1 00:00:29,960 --> 00:00:32,600 [theme music playing] 2 00:00:40,120 --> 00:00:42,760 [theme music fades] 3 00:00:43,040 --> 00:00:44,160 Whoa! 4 00:00:47,280 --> 00:00:49,040 Hey! Have you heard? 5 00:00:49,160 --> 00:00:53,560 Aman just had the classic case of the 4 pm hunger pangs! 6 00:00:53,960 --> 00:00:55,200 Are you serious? 7 00:00:55,320 --> 00:00:57,320 It happened even with my friend Vineeta. 8 00:00:58,200 --> 00:00:59,720 They were both alright until the afternoon. 9 00:01:00,160 --> 00:01:01,600 - I wonder what happened. - They are crazy. 10 00:01:02,080 --> 00:01:03,120 Sharks. 11 00:01:03,960 --> 00:01:05,760 Does this happen to you? 12 00:01:05,880 --> 00:01:08,840 The journey from morning's high-protein breakfast 13 00:01:08,960 --> 00:01:12,120 to a healthy homemade lunch 14 00:01:12,280 --> 00:01:14,600 is very easily made. 15 00:01:14,920 --> 00:01:17,400 But the moment the clock strikes 4, 16 00:01:17,560 --> 00:01:19,320 the world comes to a halt. 17 00:01:21,080 --> 00:01:23,640 You become oblivious to your surroundings. 18 00:01:24,240 --> 00:01:28,800 The only thing you are cognisant of is your hunger pangs. 19 00:01:29,520 --> 00:01:30,360 I agree. 20 00:01:30,480 --> 00:01:34,160 And you gorge on samosas, pakoras, 21 00:01:34,280 --> 00:01:35,760 biscuits and fried chips. 22 00:01:35,880 --> 00:01:38,000 But, Sharks, don't worry. 23 00:01:38,080 --> 00:01:41,640 We have a solution to your 4 pm hunger pangs! 24 00:01:42,760 --> 00:01:45,840 The superhero of snacking, Green Snack Co.! 25 00:01:45,920 --> 00:01:48,600 Alright. Nice. 26 00:01:50,080 --> 00:01:51,680 My name is Jasmine Kaur. 27 00:01:51,760 --> 00:01:54,800 I am the CEO and co-founder of Green Snack Co. 28 00:01:55,840 --> 00:01:57,320 My name is Chetan Sharda. 29 00:02:04,240 --> 00:02:07,600 Our products are made of ingredients 30 00:02:07,680 --> 00:02:10,400 that are healthy for your body. 31 00:02:17,040 --> 00:02:19,960 [euphoric music playing] 32 00:02:29,600 --> 00:02:30,560 But we didn't give up. 33 00:02:30,680 --> 00:02:34,680 We grew the business again step by step. 34 00:02:36,640 --> 00:02:40,360 Over 10 lakh people have already tried our products. 35 00:02:40,480 --> 00:02:42,480 By way of Shark Tank, 36 00:02:42,600 --> 00:02:44,320 we want to reach all those people 37 00:02:44,400 --> 00:02:48,240 who strive to better their lives as well as health. 38 00:02:48,320 --> 00:02:52,400 Our ask is Rs. 1 crore for 2% equity. 39 00:02:56,200 --> 00:02:57,760 Jasmine and Chetan... 40 00:02:57,840 --> 00:02:59,880 - Yes. - Welcome to Shark Tank. 41 00:03:00,000 --> 00:03:00,920 - Thank you. - Thank you so much. 42 00:03:00,960 --> 00:03:03,320 Who doesn't like healthy food? 43 00:03:06,960 --> 00:03:08,400 - Yes. - So, very relevant point. 44 00:03:08,520 --> 00:03:10,160 And I'm assuming you are related. 45 00:03:10,240 --> 00:03:12,800 - Yes. - We are husband and wife. You are absolutely right. 46 00:03:12,880 --> 00:03:14,760 - Tell us your background. - Yes. 47 00:03:14,840 --> 00:03:16,240 What is your education? 48 00:03:16,280 --> 00:03:18,880 How did this business idea occur to you? 49 00:03:19,080 --> 00:03:20,640 - Tell us about your journey. - Sure. 50 00:03:20,720 --> 00:03:23,520 I graduated from Delhi University. 51 00:03:23,680 --> 00:03:24,640 Okay. 52 00:03:24,840 --> 00:03:28,000 I did my MBA from LBSIM, Delhi. 53 00:03:39,240 --> 00:03:40,640 What was your role in Marico? 54 00:03:40,720 --> 00:03:43,080 I was handling the retail part of the business 55 00:03:43,160 --> 00:03:45,000 for this brand called Kaya. 56 00:03:45,080 --> 00:03:46,960 They wanted to launch a skincare format. 57 00:03:47,040 --> 00:03:48,880 I set up the business from scratch. 58 00:03:49,000 --> 00:03:50,880 From the name to where it would be opened. 59 00:03:50,880 --> 00:03:52,880 - Hiring teams... - Did you manage its profit and loss? 60 00:03:52,960 --> 00:03:55,560 Yes, entirely from scratch. 61 00:03:55,640 --> 00:03:58,720 That was almost an entrepreneurial venture for me. 62 00:03:58,760 --> 00:03:59,680 Fantastic! 63 00:04:00,000 --> 00:04:03,120 Sharks, I did my schooling and graduation from Delhi. 64 00:04:03,240 --> 00:04:04,600 I did my MBA from Symbiosis. 65 00:04:04,720 --> 00:04:07,160 I came to Mumbai through the placement. 66 00:04:07,280 --> 00:04:09,800 I spent 8 years in real estate. 67 00:04:09,880 --> 00:04:13,120 And then, Jasmine gave this opportunity to me. 68 00:04:13,160 --> 00:04:15,880 - Let's start this... - Oh! I love the way you've put it! 69 00:04:15,920 --> 00:04:17,280 - I love it. - Yes. 70 00:04:17,360 --> 00:04:20,280 - That's why she's the CEO. - Oh, yes! Absolutely. 71 00:04:20,520 --> 00:04:24,120 This actually stemmed from a personal pain point. 72 00:04:24,240 --> 00:04:26,640 I belong to a Punjabi family. I'm a sardarni. 73 00:04:26,680 --> 00:04:27,640 Yes. 74 00:04:27,960 --> 00:04:30,640 I've eaten loads of butter chicken during my life. 75 00:04:30,960 --> 00:04:33,560 - Owing to that... - Good job. 76 00:04:33,880 --> 00:04:36,240 I experienced weight gain and all of that, so... 77 00:04:46,480 --> 00:04:48,400 Why aren't there products 78 00:04:48,640 --> 00:04:51,000 that are authentically healthy 79 00:04:51,080 --> 00:04:53,080 - as well as really tasty? - Hmm. 80 00:04:53,080 --> 00:04:56,360 Honestly, as a Punjabi, I don't want to eat anything that's not tasty. 81 00:04:56,440 --> 00:04:57,760 It's as simple as that. 82 00:04:59,440 --> 00:05:01,360 The product has to be tasty. 83 00:05:01,440 --> 00:05:05,560 I didn't get that balance at the time that I started out. 84 00:05:05,720 --> 00:05:07,160 Our motto is 85 00:05:07,240 --> 00:05:09,720 that you should be able to have these products daily. 86 00:05:09,800 --> 00:05:12,240 It's not like I eat them now because I'm following a diet. 87 00:05:12,360 --> 00:05:14,360 If we should be eating it daily, then why don't you offer them to us? 88 00:05:14,440 --> 00:05:16,400 - Absolutely, right away! - Right away. 89 00:05:16,480 --> 00:05:18,120 My habit has rubbed off on them. 90 00:05:18,200 --> 00:05:19,880 [Sharks laugh] 91 00:05:20,760 --> 00:05:22,560 Hello. Thank you. 92 00:05:24,560 --> 00:05:27,240 - Yum! This looks really good. - Thank you. 93 00:05:27,320 --> 00:05:28,440 - Wow! - Ah, nice. 94 00:05:41,720 --> 00:05:43,320 - It's quite spicy. - Hmm. 95 00:05:43,360 --> 00:05:47,360 But you won't believe that this is our number one selling product. 96 00:05:52,600 --> 00:05:54,720 But we've coated it with dark chocolate. 97 00:05:54,760 --> 00:05:55,840 - Coated it. - It tastes good. 98 00:05:55,920 --> 00:05:56,880 - It's very good. - It's great. 99 00:05:57,000 --> 00:05:58,440 - I tried it. - It never occurred to me 100 00:05:58,480 --> 00:06:00,280 that quinoa puffs and chocolate make a great combination. 101 00:06:00,360 --> 00:06:02,280 - It's amazing. - It's such a good substitute 102 00:06:02,280 --> 00:06:04,160 for my 11-year-old who loves chocolate. 103 00:06:10,040 --> 00:06:12,720 - Children prefer this. - And what's this? 104 00:06:12,800 --> 00:06:14,680 This product is called Super Stix 105 00:06:14,760 --> 00:06:16,760 which is made from ragi and soya. 106 00:06:18,520 --> 00:06:19,360 Yummy! 107 00:06:19,440 --> 00:06:20,840 - Just amazing. - It's very tasty. 108 00:06:21,200 --> 00:06:22,400 Very yummy. 109 00:06:25,040 --> 00:06:28,560 What is your current split between offline and online sales? 110 00:06:28,640 --> 00:06:31,560 Our online business gives 10 to 15% sales. 111 00:06:31,640 --> 00:06:34,320 - Okay. - And 85% of sales are offline. 112 00:06:34,400 --> 00:06:37,400 And quick commerce is another 15 to 20%. 113 00:06:37,480 --> 00:06:39,320 - Within 85%? - Yes, right. 114 00:06:44,600 --> 00:06:45,880 Out of offline, 115 00:06:45,880 --> 00:06:47,720 how much is modern trade and how much is general trade? 116 00:06:47,840 --> 00:06:50,760 Out of the 100% of offline sales happening right now, 117 00:06:53,760 --> 00:06:54,640 Okay. 118 00:07:06,640 --> 00:07:09,400 That it contains 1130 mg of sodium. 119 00:07:09,640 --> 00:07:10,920 In 100 gm. 120 00:07:12,040 --> 00:07:13,440 Isn't that too much? 121 00:07:14,160 --> 00:07:16,360 [intense music playing] 122 00:07:16,720 --> 00:07:21,560 And you know that sodium is the biggest enemy of heart health. 123 00:07:23,840 --> 00:07:25,440 What have you done? I ate the whole thing. 124 00:07:26,520 --> 00:07:31,080 We do not use any artificial flavour enhancers whatsoever. 125 00:07:31,160 --> 00:07:33,800 So, salt is present at a basic level 126 00:07:33,880 --> 00:07:36,640 and that is what gives you a rounder snack flavour. 127 00:07:36,720 --> 00:07:38,840 Otherwise, you don't feel like you're eating snacks. 128 00:07:38,880 --> 00:07:40,320 I mean, that's the honest truth. 129 00:07:41,640 --> 00:07:43,200 - Is this healthy? - Yes. 130 00:07:43,280 --> 00:07:44,520 Sir, it's absolutely healthy. 131 00:07:44,600 --> 00:07:46,720 As compared to normal snacks, it contains 50% more protein, 132 00:07:46,800 --> 00:07:48,320 50% more fibre, 133 00:07:48,400 --> 00:07:50,680 and a lot more micro-nutrients and others. 134 00:07:50,720 --> 00:07:51,960 Jasmine, I don't agree with you. 135 00:07:54,400 --> 00:07:56,720 Yes, take a look at the information chart on the back. 136 00:07:56,920 --> 00:07:58,840 I was looking at it too. I have marked it. 137 00:07:59,720 --> 00:08:01,520 Let us rephrase. 138 00:08:02,440 --> 00:08:06,320 - Right. - This is healthier as compared to normal snacks. 139 00:08:07,680 --> 00:08:09,480 But that's not called healthy. 