1 00:00:10,280 --> 00:00:12,240 Hello, I am Rahul Dua. 2 00:00:12,480 --> 00:00:14,480 Welcome to Shark Tank season 2. 3 00:00:14,760 --> 00:00:17,680 Co-presented by Acko. Payments partner, Cashfree payments. 4 00:00:17,840 --> 00:00:20,880 Ideas partner, Smallcase. Co-powered by PokerBaazi. 5 00:00:21,040 --> 00:00:23,960 Money partner, Fi Money. Online food partner, Eatfit. 6 00:00:24,280 --> 00:00:25,680 Eyewear partner, Lenskart. 7 00:00:26,000 --> 00:00:28,480 I hope you are ready because pitchers, Sharks 8 00:00:28,560 --> 00:00:30,000 and the host are ready. 9 00:00:30,160 --> 00:00:31,360 You may see for yourself. 10 00:00:31,480 --> 00:00:33,280 [music playing] 11 00:00:41,000 --> 00:00:43,240 [music playing] 12 00:00:55,280 --> 00:00:57,520 In life, courage is the magic 13 00:00:57,640 --> 00:01:00,160 that fulfils your dreams. 14 00:01:00,240 --> 00:01:02,120 [music playing] 15 00:01:02,840 --> 00:01:04,600 - Wow! - To progress in life, 16 00:01:04,720 --> 00:01:07,200 bold decisions must be made. 17 00:01:09,240 --> 00:01:11,560 Peyush made a bold decision 18 00:01:11,920 --> 00:01:15,120 of quitting his high-paying Microsoft job 19 00:01:17,000 --> 00:01:19,280 and to have the courage 20 00:01:19,480 --> 00:01:20,480 to start his business. 21 00:01:21,320 --> 00:01:23,360 At the age of 55, 22 00:01:23,480 --> 00:01:26,840 I quit my well-established, high-paying position 23 00:01:26,960 --> 00:01:29,760 and made a bold decision to become an entrepreneur. 24 00:01:29,840 --> 00:01:32,080 [music playing] 25 00:01:32,160 --> 00:01:34,280 And to join an industry 26 00:01:34,360 --> 00:01:38,120 that I have no experience in or have never explored. 27 00:01:38,200 --> 00:01:39,240 Wow! 28 00:01:40,400 --> 00:01:42,600 I made a bold decision too. 29 00:01:42,680 --> 00:01:44,360 I'm from a traditional family 30 00:01:44,440 --> 00:01:46,280 where drinking is never discussed. 31 00:01:46,360 --> 00:01:48,120 I launched a beer brand. 32 00:01:48,200 --> 00:01:50,240 [music playing] 33 00:01:50,320 --> 00:01:52,240 My uncle supported me. 34 00:01:52,360 --> 00:01:55,560 [laughs] 35 00:01:55,680 --> 00:01:57,680 He not only convinced my family 36 00:01:57,760 --> 00:01:59,760 but also became my business partner. 37 00:01:59,840 --> 00:02:01,280 I wish everybody gets an uncle like him. 38 00:02:01,360 --> 00:02:02,800 [laughs] 39 00:02:02,920 --> 00:02:07,240 Sharks, India's beer industry is estimated at 65,000 crores. 40 00:02:07,320 --> 00:02:08,040 Okay. 41 00:02:08,120 --> 00:02:12,080 And only strong beer dominates the market. 42 00:02:13,680 --> 00:02:17,560 It accounts for 85% of the market. 43 00:02:17,640 --> 00:02:18,840 - Wow! - Wow! 44 00:02:20,040 --> 00:02:23,520 And the brands in this sector 45 00:02:23,640 --> 00:02:26,480 are one or two that's on top of the mind recall. 46 00:02:26,560 --> 00:02:29,520 Especially, in the affordable price range. 47 00:02:30,560 --> 00:02:34,000 It's a big gap so we 48 00:02:34,080 --> 00:02:38,200 launched a premium, strong beer brand, Proost. 49 00:02:45,120 --> 00:02:46,880 And we're the co-founders of Proost beer. 50 00:02:46,960 --> 00:02:49,240 [music playing] 51 00:02:49,360 --> 00:02:52,160 Proost is a mass, premium, affordable beer brand. 52 00:02:52,240 --> 00:02:55,440 It's known for its premium quality, low bitterness, 53 00:02:55,520 --> 00:02:58,960 high affordability, and high drinkability. 54 00:02:59,080 --> 00:03:01,400 Apart from strong beers, we also have two other variants. 55 00:03:01,480 --> 00:03:03,560 Light beer and wheat-crafted beer. 56 00:03:03,640 --> 00:03:06,920 But our focus is on strong beer. 57 00:03:07,560 --> 00:03:11,200 All our products are indigenous. It's made in India. 58 00:03:11,320 --> 00:03:13,200 Our mission is to 59 00:03:13,280 --> 00:03:16,280 offer premium quality beer to the common man at affordable prices. 60 00:03:16,360 --> 00:03:18,160 Stronger than our beer 61 00:03:18,280 --> 00:03:21,080 - is our distribution network. - Wow! 62 00:03:21,160 --> 00:03:23,480 Sharks, we're available 63 00:03:23,560 --> 00:03:27,120 - in around 1800 retail outlets. - Wow! 64 00:03:27,200 --> 00:03:29,240 [music playing] 65 00:03:29,320 --> 00:03:30,280 And we're proud 66 00:03:30,360 --> 00:03:33,320 of having sold more than 70 lakh units. 67 00:03:33,400 --> 00:03:37,160 Our vision is to create a mass, premium, affordable beer brand 68 00:03:37,240 --> 00:03:38,960 that is not only a part of the Indian beer market 69 00:03:39,040 --> 00:03:41,320 but dominates the global beer market as well. 70 00:03:41,400 --> 00:03:43,800 Our ask is Rs. 1 crore 71 00:03:43,880 --> 00:03:47,280 for 0.75% equity 72 00:03:47,360 --> 00:03:48,680 in our company. 73 00:03:49,400 --> 00:03:51,880 So, Sharks, say cheers, say Proost! 74 00:03:51,960 --> 00:03:54,120 [music playing] 75 00:03:54,680 --> 00:03:57,240 - Welcome to Shark Tank! - Thank you, ma'am. 76 00:03:57,360 --> 00:03:59,560 Your valuation is high. 77 00:03:59,680 --> 00:04:02,760 Strong valuation for your strong beer. 78 00:04:03,560 --> 00:04:06,440 I've never tasted alcohol in my life. 79 00:04:06,560 --> 00:04:10,840 I belong to a family where nobody has tried alcohol. 80 00:04:10,920 --> 00:04:15,160 I know how difficult it is to convince such a family. 81 00:04:15,680 --> 00:04:18,520 So, how did you do the magic? 82 00:04:19,360 --> 00:04:22,680 It's a business. If we look at it that way, 83 00:04:22,760 --> 00:04:24,640 then it's not like 84 00:04:24,720 --> 00:04:26,280 we are promoting it. 85 00:04:26,360 --> 00:04:27,760 We are simply doing business. 86 00:04:27,880 --> 00:04:29,920 If I don't make it, someone else will. 87 00:04:30,000 --> 00:04:31,440 Those who want to drink will anyway drink. 88 00:04:31,520 --> 00:04:33,560 So, do you both drink or not? 89 00:04:33,640 --> 00:04:34,960 We drink. 90 00:04:35,080 --> 00:04:36,880 [laughs] 91 00:04:37,000 --> 00:04:39,400 Did you teach him to drink or did he teach you? 92 00:04:39,480 --> 00:04:42,080 He taught me to drink. 93 00:04:42,200 --> 00:04:44,320 [music playing] 94 00:04:45,280 --> 00:04:47,840 At the age of 55, 95 00:04:47,920 --> 00:04:50,800 you made a big decision. What were you doing before that? 96 00:04:51,480 --> 00:04:52,600 I have a diploma 97 00:04:52,720 --> 00:04:55,040 and come from an engineering background. 98 00:04:55,120 --> 00:04:57,200 I graduated in 1982. 99 00:04:57,280 --> 00:05:01,320 When I did my diploma, I just wanted to earn money. 100 00:05:02,480 --> 00:05:04,560 Hindustan Times was in circulation back then. 101 00:05:04,680 --> 00:05:08,080 It had an employment page. There was an ad 102 00:05:08,160 --> 00:05:11,560 which read that they wanted graduate engineers with 4-5 years of experienc 103 00:05:11,640 --> 00:05:13,680 - To go abroad immediately. - Wow! 104 00:05:13,760 --> 00:05:15,120 I seized the opportunity. 105 00:05:15,200 --> 00:05:17,480 So, I wrote an application 106 00:05:17,560 --> 00:05:19,800 and somehow, I got the interview call. 107 00:05:19,880 --> 00:05:21,200 [music playing] 108 00:05:21,320 --> 00:05:23,680 There were around 22-23 people lined up for the interview that day. 109 00:05:23,760 --> 00:05:26,080 I was waiting since 10 AM and it was 8 PM. 110 00:05:26,160 --> 00:05:27,960 Everybody left, even the receptionist. 111 00:05:27,960 --> 00:05:29,080 Only I was waiting. 112 00:05:29,760 --> 00:05:31,760 After ten minutes, a peon walked out 113 00:05:31,840 --> 00:05:32,680 and asked me to come in. 114 00:05:32,800 --> 00:05:35,280 When I went inside, there were 4-5 people sitting inside. 115 00:05:35,320 --> 00:05:36,880 That's where my interview took place. 116 00:05:36,960 --> 00:05:39,240 The first question was that neither am I a graduate engineer 117 00:05:39,320 --> 00:05:42,240 nor do I have any experience. Then why did I apply? 118 00:05:43,520 --> 00:05:47,320 I told them that I can do what 119 00:05:47,400 --> 00:05:49,560 a graduate engineer or 4-5 years experienced person can. 120 00:05:49,640 --> 00:05:51,320 You can ask me anything. 121 00:05:51,400 --> 00:05:53,840 They took an interview, asked me questions 122 00:05:53,960 --> 00:05:56,600 and finally, they hired me. 123 00:05:56,680 --> 00:05:58,280 The company was Punj Lloyd. 124 00:05:59,440 --> 00:06:01,800 I joined as a trainee supervisor. 125 00:06:01,880 --> 00:06:03,840 [music playing] 126 00:06:06,000 --> 00:06:08,160 [music playing] 127 00:06:12,360 --> 00:06:15,760 And I quit the company as the global CEO. 128 00:06:15,840 --> 00:06:17,200 Wow! 129 00:06:17,440 --> 00:06:19,880 - Amazing! - Wonderful! 130 00:06:19,960 --> 00:06:22,680 [music playing] 131 00:06:22,800 --> 00:06:26,440 I worked for one company and left it because 132 00:06:26,520 --> 00:06:29,560 I wanted to go ahead in life. 133 00:06:29,640 --> 00:06:32,320 So, I decided to quit and try something. 