1 00:00:42,920 --> 00:00:45,760 [music playing] 2 00:00:53,280 --> 00:00:54,840 - Jeez! - Ho! 3 00:01:02,000 --> 00:01:03,280 Aman, don't be scared. 4 00:01:04,040 --> 00:01:06,920 If it turns out to be Peyush, he will be scared. 5 00:01:08,640 --> 00:01:11,440 Shark Tank seems scripted to me. 6 00:01:11,640 --> 00:01:12,800 [chuckles] 7 00:01:13,520 --> 00:01:16,960 How can someone decide to invest 50 lakhs in ten minutes? 8 00:01:17,120 --> 00:01:18,880 [laughs] 9 00:01:19,800 --> 00:01:22,480 Do they pay or does the channel pay? 10 00:01:23,440 --> 00:01:25,760 That's alright. But tell me, 11 00:01:25,920 --> 00:01:28,240 did Anupam really invest in 200 companies? 12 00:01:28,320 --> 00:01:29,840 [laughs] 13 00:01:30,520 --> 00:01:32,760 I find Peyush to be amazing. 14 00:01:32,960 --> 00:01:35,680 He markets his spectacles well in every episode. 15 00:01:35,800 --> 00:01:37,680 [laughs] 16 00:01:38,720 --> 00:01:41,920 And Aman will hire everyone if possible. 17 00:01:42,040 --> 00:01:43,600 [laughs] 18 00:01:44,040 --> 00:01:44,960 Who are they? 19 00:01:45,600 --> 00:01:46,720 Oh, nice! 20 00:01:48,960 --> 00:01:50,400 Alright. 21 00:01:50,720 --> 00:01:51,960 Welcome to the Hood. 22 00:01:52,080 --> 00:01:54,760 Imagine a world where 23 00:01:55,080 --> 00:01:57,480 you can say discuss anything freely. 24 00:01:58,440 --> 00:02:00,040 Introducing the Hood app. 25 00:02:00,120 --> 00:02:02,360 [music playing] 26 00:02:02,640 --> 00:02:04,400 Hood is a pseudonymous social network. 27 00:02:12,440 --> 00:02:14,240 Sharks, I'm Jasveer. 28 00:02:14,360 --> 00:02:15,360 I'm Abhishek Asthana. 29 00:02:15,440 --> 00:02:17,560 - And I'm Deepak Kumar. - We are from Gurgaon. 30 00:02:20,600 --> 00:02:22,360 are anonymous groups. 31 00:02:23,280 --> 00:02:25,600 You can create a group for your company, 32 00:02:25,680 --> 00:02:27,720 college, or any interest. 33 00:02:27,840 --> 00:02:29,520 Another important factor is that 34 00:02:29,640 --> 00:02:32,360 your data is end-to-end encrypted on this app. 35 00:02:36,000 --> 00:02:38,640 will remain completely confidential, safe, and secure. 36 00:02:40,080 --> 00:02:42,280 We want to make Hood a global platform where 37 00:02:42,400 --> 00:02:44,880 you can share whatever you wish 38 00:02:44,960 --> 00:02:46,760 and people will value-drive it. 39 00:03:02,240 --> 00:03:04,080 - What's the valuation? - 600 crores. 40 00:03:04,480 --> 00:03:05,840 Ah! 41 00:03:10,560 --> 00:03:13,040 - Certainly. - That's the beauty of it. 42 00:03:15,760 --> 00:03:18,120 - Welcome to Shark Tank. - Thanks. 43 00:03:18,400 --> 00:03:20,480 Your entry 44 00:03:20,800 --> 00:03:23,160 - was brilliant! - Thank you so much. 45 00:03:23,240 --> 00:03:25,200 It's evident that you are drama kings. 46 00:03:25,840 --> 00:03:27,680 Fully dramatic! 47 00:03:30,720 --> 00:03:34,520 My name is Jasveer. I'm from Etah, UP. 48 00:03:35,560 --> 00:03:38,040 I was always good at academics. Math was my forte. 49 00:03:38,200 --> 00:03:40,000 I completed B.Sc in mathematics. 50 00:03:40,920 --> 00:03:44,880 My family and relative's mindset have always been backward. 51 00:03:44,960 --> 00:03:46,640 There was nobody to guide me. 52 00:03:48,520 --> 00:03:51,280 I was good with numbers. So, I decided 53 00:03:51,640 --> 00:03:54,240 my way ahead and that's how 54 00:03:55,760 --> 00:03:57,320 my entrepreneurship journey started. 55 00:03:58,520 --> 00:04:00,080 I built two big companies. 56 00:04:00,360 --> 00:04:02,680 And I made an exit with 9-10 crores. 57 00:04:02,800 --> 00:04:04,480 And I worked hard 58 00:04:04,640 --> 00:04:06,400 and now my only motive 59 00:04:06,720 --> 00:04:08,800 is to grow Hood. 60 00:04:08,920 --> 00:04:10,600 [music playing] 61 00:04:11,040 --> 00:04:12,960 - This company, Hood. - Yes. 62 00:04:13,240 --> 00:04:15,200 Is this Zorro rebranded? 63 00:04:15,280 --> 00:04:16,800 Yes. 64 00:04:16,920 --> 00:04:19,480 Many people invested in Zorro. 65 00:04:23,720 --> 00:04:26,280 - Yes, I'll tell you my story. - Is that you? Share your story. 66 00:04:26,360 --> 00:04:28,320 [music playing] 67 00:04:30,160 --> 00:04:32,280 I'm Abhishek from Lucknow. 68 00:04:32,440 --> 00:04:35,480 Earlier, I used to write blogs under the pseudonym Gabbar Singh. 69 00:04:35,960 --> 00:04:37,400 When I had to delete it, 70 00:04:37,560 --> 00:04:41,080 I realised that my account was growing fast. 71 00:04:43,360 --> 00:04:44,840 [music playing] 72 00:04:45,000 --> 00:04:46,920 I decided to stop blogging 73 00:04:47,120 --> 00:04:48,440 and start tweeting. 74 00:04:49,320 --> 00:04:51,120 Before going more involved in tweets and trolls, 75 00:04:51,200 --> 00:04:52,320 I studied hard. 76 00:04:52,400 --> 00:04:54,600 I completed my engineering and went on to do MBA. 77 00:04:56,240 --> 00:04:59,200 I worked with many good companies. 78 00:04:59,360 --> 00:05:02,360 But there is nothing more satisfying than running your own company. 79 00:05:03,960 --> 00:05:05,840 You had trolled Shark Tank too. 80 00:05:06,000 --> 00:05:07,560 [laughs] 81 00:05:07,680 --> 00:05:09,280 Yes, I remember. 82 00:05:09,520 --> 00:05:11,000 Look, humour and 83 00:05:11,080 --> 00:05:12,760 - sarcasm is acceptable. - No, it wasn't humour. 84 00:05:12,800 --> 00:05:14,000 Shall we read the tweet? 85 00:05:14,040 --> 00:05:15,560 [laughs] 86 00:05:21,840 --> 00:05:22,760 Good one! 87 00:05:22,880 --> 00:05:24,320 We're the Dobermann today. 88 00:05:24,480 --> 00:05:26,360 [laughs] 89 00:05:30,120 --> 00:05:31,680 So, the app was your idea. 90 00:05:31,800 --> 00:05:33,080 No, it was ours. 91 00:05:33,160 --> 00:05:34,040 You tell me. 92 00:05:34,360 --> 00:05:36,240 [music playing] 93 00:05:36,840 --> 00:05:37,960 My name is Deepak. 94 00:05:39,480 --> 00:05:40,840 Coding is my job. 95 00:05:40,960 --> 00:05:42,920 It gets work done in a jiffy. 96 00:05:45,680 --> 00:05:48,160 I'm from Jammu. We don't have internet there. 97 00:05:48,400 --> 00:05:50,360 Similarly, there's no coder like me. 98 00:05:50,520 --> 00:05:52,120 [music playing] 99 00:05:53,120 --> 00:05:54,840 Basically, during the lockdown, 100 00:05:54,960 --> 00:05:56,600 I took an exit and later, 101 00:05:56,680 --> 00:05:58,200 I started working on a project. 102 00:05:58,320 --> 00:06:00,160 It was Dot Review. It was just for fun. 103 00:06:11,600 --> 00:06:13,680 You can learn anything 104 00:06:13,760 --> 00:06:15,360 about the investors. 105 00:06:15,600 --> 00:06:18,760 In that, we built a community called founder forum. 106 00:06:18,840 --> 00:06:20,680 A place where founders can discuss anything. 107 00:06:20,760 --> 00:06:23,320 For example, if someone's girlfriend 108 00:06:23,520 --> 00:06:25,040 gives a choice between launching a startup and continue dating. 109 00:06:25,120 --> 00:06:26,160 [music playing] 110 00:06:30,880 --> 00:06:33,480 Is this a discussion forum or a gossip forum? 111 00:06:33,560 --> 00:06:35,760 No, it's a discussion forum but realistic examples 112 00:06:35,840 --> 00:06:38,240 where an investor asks you to focus on growth. 113 00:06:39,040 --> 00:06:40,640 This is a better example. 114 00:06:40,720 --> 00:06:44,480 During that period, we noticed high engagement. 115 00:06:45,440 --> 00:06:48,000 And I always wanted to work on a large-scale project. 116 00:06:48,080 --> 00:06:50,600 Since 2012. To make something really big. 117 00:06:50,800 --> 00:06:53,560 I felt that this problem 118 00:06:53,760 --> 00:06:55,080 is not limited to founders alone. 119 00:06:55,160 --> 00:06:56,760 That's when we met Abhishek in Gurgaon. 120 00:06:56,840 --> 00:06:57,840 We discussed the idea. 121 00:06:57,920 --> 00:07:00,920 And Abhishek already runs a pseudonymous account on Twitter. 122 00:07:01,200 --> 00:07:02,920 So, we brainstormed 123 00:07:03,000 --> 00:07:04,920 and took almost 3-4 months 124 00:07:05,000 --> 00:07:06,600 to find out the problems 125 00:07:06,760 --> 00:07:08,320 and the reason behind it. 126 00:07:08,480 --> 00:07:10,880 After that, we decided on the name. 127 00:07:11,160 --> 00:07:13,320 - Zorro. - Yes, Zorro. 128 00:07:13,400 --> 00:07:14,480 Remember, 'Mask of Zorro'? 129 00:07:14,560 --> 00:07:15,680 That's the inspiration for the name. 130 00:07:15,760 --> 00:07:18,320 Okay, this is an anonymous platform 131 00:07:18,400 --> 00:07:21,400 for everybody to talk about anything under the sun. 132 00:07:21,680 --> 00:07:22,800 Period. 133 00:07:23,960 --> 00:07:25,480 Can you explain it further? 134 00:07:25,600 --> 00:07:26,960 What do you mean by anonymous? 135 00:07:27,040 --> 00:07:28,400 What do you mean by pseudonymous? 136 00:07:28,480 --> 00:07:31,560 Anonymous means not knowing the name or identity. 137 00:07:31,800 --> 00:07:33,320 Similarly, on our platform, 138 00:07:33,440 --> 00:07:35,000 if you have a company 139 00:07:35,240 --> 00:07:37,440 and create a private group joined by 40 people. 140 00:07:37,520 --> 00:07:40,040 Now, those 40 people in the group 141 00:07:40,120 --> 00:07:42,200 you're aware that they belong to your company. 142 00:07:42,800 --> 00:07:44,560 But, you won't know the exact identity. 143 00:07:44,720 --> 00:07:45,960 So, this is pseudonymity. 144 00:07:46,360 --> 00:07:47,880 Yours is anonymous. 145 00:07:48,040 --> 00:07:49,560 We have a pseudonymous platform. 