1 00:00:30,640 --> 00:00:33,160 [theme music playing] 2 00:00:51,080 --> 00:00:53,680 [theme music continues] 3 00:01:21,720 --> 00:01:24,720 [theme music fades] 4 00:01:25,720 --> 00:01:29,040 We all know that our toothpaste contains salt. 5 00:01:29,160 --> 00:01:31,040 And it also has clove. 6 00:01:33,280 --> 00:01:35,440 And our toothpaste also contains neem. 7 00:01:36,680 --> 00:01:38,440 But do you know 8 00:01:38,480 --> 00:01:41,520 that our toothpaste also contains sodium lauryl sulfate? 9 00:01:43,240 --> 00:01:45,320 Which is a harmful ingredient. 10 00:01:46,640 --> 00:01:49,160 It is used in detergents to create foam. 11 00:01:50,360 --> 00:01:52,080 But no one discloses it. 12 00:01:52,920 --> 00:01:55,120 The toothpaste of leading market brands 13 00:01:55,200 --> 00:01:56,960 that lay on our bathroom shelves 14 00:01:57,000 --> 00:01:59,080 contain even more harmful ingredients. 15 00:02:00,480 --> 00:02:02,480 Some of which are banned in foreign countries. 16 00:02:02,880 --> 00:02:03,760 Oh my God! 17 00:02:04,000 --> 00:02:05,320 The lack of awareness 18 00:02:05,360 --> 00:02:08,120 and the neglect we show towards oral hygiene 19 00:02:08,400 --> 00:02:11,960 leads to us paying very high fees to dentists. 20 00:02:12,120 --> 00:02:13,920 [intense music playing] 21 00:02:14,120 --> 00:02:16,360 India has many clean and effective solutions 22 00:02:16,400 --> 00:02:19,560 when it comes to skincare and personal care. 23 00:02:19,600 --> 00:02:20,920 But what about oral care? 24 00:02:22,000 --> 00:02:23,640 So, we present to you Perfora. 25 00:02:23,760 --> 00:02:25,360 [music playing] 26 00:02:26,320 --> 00:02:29,040 Greetings, Sharks. My name is Tushar Khurana. 27 00:02:40,920 --> 00:02:42,840 We are the founders of Perfora. 28 00:02:53,920 --> 00:02:57,560 Perfora is a unique and complete oral care brand 29 00:02:57,600 --> 00:02:59,080 that not just sells toothpaste, 30 00:02:59,120 --> 00:03:01,280 but also smart electric toothbrushes, 31 00:03:01,360 --> 00:03:04,320 alcohol-free mouthwash, smart water flossers 32 00:03:13,760 --> 00:03:17,000 In our brand journey that began in August 2021, 33 00:03:17,160 --> 00:03:20,800 we have served over 40,000 customers. 34 00:03:22,080 --> 00:03:23,480 Sharks, our vision is 35 00:03:48,480 --> 00:03:50,840 Jatan and Tushar, welcome to Shark Tank. 36 00:03:50,920 --> 00:03:51,800 - Thank you. - Thank you. 37 00:03:51,880 --> 00:03:56,120 There must be at least 50 start-ups 38 00:03:56,160 --> 00:03:58,080 I've seen in this space. 39 00:03:58,160 --> 00:04:00,880 Sir, I think we're the first ones who started the... 40 00:04:04,360 --> 00:04:07,240 Let's start with your education and where you grew up. 41 00:04:07,360 --> 00:04:09,960 And what made you want to be an entrepreneur? 42 00:04:10,080 --> 00:04:12,040 I studied in Ballarpur till the tenth grade. 43 00:04:13,160 --> 00:04:15,600 It's a small town and my exposure was very limited. 44 00:04:15,680 --> 00:04:19,440 I had the ambition to do something big in life. 45 00:04:19,560 --> 00:04:21,400 I was hoping for a miracle by going to a big city. 46 00:04:21,520 --> 00:04:24,480 So, I went to Delhi University to study BCom Hons at Khalsa College. 47 00:04:24,560 --> 00:04:27,200 I was in Karnal until the seventh grade. 48 00:04:27,200 --> 00:04:30,720 I spent the next 6 years in a boarding school in Dehradun. 49 00:04:31,960 --> 00:04:35,360 I, too, went to Delhi University. I pursued BCom Hons from SRCC. 50 00:04:42,560 --> 00:04:44,280 This is a chartered train 51 00:04:44,360 --> 00:04:48,200 with 500 aspiring entrepreneurs and changemakers. 52 00:04:49,280 --> 00:04:51,400 [pleasant music playing] 53 00:04:51,920 --> 00:04:55,000 The objective of this programme is to meet a lot of people. 54 00:04:55,480 --> 00:05:00,160 That's how I met Tushar through a friend in my cohort. 55 00:05:01,680 --> 00:05:05,320 I remember a few things about Tushar very clearly. 56 00:05:05,400 --> 00:05:08,920 One, he, too, was seeking answers just like me. 57 00:05:09,040 --> 00:05:11,760 About life and career options. 58 00:05:12,240 --> 00:05:15,480 Both of us were working in start-ups. 59 00:05:17,280 --> 00:05:18,520 We had a connection. 60 00:05:18,640 --> 00:05:20,080 After that short meeting, 61 00:05:20,120 --> 00:05:22,160 we interacted once or twice more during the programme. 62 00:05:22,240 --> 00:05:24,400 We both were based in Gurgaon. 63 00:05:24,520 --> 00:05:28,480 We started meeting a lot after that and became good friends. 64 00:05:28,920 --> 00:05:31,000 [pleasant music playing] 65 00:05:31,520 --> 00:05:35,600 I feel it's very easy to find a life partner in today's times. 66 00:05:35,760 --> 00:05:38,000 You have 10 apps and websites available. 67 00:05:38,080 --> 00:05:40,880 But there is no platform to find a business partner. 68 00:05:42,600 --> 00:05:47,080 The trust level and the camaraderie you have with a cofounder 69 00:05:47,360 --> 00:05:48,880 are extremely important. 70 00:05:50,280 --> 00:05:51,840 The same thing happened in our relationship too. 71 00:05:51,840 --> 00:05:52,880 We met at the programme, 72 00:05:52,960 --> 00:05:55,360 worked together and our friendship evolved. 73 00:05:55,440 --> 00:05:57,040 Finally, we became business partners. 74 00:05:57,120 --> 00:05:59,440 [uplifting music playing] 75 00:05:59,560 --> 00:06:01,400 Wow! What are your roles? 76 00:06:01,520 --> 00:06:04,480 I oversee sales, accounting and finance. 77 00:06:04,680 --> 00:06:06,560 I oversee new product development, 78 00:06:06,560 --> 00:06:09,000 operations, supply chain and brand communication. 79 00:06:12,920 --> 00:06:15,080 [pleasant music playing] 80 00:06:17,960 --> 00:06:20,360 There are personalised toothbrushes for everybody. 81 00:06:20,440 --> 00:06:21,800 And this is a gift box... 82 00:06:21,920 --> 00:06:23,920 - Namita, lavender. - Which one? This one? 83 00:06:24,040 --> 00:06:24,920 And what is that? 84 00:06:25,000 --> 00:06:26,920 That's mouthwash packaging. 85 00:06:27,000 --> 00:06:28,160 Show me your teeth. 86 00:06:28,840 --> 00:06:29,880 There's still work to do. 87 00:06:30,080 --> 00:06:32,560 There's a company called Perfora. 88 00:06:32,880 --> 00:06:35,240 They make teeth-whitening products. 89 00:06:35,400 --> 00:06:36,600 - Have you used it? - Yes, sir. 90 00:06:36,640 --> 00:06:37,760 Okay, try again. 91 00:06:37,840 --> 00:06:39,480 I'm not taking everything. But what is this? 92 00:06:39,560 --> 00:06:40,760 This is toothpaste. 93 00:06:40,920 --> 00:06:41,880 Okay. And this? 94 00:06:41,920 --> 00:06:43,920 - Mouthwash. You're holding its packaging. - This? 95 00:06:43,960 --> 00:06:45,640 - This is also toothpaste. - Just a different flavour. 96 00:06:45,760 --> 00:06:47,960 - No. It's a morning-evening concept. - Oh, okay! 97 00:06:48,040 --> 00:06:49,760 [music playing] 98 00:06:49,840 --> 00:06:52,920 Yes. Oh, Peyush. This is the electrical toothbrush. 99 00:06:53,000 --> 00:06:55,200 Oh, wow! It has my name. 100 00:06:55,440 --> 00:06:56,640 How sweet! 101 00:06:56,840 --> 00:06:58,880 This is really good personalisation. 102 00:06:59,040 --> 00:07:00,320 Your product is good. 103 00:07:00,360 --> 00:07:02,040 It's cool even to see. 104 00:07:03,040 --> 00:07:05,640 Delicious toothpaste, the yellow one. 105 00:07:05,720 --> 00:07:07,280 I don't know if all are the same flavour. 106 00:07:07,360 --> 00:07:08,960 Lemon-mint. It's very refreshing. 107 00:07:09,000 --> 00:07:10,040 - Nice. - The flavours are fantastic. 108 00:07:10,080 --> 00:07:11,760 Lemon-mint and lavender-rose. 109 00:07:11,920 --> 00:07:14,360 Fantastic! Great job. 110 00:07:14,880 --> 00:07:18,480 Do the toothpaste manufactured by big brands really contain 111 00:07:21,960 --> 00:07:25,000 So, the number one brand has SLS for sure? 112 00:07:25,280 --> 00:07:26,400 Absolutely sure. 113 00:07:27,640 --> 00:07:30,560 You will find three ingredients in every toothpaste brand. 114 00:07:30,640 --> 00:07:32,680 The first is sodium lauryl sulfate which is SLS. 115 00:07:33,480 --> 00:07:35,040 The second is titanium dioxide. 116 00:07:35,200 --> 00:07:36,640 And the third is sodium saccharin. 117 00:07:36,720 --> 00:07:38,800 And all three are highly questionable ingredients. 118 00:07:39,840 --> 00:07:42,960 And what about the foam? Because SLS causes foaming. 119 00:07:43,120 --> 00:07:45,520 We have used alternate ingredients for the foaming 120 00:07:45,600 --> 00:07:46,840 which is in lesser quantity, 121 00:07:46,880 --> 00:07:48,760 - but you won't feel... - Your teeth aren't clean. 122 00:07:48,800 --> 00:07:49,680 That's right. 123 00:07:49,720 --> 00:07:52,200 There are many similar products in the market now 124 00:07:53,000 --> 00:07:54,520 that are doing the same thing. 125 00:07:54,560 --> 00:07:55,560 But we were the pioneers. 126 00:07:55,680 --> 00:07:58,040 Yes, you are number one. 127 00:07:58,120 --> 00:07:59,760 - But there are others. - What's your price 128 00:07:59,800 --> 00:08:01,920 compared to popular brands? 129 00:08:02,000 --> 00:08:04,280 If we were to talk about mass products in toothpaste, 130 00:08:04,400 --> 00:08:07,520 Colgate sells 100 grams for Rs. 100. 131 00:08:14,160 --> 00:08:16,160 Teeth whitening 132 00:08:16,440 --> 00:08:19,400 is backed by evidence and is science-based, right? 133 00:08:19,600 --> 00:08:21,800 I was checking, this doesn't make any claims. 134 00:08:26,720 --> 00:08:28,080 you will see visible results. 