Now Kiddimoto wins Dragons Den investment - ToyNews

Now Kiddimoto wins Dragons Den investment

Simon Booth secures a pair of Dragons and £75,000 for 30 per cent of his kids' balance bike company.
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Kiddimoto owner Simon Booth offered a ten per cent stake in his company on the BBC show, aired last night, in return for a £75,000 investment – valuing the Somerset firm at £750,000.

The entrepreneur caught the investors' attention when he revealed that the company turned over £490,000 in 2010. But the further revelation that only £30,000 of that figure was profit led to a numbers "grilling" from Deborah Meaden.

Duncan Bannatyne offered the full £75,000 for 30 per cent of the company, triple the equity proposed by Booth. Bannatyne also presented a second option – offering half the cash for 15 per cent.

New Dragon Hilary Devey stepped in to match the Scot’s offer and Booth accepted the proposal, winning the investment and the expertise of two Dragons.


Click here to watch Kiddimoto's Dragons Den apperance on iPlayer.

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After the show, Booth said: "Once I’d started getting a grilling, especially when Deborah started getting into the numbers, I started to feel like I didn’t know what I was on about.

"It was established that I was looking for not only an investment, I was looking for a friend. So Hilary and Duncan became my rich friends, if you like."

On its Twitter account, the firm said its website has been experiencing increased traffic, and that media requests had been 'rolling in' since the show aired.

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Booth has already been interviewed by BBC Radio Somerset.

Earlier in the series, the online toy retailer ThePresentClub.co.uk won a £60,000 investment in the Den.

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