Upon reaching the top of the stairs to success, people often need a huge container to keep all their money in as their pockets and straps are filled. This is exactly the problem that Ladderbox intended to solve!
Needless to say, the problem is as baseless as the company’s product is for you because you wouldn’t be reading this article if you were successful in your life. Similarly, the company does not operate anymore as it was never successful in its entire life!
So let us now proceed to the part where the company gets booted out of the Den.
Ladderbox at a Glance:
| Idea | Automatic service selection and bill payment service |
| Founders | Henry De Zoete and Will Hodson |
| Asked For | £100,000 For 15% |
| Accepted Deal | Did not get a deal |
| Dragons | None |
| Business status | Dissolved |
| Episode No. | Season 6, Episode 6 |
Index:
What is Ladderbox?
Ladderbox was a portable toolbox that could fit on most types of step tops; it was manufactured and sold by LADDERBOX UK LTD. It was intended for use in trade and DIY applications similar to another Dragon’s Den product GripIt.
It had separate add-on attachments for storing paint in it as well. The toolbox was granted a full European patent. It was available in the retail outlets of Gap and some other stockists, distributors, and retail chains sold it.
The retail price of one of these was £14.95. The product failed in the market even after multiple attempts and the company eventually shut down.
Who are the Founders of Ladderbox?
The father-son duo of Robb and Geoffery Hill founded the company in the May of 2008 with the motive to solve a rampant problem they faced while doing electrical fixes at their home and work.
Both of them were involved in the real estate business before setting up Ladderbox and continued with their original business after forming the company as well.
They displayed the typical father-son relationship while at the Den. Unfortunately, the company never succeeded and they had to shut the shop even after multiple attempts.
Did Ladderbox get a deal on Dragon’s Den?
The father-son doublet presented the Den with their product and also with their chemistry which seemed to be quite entertaining to begin with but as the pitch went forward, all hell broke loose.
Papa would talk over kiddo and vice-versa making the pitch so annoying that it seemed as if it would be stopped and the pitchers would be asked to exit. Some Dragons didn’t even want to speak to Robb and Geoff because of their behavior.
None of them had any financial data regarding the company’s business to make matters worse. Even the projections were presented by Robb in a fashion that made it seem like he was coming up with them instantly.
Finally, the embarrassment came to an end and the Hills were directed towards the exit by one of the Dragons. The pitch was a complete blow-up and became infamous among the viewers.
What happened to Ladderbox after Dragon’s Den?
Ladderbox saw a spike in sales due to the Dragons’ Den effect and managed to sell the remaining stock of 1000 units but that was about it. The Hills had invested a total of £100,000 in the business and managed to get just a measly £7,000 out of it.
Duncan Bannatyne gave divine knowledge by bringing to everyone’s notice that a good thing about losing £93,000 was that one did not have to pay any sort of tax on it.
Robb told Duncan that the company was in the process of signing a licensing contract which would result in a royalty of £1 for every unit sold but Duncan did not buy this boast and rightly so.
Since then, there has been no update from the company or anyone else as to what happened to Ladderbox. The company’s Linkedin page has a sanitizer sprayer’s image on it which could have been developed by its founders but that’s it as far as updates go.
Product Details:
- It was a universal step-mount toolbox.
- It had a patented design.
- It retailed at £14.95.
- Accessories like a paint box could be attached to it.
- It was available in some retail chains in the UK.
Competitors of Ladderbox:
Ladderbox was the only product of its kind as it was an impractical and undesirable one. It was outcompeted by tool-holding belts and similar existing tools. It was an ‘impractical & patented“delicacy so to say.
No one would dare to compete with Ladderbox as it went on to outcompete itself at the speed of a turtle, a slow and painful death as it is called.
What is the Net Worth of Ladderbox?
The Hills valued the ‘ingenious and unique’ Ladderbox at £665,000 just because anyone can do anything in this world as far as it is within the legalities of the territory.
One could get £0.25 flip-flops insured for a million pounds but that doesn’t make them worth that much money.
Similarly, Dragons did value Ladderbox at all. To rephrase, they deemed it to be worthless as they had not sworn an oath to the Hill family in their previous life. If you could not comprehend, Ladderbox is worth nothing.
Is Ladderbox still in Business?
No, luckily for common sense’s survival, Ladderbox is no longer in business. It has been torture to even fabricate an article covering this business, it would have been excruciating to have set it up for all practical purposes.
It can be successfully concluded that the owners of Ladderbox did not or could not feel any amount of pain.
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What is Ladder Box?
Ladderbox was a portable toolbox that could fit on most types of step tops; it was manufactured and sold by LADDERBOX UK LTD. It was intended for use in trade and DIY applications similar to another Dragon’s Den product GripIt.
What's the net worth of Ladder Box?
The Hills valued the ‘ingenious and unique’ Ladderbox at £665,000 just because anyone can do anything in this world as far as it is within the legalities of the territory.