Steven Bartlett: Dragons’ Den star signs the ‘biggest deal of my life’
Dragons’ Den star Steven Bartlett has said he’s “signed the biggest deal of my life” after becoming a co-owner of a US technology company.
The entrepreneur has agreed a “major, double digit equity investment deal” in LA-based Stan Store.
The business is led by chief executive John Hu who set up the firm in 2021.
Hu started his career as an investment banking analyst at Goldman Sachs.
Stan Store is already backed by private equity firm Forerunner as well as angel investors Kevin Hartz and Michael Ovitz – a former president of The Walt Disney Company.
The company runs a platform which is designed to help entrepreneurs launch their own store.
According to Steven Bartlett, Stan Store has an annual revenue of more than $30m (£22.1m).
Steven Bartlett hits the headlines
The announcement comes after City PM reported earlier this month how the first company that Bartlett invested in when he joined hit BBC One show Dragons’ Den collapsed and was rescued has been revealed for the first time.
In March, artisan cheese retailer Cheesegeek was acquired by Scotland-based Albex Group.
The collapse and subsequent rescue came after Steven Bartlett bought a five per cent stake in the London company for £150,000 in 2021.
The investment was featured in the businessman’s first series on Dragons’ Den which aired at the start of 2022.
Last week, an advert featuring Dragons’ Den star Steven Bartlett for nutrition brand Zoe was banned after being ruled to be misleading.
The Advertising Standards Authority (ASA) found against the Facebook advert for Zoe’s Daily30+ supplement which the brand claimed contained “just real food” and “no ultra-processed” ingredients.
The watchdog said the advert, which included a quote from investor Steven Bartlett, was likely to lead to the public interpreting that some of the ingredients as ultra-processed because of the level of processing they required.
Zoe offers health testing and dietary advice services. Steven Bartlett’s Flight Fund invested $2.5m in Zoe in 2023.
Earlier this year, Steven Bartlett quit as a director of nutrition brand Huel after he moved to LA.