134 00:06:32,760 --> 00:06:35,960 Vijay, where is your factory? 135 00:06:36,680 --> 00:06:39,400 Sir, we are operating on a lease model. 136 00:06:39,480 --> 00:06:41,240 - Where is it? - It's in Punjab. 137 00:06:41,320 --> 00:06:42,920 We recently had a tie-up in Haryana. 138 00:06:43,000 --> 00:06:45,000 And we will have a third tie-up in Telangana. 139 00:06:45,080 --> 00:06:46,520 I also want to ask that 140 00:06:46,640 --> 00:06:48,840 - licensing is a part of it, right? - Yes. 141 00:06:49,040 --> 00:06:51,040 In the beer and alcohol industry. 142 00:06:51,240 --> 00:06:53,240 So, which states' licenses do you hold at present? 143 00:06:53,360 --> 00:06:54,720 [music playing] 144 00:06:54,800 --> 00:06:56,640 Sir, at the moment, Delhi, 145 00:06:56,720 --> 00:06:58,760 Haryana, Uttar Pradesh, Punjab, and Kerala. 146 00:06:58,800 --> 00:07:00,200 We hold a license in five states. 147 00:07:00,280 --> 00:07:02,520 You have covered the most important states. 148 00:07:02,600 --> 00:07:04,920 No, Sir. The major five are yet to be covered. 149 00:07:05,000 --> 00:07:07,560 The biggest market is Telangana, Andhra Pradesh, 150 00:07:07,640 --> 00:07:11,200 Maharashtra, Karnataka, Rajasthan, West Bengal. 151 00:07:12,440 --> 00:07:16,080 Why have you named the beer 69? 152 00:07:16,160 --> 00:07:20,120 Is it to deliberately excite people? 153 00:07:20,200 --> 00:07:22,600 - No, sir. - What's the reason? 154 00:07:22,680 --> 00:07:25,240 It's FOMO, sir. Fear Of Missing Out. 155 00:07:25,480 --> 00:07:29,240 When we launched, all brands had a number associated with them. 156 00:07:29,320 --> 00:07:31,920 - 81. - 81, 91. 157 00:07:32,040 --> 00:07:35,840 I understand 5000, 2000, as it indicates power. 158 00:07:35,920 --> 00:07:37,520 But 69 159 00:07:37,600 --> 00:07:39,200 or 81 doesn't indicate anything. 160 00:07:39,280 --> 00:07:41,600 69 is a different connotation. 161 00:07:41,720 --> 00:07:43,560 We're both aware. 162 00:07:44,680 --> 00:07:45,520 That was the thought behind it. 163 00:07:45,600 --> 00:07:48,440 Our idea was to be a bold, unapologetic brand. 164 00:07:48,520 --> 00:07:51,320 To talk about things nobody else is talking about. 165 00:07:51,400 --> 00:07:52,960 [music playing] 166 00:07:53,040 --> 00:07:54,200 What are your sales? 167 00:07:54,280 --> 00:07:57,440 What's your plan or target? 168 00:07:58,720 --> 00:08:01,920 Our operations began in September 2018. 169 00:08:02,000 --> 00:08:03,840 So, the first-year sales were 77 lakhs. 170 00:08:03,920 --> 00:08:05,960 For the entire FY 18-19. 171 00:08:06,040 --> 00:08:08,680 The sales for 19-20 were 3.21 crores. 172 00:08:09,760 --> 00:08:12,880 The sales for 20-21 were 4.2 crores. 173 00:08:13,000 --> 00:08:15,880 After COVID happened, we managed to grow, but less. 174 00:08:15,960 --> 00:08:19,600 In 2021-22, the sales were 7.5 crores. 175 00:08:20,720 --> 00:08:23,880 This year, we have made 12 crores until last month. 176 00:08:23,960 --> 00:08:25,600 We will close this year 177 00:08:26,160 --> 00:08:28,400 at about 35 crores. 178 00:08:28,480 --> 00:08:30,040 Wow! 179 00:08:31,200 --> 00:08:32,840 Why will you have five times the growth? 180 00:08:32,920 --> 00:08:35,560 Ma'am, the market is so big. The consumer has no choice. 181 00:08:36,600 --> 00:08:39,120 Presently, our capacity is 50,000 cases. 182 00:08:39,200 --> 00:08:41,600 Our products get sold within 10 days of manufacturing. 183 00:08:41,680 --> 00:08:43,600 Okay, tell me the economics. 184 00:08:43,680 --> 00:08:45,320 How much does a beer cost? 185 00:08:45,400 --> 00:08:46,600 - Sir, MRP? - Yes. 186 00:08:46,640 --> 00:08:50,120 The MRP varies from market to market because of excise laws. 187 00:08:50,280 --> 00:08:50,760 Okay. 188 00:08:50,840 --> 00:08:53,480 This can is worth 100 rupees. 189 00:08:53,640 --> 00:08:56,920 Out of which, 45 is for excise duty. 190 00:08:57,120 --> 00:08:59,840 From 55, 33 rupees is COGS. 191 00:09:00,760 --> 00:09:02,560 We're left with 22 rupees as gross margin. 192 00:09:02,640 --> 00:09:05,280 The gross margin across states 193 00:09:05,360 --> 00:09:07,520 differs and is high and low. 194 00:09:08,440 --> 00:09:11,280 How much commission does the distributor and retailer charge? 195 00:09:11,800 --> 00:09:15,280 The government has fixed the fee for distributors and retailers. 196 00:09:15,360 --> 00:09:18,680 - What is the approximate amount? - 40-50 rupees. 197 00:09:19,680 --> 00:09:21,040 What's your net margin? 198 00:09:21,120 --> 00:09:23,000 Sir, we're burning in terms of net margin. 199 00:09:23,600 --> 00:09:24,840 We're at a loss at present. 200 00:09:25,360 --> 00:09:27,680 So, this is the biggest problem in this industry. 201 00:09:27,760 --> 00:09:29,720 You have to give a lot of incentives to shops. 202 00:09:29,800 --> 00:09:31,200 No, sir. There are no incentives. 203 00:09:31,280 --> 00:09:32,600 Not in the strong beer market, sir. 204 00:09:32,680 --> 00:09:34,240 Incentives are a part of the premium market. 205 00:09:34,320 --> 00:09:37,080 So, why are you burning on the unit of economics? 206 00:09:37,960 --> 00:09:39,440 Sir, we are selling 50,000 cases. 207 00:09:39,520 --> 00:09:41,240 We break even on 1,10,000 cases. 208 00:09:42,080 --> 00:09:43,880 In Delhi, whether I sell one case or 209 00:09:44,000 --> 00:09:47,440 one lakh, or a crore cases, I have to pay 15 lakhs for the license. 210 00:09:47,480 --> 00:09:47,960 Exactly. 211 00:09:48,000 --> 00:09:50,680 I got it. You have many fixed costs. 212 00:09:50,760 --> 00:09:53,760 It won't get covered unless the volume is increased. 213 00:09:55,680 --> 00:09:57,400 How much money have you invested in the business? 214 00:09:57,440 --> 00:10:01,600 Sir, as founders, we've collectively invested 3.5 crores. 215 00:10:02,240 --> 00:10:03,800 We even took a debt at the initial stage. 216 00:10:03,880 --> 00:10:05,480 To be bootstrapped, for the funding. 217 00:10:05,560 --> 00:10:07,800 - Where did you take it from? - Punjab National Bank. 218 00:10:07,880 --> 00:10:09,840 Our debt is 3.40 crores. 219 00:10:09,960 --> 00:10:11,320 Did you mortgage something? 220 00:10:11,400 --> 00:10:12,960 Yes, my property. 221 00:10:13,040 --> 00:10:15,160 [music playing] 222 00:10:16,000 --> 00:10:17,280 And what about the rest? 223 00:10:17,840 --> 00:10:19,400 We have another debt for 50 lakhs. 224 00:10:19,480 --> 00:10:22,720 Two GECL loans of 35 lakhs each. That makes it 70 lakhs. 225 00:10:24,280 --> 00:10:26,760 What's the total debt and total equity? 226 00:10:26,840 --> 00:10:30,160 The total debt is 4.3 crore. 227 00:10:30,960 --> 00:10:34,440 And equity is around 5.5. 228 00:10:34,600 --> 00:10:36,520 Just a moment. How much is the equity? 229 00:10:36,600 --> 00:10:37,640 5.5 crores. 230 00:10:37,720 --> 00:10:39,480 We hold 3.35. 231 00:10:39,560 --> 00:10:41,000 Both of you hold 3.35. And? 232 00:10:41,120 --> 00:10:43,480 - The remaining is with the investor. - Who are they? 233 00:10:45,000 --> 00:10:47,040 There's an investor. 234 00:10:47,120 --> 00:10:49,160 It's Punj Lloyd. 235 00:10:49,280 --> 00:10:50,560 Okay, your workplace. 236 00:10:50,640 --> 00:10:51,880 Yes, my workplace. 237 00:10:52,000 --> 00:10:54,760 How much did they give you and at what valuation? 238 00:10:55,600 --> 00:10:58,200 Post-money valuation 16.66 crores. 239 00:10:58,240 --> 00:10:58,640 Okay. 240 00:10:58,680 --> 00:11:02,000 - We received the money on Dec 4. - How much money was it? 241 00:11:02,120 --> 00:11:03,880 - 2.7 crores. - Okay. 242 00:11:03,960 --> 00:11:06,200 We are currently raising a round 243 00:11:06,280 --> 00:11:08,760 for 15 crores. It's a convertible round. 244 00:11:09,640 --> 00:11:13,360 We have already received 2.6 crores. 245 00:11:13,440 --> 00:11:16,280 And we have signed term sheets for 9 crores. 246 00:11:16,360 --> 00:11:17,960 At what valuation are you raising funds now? 247 00:11:18,040 --> 00:11:19,120 133. 248 00:11:20,360 --> 00:11:24,000 What's the value mentioned in the term sheet? 249 00:11:24,120 --> 00:11:25,280 It's a convertible round. 250 00:11:25,400 --> 00:11:26,720 So, the valuation cap is 100 crores. 251 00:11:26,800 --> 00:11:28,280 There's a floor and ceiling, sir. 252 00:11:28,400 --> 00:11:30,000 - What's the floor like? - The floor is 80. 253 00:11:30,080 --> 00:11:31,640 - That's what I wanted to know. - The ceiling is 100. 254 00:11:31,720 --> 00:11:34,240 But the floor only kicks in if we're not able to raise 255 00:11:34,240 --> 00:11:35,080 in the next 12 months. 256 00:11:35,160 --> 00:11:37,320 [music playing] 257 00:11:37,920 --> 00:11:39,600 I want to be out of it. 258 00:11:39,680 --> 00:11:41,680 I think you have the funds. 