Everybody hates a queue of customer service calls, right? With WeQ4U Matt King thought that he had the answer to this.
To flesh out his idea, he did require financial assistance, which brought him in front of the five dragons. Did he succeed in winning a dragon’s approval? Walk through the article to know.
Quick Facts
| Founders name: | Matt King |
| Business details: | App setting callbacks from call centers reducing waiting times |
| Founded in: | 2004 |
| Location : | UK |
| Asking of Company: | £150,000 For 1% Equity |
| Accepted Deals: | No Deal |
| Dragon on board (Investors): | None |
| Dragons’ Den Episode: | Season 10 Episode 07 |
| Net Worth | £910,000 |
| Business Status: | Active |
| Last Updated: | Feb 24, 2024 |
| Social Media | Instagram |
About the Founder
Matt King was the brainchild behind the creation of WeQ4U. He was an Oxford-educated physicist, according to Yhponline.com. He aided in his endeavor through his prior work experience at organizations including Logica and IBM. He has also spent a few years working on start-up initiatives in San Francisco.
His first concept was a web queue page. The idea struck his mind after waiting in line for hours to get passes to a concert in 2004. The concept developed, and he broadened it to include customer service problems. It took a while for his ideas to be implemented because some of them required more sophisticated technology.
Founding WeQ4u
Both consumers and organizations can benefit from the solutions provided by WeQ4U. Customers can download the WeQ4U app on their iOS or Android devices. You don’t have to wait and hold the call. Once you’re in a line when you call a 01, 02, 03, or 08 numbers in the UK.
When you press an icon, the app will place your call in a queue on behalf of you and reconnect the connection once you can speak with an agent. Users can save as much as 45p per minute, and the delay is eliminated. Nearly any English call center can benefit from this app, which is free. The app received over 10,000 downloads in its first year.
This company also provides businesses with a service called WeQ4U 4 Business. This enables them to increase client fulfillment by cutting down on lines. The heavy source of income of the company is from the WeQ4U 4 part of the business, which is managed by Orderly Telecoms Ltd.
Dragon’s Den Appearance
Matt debuted the Dragons’ Den in October 2012, episode 7 of Season 10. He requested $191546, but all he offered was a 1% stock interest. He was confident in his ability to ask for a high sum in exchange for a tiny percentage because he believed his business was already successful. He had agreements with numerous companies that used the WeQ4U companies, guaranteeing continual income.
The dragons had doubts about placing a company’s value at $191546 when its first year’s gross profit was barely $51081. The viability of the WeQ4U business proposition was another issue. The dragons believed Matt wasn’t being reasonable, and wasn’t using realistic figures. The fellow investors thought he might have been making fun of them with his absurd request, which caused tension in the room.
The lack of dragon Investment became very apparent, and Matt left after thanking them for “almost listening.” However, the firm must have benefited from the exposure to the program. The app climbed 200 spots in the list of the most downloaded iPhone apps (based in the UK) in the week after the premiere of the Dragons’ Den television program.
After Dragon’s Den
The WeQ4U enterprise is still operating, and its website is constantly updated with information about app improvements and responses to consumer questions. Awards like the Real Business Future 50 People’s Champion and 2012 Wonga.com have helped them to improve their profile.
As of 2024, the company has an estimated wealth of about 1.28 Million USD.