How Dragons’ Den’s greatest flop misplaced an eye-watering £200k inside three years in pricey catastrophe for Theo Paphitis

While Dragons’ Den has seen the rise of many success stories, some past participants have faced crushing lows.

Since the show’s debut in 2005, there has been a revolving door of entrepreneurs and investors alike. 

Gaming Alerts Limited – comprising Emmie Matthews and Ed Stevens – entered the Den back in 2007.

The pair pitched their affiliate marketing company, specilising in promoting casino, online bingo and poker platforms.

Emmie explained to the panel: ‘What our unique selling point is in our name, gaming alerts, users can download

‘From any of our five websites. Their desktop is completely free, and they can opt in to receive poker, casino, bingo or sports betting alerts.’

Initially, Emmie and Ed had hoped for a £200,000 investment in exchange for 10% of the business.

They walked away with the £200,000 – courtesy of then-Dragon Theo Paphitis – but for a 30% stake.

Theo, 66, who appeared on the programme between 2005 to 2012, was convinced to invest based on his wife’s online bingo habits.

The Evening Standard wrote at the time: ‘Yes, they’re all extremely wealthy. Nevertheless, £200,000 is £200,000. 

‘That’s a lot of cash to lose. Big respect to Mr Paphitis.’

Following the investment, Emmie told Worcester News: ‘The experience was terrifying, we got to the studio at 7am and were put in a little room with the other contestants. 

‘We were the last to be seen, so by [4pm] I was desperate for them to see us.

‘Some of the dragons thought we had over-valued our business, but Theo saw the value of online and the gambling industry.’

Theo added: ‘I think the whole concept of proactively alerting users to the best bonuses and offers is truly revolutionary and Ed and Emmie have really brought the idea to life.’

By 2008, Ed confirmed to Bingo News that they were pivoting away from the UK market to focus on other areas in Europe – namely, Spain.

However, just three years later, the company ultimately folded and later officially dissolved in September 2011.

In 2014, Emmie revealed to Casino International that she was ‘a board director at MC&C Media – Jack Media merged with MC&C Media.’

And according to her LinkedIn she has been the founder and adviser of Faust House since 2015 and describes herself as an ‘experience exited entrepeneur’.

It comes as two entrepreneurs who appeared on Dragons’ Den have raked in an eye-watering £11million just one year after bagging a £75k investment on the BBC show. 

Practicing UK veterinarian Dr Guy Sandelowsky and co-founder Shiv Sivakumar appeared on the programme in February last year to ask for £75k for 1 per cent of their business pet health brand Omni. 

The pair impressed Steven Bartlett and Deborah Meaden and managed to get their hands on the money they asked for, but had to give up two and a half per cent of their company.

Since taking part in the BBC show, the business partners – who founded Omni six year sago – have gone from strength to strength.

According to Metro, Omni has gone on to add 100,000 new customers since their stint on the programme and made £8.4 million in sales. 

Prior to that, in 2024, they made £2.7 million, meanwhile in £1.2 million in 2023.

Omni has become a popular brand within the industry and now boasts an impressive 28.3k followers on Instagram. 

The brand offer supplements for problems such as irritated skin, bladder care and joints and mobility. 

Dry food, wet food, treats, dental sticks and calming diffusers are also available to buy. 

Last year the contestants revealed to the Daily Mail their top tips to help others get their businesses on the show.  

The entrepreneurs launched Omni after witnessing numerous cases of preventable, nutrition-related illnesses in pets, particularly during the pet boom throughout the COVID-19 pandemic, with Dr Guy estimating that he saw 30 instances daily.

The business, which makes sustainable pet food and supplements and is currently working to produce an Ozempic-style medication for overweight dogs, has witnessed remarkable growth since its launch in 2021, achieving £2.7 million in sales in 2024.

Perhaps the biggest highlight for Dr Guy and Shiv, though, who have watched Dragon’s Den throughout their childhood and into adult life, is securing investments from Deborah and Steven, who, as pet owners, saw a promising future for Omni.

However, it wasn’t easy for the founders to win their way through the Dragon’s Den application process, and it took them three attempts to successfully land a chance to pitch to the Dragons’.

Dragons’ Den airs on BBC One and is available to stream on iPlayer.