This Product Went On To Be Worth 11 Million | Dragons’ Den

Foreign [Music] [Music] Hello dragons my name is Imran Hakeem And I'm here today to talk to you about I Teddy and hi teddy Brings the teddy bear to the 21st Century by incorporating a personal Media player at the very heart of the Teddy bear I'm looking for an investment of 140 000 In return for a 15 share in the business So if I can just take a moment To introduce you to hi teddy foreign Shuffle And that's the eye Teddy hug that's the Eye Teddy hug we've not quite perfected It yet though so together with I Teddy I Would love to demonstrate some of the Actual functions too The user interface there it's a Very simple to use Child friendly Menu system With easy to identifiable easy to Identify icons And if I can Just for a demonstration put a Movie clip on for you this is one of the Cartoons that would have been downloaded Off the website [Music] That's the actual cartoon plane now if I Wanted to go onto the audio player very

Easy keep the button press Just scroll to the audio player And I can now play myself a bedtime Story Put the whole function on Put it there with the child so child can Gently fall asleep it'll automatically Shut down Thank you very much for listening I Would love to answer any questions that You might have It's an attention grabbing pitch by Imran Hakeem who's asking for 140 000 Pound investment to launch his eye Teddy Media player and its Associated website Theopa fetus wants to know if there's More to the pitch than just an Eye-catching stunt Do you own intellectual rights to this Yes do you develop it yes from scratch From scratch yes Just Briefly summarize that Journey for Me Well I was uh sitting with my younger Brother and my gorgeous niece Amina Who's eight years eight months old we Had a bit of an argument say which of us Could find the best toy for her I came Up with this concept of a teddy bear That could do more and and I wanted to Create something that could educate her As she and grow old with her So I I I decapitated one of her teddies And integrated some

MP3 components that I had created a Monstrosity and then managed to think Well there's actually a lot more that Can be done with this and then I thought Of the download aspect of it of a high Margin Revenue stream that could be Generated looked at what material was Available that can be put on there that Was child specific and and then I uh Continued to actually research the Market This was I'd say about five six months ago and Five or six months ago yeah What protection have you got we have a Patent pending which covers the Um Actual idea of a personal media player Being integrated with a within a teddy Bear housing within a soft toy Imran's delivered an impressive account Of the itadies rapid progress so far Peter Jones wants to drill down into the Potential profitability of the invention Imran hello hello Um I kind of want to say congratulations Really I never thought I'd say that when I first saw you come in with a teddy Bear Um but you've made a A fun item quite Interesting and a and a very good Presentation

The cost of putting all of this together Because it seems quite an expensive Piece to me sure And what price are you looking to sell It at we are looking to sell it onto Retailers at for the MP4 version 28 Pounds for the MP3 version 20 pounds We can make a 40 6 margin on the MP4 and we are expecting Them to put a uh well we are RRP and get Around 49 so we expect the price in on The High Street to between 45 and 55. [Music] Imran's answering all the dragons Questions confidently and projecting Healthy profit margins right through his Distribution chain but Duncan bannatyne Is about to drop a bombshell Cameron I feel so depressed He made me so sad sorry You said the teddy bear is going to read Bedtime stories to the child That's a father's job sure but I don't Want to be replaced but I teddy bear Sure it really depresses me this this Idea I don't think we should encourage Joining technology and Terriers together Hate to see the growth of it I hope it Doesn't work for you I'm out Imran has felt the full force of Duncan Bannatyne's disapproval and lost his First dragon it's an Abrupt setback and

Now Deborah meaden has concerns about How vulnerable the eye Teddy might be to Copycat rivals You tell me that you've got a patent That allows you Or pattern pending that allows you to Place an MP3 or in fact any media player Inside a cuddly toilet that's quite a Wide claim Um and that could be of interest so can You can you elaborate on that when did You actually make your application what Stage are you at Our patent attorneys they've told us That they feel that there's a very good Chance this pattern will be granted I Mean this pattern of turn is did they do Any searches yes they did searches to Say well they feel they're called what Do they find in their searches They actually didn't find a personal Media player integrated with a soft tour And then when are you expecting a ruling On the patent At this moment in time I couldn't answer You accurately on that I am hoping that Within the next few weeks we get we get Somewhere further with it but I couldn't Answer you honestly on that at this Moment in time Thank you Imran's confidence is faltering under The interrogation about his patent but His business also includes a