140 00:08:09,560 --> 00:08:11,560 [intense music playing] 141 00:08:19,280 --> 00:08:21,800 - Sir, this is definitely better for you. - Okay. 142 00:08:21,840 --> 00:08:23,640 This does not contain 143 00:08:23,720 --> 00:08:26,280 a lot of ingredients that mainstream snacks do. 144 00:08:26,400 --> 00:08:29,800 Whether it is preservatives, MSG, artificial flavours and colours, 145 00:08:29,920 --> 00:08:31,640 and others things. 146 00:08:33,040 --> 00:08:35,080 - Can you give me the revenue numbers? - Yes. 147 00:08:35,160 --> 00:08:37,600 - Tell me about your growth in the last few years. - Yes. 148 00:08:37,680 --> 00:08:42,080 When we started in 2015-16, our annual revenue was Rs. 40 lakhs. 149 00:08:43,360 --> 00:08:46,360 Then in 2017-18, we hit Rs. 2 crores. 150 00:08:49,360 --> 00:08:50,560 And then again, 151 00:08:50,680 --> 00:08:52,720 we had a revenue of Rs. 5 to 7 crores 152 00:08:52,800 --> 00:08:55,920 on an average before covid. 153 00:08:56,040 --> 00:08:57,320 And when covid hit, 154 00:08:57,400 --> 00:09:00,040 - it was majorly impacted. - Could you quantify it? 155 00:09:00,080 --> 00:09:00,960 Put it in numbers. 156 00:09:01,120 --> 00:09:02,760 If you look at the revenue for 2020-21, 157 00:09:02,800 --> 00:09:04,960 it dropped by almost 50%. 158 00:09:06,560 --> 00:09:09,320 We did a revenue of Rs. 2.5 crores that year. 159 00:09:09,400 --> 00:09:13,240 But last year, our revenue was Rs. 4 crores. 160 00:09:13,320 --> 00:09:16,280 - Very nice. - We will definitely cross it this year. 161 00:09:16,400 --> 00:09:17,520 What was it last month? 162 00:09:17,600 --> 00:09:20,000 - Six... - Last month's revenue was Rs. 25 lakhs. 163 00:09:20,080 --> 00:09:22,040 What's happening? Why is business slacking? 164 00:09:22,280 --> 00:09:24,000 [intense music playing] 165 00:09:24,160 --> 00:09:25,520 The business has dropped. 166 00:09:30,240 --> 00:09:32,600 [tense music playing] 167 00:09:33,440 --> 00:09:36,160 - Even back then, you did it without any funding. - Yes, right. 168 00:09:36,240 --> 00:09:38,480 Then why just Rs. 25 lakhs now? Why have sales dipped? 169 00:09:38,560 --> 00:09:41,360 - Sir, we did raise funding back then. - Ah! 170 00:09:41,560 --> 00:09:44,280 We raised the first round of funding in 2016. 171 00:09:44,360 --> 00:09:46,240 It was through angel investors. 172 00:09:46,320 --> 00:09:48,000 They invested Rs. 1 crore. 173 00:10:24,400 --> 00:10:25,520 I wish to add something here. 174 00:10:25,560 --> 00:10:28,600 We had reached Rs. 70 to 80 lakhs net revenue 175 00:10:28,720 --> 00:10:32,200 and we were to raise a large Series A. 176 00:10:32,280 --> 00:10:34,840 But because covid set in, that round didn't happen. 177 00:10:34,960 --> 00:10:37,000 - And we could raise just Rs. 5 crores. - Hmm. 178 00:10:37,120 --> 00:10:38,920 And this was right before covid. 179 00:10:39,000 --> 00:10:40,520 And you raised Rs. 5 crores still. 180 00:10:40,760 --> 00:10:43,240 - Yes. - What was the valuation? Was Rs. 5 crores a bridge round too? 181 00:10:44,640 --> 00:10:48,200 The 8 and 5 crores together... It's actually 8 and 5.5 crores. 182 00:10:58,600 --> 00:11:00,480 - How much... - 53% equity. 183 00:11:02,560 --> 00:11:03,960 Is it equally divided between you two? 184 00:11:04,040 --> 00:11:05,240 - Yes. - Yes, equally divided. 185 00:11:09,440 --> 00:11:11,680 and hit Rs. 2 crores sales per month. 186 00:11:11,800 --> 00:11:13,080 - So... - And are profitable too. 187 00:11:14,320 --> 00:11:16,000 What skill do you think is missing? 188 00:11:16,120 --> 00:11:19,960 Sir, the biggest thing we feel that's missing is working capital. 189 00:11:20,160 --> 00:11:22,080 We have a lot of pending orders... 190 00:11:22,160 --> 00:11:25,560 - But you've raised Rs. 25 crores... - I am talking currently, 191 00:11:25,600 --> 00:11:27,360 which is the time after covid. 192 00:11:28,360 --> 00:11:29,800 What was last year's loss? 193 00:11:29,880 --> 00:11:32,160 - Around Rs. 1.5 crores. - Rs. 1.5 crores. 194 00:11:32,360 --> 00:11:34,400 [tense music playing] 195 00:11:34,760 --> 00:11:35,880 We brought our burn down, 196 00:11:35,880 --> 00:11:37,480 that earlier was Rs. 50 to 60 lakhs per month, 197 00:11:37,560 --> 00:11:38,960 to Rs. 20 lakhs a month. 198 00:11:39,040 --> 00:11:40,640 Now, we are almost at breakeven. 199 00:11:40,760 --> 00:11:44,040 I'd like to add one more thing if we talk about pre-covid. 200 00:11:44,160 --> 00:11:46,200 You need money to run an FMCG business 201 00:11:46,200 --> 00:11:47,280 and that's the reality. 202 00:11:47,360 --> 00:11:49,200 If you want to reach out to the customer offline, 203 00:11:49,240 --> 00:11:50,160 you have to spend 204 00:11:50,280 --> 00:11:52,200 be it any format. 205 00:11:52,320 --> 00:11:53,520 I don't agree. 206 00:11:53,640 --> 00:11:55,320 [intense music playing] 207 00:11:59,600 --> 00:12:00,840 And the second was Let's Try. 208 00:12:01,000 --> 00:12:03,320 Both are doing good business and a healthy business. 209 00:12:03,360 --> 00:12:04,880 And they're building a profitable business. 210 00:12:05,040 --> 00:12:06,920 So, I'd like to be out of this deal. 211 00:12:07,040 --> 00:12:08,880 [tense music playing] 212 00:12:10,560 --> 00:12:12,840 You've already raised a lot of funds. 213 00:12:13,040 --> 00:12:14,880 [intense music playing] 214 00:12:15,280 --> 00:12:19,080 Secondly, I am not clear on your financial metrics. 215 00:12:19,160 --> 00:12:22,200 I don't know how you will make money. 216 00:12:22,360 --> 00:12:23,960 For those two reasons, I am out. 217 00:12:26,280 --> 00:12:28,800 I, too, have made my decision. So, let me tell you. 218 00:12:28,880 --> 00:12:31,120 [tense music playing] 219 00:12:31,440 --> 00:12:33,800 I generally don't invest in companies 220 00:12:34,000 --> 00:12:35,440 with questionable health claims. 221 00:12:35,520 --> 00:12:37,960 [intense music playing] 222 00:12:39,440 --> 00:12:41,080 Okay? This is the biggest issue. 223 00:12:41,200 --> 00:12:42,640 The second problem I see is 224 00:12:42,720 --> 00:12:44,960 you suffer from legacy thinking. 225 00:12:45,240 --> 00:12:49,160 You worked in FMCG and private banking for so many years. 226 00:12:49,240 --> 00:12:52,560 You've got this in your head that there are a fixed set of rules. 227 00:12:52,840 --> 00:12:54,880 And businesses run on those rules. 228 00:12:55,160 --> 00:12:57,000 Disruption is the way forward. 229 00:12:57,280 --> 00:12:59,640 And now is a time to build frugally. 230 00:13:00,040 --> 00:13:03,040 You have to break the rules to create great businesses. 231 00:13:03,120 --> 00:13:05,120 You are not able to break those rules. 232 00:13:05,200 --> 00:13:09,080 And in a cluttered market, you are hell-bent on 233 00:13:09,160 --> 00:13:11,720 getting more funds to make this business grow. 234 00:13:11,800 --> 00:13:13,360 So, I think you should rethink, 235 00:13:14,280 --> 00:13:16,400 reassess and re-evaluate. 236 00:13:17,600 --> 00:13:19,560 For those reasons, I am out. All the best. 237 00:13:19,920 --> 00:13:22,720 [melancholy music playing] 238 00:13:24,160 --> 00:13:26,920 I have a problem with the sodium content. 239 00:13:27,080 --> 00:13:28,840 [intense music playing] 240 00:13:29,120 --> 00:13:31,120 I don't think it's the healthiest thing, 241 00:13:33,240 --> 00:13:36,080 But I wish you the best. I cannot be a part of this journey. 242 00:13:36,200 --> 00:13:38,400 [sombre music playing] 243 00:13:39,520 --> 00:13:43,600 On Shark Tank, we have seen businesses from small cities 244 00:13:43,920 --> 00:13:45,600 coming here with profitable food brands. 245 00:13:45,680 --> 00:13:48,840 They have cracked the art of using marketplaces well. 246 00:13:48,920 --> 00:13:52,160 Even now, going by your ratio, you're relying on offline. 247 00:13:52,200 --> 00:13:54,600 This used to be in fashion back in your time. 248 00:13:54,680 --> 00:13:57,080 But you need a new-age cofounder in my view 249 00:13:57,280 --> 00:13:59,360 who is an expert in digital marketing. 250 00:13:59,480 --> 00:14:02,720 It'd be better to get someone like that on board I feel. 251 00:14:03,400 --> 00:14:05,240 I think there's a lot for you to still learn 252 00:14:05,280 --> 00:14:06,600 despite spending so much money. 253 00:14:07,080 --> 00:14:08,600 [intense music playing] 254 00:14:09,120 --> 00:14:12,160 So, I am out, but I wish you all the best. 255 00:14:14,120 --> 00:14:16,320 Four Sharks are out, but Vineeta is left. 256 00:14:18,040 --> 00:14:19,360 How much money is left in the bank? 257 00:14:19,480 --> 00:14:21,640 About Rs. 10 lakhs is what we have in the bank. 258 00:14:22,320 --> 00:14:23,560 Wow! 259 00:14:24,320 --> 00:14:26,720 How will you pay next month's salaries? 260 00:14:26,800 --> 00:14:27,920 Working capital will be needed... 261 00:14:28,000 --> 00:14:29,880 If you're so worried, make them an offer. 262 00:14:31,920 --> 00:14:34,040 Please mind your own business. 263 00:14:35,400 --> 00:14:36,320 Good job. 264 00:14:38,520 --> 00:14:40,760 The truth is, without mincing my words, 265 00:14:40,840 --> 00:14:41,920 you're at rock bottom. 266 00:14:41,960 --> 00:14:43,160 You're in a tight spot. 267 00:14:44,120 --> 00:14:47,560 We have orders worth Rs. 40 to 50 lakhs per month. 268 00:14:48,800 --> 00:14:52,560 Out of which, we supply worth of Rs. 20 to 25 lakhs. 269 00:14:52,720 --> 00:14:55,200 Predominantly there are working capital concerns. 270 00:14:56,360 --> 00:14:58,640 - If you don't get funding from here... - Yes? 271 00:14:58,720 --> 00:15:00,120 I don't think you'll get it from outside. 