Technology Entrepreneur Thinks His Company's Worth £63M | Dragons' Den

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First Light Solutions is a technology company within the leisure marine industry to help prevent 'man overboard' situations with sonar technology and alarms. Matt Hazel is seeking an investment of £100,000 in exchange for 5% of his company. His competitors are supposedly making £63M from a very similar technology, but will he have the same kind of success?
Season 3, Episode 3
An international sensation, Dragon's Den features entrepreneurs pitching for investment in the Den from our Dragons, five venture capitalists willing to invest their own money in exchange for equity.
#DragonsDen #BusinessPitch #RichardFarleigh

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14 май 2023

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Комментарии : 484

@jimmorrison8203 Год назад

Misleading and unfair title. He originally valued his company at £2M overall. He reduced that overall valuation to £0.33M. He said another company with a similar product was valued at £63M. Sort it out Dragon’s Den, there’s really no need for misrepresenting in this way.

@supershinigami1 4 месяца назад

Click bait obviously

@jimmylittle9393 3 месяца назад

Welcome to RU-vid

@ShayCat 8 месяцев назад

I love how Richard didn’t feel insulted at all when the guy didn’t know him. He was totally respectful and humbly told him who he is and what he does :)

@LCRichardM 8 месяцев назад

Tbh, but its really a fail on the pitchers side. I mean, you should do your due diligence who are you pitching to.

@ShayCat 7 месяцев назад

@@LCRichardM for sure yeah. But looking back on Richard, class act

@WattzArtist 7 месяцев назад

@LCRichardM do they know what Dragons are going to be there on the day they pitch?

@anthosm 6 месяцев назад

@@WattzArtistyeah.. the dragons don't change midseason...

@anthosm 6 месяцев назад

I've seen loads of seasons and Richard is probably the classiest of them all. Kinda sad that they screwed him over and didn't bring him back... (he thought he was gonna be back for the new season and then they kicked him off)

@mavetyan Год назад

He doesn't think his company is worth £63M.

@Vrishab18 11 месяцев назад

Exactly

@HCPCYamaha 11 месяцев назад

£500,000

@Scratiznutz 11 месяцев назад

No, not £63 million. But, I can also see that somebody here doesn't understand how share investment works. £100k @5% equity representable is valued at £2Million. This will be profits and stock valuation at the current market share value. Equity value = Enterprise value minus debt. He has to prove there is a market there firstly.

@steveyi2859 11 месяцев назад

Maybe 63 pounds

@EZ-D-FIANT 10 месяцев назад

@@ScratiznutzThat's not how businesses are valued!

@flashtheoriginal Год назад

Richard Farleigh - one of my favourite Dragons. Straight, friendly, reasonable, intelligent, with a professional assurance

@karishmadas420 11 месяцев назад

Plus, he's so hot !

@antonydandrea 10 месяцев назад

Loan shark

@jackrutherford966 9 месяцев назад

His sexuality has nothing to do with this???

@kappsedits7167 9 месяцев назад

@@jackrutherford966 i think he meant straight forward

@jackrutherford966 9 месяцев назад

Needs to be more clear doesn’t he

@rhysnolan6080 8 месяцев назад

Farleigh was a class act. You can see the intelligence in his eyes. A shame they didn't keep him.

@royfr8136 5 месяцев назад

He was too reasonable and wasn't controlled by ego, unlike the others so he left

@arthurmorgan8529 Месяц назад

Peter Jones always picked on him. That's why he left

@cubonefan3 Месяц назад

Peter wishes he was Farleigh

@DAGATHire Месяц назад

@@arthurmorgan8529 Peter jones owns the IP of the entire program. Did you know that?

@smoothmicra Год назад

Richard Farleigh is 62 years old now. Life goes by in a flash people, cherish it.

@imrank9282 Год назад

Didn't think I'd come to a Dragons Den video to think about life, but damn, I will, thanks for the reminder 😊

@honor9lite1337 10 месяцев назад

Understood.

@kermitTheFrog466 7 месяцев назад

wasn't he 62 in this lol

@Gonken88 6 месяцев назад

You found that out by finding out Farleigh's age? Well good luck.

