Tech 21's Apple Manufacturing Deal Has Dragons Fighting For Equity | Dragons’ Den 

I guess hes doing something right

Same

Lmao

Lol

They're actually one of the best phone cases I've had

Well done Sherlock

that’s good to hear

not very good at your research or can't read accounts thats not even close to being accurate sole director part is

Any links?

net asset 1m pounds. Liability 49m

That’s business.

That's business, as someone else has pointed out. They're not there to run charity. They're there to make money.

He didn’t end up taking the deal, he’s doing well for him self now though

Good for him he didn't take the deal. And yes, I understand it's business. I just don't understand why the Dragons get pissed when an entrepreneur comes with a valuation they consider condescending.

@@crimsonorbit2341 i tried to find a source on him not taking the deal and couldn't. You wouldn't have a link by chance?

LOL

I'm actually one of possibly the only 20 humans existing that have never willingly brought a product from apple. Phew

@@leslietalley146 No you don't, lol. It's a marketing brainwashing machine. Just the new kid's toy. He didn't even invent the smartphone, IBM did. HTC invented the most user friendly UI, Android. And Samsung offer an all-round far superior product with their Galaxy line. Apple is all a fake and scam to drive one ego's business and create a branding cult, it's obvious. And he's done well in creating his army of zombies, I have to admit. But then again, so did Lady Gaga and 50cent

@@leslietalley146 Well it's a moot technicality now to call a difference between 20 megapixel cameras lol. Going by experience, build quality, user interface etc, I've always preferred Samsung and well, I can't be that wrong in my own little personal business decision right there, can I lol

@@netweed09 your opinions like a broken calculator...it doesn't count :) good day

Are you sure ?

Hope you’re right, pair of robbers. 20% total is more Reasonable for the full 150 but 20 for half? Utter bandits

It is not rare to see how bad they are at predicting future value of companies.

Peter can be a dick at times lol

Damn

I use them too. they are great indeed!

Fortunya salad

i've got more ketchup to bring when youre out

He didn't take the deal after the show search it up

Yep, had no real intention there as did not make business sense. The DD deal didnt go through. Upon leveraging publicity from DD he would easily get an investor offering $$ for less equity. Thats likely exactly what happened. The product spoke for itself as well as lucrative contracts in the pipeline. Fair play to him, he knew the value of his business and had a strategy.

Then you would be pleased to know that the deal didn't go through.

That’s why negotiations exist. They want the best for themselves, the businessman wants the best for himself. The dude could have continued negotiating and answered diferently

He made the mistake of revealing without an investment of at least 100,000 the business would be unable to secure sole rights for the product their future contracts relied on. That immediately puts them in the position of being able to ask for a ridiculous equity share because they know he had very little choice.

@@mccall7122 it didnt? i cant find online news about it. can you give us the source?

@@mccall7122 it didnt? i cant find online news about it. can you give us the source?

You're absolutely right. Deborah's offer essentially set the market. He could take Peter or Peter and Theo for their advantageous position in quick introductions. Or he could take Deborah's offer to retain a little more equity if he figured he could push the product himself or get a longer runway for support. Deborah's play almost required her to go a little lower to be competitive. She didn't really discount her investment enough to be tempting, but she did come in close enough to Peter's bid that Peter didn't have to go down at all. (Ie: Deborah's put a value of this amount, slightly below mine knowing that I'm better positioned to help you. If her value without being able to bring what I bring is that amount, I can't go down to that amount. I bring more, as she's admitted.) This under-cutting would have worked if the business was considerably more lucrative and already had a stronger balance sheet. If the entrepreneur felt that he had a product that was so intuitive that Peter (and Theo) would have been 'nice to have' but not 'needed' then Deborah's bid would make more sense. The undercutting at that point is considerable to the entrepreneur because they're so sure that even if it takes a little longer, they'll still get numbers similar to what they could have with Peter in.

Never let Deborah Meaden hear you call her Debs ... She HATES it! lol

Links?

Charity! I haven't recieved any money!

He's currently under investigation by US Authorities for money laundering

@@Stinky_Suzie Is that true Wendy? Wow..

@@marceltavares9 Always someone reporting to bring someone else down

He didn't take the deal after the show because he realised that, and it's now a very successful business. They make very good cases, I have 3 of them.

