1 00:00:31,480 --> 00:00:33,960 [theme music playing] 2 00:00:46,600 --> 00:00:49,160 [theme music continues] 3 00:00:59,480 --> 00:01:01,240 [theme music fades] 4 00:01:01,600 --> 00:01:04,360 Today, everything is available in an instant and just a click. 5 00:01:04,520 --> 00:01:07,480 You can get electronic appliances within a day. 6 00:01:07,640 --> 00:01:10,080 Food gets delivered within 20 minutes. 7 00:01:10,240 --> 00:01:12,400 Groceries are available within 10 minutes. 8 00:01:12,520 --> 00:01:16,000 Moreover, you can get a life partner nowadays with just a swipe! 9 00:01:16,800 --> 00:01:20,840 But when it comes to emergency response services, then... 10 00:01:21,080 --> 00:01:22,280 'Please stay on the call.' 11 00:01:22,320 --> 00:01:24,600 'Our representative will attend to you shortly.' 12 00:01:24,880 --> 00:01:27,040 'The number you're calling is currently busy.' 13 00:01:27,160 --> 00:01:28,960 'Please try again after some time.' 14 00:01:29,040 --> 00:01:30,680 - True. - [disconnect tone plays] 15 00:01:30,840 --> 00:01:33,080 Have any of you ever lost a loved one 16 00:01:33,160 --> 00:01:34,680 or a family member 17 00:01:34,800 --> 00:01:37,200 because of not receiving medical help on time? 18 00:01:37,320 --> 00:01:40,040 I hope not, but I have. 19 00:01:40,160 --> 00:01:42,400 [sentimental music playing] 20 00:01:44,080 --> 00:01:47,480 Even today, 30% of people in the country lose their lives 21 00:01:47,560 --> 00:01:49,760 because they don't get an ambulance on time. 22 00:01:49,840 --> 00:01:52,040 Moreover, I say with a heavy heart, 23 00:01:52,120 --> 00:01:55,040 that the present scenario of ambulance services in our country 24 00:01:55,120 --> 00:01:56,960 is disorderly, unresponsive, 25 00:01:57,040 --> 00:01:59,200 unavailable as well as unreliable. 26 00:01:59,400 --> 00:02:03,520 And MeduLance is a small endeavour to solve these problems. 27 00:02:04,280 --> 00:02:05,920 [phone rings] 28 00:02:06,120 --> 00:02:07,480 Hello, this is MeduLance. 29 00:02:07,600 --> 00:02:10,480 Ma'am, can you please tell me your pick-up location? 30 00:02:10,680 --> 00:02:13,120 Ma'am, what is your drop location? 31 00:02:14,440 --> 00:02:17,560 Ma'am, the ambulance will reach you in five minutes. Don't worry. 32 00:03:20,720 --> 00:03:22,120 so that nobody loses their life 33 00:03:22,200 --> 00:03:25,400 due to not getting an ambulance on time. 34 00:03:25,680 --> 00:03:27,680 Greetings, Sharks. My name is Pranav Bajaj. 35 00:03:33,640 --> 00:03:35,640 Sharks, today, we are looking at raising 36 00:03:45,960 --> 00:03:48,400 - Yes! After hearing your valuation! - After hearing that valuation. 37 00:03:48,480 --> 00:03:50,080 [laughs] 38 00:03:50,160 --> 00:03:51,640 No, sir. We will cure you. 39 00:03:51,720 --> 00:03:52,880 [chuckles] 40 00:03:56,320 --> 00:03:58,240 Welcome to Shark Tank season 2. 41 00:03:58,360 --> 00:03:59,880 - You are Pranav. - Yes. 42 00:03:59,920 --> 00:04:01,960 - And you are Ravjot Arora, right? - Yes. 43 00:04:06,280 --> 00:04:07,240 - Thank you. - This is a great service. 44 00:04:07,320 --> 00:04:11,200 - What a noble cause you're pursuing at such a young age. - Thank you. 45 00:04:11,320 --> 00:04:12,800 Tell me your story. 46 00:04:12,920 --> 00:04:15,720 How did you meet and what were you doing before this? 47 00:04:15,800 --> 00:04:18,400 Sir, we started in 2017. 48 00:04:18,480 --> 00:04:22,400 Ravjot and I met through a common friend. 49 00:04:22,480 --> 00:04:25,800 I started my career very early 50 00:04:25,840 --> 00:04:28,600 at a start-up called Zomato back in 2012. 51 00:04:28,680 --> 00:04:30,640 - [chuckles] Sorry. - So... 52 00:04:31,200 --> 00:04:33,000 I found it funny the way you put it across. 53 00:04:33,080 --> 00:04:35,320 - "A start-up called Zomato." - Back then it was a start-up. 54 00:04:35,400 --> 00:04:37,320 So, I said that because when I joined, 55 00:04:37,400 --> 00:04:41,400 I found the culture of a start-up when I joined in 2012, right? 56 00:04:41,640 --> 00:04:44,160 I was bitten by the entrepreneurship bug ever since. 57 00:04:44,240 --> 00:04:46,080 At that time, we saw 58 00:04:46,160 --> 00:04:48,520 that platforms like Ola and Uber had also been launched. 59 00:04:48,600 --> 00:04:51,160 They'd taken advantage of something as simple as geolocation 60 00:04:51,280 --> 00:04:53,120 to provide people with faster cabs. 61 00:04:53,200 --> 00:04:55,400 We thought we, too, could provide a better response time 62 00:04:55,400 --> 00:04:57,640 to people in the ambulance industry. 63 00:04:57,720 --> 00:04:59,920 And that is how our journey began. 64 00:05:01,320 --> 00:05:02,880 Tell us your story too. 65 00:05:02,960 --> 00:05:05,240 Sir, I did schooling from DPS, R. K. Puram. 66 00:05:05,360 --> 00:05:06,920 Then I did my engineering... 67 00:05:07,000 --> 00:05:09,400 Your daughter is my niece's classmate. 68 00:05:09,560 --> 00:05:11,280 Oh, nice. Deal done. 69 00:05:11,400 --> 00:05:12,760 [chuckles] 70 00:05:12,840 --> 00:05:14,560 Then I did my engineering... 71 00:05:14,680 --> 00:05:17,480 - From where? - In computer science from JB Knowledge Park, Faridabad. 72 00:05:44,400 --> 00:05:46,360 It also gives you a feel-good factor 73 00:05:46,360 --> 00:05:48,280 when you're able to help someone. 74 00:05:48,400 --> 00:05:51,360 Being able to save someone's life feels good on the inside too. 75 00:05:51,440 --> 00:05:54,360 You spoke of a personal loss which gave you this idea. 76 00:05:54,360 --> 00:05:55,760 Would you like to share it? 77 00:05:55,880 --> 00:05:57,840 Sir, actually, it was my grandfather. 78 00:05:57,920 --> 00:05:59,160 He suffered a heart attack. 79 00:05:59,240 --> 00:06:02,280 We tried to call an ambulance but we had no luck. 80 00:06:02,360 --> 00:06:04,760 Then my dad went to the nearest hospital 81 00:06:04,840 --> 00:06:07,560 and had the ambulance follow him back home. 82 00:06:07,640 --> 00:06:10,840 And during this period, his condition deteriorated 83 00:06:10,960 --> 00:06:12,600 to the point that he was on a ventilator 84 00:06:12,680 --> 00:06:14,200 continuously for some days. 85 00:06:14,240 --> 00:06:15,600 After which he passed away. 86 00:06:15,680 --> 00:06:18,320 [sentimental music playing] 87 00:06:21,680 --> 00:06:23,680 Losing a life is agonising, sir. 88 00:06:23,920 --> 00:06:26,640 If it was a loved one you've lost, 89 00:06:26,720 --> 00:06:28,920 you are left wondering 90 00:06:29,000 --> 00:06:31,120 what you could have done to save their life. 91 00:06:31,240 --> 00:06:34,080 [sentimental music playing] 92 00:06:34,400 --> 00:06:36,760 [siren wails] 93 00:06:39,320 --> 00:06:43,000 We didn't want others to go through what we went through. 94 00:06:43,320 --> 00:06:46,640 That was the reason we started MeduLance. 95 00:06:46,720 --> 00:06:49,720 [sad music playing] 96 00:06:50,760 --> 00:06:52,800 [siren wails] 97 00:06:54,960 --> 00:06:57,600 If we can save the lives of even one percent of people, 98 00:06:57,680 --> 00:07:00,600 then nothing can compare to the happiness it brings 99 00:07:00,680 --> 00:07:02,360 and that feel-good factor. 100 00:07:02,480 --> 00:07:04,480 [music playing] 101 00:07:08,400 --> 00:07:11,160 Let me share a personal story of a loved one. 102 00:07:11,240 --> 00:07:12,800 My dad had cancer. 103 00:07:12,920 --> 00:07:14,600 [sentimental music playing] 104 00:07:14,680 --> 00:07:17,320 When my dad died of cancer, I was with him. 105 00:07:17,400 --> 00:07:19,240 I needed an ambulance at the time. 106 00:07:19,320 --> 00:07:22,480 It took me at least 45 minutes to get an ambulance to take him. 107 00:07:22,600 --> 00:07:26,040 So, I closely relate to your idea because 108 00:07:26,200 --> 00:07:27,920 I've witnessed the deaths 109 00:07:27,960 --> 00:07:30,400 of my grandfather, grandmother as well as father. 110 00:07:32,640 --> 00:07:34,880 That touch of human emotion 111 00:07:34,960 --> 00:07:38,520 in a timely service is very evident in your case. 112 00:07:38,960 --> 00:07:40,560 [sombre music playing] 113 00:07:41,280 --> 00:07:43,440 Tell us about your products. 114 00:07:43,560 --> 00:07:45,360 You said there are three streams. 115 00:07:45,440 --> 00:07:48,160 VRS, Clinic and MeduAlert. 116 00:07:48,240 --> 00:07:51,080 Ma'am, MeduERS is a stationed ambulance service. 117 00:07:51,160 --> 00:07:52,400 Okay, MeduERS. 118 00:07:52,520 --> 00:07:54,360 A stationed ambulance service 119 00:07:54,480 --> 00:07:56,520 specifically for commercial and residential facilities. 120 00:07:56,600 --> 00:08:00,080 We work with facility managers like JLL and Cushman & Wakefield, 121 00:08:00,080 --> 00:08:03,160 where we park an ambulance for a specific audience already. 