1 00:00:30,000 --> 00:00:32,840 [theme music playing] 2 00:00:50,400 --> 00:00:53,040 [theme music continues] 3 00:01:18,480 --> 00:01:21,160 [theme music fading] 4 00:01:27,320 --> 00:01:28,440 Hello, Sharks. 5 00:01:28,720 --> 00:01:31,280 Sharks, I am fed up with my scrap dealer. 6 00:01:32,640 --> 00:01:34,600 Do you get worked up thinking about 7 00:01:34,680 --> 00:01:37,760 whether your scrap dealer's weighing scale is functioning properly? 8 00:01:38,120 --> 00:01:41,200 Whether his rates would be as per the market or not? 9 00:01:41,360 --> 00:01:43,840 Does your scrap dealer come over at a time convenient to you 10 00:01:43,880 --> 00:01:45,360 or as it fancies him? 11 00:01:46,400 --> 00:01:49,920 Moreover, as a responsible citizen, the most important thing is 12 00:01:50,000 --> 00:01:52,640 whether your scrap will even be recycled or not! 13 00:01:52,680 --> 00:01:53,640 Hmm. 14 00:01:54,240 --> 00:01:57,520 Scrap dealers don't know if they'll get work daily. 15 00:01:57,640 --> 00:02:01,360 Customers call them to give scrap but send them empty-handed. 16 00:02:01,400 --> 00:02:02,840 [music playing] 17 00:02:03,240 --> 00:02:07,600 Sharks, customers and scrap dealers face these problems 18 00:02:07,760 --> 00:02:10,920 because this sector is extremely unorganised as well as neglected. 19 00:02:11,320 --> 00:02:14,720 Sharks, don't you agree that when local stores can sell online, 20 00:02:14,840 --> 00:02:16,520 then why not scrap dealers? 21 00:02:18,160 --> 00:02:21,800 I come before you with a solution to all these problems, Sharks. 22 00:02:28,920 --> 00:02:31,480 This scrap dealer doesn't holler. 23 00:03:13,160 --> 00:03:17,480 My ask is Rs. 60 lakhs for 3% equity. 24 00:03:24,320 --> 00:03:26,080 [Sharks laugh] 25 00:03:26,280 --> 00:03:28,120 - Welcome to Shark Tank, Mukul. - Thank you. 26 00:03:28,200 --> 00:03:29,920 Tell us your educational background. 27 00:03:29,960 --> 00:03:32,600 How did you think of this idea at such a young age? 28 00:03:32,600 --> 00:03:33,760 People normally don't. 29 00:03:34,080 --> 00:03:37,280 Sir, actually, I've done BTech from IIIT-Delhi. 30 00:03:37,520 --> 00:03:39,480 I ran a start-up of drones before this. 31 00:03:55,400 --> 00:03:57,000 The drone start-up didn't work out. 32 00:03:57,120 --> 00:04:00,440 ScrapUncle had been on my mind for a really long time. 33 00:04:00,440 --> 00:04:01,640 The idea was in my head. 34 00:04:01,720 --> 00:04:03,760 I was interested in robotics since childhood. 35 00:04:03,920 --> 00:04:05,640 My uncle is a scrap dealer. 36 00:04:15,360 --> 00:04:18,560 I got a fair idea about how the sector functioned. 37 00:04:18,720 --> 00:04:19,840 When I moved to Delhi, 38 00:04:19,840 --> 00:04:23,440 I noticed unorganised sectors were being converted into organised ones 39 00:04:23,440 --> 00:04:25,120 by Swiggy, Zomato and others. 40 00:04:25,320 --> 00:04:27,880 I thought about which services were yet to be offered online. 41 00:04:28,000 --> 00:04:29,640 Then I thought of scrap dealers. 42 00:04:29,640 --> 00:04:32,840 This is an everyday thing but hasn't gone online as yet. 43 00:04:32,880 --> 00:04:34,720 I began my research. 44 00:04:34,840 --> 00:04:37,080 I explored all the scrap markets there were. 45 00:04:37,200 --> 00:04:39,360 Then we established ScrapUncle. 46 00:04:39,720 --> 00:04:41,240 [music playing] 47 00:04:41,480 --> 00:04:42,520 What does your family say? 48 00:04:42,600 --> 00:04:45,240 They thought you'd do well after studying at IIIT Delhi. 49 00:04:45,280 --> 00:04:48,600 But when someone asks, they have to say 50 00:04:48,640 --> 00:04:49,960 that you deal in scrap. 51 00:04:50,360 --> 00:04:51,840 Let me tell you what happened, sir. 52 00:04:51,920 --> 00:04:55,640 I won awards for my drone start-up. 53 00:04:55,680 --> 00:04:57,000 I even went to the US twice. 54 00:04:57,200 --> 00:04:59,600 So, they were convinced that I was intelligent 55 00:04:59,640 --> 00:05:00,720 and I knew something. 56 00:05:00,800 --> 00:05:01,880 [chuckles] 57 00:05:01,960 --> 00:05:03,280 But the problem began 58 00:05:03,320 --> 00:05:06,240 when I brought scrap dealers to our apartment. 59 00:05:06,280 --> 00:05:07,880 [Sharks laugh] 60 00:05:07,960 --> 00:05:09,920 - To understand the business. - What! 61 00:05:10,120 --> 00:05:11,760 So, they lived with you! 62 00:05:11,880 --> 00:05:13,480 They still do. 63 00:05:13,800 --> 00:05:15,360 [laughs] 64 00:05:16,400 --> 00:05:18,120 Explain to us in detail. 65 00:05:21,320 --> 00:05:22,560 [Sharks laugh] 66 00:05:22,640 --> 00:05:24,960 - You brought the haven home! - You brought it home! 67 00:05:25,120 --> 00:05:27,760 When we started, we followed the Uber model 68 00:05:27,840 --> 00:05:30,560 in which we onboarded local scrap dealers on the app. 69 00:05:32,360 --> 00:05:33,960 This has only gone from offline to online. 70 00:05:34,040 --> 00:05:37,120 But the problems of weight, quality of service 71 00:05:37,240 --> 00:05:39,520 and on-demand still persist. 72 00:05:40,520 --> 00:05:42,680 During the first wave of covid, we realised that 73 00:05:42,680 --> 00:05:44,760 this was a recession-proof business. 74 00:05:44,840 --> 00:05:46,880 It grew by 4x at the time. 75 00:05:46,920 --> 00:05:50,760 People were just sitting at home and decluttering. 76 00:05:50,960 --> 00:05:53,640 And any extra money was welcome. 77 00:05:53,680 --> 00:05:55,200 That's why our orders increased. 78 00:05:56,360 --> 00:05:58,040 I realised another thing. 79 00:05:58,160 --> 00:06:00,800 I studied the competition in this sector 80 00:06:00,960 --> 00:06:02,440 for their failures. 81 00:06:02,560 --> 00:06:06,960 They had introduced the tech, but they didn't know the business. 82 00:06:07,040 --> 00:06:08,400 When I met them, they confirmed 83 00:06:08,400 --> 00:06:10,080 that they didn't know much about the sector. 84 00:06:10,120 --> 00:06:13,120 They brought in the technology and the scrap dealers came on board. 85 00:06:13,200 --> 00:06:16,120 But they didn't know the business or how a scrap dealer made money. 86 00:06:16,200 --> 00:06:17,520 Then I realised 87 00:06:17,520 --> 00:06:20,240 I'd have to immerse myself in this if I want to do the business. 88 00:06:20,320 --> 00:06:21,520 So what I did was... 89 00:06:21,600 --> 00:06:22,440 Bring them on board! 90 00:06:22,520 --> 00:06:24,640 I found two scrap dealers. [chuckles] 91 00:06:24,720 --> 00:06:26,880 - He's laughing. - I hired them. 92 00:06:30,680 --> 00:06:32,600 How else would I learn from them? There was no time. 93 00:06:32,680 --> 00:06:35,240 - They do pick-ups from morning till night. - Yes. 94 00:06:35,320 --> 00:06:37,360 But I wanted to know the business in depth. 95 00:06:37,640 --> 00:06:40,640 I wanted to ask them what problems they faced during the day. 96 00:06:40,720 --> 00:06:43,560 What did the customers say and how did they like the service. 97 00:06:44,320 --> 00:06:46,560 I need time for it. They return at 9 pm. 98 00:06:46,760 --> 00:06:49,040 So, I spent time with them during dinner. 99 00:06:49,440 --> 00:06:51,040 - That... - Hats off to you! 100 00:06:51,160 --> 00:06:53,280 - Amazing. - I can't figure out 101 00:06:53,360 --> 00:06:55,600 - if you're mad or just proficient. - No... 102 00:06:55,680 --> 00:06:57,440 - No, sir... - But hats off to you! 103 00:07:01,760 --> 00:07:03,960 Can you tell me how much money who makes? 104 00:07:03,960 --> 00:07:04,960 Here's what happens. 105 00:07:05,000 --> 00:07:07,840 A normal scrap dealer on a cycle visits the neighbourhood 106 00:07:20,040 --> 00:07:22,080 For instance, one who deals in paper takes only paper. 107 00:07:22,160 --> 00:07:23,800 Similarly, you have metal scrap dealers. 108 00:07:23,880 --> 00:07:26,720 Then there are people with money and power 109 00:07:26,960 --> 00:07:29,040 who get things done on the phone with the help of money. 110 00:07:29,080 --> 00:07:30,360 This business runs on credit. 111 00:07:30,400 --> 00:07:32,600 The payment from the recyclers comes in late. 112 00:07:32,680 --> 00:07:34,320 We eliminate those few players... 113 00:07:34,440 --> 00:07:37,080 - Which players? - Those with money and power. 