Peter Jones Thinks He Can Turn A Tea Business From £2M Debt Into £1BN In Profit | S18 | Dragons' Den

Dmitry Klochkov and his business partner are next to face The Dragons. They're valuing their company at almost a whopping five million pounds and are confident that's what their business is worth. Peter Jones believes he can get the company to make even more money, but will any of The Dragons shy away from the hefty two million debt the tea entrepreneurs have got?
They're seeking an investment of £70,000 for 1.5% of their tea company, Off Blak.
Season 18, Episode 1
An international sensation, Dragon's Den features entrepreneurs pitching for investment in the Den from our Dragons, five venture capitalists willing to invest their own money in exchange for equity.
#DragonsDen #BusinessPitch #OffBlakTea

[@GodotOfficial]

No amount of caffeine in that tea will get Touker out of bed for 1.5%

[@jamesstead2256]

Unless he can give away some Offices

[@gideon6723]

Theïne

[@thealien_ali3382]

I wana do touker

[@kashif9145]

@@jamesstead2256 he has stopped offering his office space!

[@jamesstead2256]

@@thealien_ali3382 Especially when he is in a baby's nappy 🤣🤣

[@djbillye4943]

Toulker doesnt get out of bed for less than 45%

[@cryt6381]

@dj Billy E, I made a top ten facts on the dragons den. Average equity is 40% so touker goes the extra mile haha

[@sjaymabaso9391]

🤣🤣🤣🤣🤣

[@buyisiwetshabalala7261]

Hehe

[@Technicallyimright]

The person in charge of Kitchen Nightmares KZbin video titles really should be hired for Dragon’s Den.

[@scoundrelkeklord6827]

Absolutely. Maybe then whoever writes the titles now would not be able to spoil the whole bloody episode.

[@spoonerstreet32]

Peter has been unusually quiet today

[@TomNook.]

Touker: "Would your tea bags like some office space in London?"

[@edward9643]

Ha ha- 😂 oh so true

[@cryt6381]

This would be a top comment winner on my channel🤣

[@Gonken88]

Offith thpathe.

[@davemckagan635]

Taj always looks like he's just smoked with Snoop Dogg.

[@AnythingGasoline]

This company is now worth over 10 million USD and have expanded overseas to China, Philippines, Russia and South Korea. Impressive in such a short amount of time. Mr.Jones knows what he’s doing!

[@aebimomi]

The guy is a visionary.

[@bluceree7312]

Never heard of it. Then again, I'm not a millennial.

[@eivmo1926]

@@bluceree7312 I'm and I have never seen this.

[@sjefhendrickx2257]

USD is not real money…..

[@olukunleakinola7133]

@@sjefhendrickx2257 oh wow for real?

[@andrewjones-productions]

If tea companies and consumers really want to be eco-friendly, there is a very easy way to do it and it existed long before teabags on string. Buy it loose in a can with a reusable lid and use a teapot and tea strainer. These kinds of 'lifestyle' products I do not find in the slightest bit appealing and if Deborah Meaden was really that eco-friendly, she would call out this kind of business and declare herself out from the outset. Think about it, why on earth do you need to have a selection of teabags packed in a fancy, unnecessary box, probably put inside another box for delivery to your door. This may be targetting millennials but the millennials would be far better off making a lifestyle choice of buying things like tea from their local high street/village shop and supporting the local economy and small retailers.

[@bluceree7312]

That's how my parents used to do it and it tastes so much better. This is why I rarely drink tea, all these teabags taste like red, pink, green, purple water.

[@revenant7734]

Well said

[@lars_asmr]

Could not agree more with this

[@InfraynorGB]

@@bluceree7312 OP makes a pertinent point that had the ironic effect of compelling you to oust your low quality taste buds. Very funny.

[@TheCheckit96]

Oohahahah...red, green , purple water...lol. Holy water one of my faves by bad company.

[@chriswilson5199]

Pretty much described the whole episode in title of the video. Thanks for that

[@edward9643]

For once Peter's offer was not greedy - i hope they do well

[@xnec14]

His offer was over 6.5 times more than they wanted but it seems reasonable since it's just 10%!

[@SirLawrenceBarrisclaw]

The company paused trading in 2023 to decrease costs with debts over £3m. They are overdue for their latest financial statement.

[@franklinegbuche7097]

"To be bought out by a larger company, in about 7-10 heads from now" "How many"? "7-10 years" "I will be in a wheelchair by then" 😭😭😭😭

[@cryt6381]

This would be a top comment winner on my channel🤣

[@janlassen6101]

Finally they invented Tea.... Soon i hope they will invent the wheel.

[@rizalukman7982]

One of the most consistent dragon is Peter.

[@Gyuresssz]

Peter clearly thought this is a gold nugget, he can hardly cover up his excitement, and roasting the others like he won a board game

[@stevesalt9005]

Thats was some wholesome negotiations.

