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Energy switch firm wins record Dragons' Den deal | Energy switch firm wins record Dragons' Den deal |
(2 days later) | |
The founders of an energy switching service are "delighted" after securing what has been described as the best deal in the history of Dragons' Den. | The founders of an energy switching service are "delighted" after securing what has been described as the best deal in the history of Dragons' Den. |
Henry de Zoete and Will Hodson, co-founders of Look After My Bills, received offers from all five Dragons on the BBC show. | Henry de Zoete and Will Hodson, co-founders of Look After My Bills, received offers from all five Dragons on the BBC show. |
They ended up selling just 3% of their business for £120,000. | They ended up selling just 3% of their business for £120,000. |
The firm aims to find the best gas and electricity deals and switches people automatically when their deal runs out. | |
Look After My Bills also plans to offer broadband deals by the end of the year and other services such as car insurance in the future. | Look After My Bills also plans to offer broadband deals by the end of the year and other services such as car insurance in the future. |
After considering the offers they received, the duo accepted investment from two Dragons, Tej Lalvani and Jenny Campbell. | After considering the offers they received, the duo accepted investment from two Dragons, Tej Lalvani and Jenny Campbell. |
Mr Hodson said: "We're absolutely delighted to have got a deal done with two brilliant Dragons, Jenny and Tej, who we know will massively help the business. | Mr Hodson said: "We're absolutely delighted to have got a deal done with two brilliant Dragons, Jenny and Tej, who we know will massively help the business. |
"This year has seen all Britain's biggest energy suppliers increase their prices, some twice, and the Dragons are backing a company that protects people against rip-off pricing forever." | "This year has seen all Britain's biggest energy suppliers increase their prices, some twice, and the Dragons are backing a company that protects people against rip-off pricing forever." |
Dragons' Den has been running on BBC television since 2005 and is now in its 16th series. | Dragons' Den has been running on BBC television since 2005 and is now in its 16th series. |
Previously, the smallest amount of equity changing hands on the show was a 5% stake in publishing business Lost My Name in 2005, which was snapped up by former Dragon Piers Linney for £100,000. | Previously, the smallest amount of equity changing hands on the show was a 5% stake in publishing business Lost My Name in 2005, which was snapped up by former Dragon Piers Linney for £100,000. |
Lost My Name has since changed its name to Wonderbly and has sold more than 2.7 million of its personalised children's picture books. | Lost My Name has since changed its name to Wonderbly and has sold more than 2.7 million of its personalised children's picture books. |
Mr Hodson and Mr de Zoete met at Bristol University. Mr de Zoete is a former special adviser at the Department for Education, while Mr Hodson started his career at Deloitte before focusing on consumer issues with research cooperative Ethical Consumer. | Mr Hodson and Mr de Zoete met at Bristol University. Mr de Zoete is a former special adviser at the Department for Education, while Mr Hodson started his career at Deloitte before focusing on consumer issues with research cooperative Ethical Consumer. |
Watch the episode of Dragons Den here. | Watch the episode of Dragons Den here. |
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