Dragons Den: Dragons Want The iTeddy!
Imran Hakim was seen approaching the Dragons last night asking for Â£140,000 for a 15% share of iTeddy. Imran has designed a cuddly teddy bear that contains an MP4 player inside, that will play cartoons and read bedtime stories to children.
Although Imran had yet to obtain a patent, both Theo Paphitis and Peter Jones saw an opportunity too good to miss and offered Imran all the money for 22.5% each.
After failing to get a better deal from Richard Farleigh or Deborah Meaden due to his cuurent lack of patent, Imran managed to talk Theo and Peter down to Â£70,000 for 20% of iTeddy. A good deal I think.