$1Mfor 10%
Protein Candy
Valued at $10M
Marie-Helene David and Madeleine Larose-Tarabulsy from Quebec City, QC, pitched Myni in Season 17, Episode 4, asking the Dragons for $500K for 10% of the company.
| Dragon | Offer | Result |
|---|---|---|
| Robert Herjavec | Out - did not agree with using capital to buy land for a factory | Out |
| Arlene Dickinson | Out - felt it was too early given competition and market uncertainty | Out |
| Vincenzo Guzzo | $500,000 for 20% | Declined |
| Manjit Minhas | $500,000 for 15% | Accepted (joint with Michele Romanow, revised to 20% for two Dragons) |
| Michele Romanow | $500,000 for 15% | Accepted (joint with Manjit Minhas, revised to 20% for two Dragons) |
Marie-Hélène and Madeleine, founders of Myni from Quebec City, asked for $500,000 for 10% of their concentrated cleaning tablet company. Myni makes biodegradable cleaning tablets and powders that dissolve in water to create household cleaners, manufactured by the company itself in Quebec City, with an all-purpose cleaner selling for $2.99 and costing 15 cents to produce. The company made $750,000 in sales in its first year and $1.5 million in its second year, is projecting $4.5 million this year, and recently purchased land to build a new factory.
Robert Herjavec went out, disagreeing with the decision to buy land at this stage of growth, and Arlene Dickinson went out citing competitive uncertainty. Vincenzo Guzzo offered $500,000 for 20%, which was declined. Manjit Minhas and Michele Romanow each initially offered $500,000 for 15%, then combined into a joint offer of $500,000 for 20% (10% each), which the founders accepted.
Pitch details from CBC’s Dragons’ Den pitch page.
Myni is still operating and sells through its website.