@jonathanbirch2022 4 месяца назад

Time passes in days, not years

@rickjamesb. Год назад

Richard was so fair and humble. Really a counter weight to the others. It's a shame he wasn't a part of DD for too long.

@simonjohnson9055 Год назад

He wanted to stay, but wasn't renewed. He subsequently said said he thought it was because they didn't want a white male, and he went back to Oz.

@hugoschkiglitz Год назад

His beef/rivalry with Peter was palpable, I would have liked to see him stay just to watch that

@967mviews2 Год назад

Couldn't agree more. One of my favourite Dragons ever. So different in many ways, left far too early!

@967mviews2 Год назад

@simonjohnson9055 🤔 Peter and Duncan are white and Theo is olive skinned. Find that strange he would make that kind of suggestion 🤔

@sheikhu1039 Год назад

@@967mviews2well with the way the popular stuff online are white hating I'm assuming he was referring to that, the show runners probably thought they'd blame the show for too many white people and not enough "diversity"

@4JJA14 Год назад

He did well keeping BOTH negotiations alive. Normally one dragon gets annoyed and declares out

@eat_a_dick_trudeau 7 месяцев назад

Especially Peter.

@jeffreyfalcon243 6 месяцев назад

Probably the best negotiating I’ve seen in DD.

@BigWes95 2 месяца назад

Richard just didn't get butthurt when he's clearly not the first choice investor

@razzledazzle84921 Месяц назад

Very skilful negotiation on both sides. And nice to see how grumpy Peter got when rebuffed.

@RighteousPursuitMinistries 11 месяцев назад

Richard was such a level headed and humble guy. Shame he wasn't in it longer.

@DannyEastes 9 месяцев назад

Right? It was cool to see him explain calmly who he was and what he does when Matt admitted he wasn't familiar with his history. I feel like any other Dragon would have been offended and kicked right off

@modelsteamers671 Год назад

He doesn't value his business at £63m, he gave 30% equity for £100k - he values his business at £330k.

@Retzii_ Год назад

He initially offered 5% for 100k so he valued his business at £2m. It was Richard/Peter who discounted it.

@modelsteamers671 Год назад

@@Retzii_ yes, he initially valued it at 2m and later revised his valuation at 330k to reflect the offers at the time.

@antonydandrea 10 месяцев назад

He compared his company to another that was worth that.

@amrvandenadel Год назад

Richard, you are just a legend! When he said "I don't need to discount myself against Peter" "I have assessed the business in a fair way" that was the big hit here! The only one who could break Peter's ego!

@scienceevolves4417 Год назад

And for that he was very quickly banished.😊 Kinda shows DD is partly owned by PJI.😂

@amrvandenadel Год назад

@@scienceevolves4417 I agree with you. I think sometimes Peter doesn't have morals or ethics and he would do anything to protect his fake image ..

@MisterPotter 10 месяцев назад

"I don't need to discount myself against Peter" ....*proceeds to discount himself against Peter LOL, if they were both at 30% he would have gone with Peter

@honor9lite1337 10 месяцев назад

@@scienceevolves4417what's PJI😮

@slimal1 7 месяцев назад

Dick measuring contest 😂

@lucybellehennessy8160 Год назад

Richard Farley is so humble. I can't help but think that if asked who they were, other dragons would roll their eyes or declare out.

@BLMeredith87 10 месяцев назад

Exactly what I was thinking definitely

@gridlo 9 месяцев назад

Agreed. They'd get all HOW DARE YOU??? "Do you homework!!" - Deborah, for sure

@B_Bodziak Год назад

*To whomever is involved in posting these clips:* Please, add the date the segment originally aired on TV ...even just the year would be nice!

@chaytiano6896 Год назад

No.

@chrislaw4189 Год назад

August 2006

@Asif-kh-n9r Год назад

To whoever cares, please Google it if it bothers you that much.

@xpwngasmxfan1995 Год назад

Just put it in the description even, you don't want people leaving your video to Google something

@HarmlessKiwi Год назад

Just look at the hair product used, from there it is quite easy to date

@kilotangosierra Год назад

i really enjoy seeing Peter getting owned by Richard in this early series. Richard had such a missing quality on Dragons Den

@Squoggs Год назад

One of the best dragons fr. I miss him

@hamza361 Год назад

So underrated. He is a very private person. Not much on him online since he left the den.

