Select them: This innovative startup managed to win over every lion - through the use of palatable toothpicks.
Spitting the Chiiiiiiill, Man! The Minty Toothpick Startup That Slayed Die Höhle der Löwen
Niklas Terrahe, co-founder of Pick'em, gleams with excitement as he tells the camera, "Our product is one of the oldest inventions of mankind, completely rethought." The lions, however, merely smirk in confusion. Little did they know, they were about to be blown away by a toothpick.
Enter Folkert Bowler, the co-founder donning a wooden mask and hat, prancing out from backstage to distribute mouthwatering mint-flavored toothpicks among the potential investors. Fun fact: Bowler, being English, had to be registered as a prop to appear on Die Höhle der Löwen, according to the interview Terrahe gave to Gründerszene. In reality, he was a full-fledged member of the founding team.
The Lions Go Wild for Toothpicks and Entrepreneurs
Especially Judith Williams couldn't help but smile, revealing she had something between her teeth. Bowler quickly corrected, "It's not for that." Instead, he explained, the toothpick was meant for chewing, sucking, and enjoying the flavors. Terrahe added that Pick'em is a lifestyle product.
The lions remained intrigued, with Ralf Dümmel remarking, "Really incredible," and Judith Williams saying, "Really good!" Dagmar Wöhrl chimed in, "Really fresh."
The Lions Lose Their Jaws over Pick'em
As viewers puzzled over this peculiar product, the lions were lost in admiration. The founders certainly knew how to captivate an audience. They started their presentation by announcing they had garnered over 150 million views on TikTok with their Pick'em account. Carsten Maschmeyer couldn't help but gasp, "Wow."
The team proceeded to showcase their most successful TikTok videos, featuring popular personalities like US rapper Mecklemore trying out toothpicks. It was clear they had a knack for thinking big and making anything possible. This undoubtedly impressed the lions.
Since toothpicks are usually associated with cleaning teeth, the founders had to sell the idea that Pick'em was a lifestyle product. Convincing the lions seemed to be a piece of cake for this talented team.
In the end, Judith Williams, Carsten Maschmeyer, and Nils Glagau together made an offer of 250,000 euros for 20 percent of the shares. After some negotiations, the founders agreed to accept 20.5 percent for 250,000 euros.
After the Lion's Den: A Successful Launch and Beyond
From the time the show was recorded to its broadcast, almost a year had passed. After the show, Pick'em decided to team up with Judith Williams, as Terrahe told Gründerszene. Only Williams ended up investing in the startup. The goal now is to conquer the German market, which Williams and her team can optimally support.
Previously, Pick'em had primarily focused on the US and UK markets. However, the founders hope to make toothpicks the new cool accessory for young people, as lifestyle culture is more likely to emerge in the US than in Germany. "We want to create a hype first," says Terrahe, who had already founded and sold two climate tech startups before Pick'em.
The startup's success grew significantly since the show, with Pick'em making multiple times the monthly revenue it did at the time of the taping. The team has also managed to attract other notable investors, including Christian Wolf, the founder of More Nutrition, and the former CMO of Tiktok.
But the burning question still remains: why did the founders choose toothpicks? Terrahe chuckles, "We wanted to found something in the consumer sector, so we researched brands that have managed to make simple, ordinary things cool." After exploring various options, they stumbled upon toothpicks. It seems that sometimes, all it takes is a fresh perspective to turn a mundane object into a sensation.
- Incidentally, the founders of Pick'em, the minty toothpick startup that left the Die Höhle der Löwen panel in awe, had a unique strategy for making their product a lifestyle choice rather than just a common hygiene item.
- With Judith Williams being one of the investors in Pick'em, the team aims to focus on the German market, hoping to create a hype around toothpicks as a cool accessory, much like they did in the US and UK.
- Other than Christian Wolf from More Nutrition and the former CMO of Tiktok, the founders of Pick'em have managed to convince notable investors to back their toothpick startup, demonstrating the product's potential for success.