[@kaj661]

BenjaminGoose is apparently coming up with his own tea product, he's calling it "PG Tips". It's a bag of tea that you can dip on water to make tea without the bits. He claims that he came up with the idea in 1895 and anyone else copied him

[@gerbil61]

BG Tips?

[@randomnetfiend]

@@gerbil61 haha

[@kaj661]

@@gerbil61 hahaha nice

[@scienceevolves4417]

😅😅😅😅😅 Genius

[@wolvoman1]

That box looks bigger than the letter box opening

[@MobileGamingLounge1]

Easy to fix

[@mojojojo3796]

​@@MobileGamingLounge1 yup, the entire country needs to replace their postbox.. simples

[@holyghost168]

@@mojojojo3796 I will give you all of the money, but I would want 49%

[@AdamIslam-mc5nd]

You need to speed up...His reaction killed me 3-4 years to make a advent calender

[@BenjaminGoose]

"a advent calender"? In English we would write "an advent calender".

[@AdamIslam-mc5nd]

@@BenjaminGoose ok

[@avinci3116]

@@BenjaminGooseoh boo you

[@davidadams6863]

That was fantastic

[@ianlister7333]

something tells me, this deal did not happen. Cant say for sure, but this aired in April 2021, and they Twitter dies in October 2021.

[@user-lz7kq8ne9e]

That company is worth $2 billion now Peter was right

[@MindSetReset]

@12:40 😂 Touke's reactions are too funny😲

[@Steven-ze2zk]

I can see it so clearly now. Social distancing made us all look utterly ridiculous.

[@adamlacey81]

There is a reason Evan Davis stays on the ground floor of the Den and why they installed a lift and got rid of the stairs. It's for the Dragons' peace of mind and security. In the past it was far easier for Evan to disrupt a pitch by tearing quickly up the stairs, at least now when a pitch is in process and they hear the lift moving they have time to prepare themselves and warn the entrepreneurs to find a safe space.

[@jamesstead2256]

Evan Davis lives under the Stairs My Precious

[@gman7038]

It's not actually a real lift.

[@adamlacey81]

@@gman7038 obviously, even better security from Evan's antics.

[@chrisparti]

His puns 🤢🤢

[@NoelIRE]

It's not a real lift. The whole place is a set on a studio.

[@cleopatrysztuka]

Seeing the plastic tea bag, i wouldnt even try the tea and would call out straight away 😖😖😖

[@christhurston3545]

This is pretty bad treatment of their existing investors. Those folks had to pay a much higher price: they paid 300K for 5%. They then gave Peter the deal of 70K for 7.5% just one month later. Not only is that a giant price discrepancy, but it also immediately dilutes them. Everyone involved understands this, so it's confusing to me why Peter would want to work with founders who would treat investors this way. After all, if they do it with you, they'll do it to you.

[@AH-te5gs]

I doubt that when those investors came on board a month before them going on Dragons' Den, their coming on Dragons Den was not part of that conversation.

[@GuessTheSongMS]

That relief at 10:43

[@internet_userr]

Nice

[@ChintanCG]

Didn't see that one coming

[@gamewithadam7235]

Pretty sure every packaging can be technically recycled in the council bins.

[@DUBLL100]

I bought some special off black chocolate tea in Harrods because the packaging really stood out and try’s tme this tea is something else 👍

[@thealien_ali3382]

I once made love to a pigeon I did it deep

[@kevinnandkishore9111]

Marshmallow giving boaties insurance 😂

[@johnmorton2832]

When they say we are on a mission, time to say I'm out 😂

[@techtitanuk5609]

They are doing really well

[@sadikmeah4057]

A billion pound tea company?? Now i heard it all 😂😂😂

[@NuriArieff]

Nice to tea guys!!!

[@chiller1017]

Unfortunately, a quick search on companies house, shows this company is no longer trading and has debtors of over £3 million. Obviously, Peter never ended up investing, and Touker was once again spot on.....

[@anthosm]

The deal was signed.

[@crypticcomputing604]

@@anthosm for the show.

[@anthosm]

@@crypticcomputing604 what? the deal was actually signed after the show. At least that's what's listed on a wikipedia article that follows whether the successful pitches end up getting signed or not.

[@onweniprincessashinze982]

I can't believe they got some investment, it's ridiculous.

[@akywongster]

It’s worth 10 millions usd today

[@onweniprincessashinze982]

@@akywongster profitable? Or what's it's ARR?

[@scienceevolves4417]

​@@onweniprincessashinze982 still making a net loss😅

[@smoothmicra]

To think we are all ordering tea from the internet these days, so obvious...said nobody ever.