135 00:08:28,320 --> 00:08:30,840 Whereas all the US products make claims. 136 00:08:31,160 --> 00:08:32,960 [intense music playing] 137 00:08:33,160 --> 00:08:35,280 Why haven't you made any claims? 138 00:08:35,360 --> 00:08:37,600 We have not made any claims because the intention is 139 00:08:37,800 --> 00:08:40,120 we don't wish to make any false claims. 140 00:08:41,520 --> 00:08:43,640 The composition of ingredients that we have used 141 00:08:43,640 --> 00:08:45,440 is backed by clinically researched studies 142 00:08:45,520 --> 00:08:46,720 that it is efficacious. 143 00:08:46,840 --> 00:08:48,680 How many days will it take my teeth to turn white? 144 00:08:48,800 --> 00:08:51,400 Visibly three whiter shades in four weeks... 145 00:08:51,520 --> 00:08:54,400 Do you have the data on users? 146 00:08:54,520 --> 00:08:58,200 We plan on conducting studies and interviewing users 147 00:08:58,240 --> 00:09:00,040 - because that will... - That is very important. 148 00:09:01,040 --> 00:09:02,560 Second question. Quick one. 149 00:09:03,520 --> 00:09:07,560 Because your price for toothpaste is 2.5 times a normal toothpaste, 150 00:09:07,680 --> 00:09:10,680 there are chances that maybe a multinational 151 00:09:10,880 --> 00:09:12,480 or a big Indian company 152 00:09:12,560 --> 00:09:15,080 might approach you and say they want to acquire you. 153 00:09:15,400 --> 00:09:16,680 What will your answer be? 154 00:09:16,840 --> 00:09:18,840 [tense music playing] 155 00:09:19,280 --> 00:09:20,600 We wish to make a legacy brand. 156 00:09:20,720 --> 00:09:24,000 We wish to spend a good 25 years in oral care. 157 00:09:24,200 --> 00:09:26,320 And to put it in basic language, 158 00:09:26,400 --> 00:09:29,160 Colgate 2.0 will be made in India and we will make it. 159 00:09:29,320 --> 00:09:31,040 Wow! What a solid vision. 160 00:09:31,160 --> 00:09:32,360 I like the aggression. 161 00:09:32,880 --> 00:09:35,400 - Sameer funded you, right? - Yes. 162 00:09:35,400 --> 00:09:37,360 - My cofounder. - Yes. 163 00:09:38,240 --> 00:09:41,200 Sameer invested at an early stage when you had just started. 164 00:09:42,160 --> 00:09:43,040 We did two rounds. 165 00:09:43,040 --> 00:09:46,240 One was pre-revenue in April 2021. 166 00:09:46,520 --> 00:09:47,360 Okay. 167 00:09:47,480 --> 00:09:50,680 We had raised Rs. 2 crores at Rs. 13 crores post-money. 168 00:10:03,000 --> 00:10:05,320 You went from Rs. 39 crores to Rs. 80 crores. 169 00:10:06,320 --> 00:10:08,440 What caused this miracle and why? 170 00:10:08,560 --> 00:10:11,280 Our business has grown 2.5x 171 00:10:11,320 --> 00:10:13,640 - from February to August. - There's the miracle. 172 00:10:13,800 --> 00:10:15,720 And our valuation only grew 2x. 173 00:10:15,800 --> 00:10:17,480 What did you do in five months 174 00:10:17,480 --> 00:10:19,120 that your sales became two and a half times? 175 00:10:19,200 --> 00:10:22,200 Products were added, we grew existing channels. 176 00:10:22,320 --> 00:10:24,640 We went deep into our existing channels. 177 00:10:24,720 --> 00:10:27,000 We understood the customer and worked on how to better our metrics. 178 00:10:28,520 --> 00:10:32,080 Our customer service, delivery, pricing and others. 179 00:10:33,640 --> 00:10:36,520 What is your burn and marketing spend? 180 00:10:36,600 --> 00:10:40,560 Last month, our gross sales were Rs. 89 lakhs. 181 00:10:40,960 --> 00:10:43,800 After removing GST, it is Rs. 77 lakhs. 182 00:10:48,440 --> 00:10:50,440 So, about 32-33%. 183 00:10:50,480 --> 00:10:51,920 What is your gross margin? 184 00:10:52,040 --> 00:10:54,600 Our gross margin on our portfolio is 57%. 185 00:10:54,600 --> 00:10:55,440 That's it! 186 00:10:57,280 --> 00:10:59,240 What is your marketing cost per month? 187 00:10:59,320 --> 00:11:01,440 Around 45% of the revenue. 188 00:11:01,640 --> 00:11:04,040 - How many followers? - 10,200 right now. 189 00:11:04,120 --> 00:11:06,240 You have very few followers despite your sales. 190 00:11:06,320 --> 00:11:08,960 [tense music playing] 191 00:11:09,120 --> 00:11:11,000 You are not leveraging social media. 192 00:11:11,040 --> 00:11:14,880 Your focus is on paid marketing. That's why your expense is high. 193 00:11:16,120 --> 00:11:18,200 You're spending too much because you're in a hurry. 194 00:11:18,200 --> 00:11:19,840 Why are you in a hurry to grow? 195 00:11:19,960 --> 00:11:22,640 We are in a hurry because as Peyush mentioned, 196 00:11:22,720 --> 00:11:24,880 there's a lot of competition in this category 197 00:11:24,920 --> 00:11:26,000 and more is expected. 198 00:11:27,360 --> 00:11:29,560 No, brother. No! 199 00:11:30,600 --> 00:11:34,960 Look. Three cycles are through in ten years. 200 00:11:35,120 --> 00:11:37,760 Companies get established and close down. 201 00:11:38,200 --> 00:11:40,840 In the end, those companies win that think long-term. 202 00:11:42,360 --> 00:11:44,200 You keep saying you were the pioneers, 203 00:11:44,200 --> 00:11:46,240 but it doesn't matter if you were first or second. 204 00:11:48,280 --> 00:11:50,920 What will matter is whether you will stay till the end. 205 00:11:52,280 --> 00:11:54,120 Your biggest weapon 206 00:11:54,440 --> 00:11:58,280 is to use fear to sell your products. 207 00:11:59,240 --> 00:12:01,000 Tell consumers what goes in their mouths! 208 00:12:01,360 --> 00:12:02,840 Why didn't you use efficacy, 209 00:12:02,920 --> 00:12:05,760 fear or a combination of both 210 00:12:05,920 --> 00:12:08,120 to sell your product? 211 00:12:08,200 --> 00:12:09,960 [tense music] 212 00:12:10,040 --> 00:12:12,480 We want to present a different point of view to the consumers. 213 00:12:13,640 --> 00:12:16,120 All the companies are using the same taglines. 214 00:12:16,200 --> 00:12:18,840 "5x plaque removal and 3x whitened teeth." 215 00:12:19,000 --> 00:12:21,320 Anupam, if we use the same taglines, 216 00:12:21,400 --> 00:12:23,560 we can't stand out in our communication. 217 00:12:24,960 --> 00:12:27,960 Anupam, it's my experience with contact lenses 218 00:12:28,440 --> 00:12:31,240 and spectacles. They fall in the medical category for ages. 219 00:12:31,440 --> 00:12:34,280 We are selling a medical category item as fashion. 220 00:12:34,440 --> 00:12:36,640 If you want to shake up a particular category, 221 00:12:36,840 --> 00:12:38,480 there must be a provocation. 222 00:12:38,680 --> 00:12:42,240 - Look at the whole truth. - The provocation is missing as we sell 223 00:12:42,480 --> 00:12:45,080 the contact lenses costing Rs. 2,000 for Rs. 500. 224 00:12:45,160 --> 00:12:46,480 So that's a provocation. 225 00:12:46,560 --> 00:12:49,000 But you are selling Rs. 100 items for Rs. 250. 226 00:12:49,080 --> 00:12:50,400 - That's right. - You'll face an issue in scaling up. 227 00:12:50,480 --> 00:12:51,680 [dramatic music] 228 00:12:52,000 --> 00:12:53,720 You have to have some provocation. 229 00:12:53,800 --> 00:12:56,880 It could be price, fear or efficacy. 230 00:12:57,280 --> 00:12:58,920 We agree. We are aligned. 231 00:12:59,040 --> 00:13:01,360 We have learnt on the fly as we aren't the smartest people. 232 00:13:01,480 --> 00:13:02,440 We are still learning. 233 00:13:02,560 --> 00:13:05,560 And honestly, our next product line of toothpaste 234 00:13:16,240 --> 00:13:18,720 that you have to grow your business profitably without burning? 235 00:13:19,160 --> 00:13:22,200 Or did your investors ask you to burn cash to grow your business? 236 00:13:22,280 --> 00:13:25,240 Vineeta, we eventually want to make it a profitable brand. 237 00:13:26,320 --> 00:13:28,320 As I said, honestly, 238 00:13:28,440 --> 00:13:30,720 it's a game spanning 20 to 25 years. 239 00:13:30,800 --> 00:13:32,680 We want to make it an iconic legacy brand. 240 00:13:32,760 --> 00:13:34,280 Even the brands that we look up to, 241 00:13:34,400 --> 00:13:37,320 for instance, Method is one of our favourite brands in the US. 242 00:13:37,440 --> 00:13:40,320 Of course, it was acquired but its founder was a visionary. 243 00:13:40,400 --> 00:13:41,760 He launched multiple brands. 244 00:13:43,120 --> 00:13:44,560 What's your favourite brand in India? 245 00:13:44,720 --> 00:13:46,560 My favourite brand in India is Licious. 246 00:13:46,760 --> 00:13:48,280 [chuckling] What about Lenskart? 247 00:13:49,480 --> 00:13:50,920 - What about boAt? - SUGAR? 248 00:13:51,520 --> 00:13:53,520 - Wrong answer! - It's the wrong answer. 249 00:13:53,600 --> 00:13:55,440 You gave the wrong answer. 250 00:13:56,280 --> 00:13:58,360 We have an offer. 251 00:13:58,640 --> 00:14:02,760 We'll give a valuation based on your revenue. Your current net revenue 252 00:14:02,840 --> 00:14:04,680 run rate is Rs. 10 crores. 253 00:14:04,800 --> 00:14:06,240 So accordingly, 254 00:14:06,360 --> 00:14:10,080 Namita and I want to offer you a valuation of Rs. 20 crores. 255 00:14:10,280 --> 00:14:12,000 [epic music] 256 00:14:12,120 --> 00:14:14,120 As per your ask of Rs. 80 lakhs 257 00:14:20,640 --> 00:14:23,920 and I will bring my branding, content and community. 258 00:14:26,160 --> 00:14:28,840 Thank you so much because it means a lot to us. 259 00:14:29,880 --> 00:14:31,240 This offer, um... 260 00:14:31,640 --> 00:14:35,080 As not very smart entrepreneurs but decent entrepreneurs 261 00:14:35,200 --> 00:14:37,160 we can't accept it because we feel 262 00:14:37,320 --> 00:14:40,360 that it isn't wealth creation for our existing shareholders. 