Next up is Holmfirth-based tech
entrepreneur Martyn Gould,
who has a lot riding on his trip
to the Den.
Today is huge for us and our company
because we’ve worked really hard
for the last two years,
to build something that’s great
but we’ve recognised that we need
Martyn’s decided that to win the
Dragons over, honesty is the best policy.
I’m going to be transparent,
I’m going to be friendly,
and, hopefully, when I get back in that lift,
I’ll have a big smile on my face!
Hi, Dragons. My name’s Martyn Gould,
I’m the CEO of Yboo.
I’m here today to ask for an
investment of £250,000
for a 2.5% equity share in our
Dragons, did you know that in the UK
every single year,
consumers overpay for mobile phone
They don’t know what they use,
so they don’t know what to buy
and the market is deliberately
We made Yboo to solve that
One, download Yboo.
Two, use your smartphone as
Three, sit back and wait for Yboo to
match you to a deal
that’s best for you.
Not only do we match you on price,
but we also match you on
signal strength and we’re ideally
placed to scale in the UK
but we need you guys onboard
to help us do that quicker.
Look forward to receiving any
comments about the product.
An app that tracks your call and
data usage to recommend the best
mobile phone deals is the offering
from Yorkshireman Martyn Gould.
He’s asking for a sizeable £250,000
for a 2.5% share
in his business.
Sara Davies is keen to know more
about Martyn’s experience
in the mobile phone zone.
You are from the industry?
We’ve been in the telecommunications
industry for 20 years.
I was one of the first employees at
Cellnet when it was analogue,
and the networks know us.
And do they love our team and our
You’ve just gone in, found a few of
the best people,
put the super-duper, awesome team
We’ve built a team to solve a real
problem for consumers
and mobile networks, and we’ve got
the foundation to grow.
And I do believe in it because I’ve
spent 14 months with no salary,
no income, spending my savings to
launch this service.
That’s how much I believe in it.
Martyn’s passion and his impressive
credentials seem to be going
down well with Sara Davies.
Peter Jones made his first millions
How will Martyn fare being quizzed
by an expert?
You said the selling point is the
fact that it will tell you
the coverage where you live…
..and the best network for
How do you get that information?
So, we crowdsource it from users
and we know that people
have their mobile phone with them
all the time.
This is from our own systems and our
And how many users do you have?
So, to date, we’ve had 40,000 people
that have downloaded our app.
And how many people in the UK have a
So, there’s 60 million people that
have a consumer connection.
60 million people have a connection?
And yet 40,000 people tell you where
the coverage is?
So, I’m going to go on your site.
I bet, and I put my postcode in,
you’re not going to know
whether the coverage is good for me
So, if we don’t know, we’ll tell you
that we don’t know.
We’re completely transparent and
we’ll tell you…
So, I get a message back to say,
“I’m sorry, I just don’t know it”?
As we scale in the UK, we’ll have
more detailed crowdsourcing
information and, hopefully…
Well, you won’t get it –
that is my point.
You’d be far better to utilise…
..an average network coverage map.
I… I think we’ve made the right
decision in not using operator maps
and being independent of every
single mobile network.
The operator maps are static, they
take no account of population.
I totally agree with you,
but you’ve got 40,000 people
out of a population of 60 million.
Martyn’s failure to embrace
all the data available
to improve his service signals
trouble with Peter Jones.
Will he get a better reception from
on the subject of the company’s
How much money have you spent
So, we’ve spent about…
And that’s across the whole of our
So, that’s on technology
development, patents, operations,
sales, people, premises.
OK, and marketing?
You see, I think £300,000…
..I’d have expected, possibly,
to have heard of you.
And £300,000 for 40,000 sign-ups.
Does that sound like a good return
The reason we’re here today is
because we need your experience
to grow quicker.
So, tell me what happens on day two.
what are you going to do with it?
So, we’re going to use that money
to launch internationally.
What is the rush to go
when you haven’t even tested the
market fully here?
I think there’s a huge desire to go
because the product’s portable.
One of our key target areas
Because of the geographic landmass,
there’s a real problem
with signal strength out there.
..you know, sometimes people can’t
get right what’s in front of them.