122 00:08:03,240 --> 00:08:04,760 The idea behind it is 123 00:08:04,880 --> 00:08:07,800 that an average response time of less than 5 minutes can be given 124 00:08:07,920 --> 00:08:08,760 to a captive audience. 125 00:08:08,800 --> 00:08:11,640 - As the ambulance is on location. - It's already stationed. Yes. 126 00:08:11,720 --> 00:08:12,600 - Got it. - Yes. 127 00:08:12,640 --> 00:08:15,200 - What is the second stream, Clinic? - It's like a medical room 128 00:08:15,280 --> 00:08:16,800 with doctors and paramedics. 129 00:08:16,920 --> 00:08:20,200 Basically, in a residential society or a corporate office, 130 00:08:20,280 --> 00:08:21,560 a medical room is set up 131 00:08:21,600 --> 00:08:25,080 that an employee or a resident can visit for a check-up 132 00:08:25,160 --> 00:08:29,040 either for first-aid or just for basic life support. 133 00:08:32,400 --> 00:08:33,680 - That is your job. - Yes. 134 00:08:33,760 --> 00:08:36,920 As for the ambulance on location in MeduERS, 135 00:08:37,040 --> 00:08:39,200 do you own it or is it on a lease? 136 00:08:39,320 --> 00:08:40,840 Ma'am, the ambulance is on a lease 137 00:08:40,920 --> 00:08:43,480 because we are mostly an asset-light organisation. 138 00:08:43,560 --> 00:08:45,200 - Good. - So, we lease ambulances. 139 00:08:45,320 --> 00:08:46,480 Tell me about the third stream. 140 00:08:46,560 --> 00:08:47,680 The idea is 141 00:08:47,720 --> 00:08:50,480 not just to provide workplace safety to corporate employees. 142 00:08:50,600 --> 00:08:52,280 But when they are out of their office, 143 00:08:52,400 --> 00:08:55,360 even then, employees have a dedicated number to call on 144 00:08:55,400 --> 00:08:57,280 which is specific to every organisation. 145 00:08:57,360 --> 00:08:59,960 They can call on it when they are home 146 00:09:00,040 --> 00:09:02,320 or even if they are in another city. 147 00:09:02,400 --> 00:09:04,040 The service is not only valid for them 148 00:09:04,080 --> 00:09:05,760 but also for their family members. 149 00:09:05,880 --> 00:09:08,960 We provide this service to over 60 corporate partners 150 00:09:16,040 --> 00:09:20,160 isn't traffic a bigger problem than ambulance unavailability? 151 00:09:20,240 --> 00:09:22,280 Sir, this is the biggest problem. 152 00:09:22,400 --> 00:09:24,400 As I said, when we started, 153 00:09:24,440 --> 00:09:26,800 we wanted to have more ambulances per pin code. 154 00:09:26,880 --> 00:09:29,840 - Okay. - We started our services in the year 2017. 155 00:09:29,880 --> 00:09:32,120 We received a call from a lady in Faridabad. 156 00:09:32,200 --> 00:09:33,440 A place in Delhi, right. 157 00:09:33,560 --> 00:09:36,280 She was unconscious at her house. Her daughter had called us. 158 00:09:36,360 --> 00:09:37,840 That's when we realised 159 00:09:37,920 --> 00:09:41,720 that if we dispatch an ambulance which is closest to your location, 160 00:09:41,840 --> 00:09:43,920 we can solve the problem of response time. 161 00:09:43,920 --> 00:09:45,080 - Anupam... - You're saying... 162 00:09:45,120 --> 00:09:48,080 - If I want to go to Fortis in Gurgaon... - Okay. 163 00:09:48,160 --> 00:09:51,200 Suppose Asian Hospital, which is in Faridabad, is closer to me. 164 00:09:51,280 --> 00:09:53,320 If they send me Asian's ambulance 165 00:09:53,600 --> 00:09:56,080 - and drop me to Fortis, it'd save time. - Yes, got it. 166 00:09:56,200 --> 00:09:57,600 - Correct. This is how they operate. - True. 167 00:09:57,680 --> 00:09:59,120 Similar to prepaid taxis. 168 00:09:59,240 --> 00:10:02,360 You create availability in every area. 169 00:10:02,480 --> 00:10:04,760 And you can send them to another neighbourhood. 170 00:10:04,840 --> 00:10:06,920 - No big deal. You can do that. - Yes. 171 00:10:07,000 --> 00:10:09,520 Because the ambulance is closer to you, 172 00:10:09,640 --> 00:10:11,160 - you get it sooner. - Correct. 173 00:10:11,280 --> 00:10:12,360 - Is that right? - Yes. 174 00:10:12,440 --> 00:10:13,240 Okay. 175 00:10:13,360 --> 00:10:14,720 Show us your user journey. 176 00:10:14,840 --> 00:10:18,120 Sure, sir. We will explain it to you with the help of this dashboard. 177 00:10:18,400 --> 00:10:21,320 When we get a call, we take down the patient's name, 178 00:10:21,400 --> 00:10:24,600 number and the exact location as well. 179 00:10:24,680 --> 00:10:27,120 When we click on the option "Ask for 3 words", 180 00:10:27,240 --> 00:10:30,160 we receive a text message that contains a link. 181 00:10:30,240 --> 00:10:32,160 The moment we click on the link... 182 00:10:32,240 --> 00:10:33,160 Hang on a minute. 183 00:10:33,200 --> 00:10:35,640 - You get a text after the incoming call. - Yes. 184 00:10:35,760 --> 00:10:38,120 Do you have to give a missed call on this number? 185 00:10:38,200 --> 00:10:41,280 - No. You call us and we're speaking to you. - Okay. 186 00:10:41,360 --> 00:10:43,440 We will send you a text at that very moment 187 00:10:43,560 --> 00:10:45,160 so that in the absence of an app, 188 00:10:45,280 --> 00:10:48,840 we are able to track your precise location up to 5 metres. 189 00:10:48,920 --> 00:10:52,200 The logic is if you download the app and you have no use for it, 190 00:10:52,240 --> 00:10:53,600 say for a few months, 191 00:10:53,680 --> 00:10:55,280 the tendency is to delete it. 192 00:10:55,400 --> 00:10:57,400 - True. - So, when you call us... 193 00:10:57,480 --> 00:11:00,360 We basically need your location through the app. 194 00:11:00,520 --> 00:11:02,280 We can do this even if you don't have the app. 195 00:11:02,280 --> 00:11:05,200 - So, you do away with it. It isn't necessary to have the app. - Yes. 196 00:11:05,280 --> 00:11:08,000 - Great. - Select the source address. 197 00:11:08,080 --> 00:11:10,320 So now, we have the pick-up address. 198 00:11:10,400 --> 00:11:11,920 And after you submit it, 199 00:11:12,040 --> 00:11:14,640 you will get a list of the available ambulances. 200 00:11:14,720 --> 00:11:17,120 - Closest five available. - Closest five ambulances will be shown. 201 00:11:23,280 --> 00:11:26,320 The distance and the type of ambulances. 202 00:11:30,000 --> 00:11:31,960 where the consumer journey is displayed on the phone 203 00:11:32,040 --> 00:11:33,240 but the driver's journey is shown on the app. 204 00:11:33,320 --> 00:11:34,560 - Yes, sir. - Correct! 205 00:11:34,960 --> 00:11:37,720 How much effort is needed to start it in a new city? 206 00:11:37,840 --> 00:11:40,560 Sir, first we check the number of ambulances available there. 207 00:11:40,640 --> 00:11:42,800 Then we grade according to the advanced life support, 208 00:11:42,880 --> 00:11:44,000 basic life support, 209 00:11:44,120 --> 00:11:45,320 and the frequency of patient transport. 210 00:11:45,400 --> 00:11:47,680 - Tie-up with hospitals. - Yes! 211 00:11:47,760 --> 00:11:49,960 I understood your business. 212 00:11:50,040 --> 00:11:51,480 I understood it completely. 213 00:11:51,560 --> 00:11:54,280 Can we try to understand the revenue model 214 00:11:54,400 --> 00:11:56,520 - and profitability too? - Yes! 215 00:11:56,600 --> 00:11:57,600 Please tell us the figures for all three years. 216 00:12:20,720 --> 00:12:22,240 How much did you earn last month? 217 00:12:39,720 --> 00:12:40,960 - or Rs. 45 crores... - ARR! 218 00:12:41,040 --> 00:12:42,560 ARR, by the end of the year. 219 00:12:42,640 --> 00:12:44,280 What will you be your revenue for the whole year? 220 00:13:02,600 --> 00:13:05,040 It's gratifying to see such start-ups. 221 00:13:13,080 --> 00:13:15,320 You are profitable and everything is running smoothly. 222 00:13:15,400 --> 00:13:16,440 You are a rare start-up. 223 00:13:20,840 --> 00:13:22,960 I messaged you but you didn't reply. 224 00:13:23,080 --> 00:13:25,160 [comical music] [chuckling] 225 00:13:25,280 --> 00:13:27,120 Aman, you shouldn't have asked this question. 226 00:13:27,200 --> 00:13:30,720 I requested my sister to get your phone number from your wife. 227 00:13:30,840 --> 00:13:32,920 Then I messaged you but you never replied. 228 00:13:36,840 --> 00:13:37,640 Shall I give you an offer? 229 00:13:37,720 --> 00:13:39,600 - No! Wait a minute. - Namita and I... 230 00:13:39,720 --> 00:13:42,160 Let us understand the business first. Don't make an offer so soon. 231 00:13:42,240 --> 00:13:45,640 [sweeping music] 232 00:13:45,720 --> 00:13:47,520 - It's an easy business. - You may understand the business. 233 00:13:47,600 --> 00:13:49,400 - How much time do you need to understand? - I have a good idea. 234 00:13:49,480 --> 00:13:51,000 [sweeping music] 235 00:13:51,080 --> 00:13:52,960 Let's give Rs. 100 crores valuation. 