Observed Signal · Oct 1, 2026 · Interview · Source: Gründerszene (DACH Startups & Scaleups) · Impact: 1/5 · Sentiment: Neutral
DHDL Deals Fail Due to Post-Show Due Diligence
Many founders who pitch on the German TV show 'Die Höhle der Löwen' (DHDL) fail to close deals with investors after filming. According to investors Janna Ensthaler and Frank Thelen, the on-air handshake is only the start of the real due diligence process. Post-show examinations of financials, product, market, contracts, and team often reveal fundamental differences in expectations about growth, strategy, or the investor's role. Ensthaler notes that some deals she was eager to do eventually fell through. Thelen emphasizes that walking away is a sign of entrepreneurial diligence, not failure, and that both founders and investors should part amicably if the partnership isn't right. Both investors stress that while some founders may seek TV exposure rather than investment, the majority are genuinely interested in a partnership. This process underscores the authenticity of the show, which involves real money and real responsibility.
This is an interview with investors about the TV show DHDL, providing some insight into post-show deal dynamics, but it is not directly about AdTech, MarTech, media advertising, or technology infrastructure. It has limited relevance to the industry.
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Key Takeaways & Evidence Grounding
- Over 1,300 founders have pitched on DHDL since 2014.
- Up to 1.5 million viewers watch the current 20th season weekly.
- Investors Janna Ensthaler and Frank Thelen explain post-show deals fail due to due diligence.
- Ensthaler says the on-air deal is just the start of due diligence.
- Thelen does not view failed deals as failure but as entrepreneurial diligence.
Connected Companies & Entities
1 Entity mapped“broadcast network airing the show...”
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Blookery's DHDL Deal with Johannes Kliesch Collapses
Blookery, a German startup offering surprise city trips via blind booking, appeared on 'Die Höhle der Löwen' (Shark Tank). Founded in 2016 by Jannis Jäger and Kevin Kiesewetter, the company impressed investors with €1 million in annual revenue and €160,000 profit. The founders sought €500,000 for 12% equity, valuing the company at €4.2 million. Johannes Kliesch offered €500,000 for 40% equity, which was accepted, but the deal fell through post-show upon closer financial examination revealing such a large investment was unnecessary. Instead, Kliesch formed a partnership with Blookery, helping reduce payment processing costs and optimize marketing through performance ads, email, and influencer marketing. The founders clarified that the €5 million market forecast, a concern for Judith Williams, was based on a comparison with Eurowings' blind booking segment and was not their actual growth expectation.
Sauberkugel founders secure DHDL deal with Ralf Dümmel
Susanne and Bernd Schmekel, founders of Sauberkugel, a reusable cleaning product, appeared on the German TV show 'Die Höhle der Löwen' to seek €250,000 for their business. They have sold over 1.5 million units and generated approximately €8 million in revenue over eight years, with an 80% profit margin. Despite this success, they lacked staff and needed funds for production and retail expansion. Three investors made identical offers of €250,000 for 20% equity. The Schmekels chose Ralf Dümmel, who offered support for retail growth and scaling. Other investors, including Judith Williams and Andreas Herb, also competed, while Dagmar Wöhrl and Frank Thelen declined due to concerns about stagnation and lack of employees. The product is sold internationally, including in Germany, the USA, Japan, Taiwan, and Korea.
DHDL: Drain Cleaner Startup Dekadome Secures Deal with Ralf Dümmel
On the German TV show 'Die Höhle der Löwen' (Lion's Den), founders Anton Vrouzos and Marius Ludwig pitched Dekadome, a reusable mechanical drain cleaner that prevents clogs without chemicals. Instead of a standard investment offer, they used a spinning wheel to determine the deal terms, offering four options ranging from €30,000 for 15% to €60,000 for 30%. Despite skepticism from some investors, Janna Ensthaler and Ralf Dümmel both offered €60,000 for 30%. The founders chose Dümmel, and the deal was confirmed after the show. The product, retailing for €19.99, is now available online.
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