[@scienceevolves4417]

Yes.. and of course we are all sending a packaging to the producer by RM special delivery after we've used the product so that they could kindly recycle it for us! 😂😂😂😂😂😂

[@vicasbailey6895]

A couple of diluted tea leafs😂

[@boominband]

That was a good tactic to get the % down

[@barteatmyshorts8252]

4:45 Peter reaction to Deborah’s comment is priceless😂

[@Hutchyy]

A smile and slight laugh is priceless..?

[@paulgamble8531]

OMG!! Did u see the way he slightly smirked? 😏

[@originalunoriginal4055]

Touker foreseeing himself in a wheelchair! 😢😮

[@RockyDave]

...And he wouldn't get out of it for 1.5%.

[@Marais-cu3vo]

Can someone tell me what is so special about the tea? It's basically a copy of Twinings.

[@tacocat717]

What business are they offering? Tea for.. Millennials.. What's that?

[@yawantwi-gyamfi4656]

This is what sets Peter Jones apart, of course all the other Dragons were utterly gutted.

[@keyquestions]

They were dumbfounded at first, and it seems they were right to be

[@marchumphreys3865]

2:28 and touker is the first to be peed off.

[@randomnetfiend]

He's getting old and grumpy.

[@Big_Old_Bondy]

Peter: Do you know anything about me? Dmitry: Heard a few stories. Peter: Have they been good stories? Dmitry: ......Sure. Why not.

[@thealien_ali3382]

Lol

[@scienceevolves4417]

Peter: do you know anything about me? Dmitry: do elaborate please Peter: well I own Jessops. And if Jessops wasn't selling what we're selling, we would be selling tea. How does that sound? 😅😅😅

[@craigkelly4278]

I wonder if any of these things fail after these guys invest

[@ChicDead26]

the company still exists so thats gotta count for something

[@seansmith877]

I love Peter says they're all gutted cause they lost even though they all backed out aaaages ago without even making an offer so clearly they didn't want it haha

[@stevebomonster]

Plastic in the tea bag ????? Micro?

[@aaronrowles6596]

Jenny: selling a 2009 Cheryl Cole calender that has unique value because it contains my signature NOT Cheryl Coles!

[@dancewithjlb]

What business was Peter talking about when he said it was loosing 400k / month, and its now worth 1 billion??

[@keyquestions]

Probably some tech start-up that will go bust one way or another

[@salemkid1979]

"my little daughter" did TOOKER become a DA at 70?

[@jasonm4332]

ooooh i likey !!- "would you be willing to increase your contribution to 100.000 on the basis you are getting 10%? "

[@nathanpiper1346]

dissolved 2020, these kind of companies is whats wrong with the financial world, all sounds a bit dodgy

[@truthteller6161]

Zara is out ! And I haven’t watched the clip yet.

[@Cypher791]

Tea… rrific….. ☝️😳☕️

[@Manchester786]

Touker Is A G U KNOW! 😂

[@user-wx9ky9lr1y]

In this arena £70,000 is peanuts!! Don’t get it why the other’s didn’t jump in??? 😅😅 Now the company is worth something!!

[@nisnga147]

no its not. They are not even trading on their site. Their socials are totally dead.

[@kss4652]

Why they don't stand up and shake hands?!!!

[@jochenheiden]

This was filmed during COVID.

[@gamewithadam7235]

Poor negotiating tactics. Peter said he will make the company 1billion. Tell him 5% of that is worth a lot more than his 70k.

[@cryt6381]

Have to do a deep dive on this company, top notch work!

[@keyquestions]

Top notch at losing 1.2 M 😂

[@jf1341]

That was a bad deal by Peter at the last minute, willing to drop his equity to 7.5% for a measly 70K, of what could be potentially a multimillion pound company. why did he do that?!

[@PharmacyAve]

Yeah he should have added the 30,000 pocket change for him

[@billyscorner2232]

it's nice to see he is not totally greedy.

[@EstrellaViajeViajero]

I think it was for a measly $30k.

[@user-ru3ql6ji4p]

Now, is it a billion dollar company yet?

[@bobmiller7502]

he could of asked for 20% the way they are loosing money every month

[@hohohohehehe6910]

Imagine being named after a machine gun

[@danram69]

does sara ever invest ??

[@mary_syl]

There was so much wrong with this pitch: horrible valuation, huge debt, poorly executed promises of sustainability...... and it still got an investment 🙈

[@viz8746]

Peter not only gave them a bone, but when the pair negotiated for 2 bones, he gave them 2 bones with ridiculously large quantities of meat on it. Peter could have asked for 20% for 70k and they would have had to agree, leave alone 10%. The 2.5% equity return on repayment was very generous indeed.

[@neilpa]

Barbara just conference called to state that this is potentially a fabulous investment and that she really believes in the individuals and that she can turn this into a $10 billion company.....and therefore she's out.....

