Dragons’ Den celebrity Steven Bartlett has declared the “largest deal of his career” after securing a partnership with a US tech company.
The businessman shared that he has finalized a “significant, double-digit equity investment agreement” with the Los Angeles-based company Stan Store.
Stan Store, headed by CEO John Hu, who established the company in 2021, is currently supported by the private equity firm Forerunner and angel investors Kevin Hartz and Michael Ovitz, a past president of The Walt Disney Company. The platform is designed to assist entrepreneurs in launching their own retail shops. John Hu kicked off his career at Goldman Sachs as an investment banking analyst. The company is rumored to bring in annual revenue surpassing $30m (£22.1m).
This calculated step by Bartlett follows a number of prominent investments and choices. Earlier this month, City A.M. noted that Cheesegeek, the first firm Bartlett invested in during his tenure on BBC One’s Dragons’ Den, was rescued by Albex Group after encountering financial issues. He had initially taken a five per cent share in the London cheese retailer for £150,000 in 2021, which appeared in his debut series on the program in early 2022.
In addition, last week, the Advertising Standards Authority (ASA) prohibited a Facebook advertisement for the nutrition company Zoe, which included a statement from Bartlett. The ad, promoting Zoe’s Daily30+ supplement, asserted it included “only real food” and “no ultra-processed” ingredients, but the ASA found it to be misleading. In 2023, Bartlett’s Flight Fund invested $2.5m into Zoe, which offers health testing and dietary guidance.
Earlier this year, Steven Bartlett stepped down from his role as a director of the nutrition brand Huel following his move to Los Angeles.