259 00:11:42,400 --> 00:11:44,160 Your business is doing well too. 260 00:11:44,240 --> 00:11:46,680 There's not much value that I can add to it. 261 00:11:46,800 --> 00:11:49,920 You seem to be a strong player in your market. 262 00:11:50,000 --> 00:11:50,800 That's my line. 263 00:11:50,880 --> 00:11:52,320 So, it's Aman's dialogue. 264 00:11:52,400 --> 00:11:54,560 [laughs] 265 00:11:54,680 --> 00:11:56,760 Okay, I feel that 266 00:11:56,840 --> 00:11:59,440 I don't have much value to add to it. So, I'm out. 267 00:12:00,440 --> 00:12:01,920 But, congratulations! 268 00:12:02,000 --> 00:12:04,000 - Thank you, sir. - Thank you. 269 00:12:04,080 --> 00:12:07,840 I don't have any interest in this area of strong beers. 270 00:12:09,480 --> 00:12:10,600 And expertise. 271 00:12:10,720 --> 00:12:14,800 And I don't think I can add value through my expertise either. 272 00:12:14,880 --> 00:12:16,400 [laughs] 273 00:12:16,520 --> 00:12:17,960 So I'm out. 274 00:12:20,720 --> 00:12:22,840 As far as distribution is concerned, 275 00:12:22,920 --> 00:12:25,720 - it's mostly state-run. - Yes. 276 00:12:25,800 --> 00:12:27,240 [epic music] 277 00:12:27,360 --> 00:12:29,840 That's one thing in India and where this isn't the case, 278 00:12:30,800 --> 00:12:35,080 such businesses are run by sketchy players. 279 00:12:35,160 --> 00:12:36,120 Hmm! 280 00:12:37,120 --> 00:12:38,840 And it results in some mishaps too. 281 00:12:40,000 --> 00:12:42,120 What have you thought about it? 282 00:12:42,200 --> 00:12:43,600 How will you tackle it? 283 00:12:44,880 --> 00:12:46,760 Sir, there is a private market in Delhi 284 00:12:46,840 --> 00:12:48,440 operating for the last five years. 285 00:12:49,600 --> 00:12:52,360 Our bad debt has always been less than 0.5%. 286 00:12:52,480 --> 00:12:54,920 We don't invest too much money in the market to result in bad debt. 287 00:12:55,000 --> 00:12:56,160 No, I'm not saying that. 288 00:12:56,240 --> 00:12:59,240 I agree with you to an extent. 289 00:13:00,400 --> 00:13:02,880 Who cares when people don't know about you? 290 00:13:02,960 --> 00:13:06,000 But when you reach a high scale, 291 00:13:06,120 --> 00:13:08,680 the alcohol mafia 292 00:13:08,760 --> 00:13:11,120 comes to know about your presence. That's the reason, 293 00:13:12,280 --> 00:13:13,560 your statement 294 00:13:13,640 --> 00:13:16,080 "there aren't many brands for strong beer 295 00:13:17,120 --> 00:13:19,960 and the market is not captured." This is the reason. 296 00:13:20,040 --> 00:13:22,320 It's not that people don't know about the gap in supply. 297 00:13:22,400 --> 00:13:25,560 The reason is the big players don't allow entry beyond a certain scale. 298 00:13:26,080 --> 00:13:27,240 The real problem is that. 299 00:13:27,360 --> 00:13:28,880 What have you thought about it? 300 00:13:28,960 --> 00:13:32,680 After reaching the scale of Rs. 100 crores, what will you do? 301 00:13:32,760 --> 00:13:34,280 How will you tackle this problem? 302 00:13:35,000 --> 00:13:38,400 Sir, the main point is that mentors and advisors have come on board. 303 00:13:38,480 --> 00:13:40,320 They have worked for big companies. 304 00:13:40,400 --> 00:13:41,520 They have experience of around ten years. 305 00:13:41,640 --> 00:13:44,520 And they know who are good customers. 306 00:13:44,600 --> 00:13:45,920 [sweeping music] 307 00:13:46,000 --> 00:13:49,720 The second point is products are sent through invoices to retailers. 308 00:13:50,840 --> 00:13:52,680 If 1,000 cartons are sent to them, 309 00:13:52,760 --> 00:13:54,200 their order for the next 1,000 cartons will be accepted 310 00:13:54,280 --> 00:13:55,400 only after they pay for the last order. 311 00:13:55,480 --> 00:13:57,920 I think you need an elder brother 312 00:13:58,040 --> 00:13:59,560 along with your uncle. 313 00:14:00,880 --> 00:14:02,000 You are right. 314 00:14:02,080 --> 00:14:04,200 You need to do something about it. 315 00:14:05,360 --> 00:14:07,840 Please rope him in, in your cap table. 316 00:14:07,960 --> 00:14:09,280 I think 317 00:14:09,560 --> 00:14:11,840 for a valuation of Rs. 100 crores 318 00:14:12,480 --> 00:14:13,640 if I invest Rs. 1 crore... 319 00:14:13,760 --> 00:14:16,040 I hope you agree to a valuation of Rs. 100 crores. 320 00:14:16,200 --> 00:14:18,600 I'd get 1% equity. It's too less. 321 00:14:19,840 --> 00:14:21,600 I reserve my money 322 00:14:21,680 --> 00:14:25,440 for a founder who needs my skills, 323 00:14:25,520 --> 00:14:26,880 my help 324 00:14:26,960 --> 00:14:29,120 and the one who helps me earn loads of money. 325 00:14:30,600 --> 00:14:32,760 For that reason, I'm out. Good luck. 326 00:14:33,720 --> 00:14:36,760 I think you'll face a big problem. 327 00:14:36,880 --> 00:14:38,880 Actually, I have many friends in this industry 328 00:14:38,960 --> 00:14:41,800 and we collaborated with them. 329 00:14:41,880 --> 00:14:43,320 [thrilling music] 330 00:14:43,400 --> 00:14:45,320 I think after a level, 331 00:14:45,400 --> 00:14:47,200 a struggle begins. 332 00:14:48,520 --> 00:14:49,320 The thing is, 333 00:14:49,400 --> 00:14:53,200 the big players start manufacturing such beers 334 00:14:53,320 --> 00:14:54,920 and they arm-twist 335 00:14:55,040 --> 00:14:58,320 the retailers and distributors so you could face problems in future. 336 00:14:59,280 --> 00:15:02,360 I want to be out for now. 337 00:15:03,520 --> 00:15:04,760 But you guys are fab. 338 00:15:04,840 --> 00:15:06,280 - Thanks! - Thank you so much! 339 00:15:06,920 --> 00:15:09,040 It requires heavy working capital 340 00:15:09,120 --> 00:15:11,640 and it involves distribution too. 341 00:15:12,920 --> 00:15:15,800 You already have the term sheets 342 00:15:15,880 --> 00:15:17,120 at a good value. 343 00:15:17,200 --> 00:15:21,600 Even if I invest money, 1% won't suffice. 344 00:15:21,680 --> 00:15:23,680 It isn't enough to help generate my interest. 345 00:15:25,080 --> 00:15:27,680 I wish you all the best but I want to be out for today. 346 00:15:28,400 --> 00:15:29,480 Thank you! 347 00:15:29,560 --> 00:15:30,880 - All the best! - Thank you! 348 00:15:30,960 --> 00:15:32,720 [sweeping music] 349 00:15:34,280 --> 00:15:37,600 [bubbling] 350 00:15:43,760 --> 00:15:46,320 [dramatic music] 351 00:15:54,640 --> 00:15:56,760 - Greetings, Sharks. - Greetings! 352 00:15:56,880 --> 00:15:58,360 Don't all of you think 353 00:15:58,440 --> 00:16:00,440 that you need a break from Fintech 354 00:16:00,520 --> 00:16:02,200 and other such businesses? 355 00:16:02,320 --> 00:16:03,800 - Of course! - Yes! 356 00:16:03,920 --> 00:16:05,760 So please relax today, 357 00:16:07,040 --> 00:16:10,120 listen to us for a few minutes and just chill. 358 00:16:12,440 --> 00:16:15,720 Sharks, we sell ice and help people chill. 359 00:16:15,840 --> 00:16:17,880 [carnival music] 360 00:16:24,080 --> 00:16:26,760 It's an irreplaceable part of our lives today. 361 00:16:26,840 --> 00:16:28,400 Sometimes it accompanied us at parties 362 00:16:28,480 --> 00:16:30,080 and at other times, it helped heal our wounds. 363 00:16:30,160 --> 00:16:31,400 We can be sure about one thing 364 00:16:31,480 --> 00:16:34,400 that Devdas must have surely been supported by ice if not anyone else. 365 00:16:34,520 --> 00:16:36,400 [laughing] 366 00:16:36,480 --> 00:16:39,720 Sharks, it's not that we don't get ice in the market. 367 00:16:40,680 --> 00:16:43,800 Have we ever thought about how ice is manufactured? 368 00:16:43,880 --> 00:16:45,800 What kind of water do they use? 369 00:16:45,880 --> 00:16:48,520 Was the water taken from RO, the kitchen sink 370 00:16:48,600 --> 00:16:50,280 or a nearby drainage system? 371 00:16:51,600 --> 00:16:54,720 Keeping all these things in mind, this industry needs 372 00:16:54,800 --> 00:16:57,640 a hygienic and trusted brand. 373 00:16:57,960 --> 00:17:00,480 So we launched Dr. Cubes. 374 00:17:00,560 --> 00:17:02,560 [inspirational music] 375 00:17:05,320 --> 00:17:07,920 Dr. Cubes gives you fresh and hygienic ice 376 00:17:15,920 --> 00:17:17,480 Dr. Cubes has a record 377 00:17:17,560 --> 00:17:19,200 of on-time delivery 378 00:17:19,320 --> 00:17:21,080 through Swiggy, Zepto, 379 00:17:21,160 --> 00:17:25,160 Blinkit, BigBasket and other such quick commerce e-platforms. 380 00:17:30,080 --> 00:17:32,120 That's the reason, during a weekend we feel 381 00:17:32,200 --> 00:17:33,920 "Mona, it's the real gold." 382 00:17:34,000 --> 00:17:35,800 [laughing] 383 00:17:36,680 --> 00:17:40,240 Dr. Cubes isn't just limited to home deliveries. 384 00:17:40,320 --> 00:17:43,880 We handle the ice requirements for other industries too. 385 00:17:44,400 --> 00:17:47,360 Also, we provide multiple types of ice. 386 00:18:23,120 --> 00:18:27,280 It means businesses can be generated from minuscule problems. 