146 00:07:49,640 --> 00:07:52,320 When you join us, groups are our best feature. 147 00:07:52,560 --> 00:07:53,920 Let me share some examples. 148 00:07:54,000 --> 00:07:56,520 - Show us the product. - Yes. 149 00:07:58,360 --> 00:08:00,000 When you join, 150 00:08:00,080 --> 00:08:01,480 it asks you for 151 00:08:01,760 --> 00:08:03,080 an OTP. 152 00:08:03,200 --> 00:08:04,600 I will add my number. 153 00:08:05,760 --> 00:08:07,840 It's a simple process. 154 00:08:11,120 --> 00:08:13,880 We assign you a unique username. 155 00:08:14,000 --> 00:08:15,320 You can change it, by the way. 156 00:08:15,400 --> 00:08:17,800 Why did you sync the contact number? You're anonymous. 157 00:08:17,960 --> 00:08:19,360 That's the point of being pseudonymous. 158 00:08:19,440 --> 00:08:21,120 If I sync my contact number, 159 00:08:21,200 --> 00:08:23,520 I know that I will find people in my contact. 160 00:08:23,800 --> 00:08:26,120 - It's a pseudonymous network. - So, you will talk to them. 161 00:08:26,200 --> 00:08:28,520 - Yes, you can choose that. - Yes, it's your choice. 162 00:08:29,600 --> 00:08:31,000 On top, there's a Hot on Hood feature. 163 00:08:31,120 --> 00:08:32,520 Trending topics on Twitter, 164 00:08:32,640 --> 00:08:35,480 you can like or dislike things. 165 00:08:35,880 --> 00:08:38,880 Groups created by you 166 00:08:38,960 --> 00:08:41,240 or joined by you will appear in Your Groups category. 167 00:08:41,320 --> 00:08:43,400 The popular groups come under the Hot Groups category. 168 00:08:43,480 --> 00:08:46,600 Basically, there's a salary comparison group. Let me get in. 169 00:08:47,080 --> 00:08:48,720 Look at what people have shared. 170 00:08:49,400 --> 00:08:51,360 I work in SBI and earn more than 70,000 171 00:08:51,440 --> 00:08:53,160 per month and other perks like petrol, furniture. 172 00:08:53,240 --> 00:08:55,920 People have questioned whether they should pursue MBA or not. 173 00:08:56,000 --> 00:08:57,640 People have answered it too. 174 00:08:58,000 --> 00:08:59,280 How many people have answered it? 175 00:08:59,360 --> 00:09:01,920 - There are 20 comments. - 20 is less! 176 00:09:02,320 --> 00:09:05,160 We've just launched and not even started marketing it. 177 00:09:06,560 --> 00:09:08,280 So, we launched in June. 178 00:09:11,520 --> 00:09:15,040 Because we see that anonymity is the virality. 179 00:09:15,160 --> 00:09:16,520 - We don't need to push it. - Okay. 180 00:09:16,600 --> 00:09:18,520 So, we know that the product will take off. 181 00:09:19,240 --> 00:09:21,480 After June, we did minimal marketing 182 00:09:21,680 --> 00:09:25,000 and within 45 days 183 00:09:39,720 --> 00:09:41,480 You didn't cover India yet. But you're jumping to the US. 184 00:09:41,560 --> 00:09:44,280 After 10 million, we will target the second market. 185 00:09:46,080 --> 00:09:48,280 What makes you come to a valuation of 600 crores? 186 00:09:49,400 --> 00:09:51,240 Look at the velocity of our growth. 187 00:09:51,320 --> 00:09:53,440 We had 500k users in 45 days. 188 00:09:55,360 --> 00:09:57,840 We have raised 3.2 million or 23 crores already. 189 00:10:02,840 --> 00:10:05,080 - What was the valuation for the last round? - 112 crores. 190 00:10:05,120 --> 00:10:06,360 112 crores. 191 00:10:10,840 --> 00:10:11,440 Be quick. 192 00:10:11,640 --> 00:10:13,760 Globally, the valuation of all the products that exist 193 00:10:13,840 --> 00:10:15,440 depends on two factors. 194 00:10:15,680 --> 00:10:16,680 Okay. 195 00:10:17,160 --> 00:10:18,600 Speed of growth. 196 00:10:18,800 --> 00:10:20,760 - And... - Velocity and time. 197 00:10:20,840 --> 00:10:22,920 The size of the target market 198 00:10:23,000 --> 00:10:24,240 - and the velocity of your growth. - Okay. 199 00:10:34,760 --> 00:10:38,680 So, there's no point in talking about revenue and profit. 200 00:10:38,800 --> 00:10:40,120 - Let's talk about users. - Yes. 201 00:10:40,200 --> 00:10:41,840 - Okay, thank you. - Certainly. 202 00:10:41,920 --> 00:10:45,160 How many groups do you have and how many are onboarding yet? 203 00:10:45,240 --> 00:10:47,880 We have 5000 groups on the platform as of now. 204 00:10:48,040 --> 00:10:49,400 Total users? 205 00:10:49,480 --> 00:10:51,840 Around 7.5 lakh users as of now. 206 00:10:55,320 --> 00:10:57,800 - So, how much is that? - Around 2.40 lakhs. 207 00:10:57,880 --> 00:11:01,280 - How many daily active users? - 60,000. 208 00:11:25,880 --> 00:11:27,200 to 1,800 new posts. 209 00:11:27,280 --> 00:11:28,640 I think it is close to 5 or 6. 210 00:11:29,320 --> 00:11:30,200 That's it? 211 00:11:30,280 --> 00:11:32,840 On average. Some get a zero response and others get more. 212 00:11:35,200 --> 00:11:37,160 Just 6 responses. You need more traction per post 213 00:11:37,240 --> 00:11:39,040 to achieve product-market fit. 214 00:11:41,080 --> 00:11:43,200 Let me tell you honestly. The thing is, 215 00:11:43,320 --> 00:11:46,240 because of growth in the last 45 days, the numbers aren't exact. 216 00:11:47,080 --> 00:11:49,480 To tell you the average figure right now 217 00:11:49,600 --> 00:11:51,840 could be for one-month-old data. 218 00:11:52,600 --> 00:11:54,480 The way we are growing now, 219 00:11:54,560 --> 00:11:57,440 our data after two months would be entirely different. 220 00:11:57,520 --> 00:11:59,440 I don't like your answer. 221 00:12:00,760 --> 00:12:02,560 If you are doing social networking, 222 00:12:02,640 --> 00:12:05,320 the most important things are the responses 223 00:12:05,400 --> 00:12:07,960 and engagement ratio for a particular post. Right? 224 00:12:09,080 --> 00:12:12,040 You don't have a product-market fit until your post 225 00:12:12,280 --> 00:12:13,480 gets tremendous engagement. 226 00:12:13,720 --> 00:12:16,960 You run Gabbar Singh's page on Twitter. How many likes do you get 227 00:12:17,040 --> 00:12:18,240 on one post? 228 00:12:18,640 --> 00:12:20,280 Around... 229 00:12:20,480 --> 00:12:23,560 - Please share the figures. - We get 60 to 70 replies at least. 230 00:12:25,320 --> 00:12:27,880 If we compare this platform, these numbers are minuscule. 231 00:12:27,960 --> 00:12:30,440 There is a reason. Actually, we are still growing on this platform. 232 00:12:30,520 --> 00:12:32,920 Amit, basically, they want to say that they are new 233 00:12:33,080 --> 00:12:36,200 - and it will happen later. - Please don't be overconfident. 234 00:12:37,800 --> 00:12:41,120 You need to slog. It's too tough to create a social network. 235 00:12:41,240 --> 00:12:42,520 - Very few people have succeeded. - Yes! 236 00:12:42,600 --> 00:12:43,760 - That's right. - That's true. 237 00:12:43,880 --> 00:12:46,200 The way you are portraying it, 238 00:12:46,280 --> 00:12:47,880 I think you need to rethink. 239 00:12:47,960 --> 00:12:51,520 I agree it's tough. That's why we came here. I'm visiting colleges. 240 00:12:51,600 --> 00:12:54,040 Next week, I'm going to IIM Ahmedabad to tell them 241 00:12:54,240 --> 00:12:55,680 about our future course of action. 242 00:12:55,760 --> 00:12:57,560 You are compelled to go to colleges 243 00:12:57,640 --> 00:12:59,720 to market yourself. Don't you think there's something amiss 244 00:12:59,800 --> 00:13:01,440 as a social network company 245 00:13:01,520 --> 00:13:05,040 is compelled to go to a college to market its platform? 246 00:13:06,920 --> 00:13:08,920 I'm not marketing. I'm going there to give a lecture. 247 00:13:09,000 --> 00:13:10,440 But why? 248 00:13:10,520 --> 00:13:12,280 If your platform is capable enough, 249 00:13:12,520 --> 00:13:13,640 it should go viral. 250 00:13:14,600 --> 00:13:16,640 Please tell me how you plan 251 00:13:16,720 --> 00:13:18,600 to make your platform go viral as in viral marketing. 252 00:13:18,680 --> 00:13:22,280 What are the features you have thought of to make it go viral? 253 00:13:22,440 --> 00:13:23,680 Proof, basically. 254 00:13:24,520 --> 00:13:27,120 Suppose a company has 20 employees in a group. 255 00:13:27,360 --> 00:13:29,160 When 20 people interact with each other, 256 00:13:29,240 --> 00:13:30,920 the 21st person 257 00:13:31,000 --> 00:13:33,960 would be compelled to join because of the fear of missing out. 258 00:13:34,040 --> 00:13:36,400 - His question is how you will attract them. - I'll ask you again. 259 00:13:36,480 --> 00:13:37,800 Simply answer his question. 260 00:13:37,920 --> 00:13:39,200 What is the viral coefficient? 261 00:13:46,040 --> 00:13:49,240 Virality coefficient... There's one person who will attract three more. 262 00:13:49,520 --> 00:13:51,600 - Does he attract as of now? - Yes, as of now. 263 00:13:51,840 --> 00:13:53,920 Your growth should have gone through the roof. 264 00:13:54,000 --> 00:13:56,520 You said that you have a particular number of downloads. 265 00:13:56,960 --> 00:13:58,520 You should have been way ahead. 266 00:13:58,600 --> 00:14:00,920 The numerator is less as our reach is limited. 267 00:14:01,000 --> 00:14:02,640 Not many people know about this app. 268 00:14:02,720 --> 00:14:05,520 Their answer to every question is that they are new. 269 00:14:07,040 --> 00:14:08,040 I think 270 00:14:08,400 --> 00:14:10,840 yours is a pre-product-market fit company. 271 00:14:10,920 --> 00:14:12,240 You have 272 00:14:12,520 --> 00:14:14,560 come here for marketing. 