Nick Jenkins Net Worth 2022 – A Closer Look At The Dragon
You probably know him from Dragons but let’s take a closer look at the life and times of Nick Jenkins
Businessman, Tv personality and family man, Nick Jenkins’ net worth in 2022 are estimated to be £150 million! His life story is an interesting one that starts off with hard work, studying and even living in Russia.
He is the founder of the online greetings cards company called Moonpig. But it wasn’t all sunshine and roses. He also faced various challenges and had to change his business strategy to make his company what it is today.
So, How did this brilliant man build his wealth? Who is he? And what can we learn from his success?
Nick Jenkins – Quick Facts
Full Name: |
Nicholas David Jenkins |
Date of Birth: |
13 May 1967 |
Birth Place: |
Droitwich Spa, Worcester, England |
Wife: |
Amelia Freer |
Kids: |
One daughter named Willow |
Title: |
CEO, investor, Tv personality |
Industries |
Online Greeting Cards, Start-up investments |
Lives: |
Wiltshire, England |
Where He Ranks Among The Top Dragons
Dragon |
Networth |
Nick Jenkins |
£150 Million |
Peter Jones |
£450 Million |
Tej Lalvani |
£420 Million |
Duncan Banytyne |
£400 Million |
Theo Prophitis |
£250 Million |
Touker Suleyman |
£200 Million |
Deborah Meaden |
£40 Million |
Where Did He Make His Money?
As mentioned above, Nick Jenkins owned the online Greetings card company Moonpig.com. The online relater was established in 1999, just as the internet began to boom. In 2003, the company had established a whopping 4 million customers.
Moonpig had gained 90% of Englands online greeting cards clientele. This is a staggering amount of growth in just a short period of time. By 2007 Moonpig had shipped almost 6 million greeting cards out and kept double its profits. In 2009 the estimated value of the company was estimated to be £1.5 Billion. The workforce behind Moonpig was also rather large with 100 people selling over 12 million greeting cards a year.
So within 12 years, Moonpig became one of the leading online greeting card retailers in the world. How is that for exponential growth? In 2011 Moonpig was sold to an online company called Photobox for £120 million. Jenkins kept a 35% stake in the company which resulted in an unexpected multi-million-pound growth. After this, he decided to resign completely from the company.
From here on Jenkins decided to invest in smaller start-up companies, which has been a great success.
Did Jenkins Face Any Issues During This Time?
One of the major reasons for Jenkins success is that he also made important decisions that kept his company going. For example, 4 years into Moonpig established, the company had almost gone under. Why was this? The cost of the greeting cards was too low.
Therefore he decided to up the prices by a staggering 50%. This might seem like a risk, and they expected sales to plummet, but surprisingly people were happy to continue buying. During this time, guess how many complaints were made? Only three. This shows that if you have an incredible product, you shouldn’t be afraid to sell it for the correct price.
Why Did He Name Is Company Moonpig?
In school Jenkins nickname was Moonpig. This was because his classmates said that his face looked like a cross between that of a pig and the moon. It’s rather interesting to see that a name that seemed derogatory was used to name is multi-million-pound business.
How’s that for a slap in the face for those who seemed to torment him.
Early Life Before Moonpig
Before the of Moonpig.com Nick Jenkins had studied at Haberdashers Adams Grammer School, as well as Birmingham University. This was where he read Russian Literature. Due to his education in Russian, he worked in Moscow for 8 years as a commodity trader in the sugar industry.
During this time though Russia was facing internal threats. Bombs, shoot outs and army trucks, this made business near impossible. He lost many clients and decided to move back to the UK. He then did an MBA and had many different ideas for start-ups.
This was when Moonpig was born.
Family Life
Nick Jenkins is married to Amelia Freer, a top nutritionist in the UK. At the age of 41 she had given up on the hopes of having a child, but in 2017 she gave birth to a gorgeous little girl named Willow. If you are interested in having a look at her page, you can follow her on Instagram.
Which Companies Did Jenkins Invest In On Dragons Den?
Within 2 years Nick had invested in about £842,500 during the show. This amounted to 8 deals in total. Snaffling Pig Pork was one company which he invested in on the show, which eventually made £5,2 Million. This was by far one of his top investments during the show.
Which Investments Failed?
During his time on Dragons Den there were some failed investments. For example, he invested in a dating app which called Double but this failed. He had put £75, 000 into this business venture.
Other investments which failed were:
- Cocofina
- Mason’s Beans
What Is Jenkins Doing Now?
Nick Jenkins has thus stepped down at Dragons Den and is now focusing on his portfolio of educational business technology. He also supports various charities including educational charity ARK and SHIVIA. He lives currently with his family in Wiltshire, UK, in a Grade 1 Listed home.
Conclusion
Nick Jenkins life story is one of success. From starting out small, working hard, and continuing to grow. Even when he had faced failure, he continued to evolve along with his business, thus creating a multi-million-pound empire.