272 00:15:00,160 --> 00:15:02,040 You barely have funds left. 273 00:15:02,160 --> 00:15:05,040 Will you try to run this business for the next 5 years 274 00:15:05,120 --> 00:15:08,000 or will you think of shutting this down and doing something else? 275 00:15:08,080 --> 00:15:10,120 [intense music playing] 276 00:15:10,200 --> 00:15:14,040 We have definitely spent a lot of time on this business 277 00:15:14,240 --> 00:15:16,400 and we wish to give it our best shot. 278 00:15:17,360 --> 00:15:20,040 We personally believe in the philosophy that 279 00:15:20,080 --> 00:15:23,480 you can play only as long as you're in the game. 280 00:15:25,680 --> 00:15:27,160 If you're out, then you're out. 281 00:15:28,240 --> 00:15:30,880 If I had shut down six months ago 282 00:15:30,960 --> 00:15:33,680 for the lack of funds or the fear of running out of them, 283 00:15:33,800 --> 00:15:35,280 I wouldn't have been here today. 284 00:15:36,920 --> 00:15:39,000 The product and brand have it in them. 285 00:15:39,080 --> 00:15:41,480 That is why we do sales of Rs. 25 lakhs even today 286 00:15:41,680 --> 00:15:43,080 without any marketing. 287 00:15:43,760 --> 00:15:45,640 During rock-bottom situations, 288 00:15:45,720 --> 00:15:48,760 the learning you get as a founder, 289 00:15:48,840 --> 00:15:50,840 I believe, is special for life. 290 00:15:50,920 --> 00:15:53,160 I have been there when I had Rs. 10 lakhs in the bank. 291 00:15:55,720 --> 00:15:59,480 I offer you Rs. 1 crore for 8% equity 292 00:15:59,560 --> 00:16:01,120 at a valuation of Rs. 12.5 crores. 293 00:16:07,720 --> 00:16:10,080 More than three times that. 294 00:16:10,160 --> 00:16:12,200 - Wow! - And with the assumption 295 00:16:12,280 --> 00:16:16,280 that you won't burn this money as you did from the previous rounds. 296 00:16:17,320 --> 00:16:18,440 You'll grow it profitably 297 00:16:18,480 --> 00:16:20,640 and deploy it only towards working capital. 298 00:16:20,840 --> 00:16:23,520 [intense music playing] 299 00:16:23,720 --> 00:16:25,160 And you'll generate profits. 300 00:16:25,240 --> 00:16:26,240 Congratulations. 301 00:16:26,240 --> 00:16:27,840 - You have an offer. That's amazing. - Thank you. 302 00:16:27,920 --> 00:16:29,320 And this is my final offer. 303 00:16:29,880 --> 00:16:33,080 [intense music playing] 304 00:16:35,080 --> 00:16:37,200 Okay, Vineeta. You have a deal. 305 00:16:44,280 --> 00:16:45,320 [camera shutter clicks] 306 00:16:45,840 --> 00:16:48,280 [euphoric music playing] 307 00:16:49,400 --> 00:16:50,920 Vineeta, aren't you crying? 308 00:16:51,840 --> 00:16:53,440 - No! - Don't lie. 309 00:16:53,600 --> 00:16:55,840 I saw you shed a tear. 310 00:16:57,040 --> 00:16:59,320 Good. It was a heart-touching 311 00:16:59,320 --> 00:17:00,560 - and emotional deal. - Heart touching. 312 00:17:00,600 --> 00:17:01,600 Good... 313 00:17:02,160 --> 00:17:03,000 Thank you. 314 00:17:03,080 --> 00:17:06,840 Jasmine and Chetan remind me of myself. 315 00:17:06,960 --> 00:17:09,160 When we had a few lakhs left, 316 00:17:09,280 --> 00:17:11,760 someone lent Rs. 1 crore to us. 317 00:17:11,880 --> 00:17:14,440 We used that Rs. 1 crore 318 00:17:14,520 --> 00:17:17,800 to revive the business from rock bottom. 319 00:17:17,880 --> 00:17:19,840 And we never let them down. 320 00:17:19,920 --> 00:17:23,520 I have implicit faith in Jasmine and Chetan. 321 00:17:23,600 --> 00:17:27,760 I know they'll make a Rs. 100 crores business with this 1 core. 322 00:17:43,600 --> 00:17:46,440 [theme music playing] 323 00:17:53,960 --> 00:17:56,480 [theme music fading] 324 00:18:05,040 --> 00:18:06,320 - Hi, Sharks. - Hi. 325 00:18:06,440 --> 00:18:09,280 We learned to paint when we were children. 326 00:18:09,400 --> 00:18:11,120 And even those who didn't learn it, 327 00:18:11,200 --> 00:18:14,160 regardless of what they drew on the walls of their home... 328 00:18:14,280 --> 00:18:17,320 - True. - They were drawn to art and colours. 329 00:18:18,040 --> 00:18:19,640 But as we grew up, 330 00:18:19,720 --> 00:18:21,720 we forgot those artistic skills. 331 00:18:22,640 --> 00:18:26,040 But during the lockdown, we all had enough time 332 00:18:26,160 --> 00:18:28,120 to hone our skills 333 00:18:28,200 --> 00:18:31,240 and do something that truly brings us joy. 334 00:18:31,320 --> 00:18:33,840 For this reason, during the lockdown, 335 00:18:33,960 --> 00:18:36,040 many people devoted time to their hobbies 336 00:18:36,040 --> 00:18:38,160 and tried to do something new. 337 00:18:38,600 --> 00:18:41,480 And during the recent lockdown, we received inquiries 338 00:18:41,520 --> 00:18:43,240 for raw materials. 339 00:18:43,760 --> 00:18:47,000 India has very few trusted raw material suppliers. 340 00:18:47,080 --> 00:18:50,640 And only ready-to-stock products are usually sold. 341 00:18:51,400 --> 00:18:55,480 Can artists justify their art with these boring products? 342 00:18:55,560 --> 00:18:57,320 No. Just as we are different, 343 00:18:57,400 --> 00:19:00,960 so are our creativity and imagination. 344 00:19:01,360 --> 00:19:03,840 With a solution to this problem, 345 00:19:03,920 --> 00:19:05,960 we come representing Hobby India. 346 00:19:08,040 --> 00:19:10,400 Greetings, Sharks. My name is Vaibhav. 347 00:19:10,440 --> 00:19:11,360 I am Shruti. 348 00:19:15,240 --> 00:19:17,840 Hobby India is an art brand 349 00:19:17,920 --> 00:19:19,960 that offers a variety of 350 00:19:20,040 --> 00:19:23,080 art, craft and DIY products. 351 00:19:23,240 --> 00:19:27,360 If artists need a new product as per their needs, 352 00:19:27,440 --> 00:19:29,840 we even offer the option of customization. 353 00:19:31,080 --> 00:19:33,440 We have over 5000 products 354 00:19:33,520 --> 00:19:35,960 with over 15,000 variants. 355 00:19:40,720 --> 00:19:42,080 In the last 18 months, 356 00:19:42,120 --> 00:19:46,600 we have delivered over 22,000 orders to more than 12,000 customers. 357 00:19:46,600 --> 00:19:47,480 Wow! 358 00:19:53,480 --> 00:19:55,160 and reaching every artist out there. 359 00:19:55,240 --> 00:19:56,360 Our ask is 360 00:19:56,440 --> 00:19:59,400 Rs. 50 lakhs for 3% equity in our company. 361 00:20:13,280 --> 00:20:16,640 This combination is rare of a husband, wife and sister. 362 00:20:16,760 --> 00:20:18,920 Why did all three of you think of coming together? 363 00:20:19,080 --> 00:20:20,480 When I lost my job, 364 00:20:20,600 --> 00:20:24,240 I used to handle accounts in his previous company. 365 00:20:24,320 --> 00:20:25,240 Okay. 366 00:20:42,160 --> 00:20:43,760 Look how it all worked out. 367 00:20:43,800 --> 00:20:45,560 You guys are unbelievable! 368 00:20:46,920 --> 00:20:51,040 Tell me something. What are your 5000 products? 369 00:20:51,120 --> 00:20:53,600 We make one product 370 00:20:53,640 --> 00:20:57,320 and offer 100 to 300 designs in it. 371 00:20:57,400 --> 00:21:00,360 We give options for three to four raw materials. 372 00:21:00,440 --> 00:21:02,800 We also provide around 10 size options to choose from. 373 00:21:03,120 --> 00:21:05,000 A kids' name board for instance. 374 00:21:05,160 --> 00:21:07,600 You see plain as well as painted ones here. 375 00:21:07,680 --> 00:21:09,600 We supply plain ones as well as painted ones. 376 00:21:09,600 --> 00:21:11,040 We also have artists working for us. 377 00:21:11,120 --> 00:21:14,160 - But everything is in the DIY format. - Yes. 378 00:21:14,200 --> 00:21:16,160 - So, you provide a kit. - Yes. 379 00:21:16,240 --> 00:21:17,680 And your customers make it themselves. 380 00:21:17,800 --> 00:21:19,600 So, you don't sell ready-made products. 381 00:21:19,680 --> 00:21:22,240 We do. We have two collections. 382 00:21:22,360 --> 00:21:23,680 - You have ready-made products! - Yes. 383 00:21:23,760 --> 00:21:26,360 If you've brought us a bribe, do bring it here. 384 00:21:26,520 --> 00:21:29,240 [euphoric music playing] 385 00:21:38,240 --> 00:21:39,720 This has to be painted. 386 00:21:39,840 --> 00:21:40,760 - Yes. - Yes. 387 00:21:40,800 --> 00:21:44,520 This is made from the log of a tree. Wow. 388 00:21:44,640 --> 00:21:46,840 How much do you sell this for? 389 00:21:46,920 --> 00:21:49,000 Around Rs. 220 to 250. 390 00:21:52,880 --> 00:21:57,080 It's not like this is some unique business. 391 00:21:57,240 --> 00:21:58,200 A lot of people do it. 392 00:21:58,280 --> 00:22:03,320 No. Nobody in India offers such a range and variety. 393 00:22:03,520 --> 00:22:05,040 What are your sales? 394 00:22:05,120 --> 00:22:07,360 - Rs. 1.5 crores. - Well done. 395 00:22:08,360 --> 00:22:09,640 That was our first year. 396 00:22:09,640 --> 00:22:12,440 We started the business in March 2021. 397 00:22:12,520 --> 00:22:13,480 - Nice. - Good. 398 00:22:13,600 --> 00:22:15,960 - Rs. 1.5 crores in a year. Nice. - And last month? 399 00:22:16,040 --> 00:22:18,720 Last month's sales were Rs. 21.5 lakhs. 400 00:22:18,840 --> 00:22:20,320 - Wow! - Wow! 401 00:22:20,400 --> 00:22:21,760 All of it is online. 402 00:22:27,880 --> 00:22:30,880 ready-made products and DIY kits? 403 00:22:32,440 --> 00:22:33,440 It's Rs. 21 lakhs. 404 00:22:33,560 --> 00:22:35,720 Oh, Rs. 21.5 lakhs! So what is the split? 405 00:22:36,280 --> 00:22:38,320 The ready products of home décor 406 00:22:38,440 --> 00:22:40,720 contribute to 15% of the sales. 407 00:22:40,800 --> 00:22:42,040 You mean the ready-made products. 408 00:22:42,120 --> 00:22:44,400 - Yes. - So the majority of sales are of DIY kits. 409 00:22:44,480 --> 00:22:45,920 Yes, DIY. 410 00:22:47,920 --> 00:22:51,160 90% of our customers are women. 