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Alexi gives a confident pitch, pointing out that in the first month of his website's launch it has attracted 800 users, some good peer reviews, and a sponsorship deal.

Julie Meyer, whose background is in web based ventures, remains puzzled as to what Alexi's unique selling point is and he struggles to give her one.

Shaf Rasul wants to know where Alexi sees the business in three years time. The young entrepreneur expects to have 50,000 users, generating £300,000 in advertising revenue. Shaf is unconvinced a website of this size could create such big income. Alexi insists that there is huge potential in the family market and there would be ample opportunity to reach those numbers.

Julie wants to know more about the business model and Alexi points out that he can see two ways for the website to make money: through advertising and through a gift list. He says a gadget retailer has expressed an interest in sponsoring his gift list and this would give him access to a newsletter with 900,000 subscribers.

Julie then asks Alexi whether this is his first business venture. He replies no, saying that he has always been passionate about enterprise and an earlier venture in Manchester had seen him nominated for a Young Entrepreneur of the Year Award.

Julie Meyer is ready to reveal her hand - she likes working around data business and is attracted to his target market - she also is drawn to Alexi's enterprising personality. She offers him the £20,000 he is after but wants a 30% stake in his company. However she is also keen to have the young man prove his continued commitment to the enterprise and asks that he put up a further £5,000 himself in the next six months.

Shaf Rasul then matches Julie's offer and suggests that with him Alexi would be working with an entrepreneur rather than an investor and that his contacts with internet businesses could be hugely benefical for them both.

A bidding war has broke out in the Online Den and Alexi has to decide between two identical offers. Before coming to a decision he asks the Dragons whether they would consider rescinding the £5,000 but neither is prepared to do so.

Alexi decides to go with Julie Meyer and leaves the Den with the money he was after but giving away a 30% share in the company and agreeing to put in a further £5,000 of his own money as well.

The deal done in the Den:

Alexi Deak agrees a £20,000 deal for 30% with Julie Meyer and agrees to put in a further £5,000 himself.

Last updated: 22 July 2009