Touker Suleyman In Awe At One Of Best Dragon's Den Pitches Ever
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An entrepreneur managed to impress Touker Souleyman on last night's episode of Dragon's Den - so much so, in fact, that he referred to the idea as 'one of the best pitches I've ever heard'. Watch below:
Sam Jones went in front of the Dragons to pitch his business, Gener8, which allows people to earn points when their data is tracked online through cookies.
He put forward an offer of £60,000 investment for 10 percent equity in the business, explaining that Gener8 users can either go into 'privacy mode', which stops companies from tracking their data online, or 'earning mode', which allows people to earn points as they share data.
In turn, these points can be redeemed on products, vouchers or charity donations.
Sam said that the 'open secret' within the advertising industry is that 'it's built on exploiting our data', and explained that a similar company in the US - which rewards users with cryptocurrency - is valued at about $135 million, with around six million users.
There's also the option for users who choose to share their data to allow Gener8 to tailor online ads to them, so that they are based on their interests.
He told the Dragons: "There will be a billion dollar business built in this space, and it may be that the first one who gets there wins it."
Needless to say, this piqued the interest of the show's business titans, with Peter Jones describing the idea as 'really clever'.
He said: "I think it's really, really interesting and the timing of this, it is now."
Touker was also keen, telling the Gener8 entrepreneur: "Sam, I've been in the Den for six years.
"This is one of the best pitches that I've ever heard."
Peter was the first Dragon to make an offer, putting forward the £60,000 investment for the 10 percent of equity that had been laid on the table.
Tej Lalvani and Deborah Meaden also offered the exact same, while Sara Davies decided to leave it to the others due to her lack of expertise in the area.
Peter and Touker ended up doing a tag-team to clinch the deal, saying they were willing to take five percent of the business each.
Very excited to work with Gener8 , get control of your data sign up to @Gener8Ads
- Touker Suleyman (@toukersuleyman) April 22, 2021
To seal the deal, Touker also told Sam that he and his employees could use his offices for free for up to a year.
Afterwards, Sam said: "This is such a gamechanger to have two massive Dragons on board, just helps to make sure that my business is a household name in future."