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Make your deals easier: Learn from the case of this wine startup deal

In the fourth installment of the current season of “2 Minutes 2 Million”, there was a bedbug trap to put in at night, the ability to organize dying online, a smart lamp and tattooed shoes. In addition, there were disputes between Hans Peter Haselsteiner and Leo Hillinger, culminating in the fact that the wine expert was even forced out of a deal with a wine startup.

The first pitch in episode 4 of the current season of “2 Minuten 2 Millionwe” came from Vienna: Christian and Alexandra Lippitsch have founded an online platform with Vacosta, where wine tastings can be bought and tasted at home. At the click of a mouse, it is possible to put together individual tasting packages (20 or 40 small vials of 33 ml each) using a configurator made up of around 250 Austrian wines. The duo offered 15 percent of company shares for 180,000 euros.

Themed and surprising wines

The dispatch takes place without forwarding expenses (price: 29,90 Euro). In addition, there is a coupon if users decide to buy one or the other test wine. In addition, the startup offers more opportunities to buy special wines. It also offers themed blocks and surprise packages.

Convertible loan from Haselsteiner

Wine Pope Leo Hillinger thought the idea was great, but disturbed the market assessment. Martin Rohla agreed, and then got out. “Stay tuned,” was his advice to the startup. Also Katharina Schneider was full of praise and wished first a partner for an investment. With that she started an unexpected “friction”. Hans Peter Haselsteiner offered a convertible loan in the amount of 100,000 euros. Condition: Increase 15 percent stake for three years with the prospect of 26 percent should the startup succeed.

No (wine) love between investors

When Leo Hillinger offered to form together with Schneider and Haselsteiner an investment trio, the Strabag boss spoke up and subliminally put a conflict of interest in the room. The partnership between investor and Vacosta should by no means give the impression of favoring one or more wine regions. Haselsteiner asked Hillinger to refrain and let him invest only together with Katharina Schneider.

“Hillinger would not be good for the startup”

Demands from the wine expert that his own wine brands would not have to be part of Vacosta led Haselsteiner to testify that Hilinger has a “big name” in the wine industry that could overshadow Christian and Alexandra Lippitsch’s project. A partnership with the company would be “not good for the startup,” the investor concludes.

Hillinger shocked and unnerved

Hillinger was annoyed and “shocked,” he said. He got out in anger. Katharina Schneider then joined Haselsteiner’s offer (€ 50,000 each for 7.5 percent), while the studio had a frosty atmosphere.

Haselsteiner: “They polarize”

While the founders withdrew for advice, investors began to work up what had just happened. Haselsteiner in the direction of Hillinger: “They polarize”. He countered that he had already proved with the program “Austria’s next top winemakers” that he would not put himself in the foreground. It did not help and Hillinger had already lost the appetite for the investment and stayed first by shaking his head, then shaking hands. He congratulated the Viennese couple, who finally accepted the convertible loan from Scheider and Haselsteiner.

A (bed) bed in the bed

The second appearance came from the audited exterminator Günter Schachinger. His startup BedBugBrake aims to use a patented bed bug trap to eradicate the parasite – without resorting to insecticides. The collapsible trap (a tall frame with a sheet) contains a self-developed adhesive in which the vermin should stick.

Amusement instead of interest

For the case that rests on the bed mattress while the buyer sleeps in it, the founder wanted 150,000 euros for 20 percent goodwill. The jury was more amused by the pitch than interested. Haselsteiner called the design of the product a sort of coffin lining. Even the cumbersome get into bed, once the trap is up, was a problem for the jurors. There was no deal.

Digitize the dying

With Benu by Stefan Atz and Alexander Burtscher, a startup is dedicated to dying. With their platform, the founders want to give users the opportunity to plan acute or upcoming bereavements online. They demanded 100,000 euros for ten percent shares.

Three offers from investors

The organization platform works with local funeral companies in four different states and now wants to grow. Haselsteiner saw no sustainable profit opportunity at the startup and rose, as did Schneider. Hillinger, however, called the idea forward-looking and offered 100,000 euros for 30 percent. Martin Rohla then competed as a competitor to the wine experts and offered the same amount for 25.1 percent stake. Runtastic founder Florian Gschwandtner said that one still had to work on the business model and also offered 100,000 euros for 30 percent. He also introduced his digital know-how to the field.

Three turns one

The founders came back after consulting with the counter offer to take all three investors into the team. They demanded the said amount for 25.1 percent shares. Hillinger insisted on ten percent each for the jury members (25.1 would be hard to third, he said), whereupon Haselsteiner turned on and called the pitchers the number 27 (which would also be slightly in thirds), which also for slight excitement provided. The deal with three times ten percent for 100,000 euros went through nonetheless.

A smart lamp

Robert Kopka and Lukas Pilat have already spent more than half a million euros in Luke Roberts. The founders developed a smart designer lamp that can generate any conceivable lighting situation in a room via an app. The product also learns through AI and is equipped with sensors that, according to founders, make the light switch superfluous. They wanted 600,000 euros for ten percent stake.

No patent yet

The valuation and the lamp price for around 700 euros, made the investors a bit suspicious at first. The control by smart home systems or by app was skeptical eye. However, during the demonstration of the smart luminaire, investors became increasingly interested. Many questions for functionality were asked and, as Hillinger noted, competently answered. However, that rose due to the outstanding patent.

No deal at 2 minutes 2 million on TV

Haselsteiner also disturbed the patent situation and doubted the possibility of earning money with the idea. Katharina Schneider, on the other hand, predicted great success for the founding duo, but was unable to help and got out. Most recently Florian Gschwandtner stayed. He was fascinated by the technology, but called his feelings ambivalent. Existing investors, who have already contributed with one million euros, were one of the reasons that made him the last potential investor to disembark and there was no deal on camera.

But…

But what happened away from it and weeks after the recording is another story. Florian Gschwandtner was finally brought in the lamp startup on board. The whole story about the events of Luke Roberts’ ultimately successful investor hunt can be read here.

Create fashionable soles yourself

The conclusion of the fourth episode of “2 minutes 2 million” formed The Shoe Tattoo. It is a startup of Astrid Tempelmayr, who created with her company the possibility to attach an individual sole to the favorite shoe. She was looking for a cooperation partner to expand and wanted 50,000 euros for ten percent of company shares.

Influencers and stars

The founder currently has 250 different design patterns in store and is also offering special collections. Gschwandtner immediately revealed his vision of a community that can also create designs online or “celebrities” that could serve as a testimonial. He gave the advice to turn to influencers. Rohla and Hillinger found the tattoos a good idea, but did not see themselves as real partners.

No money, but network and advertising

Gschwandtner did not want to invest in the end, but assured that he would like to open the right doors to go viral. Schneider said she would promote the startup through her online shop, but not invest.

Published inStartups

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