I have so many expectations from my life.
And the life at Goa is very slow.
I didn't wanted a slow and dull life.
I used to play a lot of cricket.
But I couldn't scale that.
Then I studied law.
Then I started practicing law.
But I was not enjoying even that.
First I joined my family hotel business.
I quit that in six months.
Then I started my own ventures.
But I was not enjoying my life
I always wanted
to create a product
which will be made in Goa or made in India.
And that has to reach the entire world.
But I had no idea
as to what product that is going to be.
And I always tried to find the same.
So, once I was in a farm
walking around the trees.
Then I saw that.
I understood
that is it.
I got my match made in heaven. Jackfruit.
I started studying about it deeply.
Then I realised that it is not a jackfruit
but a jackpot
with which we can produce several products.
Money is very important.
But more important than that is Sharks.
And I hope all the sharks
like my business idea
and they wish to invest in our business.
Greetings, Sharks. I'm Sairaj Dhond.
And I'm from Goa.
And I'm the founder and CEO of Wakao Food.
You know how an apple
changed Newton's life
and the world got the theory of gravitation.
But you don't know
how jackfruits
changed my life.
And I gifted the world a unique sensation
of taste buds.
I thought
many practice law.
So, I should make the world taste
the unique taste of the jackfruits?
79 percent of the world
has turned vegan.
So, why there is no reason
to satisfy their yearning taste buds?
Houses, restaurants
parties and dates.
Why they haven't updated their menu yet?
Why they don't get an incentive for living a healthy life?
Why no one until now gave them
ready to cook hundred percent natural
mock meat with zero percent preservatives?
Vegetarians will get vegetarian taste.
Non vegetarians will get non vegetarian feel.
And vegans will get uncountable reasons
to try uncountable recipes.
Also, along with 12 months shelf life
it needs no refrigeration either.
Oh! - Many ambitions
but only one goal
and that is to take the jackfruit from my backyard
to the world.
So sharks, invest Rs. 75 lakh
in my company
and get 5 percent equity in return.
And deliver to every house in the world..
Say it with me. Wakao.
Sir, tell me which movie this is.
'Hum Kisi Se Kam Nahi.'
Very good. Full marks..
But you look like Rohit Shetty.
Did anyone ever tell you that?
Yesterday someone told me when I was on the set.
It was an amazing presentation.
Wonderful.
- Thank you so much. - You said you were a lawyer.
- I was a criminal lawyer. - Criminal lawyer. - Wow.
I did that for an year all day long.
Then that got boring.
I decided that I can't do that all my life.
So, you had to do presentation in front of the judge panel.
Yes.
Now he has decided to put us in trouble.
Not at all.
I have decided to take the Shark Tank along.
- Wonderful. - Thank you.
I can see very interesting food here.
- Absolutely. - Can we taste it? - Would you like to?
Definitely.
Give me a minute. I'll bring it. - We'll eat it. No doubt.
Wow!
- Can I give the ladies first? - Sure.
- Dude.. - Wow! - Well done.
Don't do this here. You'll be in trouble.
They all are feminists.
They keep saying equality.
- We don't deny food. - Thank you so much.
The entrepreneur is impressive.
Very.
Don't say that in front of him. His value will rise.
First let him struggle a little.
So this is a Wakao burger.
It is like a slider.
This is a sweet dish.
This is 'Blastkhai'. This is a 'Tat'.
This is a 'Galoti'
- on a Khari. - Okay.
This is 'Kabab'.
'Seek Kabab.'
And this is 'Jackfruit Biriyani'.
Non vegetarians, tell me if this tastes
like non vegetarian or not.
It is very tasty.
I don't think it tastes like meat.
I don't agree with Gazal at this.
The combination with the sauce..
The slider has a typical taste with the sauces.
And it is because of that.
The patty alone does not have anything to do with meat.
I have eaten mock meat based on jackfruit.
This is way better compared to that.
I never thought jackfruit could be so tasty.
From what I know of meat substitute products
try to provide a similar nutritional value.
People want a vegan lifestyle
but with no compromise on protein intake.
Can you tell of the protein intake of this
and the food composition?
0.8 to one gram per 100 grams.
- So negligible. - Negligible.
It is not hard to do.
I am in a pharma company I sell a lot of protein.
Protein powder and shake, it isn't difficult to add.
A huge global brand named beyond meat.
Yes. - What is the difference in this and that?
The product is different.
We are jackfruit.