263 00:14:40,480 --> 00:14:42,400 [suspenseful music] 264 00:14:42,920 --> 00:14:45,320 I agree! If you want to run your company for another 20 years, 265 00:14:45,400 --> 00:14:47,280 their wealth creation will be in IPO. 266 00:14:48,440 --> 00:14:51,320 In this round, they needn't do wealth creation through Sharks. 267 00:14:51,600 --> 00:14:53,000 [sweeping music] 268 00:14:53,120 --> 00:14:55,480 Please tell me your strategy. 269 00:14:55,760 --> 00:14:58,600 What is your next milestone? 270 00:14:58,680 --> 00:15:01,560 My next milestone is Rs. 2 crores monthly revenue 271 00:15:01,760 --> 00:15:04,760 which we want to accomplish in the next nine months. 272 00:15:04,960 --> 00:15:06,720 [suspenseful music] 273 00:15:07,320 --> 00:15:08,480 At what loss? 274 00:15:08,640 --> 00:15:09,960 Our EBITDA will be 15%. 275 00:15:10,160 --> 00:15:11,200 - Profit? - Positive? 276 00:15:11,360 --> 00:15:12,360 - Negative! - Negative! 277 00:15:12,480 --> 00:15:14,360 In the next six months, we want to reach Rs. 3 crores. 278 00:15:14,440 --> 00:15:16,880 And then we'll break even EBITDA at zero. 279 00:15:17,440 --> 00:15:19,240 [suspenseful music] 280 00:15:20,680 --> 00:15:23,080 To break even in 15 months and reach Rs. 3 crores, 281 00:15:23,160 --> 00:15:24,920 how much capital do you need? 282 00:15:25,080 --> 00:15:26,520 Our current capital 283 00:15:26,640 --> 00:15:29,320 plus the funds we succeed in raising today 284 00:15:29,560 --> 00:15:30,920 is sufficient for us 285 00:15:31,040 --> 00:15:32,480 to achieve the target of Rs. 3 crores. 286 00:15:32,560 --> 00:15:34,600 We have a proposal for all. 287 00:15:35,040 --> 00:15:37,760 If all five Sharks invest, what will be your deal? 288 00:15:37,840 --> 00:15:39,640 The five-Shark premium. 289 00:15:40,120 --> 00:15:42,560 Your last round was concluded at 32 crores pre-money. 290 00:15:42,920 --> 00:15:44,320 Can you offer us a better deal? 291 00:15:44,400 --> 00:15:47,080 We can't give you a better deal. 292 00:15:47,400 --> 00:15:50,320 Honestly, because we want our employees to earn too. 293 00:15:50,440 --> 00:15:53,720 They agreed to 40% pay cuts to fulfil our dream. 294 00:15:53,800 --> 00:15:56,840 It's not possible for us to reduce beyond it, honestly. 295 00:15:56,920 --> 00:15:58,640 So to give you Rs. 80 lakhs 296 00:15:58,720 --> 00:16:02,080 based on your last pre-money valuation, we'll get 2.5% equity. 297 00:16:02,240 --> 00:16:05,680 Do you agree? We'll check which Sharks are in. It's the lowest offer 298 00:16:05,840 --> 00:16:07,920 and the best offer. Nobody will go lower than this. 299 00:16:08,000 --> 00:16:10,160 At 82.5, it'll be a post-money valuation. 300 00:16:10,400 --> 00:16:11,800 Last time, 32 was a pre-money figure. 301 00:16:11,880 --> 00:16:13,200 Anupam, what's your view? 302 00:16:13,320 --> 00:16:14,520 First, let him answer. 303 00:16:14,600 --> 00:16:17,360 Let me see if they are okay. Then we'll check how many are in or out. 304 00:16:17,440 --> 00:16:20,120 Do you want to discuss this? 305 00:16:21,320 --> 00:16:24,280 We'll do it if it's a five-Shark deal. All-Shark deal. 306 00:16:24,400 --> 00:16:26,520 [sweeping music] 307 00:16:30,560 --> 00:16:32,520 I have made my decision. 308 00:16:34,960 --> 00:16:38,080 Let me tell you. I think I'll be out. 309 00:16:39,880 --> 00:16:42,360 My biggest problem 310 00:16:42,440 --> 00:16:44,440 is that you didn't do anything disruptive till now. 311 00:16:46,280 --> 00:16:48,760 When you enter an established category 312 00:16:48,920 --> 00:16:51,480 with strong brand loyalties, 313 00:16:51,720 --> 00:16:53,800 you must provoke the user. 314 00:16:54,000 --> 00:16:55,440 An attractive font and a nice colour 315 00:16:55,600 --> 00:16:59,680 wouldn't give you attention in an established brand category. 316 00:17:01,400 --> 00:17:04,200 I think you have a long way to go. For that reason, I'm out. Good luck! 317 00:17:05,080 --> 00:17:08,960 I think the valuation is too high for me to enter. 318 00:17:10,240 --> 00:17:13,640 This is what I feel. I think I'll miss the boat in this case. 319 00:17:15,160 --> 00:17:16,720 I will also be out in this case. 320 00:17:17,480 --> 00:17:19,600 - We are very sorry to hear that. - Yes. 321 00:17:20,040 --> 00:17:23,320 Look at my cheque. It's Rs. 16 lakhs, Rs. 40 lakhs... 322 00:17:23,400 --> 00:17:25,560 - I'm confused. - Are you in? 323 00:17:25,640 --> 00:17:26,680 - Yes. - Are you in too? 324 00:17:26,760 --> 00:17:28,160 - I'm in too. - Then let's do it. 325 00:17:28,760 --> 00:17:29,840 Let's take a risk. 326 00:17:30,840 --> 00:17:34,000 Our offer is Rs. 80 lakhs for 2.5% equity to all three Sharks. 327 00:17:41,280 --> 00:17:42,640 It's the same share price. 328 00:17:44,440 --> 00:17:45,880 - It's the same valuation. - Alright. 329 00:17:46,840 --> 00:17:49,240 [dramatic music] 330 00:18:13,800 --> 00:18:15,680 [triumphant music] 331 00:18:15,880 --> 00:18:18,520 This deal will earn money for us. 332 00:18:18,600 --> 00:18:20,120 I like it. I like this. 333 00:19:15,120 --> 00:19:16,600 I have to create 334 00:19:16,760 --> 00:19:20,160 a machine that can create machines that can create more machines. 335 00:19:20,280 --> 00:19:22,080 [exhilarating music] 336 00:19:27,920 --> 00:19:29,560 at 5:30 am. 337 00:19:29,640 --> 00:19:31,920 [exhilarating music] 338 00:19:33,320 --> 00:19:34,880 Kids change your life, right? 339 00:19:36,080 --> 00:19:39,520 Being a father is like a start-up, right? In its own way. 340 00:19:39,680 --> 00:19:41,640 Where you have your cofounder too. 341 00:19:43,680 --> 00:19:46,880 We can also create a special section if we want. 342 00:19:47,120 --> 00:19:49,840 The leadership positions. 343 00:19:49,960 --> 00:19:52,120 My focus for the morning meeting 344 00:19:52,200 --> 00:19:53,920 is to address the most important task 345 00:19:54,000 --> 00:19:55,920 at the beginning. 346 00:19:56,880 --> 00:20:00,000 Let's go! Let's go! Let's go! 347 00:20:01,160 --> 00:20:02,720 'Building organisation' 348 00:20:02,800 --> 00:20:05,680 'is the most exciting thing that I'm working on right now.' 349 00:20:07,040 --> 00:20:09,640 'You have to prepare an army' 350 00:20:09,880 --> 00:20:12,760 'of leaders and colleagues who can make decisions.' 351 00:20:12,840 --> 00:20:14,080 That's my role. 352 00:20:15,800 --> 00:20:17,240 The accountability 353 00:20:17,320 --> 00:20:20,280 needs to sit with the regional head and you need to empower them 354 00:20:20,400 --> 00:20:23,840 to get it done. He shouldn't be the one driving and chasing. 355 00:20:24,200 --> 00:20:25,920 [thrilling music] 356 00:20:26,040 --> 00:20:27,440 'I'm going to Bhiwadi' 357 00:20:27,520 --> 00:20:29,440 'where Lenskart is building the world's largest' 358 00:20:29,520 --> 00:20:31,720 prescription eyewear manufacturing facility. 359 00:20:31,800 --> 00:20:33,760 The capacity of this plant 360 00:20:34,000 --> 00:20:37,440 is to make more than 50 million glasses in a year. 361 00:20:39,880 --> 00:20:42,200 'As an entrepreneur, you are passionate about certain things' 362 00:20:42,280 --> 00:20:43,480 'like design' 363 00:20:43,560 --> 00:20:46,120 and technology. So you enjoy doing it. 364 00:20:46,200 --> 00:20:48,080 [vocalising] 365 00:20:51,960 --> 00:20:54,680 1% of a million is a large number 366 00:20:54,800 --> 00:20:56,840 and 1% of a billion is a very large number. 367 00:20:57,040 --> 00:21:00,400 Detail orientation of every percentage 368 00:21:00,560 --> 00:21:02,600 shouldn't be taken for granted 369 00:21:02,720 --> 00:21:04,560 at any cost. 370 00:21:05,800 --> 00:21:09,280 We will do something exciting as I'm going to visit a store. 371 00:21:10,320 --> 00:21:11,480 I'll disguise myself 372 00:21:11,560 --> 00:21:13,600 by wearing a mask and a cap. 373 00:21:13,720 --> 00:21:15,320 I'll watch closely 374 00:21:15,400 --> 00:21:17,280 the way customers are reacting. 375 00:21:17,360 --> 00:21:19,840 How we are explaining the product and what the customers like. 376 00:21:19,920 --> 00:21:20,920 [thrilling music] 377 00:21:23,720 --> 00:21:25,040 Isn't it too cheap? 378 00:21:28,360 --> 00:21:30,200 [thrilling music] 379 00:21:30,640 --> 00:21:32,280 It's written that the gold membership is free 380 00:21:32,360 --> 00:21:33,640 but you are charging me. 381 00:21:33,720 --> 00:21:36,080 Sir, if you purchase more than Rs. 5,000, you can get it. 382 00:21:36,200 --> 00:21:38,840 No item is worth Rs. 5,000. All of them cost Rs. 1,200 each. 383 00:21:41,560 --> 00:21:43,520 Please answer me now. 384 00:21:45,120 --> 00:21:46,240 Tell me. 385 00:21:47,480 --> 00:21:49,120 Sir, it's nothing. 386 00:21:49,640 --> 00:21:51,200 You did the eye test nicely 387 00:21:51,280 --> 00:21:53,000 but the glasses lack precision. 388 00:21:53,080 --> 00:21:54,400 There is a scope for improvement. 389 00:21:55,640 --> 00:21:58,040 'A leader's job is to go and set the tone.' 390 00:21:59,040 --> 00:22:02,080 There's a saying in customer service, "good is not good enough." 391 00:22:02,520 --> 00:22:04,720 We need to make it better 392 00:22:04,800 --> 00:22:07,320 and get into the details. Whether it is cleaning the glasses 393 00:22:08,520 --> 00:22:10,440 or the eye testing procedure. 394 00:22:10,520 --> 00:22:11,680 Everything counts. 395 00:22:11,800 --> 00:22:14,600 All these things make a brand. Marketing can't build a brand. 396 00:22:15,960 --> 00:22:17,400 'It can be achieved through passion' 397 00:22:17,480 --> 00:22:19,120 'and customer obsession. Their love.' 398 00:22:19,200 --> 00:22:21,240 'If we go and do it personally, ' 399 00:22:21,320 --> 00:22:23,600 others will also do it. And that's how a culture is built. 