mycellmyterms.com? - from dragon's den

[simms]

So I was watching Dragon's Den on CBC: http://www.cbc.ca/dragonsden/video.html

S4E4, last section, has this company where you write down your own cell terms. Rogers, Bell, Telus bid for your business.

Anyone have experience with them? I signed up but I didn't give them my postal code (since that's what they need to change/access your contract).

edit: So I messed with the settings and said I wanted an offer in 48 hours.. I immediately got a plan that was worse than retention deals and worse than what I've got.

[haisam10]

edit: So I messed with the settings and said I wanted an offer in 48 hours.. I immediately got a plan that was worse than retention deals and worse than what I've got.

lolz i am assuming the guy got kicked out of the dragon's den??

[zzz3]

they wanted like 200k for some low equity in exchange but the dragons squeezed them to half equity if im not mistaken for 100k cash and 100k in "marketing services" lol.....

[Dragon120]

they wanted like 200k for some low equity in exchange but the dragons squeezed them to half equity if im not mistaken for 100k cash and 100k in "marketing services" lol.....

Nope.

They wanted $400k in exchange for 25% (I think) stake in the company.

They received $200k in cash + $200k in Marketing services from Venture Communications (well-known Marketing firm based in Calgary).

I doubt this company will take off and I don't envision them being profitable in the longrun.

[zzz3]

Nope.

They wanted $400k in exchange for 25% (I think) stake in the company.

They received $200k in cash + $200k in Marketing services from Venture Communications (well-known Marketing firm based in Calgary).

I doubt this company will take off and I don't envision them being profitable in the longrun.

my mistake :)...i didnt remember it too well because the deal given and the deal itself werent that great.

[brunes]

By the way I don't know if anyone else noticed, but these guys running this site (Paul Peic and Ky Husbands) are the EXACT SAME two guys who were doing a house flipping show (the big flip) on HGTV not one year ago.

http://paulandkye.com/

http://www.hgtv.ca/ontv/hostdetails.aspx?hostid=41744

I duno about anyone else but to me this just SCREAMS of a scam. What do house flippers know about running a business? My guess is they lost their shirt in the real estate market crash and needed a new get-rich-quick scheme, and came up with this dud.

Too bad the Dragon's did not recognise them like I did or they might not have gotten any money.

[zoro69]

Havent seen any evidence they got the money...very few of the "deals' on the show have ever closed, almost none before brett did some last year.

[sunnybono]

By the way I don't know if anyone else noticed, but these guys running this site (Paul Peic and Ky Husbands) are the EXACT SAME two guys who were doing a house flipping show (the big flip) on HGTV not one year ago.

http://paulandkye.com/

http://www.hgtv.ca/ontv/hostdetails.aspx?hostid=41744

I duno about anyone else but to me this just SCREAMS of a scam. What do house flippers know about running a business? My guess is they lost their shirt in the real estate market crash and needed a new get-rich-quick scheme, and came up with this dud.

Too bad the Dragon's did not recognise them like I did or they might not have gotten any money.

Thank you. I watch dragon's den and I recognized the faces but couldn't remember where I saw them before

sk

[xerane]

Tried it, sucks. Wanted a 20 dollar plan, got offered a 90 dollar plan. 3 years. And you get a blackberry pearl flip, lol

[Frankie3s]

Tried it, sucks. Wanted a 20 dollar plan, got offered a 90 dollar plan. 3 years. And you get a blackberry pearl flip, lol

If these are the results, looks like it will be shut down in no time.

[Gigi08]

edit: So I messed with the settings and said I wanted an offer in 48 hours.. I immediately got a plan that was worse than retention deals and worse than what I've got.

I've signed up with them, you can modify your settings/profile.

lolz i am assuming the guy got kicked out of the dragon's den??

No they did not, they got some of what they were asking for.

If these are the results, looks like it will be shut down in no time.

The results are based on the information you provide in your profile. For example, when you set it up, it asks what phone you would like. I made the mistake of selecting the Palm Pre as on of my options, so obviously as a current Rogers customer, I would then get offers from Bell since they off the Pre. If I were to change that and take phones that only Rogers/Fido offers then I would get offers from them.

I am not sure of the site might work for RFD members since you guys already know how to work these cellphone companies :lol::lol:

[ricsad]

Nope.

They wanted $400k in exchange for 25% (I think) stake in the company.

They received $200k in cash + $200k in Marketing services from Venture Communications (well-known Marketing firm based in Calgary).

I doubt this company will take off and I don't envision them being profitable in the longrun.

