Die Höhle Der Löwen: Steffen Baumgart Surprises Investors with a New Concept
Steffen Baumgart's Surprise Entry
In a recent episode of Die Höhle der Löwen, airing on Monday, October 19, at 8:15 PM on VOX, Steffen Baumgart, former coach of various football clubs, made an unexpected appearance that caught investors off guard. Ralf Dümmel visibly struggled to believe his eyes upon seeing the familiar face, while Carsten Maschmeyer recognized Baumgart but noted his absence of a signature cap.
The Concept Behind move2pay
Brought to the stage, Baumgart wasn't there to pitch a business but to support Mia Allouche and her father, Karim, who developed the app move2pay. The concept aims at encouraging physical activity by offering a financial incentive for users who track their workouts and steps.
- Users convert their activities into movement credit.
- This credit can be redeemed in the move2pay shop with partnered companies.
Investors' Reaction
Despite Baumgart's enthusiastic presentation, not all investors were convinced. Frank Thelen raised an essential point regarding the business model, emphasizing that customers still need to contribute personally to their purchases. His criticism, however, didn't deter Thelen from investing. Ultimately, a deal was struck as he acquired 20% of the company, valuing it at 3.5 million euros.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.