@amrvandenadel Год назад

@@hamza361 Because he is Scorpio LOL

@darryljones8369 Год назад

What is the missing quality?

@amrvandenadel Год назад

@@darryljones8369 The missing quality is that person who was not letting any influence from the arrogant Peter affect his decision. Peter is always talking he is a multi-millionaire and the most successful person forgetting to be humble to everyone and thinking he must be always at the center of attention ... This is the missing quality we are talking about.

@jakehay3074 Год назад

Bring Richard back. A seriously good Dragon.

@arnold8746 Год назад

Not bad for a Peter puffer.

@BDogs10 Год назад

One of the best Dragons. Very refreshing

@user-qf8ij7dn4h 8 месяцев назад

He doesn't need the show, it's a matter of I'd he wants to come back for fun

@markojokanovic349 Год назад

This title is extremely misleading. This was easily one of the most amusing negotiations. The chivalry at the end when they congratulate both of the men is very underrated.

@ianoliver7271 Год назад

The company dissolved in 2012 with a net worth of -£30,240.00 and liabilities of £10,240.00! Not a bright light!

@kjp1232 Год назад

Greed and a lack of common sense can do that.

@markheitz7963 Год назад

Cheers

@Zzyzzyzzs Год назад

@@kjp1232 Why would you jump to the conclusion that there was greed and a lack of common sense involved?

@TheDirtysouthfan 10 месяцев назад

How do you have a net worth of -30k and 10k in liabilities? Unless I’m forgetting something net worth is your assets minus liabilities. You’d have to have 0 in assets and 30k in liabilities at minimum to get that net worth.

@user-op9kq9vc2o 10 месяцев назад

@@kjp1232Or not the right product-market fit, maybe the product showed great potential but didn't manage to succeed in execution.

@matt5802 Год назад

I love how he kept saying to the dragons "you sit here in front of me" 😂

@jarvsonsecond4939 9 месяцев назад

asking to be part of my company xD

@FlareNationify Год назад

It's crazy to think how far technology has come since this was aired....

@Zauchi Год назад

17 years is quite a while.

@yblackburn6829 Год назад

What technology are they using at this moment?

@mikeh2006 Год назад

@yblackburn6829 the ships themselves have a system for detecting someone falling off

@bizy7133 Год назад

This isn't really old technology, can't think of any other way someone would get found even these days

@-elvis-3592 Год назад

It hasn't developed that much if you think what this was near 2007-8 technology hasn't developed that much since then just redefined things

@AdamBechtol Год назад

Dang Richard Farley kicking butt. :p First deal I've seen him get. Also, this was one of the most professional-sounding exchanges I've heard on the den.

@onyenu7404 Год назад

I enjoy his ability to hold on to the prospects and making them want his invention. He got a good deal with Richard.

@B_Bodziak Год назад

I found it insulting that he didn't do any research on Richard Farley. I've never seen any ask a dragon, "Who are you?" Wow

@ChicDead26 Год назад

Not that we know how much the participants were told about the dragons. Maybe they weren't even named - precisely so people wouldnt do any research beforehand. And yeah, its not how it rolls currently.

@MrTibbs12 Год назад

@@ChicDead26this was the third series..he didn’t do any research on who any of them were

@ChicDead26 Год назад

@@MrTibbs12 ah crap, thought it was the second. debra there shouldve been a given

@MrTibbs12 Год назад

@@ChicDead26 first season had rachel,the odious doug richard and simon woodroff..simon was switched for theo in the second..ive been watching dd since day one lol

@michaelwallden7261 Год назад

u missed a lot of programs because this have happened several times in the past

@EliaszPimpicki Год назад

richard seems like a chad, i literally been waiting for this episode since i watched it back in 2007 with family and dad r.i.p!!!

@youngma5296 Год назад

how did i miss these older pitches...i binged on these awhile back...😅

@XACMPL 11 месяцев назад

because it was uploaded after your binge, perhaps?

@youngma5296 11 месяцев назад

@@XACMPL probably yea 😅

@XACMPL 11 месяцев назад

stay safe@@youngma5296

@ddraigmafon4725 Год назад

Richard was a fantastic dragon, he left to the show’s detriment.

