A week ago, I wrote an article about how the Dragon’s Den, after offering $250,000 for a 32.5% stake in Canadian startup NoteWagon, didn’t end up investing in the company at all.
Due dilligence destroyed the deal, but founder Saif Altimimi claimed he flew down to Silicon Valley immediately after and bagged a cool million in fundraising. The story as a whole garnered a lot of attention, going so far as to have former Dragon Brett Wilson offer his thoughts.
Last night, NoteWagon posted on their blog an official response to the drama, titled “After the Dragons.” It’s short but interesting.
In dealing with Dragons someone’s always got to get burnt right? Wrong.
While the Dragons may have called “due diligence” on the NoteWagon team during negotiations, NoteWagon isn’t fazed in the slightest.
A peculiar bit of feather-puffing there, depending on how you read it—seems NoteWagon is flushing a bit and trying to move on from the slip-up in an awkward, high-school-teenager-bravado manner.
And, as it turns out, that cool million Saif bragged about may not quite exist yet. The CEO is quoted as saying the startup is “investigating” some “really good deals,” whatever that means—and that they look “promising.” Suspiciously vague, no? What happened to guaranteed, specific numbers?
It will be interesting to see how much NoteWagon does raise. For now, avoid the Den.