After agreement on “Lion’s Den” |
Hyrise founders let million dollar deal burst
A crazy negotiation thriller in the lion’s den – completely for naught!
On Monday evening it briefly looked as if the founders Dominic Blank (35) and Michael Land (34) had thoroughly gambled away. Ultimately, they got their deal, but a little later they didn’t want it anymore.
With the “Hyrise Academy” training platform, the Berlin start-up wants to enable lateral entry as a salesperson in the digital industry. They don’t select based on degrees, but based on personality. If everything fits, the applicants will receive a mix of online courses and coaching and will be placed with interested companies, according to the founders.
The first offer from the founders: 500,000 euros for ten percent of the start-up – an overall rating of five million! Pretty naughty…
Entrepreneur Carsten Maschmeyer was disappointed by the founders of the “Hyrise Academy”.
But not all lions were deterred by the high sum. Especially for tech investors Carsten Maschmeyer (63) and QVC Queen Judith Williams (51), the topic of sales is very emotional.
Williams, who herself went into sales as a career changer: “Your topic inspires me completely.” The price, on the other hand, less so. Her counter offer: the required half a million – but for 15 percent of the company shares.
Lioness Judith Williams was enthusiastic about the Berlin start-up
Still not enough for Maschmeyer. The entrepreneur has already helped set up a sales company himself, offered a large package of press, network and expertise, but asked for shares in excess of 15 percent. His wish: “Make me an offer.”
But he had certainly imagined THAT differently. After a brief consultation, the two founders made a counter-offer that the lion didn’t like at all. Instead of going over the 15 percent mark, they only offered twelve percent.
Maschmeyer disappointed: “I think I failed to explain to you what I can do for you.” He is convinced: “From the handshake you are worth three to four times as much.”
The founders rated their training platform “Hyrise Academy” very highly
Next round of advice in the Knallhart negotiation. But while the founders were conferring, Maschmeyer and Williams also put their heads together.
Did the founders gamble too high?
Not really! Because the two lions came around the corner with a combined offer: 750,000 euros and concentrated, joint expertise for 20 percent. That sat! With so much know-how, even Dominic and Michael didn’t want to renegotiate – deal!
At least for now…
That’s how it went after the deal
That doesn’t happen often either – after the show, the founders of all people didn’t feel like the lions anymore. The company valuation of three million euros after the offer was simply too low for them.
“ start-up scene‘ they said they had changed their business model just prior to taping the show. Instead of applicants, companies now pay for the “Hyrise” service. Apparently with success.
“Shortly after recording the show, we were already cash flow positive, so we were no longer dependent on money,” says founder Dominic Blank. Currently, 50 to 60 career changers would be retrained.
They reject accusations that they actually didn’t want to have a deal at all.