273 00:14:15,760 --> 00:14:17,640 Only for marketing and that's it. 274 00:14:18,800 --> 00:14:22,680 Because asking Rs. 1.2 crores at 0.2% equity is a joke. 275 00:14:24,920 --> 00:14:28,680 Why do you want Sharks? There are already 20 unicorn founders. 276 00:14:29,640 --> 00:14:30,640 I think 277 00:14:30,720 --> 00:14:33,720 you just want to transform your business into a unicorn start-up. 278 00:14:34,160 --> 00:14:35,880 That's your only purpose. 279 00:14:36,200 --> 00:14:38,040 Anonymous networks are dead. 280 00:14:38,480 --> 00:14:41,440 No government in the world will allow anonymous networks 281 00:14:41,600 --> 00:14:42,640 except the dark web. 282 00:14:42,720 --> 00:14:44,320 [sweeping music] 283 00:14:44,720 --> 00:14:46,960 Pseudonymous networks already exist 284 00:14:47,120 --> 00:14:49,400 in the form of Twitter, Facebook, 285 00:14:49,600 --> 00:14:50,840 Instagram, 286 00:14:50,920 --> 00:14:51,920 Quora 287 00:14:52,080 --> 00:14:53,080 and Reddit. 288 00:14:53,200 --> 00:14:54,200 There is no use case 289 00:14:54,640 --> 00:14:56,240 so I'm out. Good luck! 290 00:14:58,560 --> 00:15:01,480 You asked for a valuation of Rs. 600 crores. 291 00:15:02,080 --> 00:15:04,880 First, you need a reality check. 292 00:15:06,240 --> 00:15:09,760 What your valuation is and what your value proposition is. 293 00:15:10,680 --> 00:15:14,040 Your answer to every question is, "we are still new" 294 00:15:14,280 --> 00:15:16,200 but you want a valuation of Rs. 600 crores. 295 00:15:16,520 --> 00:15:19,720 Your mind is full 296 00:15:19,960 --> 00:15:21,280 of misconceptions. 297 00:15:21,400 --> 00:15:23,080 [sweeping music] 298 00:15:23,480 --> 00:15:26,720 And for that reason, I don't want to be a part of your journey 299 00:15:27,000 --> 00:15:27,960 - and I'm out. - Thank you! 300 00:15:28,040 --> 00:15:29,760 [dramatic music] 301 00:15:30,000 --> 00:15:34,760 No viral social network has been made in India till now. 302 00:15:35,360 --> 00:15:37,480 It doesn't mean it won't be built in the future. 303 00:15:37,560 --> 00:15:39,520 I want to know the action plan 304 00:15:39,600 --> 00:15:40,920 that would help you succeed. 305 00:15:41,000 --> 00:15:42,640 I think our determination 306 00:15:42,760 --> 00:15:43,800 and 307 00:15:43,880 --> 00:15:45,640 our mission 308 00:15:45,760 --> 00:15:48,120 which we have been trying to achieve for the last ten years. 309 00:15:48,200 --> 00:15:49,680 We have a great team. 310 00:15:50,800 --> 00:15:54,840 We have been working for 12 years and we write daily on our page. 311 00:15:54,920 --> 00:15:57,440 We saw everyone's experiences and read their comments. 312 00:15:57,640 --> 00:16:00,080 We used our learning to build this. 313 00:16:00,920 --> 00:16:02,560 After we launched in June, 314 00:16:02,880 --> 00:16:04,760 we had nearly 1 lakh users. 315 00:16:05,080 --> 00:16:06,280 If you check today, 316 00:16:06,440 --> 00:16:08,640 we have grown seven times in 45 days. 317 00:16:10,000 --> 00:16:11,040 I got your point. 318 00:16:11,120 --> 00:16:13,320 Please tell them your decision. I'll get back to them. 319 00:16:13,400 --> 00:16:14,600 I had a conviction about your idea. 320 00:16:14,680 --> 00:16:16,760 [dramatic music] 321 00:16:16,840 --> 00:16:17,680 But 322 00:16:19,120 --> 00:16:21,680 the thing is, I don't see humility in you. 323 00:16:21,760 --> 00:16:24,560 A founder is humble enough to learn. 324 00:16:25,240 --> 00:16:28,440 I asked you a relevant question about your virality coefficient. 325 00:16:28,560 --> 00:16:31,600 You don't know it but you keep repeating that you grew seven times. 326 00:16:31,800 --> 00:16:33,520 Please don't be in a state of euphoria. 327 00:16:33,680 --> 00:16:36,520 Please slow down. You must check the right figures daily. 328 00:16:36,600 --> 00:16:38,000 If you don't check these figures daily, 329 00:16:38,080 --> 00:16:40,200 you won't be able to build a network. 330 00:16:41,400 --> 00:16:43,120 For these reasons, I want to be out 331 00:16:43,360 --> 00:16:44,520 but I wish you all the best. 332 00:16:44,600 --> 00:16:46,680 Thank you. [sweeping music] 333 00:16:47,120 --> 00:16:48,280 I liked all of you. 334 00:16:50,960 --> 00:16:52,240 Anupam commented something 335 00:16:52,320 --> 00:16:53,720 but I don't agree with him. 336 00:16:53,800 --> 00:16:54,800 He said 337 00:16:55,000 --> 00:16:58,160 that you are in a hurry to become a unicorn start-up. That's harmless. 338 00:16:59,160 --> 00:17:00,800 I don't think you're overconfident. 339 00:17:01,000 --> 00:17:04,480 I think you're confident and confidence is not a bad thing. 340 00:17:04,600 --> 00:17:07,760 [dramatic music] 341 00:17:07,840 --> 00:17:09,600 But a valuation of Rs. 600 crores is beyond my comprehension. 342 00:17:09,680 --> 00:17:11,960 [dramatic music] 343 00:17:12,320 --> 00:17:13,520 Who is the CEO? 344 00:17:13,800 --> 00:17:14,720 I'm the CEO. 345 00:17:18,120 --> 00:17:19,320 Aman, what is your opinion? 346 00:17:19,440 --> 00:17:20,680 I want to invest. 347 00:17:22,440 --> 00:17:23,600 I want to invest too 348 00:17:23,680 --> 00:17:26,280 but I have a concern. I won't reprice this company. 349 00:17:28,800 --> 00:17:30,440 I can come as a part of the last round. 350 00:17:30,520 --> 00:17:32,080 Yes. Me too! 351 00:17:33,760 --> 00:17:35,960 I know that your concepts aren't stable right now. 352 00:17:37,120 --> 00:17:39,160 Aman and I will discuss the figures 353 00:17:39,320 --> 00:17:41,880 but that's our only condition. There's no other condition. 354 00:17:42,120 --> 00:17:44,400 [dramatic music] 355 00:17:47,400 --> 00:17:50,880 The way Aman welcomed you to Shark Tank, 356 00:17:51,120 --> 00:17:52,920 I didn't expect he'd make an offer. 357 00:17:53,000 --> 00:17:54,360 It's like 358 00:17:54,560 --> 00:17:56,440 a complete U-Turn. 359 00:17:58,160 --> 00:18:01,200 Aman and I will give you Rs. 60 lakhs 360 00:18:01,320 --> 00:18:03,560 for equity. Each of us will give you Rs. 30 lakhs. 361 00:18:04,640 --> 00:18:07,640 We'll give you Rs. 60 lakhs debt as and when you need. 362 00:18:08,400 --> 00:18:10,120 The interest rate for the debt would be 12%. 363 00:18:10,200 --> 00:18:12,000 We'll match the valuation of the last round 364 00:18:12,080 --> 00:18:14,080 which means approximately 0.54% equity. 365 00:18:20,560 --> 00:18:23,120 - Okay. Can we buy one minute? - Hurry up! 366 00:18:23,200 --> 00:18:24,160 Alright. 367 00:18:27,760 --> 00:18:29,880 How can they take debt? They don't earn money. 368 00:18:31,280 --> 00:18:33,880 If we accept as per the last round, it'd be difficult to raise again. 369 00:18:33,960 --> 00:18:36,400 It's a small amount. We can recover through marketing. 370 00:18:36,960 --> 00:18:38,800 There is a chance that it's refused. 371 00:18:39,000 --> 00:18:42,280 Before coming to Shark Tank, they had a past. 372 00:18:42,480 --> 00:18:45,080 Now if he is trying to do something new, 373 00:18:45,400 --> 00:18:47,440 I just wanted to help. I felt nice about it. 374 00:18:47,520 --> 00:18:49,240 And I had a liking for them. 375 00:18:49,400 --> 00:18:50,880 You had a calling. 376 00:18:52,080 --> 00:18:54,200 [dramatic music] 377 00:18:55,680 --> 00:18:58,880 Thank you, Peyush and Aman. 378 00:19:22,440 --> 00:19:23,920 - Thank you, guys. - Best of luck! 379 00:19:25,600 --> 00:19:27,000 Bye! Thank you, everyone! 380 00:21:39,280 --> 00:21:40,880 [motivational music] 381 00:21:41,640 --> 00:21:43,200 It was in July. 382 00:21:43,520 --> 00:21:45,200 I wanted to apply for Shark Tank. 383 00:21:45,640 --> 00:21:48,480 I missed the deadline of 12 am. 384 00:21:48,880 --> 00:21:52,400 I had 0.1% hope 385 00:21:52,840 --> 00:21:54,800 so I decided to go ahead. Let's try! 386 00:21:54,880 --> 00:21:57,200 [inspirational music] 387 00:21:58,640 --> 00:22:01,240 'Greetings, Sharks! We are the cofounders of Let's Try.' 388 00:22:01,560 --> 00:22:04,120 'When my son was detected with Thalassaemia Major, ' 389 00:22:04,320 --> 00:22:07,720 'I focused on feeding him healthy snacks.' 390 00:22:09,320 --> 00:22:12,240 'If we get his gene therapy done within ten years, ' 391 00:22:12,400 --> 00:22:14,520 'he can recover fully.' 392 00:22:14,920 --> 00:22:18,680 '- But we needed Rs. 9 crores to Rs. 10 crores for that. - Oh my God!' 393 00:22:20,040 --> 00:22:23,200 'We started everything at my dad's request.' 394 00:22:23,280 --> 00:22:25,280 'He insisted that Goransh must get treatment.' 395 00:22:25,360 --> 00:22:28,920 'We accepted the fact that we might not get Goransh treated.' 396 00:22:29,400 --> 00:22:33,080 'For this reason, we Kalras started Let's Try.' 397 00:22:33,480 --> 00:22:35,520 'Aman, do you want to close it at 12%?' 398 00:22:35,640 --> 00:22:36,680 'I'm ready to do that.' 399 00:22:40,600 --> 00:22:43,400 'Sharks, we accept your deal.' 400 00:22:47,880 --> 00:22:49,960 'It's one of my best deals.' 401 00:22:50,360 --> 00:22:51,760 When our show got aired, 402 00:22:52,040 --> 00:22:54,600 we got responses from all over India. 403 00:23:00,480 --> 00:23:02,720 and also packed them. 404 00:23:08,720 --> 00:23:12,240 We are expanding our set-up. Our operations are up by four times. 405 00:23:12,760 --> 00:23:15,400 Our team comprises 70 members. 406 00:23:15,480 --> 00:23:17,680 Our company reached a valuation of Rs. 60 crores. 