July 21, 2017
Steve Smith made history on the Dragons’ Den recently, after all the dragons on the show bid against each other for his handy invention, the trueCall, which will stop nuisance phone calls at home.
In the end, Smith’s invention was purchased on the July 15th taping of the show, by Peter Jones for a whopping £100,000.
In return, Smith also received a 12.5% stake which he plans to use to invest in further development and research.
Smith, who hails from the South West Richmond corner of London, said that he was astounded at the way the Dragons were fighting for the investment.
He added that they realized the market potential due to the fact that most people find themselves assaulted with thousands of calls from various sources such as telemarketers, silent calls, recorded message calls, and others.
Smith went on to say that his product will sell because it offers a solution to the problem by blocking the calls so that people can rest in peace at home.
He also said that he will be glad to work with Jones, because he was looking for support from just one Dragon, but due to the competition over the product he was able to get an excellent deal.
Jones was a young entrepreneur who experienced the up and downs of the UK market until he finally gained respect as a member of Siemens Nixdorf, where he was responsible for running the computer business in the UK.