236 00:13:53,040 --> 00:13:54,440 Rs. 1 crore for 1%... 237 00:13:54,520 --> 00:13:57,000 You... Please hear me out. 238 00:13:57,920 --> 00:14:00,000 - Sir! Sir! - Yes, sir? 239 00:14:00,080 --> 00:14:02,440 - You said you'll make a revenue of Rs. 40 crores. - Yes, sir. 240 00:14:02,560 --> 00:14:05,320 - And you'll earn a profit of 24%. - Right! 241 00:14:05,400 --> 00:14:07,280 How much is 24% of Rs. 40 crores? 242 00:14:07,360 --> 00:14:09,640 - It's approximately 10. Okay? - Approximately, 10. 243 00:14:09,720 --> 00:14:11,800 It means you earn Rs. 5 crores each 244 00:14:12,000 --> 00:14:13,960 after splitting between you two. 245 00:14:14,040 --> 00:14:16,560 I don't understand why you need an investment 246 00:14:16,640 --> 00:14:18,480 because you asked for just Rs. 2 crores. 247 00:14:18,560 --> 00:14:20,680 [dramatic music] 248 00:14:23,920 --> 00:14:26,440 We feel that we have been facing 249 00:14:26,520 --> 00:14:29,240 some issues in our business so we need your skills 250 00:14:29,320 --> 00:14:31,760 - and expertise. - Expertise! 251 00:14:31,840 --> 00:14:33,600 [laughing] 252 00:14:33,720 --> 00:14:35,040 You don't understand. 253 00:14:36,280 --> 00:14:39,200 I think you need us and we have an offer for you. 254 00:14:39,280 --> 00:14:40,920 I have a question before she makes an offer. 255 00:14:41,000 --> 00:14:42,680 [dramatic music] 256 00:14:43,280 --> 00:14:44,120 Yes, sir. 257 00:14:44,200 --> 00:14:45,360 Let me give an offer first. 258 00:14:45,440 --> 00:14:47,440 [tense music] 259 00:14:47,520 --> 00:14:50,560 Let them... Hold on! Let them answer the question. 260 00:14:53,680 --> 00:14:55,280 I have questions too. 261 00:14:56,840 --> 00:14:59,600 Please don't jump the gun just to make an offer. 262 00:14:59,680 --> 00:15:02,320 [dramatic music] 263 00:15:03,160 --> 00:15:04,600 Let us talk to them. Please answer. 264 00:15:04,680 --> 00:15:06,280 I completely agree with Anupam. 265 00:15:08,880 --> 00:15:10,240 Please don't jump the gun. Come on! 266 00:15:10,360 --> 00:15:12,120 Alright! You may talk. 267 00:15:14,520 --> 00:15:17,040 Sir, it's not that we are raising funds now. 268 00:15:17,120 --> 00:15:19,160 We got offers in the past 269 00:15:19,240 --> 00:15:20,560 - but we didn't accept them. - Okay. 270 00:15:20,640 --> 00:15:24,200 Recently, our competitor raised a 20 million dollar round. 271 00:15:31,640 --> 00:15:33,360 The valuation they got was 100 million dollars. 272 00:15:39,640 --> 00:15:42,040 for entire India in managing emergency responses 273 00:15:42,120 --> 00:15:45,640 including first-tier, second-tier and third-tier cities too. 274 00:15:45,720 --> 00:15:48,400 It's okay that you have expansion plans but the thing is, 275 00:15:48,480 --> 00:15:51,720 a company raises a huge round in a particular industry 276 00:15:51,800 --> 00:15:53,280 at a 100 million valuation 277 00:15:53,400 --> 00:15:55,680 and your revenue is equal to theirs. 278 00:15:55,760 --> 00:15:57,680 If you have a good team, 279 00:15:57,760 --> 00:15:59,600 you should not have had a problem 280 00:15:59,680 --> 00:16:01,440 raising funds from another VC 281 00:16:01,800 --> 00:16:04,200 at a similar valuation. Why didn't you do it? 282 00:16:04,280 --> 00:16:06,320 That's because they want us. 283 00:16:06,440 --> 00:16:08,440 - You don't care to understand. - What's the problem? 284 00:16:08,520 --> 00:16:10,440 - Try to understand a person. - What are you doing? 285 00:16:10,520 --> 00:16:12,920 [suspenseful music] 286 00:16:13,000 --> 00:16:15,360 Sir, we went through the angel rounds. 287 00:16:15,440 --> 00:16:17,840 They valued something or the other 288 00:16:17,920 --> 00:16:19,880 but we failed to understand the SHA agreement. 289 00:16:19,960 --> 00:16:22,360 Absolutely right. I experienced something similar. 290 00:16:22,440 --> 00:16:23,760 We could have asked them 291 00:16:23,840 --> 00:16:27,080 to make the SHA agreement in front of us but then I got fed up. 292 00:16:27,200 --> 00:16:28,280 At times, all the conditions aren't fulfilled. 293 00:16:28,400 --> 00:16:30,200 The thing is, the entrepreneurs 294 00:16:30,320 --> 00:16:32,360 don't understand the point of view of the investors. 295 00:16:32,480 --> 00:16:35,200 We don't know how funding works. 296 00:16:35,280 --> 00:16:38,040 When I started out, I simply messaged my investor 297 00:16:38,160 --> 00:16:40,040 on LinkedIn that I need funding. 298 00:16:40,160 --> 00:16:41,600 Then he explained the details. 299 00:16:41,680 --> 00:16:44,400 I asked him to explain to me all the terms written in it. 300 00:16:44,480 --> 00:16:46,080 Sometimes we don't understand. [laughing] 301 00:16:46,160 --> 00:16:47,840 The investor and I are happy today. 302 00:16:47,960 --> 00:16:49,040 Please make an offer quickly. 303 00:16:49,120 --> 00:16:50,000 We may talk later. 304 00:16:50,080 --> 00:16:54,160 People want to share their stories but don't want to understand things. 305 00:16:56,320 --> 00:16:58,320 You may talk to them and get an offer. 306 00:16:58,880 --> 00:17:00,760 Our offer is, 307 00:17:27,520 --> 00:17:31,200 Rs. 1 crore for 1% equity 308 00:17:31,280 --> 00:17:33,400 which gives you a valuation of Rs. 100 crores. 309 00:17:42,000 --> 00:17:44,240 Actually, we understand businesses quickly 310 00:17:44,320 --> 00:17:46,040 but others need time. 311 00:17:48,720 --> 00:17:50,000 Let's talk maturely now. 312 00:17:50,120 --> 00:17:52,120 Congratulations! You may talk about mature topics 313 00:17:52,200 --> 00:17:53,640 but let me talk immaturely. 314 00:17:53,720 --> 00:17:55,520 [sweeping music] 315 00:17:56,320 --> 00:17:58,800 Your competitor raised funds of 20 million 316 00:17:59,680 --> 00:18:01,120 at a 100 million valuation 317 00:18:01,200 --> 00:18:03,560 so Rs. 1 crore or Rs. 2 crores won't benefit you. 318 00:18:03,640 --> 00:18:05,360 [thrilling music] 319 00:18:05,440 --> 00:18:09,480 And 1% is too less for me to gain anything in this business 320 00:18:09,560 --> 00:18:11,600 as the risks are too high to take just 1%. 321 00:18:13,320 --> 00:18:15,120 You won't agree to give me 5% 322 00:18:15,200 --> 00:18:17,720 and I don't think we'll agree on a figure in-between these two. 323 00:18:17,800 --> 00:18:20,680 I wish you the best and keep doing this business. It's a noble work. 324 00:18:20,760 --> 00:18:23,520 I hope you do a massive round and kill the competition. Good luck! 325 00:18:23,600 --> 00:18:25,160 Thank you so much. 326 00:18:25,240 --> 00:18:27,160 - May ask some questions? - Yes, you may. 327 00:18:27,280 --> 00:18:28,320 Gosh! The questions don't seem to end. 328 00:18:28,400 --> 00:18:30,800 Namita, let me ask some questions as I didn't ask any. 329 00:18:30,880 --> 00:18:32,280 [adventurous music] 330 00:18:32,360 --> 00:18:34,640 You gave your offer and they may accept it 331 00:18:34,760 --> 00:18:36,760 but he has the right to ask questions. 332 00:18:36,920 --> 00:18:38,320 Alright. 333 00:18:53,800 --> 00:18:56,080 How big a company do you want to make? Answer me. 334 00:18:56,200 --> 00:18:57,520 Sir, as I said 335 00:18:57,600 --> 00:19:00,640 that we have been targeting Rs. 100 crore revenue already. 336 00:19:00,720 --> 00:19:02,400 The idea is that we want to reach 337 00:19:02,480 --> 00:19:06,440 about Rs. 200 crores to Rs. 250 crores in the next three years 338 00:19:07,480 --> 00:19:10,400 so that we can command a one billion dollar valuation in the next 5 years 339 00:19:10,480 --> 00:19:12,360 and if we succeed, 340 00:19:12,440 --> 00:19:14,480 we could go on to save 80 crore lives 341 00:19:14,600 --> 00:19:16,440 from the current figure of 8 lakh lives. 342 00:19:16,520 --> 00:19:19,320 Not only in India but maybe in some Southeast Asian 343 00:19:19,400 --> 00:19:21,200 countries also for that matter. 344 00:19:21,280 --> 00:19:22,880 To get a valuation of a billion dollars, 345 00:19:22,960 --> 00:19:23,920 you need to achieve more than Rs. 250 crores 346 00:19:24,000 --> 00:19:27,000 but your ambition is to make it a billion-dollar company. 347 00:19:27,120 --> 00:19:28,840 Over! Time is up. 348 00:19:28,920 --> 00:19:30,240 That's it. Come on! 349 00:19:30,320 --> 00:19:31,840 Hold on! 350 00:19:31,920 --> 00:19:33,280 Or else, our time would be up. 351 00:19:33,360 --> 00:19:35,360 [sweeping music] 352 00:19:36,200 --> 00:19:38,080 I need the equity of a partner 353 00:19:38,160 --> 00:19:40,600 because we'd help you grow 354 00:19:40,680 --> 00:19:42,360 and we'll use our ecosystem to boost you. 355 00:19:42,480 --> 00:19:45,080 We can also assist you in raising the next round. 