Lat week's Dragon's Den episode featured Carol Savage & her recipe sharing website www.mydish.co.uk. For the first time ever in the history of Dragon's Den, she was offered twice the investment she came in for, in the end settling for a £100k investment in return for 15% of the business.
What was interesting for me was seeing how the 5 different dragons reacted to the pitch. Some clearly just didn't get the concept & couldn't see the scalability of social media. Others couldn't see clear revenue streams. Deborah Meaden however was quick to latch on to the potential of the idea. Unusually for a web start-up, Carol had a number of clear potential revenue streams from the site, some of which were already up & running. When she mentioned the functionality within the site to shop fror the recipe ingredients from within the site, via Ocado & Asda, I was very very impressed. It's logical, makes a change from relying on advertising revenue & has the potential to be very lucrative for Carol & her investors. Great idea!
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