If at first you don’t succeed, try, try again.
Think getting rejected at Dragons’ Den is the end of the road for entrepreneurs? Not for this guy.
Shaun Pulfrey braved the high-pressure and intimidating looks of the Dragons in a bid to raise £80,000 in exchange for a 15 per cent share in his young company, Tangle Teezer (sound familiar?).
The then Dragons – Deborah Meaden, Theo Paphitis, Peter Jones, Duncan Bannatyne and James Caan – listened to his pitch, but when it came to putting their hands in their very deep pockets, they responded unanimously that they were ‘out’.
Calling the idea ‘hair-brained’, ‘a waste of time’, and resembling a ‘horse brush’, they basically told Pulfrey and his Tangle Teezer to get lost.
But the hairdresser-turned-inventor didn’t let that stop him – and he’s now set to be worth a whopping £200 million, the Mirror reports.
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Shortly after appearing on the BBC2 show, Pulfrey’s Tangle Teezer become a global phenomenon sold in 70 countries, counting Victoria Beckham, Cara Delavigne and Emma Watson among its fans. Nicole Scherzinger even endorses it.
Should Pulfrey’s £200 million sale go through, the brush will make the inventor five times richer than Deborah Meaden, who has an estimated fortune of £40 million. If she had taken the £80,000 investment, she would now potentially be seeing a return of up to £30 million.
It was reported earlier this year that the business was set to sell for £100 million, but because good ol’ Brexit has brought down the value of the pound, it’s boosted overseas sales, so investors could now be prepared to pay twice that amount.
And as Mr Pulfrey is the sole shareholder, he’ll be the one enjoying the profit. Not a bad paycheque, is it?