Dragonfly Wingman

Mike Dunlop
King, ON

The pitch

Mike Dunlop from King, ON, pitched Dragonfly Wingman in Season 18, Episode 6, asking the Dragons for $100K for 20% of the company.

Asked for$100K for 20%
Valuation$500Kimplied by the ask
OutcomeDealwith Arlene Dickinson, Michele Romanow, Manjit Minhas, Wes Hall and Vincenzo Guzzo
Final deal$100K for 30%valued at $333K

Offers in the Den

Dragon	Offer	Result
Wes Hall	Joined the joint offer of $100,000 for 30%	Accepted
Manjit Minhas	Joined the joint offer of $100,000 for 30%	Accepted
Arlene Dickinson	$20,000 of the $100,000 for 30% total if all Dragons join in equally at 6% each	Accepted
Michele Romanow	Joined the joint offer of $100,000 for 30%	Accepted
Vincenzo Guzzo	Joined the joint offer of $100,000 for 30%	Accepted

Mike Dunlop, from King, Ontario, asked for $100,000 for 20% of his business, the Dragonfly Wingman, a hat-mounted deer and horsefly repellent that uses a dragonfly decoy to scare off the visual-hunting pests, replacing the need for DEET-based sprays. The product has sold 130,000 units since 2018 for about $750,000 in gross sales, costs just under $1 to make and retails for $12 to $14, is sold in about 600 stores including Lee Valley Tools and Canadian Tire, and the founder has invested under $10,000 to date while netting around $200,000 in profit; he was seeking investment to develop three patent-pending spin-off products.

Arlene Dickinson proposed that all five Dragons join together, each taking 6% equity for a combined $100,000 for 30%, with her personally contributing $20,000. Wes Hall, Manjit Minhas, Michele Romanow and Vincenzo Guzzo all agreed to join the joint offer, and Mike Dunlop accepted the full panel deal.

Pitch details from CBC’s Dragons’ Den pitch page.