411 00:22:51,240 --> 00:22:54,360 Around 35% of the sales are from South India. 412 00:22:54,480 --> 00:22:56,080 15% of our sales are from Mumbai, 413 00:22:56,160 --> 00:22:57,840 around 15% are from Delhi 414 00:22:58,000 --> 00:22:59,160 and the remaining sales are from other states. 415 00:22:59,240 --> 00:23:01,880 Are mothers buying for their children? Or how is it? 416 00:23:03,800 --> 00:23:07,280 who buy these products and paint them 417 00:23:07,400 --> 00:23:10,120 - for resale. - I got your point. 418 00:23:10,400 --> 00:23:12,440 What items do the ladies in the Southern market 419 00:23:12,560 --> 00:23:16,080 mostly order? 420 00:23:16,160 --> 00:23:17,880 And how do you make it to send it to them? 421 00:23:19,040 --> 00:23:21,640 For example, the Pre Mark you are holding. 422 00:23:21,760 --> 00:23:25,160 Yes. Its base and ring are ready with us. 423 00:23:25,240 --> 00:23:26,920 but the design carved in it 424 00:23:27,000 --> 00:23:29,960 is selected from more than 200 designs available with us. 425 00:23:30,040 --> 00:23:32,720 We design them only after we get an order. 426 00:23:32,840 --> 00:23:34,280 It's not readily available. 427 00:23:35,200 --> 00:23:37,960 The base has thickness variations too. 428 00:23:38,040 --> 00:23:39,920 They could be 6 mm, 8 mm or 12 mm thick. 429 00:23:40,040 --> 00:23:43,240 There are size variations from 6 inches to 24 inches. 430 00:23:43,320 --> 00:23:44,640 We have a plethora of designs. 431 00:23:44,760 --> 00:23:45,960 After we get orders, 432 00:23:46,080 --> 00:23:49,880 we divide the orders into slots of 15. 433 00:23:49,960 --> 00:23:51,280 Then the product gets ready, 434 00:23:51,360 --> 00:23:55,600 we pack those items and then they are dispatched. 435 00:23:56,520 --> 00:23:59,000 I'm quite surprised 436 00:23:59,080 --> 00:24:00,960 to hear about the procedure. 437 00:24:01,160 --> 00:24:03,600 You said that you manufacture in batches of 15. 438 00:24:03,680 --> 00:24:05,360 So you have set the SOPs 439 00:24:05,440 --> 00:24:07,800 to customise the products and ship them at the earliest. 440 00:24:07,880 --> 00:24:09,160 Who set these SOPs? 441 00:24:16,320 --> 00:24:18,280 Wonderful! How many people work there? 442 00:24:18,360 --> 00:24:21,200 We have 28 employees and all of them are females. 443 00:24:21,280 --> 00:24:22,320 Why so? 444 00:24:28,360 --> 00:24:30,320 - Great! - Good job! 445 00:24:30,760 --> 00:24:32,120 Are you the only male there? 446 00:24:32,240 --> 00:24:34,560 - Yes! I'm the only one. We have a group photo too! - Bravo! 447 00:24:38,040 --> 00:24:39,600 That's good. You are like Lord Krishna Kanhaiya. 448 00:24:41,280 --> 00:24:43,400 There are fewer people here as it's an old photo. 449 00:24:43,480 --> 00:24:45,280 Awesome! [laughing] 450 00:24:48,240 --> 00:24:50,880 Please explain the unit economics and how you manage 451 00:24:50,960 --> 00:24:53,400 to get orders and traffic on your website. 452 00:24:53,480 --> 00:24:55,920 Most of our traffic is through Google. 453 00:24:56,000 --> 00:24:58,040 We have been using SEO for one year. 454 00:24:58,120 --> 00:24:59,920 Typically, what do people search for? 455 00:25:00,040 --> 00:25:02,160 What search terms direct them to your website? 456 00:25:02,280 --> 00:25:05,920 For example, if you write DIY products, our website will be shown. 457 00:25:06,000 --> 00:25:08,480 If you write custom name cut-outs, 458 00:25:08,560 --> 00:25:10,760 we'll be visible at the first rank in the Google search. 459 00:25:10,880 --> 00:25:12,800 We have been trying for some keywords since last year. 460 00:25:12,880 --> 00:25:15,800 While we have achieved first to fifth ranks for some keywords, 461 00:25:15,880 --> 00:25:17,440 we need to get ranks for the remaining keywords. 462 00:25:17,560 --> 00:25:19,440 - Who looks after that? - Who takes care of SEO? 463 00:25:19,520 --> 00:25:21,120 - I take care of it. - Amazing! 464 00:25:29,120 --> 00:25:30,640 two content writers and one graphic designer. 465 00:25:30,760 --> 00:25:34,240 How come you thought of forming a team for SEO in Surat? 466 00:25:34,320 --> 00:25:38,400 I have observed that companies in Mumbai and Bengaluru don't have 467 00:25:38,480 --> 00:25:40,000 an in-house SEO team until their business grows enough. 468 00:25:40,080 --> 00:25:43,000 Actually, my travelling budget 469 00:25:43,080 --> 00:25:46,280 - is equivalent to my learning budget. I go to seminars. - Awesome! 470 00:25:46,360 --> 00:25:47,200 Wow! 471 00:25:47,280 --> 00:25:48,840 I read books. 472 00:25:48,920 --> 00:25:51,240 Your answers have floored us. 473 00:25:51,880 --> 00:25:55,440 The learning budget is equivalent to the travelling budget! 474 00:25:55,520 --> 00:25:57,520 It's more than travelling, actually. 475 00:25:58,080 --> 00:26:00,000 I read in a book 476 00:26:00,080 --> 00:26:03,120 that we save a budget for recreational activities. 477 00:26:03,200 --> 00:26:06,560 During your thirties, you must have a budget 478 00:26:06,640 --> 00:26:10,280 - for learning too. - Amazing! Gosh! 479 00:26:10,360 --> 00:26:12,200 I want to say this... 480 00:26:12,320 --> 00:26:15,280 You may use the recreational budget during your retirement for parties. 481 00:26:15,400 --> 00:26:19,040 I will give this example to 10,000 kids at least. 482 00:26:19,120 --> 00:26:23,400 Please give me a pen to note down. I'll use it in my future dialogues. 483 00:26:24,800 --> 00:26:26,200 [laughing] 484 00:26:26,320 --> 00:26:27,880 Let me rephrase the pitch. 485 00:26:28,960 --> 00:26:31,880 I want to make a pitch. Will you join my company... 486 00:26:32,840 --> 00:26:33,720 Will you invest? [laughing] 487 00:26:33,800 --> 00:26:35,240 - Will you invest some money and join us? - Please be our employee. 488 00:26:36,640 --> 00:26:40,040 - You have to give us money. - We'll get money and tips too. 489 00:26:42,520 --> 00:26:45,960 What is the market size of crafts and arts? The market of enthusiasts. 490 00:26:46,040 --> 00:26:47,040 Do you have an idea? 491 00:26:58,440 --> 00:27:00,080 It's just 5% of the total market. 492 00:27:00,160 --> 00:27:03,640 There are 2 lakh artists. So I made an estimate 493 00:27:12,520 --> 00:27:14,920 Basically, there is no USP 494 00:27:15,000 --> 00:27:17,160 or anything different about this. 495 00:27:17,280 --> 00:27:19,760 This market is already so crowded. 496 00:27:19,840 --> 00:27:21,640 So your business doesn't make me think 497 00:27:21,760 --> 00:27:24,400 you have something unique here. 498 00:27:25,080 --> 00:27:27,400 But I don't think this is investible 499 00:27:27,560 --> 00:27:30,400 where an investor will get a certain return. 500 00:27:30,520 --> 00:27:32,320 And for that reason, I'm out. 501 00:27:32,480 --> 00:27:35,840 Sorry to interrupt, but you didn't ask us about our profit. 502 00:27:35,920 --> 00:27:37,240 - Getting there. - [Sharks laugh] 503 00:27:37,320 --> 00:27:39,120 [hysterical laughter] 504 00:27:39,720 --> 00:27:43,480 You just said, "One Gujarati to another." 505 00:27:43,560 --> 00:27:45,640 - Yes. - Let's talk business! 506 00:27:47,160 --> 00:27:49,280 Our average order value 507 00:27:49,400 --> 00:27:51,880 has been Rs. 1280 this year. 508 00:27:51,960 --> 00:27:54,760 Out of it, the product cost is Rs. 410. 509 00:27:55,160 --> 00:27:58,040 We offer free shipping for orders worth Rs. 1200 and above. 510 00:27:58,120 --> 00:28:01,120 - The shipping costs Rs. 160 per order. - Okay. 511 00:28:01,200 --> 00:28:03,600 - Alright. - Then the processing, 512 00:28:03,680 --> 00:28:06,360 that is factory expenses, salaries and all, 513 00:28:17,200 --> 00:28:18,560 With marketing, 514 00:28:25,400 --> 00:28:27,120 - Every month? - Yes, every month. 515 00:28:27,200 --> 00:28:31,080 - What! - Last month, we made Rs. 21.5 lakhs. 516 00:28:31,160 --> 00:28:34,280 Of which, orders worth Rs. 11 lakhs were from repeat customers. 517 00:28:34,360 --> 00:28:37,640 - You said your customer acquisition cost is Rs. 180. - Yes. 518 00:28:37,720 --> 00:28:39,160 That's inclusive of the repeat customers? 519 00:28:39,240 --> 00:28:40,640 Or is it Rs. 360 with new orders? 520 00:28:40,720 --> 00:28:42,240 Only new customers. 521 00:28:42,400 --> 00:28:45,200 - So, add Rs. 90 for every repeat customer. - That's Rs. 90. 522 00:28:45,280 --> 00:28:46,200 You left the half. 523 00:28:48,960 --> 00:28:49,920 Yes, Rs. 400. 524 00:28:51,080 --> 00:28:52,680 How much do you save out of the Rs. 21 lakhs? 525 00:28:52,760 --> 00:28:53,800 Rs. 6.5 lakhs. 526 00:28:53,880 --> 00:28:56,760 Can I say something? The way you answer 527 00:28:56,840 --> 00:28:59,040 and clearly explain your unit economics 528 00:28:59,160 --> 00:29:01,360 is rare among the founders who come here. 529 00:29:01,480 --> 00:29:03,480 They usually get confounded. Well done! 530 00:29:03,520 --> 00:29:05,600 - Yes, very well done. - Thank you. 531 00:29:05,680 --> 00:29:08,560 - Are you really 26? - Yes. [chuckles] 532 00:29:08,760 --> 00:29:12,120 Looking at you, I'd call you a seasoned businessman. Seriously. 533 00:29:12,200 --> 00:29:13,320 [laughs] 534 00:29:14,320 --> 00:29:16,400 So, how much business are you expecting this year? 535 00:29:16,480 --> 00:29:21,080 Until 20th September, our sales have been Rs. 1.17 crores. 536 00:29:34,720 --> 00:29:36,760 We want to scale up the factory. 537 00:29:36,880 --> 00:29:41,440 Right now, our capacity is to process 80 orders per day. 538 00:29:42,400 --> 00:29:45,120 - This month, per day... - Then take a loan. 539 00:29:45,200 --> 00:29:46,880 - You have profits to show. - Yes. 540 00:29:46,960 --> 00:29:49,720 I agree with Aman. Raise funds. Why look for an investor? 