The pitch
What walked into the Den
Geoff Dodsworth of Calgary presented Dex10, a modular flat-pack furniture system, in season 15, episode 9.
He put $1,000,000 on the table for 10 percent, a valuation of $10 million that set a high bar for the pitch.
After the show
What happened next
Every Dragon passed on the valuation, and Dex10 left without an investment.
Our read
The Hub verdict
A $10 million valuation on a flat-pack furniture line, $1,000,000 for 10 percent, is a bold number, and it drew friction from the panel over exactly that. High asks invite hard questions, and this one got them.
Nobody invested. Flat-pack furniture is a punishing place to ask for an eight-figure valuation, because the category is defined by a global incumbent that competes on price, and a modular system has to be tooled, manufactured, warehoused and shipped before it earns a dollar. A million dollars for a tenth of that was never likely to clear the room without deep sales sitting behind the number.