Yeah I was thinking the same thing, I like dragons den cuz I like a lot of the dragons, but they almost always seem way less willing to negotiate than on shark tank. I feel like all too often when the entrepreneur asks to talk them down the dragons tell them it’s not moving and I hate that cuz it makes it rather common for deals to not happen or the inventors to get ripped off

Exactly, those deals were made such that they value the company at less than just one of his deals worth 875,000, most ridiculous low-ball ever.

He now owns the whole company

@@JonasHamill i couldn't find anything about that on google, do you have a link? His nurvv product sounds pretty cool tho

I've had a couple of their cases, they're extremely good. I switched to Scooch because of the little kickstand gadget, still, I have nothing but fond memories of my Tech21 cases. Glad he made it big!

@@derekm3180 Mrs and I now both have Tech21 cases on our 13s. Great cases, seem to interfere with quality of calls on speakerphone. Other than that, all good

Yeah remember this is free promo, he knows his product is good and coming on to the show regardless of an offer, is a win

What do you mean? Was there a story about him rejecting the deal afterwards?

I work in Twickenham and spoke to him in a pub. The investment includes solicitor fees etc. So they turned it down and went on their own.

@@reka999 really? If it's true then that's surely a nice decision

LoL

@Con Scortis 😂😂😂😂😂

Great business idea, I'd buy 7 right now

That’s genius

So many naughty things to say 😂😂😂

PJ: "But you don't supply Jessops!"

well for one he can probably get a better deal, or you think apple are just taking it off him for whatever he wants? also there's more contracts to be won. also go check out recent statements.

You do realise that this was recorded in 2008/2009. Apple was only getting big then!

Funny how you seem to be the only other person who noticed this point. Also no mention of Apple. Fight!?! They spoke and he agreed.

Pretty sure a contract will be drawn up pretty quickly to stop this happening. However, those that don't get a dragon just might

Apparently he's bought that 40% back from Theo and Peter a long time ago..he's doing extremely well with this business.

he probs bought back equity by now

This is DRAGONS DEN (kick=

Mo byle phones ?

He probably desperately needed the capital in the short term to secure all the lucrative contracts he had arranged, and planned to buy back the equity at a later date

Yep. Thought the same

Yeah that was super weird. Especially as he kept just saying a "computer manufacturer". You'd think one of the dragons wouldve said "which one?"

@@beantreats Companies make you sign NDA before offering contracts. He's under legal obligation to not say the company name. There are loopholes around it, like some people would say "it keeps the doctor away" for instance instead of saying Apple directly.

its White labeled to Apple under their brand label

+ 1 for @gray

Nothing close to otterboxes though

Revenue was 121 million in 2017 with 9 million in profit. Surely the biggest company to appear on here

😮

How much did they sell their stakes for?

@@gamewithadam7235 for £10 and a bag of crisps.

@@Mogamishu But with that £10 you could have more bags of crisps!!! Bad business move on their part.

Bet the deal didn't go through. No way any entrepreneur would accept that unless there is more that happened that they didn't show us

@@logitech2010100 be interesting to find out. I’m surprised he went for it considering he was only offering 5%

@@logitech2010100 I’ve just been googling it. He said he was being interviewed and questioned by the dragons for a total of 3 hours 45 minutes, and he would’ve agreed to including his mother in the deal by the end of it! The deal went ahead then 18 months later Peter and Theo sold their stake and Tech 21 is now worth about 22 million and award winning so fair play to him then!

@@traceyoshea2235 ah ok fair playm I guess it's like theyvakways say. Better to have a small percentage of millions than a big percentage of nothing. Id love to know what their yearly profit is. Sounds like he is killing it although interesting that Peter and theo got out so quickly.

@@logitech2010100 definitely killing it. I might even buy some of the phone cases myself! I wonder if P and T were just happy with the return they’d get if they sold at that point and just let him get on with it?, I’m not sure. I’ve tried to find out some info on it but can’t see anything

Can D30 material be Used for different businesses

@@tuilleri Google is a mad thing.

@@realisto7967 what

@@tuilleri he's saying why don't you Google the info you're looking for.