541 00:29:49,800 --> 00:29:52,120 We need your support for branding. 542 00:29:52,200 --> 00:29:55,720 We could always take a loan or even get loans from family. 543 00:29:55,800 --> 00:30:00,160 But we're looking for funds along with a learning experience. 544 00:30:00,240 --> 00:30:02,160 And you get some marketing too. 545 00:30:02,240 --> 00:30:05,520 - We'll handle the marketing. - [unanimous laughter] 546 00:30:05,600 --> 00:30:07,680 [Sharks laugh] 547 00:30:07,800 --> 00:30:09,840 I really like your answers. 548 00:30:09,920 --> 00:30:11,240 [laughs] 549 00:30:18,280 --> 00:30:20,480 When she breaks into Gujarati, expect an offer. 550 00:30:20,560 --> 00:30:22,640 - Yes. - [Sharks laugh] 551 00:30:23,960 --> 00:30:25,880 You're an excellent founder. 552 00:30:25,960 --> 00:30:29,000 My offer is Rs. 50 lakhs for 20% equity. 553 00:30:29,080 --> 00:30:30,080 - Okay. - Okay. 554 00:30:30,160 --> 00:30:32,400 Your valuation will be Rs. 2.5 crores. 555 00:30:32,480 --> 00:30:36,560 That's 2x your last year's sales of Rs. 1 crore. 556 00:30:42,440 --> 00:30:45,760 and explaining everything so well at such a young age. 557 00:30:45,840 --> 00:30:49,160 I don't understand the market size, though. It's going to be small. 558 00:30:49,840 --> 00:30:52,080 But your spirit of entrepreneurship 559 00:30:52,160 --> 00:30:54,080 is why I like you guys so much. 560 00:30:54,160 --> 00:30:57,280 - I started my company in Jaipur and built it on SEO. - Yes. 561 00:30:57,360 --> 00:31:00,120 CarDekho is the first website that shows up when you look up cars. 562 00:31:00,200 --> 00:31:02,760 You're doing well. Market size is an issue. 563 00:31:02,840 --> 00:31:04,040 But it doesn't matter to me. 564 00:31:04,040 --> 00:31:06,200 It's clear to me that whatever the size, 565 00:31:06,200 --> 00:31:07,720 this is a profitable business. 566 00:31:07,800 --> 00:31:09,120 Now don't copy my offer. 567 00:31:09,200 --> 00:31:10,560 [Amit laughs] 568 00:31:11,720 --> 00:31:13,520 Overall, my offer to you... 569 00:31:13,600 --> 00:31:16,720 If you're okay with it, Vineeta, I'd like to be a part of your offer. 570 00:31:16,800 --> 00:31:19,480 - If you're okay with 50-50. - Alright, we'll partner up. 571 00:31:19,600 --> 00:31:21,480 - Both of us for the same offer. - Okay. 572 00:31:21,560 --> 00:31:24,880 - Vineeta's offer is Rs. 50 lakhs for 20%. - Rs. 50 lakhs. 573 00:31:24,960 --> 00:31:26,560 10% each. We'll split it. 574 00:31:30,480 --> 00:31:32,840 - I am going to be out. - [tense music playing] 575 00:31:32,960 --> 00:31:35,960 I'd like for Vineeta to win this deal. 576 00:31:36,240 --> 00:31:38,440 For that reason, I'm out. 577 00:31:38,520 --> 00:31:40,240 [Sharks laugh] 578 00:31:42,240 --> 00:31:44,880 It was great meeting you. I know I learnt a lot. 579 00:31:44,960 --> 00:31:48,080 But since I cannot assess the market size... 580 00:31:48,160 --> 00:31:49,760 You will crack it. Come on board. 581 00:31:49,840 --> 00:31:51,880 - [Vineeta laughs] - No, surely. 582 00:31:51,960 --> 00:31:55,600 Also, I think you got a fair offer with two Sharks. 583 00:31:57,520 --> 00:31:59,400 You can make something big together. 584 00:31:59,480 --> 00:32:01,240 And it would make me really happy. 585 00:32:01,400 --> 00:32:02,680 But I'm out. 586 00:32:03,520 --> 00:32:05,000 So decide what you want. 587 00:32:05,080 --> 00:32:08,360 You may take a few minutes to think and make a counteroffer. 588 00:32:08,480 --> 00:32:11,440 [intense music playing] 589 00:32:20,640 --> 00:32:22,600 No, he's not oversmart. He's amazing. 590 00:32:22,680 --> 00:32:25,360 Thought clarity, to the point, transparent, honest... 591 00:32:25,440 --> 00:32:27,880 - Transparent. - Grounded, humble, smart. 592 00:32:28,120 --> 00:32:29,760 [intense music playing] 593 00:32:30,040 --> 00:32:31,920 Alright, welcome back. 594 00:32:32,040 --> 00:32:33,920 [intense music playing] 595 00:32:34,200 --> 00:32:35,360 What's your decision? 596 00:32:35,440 --> 00:32:38,080 Our counteroffer is Rs. 50 lakhs for 4% equity. 597 00:32:42,200 --> 00:32:44,680 You know, I studied in Chennai for 4 years. 598 00:32:44,760 --> 00:32:47,320 The autorickshaw drivers there negotiate like this. 599 00:32:47,400 --> 00:32:49,960 When I quoted Rs. 20 from A to B, 600 00:32:50,040 --> 00:32:51,760 - they countered, "Rs. 500!" - [Aman laughs] 601 00:32:51,840 --> 00:32:56,040 How's this going to work out? This is pitiful. 602 00:32:57,560 --> 00:33:01,800 But I feel if you think it should be 4%, 603 00:33:01,880 --> 00:33:04,320 it's fair negotiation on their part. 604 00:33:04,560 --> 00:33:05,440 Yes. 605 00:33:06,040 --> 00:33:08,760 I'll make a final offer. Take it or leave it. 606 00:33:08,840 --> 00:33:10,280 Rs. 50 lakhs for 15%. 607 00:33:11,120 --> 00:33:12,400 Amit and I will come on board 608 00:33:17,320 --> 00:33:18,360 Why not? 609 00:33:18,440 --> 00:33:21,640 As per the valuation, we will make more revenue 610 00:33:21,720 --> 00:33:23,720 within one or two years. 611 00:33:24,640 --> 00:33:27,080 So, we cannot accept this offer. 612 00:33:27,160 --> 00:33:28,400 So, you reject these two? 613 00:33:28,480 --> 00:33:30,920 - Yes... - No, just their offer. 614 00:33:31,000 --> 00:33:33,040 - Sure, no problem. - It's alright. 615 00:33:33,120 --> 00:33:36,680 I don't mind this rejection. You're doing well, and keep it up. 616 00:33:36,760 --> 00:33:39,480 - Thank you. - All the very best from our side. 617 00:33:39,720 --> 00:33:41,040 You're the new face of India. 618 00:33:41,120 --> 00:33:41,960 - Thank you. - Thank you. 619 00:33:42,000 --> 00:33:43,240 - Thank you. - Best of luck, guys! 620 00:33:43,320 --> 00:33:44,800 Thank you so much. Bye. 621 00:33:46,360 --> 00:33:47,960 SOP and SEO! 622 00:33:48,120 --> 00:33:51,400 - Two were doing in-house SEO. - Both, SOP and SEO. 623 00:33:51,480 --> 00:33:53,720 - A fantastic founder. - Amazing founder! 624 00:33:53,760 --> 00:33:56,720 I think I should spend some time in Gujarat. 625 00:33:56,800 --> 00:33:58,040 What business sense! 626 00:33:58,120 --> 00:34:01,520 - The air alone will change you. - I think so too. Seriously. 627 00:34:01,600 --> 00:34:05,400 Their business ideas and ideologies are fantastic. 628 00:34:05,480 --> 00:34:07,200 Such good sense. They know everything. 629 00:34:07,280 --> 00:34:09,520 And I'm going to use that line on my employees. 630 00:34:09,600 --> 00:34:10,920 - Yes... - That one... 631 00:34:11,000 --> 00:34:13,880 What's your travelling budget versus your learning budget? 632 00:34:15,040 --> 00:34:17,480 [theme music playing] 633 00:34:24,880 --> 00:34:27,720 [theme music continues] 634 00:34:35,360 --> 00:34:37,920 [theme music fades] 635 00:34:40,600 --> 00:34:43,720 - In this day and age, you can get anything easily... - Hmm. 636 00:34:43,800 --> 00:34:45,320 Except for space. 637 00:34:45,640 --> 00:34:47,200 Whether it's relationships or your home... 638 00:34:47,280 --> 00:34:49,440 - [chortles] - There is a lack of space everywhere. 639 00:34:50,280 --> 00:34:52,040 There's so much struggle for space 640 00:34:52,120 --> 00:34:54,840 - that we have to optimise space everywhere. - Hmm. 641 00:34:54,960 --> 00:34:58,440 And we have found a solution to this space problem, 642 00:34:58,720 --> 00:35:00,400 and let us show you how. 643 00:35:02,080 --> 00:35:05,680 I'd like to invite three Sharks here. 644 00:35:05,760 --> 00:35:08,440 Vineeta, Aman and Namita. 645 00:35:08,640 --> 00:35:10,040 Alright, let's go. 646 00:35:12,080 --> 00:35:13,720 - You have to sit on it. - On this? 647 00:35:13,800 --> 00:35:14,600 Yes. 648 00:35:15,320 --> 00:35:16,880 - I hope you're comfortable. - You're comfortable? 649 00:35:16,960 --> 00:35:18,400 - Yes. - Can you just... 650 00:35:18,480 --> 00:35:19,760 Get up? I'll get up. 651 00:35:21,320 --> 00:35:24,400 - Oh! - How nice! 652 00:35:24,480 --> 00:35:26,520 - Wow! - Now three of us can sit. 653 00:35:26,600 --> 00:35:27,520 - Yes. - Please come and sit. 654 00:35:27,640 --> 00:35:29,120 - Please sit. - Now we will be 655 00:35:29,200 --> 00:35:30,800 - the three idiots. - You'll fall! 656 00:35:30,880 --> 00:35:32,320 - Three musketeers! - Three idiots. 657 00:35:32,400 --> 00:35:34,560 Three idiots. No, Gandhiji's three monkeys. 658 00:35:34,640 --> 00:35:36,600 - See no evil. - Okay, done. 659 00:35:37,640 --> 00:35:40,240 This sitting is made of paper. 660 00:35:40,320 --> 00:35:42,000 That is recycled paper. 661 00:35:42,080 --> 00:35:44,120 And it can hold up to 300 kg. 662 00:35:47,280 --> 00:35:51,000 Very nice. You extended it so easily. 663 00:35:51,320 --> 00:35:52,800 That was incredible. 664 00:35:53,080 --> 00:35:55,120 [music playing] 665 00:35:56,960 --> 00:36:00,360 - You all must have seen a beehive. - Yes. 666 00:36:00,560 --> 00:36:03,400 The hive holds all of the honey. 667 00:36:03,520 --> 00:36:06,840 - How does it hold up so easily against gravity? - Hmm. 668 00:36:06,920 --> 00:36:08,880 Because the structure of the honeycomb 669 00:36:08,960 --> 00:36:11,880 - is made up of numerous hexagonal cells. - Right. 670 00:36:18,200 --> 00:36:20,480 [uplifting music playing] 671 00:36:22,920 --> 00:36:24,600 My name is Shilpi Dua, 672 00:36:24,680 --> 00:36:27,320 and I'm an architect and a product designer. 673 00:36:32,640 --> 00:36:33,800 Flhexible is a sustainable 674 00:36:41,680 --> 00:36:45,560 wall partitions and many kinds of pet and desk products. 