That’s Never Happened Before: Facebook Buys “The Lion’s Den” Startup
Success for Presize: As the first start-up of the “Die Höhle der Löwen” start-up program, the Munich-based company was bought by a global technology group. Meta secured 100 percent of the shares.
At the end of 2020, Leon Szeli and Tomislav Tomov presented the idea for their company Presize: a digital size consultant on the Vox show “Die Höhle der Löwen”. The user records a video of himself with a smartphone and then an AI determines the correct size of clothes in the respective online store.
The concept convinced investor Carsten Maschmeyer in the start-up program: The lion secured 15 percent of the start-up for 650,000 euros. Other investors also pumped money into the app, according to CEO Leon Szeli, it was a total of two million euros. Now Presize is taking the next big step: As the business portal “Gründerszene” reports with reference to an entry in the Munich business register, Facebook’s parent company Meta has taken over the start-up.
Acquaintance from “The Lion’s Den”: Presize merges with Meta
This means that the Presize brand will soon disappear from the market. According to the “Gründerszene” report, Meta has taken over 100 percent of the company. Initially there was no information on the purchase price. According to “Gründerszene”, Meta cares primarily about the technology behind the tool. Of the approximately 50 Presize employees to date, it is mainly the developers who will continue to work.
This is the first time that a startup from the “Lion’s Cave” startup program has managed to be bought by a global technology company. Szeli founded the startup in 2019 with Tomislav Tomov and Awais Shafique. The trio met while studying. According to the website, the Munich start-up’s consultants and investors have included Maschmeyer, Heiko Schäfer (COO of Hugo Boss) and Chris Brenninkmeyer, whose family owns C&A. The Presize body scanner tool is integrated directly into the pages of online stores and, according to the founders, should be able to determine body measurements with 55 percent more accuracy than comparable offerings from competitors on the market.
Sources: “Foundation Scene” (1) / “Foundation Scene” (2) / Presize
Watch the video: The founders inspire with weird and clever ideas in “The Lion’s Den.” But not everyone gets a deal, and not every deal brings investors millions. But it all fell into place with these startup ideas and they became a gold mine for entrepreneurs.