Yeah. They’ve got expectations to go
We think that our app has the
potential to scale internationally,
and, you know, that’s the return
I mean, it’s like saying, you know,
you can’t get UK right,
maybe there’s a softer target
I think you’re delusional.
Martyn’s plans for world domination
haven’t gone down well
with a wound-up Touker Suleyman.
And it looks like he’s not off the
as Peter Jones wants more
information on the company coffers.
What has been your last year’s
I’m assuming this is going to be a
very, very big number
because you valued your business
today at ten million.
It’s not as big as we want it to be
but we’re well-placed to scale.
In the millions,
what’s your turnover been?
So, for the financial year ’18-19,
we’re going to post revenue
of around £50-60,000.
..sitting on my chair.
OK, well, that’s… I wasn’t sort of
Wow, how do you go from there?
Do you want to know why we’ve
arrived at the valuation,
would that help?
No, I don’t think you could put
any level of common sense
to that valuation.
Peter might not want to know,
but I do…
..because I’m fascinated!
I think the other thing, Deborah,
that supports our valuation –
less than 12 months ago, one of the
major price comparison sites
tried to buy us.
The valuation that they gave us at
that time was £5 million.
Is it possible to see that offer?
Yeah, I’ve got it here. Oh, right.
Would you like to see it?
All right. Yeah, please, love to see
You said that you received an offer
for £5 million for the company.
Here’s the reality.
..1.5 million of debt,
650 of equity,
only to receive an offer from this
..of two million, and they would
have invested two million
on the basis of the fact that the
company’s already got
£650,000 of cash.
So, the offer that you really
had was not five million.
To be clear, sorry, I probably
what happened, by accident.
Well, I’m not sure…
The debt facility was after that
We did not have that £1.5 million
debt facility on the table
when that offer arrived.
But you can’t use that as a
suggestion that your company,
a year ago, was worth five million.
Your company was worth significantly
less than that,
and the offer shows that in writing.
So sadly, I’m not going to invest
and say that I’m out.
Tech tycoon Peter Jones dismisses
Martyn’s valuation of his company
and is the first to exit
And the flaws in Martyn’s finances
haven’t gone down well
with Deborah Meaden either.
I’m not happy about somebody
standing in the Den,
who is misrepresenting an offer to
the level at which this offer
has been misrepresented.
So, to get that letter, I presented
to their board,
their complete UK operating board.
There’s things and conversations
behind that letter
which makes me believe it’s
That makes it worse.
This is clearly just an indicative
You’re either very naive or you
think I’m very naive.
Well, it must be me.
Well, either of those scenarios
are not one
that I particularly want
to be part of.
So, I won’t be investing.
Martyn, I think you’re in a very
but you’re an optimist.
What would be even better is if
you’re a realist. OK.
And I think it’s a good piece
of technology, actually.
But really, the value of this
technology only comes in
when you’ve got about five million
users and you can get
the accurate data that you need.
For me, it’s not an investment
Good luck. I’m out.
So, Martyn, you’re not a big
You’re doing £50,000 a year
A little market stall that does
more than that.
So, you’ve got a valuation,
which is probably worth no more
than a million.
As it stands today, you think
a Dragon will come along
and save you.
One thing’s for sure – I’m not!
That thorny issue of Martyn’s
valuation just won’t go away,
as Touker Suleyman becomes the
fourth Dragon to hang up
on the investment proposition.
But does Sara Davies think she’s
spotted a kindred spirit
in the entrepreneur?
Do you know what’s funny, Martyn,
is I’m a salesperson.
That’s what I do all day, every day,
day in, day out.
And I’m watching you and I’m trying
to read your body language
as you’re going because it takes
one to know one.
I think you’re a great sales guy.
But I actually think you are
believing a lot
of what’s in that letter.
And that for me is what’s
And that’s why I’m out.
Good luck. Cheers, Martyn.
Thank you, thank you.
So, that’s it for Martyn.
The confident entrepreneur remained
cool under pressure,
but in the end,
his company price tag
proved a hot spot he just couldn’t
get away from.
Thank goodness you asked for that!
So, that letter,
in black and white, says…
..we’ll buy your company for a lot
and after two years after we’ve put
more of our money into your company,
we’ll give you more money.
He’s a good salesman.
I think the Dragons have missed a
I hope I bump into them all in a
couple of years,
and I can buy them a drink.