356 00:19:46,680 --> 00:19:48,520 I need 10% equity 357 00:19:51,000 --> 00:19:53,160 and I'll invest Rs. 5 crores. You asked for 2 but I want to invest 5. 358 00:20:01,400 --> 00:20:04,560 Boss, we can also help them raise funds. 359 00:20:06,040 --> 00:20:07,800 Let me modify my offer. 360 00:20:07,920 --> 00:20:10,080 Rs. 5 crores for 5% equity. 361 00:20:16,200 --> 00:20:18,480 [dramatic music] 362 00:20:23,400 --> 00:20:25,800 I want to join Namita and Aman 363 00:20:25,920 --> 00:20:28,040 - in their offer if they are okay. - Yes! 364 00:20:34,080 --> 00:20:36,880 - I have doctors, hospitals and nurses. - Yes. 365 00:20:36,960 --> 00:20:39,880 All three of us have investors. 366 00:20:39,960 --> 00:20:41,400 He owns the technology. 367 00:20:41,520 --> 00:20:43,200 We will give you enough time. 368 00:20:43,280 --> 00:20:45,720 It's not that someone who gives Rs. 5 crores will give you more time 369 00:20:45,800 --> 00:20:48,840 and we won't. We'll give you time even after giving you Rs. 1 crore. 370 00:20:51,400 --> 00:20:52,840 Let me explain something. 371 00:20:52,960 --> 00:20:55,800 I think you are doing something similar 372 00:20:55,920 --> 00:20:57,440 to our services in CarDekho and InsuranceDekho 373 00:20:57,520 --> 00:21:00,200 and you'd experience a synergy effect. 374 00:21:00,280 --> 00:21:02,800 My investment of Rs. 5 crores has a much higher stake 375 00:21:02,880 --> 00:21:06,000 - than a few lakhs invested by each one of them. - That's right. 376 00:21:08,360 --> 00:21:09,840 [suspenseful music] 377 00:21:09,960 --> 00:21:11,280 I'm taking the highest risk. 378 00:21:11,360 --> 00:21:12,960 I'm trusting you the most 379 00:21:13,040 --> 00:21:14,680 so you must trust me in return. 380 00:21:15,480 --> 00:21:16,920 You have two offers now. 381 00:21:17,000 --> 00:21:18,960 - It's exciting. - Why do you want to dilute 5% equity? 382 00:21:19,040 --> 00:21:22,040 - You may go out, discuss and make a decision. - Alright. 383 00:21:23,640 --> 00:21:25,720 [suspenseful music] 384 00:21:29,400 --> 00:21:32,680 He's offering a good deal. It would be the biggest deal on Shark Tank. 385 00:21:32,800 --> 00:21:35,320 - The five-crore one? - Yes. The valuation is the same. 386 00:21:35,400 --> 00:21:37,040 Aman, Ravjot wants you. 387 00:21:37,120 --> 00:21:39,640 He doesn't like me because I didn't answer his call. 388 00:21:39,720 --> 00:21:40,920 Then apologise to him. 389 00:21:41,000 --> 00:21:43,480 Talk to him lovingly so that he is mellowed. 390 00:21:43,560 --> 00:21:45,440 [suspenseful music] 391 00:21:46,520 --> 00:21:47,720 Welcome back! 392 00:21:48,840 --> 00:21:49,840 My cheque is ready. 393 00:21:49,920 --> 00:21:52,760 - You have started a clash here. - A clash! 394 00:21:52,880 --> 00:21:54,080 Sir, we are experiencing something similar. 395 00:21:54,160 --> 00:21:55,960 [laughing] 396 00:21:56,560 --> 00:21:59,440 Sir, we have a counteroffer. 397 00:21:59,520 --> 00:22:00,640 [thrilling music] 398 00:22:00,720 --> 00:22:01,840 - Oh, no! - Go on. 399 00:22:01,920 --> 00:22:04,200 Just to be clear, 400 00:22:04,280 --> 00:22:06,720 are Aman, Namita and Peyush coming together? 401 00:22:06,800 --> 00:22:08,640 - Yes! - Yes! 402 00:22:08,760 --> 00:22:11,880 If the three of you are coming, can we remove the debt component? 403 00:22:12,000 --> 00:22:12,800 That's right. 404 00:22:12,880 --> 00:22:16,840 So we can maintain our earlier ask 405 00:22:16,960 --> 00:22:18,560 of Rs. 2 crores. 406 00:22:18,640 --> 00:22:20,360 Basically, 407 00:22:33,480 --> 00:22:34,640 You have two offers. 408 00:22:34,760 --> 00:22:38,480 First is Amit's of Rs. 5 crores for 5% equity in your company 409 00:22:38,600 --> 00:22:40,520 which gives you a valuation of Rs. 100 crores. 410 00:22:40,640 --> 00:22:42,120 The second offer is 411 00:22:42,200 --> 00:22:44,600 given by Peyush, Namita and Aman. 412 00:22:44,680 --> 00:22:47,480 Rs. 2 crores for 2% of your company 413 00:22:47,560 --> 00:22:49,280 which gives you a valuation of Rs. 100 crores too. 414 00:22:49,360 --> 00:22:52,120 Which offer would you like to accept? Please decide. 415 00:22:53,160 --> 00:22:54,080 Please make a decision. 416 00:22:54,160 --> 00:22:57,120 - You'll get three Sharks. - I think it's non-negotiable. 417 00:22:57,680 --> 00:22:59,760 - Yes! - [mumbling] 418 00:22:59,880 --> 00:23:01,880 Sir, we'll go with Peyush, Namita and Aman. 419 00:23:18,920 --> 00:23:20,440 Thank you! 420 00:23:22,920 --> 00:23:23,880 - Thank you, sir! - Thank you! 421 00:23:23,960 --> 00:23:25,520 - Pleasure! - Congratulations, guys! Good luck! 422 00:23:25,600 --> 00:23:27,000 Thank you, sir! 423 00:24:38,080 --> 00:24:40,440 [theme music playing] 424 00:25:01,000 --> 00:25:03,080 [theme music fades] 425 00:25:09,320 --> 00:25:11,800 Everyone has an entrepreneurial journey. 426 00:25:11,880 --> 00:25:13,440 Some identify market gaps 427 00:25:13,440 --> 00:25:15,760 while some want to solve the world's problems. 428 00:25:16,080 --> 00:25:18,240 And some only want to make money. 429 00:25:19,160 --> 00:25:22,000 I, too, have an entrepreneurial journey. 430 00:25:22,280 --> 00:25:24,280 I've been a home baker for as long as I know. 431 00:25:24,520 --> 00:25:27,520 I was content with baking cakes for my friends and family. 432 00:25:27,600 --> 00:25:29,120 But during covid, 433 00:25:29,400 --> 00:25:33,000 I left an abusive relationship for my self-respect 434 00:25:33,160 --> 00:25:35,560 and converted my passion into my profession. 435 00:25:35,640 --> 00:25:36,960 [music playing] 436 00:25:37,360 --> 00:25:40,840 I started Cakelicious along with my mother. 437 00:25:40,960 --> 00:25:43,200 [music playing] 438 00:25:43,400 --> 00:25:46,680 When we began making cakes, we realised 439 00:25:46,800 --> 00:25:50,680 that no matter how delicious the cake, it is always delicate. 440 00:25:50,840 --> 00:25:53,720 And if the cake gets smudged during delivery, 441 00:25:53,840 --> 00:25:56,120 it can put the customer in a foul mood. 442 00:25:56,280 --> 00:25:58,040 So, we invented cake tubs. 443 00:25:58,120 --> 00:25:59,640 [uplifting music playing] 444 00:25:59,720 --> 00:26:01,720 Which is cakes inside a box. 445 00:26:01,840 --> 00:26:03,920 Our cakes come in three different sizes 446 00:26:04,000 --> 00:26:06,280 and 30 different flavours. 447 00:26:06,400 --> 00:26:08,080 Like Mango Mondays! 448 00:26:08,200 --> 00:26:10,640 - Tiramisu Tuesdays! - Walnut Wednesdays! 449 00:26:10,720 --> 00:26:11,920 [chuckles] 450 00:26:12,360 --> 00:26:15,480 Sharks, we started from the kitchen in our home. 451 00:26:35,200 --> 00:26:36,400 and by way of cake tubs, 452 00:26:36,400 --> 00:26:38,520 make cakes a part of your everyday craving. 453 00:26:47,040 --> 00:26:48,760 - And we are Cakelicious. - We are Cakelicious. 454 00:26:48,840 --> 00:26:50,400 - Wow! - Lovely. 455 00:26:50,480 --> 00:26:51,920 [chuckles] 456 00:26:52,120 --> 00:26:55,880 - Fatema and Duriya, welcome to Shark Tank season 2. - Thank you. 457 00:27:05,440 --> 00:27:09,640 Yes. Sharks, I studied Bachelor of Computer Applications. 458 00:27:09,920 --> 00:27:10,840 Wow! 459 00:27:10,920 --> 00:27:14,600 And I have worked at Wipro for six months. 460 00:27:14,680 --> 00:27:18,480 Just then, my engagement got fixed and I left the job and got married. 461 00:27:19,560 --> 00:27:23,200 I had to leave because the relationship 462 00:27:23,920 --> 00:27:26,560 had gotten really physically abusive. 463 00:27:27,960 --> 00:27:29,840 It was during covid. 464 00:27:29,840 --> 00:27:32,440 My neighbourhood in Hubli was declared a red zone. 465 00:27:33,800 --> 00:27:37,200 I sought help from my parents and the police authorities. 466 00:27:37,320 --> 00:27:38,880 Rescue flights were operational at the time. 467 00:27:38,960 --> 00:27:41,280 I took a rescue flight and got to Kolkata. 468 00:27:41,560 --> 00:27:44,160 I was four months pregnant at the time. 469 00:27:44,160 --> 00:27:45,440 Oh my God! 470 00:27:46,520 --> 00:27:50,240 I was physically and mentally very disturbed. 471 00:27:51,720 --> 00:27:54,400 Baking cakes has always brought me immense joy. 472 00:27:54,480 --> 00:27:56,760 Baking was therapy for me. 473 00:27:58,560 --> 00:28:01,800 I put up a few posts on Instagram about my work 474 00:28:01,800 --> 00:28:03,760 and received a good response. 475 00:28:04,800 --> 00:28:07,800 Then we thought of going ahead. 476 00:28:07,880 --> 00:28:11,560 I wanted to do something to make my daughter proud. 477 00:28:11,840 --> 00:28:13,680 So, I started Cakelicious. 478 00:28:13,760 --> 00:28:15,800 [pleasant music playing] 479 00:28:16,200 --> 00:28:19,480 How did you manage to stay positive during the entire episode? 