387 00:18:27,400 --> 00:18:28,840 [ethereal music] 388 00:18:28,960 --> 00:18:31,120 Are these different types of ice? 389 00:18:31,240 --> 00:18:33,160 [ethereal music] 390 00:18:35,160 --> 00:18:37,040 I want to have a look before they melt. 391 00:18:37,120 --> 00:18:38,080 - Sure, sir! - Sure! 392 00:18:38,160 --> 00:18:40,520 - It's an unorganised industry. - That's true. 393 00:18:40,960 --> 00:18:42,960 [upbeat music] 394 00:18:47,720 --> 00:18:51,160 - It has a flower inside. - Yes. Flowers, fruits and a rose. 395 00:18:54,760 --> 00:18:56,200 It's so big. 396 00:18:58,600 --> 00:19:00,680 [upbeat music] 397 00:19:03,840 --> 00:19:05,600 Its size 398 00:19:05,920 --> 00:19:09,280 is so odd that when we drink... Look! It's clinking. 399 00:19:09,560 --> 00:19:13,920 - Such cubes are used in cocktails and mocktails nowadays. - So big! 400 00:19:14,320 --> 00:19:15,280 - Yes! - Right! 401 00:19:15,400 --> 00:19:17,960 There's a saying, don't cast pearls before swine. 402 00:19:20,160 --> 00:19:21,320 You don't drink so... 403 00:19:21,400 --> 00:19:23,080 Do you prefer such ice cubes? 404 00:19:24,000 --> 00:19:25,640 [comical music] 405 00:19:28,240 --> 00:19:29,760 - Please tell me something. - Yes. 406 00:19:30,000 --> 00:19:32,080 Most diseases, 407 00:19:32,200 --> 00:19:34,040 especially throat infections 408 00:19:34,160 --> 00:19:35,480 are caused due to unhygienic ice. 409 00:19:36,480 --> 00:19:38,120 But still, a hotelier 410 00:19:38,360 --> 00:19:40,520 would search for cost advantage. 411 00:19:41,720 --> 00:19:44,520 "I won't buy from you as the other brand is cheap 412 00:19:44,800 --> 00:19:46,400 and I really don't care about 413 00:19:46,520 --> 00:19:50,840 health. You know, customers accepted the product we serve." 414 00:19:50,920 --> 00:19:54,840 What advantage do you give so that the hotel industry 415 00:19:55,280 --> 00:19:56,400 buys your ice? 416 00:19:56,840 --> 00:19:59,320 Whenever we tie up with another business, 417 00:19:59,400 --> 00:20:02,400 our ice is tested on 65 parameters. 418 00:20:03,320 --> 00:20:05,400 We provide them with the lab test report. 419 00:20:05,480 --> 00:20:07,520 If their customer asks them, 420 00:20:07,600 --> 00:20:10,080 "How did you make the ice? What procedure did you follow? 421 00:20:10,160 --> 00:20:11,800 What are the tests it went through?" 422 00:20:11,880 --> 00:20:14,440 They can show those tests to the customers as proof. 423 00:20:15,840 --> 00:20:19,600 At the end of the day, a hotel or a pub values its reputation. 424 00:20:21,200 --> 00:20:23,640 Do you have an estimate of how big this market is? 425 00:20:23,760 --> 00:20:25,240 How much ice is sold? 426 00:20:35,440 --> 00:20:36,520 by others in terms of cost? 427 00:20:37,240 --> 00:20:39,040 In the Bengaluru market, 428 00:20:39,120 --> 00:20:41,520 ice is sold for around Rs. 4 per kg 429 00:20:50,920 --> 00:20:52,320 only because of our service. 430 00:20:52,400 --> 00:20:54,240 - What services do you give? - The customer is paying double the price. 431 00:20:54,360 --> 00:20:56,680 - You must have a good reason. - It's almost triple. 432 00:20:57,240 --> 00:21:00,120 Ice is a product that must be delivered on-time. 433 00:21:00,200 --> 00:21:02,480 So your service is just-in-time delivery. 434 00:21:03,280 --> 00:21:05,520 Yes and irrespective 435 00:21:05,600 --> 00:21:07,400 of our operational challenges, 436 00:21:07,480 --> 00:21:09,680 we make sure that quality ice is delivered every time. 437 00:21:10,400 --> 00:21:13,600 Do you supervise the delivery or use an e-commerce platform? 438 00:21:13,720 --> 00:21:17,120 We have our own logistics department. 439 00:21:18,480 --> 00:21:21,120 Let me explain our business to you in a simple way. 440 00:21:21,200 --> 00:21:25,080 We aren't claiming that we are making a different kind of ice. 441 00:21:26,320 --> 00:21:29,960 When we entered the market, we found that the customers were frustrated 442 00:21:30,520 --> 00:21:33,520 for not getting ice on time. 443 00:21:34,600 --> 00:21:35,960 The local players 444 00:21:36,040 --> 00:21:38,160 didn't take professionalism and on-time service 445 00:21:38,280 --> 00:21:40,800 - seriously. That's the reason... - That's true. 446 00:21:40,880 --> 00:21:42,440 We started in 2017 447 00:21:42,600 --> 00:21:45,600 with four old machines weighing 200 kg. 448 00:21:45,720 --> 00:21:48,640 We expanded our plant with machines weighing 10 tons in 2019 449 00:21:48,720 --> 00:21:51,120 - and now we produce at overcapacity. - Amazing. 450 00:21:51,480 --> 00:21:54,200 We have logistics comprising five vehicles. 451 00:21:54,920 --> 00:21:56,560 We cover 500 kilometres 452 00:21:56,640 --> 00:21:59,920 within Bengaluru daily since 4:30 am early in the morning. 453 00:22:00,000 --> 00:22:03,200 Currently, the fish and meat industry requires ice. 454 00:22:03,280 --> 00:22:06,240 You know that the fish and meat industry saw a boom in Bengaluru. 455 00:22:06,320 --> 00:22:09,200 Ice is the backbone of the fish and meat industry. 456 00:22:10,080 --> 00:22:12,040 We have tied up deals with corporates 457 00:22:12,120 --> 00:22:13,400 like the Tata Group, 458 00:22:13,480 --> 00:22:15,520 Nature's Basket and other such companies. 459 00:22:15,600 --> 00:22:18,680 They need tested and verified ice for fish and other such products. 460 00:22:18,800 --> 00:22:20,160 We supply to them 461 00:22:20,240 --> 00:22:22,680 and we can proudly say that for the last four to four and a half years, 462 00:22:22,760 --> 00:22:26,000 - we have been supplying ice to all stores of Tata Group. - Very nice. 463 00:22:26,280 --> 00:22:29,000 What about your sales? 464 00:23:06,120 --> 00:23:08,160 It's a 60:40 ratio. 465 00:23:15,200 --> 00:23:16,880 Your gross margin. Okay. 466 00:23:17,160 --> 00:23:19,440 - What's your net margin? - 35%! 467 00:23:19,520 --> 00:23:21,120 - Is it after delivery? - Yes. 468 00:23:21,200 --> 00:23:23,480 [dramatic music] 469 00:23:23,600 --> 00:23:26,320 I mean you are talking about Rs. 87.50 lakhs. 470 00:23:27,160 --> 00:23:29,560 - Wow! - So that will be your profit. 471 00:23:30,000 --> 00:23:31,200 It's a great business. 472 00:23:31,280 --> 00:23:33,280 [dramatic music] 473 00:23:34,320 --> 00:23:36,160 Why didn't anyone enter this business? 474 00:23:36,280 --> 00:23:39,120 The RO Water brands 475 00:23:39,200 --> 00:23:41,360 like Bisleri and Aquafina. 476 00:23:41,440 --> 00:23:43,440 Why didn't they enter this business? 477 00:23:44,720 --> 00:23:46,600 I have a brand setup and even distribution channels. 478 00:23:46,800 --> 00:23:48,360 I don't even need to market it. 479 00:23:48,440 --> 00:23:52,600 I just have to write Bisleri on my ice cube packet. 480 00:23:52,720 --> 00:23:55,800 I will set up machines overnight, 481 00:23:55,880 --> 00:23:57,760 a plant and grow my business. 482 00:23:57,840 --> 00:23:59,560 [music playing] 483 00:23:59,680 --> 00:24:02,520 What is the cost of setting up a plant of 10 tonnes? 484 00:24:02,600 --> 00:24:04,080 It will cost you around 60 lakhs. 485 00:24:04,160 --> 00:24:06,040 - Then anybody can do it. - Yes, anybody. 486 00:24:06,920 --> 00:24:08,720 It is a very 487 00:24:08,800 --> 00:24:11,760 high-end-operation job. It's not just about production. 488 00:24:11,840 --> 00:24:14,040 We have to take care of logistics, on-time delivery, 489 00:24:14,160 --> 00:24:15,560 handle customers, 490 00:24:15,640 --> 00:24:16,600 and most importantly, 491 00:24:16,680 --> 00:24:18,760 we serve big corporates 492 00:24:18,880 --> 00:24:21,120 as well as small juice shops. 493 00:24:21,960 --> 00:24:24,600 What is your per-delivery cost in the B2C domain? 494 00:24:24,720 --> 00:24:27,360 In direct B2C, 495 00:24:27,440 --> 00:24:29,480 we are using online platforms. 496 00:24:30,160 --> 00:24:32,120 You don't own the B2C deliveries. 497 00:24:32,200 --> 00:24:33,000 No. 498 00:24:33,080 --> 00:24:35,160 - You only own wholesale delivery. - Yes. 499 00:24:35,240 --> 00:24:37,960 How much will a delivery cost if you do it yourself? 500 00:24:38,040 --> 00:24:41,240 Sir, around 22-25 rupees per kilogram. 501 00:24:41,320 --> 00:24:42,800 But if we sell it at MRP 502 00:24:42,880 --> 00:24:44,800 which is currently 85 rupees. 503 00:24:44,880 --> 00:24:47,440 We sell it to Swiggy and Blinkit at 30 rupees. 504 00:24:47,520 --> 00:24:49,480 One kg is 85 rupees? 505 00:24:49,560 --> 00:24:51,840 [music playing] 506 00:24:51,960 --> 00:24:54,440 - You just said 8 rupees. - Exactly. 507 00:24:54,520 --> 00:24:55,960 That is on the B2B site. 508 00:24:56,080 --> 00:24:58,360 Then, there's no demand and no business happening. 509 00:24:59,080 --> 00:25:01,200 For occasional use, for parties, 510 00:25:01,280 --> 00:25:03,640 someone might buy a packet or two in a year. 511 00:25:04,680 --> 00:25:06,640 Otherwise, they use trays in their house to make ice. 512 00:25:06,720 --> 00:25:08,760 Why would they pay 85 rupees? That's the problem. 