400 00:22:24,400 --> 00:22:26,120 [thrilling music] 401 00:22:26,280 --> 00:22:28,320 It's a simple rule that we understand too late. 402 00:22:30,000 --> 00:22:33,240 I've heard our next cofounders are a black belt in taekwondo. 403 00:22:33,720 --> 00:22:36,440 Whereas I have this pink belt! 404 00:22:36,760 --> 00:22:40,520 Let's meet the sisters from Gurgaon, Punya and Parina. Welcome. 405 00:22:40,600 --> 00:22:42,040 - Hi. - Hello. 406 00:22:42,120 --> 00:22:45,200 - Who among you is a black belt? - [chuckles] 407 00:22:45,280 --> 00:22:47,120 Can I ask you questions? 408 00:22:47,240 --> 00:22:49,200 Will you be investing? No, right. 409 00:22:49,320 --> 00:22:50,840 - No... - The one who will should be afraid. 410 00:22:50,920 --> 00:22:53,800 That's right. Go and pitch your business. 411 00:22:53,920 --> 00:22:55,560 I'll sit here alone and watch your pitch. 412 00:22:55,640 --> 00:22:57,440 You don't need to sit alone. 413 00:22:57,520 --> 00:23:00,040 - Our parents are also here to support us. - Really! 414 00:23:00,120 --> 00:23:01,440 My, oh, my! 415 00:23:01,680 --> 00:23:03,640 Greetings, sir and ma'am. 416 00:23:04,040 --> 00:23:05,360 Okay, hail the Goddess. 417 00:23:05,360 --> 00:23:06,440 - Thank you. - All the best. 418 00:23:07,800 --> 00:23:10,080 [music playing] 419 00:23:12,760 --> 00:23:15,080 [alarm rings] 420 00:23:16,840 --> 00:23:18,080 Where are we? 421 00:23:18,680 --> 00:23:19,920 Punya, we're on Shark Tank. 422 00:23:20,000 --> 00:23:22,080 Oh! Come on, it's time for our pitch. 423 00:23:22,120 --> 00:23:23,480 - Hi! - Welcome. Hello. 424 00:23:24,920 --> 00:23:27,080 - Oh! Hi, Sharks. - Hi. 425 00:23:27,400 --> 00:23:30,840 Sharks, we need a look for every occasion nowadays. 426 00:23:31,920 --> 00:23:34,680 Be it an airport look, a gym look 427 00:23:34,800 --> 00:23:36,000 or whether it is a date look. 428 00:23:36,720 --> 00:23:39,000 Then why must we let our sleep look be boring? 429 00:23:39,080 --> 00:23:40,560 That's where we come in. 430 00:23:41,320 --> 00:23:45,120 We sisters intend to make India fashionable with our brand. 431 00:23:45,200 --> 00:23:46,640 MidNight Angels by PC. 432 00:23:46,720 --> 00:23:47,960 [music playing] 433 00:23:48,080 --> 00:23:50,480 MidNight Angels is a loungewear brand 434 00:23:50,560 --> 00:23:52,480 where we make clothes 435 00:23:52,560 --> 00:23:54,440 that you can not only wear at home, 436 00:23:54,520 --> 00:23:56,440 but suppose you're going on a date 437 00:23:56,520 --> 00:23:58,240 or out to dinner with family, 438 00:23:58,360 --> 00:24:00,920 you can even step out in the same clothes. 439 00:24:01,000 --> 00:24:04,000 And trust me, Sharks, no one will know. 440 00:24:04,760 --> 00:24:07,920 We started our business with an investment of Rs. 1500 441 00:24:08,000 --> 00:24:09,360 and with just nightwear. 442 00:24:09,920 --> 00:24:12,240 People loved our designs so much 443 00:24:12,320 --> 00:24:14,960 that our sales in the first two days were a whopping Rs. 80,000. 444 00:24:15,160 --> 00:24:16,600 - Wow! - Wow. 445 00:24:19,400 --> 00:24:20,560 In the first two days! 446 00:24:20,600 --> 00:24:21,560 - Yes. - Yes, ma'am. 447 00:24:21,720 --> 00:24:22,720 Wow. 448 00:24:23,720 --> 00:24:27,360 Today, we stock over 1000 products on our website. 449 00:24:42,600 --> 00:24:44,040 We have one dream. 450 00:24:44,160 --> 00:24:47,760 To make MidNight Angels the world's number one loungewear brand. 451 00:24:48,400 --> 00:24:50,560 To take it from India across the globe. 452 00:24:50,640 --> 00:24:52,760 That's why we've come here today. 453 00:25:03,200 --> 00:25:04,440 to slay in every look 454 00:25:04,480 --> 00:25:06,640 - with MidNight Angels by PC? - By PC. 455 00:25:18,640 --> 00:25:20,200 Welcome to Shark Tank. 456 00:25:20,280 --> 00:25:22,720 You seem to have made a really fun brand. 457 00:25:22,800 --> 00:25:25,840 - Thank you. - Rs. 80,000 sales in two days. 458 00:25:26,120 --> 00:25:29,080 - Yes. - Tell us the story behind this unbelievable number. 459 00:25:29,240 --> 00:25:32,440 Our family was facing a financial crisis a few years ago. 460 00:25:32,520 --> 00:25:34,520 [sentimental music playing] 461 00:25:35,240 --> 00:25:38,400 There came a point when we ran out of money. 462 00:25:38,440 --> 00:25:40,160 Dad had a great business. 463 00:25:40,240 --> 00:25:43,480 But because of GST, we were almost at nothing. 464 00:25:44,760 --> 00:25:47,560 Our dad's business was near Guwahati. 465 00:25:47,680 --> 00:25:48,800 He was in Guwahati. 466 00:25:48,880 --> 00:25:50,920 - Where were you staying at the time? - Gurgaon. 467 00:25:50,960 --> 00:25:53,760 Dad called and said, "We're not getting any orders." 468 00:25:53,840 --> 00:25:55,760 [sentimental music playing] 469 00:25:56,960 --> 00:25:59,680 "I have no money. I don't know how I'll come back." 470 00:26:00,560 --> 00:26:03,480 [sentimental music playing] 471 00:26:03,680 --> 00:26:06,720 So, I told her we needed to do something. 472 00:26:06,800 --> 00:26:08,520 We didn't know what we'd eat the next day. 473 00:26:08,600 --> 00:26:10,200 [sentimental music playing] 474 00:26:11,480 --> 00:26:13,920 She said, "Let's take a risk with a nightdress business." 475 00:26:14,000 --> 00:26:16,480 "It's not a big risk and we have nothing to lose." 476 00:26:18,880 --> 00:26:22,120 We always had the vision of building this brand. 477 00:26:22,200 --> 00:26:24,840 Getting good designs of plus size nightwear and loungewear 478 00:26:24,960 --> 00:26:28,440 was next to impossible to find in the market earlier. 479 00:26:28,760 --> 00:26:31,160 You'd get boring T-shirts and pyjamas. 480 00:26:31,800 --> 00:26:34,200 We identified this gap in the market. 481 00:26:34,280 --> 00:26:36,760 We went to the market and studied a few shops. 482 00:26:36,880 --> 00:26:39,720 We didn't find quirky prints and fabric. 483 00:26:39,840 --> 00:26:43,360 Luckily, we found cool prints at a small shop. 484 00:26:43,480 --> 00:26:45,080 We picked up a few of them 485 00:26:45,160 --> 00:26:48,720 and went to mom's tailor and asked him to make the samples. 486 00:26:49,160 --> 00:26:51,400 She was part of a Facebook group. 487 00:26:51,480 --> 00:26:53,080 Back then, people used to 488 00:26:53,200 --> 00:26:56,040 post pictures of their products and sell them. 489 00:26:56,120 --> 00:26:57,520 They were mostly resellers. 490 00:26:57,600 --> 00:26:59,400 Was it a fashion group? 491 00:26:59,480 --> 00:27:01,560 - Fashion group. It was called Shopwati. - Yes. 492 00:27:01,640 --> 00:27:04,240 The moment the samples arrived, I took photos the next day 493 00:27:04,320 --> 00:27:06,120 and asked her to post them. 494 00:27:06,640 --> 00:27:09,280 You will not believe it. When we posted them, 495 00:27:09,520 --> 00:27:11,480 we had 700 inquiries. 496 00:27:13,480 --> 00:27:14,400 "How much is it for?" 497 00:27:14,480 --> 00:27:17,880 "What is the size chart? We want to buy. Please DM me." 498 00:27:18,160 --> 00:27:21,080 We sat on the sofa and got started. 499 00:27:21,600 --> 00:27:24,240 Our Paytm had a limit of Rs. 20,000 500 00:27:24,280 --> 00:27:25,920 back then which was before KYC started. 501 00:27:26,080 --> 00:27:28,520 One by one, everyone's Paytm got credits. 502 00:27:28,640 --> 00:27:31,720 First mine, then hers, followed by mom's. 503 00:27:32,840 --> 00:27:34,280 And dad's too! 504 00:27:34,360 --> 00:27:36,360 [sentimental music playing] 505 00:27:37,120 --> 00:27:39,040 Dad called her. 506 00:27:39,120 --> 00:27:42,800 "Is someone pulling a prank on me? Where am I getting money from?" 507 00:27:44,920 --> 00:27:46,920 "My Paytm notifications won't stop." 508 00:27:47,000 --> 00:27:48,160 This was all advance payment. 509 00:27:48,240 --> 00:27:50,880 - Yes. Advance. - They were all prepaid orders. 510 00:27:52,120 --> 00:27:52,960 Wow! 511 00:27:53,080 --> 00:27:55,680 "Dad, we have started a nightdress business." 512 00:27:55,760 --> 00:27:57,440 "The money is from those orders." 513 00:27:58,880 --> 00:28:00,960 "Dad, we are saved." 514 00:28:01,040 --> 00:28:03,160 "Don't worry. We have taken charge." 515 00:28:03,240 --> 00:28:04,720 - Wow! - Wow! 516 00:28:04,800 --> 00:28:06,040 From then to now, 517 00:28:06,080 --> 00:28:07,640 there's no looking back for our brand. 518 00:28:07,760 --> 00:28:09,080 Which year was this? 519 00:28:09,280 --> 00:28:11,040 - End of 2017. - Almost 5 years ago. 520 00:28:11,120 --> 00:28:12,360 Is your dad in this business now? 521 00:28:12,440 --> 00:28:15,640 He heads production as he has a vast experience in manufacturing. 522 00:28:15,720 --> 00:28:17,080 What was his earlier business? 523 00:28:17,160 --> 00:28:18,600 Bathroom fittings, sir. 524 00:28:18,920 --> 00:28:21,160 His old business is also running side by side 525 00:28:21,240 --> 00:28:23,320 after we reinvested in it. 526 00:28:23,440 --> 00:28:25,360 - You invested! - Yes. 527 00:28:25,360 --> 00:28:27,720 - Yes. - Wow! Unbelievable! 528 00:28:27,800 --> 00:28:28,720 Wow! 529 00:28:28,800 --> 00:28:32,280 We gave dad funds and asked him to start the business again. 530 00:28:33,400 --> 00:28:34,960 I salute you. Amazing. 531 00:28:35,080 --> 00:28:36,560 - Thank you. - Thank you. 532 00:28:36,680 --> 00:28:38,440 I have two daughters. 533 00:28:38,520 --> 00:28:40,480 They have an 8.5-year age difference. 534 00:28:40,560 --> 00:28:43,880 Sir, the age difference is very helpful. 