114 00:07:37,360 --> 00:07:38,320 Okay. 115 00:07:38,600 --> 00:07:39,600 Apart from that, 116 00:07:39,680 --> 00:07:42,360 we have directly reached the recyclers in some cases. 117 00:07:42,480 --> 00:07:45,280 In which cases have you directly reached the recyclers? 118 00:07:45,360 --> 00:07:46,800 Iron and electronic waste. 119 00:07:46,920 --> 00:07:48,320 That's a lucrative vertical. 120 00:07:48,480 --> 00:07:50,080 Sir, on average, 121 00:07:59,440 --> 00:08:02,440 How much did a scrap dealer normally make? 122 00:08:16,000 --> 00:08:18,080 Your collection partners do all the pick-ups, right? 123 00:08:18,160 --> 00:08:20,000 Let me explain. Earlier, it was just our dealers. 124 00:08:20,040 --> 00:08:21,360 We then discontinued it 125 00:08:21,440 --> 00:08:23,320 - and made pure collection partners. - Okay. 126 00:08:23,400 --> 00:08:24,760 Who are mini truck owners. 127 00:08:24,840 --> 00:08:27,600 - Okay. - Regardless of whether he's an existing scrap dealer. 128 00:08:31,600 --> 00:08:33,040 I am aware only of Delhi. 129 00:08:33,040 --> 00:08:34,800 - How many are there? - Around 12,000. 130 00:08:34,920 --> 00:08:36,200 - 12,000. - Yes. 131 00:08:39,680 --> 00:08:42,440 If we talk about Delhi alone, it's a 2 billion dollar market. 132 00:08:51,320 --> 00:08:53,640 - the business should have been way more than this. - Yes. 133 00:08:53,720 --> 00:08:54,960 What are the restrictions? 134 00:08:54,960 --> 00:08:57,440 Sir, firstly, we are bootstrapped. 135 00:08:57,440 --> 00:09:00,960 And you have this fear when taking up a fresh expense, 136 00:09:00,960 --> 00:09:02,280 given our mentalities. 137 00:09:02,920 --> 00:09:05,520 A lot of money is stuck in the working capital. 138 00:09:05,600 --> 00:09:07,480 Apart from that, we even bought vehicles at the start. 139 00:09:07,560 --> 00:09:10,760 You mentioned the problem of working capital. 140 00:09:10,840 --> 00:09:12,440 - Yes? - About not getting credit. How did you solve it? 141 00:09:12,440 --> 00:09:13,800 Did you borrow money from your dad? 142 00:09:13,880 --> 00:09:17,000 - How did you solve it? - No, we got a grant from Columbia University. 143 00:09:17,080 --> 00:09:18,760 It was around Rs. 23 lakhs. 144 00:09:18,880 --> 00:09:21,640 - Was it purely a grant or did you give equity? - Yes? 145 00:09:21,720 --> 00:09:24,080 No, Rs. 23 lakhs plus GST was the grant. 146 00:09:24,360 --> 00:09:26,640 But there are a lot of these companies nowadays... 147 00:09:26,720 --> 00:09:29,600 Even the government has streamlined things. 148 00:09:29,960 --> 00:09:33,240 A lot of companies have entered scrap trading. What do they do? 149 00:09:34,360 --> 00:09:36,600 The focus of the government and these companies 150 00:09:36,600 --> 00:09:38,480 is entirely on plastics. 151 00:09:38,600 --> 00:09:40,320 But the customer wants a one-stop solution. 152 00:09:40,360 --> 00:09:43,080 He won't call one dealer to collect just plastic items 153 00:09:43,080 --> 00:09:44,760 and a separate one for e-waste. 154 00:09:45,440 --> 00:09:46,720 He wants a single person. 155 00:09:46,760 --> 00:09:49,280 And this is how the supply chain works. 156 00:09:49,320 --> 00:09:51,080 The scrap dealer takes all the scrap. 157 00:09:51,240 --> 00:09:54,040 At 25, your clarity of thought 158 00:09:54,080 --> 00:09:57,080 and your thought process 159 00:09:57,080 --> 00:09:58,280 - are amazing. - Thank you. 160 00:09:58,360 --> 00:10:00,120 - You possess humility, you know? - [chuckles] 161 00:10:00,160 --> 00:10:02,040 You have the desire to learn from them. 162 00:10:02,760 --> 00:10:04,040 You don't act like you know everything. 163 00:10:04,040 --> 00:10:06,920 The best part is that you've brought dignity 164 00:10:07,080 --> 00:10:09,520 - to the job of a scrap dealer. - Hmm. 165 00:10:09,600 --> 00:10:12,280 Why don't people know about ScrapUncle? 166 00:10:12,360 --> 00:10:14,720 I'm from Delhi. I have absolutely no idea about it. 167 00:10:16,440 --> 00:10:19,840 We started this full-time in August 2020. 168 00:10:26,200 --> 00:10:28,280 [tense music playing] 169 00:10:28,560 --> 00:10:31,680 Tell me quickly if you've made any sales. 170 00:10:31,840 --> 00:10:33,120 - Yes... - Do you make profits? 171 00:10:33,200 --> 00:10:36,480 Yes. Our current monthly sales are Rs. 27.5 lakhs. 172 00:11:04,440 --> 00:11:07,560 - Like... - What is the customer acquisition cost per customer? 173 00:12:01,120 --> 00:12:04,120 No, I said our gross margin was 25%. 174 00:12:08,560 --> 00:12:12,720 But when we do sales of Rs. 1 crore, our expenses won't seem big. 175 00:12:12,720 --> 00:12:14,840 Fine, I've made my decision. Let me tell you. 176 00:12:16,680 --> 00:12:18,320 I had never imagined 177 00:12:18,320 --> 00:12:20,680 that scrap could be such a great business option. 178 00:12:21,120 --> 00:12:23,080 When you walked in, I couldn't figure out your business. 179 00:12:23,080 --> 00:12:25,360 - I didn't understand what was happening. - Hmm. 180 00:12:25,600 --> 00:12:27,720 Now, I have understood that this can be a business too. 181 00:12:27,800 --> 00:12:29,160 - Hmm. - You're an honest man. 182 00:12:29,240 --> 00:12:31,640 You said everything so earnestly. 183 00:12:31,720 --> 00:12:34,000 You weren't afraid of what people would think. It was good. 184 00:12:34,080 --> 00:12:37,080 But my opinion is that there's still a lot of work to do. 185 00:12:37,080 --> 00:12:40,520 - Operational challenges await you. - True. 186 00:12:40,640 --> 00:12:45,240 I wish to be out for now, but hats off to your determination. 187 00:12:45,320 --> 00:12:46,200 Thank you. 188 00:12:46,200 --> 00:12:49,120 Let me tell you. Currently, sales are Rs. 27.5 lakhs. 189 00:12:49,960 --> 00:12:53,160 - No, just... - I must admit you're unbelievable! 190 00:12:53,240 --> 00:12:55,600 Current sales are Rs. 27.5 lakhs. Okay? 191 00:12:55,720 --> 00:12:57,000 Rs. 7 lakhs are remaining. 192 00:12:57,120 --> 00:12:58,520 But when sales are Rs. 1 crore, 193 00:12:58,520 --> 00:13:00,600 I will still have that 25% left, right? 194 00:13:01,720 --> 00:13:04,720 We're not far from hitting 1 crore. It isn't a big number. 195 00:13:04,800 --> 00:13:06,840 - Yes, I believe you. - So... 196 00:13:07,080 --> 00:13:08,320 When we'll be left with Rs. 25 lakhs, 197 00:13:08,320 --> 00:13:11,120 this fixed cost of ours, which is now Rs. 3 lakhs, 198 00:13:11,200 --> 00:13:14,160 - will have become 5 or 6 lakhs. - Absolutely right. 199 00:13:14,360 --> 00:13:16,720 We will have the remaining margin. 200 00:13:16,920 --> 00:13:17,840 Forget Rs. 1 crore. 201 00:13:17,840 --> 00:13:20,840 - Suppose you start doing sales of Rs. 10 crores a month. - Okay. 202 00:13:29,800 --> 00:13:31,880 Secondly, the competition will grow. 203 00:13:33,320 --> 00:13:35,760 - That, in turn, will increase your customer acquisition cost. - Hmm. 204 00:13:35,840 --> 00:13:40,000 You have repeat orders today due to a lack of competition. Okay? 205 00:13:40,000 --> 00:13:42,080 How do you intend to solve these two problems? 206 00:13:42,440 --> 00:13:44,200 One player is just not enough. 207 00:13:44,280 --> 00:13:46,000 A few more players are bound to join in. 208 00:13:46,080 --> 00:13:48,000 And then all these players will become big. 209 00:13:49,480 --> 00:13:52,240 There are so many metro cities and the scrap is a lot. 210 00:13:52,240 --> 00:13:53,440 It will just increase. 211 00:13:53,520 --> 00:13:56,680 I don't know whether every city will have a king 212 00:13:57,520 --> 00:13:59,320 like ScrapUncle for instance, 213 00:13:59,320 --> 00:14:00,520 or you single-handedly 214 00:14:00,640 --> 00:14:03,920 - will be able to make a business pan-India. - Hmm. 215 00:14:04,000 --> 00:14:08,480 But I feel you're passionate and possess clarity. 216 00:14:08,600 --> 00:14:10,320 I want to bet on that. 217 00:14:10,560 --> 00:14:14,280 So, I'll offer you Rs. 30 lakhs equity 218 00:14:14,360 --> 00:14:16,440 for 5% of the business. 219 00:14:17,840 --> 00:14:19,600 Which is a valuation of Rs. 6 crores. 220 00:14:19,720 --> 00:14:22,880 And for your working capital needs, 221 00:14:23,040 --> 00:14:27,080 I'll give you Rs. 30 lakhs debt at 12% interest. 