What happened to the Dragons’ Den’s biggest flops?
There are a variety of reasons why pitches fail in the den, including nerves, lack of preparation, and botched figures, but does that mean they’re all doomed to fail?
The den has seen 17 Dragons invest over £4 million since its first episode in 2005, but what happens to those unlucky few who can’t stand the heat? Here are three of the worst pitches to ever reach the den, and the surprising position they find themselves in now.
During the second season of the show, entrepreneur and egg enthusiast James Seddon requested £75,000 for his new invention: a waterless egg cooker.
Everything went downhill minutes after he began his pitch when he attempted to demonstrate how his product could cook a boiled egg quickly and easily.
“You’ve got to recover quickly from this James,” Peter Jones exclaimed as the egg was almost entirely raw when it came out of the cooker.
Mr Seddon promised that he had tested the product and that it did, in fact, work, compounding one disaster on top of another.
“I haven’t got a clue,” he replied when asked why this one was defective.
Despite the disastrous pitch, Eggxactly Ltd received a European patent and over 10,000 online pre-orders by the end of 2009, and is still in operation today.
Derek Cozen went in looking for £50,000 for his invention attached to lights and traffic signs in an attempt to make road traffic safer, dubbed “the worst invention ever” by Duncan Bannatyne in the den.
One of the Dragons’ biggest issues was that it appeared to be completely unnecessary, implying that the flow signals would have no market or purpose at the end of the day.
Three Dragons had walked away from the deal before Mr Cozen could even finish his pitch.
“I’m pleading with you not to do it,” Deborah Meaden said. “It won’t affect my life in the least, but it will affect your life.”
Mr. Cozen is still trying to persuade people of the utility of his product, but with little success, according to reports.
Marco Hajikypri confidently entered the den, offering £125,000 for 5% of his company, Pro Gains.
By the time it entered the competition, the healthy meal delivery service had made £250,000.
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