Toronto Entrepreneurs Make Dragons Den History
Summary
”But we are building payment solutions for companies that are household names - and to give up 40% of the company for a million dollars is really undervaluing what we have in the works right now.” The company’s flagship product, UseMyBank, lets customers pay for their online purchases directly from their bank account, using the online banking services.To find out how you can start accepting real time bank payments on your website, contact: Brian Crozier VP, Global Business Development UseMyServices.com 416.822.3633 brian@usemybank.com Toronto, Canada, March 06, 2010 --( PR.com )-- When UseMyServices’s founders, Joseph Iuso and Brian Crozier, appeared on the March 3rd Dragons Den show, they did something that no one has done in the history of the enormously popular show: they turned down the Dragons’ offer of $1 million dollars.But it wasn’t easy and it was not a decision that was made in haste - the pair had discussed the possibility before the show, and come to terms with what they would - and would not - be willing to give up for the Dragons’ investment.In a rare unanimous vote, the five Dragons quickly agreed to invest the $1 million dollars Iuso and Crozier were seeking - but they upped the equity stake from the offered 5% to 40%, and the offer was rejected.“It obviously was not an easy decision,” said UseMyServices CEO, Joseph Iuso.”But we are building payment solutions for companies that are household names - and to give up 40% of the company for a million dollars is really undervaluing what we have in the works right now.”The company’s flagship product, UseMyBank, lets customers pay for their online purchases directly from their bank account, using the online banking services.Since the taping, the company has launched a new website and brand, UseMyServices.com, expanded their services to Mexico & Australia, and is poised to launch a new micro-payment platform specifically aimed at the multi-billion dollar "social" gaming niche, made popular by FaceBook and MySpace.“The bottom line is that both sides wanted to make a deal,” continued Crozier, “but we could not disclose enough information at the time of the taping to bring the two sides together.To find out how you can start accepting real time bank payments on your website, contact:Brian CrozierVP, Global Business DevelopmentUseMyServices.com416.822.3633brian@usemybank.com Contact Information UseMyServices, Inc Melody Wigdahl 513.288.2745 http://www.usemyservices.com Click here to view the list of recent Press Releases from UseMyServices.com Promote Your Business Press Release Pricing Email this page to a friend