Tech 21's Apple Manufacturing Deal Has Dragons Fighting For Equity | Dragons’ Den
Vložit
- čas přidán 22. 10. 2020
- Jason Roberts gives a fluent pitch for his protection solutions for laptops and mobiles, pointing out that their USP is a hard-wearing fabric, D3O. He's seeking an investment of £150k in return for a 5% equity stake but with 37.5k units on order each month, which Dragon will sway this lucrative investment?
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 #Apple - Zábava
I was like I swear I've heard of that brand, then I looked at my phone in a tech 21 case XD
I guess hes doing something right
Same
Lmao
Lol
They're actually one of the best phone cases I've had
Well I’ve just done some financial research and the guys now got assets of £50m and is the only director now of the business. Guy did amazing!
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
It's quite funny hearing Peter Jones say he can bring a lot to the party when the guy already had a contract with apple
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
The guy didn't take the deal after the show. Good for him!
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
This is the worst I've seen of the Dragons, especially Peter Jones. Yes, he's brilliant and effective but he sure was outrightly greedy here and simply fleeced the guy because he noticed that he was there for the taking. Thoroughly disappointed.
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?
“It’s not worth £3m” … now he’s valued at £50m 🤣 love it
It is not rare to see how bad they are at predicting future value of companies.
Peter can be a dick at times lol
That guy had to be playing dumb for some reason… you don’t get a 37.5k unit per month order from Apple just to turn around and give half the business away for some magic beans…
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.
I’m watching this on my phone with a Tech21 case and I didn’t even realise
JENNY: "I'll tell you where I am. I'm eating sachets of ketchup behind Feltham Travelodge."
i've got more ketchup to bring when youre out
I would have never accepted a deal that brings my company valuation down from £3m to £375k and offering 35% more of my business than I was hoping for , this is insane. It’s becoming clear to me that those dragons game is to burst businesses valuations and securing more equity for less money. This is unfair valuation for a company that is making £170k net profit in year 1 and has secured a regular contract worth $850k with a major company like Apple. I would have took that hammer on their cash.
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?
He's done very well. His company is worth millions. He also gives a lot to charity so deserves his success!
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
I’ve used many Tech 21 cases over the years, didn’t realise they were ever on the Den! they are a great product 😊
I use them too. they are great indeed!
Fortunya salad
I work for a big retail chain in sweden, we just got their mobile cases 😂👌
Damn
Debs offering 15%, solidified Peter’s position and made it harder to haggle him down. If she’d offered 10%, moving Peter to 15% I think would’ve been possible.
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
Completely misleading title. They weren't even fighting for the deal and were quite contented letting it pass.
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.
Theo's reaction..."sorry" I nearly wet myself
Feel like the ripped him off to be honest feel bad for the guy.
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
If he's got an order for $800, plus other sales, a $3 million valuation is not "crazy"
WTF! He accepted less than last year's profits for 40% of his company? That is MADNESSSSSSSS.
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
Theo: Ive been sat here... admiring your laptop cases... of which I sell many thousands... per YEAR.
lol, this is 5 minutes after the guy disclosed an Apple order for 37000 laptop cases a MONTH.
Got the patents, got the orders, just go to the bank for £150k.
Does not need a dragon and the 40% take is an outrageous ask.
Pleased to read the deal didn’t go through following due-dil and the chap is flying.
My new iPhone13Pro is getting a Tech21 case on arrival shortly.
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
I've got D30 built into my speedos to protect the family jewels. Great stuff!
LoL
@Con Scortis 😂😂😂😂😂
Great business idea, I'd buy 7 right now
That’s genius
So many naughty things to say 😂😂😂
3:14 The Tech21 Boss himself no less, when asked that question you were asked at your 1st Office Junior position interview for barely edging past a 4 figure salary: begins to describe his wonderful wife and children 😂
I work for “a computer manufacturer” and I always recommend Tech21 cases, really solid brand. I hope it’s true that the guy didn’t take that terrible deal.
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
With all due respect to Peter Jones's offer, you have already got yourself the biggest contact there is when the world's most valuable company, most valuable tech company and, obviously, the single owner of the only company that supplies and manufactures products that run iOS and macOS, which collectively own 20-25% of the world's operating system market share, has your brand slapped to a portion of their cases shipped throughout the entire world
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!
I noticed there wasn't a mention of which computer manufacturer he had a deal with (title says Apple), I was expecting Deborah to reveal it upon reading the contract.