480 00:28:19,560 --> 00:28:22,040 Usually, people don't get over their past. 481 00:28:22,200 --> 00:28:26,200 The credit goes to my mom and dad. 482 00:28:27,280 --> 00:28:30,160 Usually, families get really ashamed 483 00:28:30,240 --> 00:28:33,120 but my parents were very proud of me for what I did. 484 00:28:33,280 --> 00:28:36,520 Cakelicious is where it is today thanks to their support. 485 00:28:38,000 --> 00:28:40,360 You're the smart daughter of a smart mother. 486 00:28:40,440 --> 00:28:43,880 You ventured into a business at this age. 487 00:28:44,320 --> 00:28:45,920 So, big credit to you. 488 00:28:47,320 --> 00:28:49,000 What is your mom's day-to-day role? 489 00:28:49,080 --> 00:28:51,120 Mom is the head chef. 490 00:28:52,600 --> 00:28:55,720 She oversees baking in two cloud kitchens. 491 00:28:55,800 --> 00:28:57,440 You make a sweet pair. 492 00:28:59,280 --> 00:29:01,200 Fatema and Duriya, I have a question. 493 00:29:01,360 --> 00:29:03,880 Are these cakes real? 494 00:29:03,960 --> 00:29:05,000 They are all real. 495 00:29:05,080 --> 00:29:06,840 We wish to taste them. 496 00:29:06,920 --> 00:29:07,760 Sure. 497 00:29:08,240 --> 00:29:10,760 - Sure, Sharks. - [Sharks laugh] 498 00:29:11,440 --> 00:29:14,280 [uplifting music playing] 499 00:29:15,160 --> 00:29:16,120 What is this? 500 00:29:16,200 --> 00:29:18,160 Sharks, this is our packaging? 501 00:29:18,240 --> 00:29:19,600 - Is there cake inside? - No. 502 00:29:19,600 --> 00:29:21,440 - Alright. - [both laugh] 503 00:29:21,520 --> 00:29:22,440 You hog! 504 00:29:23,960 --> 00:29:26,360 - This must contain milk. - No, Sharks. 505 00:29:26,440 --> 00:29:28,120 It's gluten-free tiramisu. 506 00:29:28,200 --> 00:29:30,120 - Oh, Lord! - Wow! 507 00:29:30,240 --> 00:29:31,600 Thank you! 508 00:29:31,680 --> 00:29:34,560 Generally, we aren't served desserts unless the product is milk. 509 00:29:47,120 --> 00:29:50,680 Who decides the recipes? You or Ms. Duriya? 510 00:29:50,760 --> 00:29:53,960 The base is made using a 90-year-old recipe. 511 00:29:54,080 --> 00:29:56,240 My mom learnt it from her mom. 512 00:30:10,120 --> 00:30:11,800 [exhilarating music] 513 00:30:13,200 --> 00:30:15,600 A small cake is called a pastry. 514 00:30:23,240 --> 00:30:25,840 Sharks, the problem with pastries is that 515 00:30:25,840 --> 00:30:28,720 they get smeared on the box during delivery 516 00:30:28,800 --> 00:30:30,760 and they get spoilt before we can eat them. 517 00:30:30,840 --> 00:30:33,760 Moreover, we use cake tubs because they are sturdy 518 00:30:33,880 --> 00:30:35,360 and they don't need finishing. 519 00:30:35,440 --> 00:30:38,640 To make a cake and design it, 520 00:30:38,720 --> 00:30:40,120 we need one hour. 521 00:30:40,280 --> 00:30:44,080 And the cake tubs reduce the time as it's done within five minutes. 522 00:30:48,960 --> 00:30:51,800 Yes, Sharks. We introduced them in 2020. 523 00:30:51,920 --> 00:30:54,560 We posted the pictures on Instagram 524 00:30:54,640 --> 00:30:57,000 so their replication is natural 525 00:30:57,200 --> 00:30:58,880 because it can be made easily. 526 00:30:58,960 --> 00:31:01,320 I understood. What do you want from Sharks? 527 00:31:01,880 --> 00:31:05,320 Sharks, when we think of desserts after dinner, 528 00:31:05,400 --> 00:31:07,320 we search for ice-creams and waffles 529 00:31:07,400 --> 00:31:11,200 but cakes are meant for celebrations even though they are delicious. 530 00:31:11,280 --> 00:31:12,360 A great point. 531 00:31:12,800 --> 00:31:15,360 Sharks, the way Monginis stores are open in every bylane, 532 00:31:15,440 --> 00:31:18,520 we want to open stores of Cakelicious in every bylane too. 533 00:31:18,600 --> 00:31:19,680 Wonderful. 534 00:31:20,520 --> 00:31:22,040 Please share your sales figures. 535 00:31:34,720 --> 00:31:36,760 And what are your expenses? Please explain it. 536 00:31:37,640 --> 00:31:40,400 Sharks, our bestsellers for the last two months 537 00:31:57,520 --> 00:32:00,000 I liked your cake in the same manner. 538 00:32:00,600 --> 00:32:03,440 Please don't be a part of the rat race to get an investment. 539 00:32:04,840 --> 00:32:08,120 My suggestion to you is to run your business in a relaxed manner. 540 00:32:08,280 --> 00:32:11,160 Don't seek investment in your business. 541 00:32:11,240 --> 00:32:12,880 Even if someone offers, just refuse. 542 00:32:13,440 --> 00:32:14,400 Okay? 543 00:32:15,720 --> 00:32:17,400 Thank you! I'm out. 544 00:32:17,600 --> 00:32:18,680 Thank you, Shark! 545 00:32:31,720 --> 00:32:33,520 you are making a profit of Rs. 80,000 out of Rs. 2.5 lakhs. 546 00:32:33,600 --> 00:32:35,800 Gradually, when you do sales of Rs. 10 lakhs, 547 00:32:35,920 --> 00:32:37,840 you'd earn Rs. 4 lakhs per month. 548 00:32:37,920 --> 00:32:40,960 It's a significant earning and after that, 549 00:32:41,160 --> 00:32:45,160 you may consider an investment. Your product is good. 550 00:32:45,640 --> 00:32:48,680 In fact, I'll be scolded by Namita as I ate it all. 551 00:32:48,760 --> 00:32:50,840 - I was following a diet. - Yes! 552 00:32:51,600 --> 00:32:53,640 You may make a name for yourself 553 00:32:54,200 --> 00:32:56,040 with your product which is cake. 554 00:32:56,160 --> 00:32:59,200 You'll get word-of-mouth promotion. And you're running a restaurant too. 555 00:32:59,280 --> 00:33:01,440 When one restaurant makes a profit, you may open a second restaurant 556 00:33:01,520 --> 00:33:04,120 but I don't think you should seek an investment right now. 557 00:33:04,680 --> 00:33:06,160 So I'm out. 558 00:33:07,040 --> 00:33:08,080 Thank you. 559 00:33:08,440 --> 00:33:11,440 I have a few questions. You said your revenue is Rs. 2.5 lakhs. 560 00:33:11,520 --> 00:33:13,200 Can you give the details like your revenue 561 00:33:13,280 --> 00:33:15,360 from online deliveries and shops? 562 00:33:15,920 --> 00:33:18,640 Sharks, our business through Instagram 563 00:33:18,760 --> 00:33:20,120 is quite famous. 564 00:33:35,440 --> 00:33:39,320 Sharks, 80% of our customers order again. 565 00:33:43,120 --> 00:33:45,640 who try thirty flavours for thirty days. 566 00:33:50,600 --> 00:33:51,680 I want to make an offer. 567 00:33:51,760 --> 00:33:53,400 Wow, offer! 568 00:33:55,920 --> 00:33:59,840 I liked you as a couple and I liked your product too. 569 00:34:00,080 --> 00:34:02,920 We can help you set up the distribution of your products. 570 00:34:03,000 --> 00:34:06,160 It's an early stage and we need to toil a lot. 571 00:34:08,240 --> 00:34:10,840 My offer is Rs. 15 lakhs for 15% equity 572 00:34:10,920 --> 00:34:13,000 which values your company at Rs. 1 crore. 573 00:34:23,240 --> 00:34:25,880 I think you have introduced an interesting concept 574 00:34:26,400 --> 00:34:28,960 of serving cake in a tub. 575 00:34:30,320 --> 00:34:33,960 You must keep doing inventions to stay ahead of the competition. 576 00:34:35,160 --> 00:34:38,160 I think you can create a lot of different products over time. 577 00:34:38,600 --> 00:34:40,280 That's my advice to you. 578 00:34:40,400 --> 00:34:43,480 I don't think I can help you in any other way. 579 00:34:43,560 --> 00:34:45,360 [dramatic music] 580 00:34:45,840 --> 00:34:48,560 So I'm out today but you have a nice offer. 581 00:34:49,840 --> 00:34:52,680 Firstly, Ms. Fatema, you are a role model. 582 00:34:53,800 --> 00:34:56,440 And I'm also extremely inspired by you 583 00:35:06,000 --> 00:35:08,920 and add value which I lack. 584 00:35:10,080 --> 00:35:13,120 But thank you for inspiring me today. 585 00:35:13,280 --> 00:35:16,800 I wish you the best but unfortunately, I have to be out. 586 00:35:18,920 --> 00:35:20,520 Thank you so much! 587 00:35:20,680 --> 00:35:22,760 So you have one offer 588 00:35:22,840 --> 00:35:25,560 and I don't think you can get a better offer than this. 589 00:35:25,720 --> 00:35:30,200 Sharks, can I take advice from my dad 590 00:35:30,320 --> 00:35:33,680 - who helps me in my business regarding finance? - Sure! 591 00:35:33,800 --> 00:35:34,760 Sure. 592 00:35:35,240 --> 00:35:37,880 [dramatic music] 593 00:35:39,680 --> 00:35:40,840 I'm happy, you are helping her. 594 00:35:40,920 --> 00:35:42,360 - We'll try to make it a big brand. - That's really good. 595 00:35:42,440 --> 00:35:46,600 The thing is, there's no space in D2C. How much do the cakes cost? 596 00:35:46,680 --> 00:35:48,120 We need to spot the clutter and break it. 597 00:35:57,040 --> 00:35:58,600 [sweeping music] 598 00:35:59,800 --> 00:36:03,280 Sharks, we have a counteroffer with your permission. 599 00:36:03,360 --> 00:36:06,320 Wow! It's nice to hear that. Great! 