535 00:28:44,120 --> 00:28:45,880 She's not my sister, but akin to a mother. 536 00:28:45,960 --> 00:28:47,800 I thought it was the other way around. 537 00:28:47,880 --> 00:28:50,600 [unanimous laughter] 538 00:28:50,720 --> 00:28:53,560 - You're a motherly figure! - Seriously. 539 00:28:55,760 --> 00:28:56,960 Are you the CEO? 540 00:28:57,560 --> 00:28:58,840 What a silly question! 541 00:28:58,880 --> 00:29:00,720 [unanimous laughter] 542 00:29:02,000 --> 00:29:04,160 It's written all over her T-shirt! 543 00:29:04,240 --> 00:29:06,440 - Can't you gauge from what she said? - He has a doubt. 544 00:29:10,840 --> 00:29:13,440 What're you wearing is the nightwear. 545 00:29:13,560 --> 00:29:15,280 This is athleisure. 546 00:29:15,360 --> 00:29:16,680 This is the loungewear. 547 00:29:16,800 --> 00:29:20,840 If you team it up with a pyjama, it doubles up as a nightdress. 548 00:29:21,400 --> 00:29:23,400 Our prints are quirky and funky. 549 00:29:23,400 --> 00:29:27,160 You know, you can wear them out to coffee and dinner as well. 550 00:29:27,160 --> 00:29:28,040 Interesting. 551 00:29:28,080 --> 00:29:30,400 Imagine on the lines of what I'm wearing on Shark Tank. 552 00:29:31,240 --> 00:29:32,480 Aman also wants one. 553 00:29:34,520 --> 00:29:37,960 I'm quietly listening to the pitch. Why did you drag me into it? 554 00:29:38,480 --> 00:29:39,760 We have something for everyone. 555 00:29:39,880 --> 00:29:41,240 - Wow. - Wow! 556 00:29:41,480 --> 00:29:42,560 Aman, that's for you. 557 00:29:42,560 --> 00:29:44,680 This is what we have designed for you. Yes. 558 00:29:44,760 --> 00:29:46,520 I love it. Thank you so much. 559 00:29:47,040 --> 00:29:48,640 Anupam, look at this. 560 00:29:48,720 --> 00:29:51,200 - Aw! - The name you gave me. 561 00:29:51,800 --> 00:29:53,600 - This is the airport look, right? - Yes. 562 00:29:53,680 --> 00:29:55,040 Show me what it says, Peyush. 563 00:29:55,120 --> 00:29:57,600 Whoa! That's more like it! 564 00:29:58,720 --> 00:30:00,600 It says I can sell! 565 00:30:00,680 --> 00:30:02,800 Good caption. Very nice. 566 00:30:02,920 --> 00:30:04,080 This is great! 567 00:30:04,120 --> 00:30:06,600 "You're unbelievable!" Nice. 568 00:30:06,680 --> 00:30:09,160 - The quality is good. - It's very soft. 569 00:30:09,240 --> 00:30:10,280 It's a good feeling. 570 00:30:10,320 --> 00:30:11,240 - Yes. - That is the idea, sir. 571 00:30:11,240 --> 00:30:12,880 It has to be so soft to your skin 572 00:30:12,920 --> 00:30:15,240 that you don't feel like taking it off. 573 00:30:15,880 --> 00:30:17,520 What does PC stand for? 574 00:30:17,600 --> 00:30:19,520 - Parina Chugh and Punya Chugh. - Punya Chugh. 575 00:30:19,600 --> 00:30:21,360 I hope Priyanka Chopra doesn't sue you. 576 00:30:21,440 --> 00:30:23,920 Ma'am, we also have a right to PC, not just her alone. 577 00:30:24,560 --> 00:30:27,000 - Yes! Well said. - Yes. 578 00:30:27,280 --> 00:30:29,840 But your logo is MidNight Angels. 579 00:30:29,960 --> 00:30:33,240 - Yes. - It is only going towards nightwear. 580 00:30:33,320 --> 00:30:35,160 [intense music playing] 581 00:30:35,240 --> 00:30:36,120 I get that. 582 00:30:36,200 --> 00:30:39,520 We faced this issue while extending. 583 00:30:39,560 --> 00:30:40,560 There was a small issue, 584 00:30:40,600 --> 00:30:42,680 but one should know how to capture the market, sir. 585 00:30:42,760 --> 00:30:43,800 I understand. 586 00:30:43,840 --> 00:30:47,080 But if you are extending, 587 00:30:47,200 --> 00:30:48,400 you ought to have a holistic logo 588 00:30:48,400 --> 00:30:49,840 which could incorporate other things. 589 00:30:49,920 --> 00:30:53,680 When we started the brand, sir, that was not the goal. 590 00:30:53,720 --> 00:30:55,320 - Survival was the only goal. - Yes. 591 00:30:55,480 --> 00:30:56,000 Okay. 592 00:30:56,000 --> 00:30:58,800 You asked for a valuation of Rs. 12.5 crores. 593 00:30:58,880 --> 00:31:00,800 As you made a sale of Rs. 80,000 in two days, 594 00:31:00,880 --> 00:31:02,400 your sales must be good. 595 00:31:02,480 --> 00:31:05,640 In FY 21-22, we did sales of Rs. 1.80 crores. 596 00:31:05,720 --> 00:31:09,480 - Wonderful! - Wow! 597 00:31:09,560 --> 00:31:11,480 This year, we have already made a sale of Rs. 1 crore to date. 598 00:31:20,880 --> 00:31:23,640 What's your monthly growth in the last three months? 599 00:31:24,080 --> 00:31:26,120 Right now we are testing 600 00:31:26,240 --> 00:31:27,960 and observing the response of COD. 601 00:31:28,080 --> 00:31:30,480 It could be 17, 20 or 19. 602 00:31:30,560 --> 00:31:32,000 If you are earning Rs. 20 lakhs now 603 00:31:32,080 --> 00:31:35,160 and your growth rate has been flat in the last three months, 604 00:31:35,240 --> 00:31:37,280 how will you earn Rs. 4 crores this year? 605 00:31:37,960 --> 00:31:40,280 We just need to increase our promotions, 606 00:31:40,360 --> 00:31:41,840 our marketing 607 00:31:41,960 --> 00:31:44,280 and getting sales of Rs. 30 lakhs to Rs. 50 lakhs 608 00:31:44,360 --> 00:31:46,400 is not a problem with our brand 609 00:31:46,520 --> 00:31:48,680 because our designs are accepted in the market. 610 00:31:48,760 --> 00:31:50,200 How much do you spend on marketing per month? 611 00:31:52,640 --> 00:31:55,600 What are your online sales and offline sales? 612 00:31:55,680 --> 00:31:58,360 It's 100% online on our website. 613 00:32:03,600 --> 00:32:05,400 So now we are on Myntra, Nykaa 614 00:32:05,520 --> 00:32:07,200 and Amazon also. 615 00:32:07,280 --> 00:32:09,480 - You will be profitable, right? - Yes. 616 00:32:09,560 --> 00:32:12,240 Then why do you need funding? 617 00:32:13,040 --> 00:32:15,160 Firstly, we want to increase our inventory. 618 00:32:15,280 --> 00:32:19,080 If we spend on promotion and there is no inventory to supply, 619 00:32:19,160 --> 00:32:21,160 - what's the point? - The orders get cancelled. 620 00:32:21,280 --> 00:32:23,000 Do you need money for inventory? 621 00:32:23,080 --> 00:32:24,720 [suspenseful music] 622 00:32:25,760 --> 00:32:27,520 - Inventory and promotions. - And marketing. 623 00:32:27,600 --> 00:32:29,440 What is your customer acquisition cost? 624 00:32:29,520 --> 00:32:32,040 It falls between Rs. 630 and Rs. 660 depending 625 00:32:32,120 --> 00:32:33,480 - on the money. - Let's assume Rs. 650. 626 00:32:35,640 --> 00:32:36,920 What is your gross margin? 627 00:32:45,200 --> 00:32:48,040 Let me tell you the problem. Even when you get more funds, 628 00:32:48,120 --> 00:32:49,920 you'd get more stock. 629 00:32:50,280 --> 00:32:52,000 Then you'd face the problem 630 00:32:52,080 --> 00:32:54,120 of selling the stocks. 631 00:32:55,720 --> 00:32:57,280 We know how to sell. 632 00:32:57,400 --> 00:32:59,280 Our money won't be wasted. 633 00:32:59,360 --> 00:33:01,000 We know how to liquidise it. 634 00:33:01,080 --> 00:33:03,520 - Sir, that could be the reason we are profitable. - Yes. 635 00:33:03,600 --> 00:33:04,880 - How much profit do you make? - What's your profit? 636 00:33:04,960 --> 00:33:08,760 For the last month, our net profit was 20%. 637 00:33:09,520 --> 00:33:11,120 What is your repeat rate? 638 00:33:11,200 --> 00:33:12,760 The repeat rate is 15%. 639 00:33:12,840 --> 00:33:14,000 It's too less. 640 00:33:15,920 --> 00:33:16,800 Why is it so less? 641 00:33:16,880 --> 00:33:18,440 Sir, we are trying to figure out 642 00:33:18,520 --> 00:33:20,880 what could be done to increase the repeat clientele. 643 00:33:20,960 --> 00:33:24,440 The challenge with the repeat rate is that we may buy 644 00:33:24,560 --> 00:33:26,440 one or two pieces of such designs. 645 00:33:26,520 --> 00:33:27,920 There is a limit to buying such designs. 646 00:33:28,720 --> 00:33:29,920 Correct! 647 00:33:32,480 --> 00:33:34,680 I have made my decision. 648 00:33:34,760 --> 00:33:36,360 [dramatic music] 649 00:33:36,440 --> 00:33:37,960 Punya and Parina, no doubt 650 00:33:38,040 --> 00:33:42,400 your courage and positive attitude are inspiring. 651 00:33:42,720 --> 00:33:45,720 Unfortunately, the problem I find in your business 652 00:33:45,800 --> 00:33:47,200 is that it can easily be copied. 653 00:33:47,280 --> 00:33:48,680 [sweeping music] 654 00:33:48,800 --> 00:33:51,240 So it's difficult to scale it up. 655 00:33:52,640 --> 00:33:53,600 And to be very honest, 656 00:33:53,720 --> 00:33:56,440 I don't have an interest in this area. 657 00:33:56,560 --> 00:33:58,120 - I'm out. - Okay. 658 00:34:10,400 --> 00:34:12,960 People buy a night-suit costing Rs. 500 to Rs. 600 659 00:34:13,080 --> 00:34:15,160 as they don't care about the brand. 660 00:34:15,840 --> 00:34:18,240 - Yes. - The category of people 661 00:34:18,320 --> 00:34:20,920 who wears a night-suit costing Rs. 2,000 to Rs. 2,500 662 00:34:21,000 --> 00:34:22,760 is just 0.01%. 663 00:34:22,840 --> 00:34:24,440 [dramatic music] 664 00:34:24,520 --> 00:34:26,520 So I find this market 665 00:34:26,600 --> 00:34:28,360 a bit scary 666 00:34:28,440 --> 00:34:30,400 from the perspective of competition 667 00:34:30,480 --> 00:34:32,400 from cheap unorganised players. 668 00:34:32,480 --> 00:34:36,120 And I don't have much interest in investing in it right now. 669 00:34:36,200 --> 00:34:38,400 - That's why I'm out. - Okay. 670 00:34:38,480 --> 00:34:40,880 Anupam, let's discuss this. I have an idea. 671 00:34:42,360 --> 00:34:43,920 Your story is touching 672 00:34:44,000 --> 00:34:45,560 and you two are hustlers. 673 00:34:45,640 --> 00:34:46,840 My issue 674 00:34:46,960 --> 00:34:50,600 is regarding your inventory. How will you handle it in future? 