$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Marc Weatherill from Toronto, ON, pitched Grobikes in Season 20, Episode 14, asking the Dragons for $400K for 20% of the company.
- Asked for$400K for 20%
- Valuation$2Mimplied by the ask
- OutcomeNo deal
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Manjit Minhas | No business, unit economics don't work | Out |
| Arlene Dickinson | Solving a problem that doesn't exist | Out |
| Wes Hall | No offer made, though defended founder from harsh criticism | Out |
| Brian Scudamore | Valuation doesn't make sense | Out |
| Michele Romanow | Scaling negative unit economics does not work | Out |
Marc, from Toronto, pitched GroBikes, a subscription service for kids' bicycles, seeking $400,000 for 20% of the company at a $2 million valuation. The service delivers a properly sized bike to a family and exchanges it for a bigger size as the child grows, with prices ranging from $130 a year for a balance bike to $235 a year for larger bikes; Marc had invested $140,000 and had 40 subscribers generating about $8,000 in revenue.
Manjit Minhas said the unit economics did not work given the cost of buying, maintaining, and delivering bikes relative to subscription revenue, and went out, as did Michele Romanow who said scaling negative unit economics only loses more money. Arlene Dickinson said the problem did not exist and went out, Brian Scudamore said the valuation did not make sense and went out, and Wes Hall also declined to make an offer, leaving the business with no deal.
Pitch details from CBC’s Dragons’ Den pitch page.
Grobikes today
- StatusOut of businessLast checked September 2026
Grobikes appears to have closed. Its products may no longer be available.