06 Nov
Discover Thortful’s Successful Journey on Dragons’ Den

thortful dragons den
Written By
November 06, 2023
Posted at 07:20h in Cashback by

Thortful, the online marketplace for greeting cards, recently made waves on an episode of Dragons’ Den. Founder Andrew Pearce presented Thortful as a revolutionary mobile app that allows users to design their own greeting cards and earn royalties with every sale. Despite initial doubts, investors Tej Lalvani and Jenny Campbell were won over by Pearce’s impressive track record and financial projections, leading to a successful deal for £80,000 in exchange for 16% equity. Thortful is projected to achieve a turnover of £6.7 million by 2019.

Key Takeaways:

  • Thortful, an online marketplace for greeting cards, secured a successful deal on Dragons’ Den with investors Tej Lalvani and Jenny Campbell.
  • Founder Andrew Pearce pitched Thortful as a mobile app that allows users to design their own greeting cards and earn royalties for each sale.
  • Despite initial concerns, Pearce’s successful track record and financial projections convinced Lalvani and Campbell to invest £80,000 for 16% equity.
  • Thortful is predicted to achieve a turnover of £6.7 million by 2019.

Thortful Dragons Den Pitch and Investment

During my pitch on Dragons’ Den, I shared my previous successes in building and selling businesses, totaling £21 million in revenue. This track record of entrepreneurship impressed the Dragons and showcased my ability to create profitable ventures. Additionally, I invested £1.5 million in developing the Thortful app, demonstrating my belief in the potential of the platform.

However, not all the Dragons were immediately convinced. Some raised concerns about competition in the greeting card industry and the potential dilution of their equity. It was important for me to address these concerns and highlight the unique selling points of Thortful.

“Thortful offers a mobile app that allows users to upload their own greeting card designs and earn royalties for each sale. This innovative approach sets us apart from traditional greeting card companies, and we have already seen promising growth with over 20,000 registered users and partnerships with more than 1,000 independent artists.”

Despite initial doubts, Dragons Tej Lalvani and Jenny Campbell recognized the potential of Thortful and offered a joint deal of £40,000 each, with a total equity stake of 10%. I successfully negotiated the equity down to 8% each, dropping to 5.5% once the investments are repaid. This deal not only provided valuable funding for Thortful’s growth but also brought on board experienced investors who could contribute their expertise to the business.

Dragons’ Den Success for Mo Bros

Another exciting success story from the recent episode of Dragons’ Den features Mo Bros, a renowned men’s grooming retailer specializing in top-quality products for beards and moustaches. The talented entrepreneurs behind Mo Bros, Keval Dattani, Kunal Dattani, and Savan Dattani, captivated the attention of investors Tej Lalvani and Peter Jones with their impressive business pitch.

During their presentation, the Dattani brothers shared their personal experiences with facial hair issues and how they turned their passion into a thriving business. With revenue of £1.3 million in the last 12 months, it was clear that Mo Bros had already established itself as a leading player in the men’s grooming industry. This remarkable achievement caught the interest of Lalvani and Jones, who were eager to become part of the Mo Bros success story.

After careful consideration, Lalvani and Jones offered a combined investment of £75,000 for a 10% equity stake, valuing Mo Bros at an impressive £750,000. This partnership not only provided the necessary funding for Mo Bros to further expand its business operations but also brought invaluable expertise and mentorship from Lalvani and Jones, both renowned business moguls in their own right.

As Mo Bros continues its remarkable journey, this successful outcome on Dragons’ Den is a testament to the entrepreneurial spirit and unwavering dedication of Keval, Kunal, and Savan Dattani. With the support and backing of Lalvani and Jones, Mo Bros is poised to reach even greater heights in the men’s grooming industry, solidifying its position as a leading brand for all beard and moustache enthusiasts.

FAQ

How did Thortful perform on Dragons’ Den?

Thortful appeared on Dragons’ Den and secured a successful deal with investors Tej Lalvani and Jenny Campbell.

What is Thortful’s business model?

Thortful is a mobile app that allows users to upload their own greeting card designs and earn royalties for each sale.

How much did Tej Lalvani and Jenny Campbell invest in Thortful?

They invested £80,000 for 16% equity in Thortful.

What are Thortful’s financial projections?

Thortful is predicted to achieve a turnover of £6.7 million by 2019.

What experience did Andrew Pearce have before pitching Thortful?

Andrew Pearce had previously built and sold two businesses and made £21 million.

How much did Mo Bros achieve in revenue in the last 12 months?

Mo Bros achieved revenue of £1.3 million in the last 12 months.

Who invested in Mo Bros on Dragons’ Den?

Mo Bros secured a deal with investors Tej Lalvani and Peter Jones.

How much did Tej Lalvani and Peter Jones invest in Mo Bros?

They offered £75,000 each for 10% equity, valuing the company at £750,000.

What does Mo Bros specialize in?

Mo Bros is a men’s grooming retailer specializing in products for beards and moustaches.

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