Correct.
The bigger jackfruit is sweet.
It is of about five months.
We harvest the jackfruit at two months.
Okay. - It is s tender jackfruit.
- It has no taste or smell. - Interesting.
It is very taste neutral.
A parallel to non-veg food would be Basa fish.
One with no taste but takes the flavour of spice you put.
Ss I said in pitch. Vegetarians will get a vegetarian taste.
Non-vegetarians will get the feel of non-veg food.
The texture is since the fruit is fibrous in nature.
Naturally fibrous.
I have to do nothing to make it so.
- Can you show me that box? - Sure. Sure.
- Attractive packaging. - Thank you.
Thank you.
Your goal is to sell jackfruit.
Why would the consumer go for this?
One does not particularly love jackfruit.
There is how the idea came to me.
That jackfruit is an ignored fruit.
Almost 80 percent of India has eaten jackfruit.
My grandma used to feed us this calling this to be chicken.
A dish made from chicken.
So we did eat mock meat for long.
I got an idea. If someone cooks a jackfruit.
one will find out
it is tremendously excruciating and painful.
It takes time to clean a sticky fruit.
It is. - So we bring you ready to cook.
Ready to cook, no preservative and all natural.
- It does have the taste. - Calorie count?
Very light on calories.
You sell for Rs. 350. How much does it cost you?
- Around Rs. 130. - A margin of 60 percent.
- Less, about 50 percent. - 50 percent.
- Margin is on net revenue. - How long have you been at it?
I started sales about ten months ago.
What are the sales?
In tenth months we closed about six million.
In ten months? - Yes. - You have money so why come here?
Two things are strong in India.
One is D2C.
We do not have expertise in D2C.
I want to grow this as this is the market.
Second is HORECA.
HORECA was longing for jackfruit in India.
Oh wow!
I am telling you we have tie ups Pan India.
Hilton, IBs, Oberois.
They approved our excellency kitchen.
So many investors have approached.
But they were not sharks.
Yes. - I am very clear about it.
I need someone to help me scale this up to 100 Crores.
So I have grown up in traditional buisness.
I can barely reach
50 Crores on my own.
I am confident I can get that.
I'll grow even further but then I will be old.
- Kids will have the jackfruit. - I need explosive growth.
I wish to disrupt the market.
I want partners who can help me do that.
I need sharks.
I had a couple of quick questions. - Yes.
What is the global perception of a jackfruit. - Very good.
An American company works with jackfruit.
They came to Kerala and saw the jackfruit.
And we had it all this time
and about 75 percent of jackfruit is wasted in India.
1.4 million tonnes of jackfruit is grown per year.
75 percent is wasted in 16 states.
I find it wrong so I want to do something about it.
My aim is to make jackfruit popular.
And my brand has to become synonymous to jackfruit.
Do me a favour describe yourself in one sentence.
Explorer. - Nice, one word.
My twitter handle has the first word as explorer.
Ghazal, are you interested?
Are you? Just give us a minute.
You can continue.
HORECA is very dangerous.
Stay on guard.
Jackfruit must not turn you jack of all.
Focus and pick a direction.
I am sorry but I am out of this. - Thank you.
I think we have a deal here.
Seventy five lakhs for you at..
- Thirty percent of the equity. - Whoa!
So. Sairaj, I must tell you that
we don't value your HORECA business and exports.
Because, your HORECA business is good for acquisition
and to build awareness.
You have to make it a 'D2C' brand.
Ghazal, Namita, and I have built many brands
during our careers.
For that, you need two things.
You need a good team.
And you will have to increase your margin.
Because, if you want to invest in marketing
you will have to make it in 90 rupees.
Sairaj, I say that they are the three mothers.
The mother of 'Sugar Cosmetics'.
And she owns a pharma business.
And she owns 'Mamaearth'.
So, you are getting three mothers..
For the price of one.
Power of three moms.
Blessings of a mother and her support
- is greater than anything. - Sairaj, you tell us.
I am standing here today because of my mom.
- So.. - Very good! - Great!
I don't have anything to say on that.
But please don't call us mom.
I don't think that you should dilute 30 percent.
Because, this business needs capital.
You need money for this business.
You will need a lot of money.
I will give you 15 lakh rupees.
As equity, I will take five percent stake.
And the remaining 60 lakh rupees can be a loan
at 12 percent rate of interest.
Sairaj, three sharks versus one.
There is another option.