$400,000?? No way.. that website is not worth anywhere near $400k! Now I'm eager to watch the episode to find out why.

[ykshum]

I am not sure of the site might work for RFD members since you guys already know how to work these cellphone companies :lol::lol:

Exactly, RFD is about milking everything we can and I can't see any of the big 3 telecomms willing to offer good (or any) retention plans to a non-affiliated company. Best they can probably do is offer free CID or something and save you a few bucks per month. The only area they might be able to make a decent difference is probably get a phone slightly cheaper if they can prove to be successful in bringing in new clients. But they will also charge you a handful too for the services, so it sort of defeats the purpose.

I guess it's mainly for those people that would just walk into a Rogers/Telus/Bell booth and sign up to any plan that fits their needs. But I doubt there will be enough of them to make this business successful.

[Dragon120]

By the way I don't know if anyone else noticed, but these guys running this site (Paul Peic and Ky Husbands) are the EXACT SAME two guys who were doing a house flipping show (the big flip) on HGTV not one year ago.

http://paulandkye.com/

http://www.hgtv.ca/ontv/hostdetails.aspx?hostid=41744

I duno about anyone else but to me this just SCREAMS of a scam. What do house flippers know about running a business? My guess is they lost their shirt in the real estate market crash and needed a new get-rich-quick scheme, and came up with this dud.

Too bad the Dragon's did not recognise them like I did or they might not have gotten any money.

Thanks Brunes, didn't know that.

$400,000?? No way.. that website is not worth anywhere near $400k! Now I'm eager to watch the episode to find out why.
I totally agree with you. I was very surprised that they actually got the funding from Arlene, I don't know what she saw in the company. Of course, if I had the same vision as her, I wouldn't be sitting here typing this. :cheesygri

[oasis100]

Havent seen any evidence they got the money...very few of the "deals' on the show have ever closed, almost none before brett did some last year.

Can you show me where you got that information?

[zoro69]

Some of the people have posted on their forums, some have commented in news articles, some were updated on the show or its site. Only a handful of deals have had money really change hands. They are inclined to agree to a deal as that ensures their segment will air on Tv...that is the real value to going on the show for the ones that are attempts at real businesses.

the blackjack one that was just on is a rare one where the inventor walked away
http://www2.canada.com/windsorstar/news/story.html?id=2d5b8150-ce53-4571-a2ef-149b74e39552

Most of them the dragons didn't have any real interest. I believe over the first two years only 2 total actually closed the deal, the salad dressing one and atomic tea.

[WSnipez]

Thanks Brunes, didn't know that.


I totally agree with you. I was very surprised that they actually got the funding from Arlene, I don't know what she saw in the company. Of course, if I had the same vision as her, I wouldn't be sitting here typing this. :cheesygri

I think in the show they actually said she wasnt just investing in the company cause she thought it was a really great idea, but because she thought they were good people that were worth investing in.

[zoro69]

Its the same with the UK version

In September 2006, in an investigation by the Sunday Mirror newspaper, it was claimed that most of the deals were unfulfilled after the programmes were shot. The article claimed that the Dragons either pulled out of the deals over minor technicalities, deliberately offered heavily unfavourable terms to the entrepreneurs in an effort to make them withdraw, or simply broke off all contact with them after the recording. The UK Dragons defended their record, with Duncan Bannatyne saying: "We don't hand over money to people who don't tell the truth.", while Theo Paphitis added: "I kept up my end of the bargain. The show is not about a cash prize, it is about us pledging to invest. But people must tell the truth. Simple." A BBC spokesman said: "After the initial agreement is made on camera, both parties enter a period of due diligence. Sometimes during this period the deals fall through."[6] In fact, the BBC has never made a secret of this, with follow-up programmes admitting that many deals ultimately fell through.

http://en.wikipedia.org/wiki/Dragons%27_Den_%28UK%29

[oasis100]

Some of the people have posted on their forums, some have commented in news articles, some were updated on the show or its site. Only a handful of deals have had money really change hands. They are inclined to agree to a deal as that ensures their segment will air on Tv...that is the real value to going on the show for the ones that are attempts at real businesses.

the blackjack one that was just on is a rare one where the inventor walked away
http://www2.canada.com/windsorstar/news/story.html?id=2d5b8150-ce53-4571-a2ef-149b74e39552

Most of them the dragons didn't have any real interest. I believe over the first two years only 2 total actually closed the deal, the salad dressing one and atomic tea.

Interesting.