600 00:36:08,760 --> 00:36:09,720 Please go on. 601 00:36:24,120 --> 00:36:26,560 I intend to help you honestly 602 00:36:26,640 --> 00:36:28,280 through digital distribution. 603 00:36:28,360 --> 00:36:32,080 I know that your product is good and we must make it a big company 604 00:36:32,240 --> 00:36:34,960 at a higher scale. So please don't overthink. 605 00:36:36,280 --> 00:36:38,920 - You may take debt. - Please ignore him. 606 00:36:39,000 --> 00:36:41,080 [thrilling music] 607 00:36:42,920 --> 00:36:44,400 - Speak up! - Okay. 608 00:36:44,640 --> 00:36:45,600 - Deal? - Sir, done deal! 609 00:36:45,680 --> 00:36:46,560 Thank you! 610 00:36:53,440 --> 00:36:55,240 - Thank you so much. - Thank you. 611 00:36:55,480 --> 00:36:56,640 Thank you. 612 00:36:56,960 --> 00:36:57,800 Goodbye. 613 00:36:57,920 --> 00:36:59,640 - [ecstatic cry] - Wow! 614 00:37:00,560 --> 00:37:03,040 [euphoric music playing] 615 00:37:05,480 --> 00:37:07,400 Shameless man! Don't eat more cake! 616 00:37:08,320 --> 00:37:09,520 [chuckles] 617 00:37:10,320 --> 00:37:13,040 It is my duty to take you away from here! 618 00:37:14,240 --> 00:37:16,040 Education? What's this? 619 00:37:17,440 --> 00:37:19,800 Is that me in the centre? 620 00:37:20,120 --> 00:37:22,720 Wow! They got the fringe right. 621 00:37:22,800 --> 00:37:25,440 That's Anupam, he's curious. 622 00:37:25,600 --> 00:37:27,600 That's Aman. Is that you? 623 00:37:27,680 --> 00:37:28,920 - I don't understand. - Wow. 624 00:37:28,920 --> 00:37:31,160 Great! We're playing cricket. Bowled. 625 00:37:31,360 --> 00:37:33,520 [theme music playing] 626 00:37:46,440 --> 00:37:47,560 Oh, wow! 627 00:37:51,520 --> 00:37:54,520 [theme music fades] 628 00:37:54,720 --> 00:37:56,440 Akshay, do you know? 629 00:37:56,520 --> 00:37:58,120 Wasim Akram's highest score in a test match 630 00:37:58,120 --> 00:37:59,640 - is greater than Sachin's. - Hey! 631 00:37:59,640 --> 00:38:01,320 And Sachin Tendulkar 632 00:38:01,320 --> 00:38:03,880 took more five-wicket hauls than Shane Warne in ODIs. 633 00:38:04,000 --> 00:38:04,880 No way. 634 00:38:05,000 --> 00:38:07,240 I know you're a big cricket fan! 635 00:38:07,400 --> 00:38:09,840 Why don't you do something about your knowledge and passion? 636 00:38:09,840 --> 00:38:10,840 Why are you annoying me? 637 00:38:10,920 --> 00:38:11,800 What do I do? 638 00:38:11,800 --> 00:38:13,600 There is no platform 639 00:38:13,680 --> 00:38:16,760 where I can achieve something on the basis of my passion. 640 00:38:16,920 --> 00:38:20,600 But now, the wait is over. We present to you Bowled.io. 641 00:38:33,400 --> 00:38:35,440 - I'll just take the gear off. - Okay. 642 00:38:35,560 --> 00:38:37,520 [theme music playing] 643 00:38:39,840 --> 00:38:42,160 Sharks, Bowled. io is the world's first 644 00:38:42,160 --> 00:38:44,560 sports-based social gaming platform 645 00:38:54,400 --> 00:38:55,200 Real money. 646 00:38:55,320 --> 00:38:58,040 On the other hand, Bowled. io provides a platform 647 00:38:58,120 --> 00:39:01,880 to teams and clubs to engage with their fans all year long. 648 00:39:02,680 --> 00:39:05,400 Sharks, not everyone can become a cricketer. 649 00:39:06,240 --> 00:39:08,720 But there sure is a cricketer in every fan. 650 00:39:08,800 --> 00:39:13,760 And they can live their dream on our app in a digital world. 651 00:39:14,320 --> 00:39:17,040 We went live with the Bowled. io app three weeks ago. 652 00:39:17,120 --> 00:39:19,680 Today, we have a user base in 125 countries 653 00:39:28,120 --> 00:39:30,640 that engages and inspires them 654 00:39:30,720 --> 00:39:33,520 and gives them a chance to celebrate their fandom. 655 00:39:34,240 --> 00:39:36,800 Sharks, our ask is 656 00:39:48,360 --> 00:39:49,880 Akshay and Rahul, welcome to Shark Tank. 657 00:39:49,960 --> 00:39:52,000 First, tell me how you know each other. 658 00:39:52,120 --> 00:39:54,360 We've known each other for 20 years now. 659 00:39:55,080 --> 00:39:57,840 Our journey began as undergrads at IIT Madras. 660 00:39:57,920 --> 00:40:00,240 - We were wingmates there. - Oh! 661 00:40:00,320 --> 00:40:01,520 Where did you work? 662 00:40:01,520 --> 00:40:04,400 I worked with Halliburton for five years as a field engineer. 663 00:40:04,480 --> 00:40:08,120 I worked in oil field services in Africa and Europe. 664 00:40:08,200 --> 00:40:12,680 - Then I joined ONE Championship, ONE Esports in 2019. - Hmm. 665 00:40:12,760 --> 00:40:15,280 Where I oversaw D2C revenue monetisation. 666 00:40:25,360 --> 00:40:26,960 including in Samsung Research. 667 00:40:27,480 --> 00:40:31,040 After that, I joined one of India's biggest sports broadcasters 668 00:40:31,040 --> 00:40:33,040 - as a marketing manager. - Star. 669 00:40:33,120 --> 00:40:34,080 - Star Sports. - Yes. 670 00:40:34,080 --> 00:40:36,600 Fortunately, I got a chance 671 00:40:36,680 --> 00:40:40,040 to work on Pro Kabaddi when it was in its very early days. 672 00:40:40,120 --> 00:40:41,840 I learned things in-depth. 673 00:40:43,040 --> 00:40:45,840 Okay. Akshay and Rahul, tell us what this exactly does. 674 00:40:45,920 --> 00:40:48,120 The Bowled.io app has three parts. 675 00:40:58,200 --> 00:40:59,400 This is a cricket player. 676 00:40:59,480 --> 00:41:01,360 These are mini-games. 677 00:41:01,360 --> 00:41:04,200 - We've broken cricket down into different skills. - Nice. 678 00:41:04,200 --> 00:41:07,480 You enhance your skills as and when you try them. 679 00:41:07,560 --> 00:41:10,360 You can make in-game currency with it 680 00:41:10,480 --> 00:41:12,960 and use it to skill up your player. 681 00:41:13,040 --> 00:41:14,560 Then he becomes a semi-pro player 682 00:41:14,640 --> 00:41:17,360 and a lot of options become open to him at this point 683 00:41:17,440 --> 00:41:20,080 to play other games. Player versus player for instance. 684 00:41:21,240 --> 00:41:22,160 What just happened? 685 00:41:22,240 --> 00:41:25,040 He is our highest-level player. 686 00:41:25,120 --> 00:41:27,040 - Legendary player. - Oh, legendary! 687 00:41:27,200 --> 00:41:29,520 These stadiums are the highest-priced 688 00:41:29,520 --> 00:41:31,200 and they are our rarest assets. 689 00:41:31,280 --> 00:41:32,920 First of all, this is NFT. 690 00:41:39,480 --> 00:41:41,840 Or if you bring sponsors... 691 00:41:41,920 --> 00:41:44,400 - For instance, say you want to earn passive income. - Yes. 692 00:41:44,400 --> 00:41:46,520 - So, you can earn rental income too. - Got it. 693 00:41:46,600 --> 00:41:47,840 What is Marketplace? 694 00:41:47,920 --> 00:41:49,200 The Bowled.io app features Marketplace. 695 00:41:49,280 --> 00:41:51,520 You can buy, sell and trade 696 00:41:59,960 --> 00:42:00,920 - Shall we? - Yes. 697 00:42:01,000 --> 00:42:02,480 - Okay, I'll try this out. - Come on. 698 00:42:02,560 --> 00:42:03,400 Let's do two on two. 699 00:42:03,400 --> 00:42:05,360 - Just two. - Go on. 700 00:42:06,320 --> 00:42:07,960 Mr. Curious 1 and 2! 701 00:42:08,680 --> 00:42:10,680 - This is... - [laughs] 702 00:42:11,360 --> 00:42:13,640 You can choose your own character. 703 00:42:13,760 --> 00:42:15,640 I'll buy eyewear NFT. 704 00:42:15,720 --> 00:42:17,240 - How do I operate it? - You are batting. 705 00:42:17,320 --> 00:42:19,520 - How do I swing the bat? - With this button here. 706 00:42:19,680 --> 00:42:23,440 Look at the bar and hit when it's green for a fast ball. 707 00:42:23,520 --> 00:42:24,480 Ball setting. 708 00:42:25,760 --> 00:42:27,440 [claps] 709 00:42:27,560 --> 00:42:28,520 What happened? 710 00:42:28,680 --> 00:42:30,200 - Peyush hit six runs. - Six. 711 00:42:30,200 --> 00:42:31,480 I'll bowl you out. 712 00:42:31,840 --> 00:42:33,240 - Whoa! - Yay! 713 00:42:33,240 --> 00:42:34,720 - Yes. - Yes! 714 00:42:35,040 --> 00:42:36,040 Round over. 715 00:42:36,120 --> 00:42:38,560 [upbeat music playing] 716 00:42:40,200 --> 00:42:43,080 First, let's understand what's different about your gameplay. 717 00:42:43,600 --> 00:42:45,600 Graphically, it was very impressive. 718 00:42:45,680 --> 00:42:47,680 And conceptually also, it was very impressive. 719 00:42:47,760 --> 00:42:51,320 You spoke of NFT, gaming, blockchains, marketplace. 720 00:42:51,320 --> 00:42:52,320 All buzz words. 721 00:42:52,400 --> 00:42:53,840 But when we played the game... 722 00:42:53,960 --> 00:42:56,120 - Disappointed. Not at all fun. - I felt the same... 723 00:42:56,800 --> 00:42:58,120 There was no fun. It was normal. 724 00:42:58,200 --> 00:43:00,920 It wasn't anything extraordinary. We've played this before. 725 00:43:02,280 --> 00:43:04,160 No. I disagree with you, Anupam. 