I can invest twenty five lakhs for ten percent equity.
And give you 75 lakhs as a loan.
You have brought the rate card and the menu.
Absolutely.
Think before you make a decision.
So..
Would you like to take a minute?
Yes, I will just think.
- Yes. - Sure. - Sure.
I am even willing to go solo at 20,
- Sure.. - I think, 20 is a good value.
He has to be ready for 20.
Not at all 30 in my opinion.
If he gives away 30, it will be foolish.
Welcome back.
Please consider what I am going to say.
I think that 30 percent will be too much.
I cannot do that. How is that possible?
We won't be able to grow that fast. - Yes.
We will keep it minimal and grow together
to make it big. That is the idea.
So, that is what my offer is based on.
What is the offer?
You can have 15 percent for 75 lakhs.
I want all three of you.
And I am honest about it.
Since you brought in the aspect of mother..
- But.. - You can thank me for that.
- I think that I should be out. - No, sir.
Your offer is great. But there are three of them.
Would you accept it, if I make the same offer?
Whoa!
You have two offers. Quick decision.
Honestly, I won't accept it.
Because, their expertise is in the field
that I really want to grow in.
I will make a counter offer.
Seventy five for twenty one.
So, at least, we will get seven each.
- Substantial.. - It's a request.
Please don't negotiate.
- I am asking you.. - We are requesting you.
- No.. - Don't negotiate.
I will tell you what I am thinking.
I will be very frank. I have nothing to hide.
We are all on one team. I think, it's almost done.
So..
What a confidence?
I am holding the cheque. Should I write it or not?
I will close it. I will close it.
- Let's.. - Seventy five lakhs
- at twenty one percent. - Let's do one last..
- Oh God! - Just hear me out. - Sure.
Just hear me out. One crore at twenty percent.
That's not bad.
What will you gain from giving away so much equity?
Do you want to talk?
You had also diluted 40 percent in the first round, didn't you?
Yes, but I had raised 28 crores in the first round
- for 40 percent. - Okay.
- That's the difference. - That's the difference.
The business can reach a certain scale with 28 crores.
And it was a different time.
Equity, when you are building a company
is the most precious thing.
We have made many mistakes.
And we are still paying the price for it.
You shouldn't make the same mistake.
My threshold is being breached.
So, I am out of this deal.
But those two have an offer for you.
We will give you 75 for 20 percent.
We cannot go any lower, given your revenue.
- Tick tock.. - But why did you leave?
It was the same deal.
So, 75 lakhs for 21 percent still stands.
Do you promise me that we will
go to around 150 crores very soon? - Of course.
It's a deal.
- All right. - Great! - Perfect!
- Congratulations. - 'Wakao'!
Trust me, my friend. You won't regret it.
- Thank you.. - You have three mothers
with you.
You have heard the saying, famous last words, trust me.
- Trust me. - Just shut up.
Why are you speaking?
- Let's do it. - Awesome! - Thank you.
- Wow! Three women.. - Thank you.
- Thank you. - Well-done! - We love your product.
- Good entrepreneur. - Thank you.
Here you go. Congratulations!
So we will have to do the 'wakao'.
- We have to do the 'wakao'. - Oh, yes!
- Music.. - Music. - Play the music.
'Wakao!'
Superb!
- Superb! - Thank you.
- Congratulations!
- Thank you.- Congratulations! - Congratulations!
- Oh, yes! - Congratulations!
Finally, we have made it happen.
Let me just do this once.
'Wakao!'
- Thank you. - Awesome..
- I love his energy. - We will have so much fun
- working with him. - Women power..
It's a case study of women power.
Wow!
I would have gone solo at 20.
Sharks, greetings.
- I am Sneha Visaria. - Sharks, greetings.
I am Chirag Visaria.
Before I start
can I serve you 'Karanji' prepared by my mom? - Wow!
Please.
Food prepared by your mom!
That too, baked.
Healthy food. Wow!
- Ma'am, can you please pass it? - Sure. - With the box?
Sure.
For an Indian family
this is not just a stainless steel box.
This is an emotion.
'Dal dhokli' used to be sent in this box from our house.
And we used to get 'Payasam' in return.
Sometimes, this box used to be sent to our neighbour
Ms. Chabra. And sometimes
to our neighbour, Mr. Patel.
And mom used to get lots of praise in return.
'Aloo Paratha, Poori Bhaji..'
Everything used to be sent in stainless steel boxes.