407 00:23:24,200 --> 00:23:26,720 and use it for Goransh's treatment. 408 00:23:26,840 --> 00:23:29,840 My entrepreneurship drive is inherited from my mom 100%. 409 00:23:31,760 --> 00:23:36,080 'She built a business from scratch to raise us.' 410 00:23:43,720 --> 00:23:45,760 have been fulfilled now. 411 00:23:47,040 --> 00:23:49,520 I don't remember if I ever hugged my father. 412 00:23:50,440 --> 00:23:52,720 So I recently hugged my mom. 413 00:23:54,440 --> 00:23:57,680 I simply feel that my late father 414 00:23:57,800 --> 00:23:58,960 is 415 00:23:59,600 --> 00:24:00,840 Watching from somewhere above 416 00:24:00,920 --> 00:24:03,360 and he's fulfilling all my wishes. 417 00:24:04,120 --> 00:24:05,840 If your purpose is strong, 418 00:24:05,920 --> 00:24:09,200 you'd try to make effort even after being rejected 419 00:24:09,360 --> 00:24:12,760 99 times. "Let me try once more." 420 00:24:12,880 --> 00:24:15,520 We boarded a flight and the flight's name was Shark Tank. 421 00:24:15,720 --> 00:24:18,200 [mellow music] 422 00:24:19,640 --> 00:24:21,480 [music playing] 423 00:24:30,800 --> 00:24:33,160 [music playing] 424 00:24:42,800 --> 00:24:44,280 - Hello, Sharks! - Greetings! 425 00:24:44,360 --> 00:24:47,880 Whenever we talk about food, our eyes sparkle with joy. 426 00:24:48,000 --> 00:24:49,800 [music playing] 427 00:24:49,920 --> 00:24:51,640 Because food is something 428 00:24:51,760 --> 00:24:54,280 that involves all our senses. 429 00:24:54,360 --> 00:24:56,120 [music playing] 430 00:24:56,200 --> 00:24:59,960 That's why we've brought an interesting experience for you. 431 00:25:00,880 --> 00:25:01,760 Very good! 432 00:25:01,880 --> 00:25:05,320 Whether it's a 5-year-old or an 80-year-old, 433 00:25:05,400 --> 00:25:06,680 everybody loves three things a lot. 434 00:25:06,760 --> 00:25:09,280 Entertainment, entertainment, and entertainment. 435 00:25:10,400 --> 00:25:13,000 We're entertaining and delicious too. 436 00:25:13,120 --> 00:25:14,440 [music playing] 437 00:25:14,520 --> 00:25:16,400 So, Sharks, I'm Manmeet Batra. 438 00:25:27,360 --> 00:25:28,280 Wow. 439 00:25:28,360 --> 00:25:31,440 Our ice creams are made of 100% goat milk. 440 00:25:47,480 --> 00:25:50,520 Our product line is not limited to ice creams. 441 00:25:50,600 --> 00:25:53,720 We make baklavas, middle-eastern and Turkish coffee, 442 00:26:00,280 --> 00:26:03,640 Our journey started in 2016, when we were in Istanbul. 443 00:26:03,720 --> 00:26:06,640 Today, we have 37+ stores in 15+ cities. 444 00:26:06,720 --> 00:26:08,960 - Wow! - Wow. 445 00:26:09,040 --> 00:26:10,120 Our vision 446 00:26:10,200 --> 00:26:13,240 is to take this interesting experience to everyone. 447 00:26:13,320 --> 00:26:16,120 To spread joy in every city. 448 00:26:17,000 --> 00:26:21,200 Sharks, our ask is Rs. 1 crore for 2.5% equity. 449 00:26:36,680 --> 00:26:39,320 We were learning textile design. 450 00:26:39,440 --> 00:26:43,040 And we went to Turkey for a holiday. 451 00:26:43,080 --> 00:26:45,360 And then we got this to India. 452 00:26:45,440 --> 00:26:47,400 - Were your batchmates? - Yes. 453 00:26:47,520 --> 00:26:49,200 We were school friends and 454 00:26:49,280 --> 00:26:50,600 - then we were... - So, you're school friends. 455 00:26:50,680 --> 00:26:51,640 Right, we're childhood friends. 456 00:26:52,760 --> 00:26:55,760 Do you have any other experience? 457 00:26:55,840 --> 00:26:57,040 No, this was the first. 458 00:26:57,120 --> 00:26:58,920 We started at the age of 18. 459 00:26:59,000 --> 00:27:01,040 I was 17 and he was 18. 460 00:27:01,120 --> 00:27:02,640 - Okay. - Wow. 461 00:27:02,720 --> 00:27:06,000 Our spirit was that we have nothing to lose and everything to gain. 462 00:27:07,440 --> 00:27:09,200 - Oh. - India is changing. 463 00:27:09,280 --> 00:27:11,040 That's it! 464 00:27:11,120 --> 00:27:13,760 You started at 17 and 18. We started late. 465 00:27:13,840 --> 00:27:15,000 What's your age now? 466 00:27:15,080 --> 00:27:17,400 As of now, I'm 24 and he's 23. 467 00:27:17,480 --> 00:27:19,040 - Oh! - Wow! 468 00:27:19,680 --> 00:27:24,400 Did you like the ice cream more or the performance? 469 00:27:24,480 --> 00:27:27,080 The performance is a crowd-puller for us. 470 00:27:27,160 --> 00:27:29,880 - Okay. - But in the longer run, 471 00:27:29,960 --> 00:27:33,080 the ice cream is something that we can rely on. 472 00:27:33,160 --> 00:27:36,480 Because our return customer base is dependent on that. 473 00:27:36,560 --> 00:27:38,040 And that is how we grow. 474 00:27:38,120 --> 00:27:39,320 Good thinking. 475 00:27:39,400 --> 00:27:42,120 But when you talk about 37 stores, 476 00:27:42,200 --> 00:27:45,000 are they kiosks in the mall 477 00:27:45,080 --> 00:27:47,400 or proper stores like Haldiram? 478 00:27:47,480 --> 00:27:50,520 Or a dining experience? What's the format? 479 00:27:50,640 --> 00:27:52,280 So, we have three kinds of format. 480 00:27:52,360 --> 00:27:54,320 A kiosk 481 00:27:54,960 --> 00:27:58,560 which ranges from 100 to 200 sq. ft. 482 00:27:58,640 --> 00:28:00,200 Then we have a store format. 483 00:28:00,280 --> 00:28:03,000 It ranges between 250 to 300 sq. ft. 484 00:28:03,080 --> 00:28:04,880 And then we have the cart model 485 00:28:11,040 --> 00:28:13,400 what's the distribution of kiosks, stores, and carts? 486 00:28:13,480 --> 00:28:17,440 25 kiosks, 4 stores, 487 00:28:17,560 --> 00:28:20,120 - and the remaining are carts. - Alright, the remaining. 488 00:28:21,560 --> 00:28:23,640 Earlier, we had to go to Turkey 489 00:28:23,720 --> 00:28:26,160 to enjoy this. 490 00:28:26,240 --> 00:28:29,160 Now, there are videos on social media 491 00:28:29,240 --> 00:28:32,200 - and people must be promoting it. - Yeah, right. 492 00:28:33,440 --> 00:28:35,080 That's how you created the pull. 493 00:28:36,480 --> 00:28:38,280 But, anybody can do it. 494 00:28:39,000 --> 00:28:40,080 Yes, truly. 495 00:28:40,160 --> 00:28:43,200 In Dubai, there are 496 00:28:43,600 --> 00:28:47,120 ten people doing this then how did nobody copy it yet? 497 00:28:47,240 --> 00:28:49,000 [music playing] 498 00:28:49,080 --> 00:28:50,960 In India, we're the pioneers. 499 00:28:51,040 --> 00:28:52,480 We have been doing it from start. 500 00:28:52,600 --> 00:28:55,200 Are you still the only one despite 37 outlets? 501 00:28:55,280 --> 00:28:57,240 [music playing] 502 00:28:57,880 --> 00:28:59,320 Is there no competitor in this market? 503 00:28:59,440 --> 00:29:02,160 There are local brands working in their cities 504 00:29:02,240 --> 00:29:05,040 by purchasing ice creams from local third parties. 505 00:29:05,120 --> 00:29:07,240 So, it's not genuine. 506 00:29:07,320 --> 00:29:09,360 Not using any authentic ice creams. 507 00:29:09,440 --> 00:29:10,840 There's no authenticity. 508 00:29:11,440 --> 00:29:14,600 - We want to have ice cream. - Will you give us ice cream? 509 00:29:14,680 --> 00:29:16,440 Sure, come and experience it. 510 00:29:16,520 --> 00:29:20,480 I'll tell you something surprising. 511 00:29:20,760 --> 00:29:23,440 A few moments back Amit told me 512 00:29:23,640 --> 00:29:26,400 that he used to serve Turkish ice-creams. 513 00:29:26,480 --> 00:29:28,760 [comical music] 514 00:29:28,840 --> 00:29:29,680 Many years ago. 515 00:29:30,800 --> 00:29:32,880 Hello! [foreign language] 516 00:29:32,960 --> 00:29:34,640 He would surely catch hold of it. 517 00:29:34,720 --> 00:29:35,800 He won't be able to. 518 00:29:35,880 --> 00:29:38,600 I guarantee you. He is experienced so he'll surely catch it. 519 00:29:38,680 --> 00:29:39,720 Please show it to me. 520 00:29:39,840 --> 00:29:41,920 [clinking] 521 00:29:43,000 --> 00:29:44,480 I'll be able to catch it. 522 00:29:47,280 --> 00:29:49,280 - This is your ice-cream. - Whoa! 523 00:29:49,400 --> 00:29:52,840 - Won't you serve me? - Jeez! 524 00:29:52,920 --> 00:29:56,080 Yes, baby! Ice-cream! 525 00:29:56,240 --> 00:29:57,680 - Gosh! - Oh! 526 00:29:57,760 --> 00:29:58,720 [clinking] 527 00:29:58,800 --> 00:30:00,200 I got an empty cone. 528 00:30:00,280 --> 00:30:02,680 [laughing] 529 00:30:03,680 --> 00:30:05,320 Oh my God! 530 00:30:05,400 --> 00:30:09,120 - Either you'll serve too much or too less. - Baby, this is your... 531 00:30:10,560 --> 00:30:13,480 I'm sorry! Your ice-cream is this! 532 00:30:15,040 --> 00:30:16,960 [foreign language] 533 00:30:19,760 --> 00:30:22,240 You don't want to serve me the ice-cream. 534 00:30:24,320 --> 00:30:26,840 I'm sorry! This is your ice-cream, sir. 535 00:30:27,200 --> 00:30:29,560 [foreign language] Try! 536 00:30:30,680 --> 00:30:32,760 Try! Try! Yes. Maybe this. 537 00:30:32,880 --> 00:30:34,680 I hope somebody didn't thrash him. 538 00:30:34,760 --> 00:30:36,440 - No. Not until now. - It never happened till now. 539 00:30:36,520 --> 00:30:38,360 We buy life insurance policies for all. 540 00:30:38,440 --> 00:30:39,920 That's good. 541 00:30:40,000 --> 00:30:41,840 [comical music] 542 00:30:41,960 --> 00:30:45,680 If I'm hungry and somebody teases me this way, I'd hit them. 543 00:30:45,760 --> 00:30:47,520 - This is your ice-cream, sir. - Thank you so much! 544 00:30:47,640 --> 00:30:50,200 - Thank you! - Oh my God! 545 00:30:51,360 --> 00:30:53,640 I'll catch your ice-cream in just one attempt. 