222 00:14:35,560 --> 00:14:37,760 But let me tell you something honestly. 223 00:14:38,040 --> 00:14:41,360 I don't see where I can add value. 224 00:14:42,600 --> 00:14:44,400 And for that reason, I am out. 225 00:14:44,600 --> 00:14:45,520 Okay. 226 00:14:45,800 --> 00:14:49,160 Car scrapping as a business is gaining momentum. 227 00:14:49,280 --> 00:14:51,080 It could be a new line for your business. 228 00:14:51,160 --> 00:14:52,640 We have options for cars too, sir. 229 00:14:52,640 --> 00:14:57,080 - We recently did a tie-up with a big vehicle scrapper. - Wow! 230 00:14:57,160 --> 00:14:59,800 This is an important moment for our industry 231 00:14:59,880 --> 00:15:02,920 - where cars that are 10 to 15 years old will be scrapped. - Right. 232 00:15:03,080 --> 00:15:04,600 The volumes will be so high. 233 00:15:04,600 --> 00:15:05,960 Billions of dollars will be generated 234 00:15:06,040 --> 00:15:07,760 from cars that must be mandatorily scrapped by law. 235 00:15:07,840 --> 00:15:09,240 Are you making an offer or not? 236 00:15:10,400 --> 00:15:12,720 I will make an offer, Vineeta. It will be better than yours. 237 00:15:12,720 --> 00:15:14,840 - That's why he's listening. - [laughs] 238 00:15:14,960 --> 00:15:16,440 I don't believe in debt. 239 00:15:16,440 --> 00:15:18,880 I feel you have a requirement for working capital. 240 00:15:19,640 --> 00:15:22,120 I want to give you Rs. 60 lakhs equity upfront. 241 00:15:22,280 --> 00:15:24,160 - At what percent? - I am not done. 242 00:15:24,320 --> 00:15:26,560 - I am telling you. - I like this guy. 243 00:15:26,680 --> 00:15:29,560 - I like this guy. - You don't waste a minute to celebrate your wins! 244 00:15:29,560 --> 00:15:30,640 You straightaway... 245 00:15:30,880 --> 00:15:34,880 I will give you Rs. 60 lakhs now matching Vineeta's offer 246 00:15:34,880 --> 00:15:36,720 of Rs. 6 crores. 247 00:15:36,800 --> 00:15:38,040 I want 10% equity. 248 00:15:49,520 --> 00:15:50,600 - [hysterical laughter] - 60... 249 00:15:50,600 --> 00:15:52,760 - Rs. 60 lakhs for 8%. - A bidding war. 250 00:15:52,760 --> 00:15:54,240 Hang on a minute. 251 00:15:54,480 --> 00:15:56,320 Wait, I'm revising my offer. 252 00:15:58,480 --> 00:16:01,520 I'll take 7%. Rs. 60 lakhs for 7% equity. 253 00:16:10,880 --> 00:16:12,240 Let me summarise it for you. 254 00:16:12,240 --> 00:16:14,400 The offers will be revised by the time I'm done. 255 00:16:15,680 --> 00:16:18,120 One offer is Rs. 60 lakhs for 7% equity. 256 00:16:18,440 --> 00:16:20,200 Anupam's offer is Rs. 60 lakhs for 6% equity. 257 00:16:20,200 --> 00:16:21,880 Vineeta is just breathing calmly. 258 00:16:21,960 --> 00:16:24,360 [hysterical laughter] 259 00:16:25,080 --> 00:16:26,920 Look, here's my last and final offer. 260 00:16:28,760 --> 00:16:30,760 Rs. 60 lakhs for 5% equity. 261 00:16:34,840 --> 00:16:38,600 You took too long. I am out. 262 00:16:40,040 --> 00:16:41,400 I don't want to do any deal. 263 00:16:41,880 --> 00:16:45,400 Look, this business is operationally very heavy. 264 00:16:45,520 --> 00:16:48,640 Second, your frequency of purchase is very low. 265 00:16:48,760 --> 00:16:50,600 Once a month or two months. 266 00:16:50,840 --> 00:16:54,240 When that happens, brand loyalty weakens. 267 00:16:54,320 --> 00:16:56,640 - You said you won't give sermons! - So... 268 00:16:56,760 --> 00:16:58,320 - I was just going to say that! - I... 269 00:16:58,640 --> 00:17:01,240 I don't give sermons if I make an offer. 270 00:17:01,320 --> 00:17:04,120 But I will if I withdraw my offer. 271 00:17:04,240 --> 00:17:05,720 You're a wonderful person 272 00:17:05,720 --> 00:17:08,320 - and I salute you for the work you're doing. - Hmm. 273 00:17:08,480 --> 00:17:09,360 I'm out. 274 00:17:09,360 --> 00:17:10,400 Fantastic! 275 00:17:11,280 --> 00:17:12,320 We have a deal, sir. 276 00:17:19,800 --> 00:17:21,120 Keep rocking. You did amazing. 277 00:17:21,200 --> 00:17:23,160 - Mukul, you're awesome. - Thank you, Mukul. 278 00:17:23,280 --> 00:17:25,000 - Thank you. - You're a really cool dude. 279 00:17:25,000 --> 00:17:26,120 Thank you so much. 280 00:18:47,840 --> 00:18:50,840 [theme music playing] 281 00:19:10,800 --> 00:19:13,000 [theme music fading] 282 00:19:13,080 --> 00:19:15,400 Sharks, we've been listening to comparisons since childhood. 283 00:19:15,480 --> 00:19:17,680 "Sharma ji's son is good at studies." 284 00:19:18,800 --> 00:19:21,440 "Sharma ji's son is good at sport." 285 00:19:21,520 --> 00:19:22,600 [Sharks laugh] 286 00:19:22,720 --> 00:19:26,160 But we've forgotten to appreciate one Sharma ji and that is my mom. 287 00:19:27,320 --> 00:19:28,680 Oh! Amazing. 288 00:19:29,880 --> 00:19:31,000 Aw. 289 00:19:31,160 --> 00:19:32,400 Greetings, Sharks. 290 00:19:39,440 --> 00:19:40,440 Just like all mothers, 291 00:19:40,440 --> 00:19:44,360 I, too, want my family to stay healthy 292 00:19:45,280 --> 00:19:47,080 and my kids to eat healthy food. 293 00:19:47,160 --> 00:19:51,040 That's why we've always sourced our flour from the mill. 294 00:19:51,400 --> 00:19:55,480 But one day I was busy on account of my job. 295 00:19:55,560 --> 00:19:58,840 We couldn't get the grain milled and also, it started raining. 296 00:19:59,160 --> 00:20:02,800 So, we had no choice but to buy a packet of flour 297 00:20:02,920 --> 00:20:04,200 and make rotis with it. 298 00:20:04,200 --> 00:20:05,320 We did eat the rotis, 299 00:20:05,320 --> 00:20:08,960 but neither were they tasty nor was the quality good. 300 00:20:10,080 --> 00:20:14,000 At that time, it occurred to me that there must be many women out there 301 00:20:14,000 --> 00:20:15,440 who must be facing the same problem. 302 00:20:15,520 --> 00:20:18,960 - So I decided to set up my own flour mill. - Wow! 303 00:20:19,040 --> 00:20:22,640 And I set up a flour mill in my town. 304 00:20:24,520 --> 00:20:27,560 Sharks, we asked our customers what their demands were. 305 00:20:27,720 --> 00:20:32,080 What consistency of flour did they prefer and of what grain. 306 00:20:33,880 --> 00:20:36,520 We gave them flour that met their needs. 307 00:20:36,600 --> 00:20:37,960 Sharks, we didn't stop at that. 308 00:20:38,040 --> 00:20:40,080 We took a nutritionist on board 309 00:20:40,160 --> 00:20:42,960 who understood the health problems of our customers, 310 00:20:43,120 --> 00:20:46,640 and we'd recommend our flour to them based on that analysis. 311 00:21:10,960 --> 00:21:12,960 So, Sharks, our ask is 312 00:21:21,960 --> 00:21:24,960 When someone asks you which brand of flour you buy, 313 00:21:24,960 --> 00:21:27,320 your answer should be, "Sharma Ji Ka Aata." 314 00:21:27,400 --> 00:21:28,760 - [laughs] - "Sharma Ji Ka Aata"! 315 00:21:28,840 --> 00:21:30,800 [laughs] 316 00:21:44,160 --> 00:21:46,000 - [unanimous laughter] - [mumbling] 317 00:21:47,840 --> 00:21:50,320 Is your brother involved in the business or not? 318 00:21:50,400 --> 00:21:54,000 Unfortunately, ma'am, he passed away in December. 319 00:21:54,080 --> 00:21:56,320 - Oh! So sorry to hear that. - Sorry to hear that. 320 00:21:56,800 --> 00:21:59,880 But he has always been a source of inspiration to me. 321 00:21:59,960 --> 00:22:02,880 He told me something I remember when we saw that one episode 322 00:22:02,960 --> 00:22:05,280 - of sisters-in-law who owned a pickle business. - Yes? 323 00:22:05,360 --> 00:22:06,840 He used to motivate me by saying, 324 00:22:06,920 --> 00:22:09,760 "The sisters-in-law will take their flour to Shark Tank one day!" 325 00:22:09,840 --> 00:22:11,880 Wow! How sweet! 326 00:22:11,960 --> 00:22:13,800 [sentimental music playing] 327 00:22:14,160 --> 00:22:16,880 You wish to make this a national brand 328 00:22:16,880 --> 00:22:18,440 to dedicate to your brother. 329 00:22:18,520 --> 00:22:20,640 - Yes... - In heaven. 330 00:22:21,560 --> 00:22:22,880 What do you do, sir? 331 00:22:23,000 --> 00:22:25,520 I was inspired by her. 332 00:22:25,760 --> 00:22:29,320 Due to personal reasons, I was compelled to take up a job 333 00:22:29,400 --> 00:22:31,000 and support the family. 