But those memories and stainless steel boxes
disappeared with time.
And these boxes are replaced by plastic wear
and disposable boxes.
We, in the form of PDD Falcon
have brought back non-toxic, food safe
and eco-friendly stainless steel
with innovative premium quality.
Redefining truly stainless.
Today's Generation X mothers
want to include sustainable and safe products
in their lifestyle.
Hearing their problems
we have introduced more than 300 products in Falcon
with the goodness of stainless steel.
We have manufactured airtight, leak proof
Eco Next containers with steel lid.
We have given Falcon's baby section a sub-brand name
Joy and Zoee.
We are proud to say
we are a hundred per cent make-in-India brand.
We use steel that shines.
This is just the beginning.
It's going to be a long journey.
We need your guidance.
We have come here to ask for Rs. 75 lakh
for 3 per cent stake in our company.
Would you like to help this Falcon fly?
- Sneha and Chirag. - Yes. - Welcome to Shark Tank.
Will you tell us about yourselves?
Ma'am
we are husband and wife, life partners
- and business partners. - Very nice!
It was his family business.
And my father-in-law involved me in the family business.
- Wow! - And I got the knowledge
of stainless steel manufacturing.
My father-in-law inducted me into a male dominated industry.
He taught me and trained me.
So that I can take the company forward.
In August, 2016
he left us one night all of a sudden.
It took one year to get adjusted to this.
On his first death anniversary
Chirag and I thought that fulfilling his dream
will be the true homage to him.
My father-in-law's dream was..
We manufactured stainless steel components for other brands
for years.
We should start our own brand.
So that end customers know us by our brand name.
Hence, we started PDD Falcon
redefining truly stainless.
My dad's vision was to make a quality product.
Keeping his vision in mind
we designed and manufactured the products.
We need to increase our quality and production further.
- Are you with me? - Yes!
We thought of preparing just lunch box.
And there is a story behind that.
Because we were in supply business.
There were 6000 pieces
which Chirag sir wanted to scrap.
Chirag sir!
Yes, he is known as Chirag sir.
- And I call her Guruma. - Amazing!
- Even we will call you the same. - No, ma'am. Just Chirag.
So those pieces were about to get wasted.
But my Gujarati mind didn't want to do that.
Then I felt that I take my son to the garden every day.
I used to carry the old stainless steel box
which was not presentable.
Secondly, he is playing
and I am struggling to open the box.
To avoid that embarrassment
we manufactured the first lunch box
lunch box container. You can see it here.
It's known as 'Tough'.
Then begun the real journey
of Falcon.
Our experiences helped us build steel sipper.
Then we put a steel straw in it
because usually
we don't get a steel straw in a sipper.
For kids a steel straw
much safer than a plastic straw.
One of our friends raised a concern
as to what will we do
if someone's jaw gets hurt by the steel straw.
That's why we gave it a silicon cover.
Then we learnt that
dirt may penetrate
when we carry them outside.
So, we gave it a steel lid.
Then customers asked us
how to clean this straw.
So, we added a steel straw brush.
We kept evolving like that and in no time
we had 300 products.
Amazing.
So, Chirag and Guruma
you both are creating great products.
But the branding is very bad.
Tell us a little about the sales.
Turnover in 2022
was two crore forty two lakh rupees.
Wow! Good.
In 2019 to 2020
we had two crore seventy two lakh rupees.
In the first year we were at ten lakh rupees.
What's the projection for this year?
We already have crossed two crore forty two lakh rupees.
And we expect to close at four crore sixty five lakh.
Fantastic.
Also, you said that you've 300 products.
What are your two or three
top selling products? Tell me the reason too.
Ma'am, can I show you the products? - Please.
I want to see the sipper.
I want to see the feeding bottle.
I think that's one of their top products. - Okay. - Yes, ma'am.
Ma'am. - Sipper is one of your top products, right?
You might have seen a lot of vegetable choppers
with plastic body.
We built a vegetable chopper
with stainless steel body.
It has one more speciality.
This can separate
cilantro's seeds.
Oh! - My mother-in-law uses this
every single day.
So, all the products you all are holding
- are our top selling products. - Okay.
So, from your
overall proposition I realised that
you are a steel based tupperware alternative.
Exactly, sir.
This makes you sustainable
- and ecofriendly. - Yes.
I have a one and a half year old son. - Okay, sir.
I have noticed that my wife uses only steel products
to feed my son.