675 00:36:45,640 --> 00:36:47,120 [uplifting music playing] 676 00:36:47,200 --> 00:36:51,640 And water is not at all used in the process of the production. 677 00:36:51,720 --> 00:36:55,320 And you can use them for 10-12 years without worries. 678 00:36:55,600 --> 00:36:58,160 - Wow! - You can buy them online from our website, 679 00:36:58,240 --> 00:37:00,840 or on Amazon. 680 00:37:07,520 --> 00:37:11,680 And ever since, we have sold more than 250 products. 681 00:37:14,600 --> 00:37:18,080 this country's biggest space-saver furniture and product brand. 682 00:37:19,400 --> 00:37:23,720 Our ask is Rs. 50 lakhs against 7.5% equity. 683 00:37:31,240 --> 00:37:32,920 Thank you, Shilpi and Abhimanyu. 684 00:37:33,000 --> 00:37:35,280 - Welcome to Shark Tank India Season 2. - Thank you. 685 00:37:35,400 --> 00:37:36,880 How do you know each other? 686 00:37:36,960 --> 00:37:38,360 - We're husband and wife. - Yes. 687 00:37:38,440 --> 00:37:42,200 And we met in 2003 when doing our graduation. 688 00:37:42,440 --> 00:37:46,280 - We spent 10 years together and we got married in 2013. - Wow! 689 00:37:46,480 --> 00:37:48,280 - You've been together for 20 years. - Yes. 690 00:37:48,360 --> 00:37:49,960 - And you're working together? - Yes. 691 00:37:50,080 --> 00:37:52,080 - How does it feel? - And you have the same career? 692 00:37:52,240 --> 00:37:53,800 - Yes. - What's honeycomb? 693 00:37:53,880 --> 00:37:55,480 - Tell us about the pattern. - Okay. 694 00:37:55,560 --> 00:37:57,520 This is a technology 695 00:37:57,600 --> 00:37:59,920 where alternate layers of paper are glued together. 696 00:38:00,000 --> 00:38:03,400 - Yes. - When you open it, they form a hexagonal geometry. 697 00:38:03,480 --> 00:38:06,000 These hexagons are made of equilateral hexagons. 698 00:38:06,200 --> 00:38:08,280 One hexagon has six triangles. 699 00:38:24,440 --> 00:38:27,560 Ikea has been using it for so many years. 700 00:38:27,640 --> 00:38:30,720 We used the same technology to start our company. 701 00:38:32,200 --> 00:38:34,800 [uplifting music playing] 702 00:38:34,920 --> 00:38:36,200 What's its price? 703 00:38:36,280 --> 00:38:37,720 It's Rs. 7500. 704 00:38:37,960 --> 00:38:40,000 Rs. 7500! That's too much. 705 00:38:40,120 --> 00:38:42,320 - Too high. - [tense music] 706 00:38:42,480 --> 00:38:44,560 How do we do its strength test? 707 00:38:44,640 --> 00:38:47,200 To what extent can we stretch it? 708 00:38:47,400 --> 00:38:50,800 For example, if I take a block of honeycomb 709 00:38:50,880 --> 00:38:53,520 which is half an inch thick and one by one foot in dimension, 710 00:38:53,680 --> 00:38:58,080 that piece can endure a load of one tonne. 711 00:38:58,160 --> 00:39:00,080 - Wow! So much! - Compressive strength. 712 00:39:00,200 --> 00:39:02,760 With the increase in the size of the cell, 713 00:39:03,120 --> 00:39:05,960 the strength will lessen and its weight will also lessen. 714 00:39:06,040 --> 00:39:09,480 We used this technique to make house walls 715 00:39:09,640 --> 00:39:13,160 and then we used the same technique to make furniture too. 716 00:39:14,480 --> 00:39:16,320 You talked about IKEA. 717 00:39:16,560 --> 00:39:19,960 They make the packaging material with hexagonal-shaped material 718 00:39:20,120 --> 00:39:22,240 - instead of polystyrene. Is it true? - It's 100% true. 719 00:39:22,400 --> 00:39:23,680 Let me make it clear. 720 00:39:23,680 --> 00:39:26,000 IKEA doesn't just use it for packaging, 721 00:39:26,240 --> 00:39:28,240 they use it for their furniture too. 722 00:39:28,600 --> 00:39:31,360 They won't disclose it. They'd say, "it's a composite material." 723 00:39:31,760 --> 00:39:34,000 They'd never say, "the table is lightweight 724 00:39:34,080 --> 00:39:35,120 as it's stuffed with honeycomb." 725 00:39:35,200 --> 00:39:36,720 - It's stuffed with honeycomb. - Yes! 726 00:39:36,800 --> 00:39:38,400 That's an interesting point. 727 00:39:38,600 --> 00:39:40,200 I also believe the same. 728 00:39:40,480 --> 00:39:42,960 As far as furniture are concerned, 729 00:39:43,400 --> 00:39:44,720 it's a gimmicky business. 730 00:39:44,880 --> 00:39:46,680 [dramatic music] 731 00:39:47,080 --> 00:39:48,520 Let me tell you the reason. 732 00:39:48,560 --> 00:39:51,320 It's a nice item to be given as a gift. 733 00:39:51,560 --> 00:39:53,880 We can buy a few items for household needs 734 00:39:54,120 --> 00:39:56,720 but it can't be made a lifestyle. 735 00:39:58,840 --> 00:40:00,720 Let me list a few things. 736 00:40:00,800 --> 00:40:03,120 Firstly, it isn't pet-proof. 737 00:40:03,360 --> 00:40:04,840 If you have a pet cat at home 738 00:40:04,920 --> 00:40:07,480 and it claws at it, 739 00:40:07,560 --> 00:40:09,480 - the furniture would fray at the corners. - Yes. 740 00:40:09,720 --> 00:40:11,800 Secondly, dust-friendly! 741 00:40:12,040 --> 00:40:15,080 Dust will collect at the sides. 742 00:40:15,080 --> 00:40:17,160 And that's the reason 743 00:40:17,680 --> 00:40:19,920 IKEA uses them 744 00:40:20,200 --> 00:40:22,200 as an internal reinforcement 745 00:40:22,280 --> 00:40:24,080 instead of using them to make the body of the furniture. 746 00:40:24,160 --> 00:40:26,520 I feel that it isn't enough 747 00:40:26,800 --> 00:40:29,240 to build a business. I'm being frank with you. 748 00:40:29,520 --> 00:40:31,160 [sweeping music] 749 00:40:32,000 --> 00:40:33,640 - Is it kids-proof? - Yes, of course! 750 00:40:33,720 --> 00:40:36,080 - Of course. - Until we soak it in water 751 00:40:36,160 --> 00:40:38,080 or cut it with a cutter intentionally, 752 00:40:38,200 --> 00:40:39,800 it would be fine. 753 00:40:40,000 --> 00:40:42,000 Nowadays, kids roam around the house with a pair of scissors. 754 00:40:42,120 --> 00:40:44,640 - It can be damaged intentionally. - Kids are difficult to control. 755 00:40:46,120 --> 00:40:47,880 You are projecting this product 756 00:40:47,960 --> 00:40:50,400 as furniture to save space. 757 00:40:59,200 --> 00:41:02,160 You're right in saying that its price is high. 758 00:41:02,240 --> 00:41:04,760 It's because our backup is small 759 00:41:05,120 --> 00:41:06,880 so our margin is less and the cost is high. 760 00:41:06,960 --> 00:41:09,160 If I make 5,000 pieces of the same product, 761 00:41:09,320 --> 00:41:11,080 my cost will reduce by 30%. 762 00:41:11,280 --> 00:41:14,320 In that case, it'll be affordable for the masses. 763 00:41:21,000 --> 00:41:23,120 Can you tell me how many products you have sold till now? 764 00:41:23,280 --> 00:41:25,400 It'll make it clear if your product sells or not. 765 00:41:25,480 --> 00:41:27,920 I already told you that we have sold more than 250 products. 766 00:41:28,160 --> 00:41:30,600 Our last year's revenue was Rs. 16 lakhs. 767 00:41:30,880 --> 00:41:32,160 [sweeping music] 768 00:41:32,360 --> 00:41:34,160 - What about the last month? - Rs. 3.5 lakhs. 769 00:41:34,360 --> 00:41:36,440 How much was corporate gifting out of Rs. 3.5 lakhs? 770 00:41:36,520 --> 00:41:37,320 60%! 771 00:41:37,440 --> 00:41:38,240 There you go. 772 00:41:38,400 --> 00:41:40,080 Alright. Your business is non-existent. 773 00:41:40,360 --> 00:41:41,800 [dramatic music] 774 00:41:42,160 --> 00:41:44,840 - Are the walls included in Rs. 3.5 lakhs? - No! 775 00:41:45,040 --> 00:41:46,280 What's the revenue for walls? 776 00:41:46,440 --> 00:41:48,760 The revenue for walls is Rs. 32 lakhs. 777 00:41:48,960 --> 00:41:50,640 It is Rs. 32 lakhs. Why aren't you sharing a consolidated figure? 778 00:41:50,720 --> 00:41:52,240 Why are you reducing your company's size? 779 00:41:52,400 --> 00:41:54,560 It's different. We are pitching only for the flexible segment. 780 00:41:54,640 --> 00:41:55,920 It's part of the B2B segment. 781 00:41:56,000 --> 00:41:58,400 So you earn profit from the other business 782 00:41:58,720 --> 00:42:01,200 and you came here to ask the Sharks for investment. 783 00:42:01,280 --> 00:42:03,520 Actually, our parent company is Hexpressions. 784 00:42:03,640 --> 00:42:05,240 - They make walls. - Hexpressions Megatech Pvt Ltd. 785 00:42:05,320 --> 00:42:06,400 They make only walls. 786 00:42:06,560 --> 00:42:08,440 So, you need investments for which level? 787 00:42:08,600 --> 00:42:10,200 For parent level 788 00:42:10,400 --> 00:42:12,360 or for this company's work? 789 00:42:12,440 --> 00:42:13,280 Flhexible. 790 00:42:13,400 --> 00:42:14,440 It manufactures furniture. 791 00:42:14,520 --> 00:42:16,920 You could have combined them as they are small businesses. 792 00:42:17,160 --> 00:42:19,360 And none of the Sharks will allow it. 793 00:42:19,760 --> 00:42:20,960 Do you earn a profit? 794 00:42:21,080 --> 00:42:23,520 Our gross margin is 40% right now. 795 00:42:23,760 --> 00:42:25,000 How much money do you save? 796 00:42:25,240 --> 00:42:26,760 - Last month... - 25%. 797 00:42:26,840 --> 00:42:28,440 - How much did you save? - 25%! 798 00:42:30,720 --> 00:42:31,520 Alright. 799 00:42:31,600 --> 00:42:32,880 I have made my decision. 800 00:42:33,200 --> 00:42:34,160 [suspenseful music] 801 00:42:34,400 --> 00:42:36,000 I think it's a gimmicky product. 802 00:42:36,080 --> 00:42:37,600 Your sales figures also hint 803 00:42:37,680 --> 00:42:38,760 that it's a gimmicky business. 804 00:42:44,160 --> 00:42:46,040 For those two reasons, I'm out. 805 00:42:46,200 --> 00:42:47,720 [suspenseful music] 806 00:42:48,560 --> 00:42:50,160 I made my decision too. 807 00:42:50,240 --> 00:42:53,680 I think you entered this field with good intentions. 808 00:42:53,760 --> 00:42:56,200 "We want to do something that's different 809 00:42:56,400 --> 00:42:58,200 and innovative." But 810 00:42:58,440 --> 00:43:00,120 it's an early stage business. 