546 00:30:53,720 --> 00:30:55,880 - Okay, sir. - Please come, sir. 547 00:30:55,960 --> 00:30:57,000 Let's do it. 548 00:30:57,760 --> 00:30:59,160 We'll face each other now. 549 00:30:59,240 --> 00:31:00,640 Let there be a competition. 550 00:31:05,080 --> 00:31:07,120 - Woo-hoo! - All the best! 551 00:31:07,200 --> 00:31:08,840 - Uh-oh! - Ahoy! 552 00:31:09,320 --> 00:31:11,160 Come on, Anupam! 553 00:31:11,240 --> 00:31:13,400 Maybe this. Come on! 554 00:31:13,480 --> 00:31:15,080 Give me the ice-cream! 555 00:31:15,560 --> 00:31:17,120 Uh-oh! 556 00:31:23,960 --> 00:31:25,720 - You won the gift. - Woo-hoo! 557 00:31:25,800 --> 00:31:29,080 Good one! By hook or by crook! 558 00:31:30,840 --> 00:31:32,880 Now I'll get the equity for free, right? 559 00:31:33,720 --> 00:31:34,960 I'll own a cart. 560 00:31:36,200 --> 00:31:38,000 [carnival music] 561 00:31:38,080 --> 00:31:41,080 - The one you served me is rose and pistachio flavour. - Yes. 562 00:31:41,160 --> 00:31:42,880 What other flavour do you have? 563 00:31:42,960 --> 00:31:45,160 - We have more than 45 flavours. - Please serve them. 564 00:31:46,120 --> 00:31:48,760 Rose and pistachio, lemon cookies, 565 00:31:48,840 --> 00:31:51,360 chocolate and honeycomb. Mango and jalapeno. 566 00:31:51,440 --> 00:31:52,880 These are our ice-creams. 567 00:31:52,960 --> 00:31:56,080 As you can see, we have baklavas too. 568 00:31:56,160 --> 00:32:00,000 We also serve Turkish coffee and a range of Middle Eastern teas too. 569 00:32:00,080 --> 00:32:01,760 [upbeat music] 570 00:32:04,800 --> 00:32:06,280 How much does one ice-cream cost? 571 00:32:13,520 --> 00:32:16,040 without experience. 572 00:32:16,120 --> 00:32:19,040 Didn't you face any difficulty in starting your business? 573 00:32:19,120 --> 00:32:23,560 - We faced difficulties. - We faced difficulties but God was kind. 574 00:32:23,680 --> 00:32:27,120 We kept overcoming difficulties. 575 00:32:28,320 --> 00:32:31,040 - We went to Turkey to get trained. - Wow! 576 00:32:31,880 --> 00:32:34,200 We learnt and then trained people here 577 00:32:34,280 --> 00:32:35,680 so that we aren't dependent. 578 00:32:35,760 --> 00:32:36,960 Very nice. 579 00:32:37,200 --> 00:32:39,000 I understand that you learned the skills 580 00:32:39,120 --> 00:32:40,800 but what about business operations? 581 00:32:41,200 --> 00:32:43,240 What difficulties did you face in the beginning? 582 00:32:43,320 --> 00:32:45,880 We needed real estate in the beginning. 583 00:32:45,960 --> 00:32:47,640 - We needed permission in malls. - Yes! 584 00:32:47,720 --> 00:32:49,800 We faced several problems and obstacles. 585 00:32:49,880 --> 00:32:53,320 We launched our first store at Elante Mall, Chandigarh. 586 00:32:53,400 --> 00:32:55,840 We opened it in 2017 587 00:32:55,920 --> 00:32:57,800 and then we never looked back. 588 00:32:57,880 --> 00:32:59,040 [triumphant music] 589 00:32:59,120 --> 00:33:02,080 We expanded our stores to Surat, 590 00:33:02,160 --> 00:33:03,480 Mumbai 591 00:33:03,600 --> 00:33:06,240 and we also got real estate in Delhi. 592 00:33:06,320 --> 00:33:07,480 How many people do you have in your team? 593 00:33:07,560 --> 00:33:11,720 The total employees of outlets, office and manufacturing are 240. 594 00:33:11,800 --> 00:33:13,400 - You two are cofounders. - Right! 595 00:33:13,480 --> 00:33:16,200 - What's the equity split between you two? - It's fifty-fifty. 596 00:33:18,640 --> 00:33:19,680 We are bootstrapped. 597 00:33:19,760 --> 00:33:21,520 So you are a bootstrapped company. 598 00:33:23,520 --> 00:33:24,920 What is your role in the company? 599 00:33:25,040 --> 00:33:28,200 - Manufacturing and dispatch. - Manufacturing and R&D. 600 00:33:28,280 --> 00:33:30,200 So you manufacture it in your factory. 601 00:33:30,280 --> 00:33:34,000 We do manufacturing in our plant at Kirti Nagar, Delhi. 602 00:33:41,240 --> 00:33:43,920 get stock delivery 603 00:33:44,000 --> 00:33:46,000 within 72 hours from Delhi. 604 00:33:46,360 --> 00:33:48,000 - How did you learn to manage? - I agree. 605 00:33:48,120 --> 00:33:50,000 - It's amazing. - Unbelievable. 606 00:33:50,080 --> 00:33:53,720 You toiled and learned so much. Kudos! 607 00:33:57,640 --> 00:33:59,560 Do you own those 37 outlets? 608 00:33:59,640 --> 00:34:01,240 Earlier, we granted a franchise. 609 00:34:01,320 --> 00:34:04,360 But since the end of 2021, all the stores are company-owned. 610 00:34:08,480 --> 00:34:12,000 Because they wouldn't spend enough on their staff 611 00:34:12,680 --> 00:34:16,040 - and the maintenance of the outlet. - Correct. 612 00:34:17,040 --> 00:34:20,640 Sometimes, they would try to use third-party ice creams. 613 00:34:21,560 --> 00:34:24,640 So, we spent most of our time correcting them. 614 00:34:24,760 --> 00:34:25,600 You learnt that too. 615 00:34:25,720 --> 00:34:27,040 [music playing] 616 00:34:27,120 --> 00:34:28,880 - Strong fundamentals! - Amazing! 617 00:34:28,920 --> 00:34:29,880 It's a good point. 618 00:34:30,720 --> 00:34:32,160 - You learnt it soon. - When you build it from scratch, 619 00:34:32,240 --> 00:34:34,760 - you tend to learn a lot. - Yeah. 620 00:34:34,840 --> 00:34:36,640 What is the unit of economics of a cart? 621 00:34:36,720 --> 00:34:39,720 A kiosk of 150 sq. ft., for the company, 622 00:34:39,800 --> 00:34:43,200 takes around 12-14 lakhs to be ready. 623 00:34:44,960 --> 00:34:46,680 [music playing] 624 00:34:46,800 --> 00:34:48,600 CapEx or capital expenditure 625 00:34:48,680 --> 00:34:51,560 are expenses that a company makes in long-term assets. 626 00:34:51,640 --> 00:34:53,880 For example, plant, machinery, and IT. 627 00:34:53,960 --> 00:34:56,440 And OpEx or operational expenditure 628 00:34:56,520 --> 00:34:58,400 are everyday expenses of the company 629 00:34:58,480 --> 00:35:00,920 like marketing, people cost, etc. 630 00:35:01,040 --> 00:35:03,560 [music playing] 631 00:35:03,640 --> 00:35:07,120 The CapEx is 12-14 lakhs for a cart. What's the unit economics? 632 00:35:07,160 --> 00:35:07,600 Correct. 633 00:35:07,680 --> 00:35:10,920 So the monthly average sale of every kiosk and store 634 00:35:11,000 --> 00:35:14,920 is around 14-16 lakhs of sales. 635 00:35:15,680 --> 00:35:17,080 - Per annum? - Per month. 636 00:35:17,160 --> 00:35:18,160 Wow! 637 00:35:18,720 --> 00:35:20,680 Give me the details of 14-16 lakhs, please. 638 00:35:20,760 --> 00:35:22,560 For example, if we assume, 639 00:35:22,680 --> 00:35:25,000 that our store makes a sale of 15 lakhs. 640 00:35:25,080 --> 00:35:27,760 In that, our rent amount 641 00:35:30,520 --> 00:35:31,760 - 10%. - Yes. 642 00:35:31,840 --> 00:35:32,640 It's very good. And? 643 00:35:35,920 --> 00:35:37,440 then within that, 644 00:35:45,320 --> 00:35:46,840 What's the final profit in hand? 645 00:35:53,440 --> 00:35:55,320 Easily, for a store. 646 00:35:56,360 --> 00:35:59,480 Your total sales are around 3.5 to 4 crores, right? 647 00:35:59,560 --> 00:36:01,840 Our monthly sales are around 2.5 to 2.75 crores. 648 00:36:09,480 --> 00:36:10,600 [music playing] 649 00:36:13,040 --> 00:36:16,920 Last year, the total sales were around 5 crores. 650 00:36:17,480 --> 00:36:20,080 Until then, we were just into franchise stores. 651 00:36:20,200 --> 00:36:21,840 We weren't into company-owned stores. 652 00:36:21,920 --> 00:36:24,120 How many locations can you cover in India? 653 00:36:24,200 --> 00:36:27,000 Easily around 150 stores. 654 00:36:27,720 --> 00:36:29,240 150 stores. 655 00:36:29,360 --> 00:36:32,120 Four times the current number. 656 00:36:32,200 --> 00:36:34,120 So, right now, the sales are around 30 crores. 657 00:36:34,200 --> 00:36:37,120 Let's say, sales will be worth 100 crores. 658 00:36:37,240 --> 00:36:40,200 You will earn a profit of around 20 crores. 659 00:36:40,280 --> 00:36:41,520 What's the plan after that? 660 00:36:41,640 --> 00:36:44,520 The further plan is that if we see the demand 661 00:36:44,600 --> 00:36:48,840 then we will explore further 662 00:36:48,920 --> 00:36:51,080 in Turkish and middle eastern food chain. 663 00:36:51,720 --> 00:36:53,040 You will start a new brand. 664 00:36:53,120 --> 00:36:55,360 We will add on. 665 00:36:55,440 --> 00:36:56,280 As a new brand? 666 00:36:56,400 --> 00:36:58,360 - After a very long time. - As a new brand? 667 00:36:58,360 --> 00:36:58,680 Yeah. 668 00:36:59,600 --> 00:37:02,840 What do you want from us? You have everything. 669 00:37:03,520 --> 00:37:06,000 We offer guidance 670 00:37:06,120 --> 00:37:07,360 or assist in branding 671 00:37:07,440 --> 00:37:10,240 or technology maybe. 672 00:37:10,320 --> 00:37:13,160 - Or maybe teach nothing. - The more the merrier. 673 00:37:13,240 --> 00:37:14,720 In our current business, 674 00:37:14,800 --> 00:37:19,120 if someone associates with us, we will grow more. 675 00:37:19,920 --> 00:37:23,400 Let me tell you honestly. I'm learning from you. 676 00:37:24,040 --> 00:37:26,440 I have nothing to teach you. 677 00:37:27,800 --> 00:37:29,000 I just need your support. 678 00:37:29,120 --> 00:37:32,320 - I will support you. - That's all we want. 679 00:37:32,880 --> 00:37:35,440 I will share my decision with you. 680 00:37:36,760 --> 00:37:38,720 I want to associate with you. 681 00:37:39,880 --> 00:37:41,520 But I don't want you to take the money. 