Series 13: Episode 12
Company/Product Name: Tegology
Entrepreneur(s): Spencer Turner
Description: Turner entered the den seeking an investment of £45 000 for 25% of his company.
His Tegstove gas powered camping stove can cook food and with the help of an thermo-electric generator can charge any USB device at the same time.
Meaden was impressed with the product and was the first to make an offer for the full amount and the equity he was asking for. Jones then also made the same offer and also offered to split it with Deborah for an increased equity stake of 30%.
With serious interest in the product Suleyman made an offer for £60 000 for 25%, more money he was asking but the same stake.
Turner decided to accept the offer from Peter and Deborah as a combined investment but Deborah then revealed that she ‘was going to be greedy’ and wanted the investment to herself turning down the joint investment. At this point Turner then decided to accept the offer from Peter Jones.
Investment Received: £45000
Equity Given: 25%
Investor: Peter Jones