Subscription website for downloading Cartoons and stories onto the iteri Theoper fetus wants to find out more About that side of the business Have you a demonstration of your website On his belly I do yes Walk over with me website and what it will allow Children to do is the parent will be Able to subscribe for the child so two Different uh subscription options 395 Option or a 595 option and once the Child signs in with a username it will Be able to select a bedtime story a Nursery rhyme whatever whatever they Want to choose and then straight away Drag and drop put it onto their personal Media player if you license content from Say if we did a deal with Disney for Example I think that would be a fantastic could You but could you utilize that In this device most definitely that is The dream come true for this particular Product [Music] Despite the reservations of some of his Rival dragons Peter Jones thinks he's Spotted a highly lucrative opportunity For the combined product and website But will he back this up by offering him Around the 140 000 pounds he's asking For in return for 15 of his business Foreign

I'd I'd like to I'd like to give you an Offer sure And the offer is I I would consider Half the money For about 22 and a half percent Okay At the moment I'd like to haul that Thought if possible Imran so we can move along sure and make It happen for you I'll match Peter's offer but mine's Conditional okay And it's conditional that the pattern Stands up Okay so you're offering 70 000 in return For twenty two and a half percent Correct Forces and offered him around the whole Hundred and forty thousand pounds but For 45 of itadi three times the amount He was offering Richard Farley and Deborah meaden have Yet to declare where they stand kanimran Persuade either of them to offer him a Better deal Imrans that's kind of made my mind up For me I'm not going to get I'm Certainly not going to make you an offer Anywhere near close to that I'm very Wavery about this for the reason I've Explained earlier so at this point so Just so that you clear what your options

Are sure I'm out [Music] Deborah meaden's anxieties about the Patent have driven her from the deal Will Richard Farley have more confidence In the business I think if you get the patent I think Your your business can be worth minions Thank you But I don't think you'll get it so I'm Just gonna Back my own hunch but you won't get it Even though I know you've got lawyers Saying and I may well be wrong I've been Wrong plenty of times but I just can't Imagine that you can just find different Places to put existing technology And get a pattern on it so I'm just Going to back my hunch and uh I'll step Out Thanks With the other three dragons now out Imran still has just one offer on the Table from Peter Jones and Theo perfetis But will he part with almost half of his Business for the 140 000 pounds he so Desperately needs [Music] I feel that You guys would both bring a lot to to The business however I'm a little Uncomfortable with the amount of equity We're looking at here if we can maybe Look at 17 and a half percent each

That's something that I would be Prepared to do so we're looking at Around 35 as a combination who owns the Shares I own them 100 100 yeah 70 and a half percent is something that Would be my maximum that I would be Willing to go to Um in doing this deal [Music] Imran's keeping his cool and he's Decided to take the high risk option and Try to negotiate the dragons down on Their Equity demands [Music] Hey Brad because We are taking I'm taking a flyer here But I would be willing to meet you Halfway okay And offer 20 and if Theos I'm taking a flyer that's why And for two and a half percent You're taking a fly you're taking the Flyer Okay So that would mean that you'd get 140 000 pounds today You get Theo and I but for um for 40 Percent [Music] Foreign I think as well as your finances your Expertise is something that really sort Of attracts me in the individual aspects That you can bring to it and on on that

Basis I would be happy to do the deal You got a deal milestone [Applause] Imran has done it he's had to sell the Dragons a much bigger slice of his Business than he intended but ultimately Felt it was worth the sacrifice to Secure their cash and expertise Foreign You got your money does that deal work For you I think it really does Imran I'd I'd Like to I'd like to give you An offer I'll match Peter's offer with Them guys on board as well as the Financial uh backing I feel that will be Invaluable in trying to ensure that itel Becomes a huge product well very very Well done

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