334 00:22:31,120 --> 00:22:34,280 But my mom was so passionate about this product 335 00:22:34,560 --> 00:22:36,600 that I didn't want there to be any roadblocks. 336 00:22:37,200 --> 00:22:39,280 So, I took the responsibility of... 337 00:22:39,280 --> 00:22:42,040 - I began helping her with operations. - Understood. 338 00:22:42,120 --> 00:22:43,120 When did you join? 339 00:22:43,240 --> 00:22:45,920 - I'm doing a job since 2017. - Okay. 340 00:22:45,920 --> 00:22:48,240 I help her with operations part-time. 341 00:22:48,320 --> 00:22:50,640 - Do you also do a job alongside this? - Yes. 342 00:22:50,760 --> 00:22:54,200 - You began milling the grain... - Hmm... 343 00:22:54,280 --> 00:22:57,400 Because it was an indulgence and not a necessity. 344 00:22:57,480 --> 00:23:00,040 No, it was both. 345 00:23:00,160 --> 00:23:02,720 - Did you need it for your family? - Yes. 346 00:23:02,880 --> 00:23:04,920 You could have brought the grinder home. 347 00:23:04,920 --> 00:23:07,760 No, small machines won't guarantee efficiency 348 00:23:07,880 --> 00:23:09,640 - if I wish to do this commercially. - Yes. 349 00:23:09,760 --> 00:23:12,400 With bigger machines, there is greater efficiency 350 00:23:12,400 --> 00:23:13,320 and grains are stone-crushed. 351 00:23:13,440 --> 00:23:16,120 The quality, taste and texture of the flour 352 00:23:16,200 --> 00:23:19,120 that stone-crushing renders is not something the machines can do. 353 00:23:19,560 --> 00:23:22,520 You mentioned two things. First, that there was a need. 354 00:23:22,640 --> 00:23:27,520 - And the second was if you had to go commercial. - Yes. 355 00:23:27,520 --> 00:23:29,240 So, I have a feeling 356 00:23:29,320 --> 00:23:32,520 that you were compelled to get into this business. 357 00:23:32,520 --> 00:23:33,720 Or was it something else? 358 00:23:33,840 --> 00:23:35,640 In 2016, 359 00:23:35,640 --> 00:23:38,800 my younger son underwent major intestinal surgery. 360 00:23:39,680 --> 00:23:43,120 Within a week of that, my husband suffered a massive cardiac arrest, 361 00:23:43,120 --> 00:23:44,600 and both were fatal conditions. 362 00:23:44,720 --> 00:23:46,200 - Oh my God! - Oh! 363 00:23:46,720 --> 00:23:48,360 My entire savings 364 00:23:48,360 --> 00:23:51,840 and the income from the business went into paying hospital bills. 365 00:23:51,840 --> 00:23:54,400 I spent over Rs. 40 lakhs in two years 366 00:23:54,520 --> 00:23:56,880 only on medical bills. 367 00:23:58,800 --> 00:24:01,680 - In due course, we all recovered. - Nice. 368 00:24:02,080 --> 00:24:03,720 - Very good. - But my husband's heart 369 00:24:03,720 --> 00:24:06,000 pumps only at 25% capacity. 370 00:24:07,160 --> 00:24:11,760 I asked him to quit his job before the covid hit. 371 00:24:11,920 --> 00:24:14,120 I told him it was our business and we'd expand it. 372 00:24:14,320 --> 00:24:17,400 I told him he could oversee the deliveries 373 00:24:17,400 --> 00:24:18,720 and I'd handle marketing. 374 00:24:19,200 --> 00:24:21,320 What you have done takes a lot of courage, Sangeeta. 375 00:24:21,320 --> 00:24:22,920 You've done a commendable job. 376 00:24:23,200 --> 00:24:25,440 What a heart-touching story! 377 00:24:25,600 --> 00:24:28,640 You helped your family come out of a financial crisis. 378 00:24:28,640 --> 00:24:29,520 Hats off! 379 00:24:29,640 --> 00:24:30,760 - Thank you. - Thank you so much. 380 00:24:30,840 --> 00:24:33,320 - I'd like to say one more thing, sir. - Yes. 381 00:24:33,520 --> 00:24:35,680 I didn't spend a rupee on marketing. 382 00:24:35,880 --> 00:24:40,080 I wanted to try and save money in every way possible. 383 00:24:40,080 --> 00:24:42,120 I market my brand on free groups on Facebook. 384 00:24:42,120 --> 00:24:43,920 - There must be at least 1000. - Wonderful! 385 00:24:44,000 --> 00:24:47,000 My routine from 4 to 6 am is 386 00:24:47,280 --> 00:24:51,840 that I drop a message on all the free groups on Facebook. 387 00:24:51,920 --> 00:24:54,480 When people wake up at 6 am and check their notifications, 388 00:24:54,480 --> 00:24:55,800 it'll strike them to replenish flour at home. 389 00:24:55,880 --> 00:24:57,400 Lovely! 390 00:24:57,560 --> 00:24:59,320 - [sentimental music playing] - [applauds] 391 00:24:59,400 --> 00:25:01,720 It will surely strike them and this does happen. 392 00:25:02,040 --> 00:25:05,400 We harp on about marketing, but this is true marketing! 393 00:25:05,400 --> 00:25:06,760 Understanding the customer! 394 00:25:06,880 --> 00:25:07,840 Yes. 395 00:25:08,600 --> 00:25:10,240 You put yourself up to the job. 396 00:25:10,240 --> 00:25:11,960 That's marketing fundamentally put, right? 397 00:25:12,040 --> 00:25:14,240 - Yes. - People get into the technicals 398 00:25:14,320 --> 00:25:16,720 like retention, replenishment reminders and others. 399 00:25:16,800 --> 00:25:20,920 But you went by the first principle and did this yourself. 400 00:25:21,000 --> 00:25:23,440 Let me get to the delivery of our products. 401 00:25:23,680 --> 00:25:25,800 I didn't have money to hire delivery boys. 402 00:25:25,880 --> 00:25:27,480 I later realised that 403 00:25:27,600 --> 00:25:30,520 if I hired someone for this job, people would not know me. 404 00:25:30,720 --> 00:25:33,200 I used to take my son, who underwent surgery, 405 00:25:33,200 --> 00:25:34,960 along in the car with me. 406 00:25:35,120 --> 00:25:38,760 I used to give him a soft drink or munchies. 407 00:25:38,960 --> 00:25:41,400 And I used to keep the bags of flour in the boot of my car. 408 00:25:41,480 --> 00:25:43,040 People were extremely cooperative. 409 00:25:43,040 --> 00:25:45,720 "Ma'am, don't come upstairs. We will come to you." 410 00:25:45,840 --> 00:25:47,000 They'd come downstairs 411 00:25:47,000 --> 00:25:49,480 and collect their bags of flour from the boot of my car. 412 00:25:49,600 --> 00:25:50,560 Nice. 413 00:25:50,920 --> 00:25:53,000 [uplifting music playing] 414 00:25:53,240 --> 00:25:54,920 You have proved one thing. 415 00:25:54,920 --> 00:25:57,200 People believe, especially in our country, 416 00:25:57,320 --> 00:26:00,760 that generally men are better at business and women are not. 417 00:26:00,920 --> 00:26:04,240 - Yes. - I believe that's the perception about women 418 00:26:04,240 --> 00:26:05,640 because either they don't wish to do it 419 00:26:05,640 --> 00:26:07,200 or they never had the opportunity. 420 00:26:07,400 --> 00:26:10,000 You had to go through it and you did an amazing job. 421 00:26:10,000 --> 00:26:13,200 You have set a good example. So... 422 00:26:13,400 --> 00:26:16,880 [sentimental music playing] 423 00:26:17,160 --> 00:26:20,920 - And there's always a breadwinner in a family. - Yes. 424 00:26:21,000 --> 00:26:24,360 Here, you are literally the breadwinner in the family. 425 00:26:24,480 --> 00:26:25,640 Yes, I am. 426 00:26:25,640 --> 00:26:28,920 Here, behind every successful woman, there's a man. 427 00:26:29,240 --> 00:26:30,400 A progressive man. 428 00:26:31,680 --> 00:26:33,200 Why 40 SKUs? 429 00:26:33,280 --> 00:26:35,680 We do have 40 SKUs which is a bit too much. 430 00:26:35,760 --> 00:26:38,000 But going forward, the SKUs will decrease 431 00:26:38,000 --> 00:26:41,920 as we know the generic taste and which ones sell more. 432 00:26:41,960 --> 00:26:42,880 What sells the most? 433 00:26:42,960 --> 00:26:46,440 Sharbati wheat flour contributes to 70% of the revenue. 434 00:26:46,480 --> 00:26:47,440 Sharbati wheat! 435 00:26:47,520 --> 00:26:49,000 Sharbati. Yes, it's wheat. 436 00:26:49,120 --> 00:26:50,400 What comes after that? 437 00:26:50,480 --> 00:26:53,120 Then comes multigrain, jowar and bajra. 438 00:26:53,760 --> 00:26:55,400 Could you show us your products 439 00:26:55,440 --> 00:26:58,200 - so that we know what it is that you exactly sell? - Yes. 440 00:26:58,280 --> 00:27:00,600 [euphoric music playing] 441 00:27:03,760 --> 00:27:04,840 What are you offering us? 442 00:27:04,960 --> 00:27:06,120 - What's this? - Roti. 443 00:27:06,200 --> 00:27:08,720 - There's missi roti and multigrain roti. - Wow! 444 00:27:08,960 --> 00:27:11,440 [uplifting music playing] 445 00:27:22,480 --> 00:27:25,360 Do your customers buy from you because this is better in taste? 