Trend Trunk founder Sean Snyder “came out of the closet” with his company on CBC’s Dragon’s Den Wednesday night, but in the end, the deal was dropped and the company is taking funding in their own hands.
The Hamilton-based online consignment store made a short appearance on last week’s episode, and charmed Dragon Arlene Dickenson with its designer offerings.
Kevin O’Leary eventually offered $200,000 for 50 per cent of Snyder’s company, but the two parties decided to part ways after the show was taped.
“It came down to expectations and what people think things are worth,” Snyder told CBC Hamilton. “I don’t know if [O’Leary’s company] would have been the right partner in the long-term.”
Snyder was looking for an active business partner who would be in for the long haul, helping with marketing as his company continues to expand and add more shopping features.
“It’s more than the money,” he said. “We wanted someone to be involved.”
Snyder is reaching out to his clients to contribute to his company. At the same time the Dragon’s Den episode aired, he launched a crowdfunding campaign with perks for contributors.
Trend Trunk was a winner at this year’s Lion’s Lair, a Dragon’s Den-like small business competition run by the regional innovation centre, taking home $27,000 in services.