811 00:43:00,400 --> 00:43:02,960 Rs. 16 lakhs sales are as good as pre-revenue. 812 00:43:03,280 --> 00:43:04,520 Right? Moreover, 813 00:43:04,680 --> 00:43:07,000 there's no tried and tested model globally 814 00:43:07,080 --> 00:43:08,720 that can give confidence 815 00:43:08,840 --> 00:43:11,400 to the investor that this company can scale up. 816 00:43:12,080 --> 00:43:14,160 I don't think this model 817 00:43:14,560 --> 00:43:16,720 is scaleable in India's context. 818 00:43:16,880 --> 00:43:17,680 Okay. 819 00:43:17,760 --> 00:43:18,960 And for that reason, I'm out. 820 00:43:19,080 --> 00:43:20,040 - Okay! - Okay. 821 00:43:21,520 --> 00:43:23,360 I made my decision too. 822 00:43:23,440 --> 00:43:26,280 You two are passionate about design. 823 00:43:27,520 --> 00:43:29,440 I think your B2B business of walls 824 00:43:29,480 --> 00:43:32,000 has some scope 825 00:43:32,200 --> 00:43:33,400 because, you know, 826 00:43:33,600 --> 00:43:36,080 it isn't a gimmicky product. We can see some use cases there. 827 00:43:36,400 --> 00:43:38,720 I think you must focus on that business and make it grow. 828 00:43:38,800 --> 00:43:41,840 The fact that you're doing sales of Rs. 4 lakhs per month 829 00:43:42,000 --> 00:43:45,600 is a clear indication for an investor 830 00:43:45,680 --> 00:43:49,560 that there's not much consumer demand for your product. 831 00:43:49,880 --> 00:43:53,600 People could buy it as a novelty to show off 832 00:43:53,680 --> 00:43:56,000 but they won't buy it again. 833 00:43:57,320 --> 00:43:59,120 For that reason, I'm out. 834 00:43:59,240 --> 00:44:00,400 - Thank you! - Thank you! 835 00:44:00,480 --> 00:44:01,840 I have a few questions. 836 00:44:02,000 --> 00:44:03,560 What kind of work do you want to do? 837 00:44:03,640 --> 00:44:07,600 - Do you want to do shoddy business or become a business tycoon? - What? 838 00:44:07,680 --> 00:44:10,040 - What do you want to do? - What do you mean by shoddy? 839 00:44:10,120 --> 00:44:13,200 - A small business. - I think "shoddy" is a strong word. 840 00:44:13,280 --> 00:44:14,800 I mean an ordinary business. 841 00:44:14,880 --> 00:44:16,560 - I mean work done at a small level. - Okay. 842 00:44:16,680 --> 00:44:19,680 Earlier you used to teach us English and now you're teaching Hindi too. 843 00:44:20,000 --> 00:44:22,120 Did you understand what he said? 844 00:44:22,200 --> 00:44:23,640 I got it. I'm a Rajasthani. 845 00:44:23,720 --> 00:44:25,840 I mean a small-scale business. I hope you got my point. 846 00:44:26,320 --> 00:44:27,480 [dramatic music] 847 00:44:27,600 --> 00:44:29,200 I'm trying to understand 848 00:44:29,280 --> 00:44:31,040 what you want to do. 849 00:44:31,240 --> 00:44:34,800 Our vision is to make affordable homes for all with this technique. 850 00:44:34,880 --> 00:44:36,360 My friend, it's unaffordable. 851 00:44:37,240 --> 00:44:38,400 I made my decision. 852 00:44:39,480 --> 00:44:41,240 As far as I understand 853 00:44:41,560 --> 00:44:43,080 your business, 854 00:44:43,400 --> 00:44:44,600 you are suffering a loss. 855 00:44:46,280 --> 00:44:48,000 For this reason, I'm out. 856 00:44:49,800 --> 00:44:52,160 I don't think you should pursue this business. 857 00:44:52,280 --> 00:44:53,240 That's my view. 858 00:44:53,360 --> 00:44:55,640 Please use your talent at the right place 859 00:44:55,880 --> 00:44:57,840 because you may launch a new company with a new idea. 860 00:44:58,240 --> 00:45:00,680 I'm out for that reason but I wish you all the best. 861 00:45:01,360 --> 00:45:02,640 - Thank you so much. - Thank you! 862 00:45:02,720 --> 00:45:04,240 - Good luck, guys! You are smart people. - Thank you! 863 00:45:04,400 --> 00:45:05,760 You can do something good. 864 00:45:06,120 --> 00:45:07,240 - Thank you so much! - All the best! 865 00:45:07,320 --> 00:45:08,760 - Thank you so much, Sharks! - Bye! 866 00:45:08,960 --> 00:45:10,480 [ethereal music] 867 00:45:14,280 --> 00:45:15,880 I think this innovation is ahead of time. 868 00:45:16,080 --> 00:45:17,480 - People won't buy such expensive products. - No, it isn't! 869 00:45:17,560 --> 00:45:19,200 - Indians won't buy it. - It's an unnecessary innovation. 870 00:45:19,280 --> 00:45:20,440 It won't sell globally. 871 00:45:20,600 --> 00:45:23,720 They studied and to use their knowledge they made this product. 872 00:45:23,800 --> 00:45:25,480 - They are academic people. - It happens sometimes. 873 00:45:25,560 --> 00:45:28,520 A wonderful product is made but it's never in demand. 874 00:45:41,920 --> 00:45:43,880 [ethereal music] 875 00:45:51,560 --> 00:45:54,800 [ethereal music] 876 00:46:01,040 --> 00:46:02,280 - Hello, Sharks! - Hello! 877 00:46:02,400 --> 00:46:05,200 - I want to recite a proverb. - Please! 878 00:46:05,280 --> 00:46:06,920 "If you study well, you'll become a king 879 00:46:07,040 --> 00:46:08,640 but in case you play, you'd be spoilt." 880 00:46:08,760 --> 00:46:09,960 [laughing] 881 00:46:10,240 --> 00:46:11,760 If you study well, 882 00:46:11,840 --> 00:46:14,080 - you could become a doctor or an engineer. - Right. 883 00:46:14,320 --> 00:46:16,640 If you focus on gaming, you'd be a loser. 884 00:46:16,800 --> 00:46:18,400 I was in a similar situation 885 00:46:18,520 --> 00:46:21,840 when I tried to tell my Indian parents 886 00:46:21,880 --> 00:46:23,680 - that I want to be a gamer. - Ouch! 887 00:46:24,960 --> 00:46:27,120 My mom slapped me hard. 888 00:46:27,200 --> 00:46:29,480 [laughing] 889 00:46:29,640 --> 00:46:33,800 And my dad made a committee comprising my aunts and uncles. 890 00:46:33,920 --> 00:46:34,800 [chuckling] 891 00:46:34,960 --> 00:46:37,600 They compelled me to sign a contract stating 892 00:46:37,680 --> 00:46:41,200 if I fail to achieve a respectable level in gaming in a limited time, 893 00:46:41,360 --> 00:46:43,480 - I'd leave gaming. - A contract! 894 00:46:43,640 --> 00:46:46,040 At that moment, I decided to be a gamer. 895 00:46:46,080 --> 00:46:49,040 And I launched my brand Upthrust Esports. 896 00:46:49,240 --> 00:46:51,120 [inspirational music] 897 00:46:51,600 --> 00:46:53,440 Hi, Sharks! I'm Kartik Sabherwal 898 00:46:53,520 --> 00:46:55,280 from Jhansi and I'm 21 years old. 899 00:46:55,360 --> 00:46:56,840 - Wow! - Wow! 900 00:46:57,160 --> 00:46:58,920 Hi, Sharks! My name is Vaibhav Kumar. 901 00:47:15,000 --> 00:47:16,560 and produced too. 902 00:47:16,640 --> 00:47:19,240 There are plenty of events for different games 903 00:47:19,320 --> 00:47:20,360 but they are virtual. 904 00:47:20,560 --> 00:47:22,160 For example, the man of the match in cricket, 905 00:47:22,240 --> 00:47:25,320 the best bowler and the best batsman are given varied prize money. 906 00:47:25,400 --> 00:47:26,840 Also, the winners are given a trophy. 907 00:47:26,920 --> 00:47:29,400 Similarly, the winning gamers in our gaming events 908 00:47:29,520 --> 00:47:30,880 get different amounts of prize money 909 00:47:30,960 --> 00:47:32,360 and trophies. 910 00:47:32,440 --> 00:47:35,320 We broadcast our gaming events on YouTube 911 00:47:35,400 --> 00:47:38,800 where we have more than 3.5 lakh subscribers. 912 00:47:40,080 --> 00:47:41,520 We broadcast these events 913 00:47:41,680 --> 00:47:43,240 on Loco too 914 00:47:43,320 --> 00:47:45,120 which is an Indian gaming platform. 915 00:47:45,240 --> 00:47:46,360 [inspirational music] 916 00:47:46,720 --> 00:47:48,240 Aside from our brand, 917 00:47:53,400 --> 00:47:54,720 in our events 918 00:47:54,920 --> 00:47:58,760 to connect the brands with their target audience 919 00:47:58,880 --> 00:48:01,240 through their advertisement. 920 00:48:02,400 --> 00:48:06,120 Upthrust Esports reached 10 crore people in the last two years. 921 00:48:06,320 --> 00:48:08,720 We have organised more than 30 gaming events 922 00:48:08,880 --> 00:48:11,680 whose pool price is around Rs. 1 crore. 923 00:48:22,440 --> 00:48:24,560 is worth Rs. 18,000 crores. 924 00:48:25,400 --> 00:48:27,720 Our vision is to become 925 00:48:27,880 --> 00:48:30,320 the top organisers globally. 926 00:48:30,560 --> 00:48:33,320 We want to provide a platform to gamers 927 00:48:33,520 --> 00:48:35,720 where they may showcase their talent. 928 00:48:36,800 --> 00:48:39,560 - Our motive is to empower e-sports in India. - Wow! 929 00:48:39,840 --> 00:48:42,080 Our ask is Rs. 75 lakhs 930 00:48:42,160 --> 00:48:43,600 for 3% equity. 931 00:48:48,240 --> 00:48:50,720 It's next to impossible to compel Indian parents to say that. 932 00:48:50,960 --> 00:48:54,080 - You said there are 42 crore gamers. - Yes. 933 00:48:54,320 --> 00:48:55,800 I can authoritatively say this 934 00:48:55,880 --> 00:48:58,280 because I started the first gaming company in India. 935 00:48:59,720 --> 00:49:00,960 It's called Mauj Mobile. 936 00:49:01,160 --> 00:49:03,480 I agree that there are 42 crore gamers 937 00:49:03,560 --> 00:49:06,360 but most of them are casual gamers. 938 00:49:06,480 --> 00:49:10,560 Correct! Basically, we cater to the mid-core and the hard-core. 939 00:49:10,800 --> 00:49:13,760 Currently, hard-core professional gamers 940 00:49:13,840 --> 00:49:16,520 are more than a million in the year 2022. 941 00:49:21,200 --> 00:49:25,280 Are your parents happy with your work now? 942 00:49:25,720 --> 00:49:28,280 They asked me to earn 943 00:49:28,400 --> 00:49:30,120 Rs. 50,000 within six months. 944 00:49:30,200 --> 00:49:32,600 - Go on. - I earned Rs. 5 lakhs within six months. 945 00:49:32,720 --> 00:49:34,480 - Woo-hoo! - Then they never asked. 