Dragons’ Den stars and it’s viewers were left confused during the recent episode after one impressive entrepreneur decided to reject three offers – after having to change her original pitch.
Peony Li walked into the den on Thursday, March 21 and asked for the an investment into her company We Are Jude, which sells products designed to help bladder issues.
Li’s company sells sanitary towels, liners, leak-proof underwear and supplements – with the latter containing soy phytoestrogen and pumpkin seed extracts – and is the company’s biggest seller.
Making up 80 per cent of their sales, Li said that the pills could help people struggling with menopause, as they claim to relieve the symptoms of stress incontinence and an overactive bladder.
We Are Jude launched 17 months ago and had 13,000 customers, generating £1.4million in revenue – Li's pitch left the Dragons stunned.
She didn’t stop there and explained that the company had raised £5million so far and has forecast to make £4million of revenue in the next 12 months.
Peony Li's brand helps with bladder issues and incomitance
BBC
The ambitious 29-year-old also revealed she had already secured investments from Reckitt Benckiser, which owns Dettol, Nurofen and Durex.
As she finished her pitch, Steven Bartlett dubbed her a “superstar” with Touker Suleyman adding on that she was “one of the most credible entrepreneurs to come into the Den.”
It was set to be a perfect pitch, but Li soon dropped a bomb when she revealed she wanted £100,000 from an investor in exchange for just 1 per cent of the business.
The Dragons were visibly shocked, leaving Suleyman to note: “1 per cent doesn’t agree with me,” before Sarah Davies added: “I just don’t want to get out of bed for 1 per cent.”
The Dragons were let stunned when Peony declined their offer
BBC
Guest Dragon Emma Grede, Deborah Meaden and Peter Jones all made offers for the £100,000 investment – but in exchange for 3 per cent of the business instead.
Li, who comes from an entrepreneurial family, stood her ground and counter-proposed £100,000 for 1.5 per cent of the business.
Unfortunately for Li, the risk didn’t pay off as the remaining three who were interested in investing pulled out, with Meaden calling the move “one step too far.”
Grede added: “At 1.5 per cent, I just can’t make it make sense,” leaving Li to exit the Den empty-handed and for the Dragons to sit with their baffled thoughts.
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Peony left the Dragons stunned with her pitch
BBC
Reliving the moment, Meaden noted: “She completely discounted the value that not just we bring to her but we bring to her other investors.”
“I just don’t understand that decision. I reckon she’s walked out there and she regrets that,” Grede added, but Li’s attitude seemed positive.
Still standing firm on her decision, she told the cameras: “I think the Dragons will regret not investing. I know that Jude is going to be a massive company.”