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
I know Tech-21 stuff very well- its amazing . the covers are really amazing that material is crazy it gets hard as soon as it hits impact then immediately softens to distribute the force - my Samsung Note 9 has been inside it and ive dropped it a lot of times but the phone has never been damaged ever.....
That company is going places
i liked this guy. Smart, poised, respectful to the dragons. thought he came across well and i’d invest in both him and his product, if i was one of the dragons. Glad he eventually made a success of his company 🙌🏻
Tech21 is now a huge company with sales over $20 million. Peter and Theo sold their stake in the company 18 months after investing.
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.
Odds are another angel investor would see this episode and hit him up offering him a MUCH better deal. It happens a lot but we never hear about this.
Pretty sure a contract will be drawn up pretty quickly to stop this happening. However, those that don't get a dragon just might
When I was in cell sales these were some of our better selling cases because they were $10 less than OtterBox Commuter and Symmetry cases, slightly more streamlined and very protective. Only thing some customers didn't like was we didn't have many colors (black or clear) and the clear would yellow pretty quickly but their customer support would almost always ship people a new one when that happened.
I thought the dragons were greedy there. The guy has the product, the previous sales, the future orders secured (which lit the dragons eyes up) and he only needed 100k to get the exclusive rights to use the material and he gave away 40% for that!! I feel like he got fleeced a bit
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
D30 is used in motorbike safety equipment and it does truly work
Love Tech 21 - have my third case now and never broken an iPhone
I've always been sceptical of the suited and booted entrepreneur types on this show, but he seems to just know his stuff, what a guy!
Why do entrepreneurs wait until 2/3 dragons say "I'm out", then disclose they have big orders to justify the valuation!?? 🤔
idk, lets ask the editor
I used Tech21 mobile covers multiple times and apart from bit bulkier they are absolutely amazing products
Nothing close to otterboxes though
Tech 21 is a great brand for cases. Saved my phone a number of times.
40% was a little too much I think 12.5% split would of been a little more respectable.
Would have, not would of!
I purchased their unit for my mobile phone years ago and it has saved my screen on numerous occasions. Brilliant product.
I love how Debras face lights up when someone brings a contract or a patent for her to scrutinise
I actually own a baseball sized amount of the raw D3O material. It’s quite incredible actually
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
I currently have their case on my phone for like 6 months and it looks like new and my phone haven’t broken.. great brand
I like how Deborah was smiling and happy he got a deal, even though he rejected her. I've seen Kelly being turned down and she had a face like a slapped arse.
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.
He should have said can I have all 3 of you for 10% each he would have saved 10% then going from 40 to 30. Yes? No?
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
When did he say he has a contract with Apple? He wanted these money big time to get the exclusivity and prepare stock for the Apple or whatever contract. Otherwise giving up 40% with such a contract would be madness. The dragons were on the spot to see this though in any case I think would be revealed in due diligence.
These programmes help you learn about the pitfalls in business.
What do you mean by that
I'm shocked he didn't at least negotiate down to 20 or 30%. I mean, an order for 800k+?
After the revelation that starts at 6:56 (and absolutely stuns Theo - which i find hilarious) Theo and Peter KNOW they are undervaluing the business (look at Theo’s grin later on and Peter trying to stay cool and not smile) when they make a greedy offer - after Pater get’s that ball rolling
Duper’s delight
After having my laptop on my bag for about five days, just for me to remove it and see that somehow my screen cracked, I would buy one of these. Should be cheaper than replacing a 15.6” glass touch screen.
*in my bag.
I don’t remember watching this 5 months ago, let alone leaving a comment. 😂😂😂😂
Weird seeing a brand as well established as this on dragon’s den
I work for T-Mobile in the US and this guys products are in EVERY STORE. one of the best selling phone cases in the market.
Brought from Tech 21 in the past, excellent mobile cases!! 👍👍👍
I've had one of their phone cases since 2017 and it is still in pristine condition.
Why didn't he tell Peter and Theo to do one? Literally.
He has just said that he has orders of 37.5k per month, at a valuation of £850k... Even at 10%, after tax and expenses you'd make the money back with interest in 3-6 months.
That off of 20% for half the money is extremely insulting.
wow. just wow. amazing number work there.
Rory is a humble Seaweed hunter🙏 #TeamRory
Best job in the world
Sometimes I want ice cream
He didn’t take the deal after the show. Goes to show if people (in this case Peter) pushes someone so far past their asking point, then they’ll end up getting nothing anyway.