675 00:34:50,680 --> 00:34:53,520 - It could lead to profitability issues. - Okay. 676 00:34:53,600 --> 00:34:55,960 Secondly, you don't need an investor 677 00:34:56,040 --> 00:35:00,280 because you'd face investor issues in future. 678 00:35:00,760 --> 00:35:01,840 So I'm out. 679 00:35:01,920 --> 00:35:03,400 [tense music] 680 00:35:04,840 --> 00:35:08,160 If your business doesn't work, what would you do after one year? 681 00:35:09,400 --> 00:35:11,720 Sir, we'll launch new designs on a daily basis. 682 00:35:11,840 --> 00:35:12,720 New patterns too. 683 00:35:12,800 --> 00:35:15,120 You often say that you bet on an entrepreneur. 684 00:35:15,200 --> 00:35:18,800 I can assure you 685 00:35:18,880 --> 00:35:22,440 that I'll surely bring a revolution in this industry. 686 00:35:22,520 --> 00:35:24,120 - Oh, my! - Wow! 687 00:35:25,800 --> 00:35:29,720 - I have an offer for you. - Sure. 688 00:35:30,400 --> 00:35:32,280 'We have a feeling' 689 00:35:32,360 --> 00:35:34,400 that it's difficult to get returns. 690 00:35:35,640 --> 00:35:37,920 So the offer is kind of 691 00:35:38,040 --> 00:35:40,160 - a support to you more than anything else. - Okay. 692 00:35:40,280 --> 00:35:43,640 Also, we want to get our money back only through EBITDA. 693 00:35:43,760 --> 00:35:46,480 - Okay. - Okay? Not necessarily by selling the business 694 00:35:46,560 --> 00:35:49,040 because we don't think it'd become saleable soon. 695 00:35:50,600 --> 00:35:54,720 So we want to give you debt and buy equity too. 696 00:35:55,800 --> 00:35:58,480 Rs. 25 lakhs for 10% equity 697 00:35:58,600 --> 00:36:00,200 to each of us. 698 00:36:00,280 --> 00:36:01,440 [thrilling music] 699 00:36:05,120 --> 00:36:06,800 The rationale is 700 00:36:07,040 --> 00:36:10,240 - that your maximum EBITDA this year will be Rs. 40 lakhs. - Right. 701 00:36:10,320 --> 00:36:12,640 We'll earn 20% which is Rs. 8 lakhs. 702 00:36:12,720 --> 00:36:15,920 - Assuming that we'd get our money back in three years. - Right! 703 00:36:16,000 --> 00:36:18,640 Right? Eight multiplied by three is 24 which is an approximate value. 704 00:36:18,720 --> 00:36:20,480 And Rs. 50 lakhs in debt. 705 00:36:20,560 --> 00:36:23,360 I don't want interest on the debt. 706 00:36:23,440 --> 00:36:25,200 Yes, but a basic 12% interest must be charged. 707 00:36:32,880 --> 00:36:34,720 We have a counteroffer. 708 00:36:34,800 --> 00:36:38,320 Rs. 75 lakhs for 15% equity in our company. 709 00:36:43,160 --> 00:36:45,200 I guarantee you that we'd get returns 710 00:36:45,280 --> 00:36:46,880 and earn returns for you too. 711 00:36:47,000 --> 00:36:49,080 "Trust me and believe me..." 712 00:36:49,120 --> 00:36:51,680 Such phrases don't help in investment or running a business. 713 00:36:52,240 --> 00:36:53,280 Agree. 714 00:36:53,360 --> 00:36:56,200 If you want us to invest Rs. 75 lakhs 715 00:36:56,280 --> 00:36:59,200 for 15% equity, it isn't okay with me. 716 00:37:00,120 --> 00:37:01,720 The gap is too wide 717 00:37:01,800 --> 00:37:03,160 and I can't bridge the gap. 718 00:37:04,200 --> 00:37:07,160 I don't doubt that you will make a successful business. 719 00:37:09,000 --> 00:37:10,760 At your current stage, 720 00:37:10,840 --> 00:37:14,000 - investing Rs. 75 lakhs in exchange for equity... - Right. 721 00:37:14,120 --> 00:37:16,240 Equity of 15%. I calculated it and showed it to you. 722 00:37:16,360 --> 00:37:18,360 You may make any future cash flow. 723 00:37:18,440 --> 00:37:20,360 If you can return Rs. 75 lakhs to me within three years, 724 00:37:20,480 --> 00:37:22,720 - I'll give you Rs. 75 lakhs for 15% equity. - Okay. 725 00:37:22,800 --> 00:37:26,160 So the bottom line is they don't accept your counteroffer. 726 00:37:28,360 --> 00:37:29,920 Please tell us your decision. 727 00:37:30,000 --> 00:37:32,360 [suspenseful music] 728 00:37:34,040 --> 00:37:37,520 - Uh, so we can't accept it. - We are so sorry. 729 00:37:37,600 --> 00:37:38,520 I understand. 730 00:37:38,640 --> 00:37:40,600 You said a powerful line. 731 00:37:40,680 --> 00:37:43,480 "We had nothing to lose so we forged ahead." 732 00:37:43,560 --> 00:37:46,760 - Good luck! - And we will try to take the seat you are seated in. 733 00:37:46,840 --> 00:37:49,040 - Just because we are standing... - Thank you so much! 734 00:37:49,120 --> 00:37:51,680 - Thank you! - Thank you! 735 00:40:46,840 --> 00:40:49,200 [inspirational music] 736 00:41:07,920 --> 00:41:10,280 Can you read these pictures? 737 00:41:10,360 --> 00:41:11,560 - Yes! - Yes. 738 00:41:12,600 --> 00:41:13,840 And now? 739 00:41:14,560 --> 00:41:16,880 - It's a bit difficult, right? - Yes! 740 00:41:18,400 --> 00:41:19,520 It's blurred. 741 00:41:19,600 --> 00:41:23,600 What if you have to live with blurred vision for a lifetime? 742 00:41:24,640 --> 00:41:25,680 We'd face difficulty. 743 00:41:25,960 --> 00:41:28,600 More than 30 crore people around the world 744 00:41:36,080 --> 00:41:38,360 where a person has blurry vision even if they wear glasses. 745 00:41:39,800 --> 00:41:42,280 My brother is one of those 30 crore people 746 00:41:42,360 --> 00:41:43,920 who suffered from amblyopia. 747 00:41:44,000 --> 00:41:47,040 We consulted numerous doctors for his treatment 748 00:41:47,120 --> 00:41:49,480 but none had a solution. 749 00:41:49,560 --> 00:41:52,920 They could only give an eyepatch. 750 00:41:53,480 --> 00:41:55,560 - Oh! - Oh, my! 751 00:41:55,800 --> 00:41:58,720 But it isn't a treatment. 752 00:41:58,800 --> 00:42:00,640 I was studying optometry around that time 753 00:42:05,200 --> 00:42:07,280 So I conceptualised CureSee along with my three friends. 754 00:42:07,360 --> 00:42:09,000 [upbeat music] 755 00:42:09,320 --> 00:42:11,880 - I'm Puneet. - I'm Jatin Kaushik. 756 00:42:18,280 --> 00:42:19,960 vision therapy website. 757 00:42:30,560 --> 00:42:32,200 The second is squint-eye. 758 00:42:32,520 --> 00:42:34,120 It means a diagonal vision. 759 00:42:41,480 --> 00:42:45,160 You don't have to do much to solve these three problems. 760 00:42:45,240 --> 00:42:47,920 Just visit our website sitting at your home 761 00:42:48,000 --> 00:42:50,520 and get free eye screening. 762 00:43:06,120 --> 00:43:08,000 in different research. 763 00:43:08,120 --> 00:43:11,880 It's awarded and supported by the Government of India. 764 00:43:15,520 --> 00:43:18,480 more than 2,500 patients till now. 765 00:43:18,560 --> 00:43:21,200 We can also say that we have given them a renewed vision. 766 00:43:22,320 --> 00:43:24,920 We want to make CureSee available 767 00:43:25,000 --> 00:43:27,120 to every patient around the world with your help 768 00:43:27,200 --> 00:43:29,760 and increase its awareness. 769 00:43:29,840 --> 00:43:32,320 So, Sharks, we are here to ask 770 00:43:32,400 --> 00:43:33,920 for Rs. 40 lakhs investment 771 00:43:34,000 --> 00:43:36,640 in exchange for 5% equity in our company. 772 00:43:42,960 --> 00:43:44,480 - Hi, sir! - Thank you! Hi, sir! 773 00:43:44,560 --> 00:43:47,400 You three share a story of childhood friendship. 774 00:43:51,360 --> 00:43:52,480 [sweeping music] 775 00:43:52,600 --> 00:43:54,800 Jatin and I are school friends. 776 00:43:55,960 --> 00:43:57,240 And he is our industry-friend. 777 00:43:57,320 --> 00:43:59,520 When I was pursuing my optometric career, 778 00:43:59,600 --> 00:44:02,120 I met Amit and came to know 779 00:44:02,200 --> 00:44:04,560 that we can make an impact in this field. 780 00:44:05,560 --> 00:44:06,960 So you are a doctor. 781 00:44:07,040 --> 00:44:08,880 - Optometrist. - An optometrist. 782 00:44:08,960 --> 00:44:10,160 A doctor can do surgery 783 00:44:10,280 --> 00:44:12,560 but an optometrist can do eye testing and diagnostics. 784 00:44:12,760 --> 00:44:14,000 Okay. 785 00:44:14,080 --> 00:44:16,200 Jatin's brother had this problem. 786 00:44:16,320 --> 00:44:17,840 Jatin told Puneet about this problem 787 00:44:17,960 --> 00:44:20,640 and Puneet asked me about the current treatments for this. 788 00:44:20,720 --> 00:44:23,360 I told him that we have some old modules. 789 00:44:23,440 --> 00:44:26,480 The problem in it was that the patient 790 00:44:26,560 --> 00:44:30,440 had to frequent their practitioner or the eye hospital 791 00:44:30,560 --> 00:44:32,360 and take therapy daily. 792 00:44:32,440 --> 00:44:35,640 During Covid, it was impossible to go to the hospital every day 793 00:44:35,720 --> 00:44:38,600 so we decided to revalorise it and digitalise it 794 00:44:38,720 --> 00:44:41,080 so that patients could benefit within the confines of their homes. 795 00:44:41,880 --> 00:44:44,880 You mentioned the Covid period. Did you launch it recently? 796 00:44:44,960 --> 00:44:47,640 We launched it on September 2019. 797 00:44:48,160 --> 00:44:50,360 We innovated continuously 798 00:44:50,440 --> 00:44:53,840 and utilised the Covid period to introduce our second version. 799 00:44:53,960 --> 00:44:55,640 It has made us a worldwide 800 00:44:55,720 --> 00:44:59,240 advanced vision therapy software with the highest efficacy. 801 00:44:59,680 --> 00:45:01,560 How do you claim efficacy? 802 00:45:02,360 --> 00:45:04,240 Sir, our research is published 803 00:45:04,320 --> 00:45:07,080 and two of them are undergoing AIIMS approval 804 00:45:07,160 --> 00:45:09,120 which is a premier institution in India. 805 00:45:09,200 --> 00:45:10,800 [thrilling music] 806 00:45:10,920 --> 00:45:14,440 They found very good results and they'll soon be published. 