Dümmel announcement to grandmother of young founder |
“Dear grandma, your company is gone”
From the school desk to the executive floor!
These guys don’t have to worry about what to do after graduation: The students Johannes Baumgardt (19) and Valentin Steudte (19) made a powerful impression with their sovereign performance on Monday evening on the investment show “Die Höhle der Löwen” ( vox).
And they both did their homework! While they went to school in the morning, Johannes and Valentin worked on their “NextFolder” in the afternoon.
They had been working on an update of the ordinary ring binder since sixth grade. Their problem: “The rigid metal rings make it almost impossible to write comfortably in the binder. The rings just get in the way.”
So the two replaced the metal on the home 3D printer with flexible plastic rings that can give way when writing.
Above all, tech investor Carsten Maschmeyer (63) was enthusiastic about the young entrepreneurs, enthused: “I think it’s impressive how you present yourself.” And further: “I believe that you make many students, teachers and parents equally happy that you are successful. But I’m not the right investor for school supplies.”
Valentin Steudte (left) and Johannes Baumgardt present their innovative exercise book
Stupid: Nils Glagau (46) also got out with Maschmeyer, although the founders also inspired him. Your product, on the other hand, didn’t convince him as much – and he wasn’t alone. While all the lions were completely impressed by the young entrepreneurs’ pitch, most didn’t want to make any money.
Only one had sharpened the pencils from the first second: Investor Ralf Dümmel (55). But when he asked what the company structure behind “Next Folder” looks like, he got an answer that surprised even an experienced entrepreneur like him. Because the students were both minors when the company was founded, they were not yet allowed to sign any contracts.
Valentin: “My grandmother has until now 100 percent of the shares.”
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Dümmel deal with grandma’s announcement!
Dümmel: “I think your idea is really good and now I have to look into the camera and say: ‘Dear Grandma, your company is gone. From now on you have no more shares!”
Jury rating 1 with an asterisk, deal filed – Dümmel accepted the offer of the two. He received 30 percent of the company shares for 80,000 euros.
Valentin relieved after the pitch: “The suspense curve continued to rise. One lion after the other praised us, but got out. And then Ralf, the contract – our dream lion, that fits!”
BILD knows: The deal also came about after the show – and not only that: the two founders have meanwhile successfully completed their Abitur and are even dedicating themselves to other products.