446 00:27:25,440 --> 00:27:27,360 Or because you don't add a particular ingredient 447 00:27:27,360 --> 00:27:28,800 or preservative? 448 00:27:28,920 --> 00:27:30,800 We do not add preservatives at all. 449 00:27:32,040 --> 00:27:33,000 It's delectable! 450 00:27:33,280 --> 00:27:35,600 [euphoric music playing] 451 00:27:35,880 --> 00:27:37,800 Tell us about your sales. 452 00:27:57,880 --> 00:27:58,760 What will be your profit? 453 00:28:07,600 --> 00:28:08,520 Yes. 454 00:28:09,320 --> 00:28:11,480 Talking about our local grinding. 455 00:28:11,600 --> 00:28:13,920 This is possible as we have two machines. 456 00:28:14,120 --> 00:28:16,880 People bring their grains to us to mill them. 457 00:28:17,080 --> 00:28:18,880 That contributes to another 458 00:28:18,920 --> 00:28:21,680 Rs. 80,000 to 90,000 revenue per month. 459 00:28:21,760 --> 00:28:23,160 That's entirely profit. 460 00:28:23,240 --> 00:28:24,360 - Yes. - Right. 461 00:28:25,480 --> 00:28:26,960 What's the price difference 462 00:28:27,000 --> 00:28:29,440 between your per kg rate and that of normal flour? 463 00:28:37,040 --> 00:28:40,560 How much business do you get through the community? 464 00:28:40,560 --> 00:28:42,760 And how much is through online and D2C channels? 465 00:29:14,760 --> 00:29:18,680 I need you to teach me modern-day trade. 466 00:29:20,080 --> 00:29:24,440 Look. I don't think a revenue of Rs. 10 to 15 lakhs a month 467 00:29:24,640 --> 00:29:26,440 is a big deal. 468 00:29:27,600 --> 00:29:29,360 You need more capital as well. 469 00:29:29,480 --> 00:29:33,440 I believe you shouldn't take investment for the business. 470 00:29:34,080 --> 00:29:35,720 That investment will be 471 00:29:36,040 --> 00:29:39,000 accompanied by a lot of problems. 472 00:29:39,080 --> 00:29:43,520 You see, you'll have to give 10 to 30% returns to your investor. 473 00:29:44,800 --> 00:29:48,360 And the investor will expect you to work in a certain fashion. 474 00:29:48,480 --> 00:29:51,600 I am convinced that you've understood this business 475 00:29:51,760 --> 00:29:53,600 and you wish to run it in a particular way. 476 00:29:53,720 --> 00:29:57,040 You won't tolerate much interference and you shouldn't even. 477 00:29:57,160 --> 00:29:58,840 For this reason, I am out. 478 00:29:59,920 --> 00:30:01,920 Heed my advice. 479 00:30:01,960 --> 00:30:03,840 Many accelerators out there 480 00:30:03,880 --> 00:30:07,120 can teach you modern marketing 481 00:30:07,280 --> 00:30:09,560 by taking only a percentage of your revenue. 482 00:30:09,600 --> 00:30:12,360 And I am happy to introduce you to them 483 00:30:12,360 --> 00:30:13,880 and support you in any way. 484 00:30:14,000 --> 00:30:16,240 But I don't think you should take any investment. 485 00:30:16,280 --> 00:30:17,720 Not just from me, from anybody. 486 00:30:17,960 --> 00:30:20,160 The rest is up to you. All the best. 487 00:30:21,840 --> 00:30:23,360 I agree with Anupam. 488 00:30:23,760 --> 00:30:27,760 At this point, you should not accept investment. 489 00:30:28,840 --> 00:30:29,960 Go solo. 490 00:30:30,160 --> 00:30:32,280 Build your business to a certain extent. 491 00:30:32,320 --> 00:30:34,160 You're profitable, right? 492 00:30:34,280 --> 00:30:37,200 Anupam can introduce you to accelerators. 493 00:30:37,280 --> 00:30:39,920 Similarly, I, too, have many connections in modern retail. 494 00:30:40,120 --> 00:30:41,920 - I am from Pune. - Yes. 495 00:30:42,000 --> 00:30:45,000 I am happy to meet you and share my network with you. 496 00:30:45,080 --> 00:30:48,640 But I don't find it investible at this point. 497 00:30:50,000 --> 00:30:51,120 And so I am out. 498 00:30:52,320 --> 00:30:54,560 You'll inspire a lot of people in India. 499 00:30:54,640 --> 00:30:58,400 I am interested in such causes and wish to support them too. 500 00:30:58,560 --> 00:31:01,440 I'm not sure whether the business will become big, I'll be very frank. 501 00:31:02,520 --> 00:31:05,080 We'll need to work together to find a strategic pivot 502 00:31:05,160 --> 00:31:08,320 with respect to finding high-margin categories. 503 00:31:08,360 --> 00:31:09,240 And we'll do it. 504 00:31:09,680 --> 00:31:13,920 My offer is Rs. 40 lakhs since that's what you asked for. 505 00:31:15,320 --> 00:31:17,360 Rs. 20 lakh equity and Rs. 20 lakh debt 506 00:31:17,400 --> 00:31:18,560 at a 12% normal interest rate. 507 00:31:27,960 --> 00:31:28,960 We'll grow it together. 508 00:31:29,120 --> 00:31:30,000 Ouch! 509 00:31:31,360 --> 00:31:33,000 The one saying "ouch" didn't even make you an offer. 510 00:31:33,080 --> 00:31:34,600 This is why. It hurts. 511 00:31:34,800 --> 00:31:36,000 Then keep the pain. 512 00:31:36,280 --> 00:31:37,880 [intense music playing] 513 00:31:38,440 --> 00:31:41,040 It's a very sarcastic deal. We call it a sarcastic deal. 514 00:31:41,160 --> 00:31:42,920 [tense music playing] 515 00:31:44,120 --> 00:31:45,800 I'll make you an offer too. 516 00:31:46,560 --> 00:31:50,920 I can help you tie up with Amazon Fresh and Instamart. 517 00:31:50,960 --> 00:31:54,760 Avenues that could make your delivery cost reasonable. 518 00:31:56,120 --> 00:31:58,600 This... And of course, we'll improve the packaging. 519 00:31:58,720 --> 00:32:01,600 We'll make it a brand with a story. 520 00:32:01,680 --> 00:32:03,040 And your story is solid. 521 00:32:03,080 --> 00:32:08,040 Your story, the one dedicated to your brother, is very solid! 522 00:32:09,480 --> 00:32:11,920 But what Amit said is right. 523 00:32:11,960 --> 00:32:14,600 Valuation is decided based on your current scale. 524 00:32:14,800 --> 00:32:18,280 It's really difficult to give this business a higher valuation 525 00:32:18,320 --> 00:32:19,960 than Rs. 1 crore. 526 00:32:20,880 --> 00:32:24,120 My offer is Rs. 20 lakhs for 20% equity. 527 00:32:24,560 --> 00:32:27,080 And Rs. 20 lakhs debt over and above that 528 00:32:27,200 --> 00:32:29,400 at a 12% interest rate. 529 00:32:35,720 --> 00:32:39,160 I believe Vineeta would be a good partner for you. 530 00:32:41,040 --> 00:32:42,600 [laughs] 531 00:32:43,200 --> 00:32:44,960 [intense music playing] 532 00:32:45,160 --> 00:32:47,920 If that's what you think, Vineeta and I can give a consolidated offer. 533 00:32:48,080 --> 00:32:50,560 You have good offers. So I am out. 534 00:32:51,920 --> 00:32:53,280 And best of luck. 535 00:32:55,280 --> 00:32:57,000 Vineeta and I will come on board together. 536 00:32:57,080 --> 00:32:59,160 Vineeta's offer is better than mine. 537 00:33:00,160 --> 00:33:02,320 I'd like to join Vineeta in her offer. 538 00:33:02,360 --> 00:33:03,480 So, you'll have both Sharks. 539 00:33:04,800 --> 00:33:05,720 I'll repeat the offer. 540 00:33:05,760 --> 00:33:07,320 We will give you Rs. 40 lakhs. 541 00:33:15,240 --> 00:33:16,840 Hey! Stop whistling like a pressure cooker! 542 00:33:16,880 --> 00:33:18,120 No, I was just... 543 00:33:19,640 --> 00:33:22,840 Just remember that this guy didn't offer you a deal. 544 00:33:24,840 --> 00:33:26,640 Sharks, we have a counteroffer. 545 00:33:26,720 --> 00:33:28,640 Don't do it. Don't take debt. 546 00:33:28,640 --> 00:33:29,600 What's your counteroffer? 547 00:33:30,600 --> 00:33:32,600 I offer you Rs. 40 lakhs for 20%. 548 00:33:32,720 --> 00:33:35,240 You were out, Anupam! Where did you come from? 549 00:33:36,400 --> 00:33:37,440 Is he allowed to do this? 550 00:33:37,520 --> 00:33:38,920 No, he is out. 551 00:33:39,040 --> 00:33:40,560 I don't want them to take a loan. 552 00:33:41,520 --> 00:33:44,960 - We're hesitant to take a loan. - Hmm. 553 00:33:45,080 --> 00:33:48,440 Is there a way by which we can eliminate the loan? 554 00:33:48,520 --> 00:33:49,960 Give us a counteroffer. 555 00:33:59,760 --> 00:34:02,720 My offer is Rs. 40 lakhs for 20% equity. 556 00:34:12,320 --> 00:34:14,400 If they rule out the debt component, 557 00:34:14,440 --> 00:34:15,960 I'm out of the deal. I don't have a problem. 558 00:34:16,200 --> 00:34:18,640 [intense music playing] 559 00:34:18,920 --> 00:34:21,080 But if they don't, my offer stands. 