682 00:37:41,600 --> 00:37:43,600 [inspirational music] 683 00:37:43,720 --> 00:37:47,200 If you insist that I come even if you don't get money 684 00:37:47,280 --> 00:37:49,640 - and somebody gives you an offer... - We want only you. 685 00:37:49,720 --> 00:37:52,600 If another Shark gives you an offer, I'll join them. 686 00:37:52,680 --> 00:37:54,680 I'll join their deal. 687 00:37:55,560 --> 00:37:57,800 My friend, let me tell you my decision. 688 00:37:58,840 --> 00:38:00,280 I have a feeling 689 00:38:00,400 --> 00:38:04,640 that your pitch on Shark Tank is questionable. 690 00:38:05,800 --> 00:38:08,520 You are a good businessman who has made a mark. 691 00:38:08,600 --> 00:38:09,840 You'd surely succeed. 692 00:38:09,920 --> 00:38:12,680 I think your strength is that 693 00:38:12,800 --> 00:38:14,560 you successfully finish what you start. 694 00:38:15,160 --> 00:38:17,320 It's very heart-warming 695 00:38:18,240 --> 00:38:20,880 but I don't understand how you will use the investment 696 00:38:20,960 --> 00:38:22,400 and how I will help you. 697 00:38:22,480 --> 00:38:24,840 I didn't like the products so much. 698 00:38:26,000 --> 00:38:28,280 For these two reasons, I'll be out today. 699 00:38:28,360 --> 00:38:29,920 [sweeping music] Thank you so much! 700 00:38:30,000 --> 00:38:32,280 I want to say that you shouldn't raise money. 701 00:38:32,360 --> 00:38:34,200 That's my advice to you. 702 00:38:34,600 --> 00:38:36,320 Why are you diluting your equity? 703 00:38:36,400 --> 00:38:37,720 If an investor comes, he'd ask for an exit. 704 00:38:37,800 --> 00:38:39,920 You'll face many issues. You are making a good profit. 705 00:38:40,040 --> 00:38:43,280 To be honest, you are running your business at ground level. 706 00:38:43,360 --> 00:38:44,200 You know it all. 707 00:38:44,280 --> 00:38:47,080 As you came to Shark Tank, your marketing will improve. 708 00:38:47,200 --> 00:38:48,000 - Right? - That's right. 709 00:38:48,080 --> 00:38:50,480 I want to be out for this reason. 710 00:38:51,200 --> 00:38:53,240 I feel that you shouldn't seek investment. 711 00:38:54,200 --> 00:38:56,560 My decision is the same. 712 00:38:56,800 --> 00:39:01,200 Genuinely, I don't think you need money as it'd dilute your equity. 713 00:39:01,400 --> 00:39:05,600 - We will always be there for you as mentors. - Thank you! 714 00:39:05,680 --> 00:39:08,320 - Thank you so much. - But let's not be investors today. 715 00:39:09,120 --> 00:39:12,640 One Shark is not fully in. Three Sharks are out and one is left. 716 00:39:12,760 --> 00:39:17,240 What are the things you won't do in this business? 717 00:39:17,360 --> 00:39:18,760 Right from the start, 718 00:39:18,840 --> 00:39:21,720 our family cautioned us that before borrowing money, 719 00:39:21,800 --> 00:39:24,280 plan how you'd serve them 720 00:39:24,360 --> 00:39:26,080 to satisfy them and then take a cheque. 721 00:39:26,160 --> 00:39:27,840 [ethereal music] 722 00:39:27,920 --> 00:39:29,720 After taking money, we would be 723 00:39:29,800 --> 00:39:32,760 - obligated. We're at an early stage. - One shouldn't cheat. 724 00:39:32,840 --> 00:39:34,960 We don't want to go astray. 725 00:39:35,040 --> 00:39:37,080 [ethereal music] 726 00:39:38,040 --> 00:39:40,800 You're doing everything right in your business 727 00:39:40,920 --> 00:39:42,560 and I like your value system the most. 728 00:39:43,880 --> 00:39:46,320 You said something great, "we don't want to cheat." 729 00:39:46,400 --> 00:39:48,600 That's the most important thing for me. 730 00:39:49,240 --> 00:39:52,200 I think your fundamentals are strong. 731 00:39:52,400 --> 00:39:55,680 You could face challenges in scaling up and building defensibility. 732 00:39:55,800 --> 00:39:58,920 Your product has a novelty 733 00:39:59,080 --> 00:40:02,520 which will decrease gradually. You must be careful and plan in advance. 734 00:40:03,560 --> 00:40:06,240 My offer for you is Rs. 50 lakhs 735 00:40:07,400 --> 00:40:09,880 for 10% equity and Rs. 50 lakhs in debt. 736 00:40:09,960 --> 00:40:12,680 This offer will be shared fifty-fifty between Aman and me. 737 00:40:20,800 --> 00:40:23,040 [suspenseful music] 738 00:40:23,760 --> 00:40:26,920 - No. But still, it's our duty... - You may invest if you want to. 739 00:40:27,000 --> 00:40:29,200 - You have expertise. - I'm telling them not to dilute. 740 00:40:30,000 --> 00:40:31,840 You are talented and have expertise. 741 00:40:31,920 --> 00:40:35,320 Even if you don't accept my deal, I'll always wish the best for you. 742 00:40:35,400 --> 00:40:37,080 We are retailers so if you need help 743 00:40:37,160 --> 00:40:40,840 in entry to malls, I can help you enter any mall in India. 744 00:40:42,880 --> 00:40:45,480 - Good. - Now please decide. 745 00:40:45,560 --> 00:40:48,000 [sweeping music] 746 00:40:50,080 --> 00:40:52,000 Thank you so much for your offer, sir. 747 00:40:52,120 --> 00:40:54,480 You are very kind 748 00:40:54,680 --> 00:40:57,320 and it was nice meeting all of you but 749 00:40:59,000 --> 00:41:01,440 - we can't accept this offer. - I understand. 750 00:41:01,560 --> 00:41:02,880 Well done! 751 00:41:03,000 --> 00:41:05,480 - But I'll ask for your support when we need it. - We knew it. 752 00:41:05,600 --> 00:41:07,880 Alright! Thank you, guys! Bye! 753 00:41:08,000 --> 00:41:09,800 - Thank you so much! - Thank you, sir! 754 00:41:09,920 --> 00:41:11,360 Thank you! Best of luck. 755 00:41:12,480 --> 00:41:14,640 [inspirational music] 756 00:41:16,320 --> 00:41:17,680 [ethereal music] 757 00:41:25,880 --> 00:41:27,800 [dramatic music] 758 00:41:39,080 --> 00:41:42,080 Sharks, India is an agricultural country. 759 00:41:42,160 --> 00:41:44,840 Our production capacity is so good 760 00:41:44,960 --> 00:41:48,240 that we export grains to other countries. 761 00:41:48,400 --> 00:41:49,880 Do you know 762 00:41:49,960 --> 00:41:53,480 how meagre our yield is as compared to other countries? 763 00:41:53,560 --> 00:41:54,600 For instance, 764 00:41:54,720 --> 00:41:57,120 India and China grow 60 lakh tons 765 00:41:57,200 --> 00:41:59,320 of cotton per year. 766 00:41:59,600 --> 00:42:01,080 India needs 767 00:42:01,160 --> 00:42:03,520 1.25 crore hectares-field to do that 768 00:42:03,640 --> 00:42:06,160 but China needs just one-fourth of that area. 769 00:42:06,240 --> 00:42:09,000 It means they just require 30 lakh hectares-field. 770 00:42:10,080 --> 00:42:11,320 That's because China 771 00:42:11,400 --> 00:42:13,720 has a plethora of options in technology for farming. 772 00:42:13,800 --> 00:42:15,360 India is changing rapidly 773 00:42:15,480 --> 00:42:18,040 and start-ups are using technology 774 00:42:18,120 --> 00:42:21,040 to solve the problems in farming. 775 00:42:31,880 --> 00:42:33,680 Greetings, Sharks! I'm Saurabh Agarwal. 776 00:42:38,400 --> 00:42:39,760 GROWiT is a brand 777 00:42:49,240 --> 00:42:51,440 use this farming technique. 778 00:42:51,520 --> 00:42:55,280 Only 2% of farmers know about this technology in India. 779 00:42:56,000 --> 00:42:57,760 Our products ensure 780 00:42:57,880 --> 00:43:00,440 that water, pesticide 781 00:43:00,520 --> 00:43:03,760 and fertiliser consumption in the fields is less than 50%, 782 00:43:03,880 --> 00:43:06,560 they save the produce from sunburn and rusting 783 00:43:06,640 --> 00:43:07,880 and stop weed growth. 784 00:43:10,920 --> 00:43:12,480 and the farmer's income 785 00:43:12,600 --> 00:43:15,760 from 50% to 100%. 786 00:43:18,240 --> 00:43:20,120 in four states. 787 00:43:21,560 --> 00:43:24,360 Our vision is to make every Indian farmer 788 00:43:24,440 --> 00:43:26,240 aware of protective farming 789 00:43:26,320 --> 00:43:28,360 and deliver our products to them. 790 00:43:28,440 --> 00:43:31,000 Sharks, our ask is Rs. 1 crore 791 00:43:38,280 --> 00:43:39,840 Please increase our profit too. 792 00:43:40,880 --> 00:43:42,480 Akshay and Saurabh, 793 00:43:42,720 --> 00:43:44,960 welcome to Shark Tank. 794 00:43:51,280 --> 00:43:52,920 Protective farming is all the more important. 795 00:43:53,000 --> 00:43:56,160 You said water, pesticide and fertiliser usage will reduce by 50%. 796 00:43:56,240 --> 00:44:00,040 - Yes. - It means it's a scientific product. 797 00:44:00,160 --> 00:44:03,520 - My mom has a huge farm and she does these things herself. - Okay. 798 00:44:03,600 --> 00:44:07,320 What scientific knowledge did you use? What work experience 799 00:44:07,400 --> 00:44:10,040 or education background is it based on? 800 00:44:10,120 --> 00:44:13,960 Sharks, both of us are third-generation entrepreneurs. 801 00:44:14,400 --> 00:44:17,720 I pursued my graduation at Cardiff University, UK. 802 00:44:17,840 --> 00:44:20,760 And I completed my MBA at SP Jain College, Mumbai. 803 00:44:20,840 --> 00:44:22,760 I pursued my bachelor's and master's degree 804 00:44:22,840 --> 00:44:24,560 in Plastics Engineering in the US. 805 00:44:24,680 --> 00:44:27,000 From the University of Massachusetts, near Boston. 806 00:44:27,080 --> 00:44:29,360 - So you two are brothers related by blood. - Yes. Related by blood. 807 00:44:29,440 --> 00:44:31,760 Ooh! You don't resemble each other at all. 808 00:44:32,480 --> 00:44:34,880 How did you get the knowledge of agriculture? 