The Dragons May Have Just Faced The Worst “I’m Out” Scenario
Best friends who turned down a Dragons’ Den offer for their business have proved they could go it alone now that their business is worth £2.6 million.
Alex Somervell, 27, and Jonny Pryn, 25, refused a £60,000 cash offer from Peter Jones in exchange for 20% of the business.
Dragons’ Den star Jones, along with fellow dragons Deborah Meaden, Touker Suleyman, Jenny Campbell and Tej Lalvani, were stunned as the friends rejected the offer in an intense exchanged aired on February, 2018.
But, eight months on, the pair’s business One Third Stories – producing tools to help children learn foreign languages – is now worth a massive £2.6 million.
That’s how it all changed at one particular moment. Not only Dragon’s Den have lost one of their best possible assets, the situation also proved that entrepreneurs can push on their own and reach success without financial aid from the Dragons.
Dragon’s Den is done for the guys as their company that can affect millions of Brits around the country in a positive fashion, reach the penultimate point of their startup. And by the looks of it, the more is yet to come. The deal that never happened puts an end to the “before”, when people abandoned their businesses after Dragon’s rejection and gives a birth to a new “after”, where everybody with a dream, idea and aspiration can reach the sky without the approval of big business guys.
Having only been prepared to offer 7.5% equity, Mr Somervell and Mr Pryn were sneered at and dubbed “greedy”, with Meaden dismissing “greed” as “naivety”.
Mr Somervell told The Sun: “When Peter Jones made the offer we were tempted because he was the Dragon we really wanted. Before we went in we discussed the option of negotiating, but we gave our best offer and had to stand firm.
“We knew our business had a lot more potential than he gave us credit for – and we were confident enough to leave without a deal. Afterwards we did wonder whether we’d done the right thing, but we know now we did for sure.”
The Dragons – and viewers – were impressed with the duos business venture of creating storybooks to help children learn another language, with tales starting in English and ending in a second language.
This may affect the lives of Brits alongside other English speakers as the company could fill the void of learning other languages. This can help children learn new stuff faster and with more enthusiasm, turning kids into multilingual people, opening their possibilities to the world they inhabit.