Thursday, November 20, 2014

Morgan Carey Pitches The Dragons

Real Estate Webmasters CEO
In The Dragons' Den

Local high-tech website design and marketing company founder, Morgan Carey appeared before CBC's Dragons in the den looking to sell a stake in his company. The episode was aired on Nov. 19 and Morgan is the final pitch of the night.

Morgan explained his company was not in need of cash but was looking for the connections and contacts the Dragons have to drive his company from currently employing 100 people to employing 1000 people in the next five years.

Morgan was offering a 4% share in his company for $2 million, Jim Treliving offered the $2 million but for a 10% stake, Morgan countered and they came to an agreement of 5%, meaning the company is considered to have a $40 million evaluation.

Morgan recently moved his company into the old Free Press building after a $2 million reno, which is also the site of his restaurant REWsters ........   no, that is not a typo it shouldn't be ROOsters even though Morgan does have much to crow about.

This is exactly the type of business Nanaimo should be bending over backwards to attract as it provides good paying, family supporting jobs attracting young, creative and vibrant people to our city. It is also a business which brings new money into the community as most of their clients are from 'away'.

Click HERE to watch Morgan in the 'den'. This links to the entire episode and Morgan appears at the end.


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