560 00:34:21,120 --> 00:34:22,400 - You can take my investment. - [mumbling] 561 00:34:22,440 --> 00:34:23,480 Do not take a loan! 562 00:34:24,800 --> 00:34:26,880 Fine. You two decide. 563 00:34:26,960 --> 00:34:27,840 - Look. - End of topic. 564 00:34:27,920 --> 00:34:28,960 I'm trying to explain to you. 565 00:34:29,080 --> 00:34:31,280 Let me calculate the equity of the investment. 566 00:34:31,320 --> 00:34:34,480 And we'll give you Rs. 10 lakhs debt interest-free. 567 00:34:44,000 --> 00:34:46,040 He was out of the deal. He didn't believe in you. 568 00:34:47,800 --> 00:34:51,040 I was very clear that you shouldn't take an investment. 569 00:34:51,160 --> 00:34:53,720 I also told you why. 570 00:34:53,800 --> 00:34:56,560 But you've made up your mind to take the investment. 571 00:34:56,880 --> 00:34:59,480 I am against you taking debt. 572 00:35:00,080 --> 00:35:02,720 Look, this is a better valuation for you. 573 00:35:02,800 --> 00:35:04,920 So, it's a better deal. Now, you need to decide. 574 00:35:05,120 --> 00:35:07,480 [intense music playing] 575 00:35:08,400 --> 00:35:09,440 Anupam, we... 576 00:35:09,520 --> 00:35:11,080 - You accept! - We accept. 577 00:35:19,120 --> 00:35:21,440 Go on, Anupam. You took my deal. 578 00:35:22,160 --> 00:35:24,240 You may hand over the cheque. No problem. 579 00:35:24,520 --> 00:35:26,920 You had no faith in their business. Now, you're handing them a cheque! 580 00:35:27,120 --> 00:35:29,560 [uplifting music playing] 581 00:35:31,080 --> 00:35:32,800 - Thank you so much. - Thank you. 582 00:35:32,880 --> 00:35:35,040 [uplifting music playing] 583 00:35:36,280 --> 00:35:37,720 - Thank you. - Sangeeta. 584 00:35:37,720 --> 00:35:39,320 - Sangeeta. - All the best. 585 00:35:39,440 --> 00:35:40,600 - All the best. - Thank you. 586 00:35:40,760 --> 00:35:42,040 - It was nice to meet you. - You're amazing. 587 00:35:42,160 --> 00:35:44,240 - Absolutely. She's incredible. - Thank you. 588 00:35:44,240 --> 00:35:45,280 It was nice to meet you. 589 00:35:45,440 --> 00:35:47,920 [euphoric music playing] 590 00:35:49,280 --> 00:35:51,880 - Breaking rules is not allowed! I'll do it too. - Yay! 591 00:35:51,960 --> 00:35:54,160 Everything is fair in love and war. 592 00:35:54,240 --> 00:35:55,800 If you're out, how can you come back? 593 00:35:55,960 --> 00:35:58,480 It was a very sweet gesture and good for her. 594 00:35:58,600 --> 00:36:00,520 - It was great for her. - There was an emotional angle. 595 00:36:00,880 --> 00:36:02,720 Come on, it's good for... 596 00:36:02,800 --> 00:36:04,840 - Emotional... - Anupam's emotional deal. 597 00:36:22,080 --> 00:36:23,880 [sweeping music] 598 00:36:26,880 --> 00:36:29,600 [musical instrument playing] 599 00:36:30,120 --> 00:36:31,680 'A lot is happening here.' 600 00:36:31,760 --> 00:36:34,640 We are launching two new flavours 601 00:36:34,720 --> 00:36:36,800 and we are preparing for the same. 602 00:36:38,280 --> 00:36:40,400 Aman will be here any moment 603 00:36:42,960 --> 00:36:44,880 - Are you excited? - Yes, we are excited. 604 00:36:45,000 --> 00:36:46,560 [musical instrument playing] 605 00:36:47,040 --> 00:36:48,040 Manas! 606 00:36:49,720 --> 00:36:51,480 - Good to see you. Awesome! - Thanks for coming. 607 00:36:54,240 --> 00:36:57,440 I remember the way he started his pitch. 608 00:37:01,640 --> 00:37:04,400 "Until now, you bought chips from greasy Anna. 609 00:37:04,480 --> 00:37:06,080 Now it's gone!" 610 00:37:06,200 --> 00:37:08,120 'You will be freed from greasy Anna.' 611 00:37:10,000 --> 00:37:12,880 'And it's time for us to embrace quality.' 612 00:37:13,080 --> 00:37:16,720 'Introducing Beyond Snack Kerala Banana Chips.' 613 00:37:18,560 --> 00:37:21,400 'Our vision is to make a packet of Kerala banana chips' 614 00:37:21,520 --> 00:37:23,240 'as popular as a packet of potato chips' 615 00:37:23,320 --> 00:37:25,080 'in the Indian retail market.' 616 00:37:26,280 --> 00:37:27,880 'Sharks gave him a promising deal' 617 00:37:28,040 --> 00:37:29,880 'after being impressed with the product.' 618 00:37:30,600 --> 00:37:32,360 Shark Tank transformed my life. 619 00:37:32,560 --> 00:37:34,480 My business has grown by leaps and bounds. 620 00:37:34,560 --> 00:37:36,120 [drums beating] 621 00:37:58,120 --> 00:38:01,080 The banana chips production is overflowing like water. 622 00:38:02,840 --> 00:38:05,080 'We are introducing two new flavours today.' 623 00:38:05,280 --> 00:38:06,600 Very nice! 624 00:38:08,280 --> 00:38:11,160 He is employing our input and that's the biggest thing. 625 00:38:12,200 --> 00:38:14,240 'Teams are built and the number of retail outlets has increased.' 626 00:38:23,600 --> 00:38:25,480 [motivational music] 627 00:38:26,120 --> 00:38:27,680 My dream of selling a packet of banana chips 628 00:38:27,760 --> 00:38:30,280 alongside a potato chips packet is being fulfilled. 629 00:38:30,360 --> 00:38:34,640 Shark Tank covered all the aspects of our business and helped us grow. 630 00:38:36,880 --> 00:38:39,600 I can't even think what I would have done without Shark Tank. 631 00:38:39,760 --> 00:38:41,240 My life is completely changed. 632 00:38:41,320 --> 00:38:43,680 [triumphant music] 633 00:38:57,560 --> 00:38:59,520 [upbeat music] 634 00:39:12,720 --> 00:39:15,280 - Hi, Sharks! How does my hair look? - Hello! 635 00:39:15,440 --> 00:39:17,080 [funky music] 636 00:39:17,800 --> 00:39:18,960 They look nice, right? 637 00:39:19,200 --> 00:39:21,280 They didn't look like this earlier. 638 00:39:21,400 --> 00:39:25,720 Since my childhood, I struggled to manage my curly hair. 639 00:39:27,240 --> 00:39:29,000 "Noodles! Witch! A broom!" 640 00:39:29,080 --> 00:39:31,840 - Such comments were quite common. - My God! 641 00:39:32,480 --> 00:39:35,360 And it marred my confidence. 642 00:39:36,160 --> 00:39:38,080 My journey was quite similar 643 00:39:38,240 --> 00:39:41,320 so I went to the salon regularly and got my hair straightened. 644 00:39:41,400 --> 00:39:44,960 It resulted in dry and damaged hair. 645 00:39:45,120 --> 00:39:47,000 I experienced hair fall too. 646 00:39:48,200 --> 00:39:50,680 Sharks, this problem isn't limited to us. 647 00:39:50,760 --> 00:39:55,240 Around 60% of people in the world have curly, wavy and coiled hair. 648 00:39:56,640 --> 00:39:59,600 Either they don't know their actual hair type 649 00:39:59,760 --> 00:40:02,920 or they don't know how to manage their hair. 650 00:40:04,120 --> 00:40:07,440 Finally, when we embraced our curly hair, 651 00:40:07,600 --> 00:40:10,480 we couldn't find curly hair products in India. 652 00:40:10,720 --> 00:40:15,000 We had to import products from the US and the UK. It was too expensive. 653 00:40:16,240 --> 00:40:19,600 We wanted to make international quality available in India. 654 00:40:19,760 --> 00:40:21,880 So we launched MANETAIN. 655 00:40:22,080 --> 00:40:24,160 Hi, Sharks! I'm Hinshra. 656 00:40:24,360 --> 00:40:27,080 I'm 25 years old and I'm from Kochi, Kerala. 657 00:40:33,520 --> 00:40:35,280 'MANETAIN' 658 00:40:36,280 --> 00:40:37,880 MANETAIN is 659 00:40:37,960 --> 00:40:41,840 a one-stop solution for hair products and hair accessories. 660 00:40:41,960 --> 00:40:44,720 Our products can be used by all hair types. 661 00:40:44,920 --> 00:40:47,280 For example, straight, wavy and curly. 662 00:41:04,520 --> 00:41:08,840 and every frizz is a curl waiting to happen, our lives changed. 663 00:41:09,000 --> 00:41:12,280 We want to bring the same change in the lives of other people too. 664 00:41:12,360 --> 00:41:13,680 Good job! 665 00:41:13,880 --> 00:41:18,000 To do that, in exchange for 2.5% equity in our company, 666 00:41:18,160 --> 00:41:20,760 we seek an investment of Rs. 75 lakhs. 667 00:41:28,080 --> 00:41:29,400 Wonderful! 668 00:41:29,760 --> 00:41:31,880 - Welcome to Shark Tank! - Thank you! 669 00:41:37,640 --> 00:41:40,200 I love your colour-coordinated outfits. 670 00:41:40,680 --> 00:41:42,280 And I love your curly hair. 671 00:41:42,360 --> 00:41:43,160 - Thank you! - Thank you! 672 00:41:43,240 --> 00:41:44,560 You are looking gorgeous. 