807 00:45:16,880 --> 00:45:18,320 - I think it'd be easier. - Sir, shall I invite you? 808 00:45:19,120 --> 00:45:21,560 - Yes. You have enough knowledge. - He'll ask too many questions. 809 00:45:21,640 --> 00:45:22,680 You are inviting the wrong person. 810 00:45:22,760 --> 00:45:24,000 No. How could I be the wrong person? 811 00:45:24,200 --> 00:45:25,040 I have some knowledge. 812 00:45:25,120 --> 00:45:28,280 I know that once he approves, everyone else will approve it. 813 00:45:28,400 --> 00:45:30,480 [laughing] 814 00:45:33,160 --> 00:45:35,320 - Are these glasses meant for exercising? - Yes, sir. 815 00:45:35,400 --> 00:45:37,200 Peyush is looking like Karamchand. 816 00:45:38,040 --> 00:45:39,080 "Karamchand!" 817 00:45:39,160 --> 00:45:41,000 No! He's looking like the character from The Matrix. 818 00:45:43,000 --> 00:45:44,360 [upbeat music] 819 00:45:44,440 --> 00:45:47,000 The glasses we use during therapy 820 00:45:47,080 --> 00:45:48,760 are called anaglyph glasses 821 00:45:48,840 --> 00:45:51,440 which have red and blue lenses. 822 00:45:51,760 --> 00:45:55,840 It'll show different images to both eyes 823 00:45:55,920 --> 00:45:58,560 - to give separate stimuli. - Alright. 824 00:45:58,640 --> 00:46:00,880 Peyush, I request you 825 00:46:00,960 --> 00:46:02,680 to click on a random obstacle. 826 00:46:02,800 --> 00:46:04,840 [thrilling music] 827 00:46:04,920 --> 00:46:08,440 We have to avoid the obstacles shown in red and blue colours. 828 00:46:08,520 --> 00:46:11,760 You can bounce the ball with the space button. 829 00:46:13,960 --> 00:46:17,800 The obstacles he fails to jump are being recorded 830 00:46:17,880 --> 00:46:20,040 and a report will be generated at the end of the exercise 831 00:46:20,120 --> 00:46:22,760 which will tell us how efficiently he performed. 832 00:46:22,840 --> 00:46:26,400 Now we'll do a binocular exercise done by both eyes 833 00:46:26,480 --> 00:46:29,280 but we don't need these glasses. 834 00:46:29,360 --> 00:46:32,240 What you see on the screen are called GABA patches. 835 00:46:32,360 --> 00:46:35,520 We have to align three similar patterns together. 836 00:46:35,600 --> 00:46:38,600 It stimulates our visual cortical neurons 837 00:46:38,680 --> 00:46:40,760 directly. 838 00:46:41,000 --> 00:46:42,400 It's colour-vision testing. 839 00:46:42,480 --> 00:46:44,680 We have to select the numbers 840 00:46:44,760 --> 00:46:47,160 shown and enter them. 841 00:46:47,240 --> 00:46:49,880 So we have to play these games daily for one hour. Right? 842 00:46:49,960 --> 00:46:52,520 AI will select six different games 843 00:46:52,600 --> 00:46:54,760 daily and give them to you 844 00:46:54,840 --> 00:46:56,320 so that the patient doesn't get bored. 845 00:46:56,440 --> 00:46:57,960 If they perform well, 846 00:46:58,080 --> 00:47:00,280 the AI increases the difficulty level. 847 00:47:01,560 --> 00:47:03,600 [inspirational music] 848 00:47:03,880 --> 00:47:05,880 You can see two colours, red and blue. 849 00:47:06,000 --> 00:47:09,000 We'll use red and blue glasses 850 00:47:09,080 --> 00:47:12,320 and set them to the dimmest level 851 00:47:12,400 --> 00:47:14,560 so that we can barely see them. 852 00:47:14,640 --> 00:47:18,200 When they become visible, we don't increase it further 853 00:47:18,280 --> 00:47:20,360 and we can start the test. 854 00:47:21,520 --> 00:47:24,280 We can see two different colours now 855 00:47:24,360 --> 00:47:25,960 and we will measure the visual acuity. 856 00:47:26,040 --> 00:47:29,160 It means we are measuring the right and left eye separately. 857 00:47:37,720 --> 00:47:38,960 after wearing glasses. 858 00:47:39,040 --> 00:47:41,640 We got the point. Have we met before? 859 00:47:41,880 --> 00:47:43,160 - Yes, sir. - I think we have met once. 860 00:48:07,640 --> 00:48:10,360 Suppose a person suffers from a squint eye 861 00:48:10,440 --> 00:48:12,960 and they are 35 years old. 862 00:48:13,040 --> 00:48:16,800 He has only two options. Either he will undergo surgery or exercise. 863 00:48:17,240 --> 00:48:18,800 What is the probability 864 00:48:18,880 --> 00:48:22,400 that his squint will be treated by this exercise? And in how many days? 865 00:48:22,480 --> 00:48:24,400 To what extent can it treat the squint? 866 00:48:25,080 --> 00:48:28,720 If they have squint and amblyopia or if it is because of amblyopia, 867 00:48:28,800 --> 00:48:31,840 we can help recover the squint fully. 868 00:48:33,000 --> 00:48:35,840 In case it's only because of a muscle disorder, 869 00:48:35,920 --> 00:48:38,680 surgery is a better option. 870 00:48:39,240 --> 00:48:42,600 You said that you sold this application to just 2,500 people. 871 00:48:42,800 --> 00:48:44,200 Is it really a business? 872 00:48:47,360 --> 00:48:50,120 We charge between Rs. 12,000 to Rs. 18,000 873 00:48:58,800 --> 00:49:02,040 The last month's revenue was Rs. 2.64 lakhs. 874 00:49:02,560 --> 00:49:05,600 Sir, we launched B2C around 15 August 875 00:49:05,720 --> 00:49:07,800 as we received many queries 876 00:49:07,880 --> 00:49:11,080 from Gulf countries because they wanted to get enrolled. 877 00:49:11,160 --> 00:49:14,760 So we decided to introduce a B2C model 878 00:49:14,840 --> 00:49:17,200 that could easily be availed by international patients. 879 00:49:17,280 --> 00:49:18,800 And you'll earn more money. 880 00:49:19,720 --> 00:49:23,120 If it's a technologically advanced product, 881 00:49:23,200 --> 00:49:26,280 why didn't a VC or a strategic investor 882 00:49:26,360 --> 00:49:29,040 invest in your business? 883 00:49:29,120 --> 00:49:31,080 Ma'am, we don't just want an investor. 884 00:49:31,200 --> 00:49:34,120 We want to collaborate with people who have a vision. 885 00:49:34,200 --> 00:49:35,640 Yes! [laughing] 886 00:49:37,440 --> 00:49:39,640 That's an apt statement. 887 00:49:39,760 --> 00:49:41,600 Please give me the details. 888 00:49:41,680 --> 00:49:44,280 - You said you have a revenue of Rs. 2.64 lakhs. - Yes, sir. 889 00:49:44,360 --> 00:49:46,760 Please give a breakup. Is it a per-month revenue? 890 00:49:46,840 --> 00:49:48,200 - It's per month revenue. - It's per month. 891 00:49:48,280 --> 00:49:51,360 - So you charge Rs. 18,000 for six months. - Yes. 892 00:49:51,480 --> 00:49:53,400 How much do you give to the doctor? 893 00:49:53,520 --> 00:49:56,120 Sir, we charge Rs. 18,000 from the doctors. 894 00:49:56,200 --> 00:49:59,800 We don't impose a cap on the doctors so the doctors have 895 00:49:59,880 --> 00:50:02,440 a markup as per their practice. It depends on the hospital. 896 00:50:02,520 --> 00:50:05,560 How many patients are using your service as of today? 897 00:50:05,640 --> 00:50:10,400 Sir, there must be 310 patients who are using this therapy right now. 898 00:50:11,040 --> 00:50:13,280 Actually, Puneet, Amit and Jatin, 899 00:50:13,360 --> 00:50:17,480 I think you need networks more than vision. 900 00:50:17,600 --> 00:50:20,000 [tense music] 901 00:50:20,240 --> 00:50:22,240 In the sense, me, 902 00:50:22,360 --> 00:50:25,960 as I have a lot of hospital and doctor connections. 903 00:50:26,680 --> 00:50:28,920 [intense music playing] 904 00:50:29,120 --> 00:50:30,560 That's where the profits lie. 905 00:50:32,600 --> 00:50:35,720 Namita, also tell them how you will help them. 906 00:50:35,800 --> 00:50:38,320 Let me tell you how I will help you. 907 00:50:39,360 --> 00:50:41,440 We have representatives. 908 00:50:41,520 --> 00:50:46,040 We have a tremendous network of doctors and hospitals. 909 00:50:46,120 --> 00:50:47,920 They will help you 910 00:50:48,000 --> 00:50:49,840 in terms of getting customers. 911 00:50:49,960 --> 00:50:54,120 Emcure has done significant work in awareness and diagnosis. 912 00:50:54,200 --> 00:50:58,080 So, integrating you will be very easy for me. 913 00:51:00,200 --> 00:51:02,080 The only thing is you are pre-revenue. 914 00:51:02,640 --> 00:51:03,640 It's risky. 915 00:51:03,960 --> 00:51:07,800 So, my offer is Rs. 40 lakhs but for 10% equity. 916 00:51:17,920 --> 00:51:19,960 - I can help more than her. - Oh! 917 00:51:21,440 --> 00:51:23,080 - I'm just kidding. - [unanimous laughter] 918 00:51:23,160 --> 00:51:24,480 I wondered how! 919 00:51:24,760 --> 00:51:26,880 - How? - Let me make this easier. 920 00:51:26,920 --> 00:51:29,280 I am out because this is not my expertise. 921 00:51:30,440 --> 00:51:31,640 All the best, guys. 922 00:51:32,240 --> 00:51:34,240 Great job on the product. 923 00:51:34,280 --> 00:51:35,600 You're creating a product 924 00:51:35,600 --> 00:51:38,720 that will address 30 crore people globally from India. 925 00:51:38,840 --> 00:51:40,920 Hats off to all of you. Best of luck with your mission. 926 00:51:41,000 --> 00:51:43,720 I think Namita is a great partner. I am out for now. 927 00:51:44,920 --> 00:51:48,640 The model you're following, on which Namita will help you, 928 00:51:48,760 --> 00:51:52,840 will not create the desired impact as you wanted for your brother. 929 00:51:54,160 --> 00:51:55,040 Why not? 930 00:51:55,120 --> 00:51:57,160 How many people can afford it? 931 00:51:57,240 --> 00:51:58,560 Even if a doctor takes zero fees, 932 00:51:58,600 --> 00:52:01,320 how many people with this problem can pay Rs. 18,000 for 6 months? 933 00:52:02,880 --> 00:52:07,040 As far as I know, doctors are charging Rs. 10,000 to 15,000. 934 00:52:07,160 --> 00:52:09,920 Let me tell you about an incident. 935 00:52:10,040 --> 00:52:12,920 There is an employee in my office 936 00:52:13,320 --> 00:52:14,960 whose son suffers from this problem. 