Until my wife takes
decision for my son Ivan
he will be using such products.
But when he starts going to the school
he may hesitate a little to carry this.
That's why we built these sipper bottles.
Have you done a coating on this?
- Yes, sir. - That's a food grade color.
Why didn't you do this branding on all the products?
Vineetha also raised a point
that your brand is weak.
Steel is very good.
But young generation doesn't like it much.
- They hesistate a little. - You are absolutely right.
But we have experienced that
people prefer both.
- Okay. - That steel bottle
is little better than the ordinary steel.
Every product has gone through a minimum of 13 to 15 processes.
And 200 to 300 hundred people are involved in
the development of such products.
So each product is unique in itself.
We want to build an impression
that good steel means
Falcon steel.
But your competition can build all these products.
Nothing among these is patented
to prevent people from copying it.
Mr. Chirag, what's the gross margin?
It's 30 percent.
Why so less?
It should be very high as you manufacture them.
Is 30 percent less!
Yes.
Because you manufacture on your own.
That's their point and they are right.
Chirag and Guruma, unfortunately I've decided.
When gross margin is less
we have very limited amount of money
to spend on marketing.
The money that we need for marketing comes
from the gross margin.
So, I think it is a category issue.
That's why I won't be able to participate with you.
The new generation is not moving
towards such products.
So, there we have to create a category
which is very expensive
when the gross margin is so less.
I want to leave from this.
I'm sorry.
I also took the decision.
The other products
are not unique
and that's why I'm out.
But I wish you the very best.
This is a very
non cool category.
Especially in the current millennium.
You should bring the coolness factor in your brand
if you really want to build it.
And then eventually you will have less competition.
Till it is mixed, it will not become a brand.
So, I am out.
I am the only one left.
First of all, tell me..
I don't think that you lack money.
Yes. - So, what are you looking for on this show?
Ma'am, we have come here to get your mentorship.
How to market the product..
How to take it to the next level..
We have product strength.
We can make whatever you say.
You will get that finesse.
We have come here for the marketing..
...for the mentorship and for the tie-up.
Ma'am, only the stainless steel sippers
could have such a large range
that one single consumer could use three products
from 'Falcon'.
A single Indian family utilises 200 kilograms of steel
on an average. This is a standard norm.
- Wow! - What is the market size?
Market size for only this segment of tiffin boxes..
This is a 5000 crore industry in just steel, sir.
Such a huge market.
Mr. Chirag, Ms. Sneha, I will give you 30 lakh rupees.
in exchange for 10 per cent equity.
- Oh! - And the rest of the amount..
I will give you as a loan
on which you can give me interest.
What is the interest rate?
Interest rate is 12 per cent.
That's too high, ma'am.
That's too high?
They take credit from the bank. That's the reason.
Ma'am, if you could give us two minutes, please..
Sure. Please..
Ghazal, they have painted the sippers with colours
like neon, pink, green and yellow..
If they coat the rest of the things also
then that will do it.
I always tell you that product is my strength. - Yes.
How to make the product.. I will figure that out. - Yes.
- I will make it beautiful. - Yes. You have to just
rework on the design.
How much is the difference..
- It would be the same. - Six..
With marketing I can make the brand
- with the name 'Falcon'. - Yes.
Yes.. Mr. Chirag, Ms. Sneha..
What is your decision?
See, the loan component.. So.. No.. Okay?
Second, ma'am, we don't want to liquidate the stakes so much.
Six per cent for 75 lakh is okay.
30 lakh is totally..
That would be a 12.5 crore valuation.
If you take six per cent.
Just FYI. - We will definitely make it next year.
For 75.. We'll get that turnover. - Otherwise..
Otherwise, you will get your entire money back
with interest.
- Oh! - Wow!
Very nice.
I will give you 75 lakh. Let's remove the debt.
For 11 per cent equity with this clause..
...which you just said..
...that if you can't make it to 12 crores
then you will return the entire amount with interest.
This will be written on the contract.
- Sure. You can write that. - Of course.
Ma'am, I keep my word.
Ma'am, we don't want to liquidate
more than six per cent.
I can't take any less than 11 per cent.
- That won't be possible for us. - Sorry, ma'am.
- That's okay. - Thank you so much.
- I am really glad to meet you. - Thank you for coming here.
- All the best.. - Thank you so much.
- Thank you. - Thank you so much.
Hi, Sharks. My name is Aamir Mulani
and I'm the founding CEO of Playbox TV.
