Mallzee, the Edinburgh-based “personal shopper” app, has announced a partnership with technology giant Samsung after founder and chief executive Cally Russell turned down £75,000 from television dragon Peter Jones.
Russell entered the Dragons’ Den seeking £75,000 for a 5 per cent stake in the business. During the show, which aired on BBC 2 tonight, Jones offered the full amount in return for a 20 per cent slice of the firm, telling Russell that he believed backers needed to be “ballsy to invest in Mallzee”.
After mulling over the offer, Russell declined and left the Den empty handed.
However, the entrepreneur tonight revealed that Mallzee, which launched in 2013, has signed a partnership with Samsung in the UK and Ireland.
Under the deal, which runs throughout this year, Mallzee will feature in Samsung’s Galaxy Apps, Galaxy Gifts and a series of other channels, offering customers of the smartphone and tablet maker exclusive discounts on fashion brands, starting with 20 per cent off at Warehouse.
Russell said: “It felt awful to turn down the money in Dragons’ Den but I simply couldn’t undervalue the business like that and now, thanks to this agreement, I know it was the right decision.”