@myahiaoui Год назад

What would make that not work? Nothing! Me: Signal-to-noise ratio, signal interference, false returns, echoes, unintended object reflections, target orientation, limited sonar resolution & bandwidth for distinguishing multiple signals🤓

@Nick-gk6hj 14 дней назад

Battery life, water intrusion, etc

@CalumO94 Год назад

Old Dragon's Den was a no-nonsense show... Its a bit too flashy now.

@jonathanbirch2022 4 месяца назад

Agreed

@ianlister7333 Год назад

cant help but think, if this was filmed today, Richard would have said "you are here for Peter, so im out"

@Hutchyy Год назад

Nah cause he knew he would get it with the lower equity offer

@user-ff8sp3xl3c Год назад

He thinks his company is worth $2 million, not $68 million.

@jamesbooles5395 Год назад

Is that DOUG RICHARDS WITH HAIR???

@doctorsocrates4413 Год назад

Richard farley was the best ever dragon in the den...

@olimot8081 Год назад

Quite sure he thinks it’s worth £2M and then reduces that further

@JohnDoe-sk6wy Год назад

These are throwback videos when Theo, Duncan and Richard were still around lol.

@sheikhu1039 Год назад

I used to think the disaster episodes were fun to watch, but these types here hit different 🙌🏾

@Katie-hj5eb Год назад

I am disturbed by the fact that someone could have a patent that means no one else can develop sonar rescue systems.

@Lucy-nw4im 9 месяцев назад

Yeah same

@deerkaiser9983 8 месяцев назад

Patents more often than not halt progress and force people to find other less effective methods, basically you pay money to defend yourself from competition

@ryleypalmer 7 месяцев назад

Yeah but he’s not going to have the money to defend his copyright versus a massive company.

@BenjaminGoose 6 месяцев назад

Parent, not copyright.@@ryleypalmer

@neilshirley 8 месяцев назад

Richard at least makes it interesting and competitive and therefore much more interesting. Nowadays I get the feeling the dragons all work together to get the best deal for themselves!

@sadikmeah4057 Год назад

Richard was a great dragon and I miss him

@soulreaperichig0 Год назад

No he didn't think it was 63million

@RockyDave Год назад

You're right. He went in at 4 million and moved to 2 million before finally accepting a valuation of 1/3 million.

@abreathingcoffin8089 7 месяцев назад

he did an exceptional job at dissuading the problems with it. I think it's a valuable asset for any commercial oceanic experience.

@darryljones8369 Год назад

Well done Richard. This will save lives :)

@ianrae1546 Год назад

Bit of a misleading headline there. He didn’t once say that his company was worth £63M. He said that there was a similar company on Australia that was worth £63M.

@invertedname3099 Год назад

He’s a good looking dude. That look he has alone will get him far in business

@amodelchucrut 9 месяцев назад

"i'd like to welcome you on board" was, ironically, the best pun of them all :P

@wayneerichsen 5 месяцев назад

This would be more suitable for deckhands on fishing boats.

@free_gold4467 Год назад

Max Headroom gets the investment he wanted.

@anubusx Год назад

Jenny falls out of the boat and says: i'm out.

@Sam-qh1sh Год назад

😂🤣😂 that’s a blast from the past!! Totally forgot about Max

@dieseljester3466 Год назад

Dude needs to pitch this to the merchant marine and fishing industries. This would cut down on the number of fatalities every year from people falling overboard.

@jmharris251 Год назад

OMG, he cames on show w/out researching the Dragons.

@seanjosephhayes Год назад

Multiple tests done in multiple locations. Experts in the field: We believe this works. Duncan Bannatyne: I don't believe this works.

@MichaelWallden Год назад

I love when People think this is live....

@seanjosephhayes Год назад

@@MichaelWallden I never said it was live? And what’s that got to do with Duncan disagreeing with the experts anyway? 🤨

@sachinfulsunge9977 11 месяцев назад

There can be other reasons they dont want to invest, but they don't want to reveal the reasons so they make excuses

@user-qf8ij7dn4h 8 месяцев назад

He has no working model...