726 00:43:04,240 --> 00:43:05,960 Graphically, it was very poor. 727 00:43:07,360 --> 00:43:09,520 - The games we see kids playing nowadays... - Yes. 728 00:43:09,600 --> 00:43:11,120 They're at a whole new level. 729 00:43:12,040 --> 00:43:13,480 This is nothing in comparison. 730 00:43:13,480 --> 00:43:16,240 Is this your main focus? What is the reason behind this? 731 00:43:17,360 --> 00:43:19,600 - This is under development now. - Okay. 732 00:43:19,600 --> 00:43:21,600 This is proof of concept in a way. 733 00:43:21,680 --> 00:43:24,120 We wanted to build a game and release it 734 00:43:24,240 --> 00:43:26,920 - so that the user feedback loop could begin for us. - Got it. 735 00:43:26,920 --> 00:43:29,040 We are basically a gaming platform. 736 00:43:29,120 --> 00:43:30,320 Our USP, 737 00:43:42,280 --> 00:43:43,880 I'm assuming you're pre-revenue. 738 00:43:43,960 --> 00:43:45,160 We're actually post-revenue. 739 00:43:45,240 --> 00:43:47,760 Post-revenue. How much money have you made? 740 00:43:47,880 --> 00:43:48,920 What is your revenue model? 741 00:43:49,040 --> 00:43:50,680 We have three revenue streams. 742 00:44:05,480 --> 00:44:08,160 At the beginning of our journey, it'll be the first model 743 00:44:08,240 --> 00:44:09,320 where we've dropped assets 744 00:44:09,400 --> 00:44:12,720 - and from where we generated our revenue. - How much? 745 00:44:18,440 --> 00:44:20,160 through which we made Rs. 1.2 crores. 746 00:44:20,240 --> 00:44:22,560 You earned Rs. 1.2 crores in four months. 747 00:44:22,640 --> 00:44:24,160 - That was in a week. - A week. 748 00:44:24,360 --> 00:44:25,400 In one week! 749 00:44:25,520 --> 00:44:26,720 When will the next drop be? 750 00:44:26,800 --> 00:44:29,240 We wish to do it during the World Cup. 751 00:44:29,440 --> 00:44:30,360 Okay. 752 00:44:30,480 --> 00:44:32,680 So, you dropped assets in May. 753 00:44:32,760 --> 00:44:35,120 - That means you already had a user base. - Yes. 754 00:44:35,200 --> 00:44:39,040 In April-May, what was your MAO, monthly active users? 755 00:44:39,280 --> 00:44:42,640 - And your daily active users, DAO? - Yes. 756 00:44:42,880 --> 00:44:45,480 Our daily active users were 1000 to 1500. 757 00:44:49,800 --> 00:44:52,120 Tell us about the valuation then. 758 00:44:52,520 --> 00:44:54,000 We raised an angel round first 759 00:45:30,080 --> 00:45:32,760 Where do you plan on deploying this Rs. 10 crores? 760 00:45:33,280 --> 00:45:34,920 The majority will go into the product. 761 00:45:35,000 --> 00:45:37,520 We have literally just started making it right now. 762 00:45:37,600 --> 00:45:41,520 Apart from that, we are partnering with studios. 763 00:45:41,600 --> 00:45:44,320 We are trying to get a ready game 764 00:45:44,440 --> 00:45:46,640 which has an existing user base 765 00:45:46,720 --> 00:45:49,120 and are hoping to acquire it for our platform. 766 00:45:50,400 --> 00:45:52,040 Yours is a solid pedigree. 767 00:45:52,280 --> 00:45:54,200 You will do something amazing. 768 00:45:54,320 --> 00:45:56,040 But I am out. 769 00:45:57,160 --> 00:46:00,000 I feel your valuation of Rs. 80 crores is very high. 770 00:46:00,080 --> 00:46:01,960 My suggestion is, 771 00:46:01,960 --> 00:46:05,840 build games where the network effect takes place quickly 772 00:46:05,840 --> 00:46:08,280 and they become viral. 773 00:46:10,800 --> 00:46:11,880 'Network effect.' 774 00:46:11,960 --> 00:46:14,440 'It is a phenomenon where the more the number of people ' 775 00:46:14,440 --> 00:46:16,160 'that get associated with the product or service,' 776 00:46:16,240 --> 00:46:18,240 'the more valuable that product or service becomes.' 777 00:46:18,480 --> 00:46:19,600 'Like WhatsApp for instance.' 778 00:46:19,880 --> 00:46:21,960 'If you're the only one using it, it has no value.' 779 00:46:22,040 --> 00:46:25,760 'But you prefer to use it because your friends use it too.' 780 00:46:26,000 --> 00:46:28,160 'This is called network effect.' 781 00:46:29,880 --> 00:46:32,600 I agree with Aman that the valuation is too high. 782 00:46:33,720 --> 00:46:38,200 My biggest problem is your graphics lack finesse. 783 00:46:38,200 --> 00:46:39,080 Work on that. 784 00:46:39,160 --> 00:46:40,320 But for now, I am out. 785 00:46:40,680 --> 00:46:41,560 Thank you. 786 00:46:42,280 --> 00:46:43,720 As far as I know, 787 00:46:44,080 --> 00:46:46,200 making a popular game is a difficult task. 788 00:46:46,320 --> 00:46:48,960 There are many experts out there. You should collaborate with them. 789 00:46:48,960 --> 00:46:50,400 Your expertise is strategising. 790 00:46:50,400 --> 00:46:54,720 Your profile is not one of an enthusiastic gamer. 791 00:46:55,560 --> 00:46:57,200 The level of enthusiasm that is required 792 00:46:57,200 --> 00:47:00,360 to create that level of gaming is a very different thing. 793 00:47:00,360 --> 00:47:01,360 I don't see the passion. 794 00:47:02,400 --> 00:47:04,400 So, I am out for that reason. 795 00:47:06,640 --> 00:47:08,040 The challenge is 796 00:47:08,120 --> 00:47:10,840 that your complete focus lies on building the business 797 00:47:10,920 --> 00:47:13,160 whereas it should be on creating games. 798 00:47:14,040 --> 00:47:15,440 Okay? Get the best talent 799 00:47:15,560 --> 00:47:19,000 who can think illogically and non-linearly. 800 00:47:19,120 --> 00:47:21,160 This seems like a very high-risk investment. 801 00:47:21,240 --> 00:47:22,440 So, I am out. 802 00:47:23,600 --> 00:47:25,280 As far as I understand, 803 00:47:25,920 --> 00:47:28,800 when you started, the game market was hot. 804 00:47:40,600 --> 00:47:41,720 For these reasons, I am out. 805 00:47:41,840 --> 00:47:44,520 If it works out, I'll be happy to be proven wrong. 806 00:47:44,600 --> 00:47:45,600 Good luck. 807 00:47:47,160 --> 00:47:48,480 Best of luck, guys. 808 00:47:48,840 --> 00:47:50,600 - Thank you. - Bye, guys. 809 00:47:50,720 --> 00:47:51,600 Thank you. 810 00:47:56,120 --> 00:47:58,160 [bubbles rising] 811 00:47:58,600 --> 00:48:01,280 [theme music playing] 812 00:48:11,960 --> 00:48:13,920 [theme music continues] 813 00:48:17,160 --> 00:48:19,680 [theme music fades] 814 00:48:25,000 --> 00:48:27,080 [uplifting music playing] 815 00:48:43,120 --> 00:48:45,680 - the most important thing one needs is variety. - Hmm. 816 00:48:45,800 --> 00:48:49,280 And today we have more than 2,000 unique toys. 817 00:48:57,160 --> 00:48:58,200 Sharks, our vision 818 00:48:58,280 --> 00:49:02,200 is that every child buys their first and last toy from Toyshine. 819 00:49:03,240 --> 00:49:04,320 Our ask is 820 00:49:13,280 --> 00:49:15,200 You asked for a valuation of more than Rs. 250 crores. 821 00:49:15,280 --> 00:49:17,920 What value can we add to it? 822 00:49:18,040 --> 00:49:20,080 My friend, please share your sales figures. 823 00:49:20,600 --> 00:49:22,440 Sir, last year we made sales of Rs. 45 crores. 824 00:49:28,520 --> 00:49:30,240 [laughing] 825 00:49:31,360 --> 00:49:32,600 That was a good one. 826 00:49:35,000 --> 00:49:38,120 - Rohit, welcome to Shark Tank. - Thank you, ma'am! 827 00:49:38,200 --> 00:49:40,800 Please tell us why you thought of this idea. 828 00:49:40,920 --> 00:49:42,800 Do you have a past history in toys? 829 00:49:42,920 --> 00:49:45,560 My dad ran a toy store till 2018. 830 00:49:45,640 --> 00:49:48,760 I have been watching and selling toys since childhood. 831 00:49:48,840 --> 00:49:50,400 [ethereal music] 832 00:49:50,480 --> 00:49:53,840 So I converted my traditional family business 833 00:49:53,920 --> 00:49:56,720 into a digital e-commerce company with Toyshine. 834 00:50:21,520 --> 00:50:25,040 Some regulations made it difficult to import products from China. 835 00:50:25,480 --> 00:50:29,200 - Absolutely! - And 80% to 90% of toys were imported from China 836 00:50:29,360 --> 00:50:30,680 - to our country. - That's right. 837 00:50:30,800 --> 00:50:34,280 Did your sales improve because of sanctions imposed on China-imports? 838 00:50:34,360 --> 00:50:37,160 When we imported from China, our working capital used to be blocked 839 00:50:37,240 --> 00:50:39,840 - because we had to import products for 3 to 4 months. - That's right. 840 00:50:40,640 --> 00:50:43,440 Now we can manage even if the supply is less. 841 00:50:43,520 --> 00:50:46,080 How many products do you order from within India? 842 00:50:52,720 --> 00:50:54,640 what were your sales in the first year? 843 00:50:55,000 --> 00:50:56,240 - Rs. 25 crores. - Rs. 25 crores! 844 00:50:56,320 --> 00:50:59,080 - And it doubled in the next year. - Yes. Sir, 845 00:50:59,320 --> 00:51:02,720 it took 1.5 years to 2 years for the selection to deplete. 