Some fellow Waterloo entrepreneurs were on Dragon’s Den last night pitching their fitness/personal trainer app called PumpUp. They were asking for $100k at a $1MM valuation. I’m frustrated with how the episode that aired failed to explain the reasoning behind their (high?) valuation and how naive it made the founders and the judges seem naive when it comes to the high risk gamble that is early tech investing.
Check out their pitch (its the first one of the episode) and share your reaction.
A couple disclaimers: I’ve heard Phil pitch this before and we’ve had several conversations about the meat…
Co-founder @ Hive (YCS14 -www.hive.co)