946 00:49:34,640 --> 00:49:35,880 I salute you, boss. 947 00:49:37,000 --> 00:49:39,280 - Will you show us a demo? - Yes. 948 00:49:39,400 --> 00:49:43,640 Sharks, we'd like to show you a live demo for a better experience. 949 00:49:43,800 --> 00:49:47,120 The world of sports has hosts and commentators. 950 00:49:47,200 --> 00:49:49,440 Similarly, the world of e-sports has casters. 951 00:49:49,520 --> 00:49:51,240 We'd like to introduce you 952 00:49:51,360 --> 00:49:53,000 to a professional e-sports caster 953 00:49:53,120 --> 00:49:54,600 who would brief you about the games. 954 00:49:54,680 --> 00:49:56,920 - Can we bring them here? - Sure! 955 00:49:57,080 --> 00:49:58,960 [dramatic music] 956 00:49:59,800 --> 00:50:00,800 - Hi, Sharks! - Hi! 957 00:50:00,920 --> 00:50:03,520 I'm Speedo and I'm a professional e-sports caster. 958 00:50:09,040 --> 00:50:11,320 [upbeat music] 959 00:50:11,920 --> 00:50:13,560 Today we'll play New State Mobile. 960 00:50:13,640 --> 00:50:14,880 The rules are simple. 961 00:50:15,000 --> 00:50:17,480 The Shark who scores the first two points 962 00:50:17,640 --> 00:50:19,280 - would win. - Gosh! 963 00:50:19,520 --> 00:50:20,920 [epic music] 964 00:50:21,080 --> 00:50:22,880 - Where is the gun? - You'll see it now. 965 00:50:23,040 --> 00:50:24,640 - Now you may move forward. - How do we shoot? 966 00:50:24,800 --> 00:50:25,920 - Use this. - "Shooting!" 967 00:50:26,360 --> 00:50:27,520 - Which one? This? - Yes! 968 00:50:27,920 --> 00:50:30,560 As you know, it's a one-to-one competition. 969 00:50:32,000 --> 00:50:34,000 As they are new, they are trying to explore the controls. 970 00:50:34,080 --> 00:50:35,840 They want to figure out what they can do. 971 00:50:35,920 --> 00:50:37,960 - And here you go! He won a point! - Yes! 972 00:50:38,040 --> 00:50:39,760 - Anupam scored the first point. - He got a point but not me. 973 00:50:39,880 --> 00:50:41,920 And yes, it's 1-0. 974 00:50:42,800 --> 00:50:44,640 Well done, Anupam! 975 00:50:44,800 --> 00:50:47,080 Sharks, this is how we execute it. 976 00:50:47,160 --> 00:50:49,840 The middle part is the interface of the game. 977 00:50:49,960 --> 00:50:53,480 The L-band on the sides is our interface. 978 00:50:53,560 --> 00:50:55,440 - It's for the ads. - Yes. 979 00:50:55,600 --> 00:50:58,360 Alright! The second round will start soon and... 980 00:50:58,880 --> 00:51:01,520 Amit will try to make a comeback in this round. 981 00:51:01,600 --> 00:51:04,640 Let's see how well Kartik guides him. 982 00:51:04,720 --> 00:51:06,160 Here... Shoot! 983 00:51:07,000 --> 00:51:08,960 - Yes! We won! - Yay! 984 00:51:09,320 --> 00:51:12,160 - Anupam won this competition 2-0. - I got it. 985 00:51:12,320 --> 00:51:13,720 Fabulous! 986 00:51:14,000 --> 00:51:15,960 [amusing music] 987 00:51:16,720 --> 00:51:18,400 Wonderful commentary. Thank you so much! 988 00:51:18,480 --> 00:51:20,120 - Superb! - Thank you, brother! 989 00:51:21,280 --> 00:51:23,400 I don't understand the revenue model. 990 00:51:23,560 --> 00:51:26,240 I'm sorry but I don't fathom it. 991 00:51:27,480 --> 00:51:29,120 Our revenue model 992 00:51:29,200 --> 00:51:30,760 is of five types. 993 00:51:30,880 --> 00:51:32,360 - Five? - Yes! 994 00:51:32,480 --> 00:51:35,040 - Please tell us. - When we organise events 995 00:51:35,240 --> 00:51:37,200 on our channel, various brands advertise. 996 00:51:37,240 --> 00:51:38,640 - You mean advertisement revenue. - Correct! 997 00:51:38,760 --> 00:51:40,840 Not just advertisements, we give our streaming rights 998 00:51:40,920 --> 00:51:42,560 to Loco for a particular event. 999 00:51:42,640 --> 00:51:44,320 They pay us some amount in exchange for that. 1000 00:51:44,400 --> 00:51:47,560 So ads and streaming rights give revenue for owned events. 1001 00:51:47,880 --> 00:51:50,640 Correct! We outsell our production 1002 00:51:50,720 --> 00:51:52,520 and do white-label events too. 1003 00:51:52,640 --> 00:51:56,080 We connect the brand with the influencer. 1004 00:51:56,200 --> 00:51:58,040 - So it acts like a marketplace. - Yes. Correct! 1005 00:51:58,120 --> 00:51:59,600 Okay, got it. Then? 1006 00:51:59,680 --> 00:52:00,720 We also do brand integration. 1007 00:52:02,240 --> 00:52:04,840 Kartik and Vaibhav, let's try to understand your industry. 1008 00:52:16,880 --> 00:52:19,960 but still, let's break up this industry. 1009 00:52:20,160 --> 00:52:21,040 [sweeping music] 1010 00:52:21,560 --> 00:52:23,280 Let's take the analogy of films. 1011 00:52:23,440 --> 00:52:24,760 There's a studio named Marvel. 1012 00:52:54,400 --> 00:52:56,080 - You are not a distributor. - No. 1013 00:52:56,400 --> 00:52:59,880 Making a business in this line is possible, 1014 00:53:00,040 --> 00:53:02,560 but difficult when it comes to investing in it. 1015 00:53:03,840 --> 00:53:08,040 You basically are an e-gaming organiser as of date. 1016 00:53:09,000 --> 00:53:12,040 And you can build a business to a certain extent. 1017 00:53:12,120 --> 00:53:13,680 Say 2 crores, 5 crores or even 10 crores. 1018 00:53:13,800 --> 00:53:14,960 But beyond that, 1019 00:53:15,040 --> 00:53:17,080 how will you disproportionately scale 1020 00:53:17,160 --> 00:53:19,480 so that I get returns as an investor? 1021 00:53:19,600 --> 00:53:21,200 [intense music playing] 1022 00:53:21,480 --> 00:53:23,960 That's not clear to me. You have not been able to explain. 1023 00:53:24,080 --> 00:53:25,480 - Would you like to say something? - Yes. 1024 00:53:25,560 --> 00:53:28,280 Basically, the revenue we generated last year 1025 00:53:28,360 --> 00:53:32,040 was only from August to March and was Rs. 59 lakhs. 1026 00:53:32,080 --> 00:53:34,120 This year, in six months, 1027 00:53:34,120 --> 00:53:35,920 we've generated a revenue of 3 crores. 1028 00:53:36,200 --> 00:53:38,160 - What! - Wow! Well done. 1029 00:53:44,000 --> 00:53:47,800 Because I believe you won't be able to scale beyond a certain point. 1030 00:53:47,840 --> 00:53:50,200 I will however praise one attribute. 1031 00:53:50,400 --> 00:53:52,480 There's a saying, "Make your passion your work" 1032 00:53:52,560 --> 00:53:53,760 "and you won't work a day." 1033 00:53:53,840 --> 00:53:54,920 You did that. 1034 00:53:54,920 --> 00:53:58,240 Your parents must be proud and that's a matter of pride. 1035 00:53:58,240 --> 00:53:59,120 But I am out. 1036 00:54:00,840 --> 00:54:01,720 Good luck. 1037 00:54:02,000 --> 00:54:03,720 I, too, have made my decision. 1038 00:54:04,640 --> 00:54:08,520 We can help you if we have a particular business acumen. 1039 00:54:08,600 --> 00:54:10,360 We can give you mentorship and capital. 1040 00:54:10,480 --> 00:54:12,640 But in this area, 1041 00:54:12,720 --> 00:54:15,160 - I have no expertise whatsoever. - No expertise! 1042 00:54:17,240 --> 00:54:19,720 So, I can't help you one bit. 1043 00:54:19,920 --> 00:54:21,920 And for that reason, I am out. 1044 00:54:22,080 --> 00:54:23,280 But I wish you the best. 1045 00:54:24,840 --> 00:54:28,240 In sports, the top-level players mint money just as in reality. 1046 00:54:28,320 --> 00:54:29,680 - Will that happen here? - Yes, it will. 1047 00:54:31,160 --> 00:54:32,880 Top players make millions of dollars. 1048 00:54:33,400 --> 00:54:35,840 Even in a game of cricket, there are 16 players. 1049 00:54:35,920 --> 00:54:38,680 But everyone is passionate about representing... 1050 00:54:38,720 --> 00:54:40,560 Wow! What an answer! 1051 00:55:09,400 --> 00:55:11,000 and how easy it is to get into the market... 1052 00:55:11,080 --> 00:55:14,200 I am not sure you have a moat 1053 00:55:14,440 --> 00:55:18,880 to prevent other people from competing with you. 1054 00:55:19,000 --> 00:55:21,040 So, I can't invest in this now. 1055 00:55:21,120 --> 00:55:22,760 But best of luck and well done. 1056 00:55:23,760 --> 00:55:25,520 I believe in Esports. 1057 00:55:25,600 --> 00:55:27,160 I believe Esports is the future 1058 00:55:27,280 --> 00:55:28,960 which is evident from your business. 1059 00:55:29,800 --> 00:55:31,120 I doubt 1060 00:55:31,200 --> 00:55:34,800 that what you are doing are a small-level 1061 00:55:34,880 --> 00:55:38,160 esports competition and its sponsorship. 1062 00:55:38,840 --> 00:55:40,760 You know, Dell is organising competitions too. 1063 00:55:40,840 --> 00:55:41,800 As is Intel. 1064 00:55:41,920 --> 00:55:45,520 So, what do you have in you to deal with this competition? 1065 00:55:45,680 --> 00:55:49,200 The brand names you just took outsource to production companies. 1066 00:55:49,240 --> 00:55:50,960 They hire people like us 1067 00:55:51,000 --> 00:55:53,560 and companies like us to organise their events. 1068 00:55:55,400 --> 00:55:58,160 I would like to be out not because I don't believe in it. 1069 00:55:58,240 --> 00:56:00,000 I'd have invested if I found the business profitable. 1070 00:56:00,080 --> 00:56:02,480 If this is the future and is inevitable, so be it. 1071 00:56:02,560 --> 00:56:05,200 But this is production and not a platform. 1072 00:56:06,240 --> 00:56:08,280 I wish to be out. 1073 00:56:08,480 --> 00:56:09,640 Aman, you're the only one left. 1074 00:56:09,640 --> 00:56:12,160 I want to tell you that I, too, am out. 1075 00:56:13,120 --> 00:56:14,240 May I ask you a question? 1076 00:56:14,240 --> 00:56:15,880 What was your profit out of Rs. 3 crores? 1077 00:56:15,960 --> 00:56:18,880 - Last year's net profit... - In the last six months. 1078 00:56:18,960 --> 00:56:20,320 30 to 35%. 1079 00:56:20,400 --> 00:56:21,720 Why are you raising funds? 1080 00:56:21,800 --> 00:56:23,240 Build your production company.