513 00:25:10,080 --> 00:25:12,440 B2C seems very difficult to do. 514 00:25:14,560 --> 00:25:17,640 What's your focus? B2C or B2B? 515 00:25:18,280 --> 00:25:19,760 Our focus is B2C. 516 00:25:19,840 --> 00:25:22,480 Because we want to build our brand, Dr. Cubes over there. 517 00:25:22,560 --> 00:25:24,440 If B2C is your focus, 518 00:25:24,560 --> 00:25:27,320 and you're relying on Swiggy and all, 519 00:25:27,440 --> 00:25:29,920 your USP is timeliness. 520 00:25:30,040 --> 00:25:31,560 How will you guarantee that? 521 00:25:31,640 --> 00:25:33,400 When we say on-time delivery, 522 00:25:33,520 --> 00:25:35,960 it's for our direct customers. 523 00:25:36,040 --> 00:25:39,440 Like, the hospitality industry, it's under our control. 524 00:25:40,480 --> 00:25:42,320 But despite doing all that, 525 00:25:42,400 --> 00:25:45,880 your business is based in Bengaluru. It's under 1 crore. 526 00:25:47,120 --> 00:25:49,320 Despite being the only player, 527 00:25:49,400 --> 00:25:51,880 either something is going wrong or the market is too small. 528 00:25:51,960 --> 00:25:54,360 [music playing] 529 00:25:54,840 --> 00:25:57,560 Look, I learnt something new today. 530 00:25:57,760 --> 00:26:00,200 I realised that the water sector has been organized. 531 00:26:01,080 --> 00:26:03,920 Presently, almost everybody 532 00:26:04,040 --> 00:26:05,720 drinks Bisleri and other purified water. 533 00:26:05,840 --> 00:26:08,360 RO or mineral water. 534 00:26:08,440 --> 00:26:11,960 There's still a question mark and I'll do my research too. 535 00:26:12,040 --> 00:26:14,080 Why isn't the ice industry organised yet? 536 00:26:14,480 --> 00:26:17,000 If it's an opportunity, then it's huge. 537 00:26:17,400 --> 00:26:19,480 Then it needs to be branded. 538 00:26:21,080 --> 00:26:25,000 You have to invest 100-300 crores in such businesses 539 00:26:25,080 --> 00:26:27,800 because it's a mass business. It's a small item. 540 00:26:27,880 --> 00:26:29,360 [music playing] 541 00:26:29,440 --> 00:26:31,720 It can't be changed with 542 00:26:31,720 --> 00:26:33,600 the investment that you're asking for. 543 00:26:33,880 --> 00:26:37,200 RO water companies also have the opportunity to get into this. 544 00:26:37,320 --> 00:26:39,360 So, there are many unknown spots. I'm out. 545 00:26:40,480 --> 00:26:42,880 But you've found a great opportunity. 546 00:26:43,000 --> 00:26:44,520 Congratulations on that! 547 00:26:45,240 --> 00:26:48,560 My estimate is that your sales are low. 548 00:26:49,080 --> 00:26:51,160 Because there is no demand. 549 00:26:52,280 --> 00:26:54,520 And that demand is low 550 00:26:54,600 --> 00:26:58,320 because of the Indian consumer mindset. 551 00:26:59,400 --> 00:27:00,920 And for that reason, I'm out. 552 00:27:01,920 --> 00:27:04,160 Have you studied any global benchmarks? 553 00:27:04,280 --> 00:27:05,680 Any ice company 554 00:27:05,800 --> 00:27:07,840 in the US or China that has grown to be a giant? 555 00:27:07,840 --> 00:27:09,360 - Yeah, Reddy Ice. - Where is it? 556 00:27:09,360 --> 00:27:10,680 - The US. - How big is it? 557 00:27:10,800 --> 00:27:12,400 They do it across the US. 558 00:27:12,480 --> 00:27:13,800 - Oh, wow! - The US market 559 00:27:13,800 --> 00:27:16,200 is 233 billion dollars. 560 00:27:16,200 --> 00:27:18,240 - Wow! - Ice industry alone. 561 00:27:18,680 --> 00:27:21,840 What's the valuation of Reddy Ice? 562 00:27:21,920 --> 00:27:24,720 I'm sorry. I don't have those numbers. 563 00:27:24,800 --> 00:27:26,400 Oh! 564 00:27:26,880 --> 00:27:28,960 I think 565 00:27:29,040 --> 00:27:32,080 you're hard-working and sincere. 566 00:27:32,200 --> 00:27:35,000 I get a very honest feeling when I talk to you. 567 00:27:35,080 --> 00:27:38,040 But your instinct 568 00:27:38,120 --> 00:27:40,440 that has made you grow your business so far, 569 00:27:40,520 --> 00:27:42,320 it won't take you ahead. 570 00:27:43,760 --> 00:27:45,880 You are playing by your gut feeling. 571 00:27:45,960 --> 00:27:49,000 You have to now step back and understand the industry. 572 00:27:49,600 --> 00:27:53,720 You're here to build a big business in this industry. 573 00:27:53,840 --> 00:27:56,960 But when asked about the valuation of the biggest company in the US, 574 00:27:57,080 --> 00:27:58,360 you're unaware of it. 575 00:27:59,720 --> 00:28:01,480 I will advise you 576 00:28:01,560 --> 00:28:04,920 to think and plan how to make it big. 577 00:28:05,040 --> 00:28:07,480 But, it's unclear to me yet. 578 00:28:07,600 --> 00:28:10,160 So, I'm out. Good luck to you! 579 00:28:11,920 --> 00:28:14,320 I reckon that it's a wholesale business 580 00:28:14,400 --> 00:28:16,160 where you have to sell lots of ice at a cheaper rate. 581 00:28:17,280 --> 00:28:19,960 Don't venture into B2C. 582 00:28:20,920 --> 00:28:22,880 The Average Order Value is 85 rupees. 583 00:28:23,000 --> 00:28:26,160 How much ice can a person buy? Not more than 1 kg or 2 kg. 584 00:28:26,880 --> 00:28:29,680 My interest lies more in the B2C segment. 585 00:28:29,760 --> 00:28:32,040 But frankly, I think you shouldn't make it B2C. 586 00:28:32,120 --> 00:28:33,440 [suspenseful music] 587 00:28:33,520 --> 00:28:35,000 So I want to be out today. 588 00:28:35,120 --> 00:28:36,960 - But all the best to you. - Thank you so much. 589 00:28:37,440 --> 00:28:41,080 I think there comes a moment in every industry 590 00:28:41,240 --> 00:28:43,200 when it turns organised from unorganised. 591 00:28:43,280 --> 00:28:44,680 [suspenseful music] 592 00:28:44,760 --> 00:28:47,240 For example, the chicken industry and the meat industry. 593 00:28:47,360 --> 00:28:49,160 Licious and TenderCuts entered the market 594 00:28:49,280 --> 00:28:52,120 and they became the bigger brands. 595 00:28:52,200 --> 00:28:54,000 I'm not sure 596 00:28:54,080 --> 00:28:56,520 but Dr. Cubes can become such a brand 597 00:28:56,600 --> 00:28:58,120 as it has the potential. 598 00:28:59,160 --> 00:29:01,720 But I have no idea where this industry is heading. 599 00:29:01,800 --> 00:29:03,520 [suspenseful music] 600 00:29:03,600 --> 00:29:04,840 I wish you all the best 601 00:29:04,920 --> 00:29:08,160 so that you become such a company in this industry. 602 00:29:08,280 --> 00:29:09,080 - Thank you so much. - Thank you! 603 00:29:09,160 --> 00:29:10,720 - I'm out for now. - Thank you! 604 00:29:10,800 --> 00:29:12,520 - We salute your entrepreneurship. - Thank you! 605 00:29:12,640 --> 00:29:14,000 - Good luck, guys! - Good luck! 606 00:29:14,080 --> 00:29:15,320 - Thank you! - Thank you! 607 00:29:16,720 --> 00:29:18,720 [sweeping music] 608 00:29:25,520 --> 00:29:27,920 [ethereal music] 609 00:29:40,760 --> 00:29:42,720 Sharks, an average person 610 00:29:42,800 --> 00:29:45,480 wakes up in the morning, gets ready 611 00:29:45,560 --> 00:29:49,160 and starts his day with enthusiasm. 612 00:29:50,000 --> 00:29:54,000 He resolves to be productive the whole day before leaving home 613 00:29:54,120 --> 00:29:57,600 but as soon as he sets out, 614 00:29:57,680 --> 00:30:00,600 he faces rejection. 615 00:30:01,440 --> 00:30:03,760 "Autorickshaw driver, will you drop me at the metro station?" 616 00:30:04,960 --> 00:30:06,920 And they get an uncaring and 617 00:30:07,000 --> 00:30:10,240 - expressionless reply... - No! 618 00:30:11,400 --> 00:30:12,760 "I'll get a taxi." 619 00:30:13,200 --> 00:30:16,960 But they get a message, 'your ride got cancelled.' 620 00:30:18,520 --> 00:30:21,520 Sharks, we are from Bengaluru 621 00:30:21,600 --> 00:30:23,160 and my name is Girish Nagpal. 622 00:30:27,120 --> 00:30:28,560 [motivational music] 623 00:30:28,640 --> 00:30:31,800 MetroRide is an AI-based, 100% EV platform 624 00:30:54,040 --> 00:30:54,840 Awesome. 625 00:31:14,640 --> 00:31:16,400 [thrilling music] 626 00:31:28,240 --> 00:31:29,920 This problem has been there for ages. 627 00:31:30,000 --> 00:31:32,680 Why can't these services be offered on normal bikes? 628 00:31:32,800 --> 00:31:34,360 Please share your journey with us 629 00:31:34,440 --> 00:31:36,760 and how long have you been doing this? 630 00:31:36,840 --> 00:31:40,640 I used to live in South Bengaluru near JP Nagar 5 years ago. 631 00:31:40,720 --> 00:31:44,880 I used to commute for 70 to 90 minutes daily. 632 00:31:45,640 --> 00:31:48,920 When the Metro started, I thought my life would become easier. 633 00:31:49,000 --> 00:31:52,480 I tried thrice to reach the metro station. 634 00:31:52,600 --> 00:31:55,200 Nobody is ready to give a ride for such a short distance. 635 00:31:56,240 --> 00:32:00,120 To make the long story short, I went back to using my private vehicle. 