They pitched the idea of the company – ‘Lost My Name’, which produces personalised children’s books – to the Dragons. Most turned them down, except for Piers Linney who leapt at the chance to put his stake in the company.
In a blog post, founder David Cadji-Newby, who used to write for comedy television shows, recounts the relatively unglamorous process which lead to the valuation.
He writes: “Me and [co-founder Asi Sharabi] were the second to go on. After so many hours of hanging about, it all seemed to happen very fast. We walked in, said ‘hello’ and did our pitch while all the Dragons stared at us like wed broken into their homes and stolen heirlooms, and were there to say sorry.”
David recounts the cold reception he received from everyone – except Linney – and remembers the somewhat stressful experience of discussing shares and equity when no doubt their previous investors were tuning in.
Lost My Name allows customers to input their specified name i.e. a child’s, which then changes the nature of the story. For example, in their titular ‘Lost My Name’ book, a child loses his or her name and must find all the letters, a story which will morph depending on the name.
The books have already found success around the globe, 26,000 books sold in 60 countries, according to the Telegraph.
The business is technology heavy: requiring billions of lines according to Cadij-Newby. No wonder, then, it made a good match for Linney who founded his own technology startup ‘Oursourcery’ for companies looking to outsource cloud requirements.