937 00:52:15,200 --> 00:52:18,400 She came to me and told me that she tried your solution 938 00:52:18,560 --> 00:52:19,840 and it helped her son. 939 00:52:19,920 --> 00:52:21,120 I have a testimony. 940 00:52:21,240 --> 00:52:23,080 - Thank you. - I asked her about the fees. 941 00:52:23,200 --> 00:52:25,640 She told me the amount. It was quite high. 942 00:52:25,720 --> 00:52:27,720 Only for the cause, 943 00:52:27,800 --> 00:52:30,000 and because you've been pursuing it for 4 years. 944 00:52:30,040 --> 00:52:32,600 There's also an omen. 945 00:52:32,800 --> 00:52:34,960 I've heard of you before. 946 00:52:35,120 --> 00:52:36,680 The employee in my office mentioned you. 947 00:52:36,720 --> 00:52:38,080 And by chance, you're here. 948 00:52:38,120 --> 00:52:41,040 I didn't recommend you for Shark Tank. 949 00:52:41,240 --> 00:52:42,680 We can do something together. 950 00:52:42,760 --> 00:52:45,280 - God's plan. - Why didn't you, when they came to your office? 951 00:52:46,320 --> 00:52:48,720 They didn't come to me for a meeting. 952 00:52:48,840 --> 00:52:51,680 They might've met my cofounder Amit, something must have happened. 953 00:52:51,760 --> 00:52:53,120 You know, it is one of those things. 954 00:52:53,200 --> 00:52:56,120 It didn't catch the attention then, but it did today. 955 00:52:56,280 --> 00:52:58,280 Why didn't it catch your attention? 956 00:52:59,240 --> 00:53:03,400 It's because I don't believe in the model you have in mind for them. 957 00:53:03,600 --> 00:53:05,320 [intense music playing] 958 00:53:05,920 --> 00:53:07,440 That's just the beginning. 959 00:53:07,640 --> 00:53:10,000 No, it's not a beginning. It is a choice. 960 00:53:10,080 --> 00:53:11,800 [intense music playing] 961 00:53:12,000 --> 00:53:15,520 First, make money through B2B and then move on to B2C. 962 00:53:16,880 --> 00:53:18,560 No, listen to me. 963 00:53:18,640 --> 00:53:20,800 I follow a simple philosophy. 964 00:53:20,880 --> 00:53:22,760 I want to solve problems at the core. 965 00:53:22,840 --> 00:53:24,040 Also, work on the foundation 966 00:53:24,080 --> 00:53:26,080 even if we have to give her a fee for it. 967 00:53:27,200 --> 00:53:32,200 My goal would be to increase awareness on Lenskart's website. 968 00:53:33,280 --> 00:53:35,400 And launch it at a very affordable price. 969 00:53:35,520 --> 00:53:38,840 Maybe Rs. 500 a month or Rs. 200 a month. 970 00:53:39,760 --> 00:53:41,280 They're not letting me speak. 971 00:53:41,360 --> 00:53:42,880 I'll make you an offer. 972 00:53:43,000 --> 00:53:45,560 But you'll have to choose. I won't do a co-deal. 973 00:53:48,400 --> 00:53:49,960 I won't do a co-deal either. 974 00:53:50,040 --> 00:53:51,720 [intense music playing] 975 00:53:53,640 --> 00:53:55,320 Not interested. 976 00:53:55,960 --> 00:53:57,720 Let the fun begin! 977 00:53:58,520 --> 00:54:00,120 I offer you Rs. 1 crore 978 00:54:07,200 --> 00:54:08,760 - Same valuation as yours. - Oh! 979 00:54:08,880 --> 00:54:11,400 If you want Rs. 40 lakhs for 10% equity, it's up to you. 980 00:54:14,960 --> 00:54:17,280 I wish to tell you 981 00:54:17,360 --> 00:54:19,120 that my vision is similar to his. 982 00:54:19,200 --> 00:54:20,680 [laughs] 983 00:54:21,600 --> 00:54:25,720 I have the expertise to run the gamut of healthcare. 984 00:54:25,840 --> 00:54:27,400 I have the expertise too. 985 00:54:27,520 --> 00:54:29,280 [intense music playing] 986 00:54:31,200 --> 00:54:34,440 I have been doing this in every therapeutic area. 987 00:54:34,720 --> 00:54:37,280 - Patient database... - I disagree. 988 00:54:37,360 --> 00:54:39,360 [intense music playing] 989 00:54:41,360 --> 00:54:42,160 Listen! 990 00:54:42,280 --> 00:54:43,880 Their offer... 991 00:54:44,000 --> 00:54:46,480 By the way, you shouldn't dilute 25%! 992 00:54:46,560 --> 00:54:47,440 I disagree. 993 00:54:50,360 --> 00:54:51,800 [intense music playing] 994 00:54:52,080 --> 00:54:53,640 - Listen, they both... - Let Anupam speak. 995 00:54:53,640 --> 00:54:55,400 After listening to their offers, 996 00:54:55,520 --> 00:54:57,640 I, too, am feeling the excitement. 997 00:54:57,760 --> 00:54:59,840 I find this category very exciting. 998 00:54:59,960 --> 00:55:01,840 [tense music playing] 999 00:55:02,200 --> 00:55:04,680 - Third offer. - Let me tell you the problem. 1000 00:55:05,000 --> 00:55:06,600 You didn't respect me. 1001 00:55:07,320 --> 00:55:09,040 I've been sitting here like an ape 1002 00:55:09,160 --> 00:55:10,760 trying to speak. 1003 00:55:10,840 --> 00:55:11,840 No one lets me speak. 1004 00:55:11,880 --> 00:55:14,200 Either she won't or he won't. 1005 00:55:14,320 --> 00:55:16,200 They are pouncing on you. 1006 00:55:17,280 --> 00:55:18,800 But I won't let that happen. 1007 00:55:18,880 --> 00:55:20,080 Oh, God! 1008 00:55:21,040 --> 00:55:22,120 I think 1009 00:55:22,400 --> 00:55:24,600 out of the five of us, they are the best ones 1010 00:55:24,680 --> 00:55:26,000 to give you the required support. 1011 00:55:26,080 --> 00:55:27,440 That's why I am out. 1012 00:55:27,520 --> 00:55:29,320 I think it's a tough decision. 1013 00:55:29,640 --> 00:55:32,120 But either way, you will make the right choice. Good luck. 1014 00:55:33,040 --> 00:55:34,880 Let me make you another offer. 1015 00:55:36,920 --> 00:55:40,000 I offer you Rs. 40 lakhs for 7.5% equity. 1016 00:55:46,880 --> 00:55:48,520 I won't get into a war with her. 1017 00:55:50,360 --> 00:55:52,160 My offer is very clear. 1018 00:55:52,320 --> 00:55:54,040 How about Rs. 40 lakhs at 10%? 1019 00:55:54,120 --> 00:55:56,800 You know the value-add that Lenskart brings. 1020 00:55:57,760 --> 00:55:59,800 It's your choice. I'm not looking for profits. 1021 00:55:59,880 --> 00:56:01,120 I just want you to get help. 1022 00:56:03,360 --> 00:56:04,520 Do you know what I see? 1023 00:56:04,600 --> 00:56:06,560 I see Amar and Prem from the movie 'Andaz Apna Apna'. 1024 00:56:06,640 --> 00:56:08,000 And you're Raveena and Karisma. 1025 00:56:09,200 --> 00:56:11,400 [giggles] 1026 00:56:11,520 --> 00:56:13,920 Amar and Prem are fighting over them! 1027 00:56:14,000 --> 00:56:15,640 [laughs] 1028 00:56:18,000 --> 00:56:19,200 "I am a fake and you are also a fake!" 1029 00:56:19,320 --> 00:56:21,680 That's not the case. They're for real. 1030 00:56:22,880 --> 00:56:25,760 Make your final decision. The wait is over. 1031 00:56:25,840 --> 00:56:28,120 Listen, do what's best for you. 1032 00:56:28,240 --> 00:56:30,880 Could you match her offer of Rs. 40 lakhs for 7.5%, please? 1033 00:56:41,000 --> 00:56:42,720 If that is what you believe, 1034 00:56:42,800 --> 00:56:45,000 then 2.5% shouldn't matter to you. 1035 00:56:45,080 --> 00:56:46,200 No, it will. 1036 00:56:47,560 --> 00:56:51,320 Sir, we've built it from scratch. So, 2.5% does matter. 1037 00:56:51,400 --> 00:56:53,800 I'll offer you Rs. 40 lakhs for 5%. 1038 00:57:00,440 --> 00:57:03,560 I'll offer you Rs. 50 lakhs for 10%. Is that okay? 1039 00:57:07,920 --> 00:57:10,000 whereas mine is Rs. 8 crores. Think about it. 1040 00:57:10,120 --> 00:57:12,400 [intense music playing] 1041 00:57:13,640 --> 00:57:16,760 - I'm giving you 60% more valuation. - One! Two! Three! 1042 00:57:16,840 --> 00:57:19,080 - Five seconds, make a decision. - 60% more valuation. 1043 00:57:19,200 --> 00:57:20,120 Five seconds. 1044 00:57:20,200 --> 00:57:21,960 [intense music playing] 1045 00:57:25,600 --> 00:57:27,120 Sharks, we have made our decision. 1046 00:57:27,480 --> 00:57:29,280 [suspenseful music playing] 1047 00:57:29,440 --> 00:57:32,160 We're associated with the same vision as Peyush. 1048 00:57:32,240 --> 00:57:33,800 So, we'd like to go with him. 1049 00:57:33,920 --> 00:57:35,120 - Oh! - Which deal? 1050 00:57:35,240 --> 00:57:36,320 Finally made a good decision. 1051 00:57:43,160 --> 00:57:45,360 - That you got the deal. - It's that you got the deal. 1052 00:57:45,440 --> 00:57:47,360 - India got a deal. Congratulations! - Yes. 1053 00:57:47,480 --> 00:57:48,720 It's a great deal. 1054 00:57:48,800 --> 00:57:52,000 Your conviction that you picked the offer 1055 00:57:52,080 --> 00:57:55,080 that helps more patients over better valuation... 1056 00:57:55,200 --> 00:57:56,000 Hats off! 1057 00:57:56,080 --> 00:57:58,280 - You guys are incredible. - Listen, Peyush is my friend. 1058 00:57:58,360 --> 00:58:01,280 - I'll help all of you with networks regardless. - Thanks, Namita. 1059 00:58:01,320 --> 00:58:02,240 That would be lovely, ma'am. 1060 00:58:02,280 --> 00:58:03,720 - That would be lovely. - I will. 1061 00:58:03,760 --> 00:58:06,160 We need to work very hard. 1062 00:58:06,560 --> 00:58:08,560 And I'll be there to help you. 1063 00:58:08,640 --> 00:58:09,840 Good job, guys. 1064 00:59:45,480 --> 00:59:47,280 [bubbles rising] 1065 00:59:47,360 --> 00:59:48,640 'Today's Shark Xperience 1066 00:59:48,680 --> 00:59:50,880 'features Rakhi's question from Solapur.' 1067 00:59:50,920 --> 00:59:52,840 'Vineeta, as we know,' 1068 00:59:52,920 --> 00:59:55,840 'only 2 businesses out of 10 become successful.' 1069 00:59:55,920 --> 00:59:58,200 'What becomes of the remaining 8?' 1070 00:59:58,280 --> 01:00:02,080 I believe that out of 10, only 1 business makes it big. 1071 01:00:02,160 --> 01:00:04,320 And 3 to 4 businesses 1072 01:00:04,400 --> 01:00:07,320 run like a profitable and sustainable lifestyle business 1073 01:00:07,360 --> 01:00:08,760 for years together. 1074 01:00:08,840 --> 01:00:11,280 The remaining 5 to 6 entrepreneurs