While purchasing online, users frequently abandon the payment page to search the website for coupon codes. If they cannot find any, they can turn to Google, where they might find some phony and unredeemable codes.
For the consumer, this is laborious and annoying and for the seller, it interferes with the sales flow. But there is a workaround. Here, Pouch enters!
After appearing on the Dragon’sDen, their exposure raised a peak. Indeed an interesting pitch so far. Let’s find out why!
Quick Facts
| Founders name: | Ben Corrigan, Jonny Plein |
| Business details: | A free browser extension that looks to save web users time and money on voucher codes. |
| Founded in: | 2016 |
| Location : | UK |
| Asking of Company: | £75,000 For 15% Equity |
| Accepted Deals: | No Deal |
| Dragons on board (Investors): | None |
| Dragon’s Den Episode: | Season 15 Episode 01 |
| Net Worth: | £10 million |
| Business Status: | Active |
| Last Updated: | Mar 18, 2024 |
| Social Media: | Facebook |
About the Founder
According to Jonny Plein’s account of the events, Corrigan created the concept for the Pouch, and Plein is still engaged with the company presently. Vikram Simha, a third co-owner of Pouch, is in charge of the item’s scientific guidance, growth, and manufacturing.
Despite being new businesspeople, Corrigan and Plein show the expertise to convert concepts into profitable ventures.
Founding the Pouch
According to research by Corrigan and Plein, 840 million individuals in England look for vouchers for shopping online each year.
On more than 3000 sites, Pouch, a no-cost browser plugin, incorporates vouchers into a shopping basket. Google Chrome, Firefox, and Edge all support it. Pouch not only tackles issues for consumers but also a major issue for merchants.
Dragon’s Den Appearance
Ben Corrigan and Jonny Plein proudly approached the Den and explained why they created Pouch. The offer, presented by Plein was 15% of Pouch for a $95,329.87 stake.
Whatever Corrigan and Plein were asked, they had assured responses that demonstrated a thorough understanding of the Internet retail industry.
Jones made the first proposal of $95,329.87 but for 25% after expressing his enthusiasm and expertise in the company.
Meaden said she was not very interested in the technical aspect of the company but aware of the situation from the standpoint of the customer. She finally outbid Jones when she proposed 20% of the company.
Suleyman promised 10% in exchange for 50% of the capital, but he also included five companies that would utilize the Pouch. Suleyman’s proposal was accepted by Tej Lalvani.
Campbell liked the concept and what they accomplished to render their startup successful. She gave exactly what Corrigan and Plein requested.
Since the beginning of the show’s airing, Pouch has become only the third business to get funding offers from all five Dragons.
Plein and Corrigan departed for an intimate conversation. Plein responded with a second offer that was split evenly amongst Suleyman, Lalvani, and Campbell: 18% for the stake.
Suleyman was the first Dragon to sign on his response after a protracted wait during which Jones grimaced. Lalvani was the next to concur, followed by Campbell. Pouch had a contract!
After Dragon’s Den
Their audience increased dramatically instantly from 5,000 to 50,000 following the Pouch episode debuted. The company was named one of the top 100 intriguing start-ups in England in 2018.
Global Savings Group purchased Pouch in 2019. Pouch’s growth is largely due to its constant inclusion of novel functions and shops. Their audience reached 200,000 regular weekly customers in 2020.
The company achieved a current projected value of more than $1,27,087.00 million.