673 00:41:44,720 --> 00:41:45,840 Thank you so much! 674 00:41:45,920 --> 00:41:48,640 You said that people made fun of you. 675 00:41:48,720 --> 00:41:52,080 At what point did you feel, 676 00:41:52,160 --> 00:41:53,360 "I want to enjoy my curls"? 677 00:41:53,440 --> 00:41:55,880 What was the trigger point for the two of you? 678 00:41:56,000 --> 00:41:57,960 In 2016-17, 679 00:41:58,080 --> 00:42:00,640 we discovered The Curly Girl Method. 680 00:42:00,840 --> 00:42:03,880 It's a book written by a stylist. 681 00:42:03,960 --> 00:42:05,920 The name of the book is Curly Girl Method. 682 00:42:08,080 --> 00:42:11,160 Then we found the right way to manage such hair. 683 00:42:11,240 --> 00:42:14,680 There are certain rules that you must follow. 684 00:42:14,760 --> 00:42:17,840 Your hair product requires certain ingredients 685 00:42:18,040 --> 00:42:20,120 and we must fulfil those requirements. 686 00:42:20,920 --> 00:42:22,320 My wife has curly hair too. 687 00:42:26,280 --> 00:42:29,040 She bought some hair products similar to these and now people 688 00:42:29,120 --> 00:42:32,400 ask her if her hair is real or fake. 689 00:42:32,480 --> 00:42:35,280 - And now... - We face that question a lot. 690 00:42:35,360 --> 00:42:36,800 Now the curls look nice. 691 00:42:36,880 --> 00:42:40,600 Actually, earlier she didn't know 692 00:42:40,680 --> 00:42:44,160 how to manage her curly hair. It's a common problem in India. 693 00:42:50,840 --> 00:42:52,800 Actually, everyone can use them. 694 00:42:52,880 --> 00:42:55,200 Its ingredients are clean. 695 00:42:55,320 --> 00:42:58,800 It's sulphate, silicon and paraben free. It's water-soluble too. 696 00:42:58,880 --> 00:43:02,920 Your scalp health will improve with constant usage. 697 00:43:03,000 --> 00:43:06,160 So everyone can use them. It suits all kinds of hair. 698 00:43:07,240 --> 00:43:10,840 We'll talk about your product later. How do you two know each other? 699 00:43:11,160 --> 00:43:13,880 How did you two become friends despite a big age gap? 700 00:43:13,960 --> 00:43:16,520 Earlier, we had groups in our community. 701 00:43:21,160 --> 00:43:22,640 - Yes! - Oh, wow! 702 00:43:23,080 --> 00:43:24,120 Unbelievable! 703 00:43:24,880 --> 00:43:25,720 Where can we find this group? 704 00:43:25,760 --> 00:43:30,280 WhatsApp, Telegram, Facebook, Instagram and other such places. 705 00:43:31,800 --> 00:43:33,920 We became good friends. 706 00:43:34,000 --> 00:43:38,640 Then we decided to do something for our community as it had potential. 707 00:43:38,720 --> 00:43:41,080 - Did you two live in the same city or different cities? - No. 708 00:43:41,160 --> 00:43:43,120 - We lived in different cities. - We used to talk over the phone. 709 00:43:43,680 --> 00:43:45,680 Do you two live in the same city or different cities now? 710 00:43:45,760 --> 00:43:48,080 - I live in a different city but I keep coming. - She does up and down. 711 00:43:48,160 --> 00:43:50,680 - Where is your company based? - It's based in Mumbai. 712 00:43:50,840 --> 00:43:52,600 Is it convenient for the two of you? 713 00:43:52,680 --> 00:43:54,440 Our business runs online. 714 00:43:54,520 --> 00:43:56,320 Our responsibilities are divided 715 00:43:56,440 --> 00:43:59,160 and Hinshra looks after the online work. 716 00:43:59,240 --> 00:44:02,760 And I handle manufacturing, dispatch and other such things. 717 00:44:04,360 --> 00:44:07,520 What is your educational background? And what's your expertise? 718 00:44:07,600 --> 00:44:09,040 Namita would be interested to know that. 719 00:44:09,960 --> 00:44:13,080 - I'm a dentist by profession. - Wow! 720 00:44:13,160 --> 00:44:14,960 I have a science background 721 00:44:29,920 --> 00:44:32,400 - What about you? - I have a business background. 722 00:44:32,480 --> 00:44:37,000 I pursued BCom and then I worked at Deloitte as an audit assistant. 723 00:44:37,120 --> 00:44:39,000 I launched MANETAIN around that time. 724 00:44:39,040 --> 00:44:40,680 So you aren't working for any other business right now. 725 00:44:40,880 --> 00:44:44,600 I suffered a personal loss during Covid. 726 00:44:44,760 --> 00:44:47,280 - Sorry! - So I'm helping in my family business too. 727 00:44:47,360 --> 00:44:48,800 Otherwise, I work full-time for MANETAIN. 728 00:44:49,720 --> 00:44:51,240 How big this market can be? 729 00:44:51,320 --> 00:44:54,400 An article published in The Economic Times in 2018 730 00:44:54,480 --> 00:44:56,880 mentioned that it's a Rs. 200 crore industry. 731 00:44:57,920 --> 00:45:00,200 It's growing by 6% every year 732 00:45:00,360 --> 00:45:03,240 and it's a Rs. 250 crore to Rs. 300 crore industry right now. 733 00:45:08,680 --> 00:45:11,840 It's a wrong figure. It's about the p who're buying such products right now 734 00:45:12,000 --> 00:45:16,720 You must say, the market for hair products is worth Rs. 15,000 crores. 735 00:45:16,920 --> 00:45:17,840 Alright. 736 00:45:27,480 --> 00:45:30,200 - Can I show the products? Do you want to see them? - Yes! 737 00:45:30,280 --> 00:45:32,280 [ethereal music] 738 00:45:34,880 --> 00:45:37,320 - What is this? - It's the best-selling product. Conditioner. 739 00:45:37,440 --> 00:45:38,920 Okay. I'll just check these two. 740 00:45:39,000 --> 00:45:41,080 [ethereal music] 741 00:45:43,840 --> 00:45:44,880 Argh! 742 00:45:46,280 --> 00:45:48,000 - Rs. 1,250! - Rs. 1,250. 743 00:45:51,920 --> 00:45:53,280 What are your total sales? 744 00:45:53,360 --> 00:45:55,560 Sir, our net sales were worth Rs. 12 lakhs for the last month. 745 00:46:03,920 --> 00:46:07,280 Average net sales for the last six months was Rs. 10 lakhs. 746 00:47:07,400 --> 00:47:11,400 And for some hair accessories, it goes up to 75%. 747 00:47:11,920 --> 00:47:13,640 What is your customer acquisition cost? 748 00:47:13,720 --> 00:47:14,760 It's around Rs. 200 to Rs. 250. 749 00:47:19,840 --> 00:47:22,360 Firstly, the price point 750 00:47:22,480 --> 00:47:26,080 is in the range of Rs. 1,250 to Rs. 1,650. Let's round it to Rs. 1,000. 751 00:47:26,200 --> 00:47:30,080 I have spoken to other hair brands that keep specialised hair products. 752 00:47:30,160 --> 00:47:34,800 They sell online products worth Rs. 500 or Rs. 600 with difficulty. 753 00:47:36,160 --> 00:47:39,880 In India, the market for products priced at Rs. 1,200 and Rs. 1,600 754 00:47:40,000 --> 00:47:41,400 is not even 1%. 755 00:47:42,800 --> 00:47:46,360 You spent 3-4 years in this business but you don't have a pricing sense. 756 00:47:46,440 --> 00:47:50,400 Secondly, this category is a word-of-mouth category. 757 00:47:50,480 --> 00:47:55,200 Primarily, the girls who have this problem should know about you. 758 00:47:56,880 --> 00:48:00,360 The influencers having curly hair should have recommended you by now. 759 00:48:00,520 --> 00:48:03,240 - Yes! - I think there is an execution gap. 760 00:48:03,360 --> 00:48:05,880 Your scale is too small compared to other brands 761 00:48:05,960 --> 00:48:08,480 that have scaled profitably in lesser time. 762 00:48:08,560 --> 00:48:10,280 So for that reason, I'm out. 763 00:48:11,200 --> 00:48:12,800 It's an early stage for me 764 00:48:12,960 --> 00:48:15,480 because your sale is just Rs. 1 crore. 765 00:48:16,360 --> 00:48:17,680 The pricing is too high. 766 00:48:18,360 --> 00:48:20,880 It's too early for me but I wish you the best. 767 00:48:21,000 --> 00:48:22,240 - Thank you! - Thank you! 768 00:48:23,000 --> 00:48:25,560 Do you sell on your website or the marketplaces? 769 00:48:25,680 --> 00:48:28,080 - We sell on marketplaces too. - What's the split exactly? 770 00:48:38,200 --> 00:48:41,600 Nykaa is in process, Sublime, 771 00:48:41,720 --> 00:48:45,000 - and Vanity Wagon and we have a small distributor too. - Alright! 772 00:48:45,120 --> 00:48:47,720 My question is as it's so difficult to sell these, 773 00:48:47,800 --> 00:48:50,560 how do you sell products on Amazon and Nykaa? 774 00:48:50,640 --> 00:48:53,440 Our agency for performance marketing 775 00:48:53,520 --> 00:48:57,560 is managing our business well since they came on board. 776 00:48:57,680 --> 00:49:00,960 We have observed constant growth in Amazon sales. 777 00:49:01,040 --> 00:49:04,160 Why don't you do it yourself? Or you don't have the time? 778 00:49:04,240 --> 00:49:06,320 Sir, we don't have expertise. 