Rachel Elnaugh
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Rachel Elnaugh (born 12 December 1964) is a British entrepreneur, who came to prominence as an investor on the BBC Two TV series Dragons' Den in which hers was the sole female perspective alongside four male Dragons.
She attended Chelmsford County High School for Girls. She originally wanted to take art history, but a bad teacher's reference led to her becoming an accountant instead.
At just 24, she became founder and Chief Executive of the UK company Red Letter Days Ltd, which provides unusual "experience" gifts such as tank driving, record production and aircraft flying.
The company went into administration in 2005; the remaining assets and good will were bought by two of Rachel Elnaugh's fellow Dragons' Den judges (Peter Jones and Theo Paphitis). Although Elnaugh was at the helm before and at the time of the company's failure, she blames the problems on the actions of the last CEO who she appointed in 2002, whilst she took a non-executive role.
ITV 1's "Tonight Programme" had more critical explanation of the demise of Red Letter Days, including unpaid suppliers and disappointed purchasers. The program suggested the business model failed to escrow or earmark supplier payment equity, instead using it for working capital.
As a result of disputes with various Dragons, and the resulting uncomfortable position of the BBC if it allowed a perceived "failed" business person to be on a business panel, she agreed to leave the "Dragon's Den" panel.
Elnaugh is now working as a venture capital adviser and business speaker.
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