UGRAN Drive Safe Inc.

Jeri & Ryan Rodrigs
Ottawa, ON

The pitch

Jeri & Ryan Rodrigs from Ottawa, ON, pitched UGRAN Drive Safe Inc. in Season 12, Episode 15, asking the Dragons for $500K for 25% of the company.

Asked for$500K for 25%
Valuation$2Mimplied by the ask
OutcomeNo deal

Offers in the Den

Dragon	Offer	Result
Joe Mimran	Out, doubts the product solves the problem better than simply turning off a phone	Out
Manjit Minhas	Out, no plan to justify the $2,000,000 valuation	Out
Michael Wekerle	Out, valuation not reflected in reality of business	Out
Jim Treliving	Out, no sales to support valuation	Out
Michele Romanow	Out, no value established for real partnership	Out
Arlene Dickinson	Out, valuation too high to have a workable conversation	Out

Jeri Rodrigs and his 12-year-old son Ryan Rodrigs, of Ottawa, Ontario, asked for $500,000 for 25% of UGRAN Drive Safe Inc., a company behind a smartphone app that locks a driver's phone while driving but allows passenger functions, automatically silences and auto-responds to incoming texts, and permits calls via Bluetooth or headphones. The app, which has a patent on its implementation, had just been released on Google Play and the App Store the week before the pitch, making the company pre-revenue; the founders had invested about $225,000 in patents and software development and valued the company at $2,000,000.

All five Dragons declined to invest. Joe Mimran questioned whether the product solved the problem any better than simply turning off a phone, Manjit Minhas and Michael Wekerle felt there was no plan or track record to support the valuation, Jim Treliving and Michele Romanow said there were no sales to justify the number, and Arlene Dickinson said the valuation made it impossible to have a workable conversation. No deal was made.

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