My name is Soham. I'm the creative head at Playbox TV.
We are from Mumbai.
Sir, do you know what's the biggest problem in India?
Every house in India has a different content requirement.
Bunty likes to watch the match, but his sister likes movies.
Dad likes watching the news and mom likes daily soaps.
And they are paying different subscriptions for each.
Sometimes OTT streaming subscriptions
or sometimes for cable TV.
And despite paying for so many subscriptions
they can't watch this on one platform.
If you want to a show, use a set-top box for cable TV
or if you want to watch something on OTT
download multiple apps and then search.
To solve this problem we have Playbox TV.
Sharks, you can download Playbox TV on your phone
to watch on your phone and at the same time
if you want to watch it on your TV
then you can download it on your Android TV store
or Fire TV store too.
So can I watch web-series?
Tell me which one you want to see. I'll search for you.
'Scam 1992'.
So here is the search button.
I'll search for 'Scam 1992'.
Here is 'Scam 1992'.
With a click of a button
we'll play it in the app.
This is fine on the phone, but I want to watch it on TV.
What do you want to watch on the TV?
Let's watch Shark Tank.
Sharks, we can search for Shark Tank
and from which platform is it available.
And how many seasons does it has.
At the same time on a click of a button
you switch to live TV.
And you can do this through our app on your smart TV.
Let's play Sony TV
and this is what Sony channel is.
It's playing now.
You can watch any channel like this.
You can search for more than 40 streaming services
through this app
you can watch multiple apps through a single sign in
and all this on a single subscription.
That too on a discounted rate.
Now the question is how will we do all this?
Who has taken care of entertainment all these years?
From the first season of 'Mahabharat'
to 'Sooryavansham' on SET MAX.
- Our Manish. - Who is Manish?
Manish is our local cable and internet operator.
It's the same Manish who, be it rain or storm
has always been with us
and played an important role in providing us entertainment.
Sir, Manish is the one who'll help us reach every house.
Because he knows us since many years
and our customers.
So in this changing OTT revolution
partners like Manish and I
will deliver Playbox TV to every house
and make a single entertainment gateway.
We are here seeking one crore
inexhange for 3.5 percent equity. - Wow!
This is the truth of life
that it has it's needs every time.
Sometimes it makes us laugh sometimes, it makes us cry.
Sharks, this is Playbox TV
which unites us will our family.
- Wow! - Wow!
Sharks, are you ready to take a flight of your life?
Very good..
At least I have a this problem with multiple remotes.
I always tell my husband that we have five remotes.
We need one remote per hand.
This is hard work.
Since JioTV has integrated everything
- it has become very easy. - Yes.
Is this still a real problem behind which you're working?
Basically, the 30 year old cable operator
who used to sell cable TV has started internet today.
He's not able to give anything apart from the internet.
Who is he competing with?
As you said, Jio fiber, Airtel fiber and other players.
I'll tell about a universe.
In India, 2.2 crore houses have broadband internet.
Just 2.2 crore houses
but there are more than 10 crore cable TV homes
who are playing subscription for video.
These broadband partners who have 2.2 crore homes
occupy 50 percent of the market.
That is Jio, Airtel
big players like Hathway, Den and all of that.
But Manish or Sita broadband
own 50 percent of the market
and they are still delivering services to homes.
So you sell to cable operators
and they sell it with some commission. - Yes.
Our model is very simple.
We tell cable operators and internet operators
since their cable connections numbers are decreasing
buy the Playbox TV's OTT platform
bundle it with your internet and give them subscriptions.
They want to give some OTT
because their customers are being taken by big Telcos.
That is why they come to me.
I give them bundle from Rs. 99 to Rs. 399
as per the customer's plan right from 5 Mbps to 500 Mbps.
So this is a declining market as per connections.
As far as I understand there are two things here.
One is that people aren't just switching to OTT
they are switching to better connections
for better service and all the conveniences.
So a cable operator struggles to provide that.
How will you compete in this declining market?
I don't understand this.
Though cable TV market is declining
the broadband internet market is increasing rapidly in India.
But if you use a Firestick from Amazon
- you'll get the same service. - This is what I wanted to say.
- Firestick does the same. - That's right.
I'll tell you that we are ahead of fire tv.
Fire Tv is just aggregating content, I bring subscriptions.
Today in our 399 pack I am giving you
Amazon prime, Amazon music, Amazon Shopping.
