Dragon's Den reject now worth £200 million

By Aimee Shaw

The Tangle Teezer is worth how much?
The Tangle Teezer is worth how much?

Tangle Teezer CEO Shaun Pulfrey will be glad to know that he is almost five times richer than the UK Dragon Den's judge who turned his idea away.

The now £200 million (NZD$370 million) business is set for a hefty sale, despite originally being told by a judge that his idea was "hair-brained".

In 2007 Pulfrey appeared on BBC's hit show Dragon's Den with his sights set on bringing his product to the global consumer market.

He was told by UK Dragon Den judges at the time, Deborah Meaden, Theo Paphitis, Peter Jones, Duncan Bannatyne and James Caan that his idea was not impressive.

Jones said the idea was a "hair-brained" while Caan called it "a waste of time" and Meaden a "horse brush". They missed the opportunity to get 15 per cent of his company for an £80,000 investment.

Nine years after being rejected, Pulfrey has been overwhelmed with success and is now exporting his hair brushes to 60 countries world - 13 every minute - and has won a number of celebrity endorsements.

Pulfrey said he was not discouraged by the judges' comments, the Daily Mail reported.

"I wasn't disappointed about not getting the money because I can get that from a bank. But I wanted a Dragon to take it to the consumer global market and I didn't feel they heard me out," Pulfrey said.

If the hefty sale of Tangle Teezer goes through, the company will make history as one of the 'most successful failure' in the BBC programme's history.

Tangle Teezer was originally reportedly set to sell for £100 million, however, following Britain's decision to leave the European Union, investors could now be prepared to pay double.

The company has recieved multiple takeover offers up to £200 million. It is understood the auction process is in its final stages.

- NZ Herald

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