The Future is Bamboo

Mathieu Simard and Naomie Berg
Sherbrooke, QC

The pitch

Mathieu Simard and Naomie Berg from Sherbrooke, QC, pitched The Future is Bamboo in Season 14, Episode 7, asking the Dragons for $100K for 10% of the company.

Asked for$100K for 10%
Valuation$1Mimplied by the ask
OutcomeDealwith Manjit Minhas
Final deal$100K for 15%valued at $667K

Offers in the Den

Dragon	Offer	Result
Vincenzo Guzzo	$100,000 for 30%	Declined
Manjit Minhas	$100,000 for 15%	Accepted
Jim Treliving	Would be a customer but not able to promote the business, out	Out
Lane Merrifield	Not an area of expertise, out	Out
Arlene Dickinson	Brand not strong enough to cut through competition, out	Out

Naomie and Matt, siblings from Sherbrooke, Quebec, asked for $100,000 for 10% of The Future is Bamboo, which sells bamboo straws, cutlery, and toothbrushes online and through more than 1,000 retail outlets. The company did $200,000 in sales last year and expected to reach $1 million this year, with an estimated $200,000 profit before tax. Products are manufactured in China, with the top-selling item costing 75 cents landed and wholesaling at $2.95, retailing at $4.49. Ownership is split 50% and 20% between the siblings and 30% held by their mother, who financed the company.

Vincenzo Guzzo offered $100,000 for 30%, saying he wanted to be respected for his investment. Manjit Minhas offered $100,000 for 15%, citing her network of 20,000 retail doors in North America. Jim Treliving, Lane Merrifield, and Arlene Dickinson all went out, citing concerns about brand strength and market competitiveness. The founders accepted Manjit Minhas's offer for the retail access it provided.

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