@unnamedchannel1237 6 месяцев назад

Ya but it’s the same guy that thinks an electric tooth brush has no battery

@hamza361 Год назад

Company failed in 2012 and looked like it had many years of losses before then.

@B_Bodziak Год назад

It sounds like it at least worked. He was too early pitching his "company" -- he should have waited until he had a fully tested and working model. He's still only pitching an idea. He should have taken the $100k for 30%.

@free_gold4467 Год назад

@@B_Bodziak he did.

@anubusx Год назад

It went under then.

@B_Bodziak Год назад

@@free_gold4467 After I read your reply, I actually had to go back and re-watch the last 3-4 minutes. I think I was so distracted from him asking Farley "Who are you?" that I didn't pay enough attention to what was happening after that! Lol. Thanks for responding and setting me straight!

@free_gold4467 Год назад

@@B_Bodziak You're welcome! :)

@FRANCESCA01234 Год назад

So funny how he was interrogating Richard 😂

@stevesalt9005 Год назад

Richard is a class act.

@thefonzkiss 4 месяца назад

Jeeze, this guy talks like a future dragon. Never seen such poise in the den.

@B_Bodziak Год назад

It's out of range after 3.5 seconds at 30 knots after someone hits the water seems like a HUGE issue. They should at least add a water-activated light to the lanyard like the lifejackets on airplanes have.

@sj-red Год назад

The problem it solves is losing someone overboard at some point during the trip without knowledge of this happening. The entrepreneur noted at 6:18, that the RNLI and the US Coast Guard agree that if you know the location someone entered the water you’re 95% more likely to find them - that’s massive. I believe it’s pretty objective that this product solves a significant part of the problem it attempts to solve.

@oneheadlight8000 Год назад

It pings the GPS location when it hits the water.. sonar is not the best tech for this.

@scienceevolves4417 Год назад

And add a whistle too! Always seems to work for me when we have a water landing in the middle of the Atlantic Ocean and there are huge stormy waves around 😅

@kjp1232 Год назад

That's what flares, radio and rescue helicopters are for 😂

@nukaghoula 6 месяцев назад

having something like that attached to people on scuba diving tourist tours would have already saved multiple lives in Australia

@longq5198 Год назад

Love seeing professionals talking and negotiating business deals.

@Arnold1nspiration 21 день назад

Richard was such an epic dragon. One of the better ones for sure.

@TheManInBlueFlames Год назад

Okay, but this device is GENIUS! Like, it could ACTUALLY SAVE LIVES!

@wlink639 Год назад

Didn't expect to see you here, they use better systems now.

@teamalpha8134 11 месяцев назад

Great Episode 🐺

@anubusx Год назад

"Just floated their company." lol.

@scienceevolves4417 Год назад

Was early days for Evan... He missed out on so many puns in this one😊

@anubusx Год назад

I sea what you mean.

@brucebaker810 Год назад

Me too.

@drpk6514 Год назад

Very professional

@socat9311 5 месяцев назад

A true bold entrepreneur would bring to the Den a device that transcribes Duncan's words

@poppyboiXCIX 2 месяца назад

I can transcribe for ya - Duncan : "Am ooaut"

@maxprivate3805 8 месяцев назад

A cheap RF proximity detector could signal the overboard and cheap GPS would give continual coordinates (antenna needs to be above water).

@solomonororiwho1305 Год назад

Wonderful

@Braketech9 9 месяцев назад

I agree with Theo.. I’ve just sat here and listened and listened and listended.

@sajti812 8 месяцев назад

One of the really enjoyable negotiations

@boozypixels 27 дней назад

Personal locator beacons have been around for decades, even when this was filmed GPS beacons that broadcasted it's location wirelessly in real-time existed. No underwater sonar required.

@gtmode6947 Год назад

New Dragons Den is like a parody of this.

@Hoopspur 10 месяцев назад

Peter lurking in the water like a Great White. Richard is Chief Brody.

@mikes252 Месяц назад

I always love how these sellers try to say there are other countries that have suppliers but theirs are unique like stuff can't be shipped worldwide in a few days or less.

@Rusmiester 8 месяцев назад

He was one of the best contestants to have ever been in the den

@ramonbmovies 10 месяцев назад

I can tell this episode is old. What year was it screened? The negotiation was very interesting.

