OneSet

Amad Abdullah and Heather Abdullah, of Waterloo, Ontario, pitched OneSet, a mobile app for sharing 15-second workout videos, asking for $50,000 for 10% of the company, at a $500,000 valuation. Trainers can sell curated workout playlists to users for $1.99 to $4.99, with the company taking a 5% commission, compared to online personal training that typically costs $50 to $250. The app had launched five weeks earlier, already had 5,000 downloads and 10,000 followers gained in one month, was pre-revenue, cost about $1,600 to build, and the founders projected $120,000 in revenue and one million users within a year.

Jim Treliving went out, saying the founders needed more capital than $50,000 to survive while building the business. Michele Romanow, Michael Wekerle, Manjit Minhas and Joe Mimran all made offers, with Michael Wekerle asking for 30% and a two-year commitment and Joe Mimran offering a joint deal with Michele Romanow for 35%. The founders countered by asking all four Dragons to combine for 15%, then settled on a joint deal with all four Dragons for $50,000 for 20%, which was accepted.

OneSet is still operating and sells through its website.