Rachel Elnaugh founded the British experience-gift company Red Letter Days and became a Dragon on the BBC series.
Elnaugh established Red Letter Days as a business selling memorable experiences rather than conventional physical presents. The company offered activities and events that could be bought as gifts, helping popularise the experience-gift category in Britain. She became one of the original investors on Dragon's Den when the programme launched in 2005.
Red Letter Days later experienced financial difficulties and entered administration in 2005. The brand was subsequently acquired by Peter Jones, who had been a fellow Dragon. This sequence is often misremembered as Elnaugh merely investing in the company on television; she was its founder, and the later acquisition followed the company's financial problems.