@just_caitlin 8 месяцев назад

I can think of severally potential flaws, number 1 being would the clip not fall off on impact with the water? It's not held on very well from what I can see here.

@Noelhall88 Год назад

Well done

@muzzmurgatroyd Год назад

Did I miss the bit where he says his company is worth £63M? Maybe he thinks that, but he didn't say it.

@hudsonlee6140 5 месяцев назад

Absolutely the best pitch for the dragons.

@GameAGuy 10 месяцев назад

I wish Richard was there longer.

@Steve-td1wz 3 месяца назад

Always liked Richard by far the nicest humble dragon there ever was

@VanlifewithAlan Год назад

My maths must be a bit out. According to the title the entrepreneur thinks his company is worth GBP63m. He wants 100k for 5%, I don't think that makes GBP63m but maybe the rules have changed since I went to school. A pity the title writer did not watch the video, the 63m was for a rival company floated in Australia. And finally surely he should not have welcomed someone 'on board' but rather 'off board'!

@saintjimmy456 Год назад

Deborah wanted him to demonstrate a full working model before investing. Did she expect him to bring the sea into the den?

@user-yf4jh3bv9s Год назад

Well he said it would activate in a glass of water, so he should have been able to demonstrate in a fish tank

@kjp1232 Год назад

No she just wanted to sit back and laugh at idiots

@socawarrior1263 4 месяца назад

lmfao !!!!!!!!!!!!!! oh you made my night there with this one buddy !

@jamesgraham6122 6 месяцев назад

I've no idea just how much of this may have been edited out but found it strange that nobody asked for details on production costs and retail price, the retail price especially would affect the numbers sold... would each crew member be able to carry one while on board, or would the costs dictate that the boat had just one or two that would be carried by anyone alone on watch on deck ?

@adelezierler1547 Год назад

That was a quiet a negotiation indeed. It is never boring to watch these Dragons on the Dragons Den.

@valdirmassiala606 10 месяцев назад

Peter's competitiveness inspires me!

@dawsonje 10 месяцев назад

This is so much more wholesome than the US version

@Billy_B Год назад

Business went overboard in 2012

@IgnoreMyChan Год назад

But did they get an alarm or...? 😛

@scienceevolves4417 Год назад

I heard they had massive problems with cash flow?

@ianbaird1730 10 месяцев назад

Peter is the kiddie in any deal he offers on

@closetome Год назад

Farley and Jones are blatantly friends outside the show. Rory could use one of these sonar thingys?

@cuthwulf 10 месяцев назад

This is one of those cases where the inventory has a great product, he just doesn’t understand what its best use is. Forget random drinks falling off yachts. You sell these to the crab industry to track pots. Identifies each ships unique pots, gps of where they dropped them, and soar to pick em up quickly. Beats the crap out of buoys in stormy dark weather. Wolf make a fortune.

@PT-kk8dp Год назад

Dude looks like he could be Richard Farleigh's older brother, or the crazy soldier at the end of The Rock movie.

@TheManOfReason. Год назад

Hahaha

@peterd788 5 месяцев назад

Why not a self-inflating balloon with a red light and a siren?

@user-in8tw8zl7i 2 месяца назад

I feel like Peter was told to look disappointed, he couldn’t give two fuc*s

@DJcyberslash 7 месяцев назад

Fantastic idea

@hoads123 8 месяцев назад

Click bait title. This guy was actually very nice and respectful

@JoshuaSmith-yh8fq 2 месяца назад

Richard you’re the most respectful and kind person on the den ever

@bunnywarren 8 месяцев назад

The company never made money and was always in debt. It was dissolved in 2012 with debts of £30,240 on the last accounts provided.

@colmwhateveryoulike3240 Год назад

So Doug Richard came back to stand on the other side of the den eh?

@SpoodinOot 6 месяцев назад

Very cool idea

@marcusg6573 6 месяцев назад

Very well made pitch.

@emc59789 9 месяцев назад

You don’t need the clickbait title we’ll still watch it

@funkyironman69 8 месяцев назад

4:25 A glass of water won't work because sonar travels through water, with the massive air gap between that and the receiver the signal won't get back to it