809 00:44:34,960 --> 00:44:38,080 My hobby is to do farming at my home. 810 00:44:38,160 --> 00:44:42,640 I decided to grow whatever we eat at our home. 811 00:44:43,040 --> 00:44:46,960 So we started farming at a small level. 812 00:44:47,120 --> 00:44:48,400 My interest in farming increased 813 00:44:48,480 --> 00:44:50,920 so we decided to study 814 00:44:51,040 --> 00:44:53,000 the available technologies in farming 815 00:44:53,080 --> 00:44:55,320 to improve our farm. 816 00:44:55,400 --> 00:44:58,760 We realised that some technologies weren't available in India. 817 00:44:58,840 --> 00:45:01,920 We went to Europe, the US, and China 818 00:45:02,000 --> 00:45:03,840 and brought those products to India. 819 00:45:03,960 --> 00:45:06,720 We used those products on our farm but they weren't effective. 820 00:45:06,880 --> 00:45:10,520 Later on, as Akshay has an engineering background, 821 00:45:10,720 --> 00:45:12,480 I think he can explain better. 822 00:45:12,560 --> 00:45:13,840 He handed the products to me 823 00:45:13,960 --> 00:45:17,640 and asked me to check them as they were made of plastic. 824 00:45:17,720 --> 00:45:21,880 I did some R&D and made some products too. 825 00:45:22,000 --> 00:45:24,080 When we successfully used them on our farms, 826 00:45:24,200 --> 00:45:27,320 - we gave those machines to farmers for trial. - Okay! 827 00:45:27,400 --> 00:45:30,480 When they gave a positive response, we thought of 828 00:45:30,560 --> 00:45:34,160 expanding this business pan-India 829 00:45:34,240 --> 00:45:36,600 so that it brings about a revolution. 830 00:45:36,880 --> 00:45:38,120 Where is your farm? 831 00:45:38,200 --> 00:45:39,280 - Surat. - Surat. 832 00:45:41,800 --> 00:45:43,680 I'm not interested in farming 833 00:45:43,760 --> 00:45:45,960 - but in product development. - You want to make money. 834 00:45:46,040 --> 00:45:47,520 [laughing] 835 00:45:51,040 --> 00:45:52,520 What is your invention? 836 00:45:52,640 --> 00:45:54,880 I'd like to share some case studies. 837 00:45:55,120 --> 00:45:58,320 You can see that cotton is being grown here 838 00:45:58,400 --> 00:46:00,160 without a mulching film 839 00:46:00,280 --> 00:46:02,080 but it is being grown here with mulching film. 840 00:46:02,160 --> 00:46:04,640 Due to this reason, the numbers shown at the bottom 841 00:46:04,720 --> 00:46:09,080 reflect that the income of farmers has almost doubled. 842 00:46:09,440 --> 00:46:10,800 Is it an average figure or a top success story? 843 00:46:10,880 --> 00:46:11,920 No. It's an average figure. 844 00:46:12,000 --> 00:46:14,840 Because on average, there can be 845 00:46:14,960 --> 00:46:17,480 - a 5% to 10% variation depending on farming practice. - Okay. 846 00:46:17,560 --> 00:46:19,080 What is a mulching film? 847 00:46:29,760 --> 00:46:31,360 What is it made of? 848 00:46:31,440 --> 00:46:33,360 - It's made of plastic. - Plastic! 849 00:46:40,920 --> 00:46:43,720 Currently, the sale of mulching 850 00:46:43,800 --> 00:46:46,360 is around Rs. 450 crores to Rs. 500 crores in India. 851 00:46:50,080 --> 00:46:52,640 When you say this to farmers, are they convinced by you? 852 00:46:52,760 --> 00:46:55,960 Yes. If we convey this to farmers properly, 853 00:46:56,040 --> 00:46:58,600 they definitely agree as they are highly adaptive. 854 00:46:58,720 --> 00:47:01,080 We have made demo farms too. 855 00:47:01,160 --> 00:47:04,920 We have made more than 70 demo farms in every administrative district. 856 00:47:05,000 --> 00:47:08,040 You may see a model of such a farm. 857 00:47:08,120 --> 00:47:10,760 [ethereal music] 858 00:47:12,080 --> 00:47:13,240 - This is mulching, right? - Yes. 859 00:47:13,320 --> 00:47:15,480 - This is mulching. - Yes. 860 00:47:15,560 --> 00:47:17,160 And this is a weed mat. 861 00:47:17,240 --> 00:47:18,920 As you can see, these are weeds. 862 00:47:19,000 --> 00:47:21,080 They are also called wild grass. 863 00:47:21,160 --> 00:47:24,080 It's meant for that because it robs the soil of its nutrition. 864 00:47:24,160 --> 00:47:25,440 - And this is cover. - Yes. 865 00:47:25,520 --> 00:47:27,720 - Just three products. - No. We have many products 866 00:47:27,800 --> 00:47:30,240 - but we don't show everything in a demo farm. - You just show three. 867 00:47:30,320 --> 00:47:31,160 Got it! 868 00:47:31,240 --> 00:47:33,000 Sir, can we take it? 869 00:47:33,120 --> 00:47:34,720 Sir, we brought them for you. 870 00:47:34,800 --> 00:47:37,200 [ethereal music] 871 00:47:38,520 --> 00:47:39,960 You lessened our burden. 872 00:47:40,040 --> 00:47:41,000 [chuckling] 873 00:47:41,080 --> 00:47:43,040 Please reduce your valuation by half for us. 874 00:47:44,080 --> 00:47:45,920 Are all your products 875 00:47:46,000 --> 00:47:48,600 included in this? Or do you have more products? 876 00:47:48,680 --> 00:47:50,760 We have 18 products in total and all of them are included in it. 877 00:47:50,840 --> 00:47:53,320 - It has a drawer. - There's a drawer at the base. 878 00:47:53,400 --> 00:47:56,640 - You made it meticulously. It's lovely. - Your presentation is good. 879 00:47:56,720 --> 00:48:00,400 Don't you think that in case plastic is banned, 880 00:48:00,480 --> 00:48:02,320 it could create a problem for you? 881 00:48:02,400 --> 00:48:05,440 We used some additives to make these after R&D 882 00:48:05,520 --> 00:48:09,680 and ensure that the film lasts even after the harvest of the crop. 883 00:48:09,760 --> 00:48:12,640 We are the first company in India 884 00:48:12,760 --> 00:48:14,680 who buy back this film. 885 00:48:14,760 --> 00:48:16,720 We launched just six months ago 886 00:48:16,840 --> 00:48:18,720 and we did a buyback 887 00:48:18,800 --> 00:48:21,160 of Rs. 40 lakh worth of films and recycled them. 888 00:48:21,240 --> 00:48:23,640 You still didn't tell us the cost of mulching. 889 00:48:23,720 --> 00:48:25,680 Farmers spend Rs. 12,000 to Rs. 15,000 890 00:48:33,120 --> 00:48:34,320 You mean 891 00:48:34,400 --> 00:48:37,880 the cost of mulching is recovered by the advantage they get. 892 00:48:37,960 --> 00:48:39,720 - Exactly! - Are these benchmark figures? 893 00:48:39,800 --> 00:48:41,320 - Of course! - Yes! 894 00:48:41,400 --> 00:48:42,200 Amazing! 895 00:48:42,280 --> 00:48:45,480 Is there a product out of 18 products 896 00:48:45,720 --> 00:48:49,200 which has a sale between 30% to 70% 897 00:48:49,280 --> 00:48:50,480 of your entire business? 898 00:48:50,560 --> 00:48:53,280 Currently, mulching films sell for around 80%. 899 00:48:57,280 --> 00:48:59,400 Our last year's sale was Rs. 20 crores. 900 00:48:59,520 --> 00:49:00,320 - Oh! - Well done! 901 00:49:06,800 --> 00:49:09,120 - is the peak season. - What will be your sale by the year-end? 902 00:49:09,200 --> 00:49:10,560 How much are you expecting? 903 00:49:10,640 --> 00:49:13,880 - We expect to sell for around Rs. - 35 crores to Rs. 40 crores. - Wow! 904 00:49:18,480 --> 00:49:20,000 - give the highest revenue. - It's the rainy season now. 905 00:49:20,080 --> 00:49:23,480 How much did you earn in both halves last year in Rs. 20 crores? 906 00:49:24,200 --> 00:49:26,080 We earned just Rs. 6 crores in the first half. 907 00:49:26,200 --> 00:49:27,200 - And you earned Rs. 14 crores in the other half. - Yes. 908 00:49:27,280 --> 00:49:29,840 - Almost 2.5 times. - The same thing would be repeated. 909 00:49:29,960 --> 00:49:33,480 My friend, you are selling mulching film 910 00:49:33,880 --> 00:49:36,360 or plastic paper 911 00:49:36,480 --> 00:49:38,200 or whatever for Rs. 2 crores every month. 912 00:49:38,280 --> 00:49:40,760 Amazing! You've come a long way. 913 00:49:40,840 --> 00:49:42,680 - I was... - Shall I make an offer? 914 00:49:42,760 --> 00:49:44,920 [music playing] 915 00:49:45,000 --> 00:49:47,280 Yes, hear her offer first and we shall talk. 916 00:49:48,040 --> 00:49:51,200 Firstly, I'm very interested in this area. 917 00:49:51,280 --> 00:49:54,080 Because like I said, I've grown up seeing my mom. 918 00:49:54,160 --> 00:49:56,320 The most attractive thing to me 919 00:49:56,440 --> 00:49:59,920 is that 80% of sales are from mulching. 920 00:50:00,000 --> 00:50:02,080 And these 18 products, 921 00:50:02,160 --> 00:50:04,680 you know what we call life cycle management. 922 00:50:04,800 --> 00:50:07,880 A farmer at some point has to use all 18. 923 00:50:08,320 --> 00:50:11,920 Your cross selling opportunity... 924 00:50:12,000 --> 00:50:12,360 Certainly. 925 00:50:12,440 --> 00:50:14,200 ...I found it very attractive because 926 00:50:14,320 --> 00:50:16,160 if it's 80% mulching 927 00:50:16,560 --> 00:50:17,920 then to those farmers 928 00:50:18,000 --> 00:50:20,960 we can cross-sell the rest of the products. 929 00:50:21,040 --> 00:50:21,520 Yes. 930 00:50:21,600 --> 00:50:24,120 The bottom line is that I want to be a part of your story. 931 00:50:24,200 --> 00:50:25,720 I think I can help you. 932 00:50:25,840 --> 00:50:29,800 I want to offer 50 lakhs in equity, 933 00:50:29,960 --> 00:50:31,800 for 1% equity. 934 00:50:32,680 --> 00:50:35,240 I'm holding your valuation at 50 crores. 935 00:50:35,320 --> 00:50:38,200 - Oh, wow! - 50% debt at 10% interest. 936 00:50:43,800 --> 00:50:45,520 He's so irritating. 937 00:50:46,240 --> 00:50:49,800 He always interrupts because he thinks I'll keep quiet. 938 00:50:49,880 --> 00:50:52,080 But I won't be quiet. You keep quiet! 