Dragons’ Den success stories: Reviveaphone
The youngest entrepreneur to ever appear on the Den, Oliver Murphy secured £50,000 for his phone repair kits – but is he still making a splash?
Company name: Reviveaphone
Description: DIY mobile phone repair kits
Investment received: £50,000 for 25% equity
Dragon investor: Kelly Hoppen MBE
Still in business? Yes – trading successfully with expansion overseas
At 20 years-old Oliver Murphy holds the record for the youngest entrepreneur to ever win investment in the Den – proof that age is irrelevant when it comes to achieving business success.
The business in question, Reviveaphone, specialises in DIY products which can bring water damaged mobile phones “back to life” within 24 hours. When Murphy pitched to the Dragons, the company had been trading for little over a year with £20,000 turnover and £3,000 net profit from UK sales but the Reviveaphone story today is very different.
Boosted by Hoppen’s funding, Murphy has scaled the Essex-based brand overseas with product launches in Spain, North America, Switzerland, Scandinavia and Japan with revenues of over £250,000 for 2014.
In August 2014, Murphy announced sales of 13,000 repair kits and said discussions were underway with leading airlines Virgin, easyJet and Flybe to offer the kits on-board their flights.
Fast forward to May 2015 and Murphy has revealed plans for a deal with mobile giant Carphone Warehouse to bring the brand into the mainstream alongside the launch of a new product line – water resistant invisible coatings for smartphones.
Watch the original pitch here.