Have you heard of Earcandi? Yeah, sounds interesting just like the product itself. Well, Dragon’s Den introduces us to various kinds of products, one of which was Earcandi.
We often feel agitated when the Earpbuds keep falling. Earcandi is the solution to this problem. The Earcandi inventors entered the Den and began twirling around on the floor, which demonstrates that moving continuously won’t make the earbuds fall.
Though it sounds quite moving, is it worth a secure investment? Walk through the article to know about it.
Quick Facts
| Founders name: | Lloyd Daley and Steven Freeman |
| Business details: | Moulding caps for earphones |
| Founded in: | 2015 |
| Location : | UK |
| Asking of Company: | £40,000 For 10% Equity |
| Accepted Deals: | No Deal |
| Dragon on board (Investors): | None |
| Dragons’ Den Episode: | Season 12 Episode 08 |
| Net Worth | $2 million |
| Business Status: | Not in Business |
| Last Updated: | Feb 29, 2024 |
| Social Media |
About the Founder
The product was initially created by Lloyd Daly at the age of 33 who was an avid jogger and was disgusted with earbuds that kept falling out. It is said that while Lloyd was developing the product and attempting to launch it, he faced redundancy and homelessness for two consecutive years as a result of losing his job. To save money and concentrate on the business he was passionate about, he used to shelter with his friends.
Stephen Freedman a 40-year-old man, who worked with an IT company, named PC Help Man, contributed to the expansion of Earcandi after reading an advertisement on Facebook.
Founding the Earcandi
Earcandi was launched initially in 2015. The medical-grade silicone polymer is used to make Earcandi, and when combined with a “fixer,” results in an “earplug” that is precisely molded to fit the ear. Mix the two components for a minute, then cautiously slice up the flexible “play-doh”-like material into two halves, and mold it into one portion around each earphone that is already placed in the ears.
The Earcandi mixture sets after about 10 minutes, and then two ear plugs will occur with your headphones embedded in them that are specifically sized to fit one’s ears. According to the company’s slogan, Earcandi enables you to do more of what brings you joy.
On Dragon’s Den
Lloyd made an immense effort to build his brand. Unfortunately, he didn’t make quite as much money here as he had intended. However, he received support from the New Enterprise Allowance, a government program.
Steven and Lloyd decided to present a business plan for Dragons’ Den. For a 10% equity investment in Earcandi, they hoped to receive £40,000. To persuade the dragons, they mentioned their collaboration with the DJ and an F3 race car driver.
Despite being startled by the branding, the dragons weren’t completely manipulated by their idea. Gradually, each dragon affirmed that they are not willing to invest.
After Dragon’s Den
Though Earcandi was rejected by the Dragons it still received fame in the market. They had to work hard to meet up with demand after seeing an overnight rise in their orders and website visitors. One dragon even tweeted that they desired the owners could return to the event.
Luck was not in their favor and the company regrettably dissolved in November 2016. Though the company’s net worth was over $2 million, Lloyd’s Earcandi failed to last.