Plus Sony Liv premium and ZEE5 premium content.
Voot select, Shemarro, Epicon plus 350 live TV channels.
- Included in your subscription? - Yes.
We have made 87 partners in India.
And we have currently 26000 users on our platforms.
So you have tie up with Sony and Zee.
Yes, I partnered with everybody.
Netflix is most expensive. What of that?
Now that I am here, Netflix will be on board.
- Give me the numbers. - Numbers.
Last month revenue was 87 lakhs.
Not bad. - Before that it was 62 lakhs.
Before that it was 59 lakhs.
Before that it was 53 lakhs.
Once you reach a few million, JIO will give broadband for free
and the free aggregation.
And hence the moment they sense you getting good
they might tie up with cable operators.
That is what I fear. They may acquire you.
I find it risky to invest ten million in this.
So I am out.
Your business is customer acquisition engine.
Dependent on local cable operator.
They are all getting consolidated
Jio and Reliance have brought many.
So for how long will this go on?
It may grow a bit for sure
but this is going to end.
Forgive me, I am out. I wish you the best.
Do you have an investor for this valuation
or a prior round of investing?
This is our first round.
We have a strategic partner in our company
- who is also an ISP. - Who is it?
Microscan company from Mumbai.
It has 2000 km underground fibre network in Mumbai
being one of the biggest wholesale bandwidth sellers..
Got it. What percent ownership they have?
It is around 40 percent and mine is 60 percent.
So I cannot relate o the product
So I am out I wish you the best. - Thank you.
Amar, I invest in business where I understand the product
and that a major problem is being solved
in a unique way.
And hence I am out.
So tell me what is your mode?
Why can no one else do this? Is no one else doing it?
Jio is doing it for themselves.
Jio and any other players like you?
Right now in ISP space, we have a few.
F TV scope is in this.
So you are making a company that Jio can buy.
No, sir, that is not it. Time will tell.
But you are ready?
What do you have that no one else can copy?
So we have that once I get a partner on board
they work with me since I am not from the broadband background.
Can be an issue of mindset.
I am not entering their market space.
So we have our strength
that in this unorganized cable operator sectors
there is no such platform.
They are with me as they cannot make this tech for themselves.
How does broadband market work?
Class A license holder brings submarine cables home
and then there are three layers to reach local operator.
Class, A, Class B and Class C ISPs.
But the last mile operator has fibre in every home.
So it holds monopoly over customer.
They are such folk that hold a good market.
Plus the price point.
Local operator has Rs. 100 as cost
since no more operation cost.
That is why he gives service.
Local partner can get you help any time internet is down.
And that is why he can come anytime.
Jio and Airtel cannot.
I trust them more than anyone.
They have lot of opportunity to get skilled
and get organized and aggregate to a platform.
I'll give you an offer.
You own 60 percent.
Microscan holds 40 percent.
- Who makes decisions? - I will.
- You will? - For certain, sir.
So I cannot be a small investor. It is early stage.
And a declining market.
So my offer is five million for 20 percent equity.
And five million as loan. I bring strategic help.
Loan at what interest?
That will 12 percent per year.
You got no profit so it is a risk I will take.
- You may discuss. - May we please?
- 2.5 Crore valuation. - No revenue.
That is a good valuation.
That is not what I am in.
This will be sold.
- It will be sold. - He is a decision maker.
We do not want a loan.
Let me tell you why I am investing here.
It is fast growing.
Before you speak, I got a question for you.
What is your role in the company?
Creatives, PR and marketing.
How did you two meet?
He is the son of Sandip Dhonde who is owner of Microscan.
I am out before you answer.
Let me tell you why.
You should have disclosed it first with us.
Okay.
I asked you who is decision maker.
I am the one, sir. - Let me tell you, apart from money.
I want to live stress free.
Multiple owners and he has 40 percent equity.
I respect him.
Multiple decision making is worse, I experienced it.
I think I am successful at Lenskart
since we are very clear over decision making.
I have seen many start ups and invested in many.
With great product and technology.
And I never knew it can go bad.
But because decision making was not well.. - Sir.
- Thank you, sharks. - We are done.
- Thank you. - Thank you.
- Thank you, best of luck. - Bye.
A good man though.
He was good but..
A very valid point.
- Had he not kept it from start.. - It'd be different.
- It would be different. - That was bothering me.
I'll be very honest. So I told you..
It was bothering me of the share of 40 percent ownership.