Phazon

Christian Houle, from Montreal, QC, asked for $500,000 for 10% of Phazon, a company making truly wireless earbuds designed for a universal fit without inserts, priced to sell at $240 per pair with a manufacturing cost of $50. Christian Houle, a former professional football player with the Saskatchewan Roughriders, developed the product with an industrial designer, raised over $2.2 million through a 60-day crowdfunding campaign, and said the earbuds are waterproof and can be worn while swimming. The company needed working capital to fund retail unit production and cash flow for vendors and staff, competing against players like Bragi and Earin.

Michael Wekerle offered $500,000 for 20%, and Jim Treliving countered with $500,000 for 15%, later inviting Michael Wekerle to split it. Manjit Minhas offered to buy the entire company outright for $4,000,000, which Christian Houle declined. Joe Mimran did not make an offer. Christian Houle countered by inviting all Dragons in at the 15% valuation for four times the value, and ultimately accepted a joint offer of $500,000 for 20% from Michael Wekerle, Jim Treliving, Manjit Minhas and Michele Romanow.

Phazon is still operating and sells through its website.