Dragons’ Den investors turned down best deal in show’s history when they refused to put £100,000 into Brewdog that would now be worth £360million, beer firm boss says
- James Watt revealed proposed Dragons’ Den investment now worth £360million
- He and co-founder Martin Dickie had asked for £100,000 for 20% of business
- Applied in 2008, only managed to get to screen test before producers rejected
The CEO of Brewdog has revealed his plea for investment turned down by Dragons’ Den 13 years ago would now be worth £360m – the best deal in the programme’s history.
Co-founder James Watt, 38, revealed ‘we pitched our hearts out’ to the BBC show in 2008 but only got as far as the screen test before he was rejected by producers.
The craft beer company was just two years old at the time, and along with business partner Martin Dickie, he asked for £100,000 for 20 per cent of the business.
Brewdog co-founder James Watt (right, with business partner Martin Dickie) has revealed the company’s appeal to Dragons’ Den in 2008 would now be worth £360million
But he has now revealed a recent valuation of the brew company means the Dragons’ missed investment would now be worth a staggering £360 million.
Writing on LinkedIn last week, he said: ‘In 2008 we applied to Dragons’ Den & got as far as a screen test and we pitched our hearts out before the producers rejected us.
‘They deemed Martin and myself not investment worthy – we were totally crushed.
‘Based on our latest BrewDog valuation, that investment would be now worth almost £360m.
‘That means the Dragons missed out on by far the best deal in Den history.’
James said their pitch was rejected because it ‘was not unique enough, special enough or with enough growth potential to make the grade’.
A recent valuation of the company means if the Dragons had invested £100,000 for 20 per cent of the business it would now be worth a staggering £360 million. Pictured: The Dragons in 2008
He described how at the last minute, he and Martin were told they would not be pitching their business to the Dragons.
James said: ‘It was a huge kick in the teeth for us at the time and that stinging rejection still burns today.’
But he told how the two eager businessmen went on to build ‘a pretty neat little business’ without the Dragons’ investment.
He said: ‘We got over the rejection eventually – but it took a while.
‘It would have been by far the most lucrative investment, not only in the history of Dragon’s Den, but pretty much in investment history overall.’