Levi Roots offered 40% of Reggae Reggae Sauce in his Dragon's Den pitch.
The 40% figure represented the share of the business Roots proposed exchanging for the investment he requested. Equity is the ownership portion of a company, so offering 40% meant that investors would receive a substantial stake rather than simply lending money.
Dragon's Den negotiations often focus on whether the proposed ownership percentage matches the company's valuation. If an entrepreneur asks for £50,000 in return for 40%, the implied valuation is calculated from that relationship. Investors may argue that the business is worth less, or that the requested share is too generous or too small.
The offer is distinct from the final ownership structure after negotiations and later business changes. Television pitches capture a particular moment, while companies can subsequently issue shares, form partnerships or change ownership. The 40% answer refers to Roots's on-screen proposal.