The pitch
What walked into the Den
Caner Veli brought Liquiproof to Dragons' Den in season 13, which aired in 2016.
In the pitch, Liquiproof asked the Dragons for £100,000 for 50% of the business, valuing the business at about £200,000.
After the show
What happened next
On air, Liquiproof agreed a deal of £100,000 for 50%, backed by Touker Suleyman. The terms are quoted from the aired episode as public record.
Our read
The Hub verdict
Caner Veli opened Liquiproof at £100,000 for 5 percent, a £2,000,000 valuation on a waterproofing brand. He left having agreed the same £100,000 for 50 percent, with Touker Suleyman taking an even half of the company. That is a tenfold swing in equity for an unchanged cheque, and it drops the implied price from two million pounds to two hundred thousand. A fifty-fifty arrangement changes the whole relationship, turning the investor into a full partner with an equal say, so what Veli conceded was control as well as value. He evidently wanted Suleyman's retail muscle badly enough to pay for it that way.
A fifty-fifty deal that made the Dragon an equal partner.