636 00:32:00,200 --> 00:32:02,640 I always felt 637 00:32:02,720 --> 00:32:04,680 that a Metro ride 638 00:32:04,760 --> 00:32:08,440 is too convenient as it's air-conditioned and cheap. 639 00:32:08,520 --> 00:32:12,280 - Most importantly, our ETA remains fixed. - That's right. 640 00:32:12,360 --> 00:32:14,080 And it's ironic 641 00:32:14,200 --> 00:32:17,200 that even though 19 Metros are operating currently, 642 00:32:17,280 --> 00:32:19,840 almost every Metro 643 00:32:27,120 --> 00:32:29,880 I'm not experienced in this field but I'm an experienced businessman. 644 00:32:29,960 --> 00:32:32,520 Both of us have twenty years of experience. 645 00:32:32,600 --> 00:32:36,280 I've worked in leadership positions for 15 years in corporates. 646 00:32:37,160 --> 00:32:39,800 - Kaaman, what about you? - I'm from a technical background. 647 00:32:39,880 --> 00:32:42,880 I worked in Oracle for 6 years and then I went to the US. 648 00:32:42,960 --> 00:32:45,240 I worked in the US for 12 years in various companies. 649 00:32:45,320 --> 00:32:48,400 I met Girish in India in 2020. 650 00:32:48,480 --> 00:32:50,320 We are friends of 15 years after staying together as roommates. 651 00:32:51,400 --> 00:32:55,640 You left a well-paying job in the US 652 00:32:55,720 --> 00:32:57,480 and moved to India for a start-up. 653 00:32:57,600 --> 00:32:58,680 Sir, I haven't moved here yet. 654 00:32:58,760 --> 00:33:00,960 - Oh! - There's a story behind it. 655 00:33:01,040 --> 00:33:03,600 When we started this business in 2020, 656 00:33:03,680 --> 00:33:08,040 Girish shared his problem with me. I faced the exact problem in the US. 657 00:33:08,720 --> 00:33:10,400 So our plan is to launch in the US 658 00:33:10,480 --> 00:33:11,960 and set up a base over there 659 00:33:12,040 --> 00:33:14,720 so that we get the first mover advantage. 660 00:33:16,000 --> 00:33:17,560 Shall I show you a demo? 661 00:33:17,640 --> 00:33:19,520 - A demo will help you understand. - Please show us. 662 00:33:19,640 --> 00:33:20,760 This demo is for Hyderabad. 663 00:33:20,880 --> 00:33:23,040 - Is it a live demo? - It's a live production app. 664 00:33:23,120 --> 00:33:25,240 - Is it real? Okay. - It's real. It isn't a recording. 665 00:33:25,400 --> 00:33:28,000 - Good! - As soon as I open the app, 666 00:33:28,080 --> 00:33:30,600 I get two options, Shared Ride or Private Ride? 667 00:33:30,720 --> 00:33:32,920 Shared Ride means they must share with someone 668 00:33:33,000 --> 00:33:34,400 and they won't be dropped home. 669 00:33:34,480 --> 00:33:37,480 Private Ride means you'd ride alone and you'd be dropped off at home. 670 00:33:38,160 --> 00:33:39,920 When I chose Shared Ride in this app, 671 00:33:40,000 --> 00:33:42,080 it showed the closest pickup point 672 00:33:42,200 --> 00:33:45,840 which is a hospital called Shenoy Hospital. 673 00:33:46,800 --> 00:33:50,040 I'll choose the drop point to be Parade Ground Metro Station 674 00:33:50,160 --> 00:33:52,400 which is the closest metro station. 675 00:33:52,480 --> 00:33:55,320 As soon as I click on 'book now', 676 00:33:56,040 --> 00:33:57,960 it asks for the number of seats I want. 677 00:33:58,120 --> 00:34:01,000 We have allowed a maximum of two seats per booking. 678 00:34:01,080 --> 00:34:04,640 The cost is Rs. 16.50 but if we hire an autorickshaw, 679 00:34:04,760 --> 00:34:06,800 it costs a minimum of Rs. 100. 680 00:34:07,840 --> 00:34:09,680 We get two options after clicking 'book now'. 681 00:34:09,760 --> 00:34:13,000 I'll go for 'find me a driver' and the ride will be booked. 682 00:34:13,520 --> 00:34:16,160 As you can see, I have been assigned 683 00:34:16,240 --> 00:34:18,240 - a three-wheeler driver named Sagaya Rani. - Wow! 684 00:34:18,360 --> 00:34:19,840 She'll reach within one minute 685 00:34:19,920 --> 00:34:22,920 but normally, it's between 2 to 5 minutes on average. 686 00:34:23,040 --> 00:34:25,800 Please cancel it. She might reach there. 687 00:34:27,360 --> 00:34:29,160 - Come on! - Gosh! She came here for real. 688 00:34:29,240 --> 00:34:30,720 - She's here! - Good Lord! 689 00:34:43,040 --> 00:34:46,040 - Sagaya Rani is our driver-partner from Bengaluru. - Wow! 690 00:34:46,120 --> 00:34:47,560 How was your experience working with them? 691 00:34:52,800 --> 00:34:53,920 Come on. 692 00:35:13,320 --> 00:35:16,200 When you book a ride in Uber, you have no idea where you are going 693 00:35:16,520 --> 00:35:18,640 - but they roam within a 4 km radius when they use our app. - I got it. 694 00:35:18,720 --> 00:35:21,240 - During an emergency, one can go home. - Yes! 695 00:35:21,320 --> 00:35:22,600 Very good! 696 00:35:23,040 --> 00:35:26,000 There are so many players in the same business. 697 00:35:26,080 --> 00:35:29,720 - Bike Taxis are there. Many apps aggregate autorickshaws. - Right! 698 00:35:29,800 --> 00:35:30,720 What model do you follow? 699 00:35:30,840 --> 00:35:33,640 If you have a closer look, all these companies 700 00:35:33,720 --> 00:35:36,280 compete with public transport. 701 00:35:37,480 --> 00:35:40,560 Our business model collaborates with public transport. 702 00:35:41,560 --> 00:35:43,120 That's the reason, we already 703 00:35:43,200 --> 00:35:45,440 tied up a deal with The Hyderabad Metro. 704 00:35:45,520 --> 00:35:48,880 We signed an agreement for a joint GTM with them. 705 00:35:48,960 --> 00:35:50,280 Interesting. 706 00:36:02,320 --> 00:36:04,240 within a 3 to 4-km radius. 707 00:36:05,560 --> 00:36:08,040 I fail to understand something. We can see Bike Taxis 708 00:36:08,160 --> 00:36:10,360 - at stations nowadays. - Yes! 709 00:36:10,440 --> 00:36:12,120 We can see EVs and autorickshaws too. 710 00:36:12,200 --> 00:36:13,880 They serve within a 3 to 4-km radius. 711 00:36:13,960 --> 00:36:16,160 Are you aggregating these vehicles? Or do you use your vehicles? 712 00:36:16,240 --> 00:36:17,480 We are doing both things. 713 00:36:17,600 --> 00:36:21,560 - When we launched our model in Delhi, EVs were present there. -Yes! 714 00:36:23,120 --> 00:36:25,160 Of course, there was an availability 715 00:36:25,280 --> 00:36:27,280 but they didn't have an option so they joined us. 716 00:36:27,400 --> 00:36:30,680 When we launched in Bengaluru, there were hardly any electric vehicles. 717 00:36:31,720 --> 00:36:35,360 It took us six months to build an ecosystem in that model. 718 00:36:42,080 --> 00:36:43,480 Anybody who wants to work 719 00:36:43,560 --> 00:36:45,280 and wants to earn good money 720 00:36:45,400 --> 00:36:47,560 can come and join our platform. 721 00:36:48,120 --> 00:36:51,720 I'm not sure about a few things so I have some questions. Please clarify. 722 00:36:52,640 --> 00:36:54,680 There are two types of problems in this industry. 723 00:36:55,680 --> 00:36:57,040 Density 724 00:36:58,080 --> 00:36:59,120 And peak demand. 725 00:36:59,240 --> 00:37:01,960 When you try to add more density, 726 00:37:02,040 --> 00:37:05,200 to satisfy peak demand but the more you add, 727 00:37:05,320 --> 00:37:07,960 the driver will have lesser rides. 728 00:37:08,040 --> 00:37:09,440 On non-peak time. 729 00:37:09,560 --> 00:37:12,240 - Agreed. - But to meet the peak demand, 730 00:37:12,240 --> 00:37:13,480 when you add more vehicles, 731 00:37:13,800 --> 00:37:16,000 the problem is that the driver 732 00:37:16,000 --> 00:37:17,320 won't have business during non-peak hours. 733 00:37:17,720 --> 00:37:18,600 Correct. 734 00:37:18,720 --> 00:37:22,080 An auto driver charges 100 rupees 735 00:37:22,200 --> 00:37:23,680 to take you from the station to a location. 736 00:37:23,680 --> 00:37:24,760 That's why the charge! 737 00:37:24,840 --> 00:37:26,800 - Because he knows that... - Yes. 738 00:37:26,880 --> 00:37:29,280 - Correct. - I will have to earn the profit now 739 00:37:29,280 --> 00:37:30,600 because there won't be much business the rest of the day. 740 00:37:30,680 --> 00:37:32,600 So, how are you making money? 741 00:37:32,680 --> 00:37:34,160 We have a 12 to 4 slot. 742 00:37:34,240 --> 00:37:38,000 When the metro is not in use, our services hit a low too. 743 00:37:38,640 --> 00:37:41,320 So, we have made B2B tie-ups. 744 00:38:06,640 --> 00:38:08,800 Ultimately, asset utilisation 745 00:38:08,920 --> 00:38:11,680 - and driver income are important. - Correct. 746 00:38:11,760 --> 00:38:14,920 If it isn't utilized and the driver doesn't make an income, 747 00:38:14,920 --> 00:38:16,120 you can't make a profit. 748 00:38:16,120 --> 00:38:18,040 - The driver will quit. - Yes. 749 00:38:18,120 --> 00:38:19,680 No matter what your story is. 750 00:38:19,760 --> 00:38:23,640 But you're going to compete with Rapido, Cityflo, 751 00:38:23,720 --> 00:38:26,480 which is a point-to-point commute for corporate travellers. 752 00:38:26,560 --> 00:38:28,800 With Chalo, Ola, and Uber too. 753 00:38:29,920 --> 00:38:32,000 Anupam spoke of the scale. 