846 00:51:02,800 --> 00:51:04,720 And Covid's impact 847 00:51:04,800 --> 00:51:07,480 boosted the sale of toys. 848 00:51:07,560 --> 00:51:09,160 What's your current run rate? 849 00:51:17,760 --> 00:51:20,480 Because the year before last year, you made sales of Rs. 40 crores. 850 00:51:22,800 --> 00:51:24,720 Last year, you made sales of Rs. 45 crores. 851 00:51:24,800 --> 00:51:27,800 This year, you'll make sales of Rs. 45 crores to Rs. 48 crores. 852 00:51:27,880 --> 00:51:29,040 So your business is flat. 853 00:51:29,120 --> 00:51:31,680 This year, we hope to close between Rs. 52 crores to Rs. 54 crores. 854 00:51:31,760 --> 00:51:35,000 - Maybe! The current run rate... - But, sir... 855 00:51:35,240 --> 00:51:36,800 It's around Rs. 48 crores to Rs. 50 crores. 856 00:51:37,680 --> 00:51:39,120 What's your profit in Rs. 45 crores? 857 00:51:39,240 --> 00:51:41,320 Sir, our net profit is around 15%. 858 00:51:51,360 --> 00:51:53,400 It's one of our bestsellers. 859 00:51:53,480 --> 00:51:54,640 Come on! 860 00:51:55,920 --> 00:51:57,040 There are two balls. 861 00:51:57,920 --> 00:51:59,200 Let's see which one goes first. 862 00:52:02,040 --> 00:52:04,960 [babbling] 863 00:52:05,720 --> 00:52:08,040 What's up with him? 864 00:52:08,600 --> 00:52:10,160 Do we need to hit it using this? 865 00:52:10,280 --> 00:52:12,160 Yes. If you want to play 866 00:52:12,240 --> 00:52:14,360 - table tennis alone or with a friend. - It's wonderful. 867 00:52:15,840 --> 00:52:18,680 - Is it made in India? - No, sir. It's assembled. 868 00:52:18,800 --> 00:52:19,920 So it's imported from China? 869 00:52:24,960 --> 00:52:26,120 [chuckling] 870 00:52:26,680 --> 00:52:29,480 Rohit, what have you done to them? 871 00:52:29,560 --> 00:52:31,280 You turned them into baby sharks. 872 00:52:31,360 --> 00:52:33,280 [laughing] 873 00:52:35,800 --> 00:52:38,400 You said that you make 2,000 unique toys 874 00:52:38,520 --> 00:52:40,040 and make a new toy every week. 875 00:52:40,120 --> 00:52:43,400 What is the process of designing to do so many innovations? That's one. 876 00:52:44,320 --> 00:52:46,840 Second, when you have 2,000 SKUs, 877 00:52:46,920 --> 00:52:48,360 how do you manage the supply chain? 878 00:52:48,440 --> 00:52:51,240 It's not easy to manage such a vast variety of toys. 879 00:53:23,640 --> 00:53:25,560 to stand out and differentiate? 880 00:53:25,640 --> 00:53:28,120 Ma'am, we don't just have a marketing strategy, 881 00:53:28,200 --> 00:53:30,720 we have focused on the root that is our product. 882 00:53:30,800 --> 00:53:33,560 Selection is our core strength. 883 00:53:34,480 --> 00:53:36,000 We select a product 884 00:53:36,080 --> 00:53:37,480 that's nice and isn't available in the market. 885 00:53:37,600 --> 00:53:39,280 These are common products 886 00:53:39,360 --> 00:53:40,600 and they are available in the market. 887 00:53:40,680 --> 00:53:44,960 Ma'am, they are common but you can't get them from a single vendor. 888 00:53:45,120 --> 00:53:47,680 There's a global brand called Smiggle. Right? 889 00:53:47,760 --> 00:53:49,240 - Yes. - It's a famous brand. 890 00:53:49,320 --> 00:53:51,280 I saw their products 891 00:53:51,360 --> 00:53:55,080 and they are better quality-wise. So what could they be doing? 892 00:53:55,160 --> 00:53:57,160 Sir, the price point we are targeting 893 00:53:57,280 --> 00:53:59,360 doesn't allow us to pitch premium products. 894 00:54:06,680 --> 00:54:08,240 So one product costs Rs. 500 895 00:54:08,320 --> 00:54:09,360 - approximately. - Yes! 896 00:54:09,440 --> 00:54:11,760 Your business is a success. 897 00:54:11,840 --> 00:54:13,520 So why didn't we come across your brand? 898 00:54:13,600 --> 00:54:15,760 Why don't people know about Toyshine? 899 00:54:15,920 --> 00:54:17,800 We haven't done branding and marketing. 900 00:54:17,880 --> 00:54:19,760 He didn't do marketing but I think 901 00:54:19,840 --> 00:54:22,360 he has focused on important issues the consumers face. 902 00:54:22,480 --> 00:54:25,040 Consumer experiences like the product, price 903 00:54:25,120 --> 00:54:27,600 and post-purchase too. 904 00:54:27,720 --> 00:54:29,360 It means there is potential in your business. 905 00:54:30,280 --> 00:54:31,720 I like you 906 00:54:31,800 --> 00:54:33,240 and you have made a successful business. 907 00:54:33,320 --> 00:54:36,400 Very few entrepreneurs in India grow their businesses to this level. 908 00:54:36,760 --> 00:54:38,440 I liked that part 909 00:54:38,520 --> 00:54:41,520 but I don't think you stand out as a brand. At least I feel that way. 910 00:54:43,280 --> 00:54:45,720 Lastly, I find your valuation significantly more 911 00:54:45,800 --> 00:54:47,360 and even if I get 0.5%, 912 00:54:47,440 --> 00:54:49,080 I'm not sure when I'll get returns. 913 00:54:49,160 --> 00:54:51,400 So I'm not comfortable as an investor. 914 00:54:52,800 --> 00:54:54,920 For these reasons, I'm out today. 915 00:54:56,520 --> 00:54:58,480 I liked your mission. 916 00:54:58,560 --> 00:55:01,600 Make in India is our mission too. 917 00:55:01,680 --> 00:55:04,440 Please continue doing that. And secondly, 918 00:55:04,520 --> 00:55:07,160 you are running a commoditised business currently 919 00:55:07,280 --> 00:55:08,720 so focus on brand building. 920 00:55:08,800 --> 00:55:12,400 Do something that makes people buy your brand Toyshine. 921 00:55:12,480 --> 00:55:14,360 So I'm out for now. 922 00:55:14,600 --> 00:55:16,520 [epic music] 923 00:55:16,600 --> 00:55:18,240 Firstly, congratulations! 924 00:55:18,360 --> 00:55:20,960 Doing sales of Rs. 45 crores isn't a joke. 925 00:55:21,720 --> 00:55:23,880 But personally, I don't find 926 00:55:23,960 --> 00:55:27,000 uniqueness in the designs. 927 00:55:27,080 --> 00:55:29,360 [dramatic music] 928 00:55:29,440 --> 00:55:31,240 It's a cluttered market 929 00:55:31,320 --> 00:55:34,240 so it's quite difficult to aim for growth in sales. 930 00:55:34,320 --> 00:55:37,240 I agree with Aman that you didn't spend enough on marketing. 931 00:55:37,320 --> 00:55:39,320 Maybe that's something you should focus on. 932 00:55:41,160 --> 00:55:43,600 - I wish you the best but I'm out. - Thank you! 933 00:55:43,680 --> 00:55:45,160 I think the challenge is 934 00:55:45,280 --> 00:55:47,240 that with the increase in the local quality 935 00:55:47,320 --> 00:55:48,560 and the increase in the number of distributors, 936 00:55:48,640 --> 00:55:52,000 the gatekeepers like Hamleys, Amazon 937 00:55:52,120 --> 00:55:54,960 and FirstCry will squeeze on your profit. Right? 938 00:55:55,040 --> 00:55:56,520 And your margins will keep decreasing. 939 00:55:56,840 --> 00:56:01,240 So unless and until you create an intellectual property like 940 00:56:01,360 --> 00:56:04,960 a pull product that establishes your identity, 941 00:56:05,040 --> 00:56:08,160 you'd struggle to generate margins. 942 00:56:08,360 --> 00:56:09,720 So that's the problem for me 943 00:56:09,800 --> 00:56:11,640 and for this reason, I'm out. 944 00:56:11,760 --> 00:56:13,600 [dramatic music] 945 00:56:13,720 --> 00:56:15,440 You are right 946 00:56:15,720 --> 00:56:17,560 in focusing on inputs. 947 00:56:17,640 --> 00:56:19,320 I have observed that Indian brands 948 00:56:19,400 --> 00:56:21,560 earn a maximum of 40, 45, 50 and up to 100. 949 00:56:21,680 --> 00:56:24,040 The brands stop at the threshold of Rs. 100 crores. 950 00:56:24,360 --> 00:56:26,440 This situation isn't limited to you. 951 00:56:26,720 --> 00:56:29,360 The journey that starts from here is a different journey altogether. 952 00:56:29,480 --> 00:56:30,880 [tense music] 953 00:56:30,960 --> 00:56:33,320 You will have to choose. You may continue this way 954 00:56:33,400 --> 00:56:35,400 to grow your business to reach Rs. 200 crores. 955 00:56:35,640 --> 00:56:39,040 If you want a particular valuation, what will it be for? 956 00:56:39,840 --> 00:56:41,440 - Sir, the valuation... - You need to build a brand, right? 957 00:56:41,560 --> 00:56:43,080 All of them gave you their feedback. 958 00:56:43,160 --> 00:56:44,760 You must form a team to build a brand. 959 00:56:44,840 --> 00:56:47,760 Your products lack differentiation as of now. 960 00:56:48,000 --> 00:56:49,480 Okay? They lack finesse. 961 00:56:49,560 --> 00:56:51,880 A brand needs detailing which is lacking. 962 00:56:51,960 --> 00:56:53,120 You possess other inputs. 963 00:56:53,200 --> 00:56:56,200 I think you need to work a lot on branding. I'm out for now 964 00:56:56,520 --> 00:56:58,560 because I don't see an exit. 965 00:56:59,040 --> 00:57:00,160 - Thanks, Rohit! - Thanks! 966 00:57:00,240 --> 00:57:02,640 - Alright, thank you! - Thanks for coming to Shark Tank. 967 00:57:02,720 --> 00:57:04,240 - All the best. - Bye!