Large tech companies make millions exploiting people’s data. Some are okay with it but others are not. Gene8 offers two solutions to counter this issue: stop all websites from tracking your data or let them continue in exchange for incentives.
The software provides a solution to a problem that advertisers hate to discuss. Founder Sam Jones pitched it on Dragons’ Den and made a deal with Peter Jones and Touker Suleyman. As of 2023, Gener8 is worth £10 million. This is 15 times higher than the valuation on the show!
About the Founder
Sam Jones is a serial entrepreneur from London. Before starting his business career, he got a bachelor’s degree in philosophy at Cardiff University. In 2009, he worked as the national media representative for Street Surfing.
Two years later, he launched his first company, 212 Promotions and co-founded Hit The Town the following year. His early startups were short-lived, but his career at Red Bull wasn’t. He was hired as a student brand manager but climbed the ranks to become a global brand manager.
Founding the Company
With his extensive marketing experience, Jones knew the truth about the advertising industry constantly tracking people’s data and online activity. He understood that some people didn’t like this, and he wanted to give them a choice.
He developed Gener8, a free-to-use browser plugin that helps users take control of their information. The software has two modes: ‘Privacy Mode’, which completely stops sites from tracking, and ‘Earning Mode’, which rewards people if they allow data tracking.
Users can redeem their points for vouchers, products, and charity donations. The plugin was soft-launched in 2018. After two years, they acquired 30,000 active users.
Dragons’ Den Appearance
In 2021, Gener8 was growing quickly but needed to raise capital. Sam Jones knew that his company had the potential to crack a billion-dollar market. He appeared on season 18 of Dragons’ Den, seeking £60,000 for a 10% equity stake.
Sam’s introduction was flawless, and Touker Suleyman even called it one of the best pitches he had ever heard on the show. The young entrepreneur did well explaining how the software works and his business model.
After all the praise, a bidding war soon started. Touker, Peter Jones, Tej Lalvani and Deborah Meaden all wanted a piece of the action. After stepping away for a bit, the founder asked Peter and Touker to split £60,000 for 10%. Hands down, one of the best ever pitches on Dragons’ Den.
After Dragons’ Den
After the episode aired, Gener8 experienced a huge spike in website traffic. According to Sam, over 1.5 million people visited their website and over 500,000 people have downloaded the app.
The deal with the two Dragons closed, finally Touker’s office helped him get a deal! Free office space for a year in London was too good to turn down. Another funding round closed around July 2021 and Gener8 raised £2.1 million from celebrities including Harry Redknapp, Tinie Tempah and even Tej Lalvani.
The plugin can be downloaded from their website, Gener8ads.com. The app is available on mobile for Android and iOS devices. As of mid-2021, the app was being downloaded every ten seconds.
On the Google Play Store, it has an average rating of 4.6 stars from 797 votes. The company is rapidly expanding but hasn’t shared any recent revenue figures. Gener8 makes an estimated £1 million per year in revenue and is currently valued at £10 million.