Mark Richman on Dragon's Den

[scottlove]

Did anybody catch this on Wednesday night? http://www.cbc.ca/dragonsden/ He's part of the first presentation, about 2 minutes into the show. Episode 6 season 8.

[Talo]

no , but thanks for the link. I will.

[TT Eric]

They have rejected 200,000$! Wow they really believe in their stuff!

Eric

[steve_d]

They have rejected 200,000$! Wow they really believe in their stuff!

Eric

I think they rejected 100k + 25% royalty until buddy gets his investment back. I would say its just the opposite - they don't believe in their stuff and realize that deal would basically be giving up! Yes, people like phones, and apps, but this business was going nowhere fast. Imagine a paying customer returning after a month even? Likely no chance.

[TT Eric]

Yeah 100,000$, my bad. Still buddy was implying their business was worth 500,000$, which is a lot IMO, for a thing that like you said, that people would probably not pay for a second month.

Eric

[Shaun73]

1 million doller evaluation for an app? With only 12000 subscriptions and a 1% conversion rate? Im surprised they even offered them a deal. More surprised that they turned it down.

Richman put on a good show lol