754 00:38:32,120 --> 00:38:35,800 How many vehicles have you taken onboard? 755 00:38:35,880 --> 00:38:38,000 We have almost 150 vehicles on board. 756 00:38:39,040 --> 00:38:40,560 - 150 is less, right? - Yes. 757 00:38:40,640 --> 00:38:42,080 That's why the waiting time is only 2 minutes. 758 00:38:42,160 --> 00:38:44,280 [music playing] 759 00:38:44,560 --> 00:38:47,840 150 vehicles. How many rides do they make in a day? 760 00:38:53,800 --> 00:38:55,000 All of them are on-demand, sir. 761 00:38:55,120 --> 00:38:56,360 Private and shared. 762 00:39:18,480 --> 00:39:21,520 Out of 25, 15 is from ride services, 763 00:39:21,600 --> 00:39:23,200 and 10 is from B2B tie-ups. 764 00:39:23,280 --> 00:39:24,520 No. 765 00:39:24,600 --> 00:39:27,440 10 out of 15 so 67% 766 00:39:27,520 --> 00:39:30,440 is expenses. So you can say, 33%. 767 00:39:30,520 --> 00:39:31,720 You didn't get the point. 768 00:39:32,160 --> 00:39:34,080 He's simply asking you 769 00:39:34,160 --> 00:39:36,320 you earned 100 rupees for this ride. 770 00:39:36,400 --> 00:39:38,880 How much do you pay the driver and how much do you keep? 771 00:39:38,960 --> 00:39:41,600 Sir, the model is different. 772 00:39:41,760 --> 00:39:43,320 - What's the model? - MG model. 773 00:39:47,560 --> 00:39:48,800 - Salary-basis. - It's not like Uber. 774 00:39:48,880 --> 00:39:51,200 Not a salary. There's a minimum guarantee. 775 00:39:51,280 --> 00:39:53,480 And you own the lease. 776 00:39:53,560 --> 00:39:55,720 It's not on lease, sir. It's on rent. 777 00:39:56,160 --> 00:39:58,120 Is the agreement in your name or the driver? 778 00:39:58,200 --> 00:39:59,720 The rental agreement is in our name and... 779 00:39:59,800 --> 00:40:03,080 It's direct. Don't beat around the bush. 780 00:40:03,160 --> 00:40:04,920 [music playing] 781 00:40:05,560 --> 00:40:08,280 Kaaman and Girish, this is needed. 782 00:40:09,720 --> 00:40:11,480 But, I have two issues. 783 00:40:12,200 --> 00:40:15,600 Number one, a valuation of 70 crores is too high. 784 00:40:16,320 --> 00:40:19,240 My second issue is that, as we all discussed, 785 00:40:19,320 --> 00:40:22,840 for an existing player to copy this 786 00:40:22,920 --> 00:40:25,280 is not too difficult as demand increases. 787 00:40:25,360 --> 00:40:28,720 Thirdly, with 150 vehicles 788 00:40:28,920 --> 00:40:31,000 you're too early for such a high valuation. 789 00:40:31,120 --> 00:40:32,800 I will not be able to match it. 790 00:40:34,000 --> 00:40:38,000 For that reason, I'm out. But it's definitely a need. 791 00:40:38,000 --> 00:40:40,480 You used many fancy words in the beginning. 792 00:40:40,560 --> 00:40:42,240 AI-based, EV. 793 00:40:42,320 --> 00:40:45,280 How does it make a difference whether it's EV, petrol, or diesel? 794 00:40:46,000 --> 00:40:47,160 You're not making the car. 795 00:40:47,240 --> 00:40:49,280 The cost will matter. The consumer will get it at less. 796 00:40:49,360 --> 00:40:50,840 That is not the point. 797 00:40:57,920 --> 00:40:59,520 Uber tried it. Ola too. 798 00:40:59,640 --> 00:41:01,360 All the global players have tried it. 799 00:41:01,440 --> 00:41:03,760 There are so many problems like waiting time, 800 00:41:03,840 --> 00:41:06,280 finding the person. Although, you have prescheduled spots. 801 00:41:06,360 --> 00:41:09,720 If a person is delayed by two minutes, it's difficult. 802 00:41:09,840 --> 00:41:12,520 I think there is no model or business here. 803 00:41:13,680 --> 00:41:15,960 On a small scale, there are many players. 804 00:41:16,040 --> 00:41:19,680 They can take up 15-500 cars and do this business. 805 00:41:20,400 --> 00:41:22,760 Beyond that, you're going to fight with the giants. 806 00:41:22,840 --> 00:41:27,240 For that, you need millions of dollars, if not billions. 807 00:41:27,320 --> 00:41:29,080 For that reason, I'm out. Good luck! 808 00:41:29,920 --> 00:41:31,640 Uh, I'm out too. 809 00:41:32,480 --> 00:41:34,600 But, I think you're smart. 810 00:41:40,560 --> 00:41:43,280 Get that going, rather than other revenue models. 811 00:41:43,520 --> 00:41:44,680 Put them behind. 812 00:41:45,840 --> 00:41:47,920 And focus on this. All the best! 813 00:41:48,000 --> 00:41:49,480 [music playing] 814 00:42:07,360 --> 00:42:10,000 there are local-level financers. 815 00:42:10,080 --> 00:42:11,200 They receive daily payments. 816 00:42:11,280 --> 00:42:13,280 The driver earns and pays him every day. 817 00:42:13,360 --> 00:42:14,920 The lender is lending the vehicle 818 00:42:15,000 --> 00:42:18,400 - but we can take it from anyone. - Will he scale it up? 819 00:42:18,480 --> 00:42:19,880 No OEM would do that. 820 00:42:19,960 --> 00:42:21,120 - In fact... - Understand the problem. 821 00:42:21,200 --> 00:42:22,320 Have you decided? 822 00:42:22,400 --> 00:42:26,720 I'm trying to explain how the model should've been. 823 00:42:26,840 --> 00:42:28,080 And he's telling me that's how the model should be. 824 00:42:28,080 --> 00:42:28,520 No. 825 00:42:28,600 --> 00:42:30,400 - I will believe that... - You're right. 826 00:42:30,920 --> 00:42:32,120 So, you... 827 00:42:32,920 --> 00:42:35,480 [laughs] No, you're right. 828 00:42:36,840 --> 00:42:37,680 So, coming back... 829 00:42:37,760 --> 00:42:41,200 This is called reverse shark tank. Will you invest in him? 830 00:42:42,080 --> 00:42:44,760 - It's their pitch. Right? - What do you mean? 831 00:42:44,960 --> 00:42:47,800 - Have you decided yet? - Nothing. 832 00:42:47,880 --> 00:42:50,480 I think you guys are trying to influence the decision. 833 00:42:51,760 --> 00:42:53,320 I'm trying to teach them something here. 834 00:42:53,400 --> 00:42:55,640 - Okay, share your decision. - Yes, please do. 835 00:42:55,720 --> 00:42:56,920 I am not taking a decision right now. 836 00:42:56,920 --> 00:42:58,800 I was suggesting how the model should be. 837 00:43:00,040 --> 00:43:01,040 Is that okay? 838 00:43:01,120 --> 00:43:02,720 [music playing] 839 00:43:03,520 --> 00:43:05,160 I have an understanding of this space. 840 00:43:05,240 --> 00:43:06,840 - Okay. - Thanks. 841 00:43:07,520 --> 00:43:08,640 Please tell them. They're waiting. 842 00:43:08,720 --> 00:43:10,280 [music playing] 843 00:43:11,760 --> 00:43:14,440 So, coming back, if they allow me to explain. 844 00:43:14,520 --> 00:43:16,760 [music playing] 845 00:43:17,040 --> 00:43:19,200 I don't understand the yield of your asset. 846 00:43:19,320 --> 00:43:22,960 That's my problem and I don't have time to understand more. 847 00:43:25,320 --> 00:43:28,320 I would like to meet you in person to understand this. 848 00:43:30,000 --> 00:43:31,360 I'm out now. 849 00:43:31,440 --> 00:43:33,920 Given the time constraint, but I want to meet you later. 850 00:43:34,920 --> 00:43:37,040 Look, I was interested 851 00:43:37,120 --> 00:43:39,040 but the valuation doesn't fit me well. 852 00:43:42,680 --> 00:43:43,720 Oh! 853 00:43:44,520 --> 00:43:48,080 But become successful in a city first. 854 00:43:48,160 --> 00:43:50,680 You have already planned about the US. 855 00:43:51,680 --> 00:43:53,600 So, you're not fully into this business. 856 00:43:54,600 --> 00:43:56,160 But you're doing a good job 857 00:43:56,280 --> 00:43:59,120 and I'm impressed with your user interface, it's in-depth. 858 00:43:59,200 --> 00:44:01,080 It's nice but we don't have much time. 859 00:44:01,160 --> 00:44:04,320 It's one of those things that I may regret later. Best of luck! 860 00:44:05,200 --> 00:44:07,120 Kaaman and Girish, thank you so much. 861 00:44:07,240 --> 00:44:08,360 See you! Bye! 862 00:44:08,760 --> 00:44:11,200 [music playing] 863 00:44:58,040 --> 00:45:00,160 [music playing] 864 00:45:05,280 --> 00:45:07,760 [music playing] 865 00:45:18,560 --> 00:45:21,720 2/3rd of a shark's brain 866 00:45:21,800 --> 00:45:24,400 is used to detect odour. 867 00:45:24,480 --> 00:45:25,840 And this skill 868 00:45:25,960 --> 00:45:27,680 allows them to rule over the sea. 869 00:45:27,760 --> 00:45:29,160 [laughs] 870 00:45:30,240 --> 00:45:31,320 Not because 871 00:45:31,400 --> 00:45:34,040 humans have certified it. 872 00:45:34,120 --> 00:45:36,280 Greetings, Sharks! I'm Arvind Arora. 873 00:45:37,520 --> 00:45:40,640 And I'm here from Bengaluru to represent my skill-based startup 874 00:45:40,640 --> 00:45:43,240 Conker App in front of you all. 875 00:45:44,280 --> 00:45:47,120 My professional career started as an offline teacher 876 00:45:47,240 --> 00:45:49,720 and then I started teaching chemistry online. 877 00:45:49,840 --> 00:45:53,000 I worked with ed-tech companies and watched them grow into unicorns. 878 00:45:53,120 --> 00:45:54,320 [music playing] 879 00:46:30,840 --> 00:46:33,800 Our youth says that there are no jobs. 880 00:46:33,920 --> 00:46:36,040 Whereas, industries say that jobs are available. 