@@suitedjames no

Would have, not would of!

idk, lets ask the editor

lol business is business its nothing personal

That's not a "smile" at least not the "congratulations" type. That is the face of a woman who is just lost, inside she is hurt and dying.

Duper’s delight

I hate their clickbaits

Dee Three Ohh you know =)

P00r Peter foiled

What do you mean by that

Best job in the world

Sometimes I want ice cream

It's Better =)

wow. just wow. amazing number work there.

*in my bag. I don’t remember watching this 5 months ago, let alone leaving a comment. 😂😂😂😂

Because greed doesn't pay. He's doing extremely well now. Certainly better off than dabbling in the dark arts of delusional emoji pumping

60% of a fortune is better than 95% of nothing.

He declined the offer after the show tho ; Idk maybe he didn't want to decline in front of the camera, this was dumb clearly it was worth more than that

They've gone in together many times over the show. The impression is that they work very well together and are always happy to do so

@@scottwallbank4794 Makes sense considering they are probably the 2 best Dragons.

He did didn't he 😀

Him and his children’s inheritance

I'm addicted to the comments... And the Jenny jokes I know... Sad.

Thought it's only me xD

@@RockyDave what's the best Jenny joke so far?

@@plantrage8961 Jenny.

Your telling me!!

Hes bought the equity back

He did buy equity back and his company is worth millions roughly 60 million

@@setokaiba2497 The deal didn't go through in the first place it seems.

@@setokaiba2497 That guy looks so dumb now m8, lol. Why do people think they're all mini-me Peter's in the comments?? So foolish 😂

I’d smoke with Deborah any day lol

No he doesn't. Do you know his contacts and value? Would you in that classy entrepreneurs shoes rather have walked away being too full of himself in the fact of established Success? Easy to sharpen your sword over a keyboard

Yeah that's what I thought when watching it, he accepted too soon. Could've taken his time as this pitch wasn't put under much pressure compared to majority others!

I think he bent himself over a barrel as soon as they knew he needed that much to secure the rights to that material, gave them all the leverage.

@@deaz3478 well you would have thought that since you own both these accounts.

What makes you think it was Apple?

@@Locutus lmao, don’t you literally see the title?

@@Locutus A small thing called the title of the video

@@mrm5183 Ok

Click bait name dropping then edited out, it’s clear they knew the company from the shown contract but knowing apples legal beavers they were probably told not to divulge (note also no cost and selling prices were mentioned)

im a tech

@@hurdur6828 I’m a Portuguese

It's copyright; the name was not allowed to be disclosed. Anyway, they're rubbish lol ,) He's since had a deal with the real deal: Samsung with their Galaxy products. He's made £50mn at least so far!!

I doubt they would've agreed for 10% each, probably 15% and he'd have given away 45% instead of 40%. otherwise, not a bad idea

@@jacobpeters5458 not going to give away 45 is he

@@JayBoy26HD well instead of 40, lol, i dont think

He understood that after the episode was filmed, and pulled the plug.

He said no to them after the show. Good for him.

@@hamza361 really? good for him to be honest....

@@PATRYK-R1 no not really, the deal go through but he bye back there equity 18 months letter.

@@psychopeoples4384 so it is good for him anyway. 40% is way too much...

@@psychopeoples4384 for how much?

Yes I agree! Considering that he literally had a deal with Apple JUST BEFORE Apple went GLOBAL. (Think about when this was filmed)

They both sold their stake in the company 18 months later, however the company is still doing quite well.

Totally agree, sometimes they get people without track record or even sales for products and offer better deals, he’s got actual sales and confirmed orders and good margin but want 40% that’s crazy.

This guy totally deserved a better offer I agree he's better than 70% of the entrepreneurs who come into the den and got an offer which completely crushed his company's valuation he deserved to be treated much better

Exactly. But it is entrepreneur's fault. If he had watched some previous episodes, he would have known that Peter would certainly go down to 15% when he spoke like that. Theo would follow him.

I couldn't agree more

most comments are from poor people who are jealous of the dragons' success

In that case, I wonder why you read them ...and write them.

@@RockyDave I write comments to express my opinion - have you a problem with that?

Don't worry, it's mostly old people who gonna be dead in 20 years.