Piers Linney quits Dragons' Den after just two years

The show's newest Dragon is leaving the popular BBC show. 'I've done what I set out to do,' he says

Piers Linney, Outsourcery chief executive
Piers Linney, Outsourcery chief executive

Dragons' Den investor Piers Linney is to leave the show after just two years, claiming that, "I've done my time and I want to move on".

The technology entrepreneur joined the prime-time TV show in mid-2013 to help refresh the concept, which had started to fall out of favour with viewers.

"I was the first Afro-Caribbean investor on the show, which I'm very proud of," he said. "I wanted to raise the profile of the digital and creative industries, which I feel I have."

He replaced former Dragon Theo Paphitis, while interior designer Kelly Hoppen took over from Hilary Devey.

Linney's resignation follows hot on the heels of Hoppen's announcement last week that she too will be leaving the Den.

Outsourcery's shares have lost the majority of their value over the past year. Despite announcing a landmark deal with Microsoft last year, they are now trading at 22.6p, a far cry from their May 2013 peak of 136.5p.

He is also a member of the Cabinet Office's small business advisory panel, and is working on a number of philanthropic projects, including Work Insight, an impartial digital work placement platform.

"I've got a young family and time is a precious commodity," he said. "I've watched 200 pitches and made nine investments but I've got so many other things going on. I've done what I set out to do; the show is refreshed.

"It's time to move on."

The arrival of Hoppen and Linney boosted the show's ratings, increasing viewer figures by an average of 45pc over series 11 and 12.

Last week, Hoppen claimed that her schedule had grown too busy to commit to the programme. "I have decided the current series will be my last," she said. "I have had a brilliant time and made several successful investments.

“It has been a privilege to be part of a programme which champions entrepreneurs. However, due to a packed schedule and international commitments, including a new venture designing film sets, I sadly cannot commit to the filming schedule. What’s left to say but I’m out?”

Kelly Hoppen has also declared, "I'm out"

Linney commented: "We both run growing businesses. We knew we wouldn't do the show for years."

The 43-year-old technology entrepreneur insists that while he and Hoppen are "close friends", they did not "collude" on their departure times. "I just woke up one morning and thought, it's time to go," he said.

During his time on the Den, Linney has been responsible for the show's highest ever technology investment, staking £100,000 into publishing start-up Lost My Name in exchange for just 4pc equity, which valued the business at £2.5m.

Dragon Piers Linney (centre) with the Lost My Name founders and characters from the books

"Lost My Name is the fastest-growing company to ever come out of the Den," Linney said. "The other Dragons thought their £2.5m valuation was a bit racy but my approach has always been different.

"I saw that it could be worth £100m."

Linney was drafted in to Dragons' Den following the departure of Theo Paphitis. Duncan Bannatyne, the series' longest-serving Dragon, announced his departure last year.

Linney has no idea who might now replace him, he claims, but hopes that "it will be someone who reflects the digital economy the same way I did. That's really important."

"It'll be interesting to see who they get."

While Linney has insisted that he enjoyed his time on the show, he admitted that he was always uncomfortable with being a celebrity.

"People look at you in a different way," he said. "But the celebrity side is down to the extent that you chase it. My business is B2B, so people don't see me and think, I want to buy that product, so I didn't have to embrace that side."

This is not the last time we'll see Linney on the small screen, however. "I've done Secret Millionaire, I've done Dragons' Den. I'll do TV again if it's about something that interests me," he said.