SHARK TANK INDIA 4 PITCHER WITH 400 ACRES OF FAMILY LAND PUTS ANUPAM MITTAL ‘IN HIS PLACE’, GETS CALLED ‘LAADLI’
The fourth season of Shark Tank India kick-started this week, and already, Peyush Bansal has broken the show's record for the biggest-ever investment, by spending Rs 5 crore on the lifestyle accessories brand NOOE. Peyush returned on the panel of 'sharks' for episode four, which also featured Anupam Mittal, Vineeta Singh, Aman Gupta and Varun Dua. They fielded a pitch from cousins Preeti and Sayali, who presented their jaggery brand Gudworld, and asked for Rs 50 lakh in investment, in exchange of 2% equity, valuing their company at Rs 25 crore.
Immediately, all the 'sharks' were impressed by Preeti's precise communication skills, and her natural leadership qualities. Vineeta praised Preeti for putting Anupam in his place by controlling the narrative. But Vineeta disagreed with Aman on some key aspects of the business. While the cousins were quite determined to prove that their strategy of marketing their products by giving credit to store owners is the best way forward, Vineeta felt that this is a recipe for disaster. Aman sided with the entrepreneurs, and said that they need to build awareness for their products, and have no choice but to be lenient with credit. "Aman, let me finish, you can speak when it's your turn," Vineeta told him.
She backed out of the deal, citing these issues. Peyush and Varun also backed out, citing the involvement of their family as an issue. Preeti and Sayali had revealed that 30% stake in the company is owned by their brothers-in-law, and that they source raw materials from their 400-acre family land. They also revealed that seed funding of Rs 4.5 crore was put up by their family, and that they currently share office space with the family business. Preeti said that she could easily convince her family to dilute their stake, and assured the 'sharks' that they wouldn't interfere with operations. Aman saw this as an opportunity.
He offered them Rs 50 lakh in exchange of 6% equity, and the entrepreneurs seemed to be interested in having them on board. "You are the king of e-commerce, and we would really value your mentorship," Preeti said, asking for a couple of minutes to discuss the offer. They countered by asking for Rs 50 lakh in exchange of 3% equity, but Aman said that it wouldn't be fun for him on those terms. He offered to drop his ask to 5%, and got up from his chair to shake hands with the entrepreneurs. Preeti told him to slow down. "Ek second ruk jao," she said, getting Aman to return to his seat. Vineeta laughed, and praised her once again for her strong personality. After contemplating the offer a little longer, Preeti said that she doesn't want to haggle further, and agreed to Aman's terms.
As the two cousins left with a deal, the 'sharks' discussed the pitch among themselves. Aman was very pleased about the vast amount of resources that they have at their disposal. "Sab apna hai," he said, adding that nobody in the family would dare get in Preeti's way. "Laadli hai," Anupam said.
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2025-01-10T07:05:36Z