Uno inventor got money,

http://www.the-uno-tomorrows-transportation.com/team.html

[oasis100]

I find the UK version unbearable to watch. None of the guys have any humour in them. They all come across snobby.

[Sylvestre]

Do people actually think that 5, 6 or 7 figure deals are negotiated and done in the space of 10 minutes?

Come on! any reasonable person must realize that after the show there' sginificant research and due diligence done by the investors before any kind of agreement is signed. And, rightfullly, if after that DD, the investor doesn't feel comfortable, he/she should walk away.

[oasis100]

Do people actually think that 5, 6 or 7 figure deals are negotiated and done in the space of 10 minutes?

Come on! any reasonable person must realize that after the show there' sginificant research and due diligence done by the investors before any kind of agreement is signed. And, rightfullly, if after that DD, the investor doesn't feel comfortable, he/she should walk away.


No, the show is cut to fit. The full length is more like an hour.

[zoro69]

I dont think they are anywhere close to an hour...they film a whole bunch in a day, the entire series in a less then a week. There have been some of them complain about how it went, that they couldn't say what they wanted, that they couldn't bring props they had in while others could. its an entertainment show...

Bret has really done some deals, even got in when it was another dragon would "did a deal". There is an article somewhere about how Robert is known to blow them off as soon as show is over.

[brunes]

Some of the people have posted on their forums, some have commented in news articles, some were updated on the show or its site. Only a handful of deals have had money really change hands. They are inclined to agree to a deal as that ensures their segment will air on Tv...that is the real value to going on the show for the ones that are attempts at real businesses.

the blackjack one that was just on is a rare one where the inventor walked away
http://www2.canada.com/windsorstar/news/story.html?id=2d5b8150-ce53-4571-a2ef-149b74e39552

Most of them the dragons didn't have any real interest. I believe over the first two years only 2 total actually closed the deal, the salad dressing one and atomic tea.

Good for him, this idea is a literal gold mine. The dragons were fools for not snapping it up at the guys asking price.

There is literally zero reason for a casino to not replace all of their existing blackjack tables with this guys, because you can play standard blackjack if you want, the side wagers are optional. But every time someone is foolish enough to make one the casino laughs all the way to the bank.

[zzz3]

I dont think they are anywhere close to an hour...they film a whole bunch in a day, the entire series in a less then a week. There have been some of them complain about how it went, that they couldn't say what they wanted, that they couldn't bring props they had in while others could. its an entertainment show...

Bret has really done some deals, even got in when it was another dragon would "did a deal". There is an article somewhere about how Robert is known to blow them off as soon as show is over.

he always seems to come across as the nice guy too lol...especially on shark tank when kevin is ripping into someone.

[Arob]

Keep your eye on myCELLmyTERMS (http://www.mycellphonemyterms.com) and read their blog when you get there - you will see the great strides they are making and the success they are already having - thats because Canada is desperate for it!

In addition to their Dragons's Den appearance, they were featured on the popular website Small Biz Blog (http://blog.bizlaunch.ca/2009/10/14/get-a-cellphone-on-your-terms/) where the author, Andrew Patricio, profiles all four entreprenuers and details Paul and Kye's involvement in The Big Flip. He writes that Paul and Kye flipped their profits into this new business, which is a nice idea.

Listen anything we Canadians can do to lower cell phone rates is welcome... we are paying way too much money compared to other countries and of course we can thank the CRTC for that. thanks

[Chigu]

See this weeks dragon's den (the one that aired yesterday). After the handshake there is still a lot of Due diligence to be done. During this time, MANY deals dont' go through.

[richardvoyageur]

So I guess you have a vested interest in this service(Paul or Kye)?

The site is trash if you ask me. Why launch a site/service if it's not ready? You've already pushed all of the people on these boards away.

Good luck anyway, anything that brings more competition into a market is great, but $90 plans with 3 year contract ... you might as well shut the site down.

Keep your eye on myCELLmyTERMS (http://www.mycellphonemyterms.com) and read their blog when you get there - you will see the great strides they are making and the success they are already having - thats because Canada is desperate for it!

In addition to their Dragons's Den appearance, they were featured on the popular website Small Biz Blog (http://blog.bizlaunch.ca/2009/10/14/get-a-cellphone-on-your-terms/) where the author, Andrew Patricio, profiles all four entreprenuers and details Paul and Kye's involvement in The Big Flip. He writes that Paul and Kye flipped their profits into this new business, which is a nice idea.

Listen anything we Canadians can do to lower cell phone rates is welcome... we are paying way too much money compared to other countries and of course we can thank the CRTC for that. thanks