779 00:49:07,800 --> 00:49:10,720 I don't agree. Let me tell you that when we started out, 780 00:49:10,800 --> 00:49:13,840 a performance marketing agency might not give you good service. 781 00:49:14,480 --> 00:49:18,080 You should have knowledge too. You're managing them so you should 782 00:49:18,240 --> 00:49:19,840 also know what they are doing. 783 00:49:19,920 --> 00:49:23,680 - Yes. We are constantly in touch with them. - It's a small agency. 784 00:49:23,800 --> 00:49:25,760 - They are a hands-on agency. - It's a small agency. 785 00:49:26,400 --> 00:49:27,880 I made my decision too. 786 00:49:27,960 --> 00:49:30,800 Let me tell you, I had an interest in this category and the product. 787 00:49:30,920 --> 00:49:33,480 The problem is if you want to make a mass premium brand, 788 00:49:33,840 --> 00:49:35,840 you need a marketing instinct. 789 00:49:36,200 --> 00:49:37,960 And I find that missing in you, 790 00:49:39,640 --> 00:49:41,000 based on 791 00:49:41,320 --> 00:49:44,760 the way you have packaged and priced your product. 792 00:49:46,720 --> 00:49:48,480 For that reason, I'm out. Good luck! 793 00:49:48,680 --> 00:49:49,920 - Thank you! - Thank you! 794 00:49:50,240 --> 00:49:54,320 Firstly, let me tell you candidly that you need to face the truth. 795 00:49:54,440 --> 00:49:56,640 Your branding is atrocious in my view. 796 00:49:58,680 --> 00:50:01,880 If your product is placed like this, I can only read MANETAIN. 797 00:50:04,280 --> 00:50:06,280 And if it's placed this way, I can read only 'soap clean'. 798 00:50:06,400 --> 00:50:08,680 When the product is kept on the shelf, what would people read? 799 00:50:08,840 --> 00:50:10,840 You can't increase your customers based on the value proposition. 800 00:50:11,880 --> 00:50:16,040 Your whole pitch was based on curly hair and its maintenance 801 00:50:16,240 --> 00:50:19,760 but none of your products mentions that they are meant for curly hair. 802 00:50:21,520 --> 00:50:24,400 You should showcase the value proposition. 803 00:50:26,240 --> 00:50:29,600 My last point is, I think you two are doing it for passing your time. 804 00:50:29,720 --> 00:50:32,000 [dramatic music] 805 00:50:32,800 --> 00:50:35,960 For 4 years you've been distracted by your other income sources. 806 00:50:36,040 --> 00:50:37,440 I feel there's a lack of founder commitment. 807 00:50:37,600 --> 00:50:40,680 Amit, isn't 'passing time' a harsh phrase? 808 00:50:40,800 --> 00:50:43,720 Yes, it is. And I want to be harsh because that's the way we should be. 809 00:50:45,120 --> 00:50:48,080 A founder must put 100% effort into their business. 810 00:50:48,200 --> 00:50:49,560 They can't juggle multiple professions. 811 00:50:52,560 --> 00:50:56,960 I advise you two to come together and stay in one city. 812 00:50:57,200 --> 00:50:59,040 Then you get the passion to think of new ideas. 813 00:50:59,240 --> 00:51:00,080 Lastly, I think digital marketing 814 00:51:00,160 --> 00:51:01,720 can play a big role in your business. 815 00:51:02,800 --> 00:51:06,040 In my view, it's difficult for your product to pick up on its own. 816 00:51:06,320 --> 00:51:08,280 I want to be out today but I wish you all the best. 817 00:51:08,360 --> 00:51:09,480 - Thank you! - Thank you! 818 00:51:10,040 --> 00:51:11,920 Why fear when Aman is here? 819 00:51:12,000 --> 00:51:13,760 [laughing] 820 00:51:15,600 --> 00:51:17,520 I think you aren't passing time. 821 00:51:17,600 --> 00:51:19,240 [dramatic music] 822 00:51:20,600 --> 00:51:22,880 When I started my business, I didn't have money. 823 00:51:24,640 --> 00:51:28,200 I consulted two to three brands that helped me run my household. 824 00:51:29,920 --> 00:51:33,160 An entrepreneur needs to do other jobs too to grow their business. 825 00:51:33,280 --> 00:51:34,960 Aman, nobody does it for four years. 826 00:51:35,120 --> 00:51:37,320 It happens. They may work until their business scales up. 827 00:51:37,400 --> 00:51:38,960 But four years! Are you serious? 828 00:51:39,280 --> 00:51:40,760 - It's a point of view. - Point of view. 829 00:51:42,920 --> 00:51:44,600 You may stay in different cities. It's not a problem. 830 00:51:44,720 --> 00:51:48,360 It happened to me too. We made a big company and it's doing well. 831 00:51:50,120 --> 00:51:53,280 Now people are working from home so I don't agree with that. 832 00:51:53,400 --> 00:51:55,120 [dramatic music] 833 00:51:55,720 --> 00:51:58,960 Your product is fine and you two are passionate entrepreneurs 834 00:51:59,240 --> 00:52:04,200 but you need a person who can run the business for you. Do you agree? 835 00:52:04,600 --> 00:52:07,160 - Yes, we feel that too. - So I have an offer for you. 836 00:52:07,680 --> 00:52:08,920 It's a conditional offer. 837 00:52:09,000 --> 00:52:10,720 [thrilling music] 838 00:52:12,200 --> 00:52:13,840 It's based on the fact that you'll appoint a CMO 839 00:52:15,360 --> 00:52:16,760 who will take care of your business. 840 00:52:17,400 --> 00:52:20,120 As everyone said that there are packaging issues. That's true. 841 00:52:20,240 --> 00:52:21,560 Yes! 842 00:52:22,280 --> 00:52:23,680 Brand vibes-related issues too. 843 00:52:24,560 --> 00:52:27,840 You must focus on performance marketing. 844 00:52:36,320 --> 00:52:38,600 - You need to appoint a CMO. - Okay. 845 00:52:38,960 --> 00:52:41,280 My offer to you is Rs. 75 lakhs 846 00:52:52,120 --> 00:52:53,920 Can we say we need to talk in private? 847 00:52:54,000 --> 00:52:55,880 Yes! You may say that. We heard it. You may go. 848 00:52:55,960 --> 00:52:57,560 Yes! [laughing] 849 00:53:28,680 --> 00:53:30,440 - Can we counter you? - Yes, please. 850 00:53:30,520 --> 00:53:33,840 Sir, Rs. 75 lakhs for 7.5% equity. 851 00:53:42,600 --> 00:53:45,720 It's more than the revenue multiple people are getting nowadays. 852 00:53:45,880 --> 00:53:47,800 And I don't want more than 10% 853 00:53:47,920 --> 00:53:51,200 because I think your future CMO or co-founder 854 00:53:51,280 --> 00:53:53,360 will need some equity too. 855 00:53:54,760 --> 00:53:57,920 I like you two and I understand 856 00:53:58,040 --> 00:54:00,960 that you don't have an idea about the valuation. 857 00:54:01,040 --> 00:54:02,200 That's the only help 858 00:54:02,320 --> 00:54:05,160 I can give you because I can feel that you don't know 859 00:54:05,400 --> 00:54:07,760 a lot of things. And I can guide you. That's it! 860 00:54:09,600 --> 00:54:10,680 Correct! 861 00:54:13,280 --> 00:54:15,440 - Okay. The deal is done! - Thank you! 862 00:54:25,880 --> 00:54:27,800 [joyful music] 863 00:54:28,040 --> 00:54:31,400 - Good job! Let's do it. - Aman's favourite colour is pink. 864 00:54:32,600 --> 00:54:35,400 - Thank you, guys! - Well done! 865 00:54:35,520 --> 00:54:38,080 [joyful music] 866 00:54:38,960 --> 00:54:41,280 Priya will get a lifelong supply now. 867 00:54:41,360 --> 00:54:43,400 Free products for her. She spends a lot of money on these products. 868 00:54:43,480 --> 00:54:44,560 Priya will be ecstatic. 869 00:54:44,640 --> 00:54:46,160 Aman, you won't get your money back. 870 00:54:46,360 --> 00:54:49,160 - I hope he gets them back. - I'll get them back. 871 00:57:35,000 --> 00:57:37,480 'In today's Shark Xperience segment, Anupam,' 872 00:57:37,640 --> 00:57:39,320 'Anmol from Pune has a question for you.' 873 00:57:39,400 --> 00:57:41,440 'I'm curious to know' 874 00:57:41,720 --> 00:57:45,600 'who gave you the first investment cheque of your life' 875 00:57:46,120 --> 00:57:47,560 'and when?' 876 00:57:47,880 --> 00:57:51,520 In the middle of 2005, I realised 877 00:57:51,880 --> 00:57:55,480 that competition will increase in future and we'd need investment. 878 00:57:55,600 --> 00:57:59,280 Back then VCs and PEs weren't a norm in India. 879 00:57:59,400 --> 00:58:02,680 So I packed my suitcase to go to the US. 880 00:58:02,760 --> 00:58:06,160 Reputed VCs could be found in Silicon Valley. 881 00:58:06,600 --> 00:58:09,280 I took rounds of that place for a week. 882 00:58:09,440 --> 00:58:13,840 I had several meetings. I went to Boston, New York and Washington DC.