Rehook, the cycling accessory company, has a net worth of PS500,000, and the company’s founder, Wayne Davies, has quit his day job to focus on the venture full-time. While Peter Jones offered to invest the full PS50,000 for a thirty percent stake in Rehook, he later turned down a better offer from Tej Lalvani and Sara Davies. As a result, Wayne settled on a PS50k deal from Debra Meaden for a quarter of his business. The other two women were verbally and visibly disappointed but were happy with the final decision.
Wayne Taylor, a graduate of Teesside University, has built a small company from scratch to make a beneficial product for cyclists. His cycling accessory, which costs less than $20, allows cyclists too quickly and easily re-seat a chain without getting dirty. The device was first conceived after he accidentally dropped his chain on his way to work and walked into a meeting with oil-stained hands and a soiled shirt.After a successful pitch, he chose Dragon Deborah Meaden to invest 25% of the company, allowing him to sell Rehook to potential investors.