P00r Peter foiled
Just realised my iPhone is in a Tech21 case ! It’s terrific
"Has Dragons Fighting For Equity" ??? 2 Dragons out and the other 3 did not exactly fight it out, did they? Glad he did so well out of it in the end as I am sure i read a comment which said he has made 50m.
I hate their clickbaits
Has anyone else noticed that if Peter likes it and says good things and possibly makes an offer Deborah will then look interested and make an offer?
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.
Debs shot herself in the foot on that one
Tec 21 stuff is absolutely class really nice stuff well made
Dee Three Ohh you know =)
He offered 5% , and left with 60% and Peter asks him how do you feel!
This was daylight robbery, he deserved a much better deal. One of the most developed businesses that have come into the den. Definitely worth more than 375K.
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 really like the guy, seems very humble and reasonable. Glad his business was a success.
40% when he only wanted to give away 5%?! 😂😂😂😂😂😂😂😂😂
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
Never saw an apple but i did see a ball of orange.
It's Better =)
I'd love Theo to make a permanent comeback. He was good for the show.
He did didn't he 😀
Him and his children’s inheritance
When I used to work at Apple Tech 21 were such a good brand for phone cases etc. I used to throw my own phone onto the floor to show customers how much confidence I had in the product 😆
I had a tech21 phone cover for my old galaxy s6 a few years ago, no idea he was on dragons den pitching them, it was a great cover I dropped that phone numerous times over the years and there was no damage on it ever.
I'm addicted to dragons den 😜
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!!
Jeff bezos: I'm offering 20 percent of Amazon for 10 pounds
Jenny: I forgot to charge my phone so I'm out
That was a rubbish deal, atleast ask for equity buy back. Ffs
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 😂
Just turned my phone around and there I see Tech 21 branded on my case 🤷♂️
Recognised the brand before he even started talking, this guy's saved my phone countless times.
I love how quiet this guy Is .. makes me want to pack up and move to England
3:01 Deborah's stoned again
I’d smoke with Deborah any day lol
when you see the smiles on Theo and Peters faces at the end you realise they are hungry but they love the thrill of the chase as well
He doesn’t actually need a dragon he is doing pretty good on his own he just needs probably a sleeping investor who can shed 150k for 5 percent which obviously dragon’s won’t
I have one of these cases on my Nokia 101
I recognised D30 and actually thought would jump at the opportunity as he had exclusivity for tech...
Theo looks like he’s gonna headbutt this guy during the pitch. “You muggin’ me off!?”
Peter Jones’s value is ZERO to Tech21 lmao
im a tech
@@hurdur6828 I’m a Portuguese
Dragons Den can you insert in description when the episode was first show please
I have a Tech21 phone case for my IPhone. Brilliant piece of kit.
I have always used Tech21 products. They are brilliant, genuinely.
THAT was FIGHTING?????
Wow - some people just haven't lived ha ha.
This has been on CZcams for decades. My lunch time plans have been ruined.
Exactly 😔
Haha me too, ive just pushed back my work for another hour ;-)
Calm down asif 🙄
!!!
I know, Asif. I was twiddling my thumbs at 4:00.
They both seemed down to negotiate considering the potential they've seen in the product with the impressive numbers and knowing the amount of value they can add to make the growth happen. I think the entrepreneur should've thought about it for a little longer at the least and maybe gave away 35% of his business leaving each dragon with 17.5%.
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.
Wow didn't expect for him to give 40%
The James Caan years really were the peak of dragons
When I read the comments on here, I fear for the future of humanity.
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.
Uploaded around lunchtime. This channel know what they're doing.
Just to say....anytime someone uploads. Someone in this world has lunch time.
As I sit here with a tech 21 case in Australia
They are in every phone shop
came for 5% give away 40... takes the piss peter jones man
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
Dragons Den PR team think that their protected ip is a courier service. USP not UPS
Sincere, genuine and a good human! when asked can you tell me about yourself? I(n a tense business pitch)
he gives his personal information.
Wish him and the family well and his business success
I honestly cannot believe for once that someone can back up their numbers with a great product and then goes and gives 40% of their business away 😭 so painful to watch
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?
Wow this guy sold 78 million pounds worth of kit last year
Literally just bought a case from Tech21 for my iPhone 13 pro. Great Price and Extraordinary protection!