The pitch
What walked into the Den
Magic Pizza appeared on Dragons' Den in season 6, episode 6, which aired in 2008, pitched by Raymond Smith.
In the pitch, Magic Pizza asked the Dragons for £50,000 for 30% of the business, valuing the business at about £166,667.
After the show
What happened next
On air, Magic Pizza agreed a deal of £50,000 for 30%, backed by Peter Jones and Theo Paphitis. The terms are quoted from the aired episode as public record.
Our read
The Hub verdict
There is something very Dragons' Den about a frozen pizza engineered to beat a soggy base, and Raymond Smith turned that hook into a deal. He asked £50,000 for 30 percent of Magic Pizza, a valuation of about £166,667, and closed it on the same terms with two heavyweight backers, Peter Jones and Theo Paphitis, sharing the stake. Getting two Dragons rather than one usually means a livelier bidding moment and, often, more doors to knock on afterwards. Thirty percent between them still leaves Smith the majority owner.
