horses,

but it would be very easy to say,

"Well, let's make a smaller one
and sell them." OK.

I don't know, I've never seen
the one for horses.

But all I can turn around and say
that is I shall certainly

look at that one for horses
and see if it functions

and performs like mine.

Shaun suddenly sounding
less confident

under the scrutiny of keen
equestrian Deborah Meaden.

He needs to get his pitch
back on track quickly.

Shaun, how many of these have you
put into the market for testing?

There must be about 300,
350 floating around over...

And how many, how much...?

What's the stats and the feedback?
How many people?

Feedback that I've had from that,
er... How many people?

I would say up to, well,
just recently collecting at 20.

I had never actually gone
any further with that feedback

because for the simple reason
I have not had the product

to actually sell.

And that's why there's never been...

Why didn't you sell some of the
300 instead of giving them away?

Cos I was more interested
in getting the feedback

from the people themselves
actually using them.

But you haven't got the feedback,
you just told Peter

you had 20 feedback out of 300.

Why didn't you give them away
and say, "OK, I want feedback

"within two weeks"?

That...that is the feedback
that I've just recently chased up.

That isn't... Shaun, from just
listening to your answers,

you know, I think, you know,
working with you,

you'd have me pull my hair out.

It's not a business, Shaun.

It's not a business that would make
any money.

And, er, you know, well, I'm out.

Shaun's lost his first Dragon.

Will Peter Jones share the
concerns of his rival investor?

Shaun, this is really frustrating
because you can't give me

any indication that
your product is good.

You've just got a brush.

That's all it is.

I wish you the best of luck. OK.

But until you have research
that's backed up,

you can't get an investment
from somebody, least of all me.

Yeah, fine. So I'm not going to
declare myself out now.

Two Dragons out.

Now Shaun's fighting to save his
pitch.

Will Theo Paphitis throw him
the lifeline he desperately needs?

If you got £80,000 from
somebody here today,

what would you do with it?
What would I do with it?

Erm, I would use it, first of all,
for stock investment. Yeah.

I would also then use it to put
more full time into this,

for promotion. What does that mean?

I'd have to actually reduce
my work hours at work.

So how much of this 80,000
would you be...? 30.

30. So, 30 of it's going
to go to cover your costs.

And the rest of it in stock. Mm-hm.

How are we going to make money
out of this investment, then?

From initial sales going into the
wholesale, through the hairdressers

and from online. So, how many
would you have to sell?

In the first go?

Yeah. In the first run, 20,000.

And they'd have cost
you how much each?

What, to make? £1.25. And you're
going to sell them to trade.

Yes. How much? £5.50.

Have any of the wholesalers
given you an indication

that they will take this?

I haven't had the product to sell
so the answer to that has been no,

but I will be doing that... Whoa,
whoa, that's absolute rubbish.

Not having the product
to sell is irrelevant.

Actually knowing whether
they're going to take it,

you can then make the product.

But then I've actually... You're not
going to make the product and then

have 20,000 sitting in your
back bedroom

and them saying, "Actually, Shaun,
it's rubbish, mate."

Well... That's not clever, is it?

An angry Theo Paphitis
has lost patience with Shaun.

The Dragons never respond well
to entrepreneurs who want

an investment to stockpile products
before they've got firm orders,

and today is no exception.

You really had one job to do
today which was demonstrate

that this is a cracking product

and is THE product that
needs to go out there.

You haven't demonstrated that.

You talk about your patent
protection -

even if you did get a patent,
the patent will be meaningless

because there are other products
out there that might be

slightly different in their design,
but they actually do the job

and if they see this out there,
"Ooh, that's a good idea,

"we'll do it in our market."

So I'm sorry, I'm out. Shaun,
can I tell you where I am?

Erm, I think you haven't
really thought this through

very carefully at all.

You haven't really got
a qualified patent yet.

I think, so from my perspective,

I think this is a waste of time.

So I'm out.

The Dragons' confidence in Shaun's
business acumen is slipping away.

All that now lies between him
and expulsion from the Den

is Theo Paphitis.

You're going about this all wrong.

You've failed dismally to
actually do the basic things.

If you'd come in and said,
"I've spoken to three distributors,

"they'll all take it.
They know the industry.

"They know the salons."

Done. Done deal. You didn't do it.
OK.

And for those reasons,
I, too, am out.

Well, Theo, I thank you.

And that's exactly what I'm going
to do when I leave here.

Do it. Thank you. I will do.

Fantastic, Shaun.
Thank you very much indeed. OK.

Shaun is leaving the Den
with his resolve intact,

but with any dreams of
investment in tatters.

Do you know what that is?

It's a HAIR-brained idea.

JOE: Well, that was an action-packed
skip down memory lane, wasn't it?

What a lot of determined
entrepreneurs.

From the poker-faced...

You're looking for an answer? Yeah.
No.

..to those with plenty
of barefaced cheek.

Tej, I'm going to decline your
offer. Oh...

Oh, that's a shame you did that.

And we've also seen an app inventor

with one of the greatest departing
lines ever seen on Dragons' Den.

Thank you for taking the time
to almost listen to me today.

It just shows there's more than one
way of fighting back in the Den.

Next time...

Hello, Dragons!

ALL: Let's raise the roof!

..the tide turns...

..as the entrepreneurs go all out...

# And give me some reggae,
reggae sauce... #

..to woo a Dragon.

I've got a special something
for the ladies.

Ee bah gum, I love you.

Thar not so bad thi sen.

It's irresistible,
just like yours truly.

I love you,

and I really want to make
this work with you. Sorry!

# Go on, now, go

# Walk out that door! #