The pitch
What walked into the Den
Neil and Laura Westwood brought Magic Whiteboard to Dragons' Den in season 6, which aired in 2008.
In the pitch, Magic Whiteboard asked the Dragons for £100,000 for 40% of the business, valuing the business at about £250,000.
After the show
What happened next
On air, Magic Whiteboard agreed a deal of £100,000 for 40%, backed by Deborah Meaden and Theo Paphitis. The terms are quoted from the aired episode as public record.
Our read
The Hub verdict
Neil and Laura Westwood pitched a deceptively simple idea in season 6: a whiteboard you unroll and stick anywhere. Simple products can be the hardest to value, and they opened at £100,000 for 15 percent, pricing the business near £666,667. The room did not accept that. What closed was the same £100,000 for 40 percent, Theo Paphitis and Deborah Meaden taking 20 percent each, which pulls the implied valuation down to £250,000. Handing over more than double the equity you offered is a heavy concession, though two Dragons on a low-tech, high-margin consumer item is a strong signal in itself: both saw a clear route to retail, and between them they had the buyers to prove it.