939 00:50:52,160 --> 00:50:55,600 - [laughs] - Now, listen to my offer. 940 00:50:55,840 --> 00:50:58,400 I'm open to negotiation. 941 00:50:59,480 --> 00:51:00,840 You're turning into a dolphin from a shark. 942 00:51:00,920 --> 00:51:03,560 I'm becoming a dolphin because it's a good cause. 943 00:51:03,640 --> 00:51:05,760 And I believe in the purpose. 944 00:51:07,760 --> 00:51:11,080 But, I think 50 crores valuation is fair. 945 00:51:11,960 --> 00:51:14,120 She doesn't care about the profit. 946 00:51:14,200 --> 00:51:15,720 She doesn't care about the unit of economics. 947 00:51:15,800 --> 00:51:17,160 No, I love what you're doing. 948 00:51:17,240 --> 00:51:20,480 - Your profit doesn't matter to me. - I need to know your profit. 949 00:51:20,560 --> 00:51:23,320 We are expecting 60% sales from B2B businesses. 950 00:51:27,400 --> 00:51:29,400 D2C, a franchise model. 951 00:51:29,480 --> 00:51:30,920 What is the margin in this? 952 00:51:31,040 --> 00:51:32,800 22% gross profit. 953 00:51:32,880 --> 00:51:34,360 How much do you earn? 954 00:51:44,520 --> 00:51:48,080 On the other side, for our work on awareness creation, 955 00:51:48,160 --> 00:51:51,640 we have to spend a lot on marketing and branding. 956 00:51:51,720 --> 00:51:55,040 So, we are EBITDA positive there, but PAT is negative. 957 00:51:55,160 --> 00:51:57,400 - So, fertilisers... - What's the loss? 958 00:51:58,000 --> 00:52:00,360 Uh, last year, we burnt 1.5 crores. 959 00:52:00,480 --> 00:52:02,400 What about this year? 960 00:52:02,520 --> 00:52:03,960 This year, so far, we 961 00:52:16,600 --> 00:52:19,000 What about equity? 962 00:52:19,080 --> 00:52:23,080 So, we diluted 6% to raise 3 crores at 50 crores valuation. 963 00:52:23,160 --> 00:52:24,560 We hold the rest of the equity. 964 00:52:25,480 --> 00:52:26,640 In the family. 965 00:52:26,720 --> 00:52:28,040 What do you mean by within the family? 966 00:52:28,120 --> 00:52:29,880 We and our mother. 967 00:52:29,960 --> 00:52:32,360 - How's the split? 30 each? - Yes, one-third. 968 00:52:32,480 --> 00:52:33,320 Very good. 969 00:52:33,400 --> 00:52:36,000 Anupam asked you that from the 14 crores 970 00:52:36,080 --> 00:52:39,000 how much will you burn this year? 971 00:52:39,080 --> 00:52:42,720 This year, we will burn around 972 00:52:42,800 --> 00:52:44,680 4-5 crores. 973 00:52:44,800 --> 00:52:47,120 - Wow! - You're at loss this year. 974 00:52:47,200 --> 00:52:49,320 [music playing] 975 00:52:56,880 --> 00:52:59,560 So, next year, 976 00:52:59,680 --> 00:53:03,000 if we make 100 crores, 977 00:53:03,160 --> 00:53:05,960 6 crores will be the EBITDA margin. 978 00:53:06,040 --> 00:53:09,320 2 to 3 crores will be the PAT margin. 979 00:53:09,400 --> 00:53:12,600 So you will start earning when you reach 100 crores. 980 00:53:12,680 --> 00:53:15,960 He's still mentioning 1-2% PAT. 981 00:53:16,760 --> 00:53:18,720 It's a good purpose. 982 00:53:19,160 --> 00:53:20,920 I didn't like the business model much. 983 00:53:21,000 --> 00:53:22,560 [music playing] 984 00:53:22,680 --> 00:53:25,600 I think when the business grows 985 00:53:25,680 --> 00:53:27,920 and reaches 5000 crores 986 00:53:28,040 --> 00:53:30,400 there will be many players like DeHaat, AgroStar. 987 00:53:30,480 --> 00:53:33,240 They will sell and commoditize you. 988 00:53:33,320 --> 00:53:35,640 You're already commoditized with a margin of 1-2%. 989 00:53:35,720 --> 00:53:39,160 So, I'm out but you're headed in the right direction 990 00:53:39,240 --> 00:53:40,800 - and I hope something works out. - Thank you. 991 00:53:40,880 --> 00:53:42,440 All the best. 992 00:53:42,520 --> 00:53:44,360 I agree with Anupam. 993 00:53:44,440 --> 00:53:46,920 I don't see any defensibility. 994 00:53:47,000 --> 00:53:50,120 So, the business won't be commoditised. 995 00:53:50,680 --> 00:53:53,600 Secondly, such a low margin despite so much work. 996 00:53:53,680 --> 00:53:57,160 I don't understand how I will make money as an investor. 997 00:53:57,240 --> 00:53:59,120 So, I'm out. But, all the best. 998 00:53:59,200 --> 00:54:00,840 Thank you. 999 00:54:02,800 --> 00:54:04,120 I'm out too. 1000 00:54:04,720 --> 00:54:07,040 But you must try 1001 00:54:07,120 --> 00:54:11,000 to reach mobile shops 1002 00:54:11,120 --> 00:54:14,880 where farmers get prepaid stuff. 1003 00:54:14,960 --> 00:54:16,600 You have to somehow 1004 00:54:16,680 --> 00:54:20,800 study the awareness models more. 1005 00:54:21,160 --> 00:54:23,320 You have to find out how the rest are doing it. 1006 00:54:23,400 --> 00:54:25,480 How they're reaching out to so many farmers. 1007 00:54:26,000 --> 00:54:27,520 So, that will be my suggestion 1008 00:54:27,600 --> 00:54:31,320 to go deeper into more avenues 1009 00:54:31,400 --> 00:54:32,640 for reaching the farmer. 1010 00:54:32,720 --> 00:54:35,640 Hmm. 1011 00:54:36,840 --> 00:54:38,080 Tell me something. 1012 00:54:38,200 --> 00:54:42,440 What's your vision for the next five years? What will be the impact? 1013 00:54:42,520 --> 00:54:44,080 In the next five years, 1014 00:54:44,160 --> 00:54:46,280 doubling farmer's output and income 1015 00:54:46,360 --> 00:54:47,560 that is what GROWiT wants to be known for 1016 00:54:47,680 --> 00:54:49,120 - through protective farming. - However. 1017 00:54:49,200 --> 00:54:52,000 Okay. At what scale? 1018 00:54:52,120 --> 00:54:55,040 We will generate 300 crores of revenue. 1019 00:54:55,280 --> 00:54:56,600 Revenue of 300 crores. 1020 00:54:56,720 --> 00:54:58,360 What will be the PAT? 1021 00:54:58,440 --> 00:55:03,000 Around 22-24 crores PAT. 1022 00:55:03,080 --> 00:55:05,240 Say whatever you wish. Who knows the future? 1023 00:55:05,600 --> 00:55:08,160 No, it's our calculation. 1024 00:55:08,280 --> 00:55:10,360 If you wish, we can share the sheets. 1025 00:55:10,440 --> 00:55:11,880 You're thinking small. 1026 00:55:13,600 --> 00:55:15,080 You're talented. 1027 00:55:15,800 --> 00:55:18,560 - You've studied well. - With your help, we can grow. 1028 00:55:18,680 --> 00:55:22,520 You're so qualified. You've even done MBA. 1029 00:55:22,640 --> 00:55:25,120 You're building a good business. 1030 00:55:25,240 --> 00:55:27,160 In the next five years in India, 1031 00:55:28,120 --> 00:55:29,480 if you're making 30 crores now 1032 00:55:29,560 --> 00:55:33,440 you should not make anything less than 1000 crores. 1033 00:55:33,520 --> 00:55:36,040 - That's why we're here. - It will happen. 1034 00:55:36,240 --> 00:55:40,080 We won't make any profit if you build a 300-crore business. 1035 00:55:40,200 --> 00:55:41,600 Who will exit? 1036 00:55:42,040 --> 00:55:43,880 You have to plan the strategy. 1037 00:55:44,000 --> 00:55:46,640 I would like to make an offer, if Namita accepts. 1038 00:55:46,720 --> 00:55:49,040 - I will join her. - Let's do it together. 1039 00:55:49,120 --> 00:55:50,040 - Same valuation. - Yeah. 1040 00:55:55,240 --> 00:55:56,920 who are very passionate 1041 00:55:57,000 --> 00:55:58,760 - about this sector. - Definitely. 1042 00:55:58,840 --> 00:56:02,240 And honestly, not as a shark, 1043 00:56:02,320 --> 00:56:05,040 I'm telling you rationally that it's a great offer. 1044 00:56:05,120 --> 00:56:06,760 In terms of valuation. 1045 00:56:06,880 --> 00:56:10,480 Firstly, thank you, Namita and Peyush for the offer. 1046 00:56:10,560 --> 00:56:12,440 - Can we counter it? - No. 1047 00:56:12,520 --> 00:56:14,400 - Yes, do it. - No. 1048 00:56:14,480 --> 00:56:16,080 - Do it. - It's your right. 1049 00:56:16,200 --> 00:56:20,080 So, since we raised funds on 50 crores valuation last time, 1050 00:56:20,160 --> 00:56:23,880 can we consider a valuation of 75 crores? 1051 00:56:25,040 --> 00:56:28,040 I'll tell you something. You have a loss-making business. 1052 00:56:28,280 --> 00:56:30,400 When we went deep, 1053 00:56:30,480 --> 00:56:32,000 even this year, you will be making a loss. 1054 00:56:32,080 --> 00:56:33,600 As a principle, 1055 00:56:33,720 --> 00:56:37,280 I rarely invest in cash-burn businesses. 1056 00:56:37,360 --> 00:56:39,320 It's a fair valuation. 1057 00:56:39,400 --> 00:56:41,120 1% won't give any return. 1058 00:56:41,200 --> 00:56:43,520 - It's a fair offer. - It's a long-term play. 1059 00:56:43,600 --> 00:56:45,720 It's a fair offer. 1060 00:56:48,000 --> 00:56:49,560 This or that? 1061 00:56:49,680 --> 00:56:52,240 - Take it. - This or that? 1062 00:56:53,840 --> 00:56:55,160 [music playing] 1063 00:56:55,240 --> 00:56:57,240 - Let's do it. - Woah! 1064 00:57:03,560 --> 00:57:06,160 - love your enthusiasm. - Thank you. 1065 00:57:06,440 --> 00:57:08,080 - GROWiT. - Thank you. 1066 00:57:08,200 --> 00:57:10,400 Peyush, thank you for not fighting with me today. 1067 00:57:10,480 --> 00:57:12,640 I must thank you. 1068 00:57:12,720 --> 00:57:14,320 - Thank you, guys. - Thank you. 1069 00:57:14,440 --> 00:57:15,920 All the best, guys! 1070 00:57:17,520 --> 00:57:20,240 - Good deal, P! - See! 1071 00:58:39,440 --> 00:58:41,600 In today's Shark Xperience, Namita, 1072 00:58:41,760 --> 00:58:43,560 Sakshi from Pune has a question. 1073 00:58:43,640 --> 00:58:47,560 Sometimes, I feel that I'm not a good entrepreneur. 1074 00:58:47,880 --> 00:58:50,280 Do you ever have self-doubt? 1075 00:58:50,400 --> 00:58:52,080 How do I tackle it?