[@rileywebster5632]

Wrong name. Spoiled your own joke hahaha

[@Sb-er6bs]

Can't believe he spelt Jenny wrong

[@wrightcarl1181]

Poor Tooky, got less than five years to live

[@shadaba.qureshi4367]

Aggressive businesses backed by financial pockets are hungry vultures devouring market share via market capitalization. dont understand dragons anger on net losses in initial rounds, because new businesses nos 1 goal is not profit but market seizure/turnover. Peter taking 7.5% @ 70K is valuing business at less than a million pound. Good deal for something that's already raised money at 6 million value.

[@brianpaige4884]

Nope... definitely a Yorkshire tea man....

[@dani15sports]

Think at this point Peters just got too much money he’s lost it

[@randomnetfiend]

SO TRUE

[@joewas2225]

Nope, I refuse to buy online & subscribe to a business like that. If I'm getting tea it's at a store or tea shop.

[@jarednil69]

Allegedly their company is now worth $10 Million.

[@thealien_ali3382]

I like hairy ponies now

[@BenjaminGoose]

I value it at $0, so you're wrong.

[@DficienC]

No, the company mentioned in this video, valued the company at $10 million before this was shot.

[@-elvis-3592]

cant value a startup at 5 million just ridiculous but peter is 9/10 always right

[@malcolmclements9254]

Peter's not the richest guy in the room for nothing.

[@7hhxi]

Why would you make a product that only targets a specific generation, so weird

[@christophermills1733]

I think those 2 chaps are worth investing in.

[@Sr68720]

does everyone just get an offer these days?

[@ellenkarlsson9490]

Isn't this just Bird and Blend, but boring? High quality teas ✔ Tea subscription that fit into the mail box ✔ Sustainable ingredients and packaging ✔ Fun and exciting flavors ❌

[@antb3334]

Peter buggered up here. He gave away 2.5% of all future assets for £30k. 2.5% of a billion dollar business = £25m. Even a £100m business = £2.5m…

[@davidholgate123]

No, he didn't even take up their offer of more capital for less equity and instead proposed a new offer of ratcheting down the equity after he was paid back which they accepted... He added on the extra percentage anyway for his expertise, above the price other investers had paid, on top of a discount they had already factored in... And after being paid back, he's basically got free equity in a multimillion pound business or even a billion pound business if he's prediction is correct.

[@jasonveryard2962]

Could be the Levi roots of teabags

[@stephaniew7093]

that sounds so dirty lol

[@randomnetfiend]

um, nah! BANKRUPT.

[@mohammedpatel3537]

How do the dragons value a business?

[@gazabeebles]

oooo peters lips are tight, but has he been unusually quiet?

[@ellenkarlsson9490]

5:00 They hired the sloths from Zootopia to do the product development, didn't they? Only logical reason for it to take that long.

[@DJcyberslash]

Touker will get out of bed for 5.1% but to put on clothes he needs at least 10%

[@foxernator]

It actually blew up in the US and Asia - Company is worth around $10m in 2020 lol

[@austinbux]

Theres been no activity on their social media for a long time and their web domain has expired. Any idea what happened to the business?

[@randomnetfiend]

@@austinbux 3 weeks after airing they were bankrupt. It was never gonna work.

[@user-lz7kq8ne9e]

​@Austin Bux they got a new domain name and their company is now worth $2 billion Peter was right

[@mikedennington8856]

Yet another subscription based business....

[@arjrocks]

There is a well liked comment on this video stating this company is now worth over $10m but this doesn't paint the full picture. If you google the company the first result that pops up states the company is valued at $10m according to seed cash. So nothing to do with actual sales. Moreover their online sales are 'temporarily unavailable', their instagram hasnt been updated in over a year and I've never seen or heard of their products before. Think Peter lost this one

[@jasperpike242]

what is this bloody Comp called ffs

[@orrbugger]

Why does Peter Jones wear that badge on his suit and have a branch in his pocket? Seems a bit cult like. Why has nobody picked up on this before? or to the coments get removed?

[@DJcyberslash]

It's a pocket square lol. Did you vote for Trump?

[@user-qh5zz7dy1h]

Imagine making tea from tea dust bags, lol commoners.

[@BenjaminGoose]

If you ever pass the warehouse building when Dragons' Den isn't on the air, you will sometimes hear the odd cry or see an appearance from Evan Davis pacing about the premises trying to come up with new puns for the next series. If he sees you, walk away.

[@adamlacey81]

Wow, you came up with that? Impressive.

[@randomnetfiend]

you keep on trying don't you.

[@kaj661]

Dear lord what a sad little life Jane

[@airtechregulators4037]

all Deborah Meaden is interested in is recycle and green i wounder how many of her start up business are all green

[@nigelwilliams9307]

T w a t s

[@scienceevolves4417]

Teawats 😅

[@portarooney2817]

Help

[@internet_userr]

I will... Not

[@dholaholics]

@@internet_userr hahaha 😂