Rachel Elnaugh founded Red Letter Days before joining Dragon's Den as an original investor.
Red Letter Days was a British experience-gift company co-founded by Elnaugh and her husband, Neil. The business sold vouchers for activities and memorable experiences, a model that became familiar to British consumers before online experience marketplaces expanded.
Elnaugh brought that entrepreneurial background to the first Dragon's Den panel in 2005. Her experience differed from the technology, property and leisure backgrounds represented by some of the other original investors, making her a notable part of the programme's initial lineup.
Red Letter Days later encountered financial difficulties and was sold, with Peter Jones involved in rescuing the company. That later connection can cause confusion, but Elnaugh—not Jones—was the founder associated with the business before the television series began.