881 00:46:36,120 --> 00:46:38,280 But we don't have skilful youth. 882 00:46:39,320 --> 00:46:41,120 And Conker App is the solution. 883 00:46:41,200 --> 00:46:42,840 [music playing] 884 00:46:45,960 --> 00:46:47,480 Through experts 885 00:46:47,560 --> 00:46:50,000 we offer skill-based courses. 886 00:46:50,760 --> 00:46:52,960 We also offer jobs and opportunities. 887 00:46:53,040 --> 00:46:55,240 For this, a student has to simply 888 00:46:55,320 --> 00:46:57,040 download Conker App 889 00:46:57,120 --> 00:47:00,600 and after that, select a course based on their skill set. 890 00:47:00,720 --> 00:47:02,440 After completing the course, 891 00:47:02,560 --> 00:47:05,400 they have to submit their resume. 892 00:47:06,480 --> 00:47:09,320 In the last six months, Conker App 893 00:47:26,800 --> 00:47:28,880 Conker App must be the top of the mind recall. 894 00:47:29,840 --> 00:47:32,280 I'm asking for nothing. 895 00:47:32,400 --> 00:47:34,960 I want all of you to support me. 896 00:47:52,320 --> 00:47:53,360 I'm in. 897 00:47:53,440 --> 00:47:54,680 Thank you so much, sir. 898 00:47:54,800 --> 00:47:56,400 - Closed? - Yes. 899 00:47:56,520 --> 00:47:58,040 Okay, I'm done. 900 00:48:00,280 --> 00:48:03,000 What is your ask, Arvind? Please specify it. 901 00:48:04,120 --> 00:48:05,440 My first offer is that 902 00:48:05,520 --> 00:48:08,480 I will accept even a rupee 903 00:48:08,560 --> 00:48:11,880 and I would like to offer you 0.1% equity in exchange. 904 00:48:12,720 --> 00:48:14,520 The second offer is that 905 00:48:14,640 --> 00:48:17,000 if all of you participate 906 00:48:17,120 --> 00:48:18,840 then whatever you invest 907 00:48:18,920 --> 00:48:20,280 I will offer you double the equity 908 00:48:20,360 --> 00:48:22,680 and dilute it at the current valuation. 909 00:48:22,800 --> 00:48:24,640 Because we know your importance. 910 00:48:24,720 --> 00:48:26,240 Don't beat around the bush. 911 00:48:27,440 --> 00:48:28,200 Yes. 912 00:48:28,280 --> 00:48:30,640 Current valuation, double, single, don't say all this. 913 00:48:30,720 --> 00:48:32,840 - Please tell us how much you need. - Okay. 914 00:48:32,920 --> 00:48:36,000 - I want Rs. 40 lakhs for 1% equity. - Rs. 40 lakhs for 1% equity. 915 00:48:36,080 --> 00:48:39,800 Yes, but in case we get Rs. 40 lakhs for 1% equity, 916 00:48:39,880 --> 00:48:41,680 we want to dilute 2% only. 917 00:48:41,760 --> 00:48:44,200 What do you mean? I don't understand. 918 00:48:44,280 --> 00:48:46,400 [dramatic music] 919 00:48:46,560 --> 00:48:48,960 I have made my decision and I'm out. 920 00:48:49,040 --> 00:48:50,280 I'm sorry! 921 00:48:50,360 --> 00:48:52,560 You aren't able to share your requirement. 922 00:48:53,960 --> 00:48:55,240 What do you want, my friend? 923 00:48:55,360 --> 00:48:59,160 Actually, we raised pre-seed funding at Rs. 20 crore valuation. 924 00:49:02,840 --> 00:49:05,920 - We opened a second round too at Rs. 40 crores. - Okay. 925 00:49:06,000 --> 00:49:08,880 The founder of Zerodha, Nikhil Kamath 926 00:49:08,960 --> 00:49:10,200 invested in our business. 927 00:49:10,320 --> 00:49:12,400 What's the total round you raised in those Rs. 40 crores? 928 00:49:12,480 --> 00:49:14,040 We'll dilute 10% equity. 929 00:49:14,120 --> 00:49:15,920 - So you are getting Rs. 4 crores. - Yes. 930 00:49:16,000 --> 00:49:17,040 How much money has been committed by now? 931 00:49:17,120 --> 00:49:19,600 Sir, we have a commitment of Rs. 1.5 crores. 932 00:49:20,240 --> 00:49:22,200 That's the reason, I requested 933 00:49:22,320 --> 00:49:24,360 Rs. 40 lakhs for 1% equity 934 00:49:24,480 --> 00:49:27,400 but as we value you, so we want 935 00:49:34,240 --> 00:49:37,760 You raised an important issue of skills. 936 00:49:44,320 --> 00:49:48,200 We don't want to take the route of traditional exams. 937 00:49:48,320 --> 00:49:50,720 We offer a YouTube course for mastery. 938 00:49:50,800 --> 00:49:52,400 We offer mastery courses on How to Teach Online, 939 00:49:52,480 --> 00:49:55,680 Facebook, LinkedIn 940 00:49:56,320 --> 00:49:57,520 and many such courses. 941 00:49:57,600 --> 00:49:59,400 Let me brief you about a special course. 942 00:49:59,480 --> 00:50:00,920 We have elders at home 943 00:50:01,000 --> 00:50:03,440 like my dad who can't operate a smartphone. 944 00:50:03,520 --> 00:50:05,000 We designed a course 945 00:50:05,080 --> 00:50:08,280 in which 17-18 years old adolescents 946 00:50:08,360 --> 00:50:09,560 teach people how to use a smartphone. 947 00:50:09,640 --> 00:50:12,160 As you told us about your business, please share your sales figures too. 948 00:50:12,240 --> 00:50:14,880 What was your revenue last month? And what was your profit? 949 00:50:38,400 --> 00:50:40,400 I liked your cause. 950 00:50:41,160 --> 00:50:43,840 - We run a company called CollegeDekho. - Okay. 951 00:50:43,920 --> 00:50:47,440 I have a personal interest in education technology. 952 00:50:47,560 --> 00:50:49,680 So I want to know what excites you. 953 00:50:49,760 --> 00:50:51,840 Your ambition... What makes you happy? 954 00:50:53,200 --> 00:50:55,400 Today's youth want 955 00:50:55,520 --> 00:50:59,680 to grow on Instagram, Facebook and YouTube and earn money. 956 00:51:00,800 --> 00:51:02,720 Sir, as a YouTuber, 957 00:51:02,800 --> 00:51:04,680 the earnings on YouTube 958 00:51:04,760 --> 00:51:07,160 start from Rs. 3 lakhs 959 00:51:07,240 --> 00:51:09,800 and one can earn up to 1 to 2 crore rupees. 960 00:51:09,880 --> 00:51:11,800 My friend, even you don't earn that much. 961 00:51:11,920 --> 00:51:14,880 Sir, I earn that amount as I'm a YouTuber. 962 00:51:14,960 --> 00:51:16,080 What's the name of your channel? 963 00:51:16,160 --> 00:51:18,280 Sir, A2 Motivation channel with 14 million subscribers. 964 00:51:18,360 --> 00:51:21,520 Your revenue is less as it's just Rs. 1.2 crores in six months. 965 00:51:22,920 --> 00:51:25,560 Sir, Conker is different from A2 Motivation. 966 00:51:25,640 --> 00:51:26,960 - So they are different. - A2 Motivation is my personal channel 967 00:51:27,040 --> 00:51:30,680 where I use the network to sell our courses. It's our USP. 968 00:51:30,760 --> 00:51:33,160 It's like running two businesses simultaneously. 969 00:51:33,640 --> 00:51:34,760 How will it work? 970 00:51:34,880 --> 00:51:37,560 - Sir, the thing is... - Hold on! First, clarify this. 971 00:51:37,640 --> 00:51:39,720 How much do you earn through A2 Motivation per month? 972 00:51:39,800 --> 00:51:41,360 It depends. 973 00:51:41,440 --> 00:51:43,600 You may share the average figure. 974 00:51:51,280 --> 00:51:52,440 Yes, of course! 975 00:51:53,360 --> 00:51:56,080 What is the content you use for 14 million subscribers? 976 00:51:56,200 --> 00:51:58,640 Sir, I make motivational and fact videos. 977 00:51:58,720 --> 00:52:00,720 - Please show us a demo. - Okay. 978 00:52:12,480 --> 00:52:16,080 Did you earn subscribers through marketing or organically? 979 00:52:16,200 --> 00:52:17,280 Sir, organically. 980 00:52:17,360 --> 00:52:21,000 - So you are an established influencer and creator. - Yes. 981 00:52:21,880 --> 00:52:23,600 - Please show us a demo. - Sure. 982 00:52:23,680 --> 00:52:25,280 [sweeping music] 983 00:52:25,360 --> 00:52:27,880 - Is it free content or paid? - It's paid content. 984 00:52:30,120 --> 00:52:31,320 Please show us the content. 985 00:52:31,400 --> 00:52:33,280 Sir, we gave a mastery course for making reels. 986 00:52:33,360 --> 00:52:36,640 'It's recorded between 3 seconds to 90 seconds. Okay?' 987 00:52:36,720 --> 00:52:40,600 'When I make skit reels, ' 988 00:52:40,680 --> 00:52:44,120 'I shoot those reels for around 40 to 60 seconds.' 989 00:52:44,200 --> 00:52:45,640 Such content is free. 990 00:53:17,480 --> 00:53:18,680 Ouch! 991 00:53:20,840 --> 00:53:23,480 Too many things! 992 00:53:23,800 --> 00:53:26,600 Arvind, when we join a business as investors, 993 00:53:26,680 --> 00:53:30,400 we look for a focused founder. 994 00:53:31,360 --> 00:53:34,080 Even if you merge both companies, 995 00:53:34,160 --> 00:53:36,040 they are characteristically different. 996 00:53:37,320 --> 00:53:39,200 So I don't have the confidence 997 00:53:39,320 --> 00:53:42,440 that you'd be able to handle both and for that reason, I'm out. 998 00:53:44,080 --> 00:53:46,560 - This space is too crowded. - That's right. 999 00:53:46,640 --> 00:53:49,400 How do you plan to become number one? 1000 00:53:49,520 --> 00:53:53,560 Sir, we'll focus specifically on tier-2, tier-3 and tier-4 cities. 1001 00:53:54,760 --> 00:53:57,640 Secondly, we plan to make content in regional languages too. 1002 00:53:57,760 --> 00:54:00,720 The big players make their content mostly in English. 1003 00:54:00,840 --> 00:54:02,880 Many apps like Seekho 1004 00:54:02,960 --> 00:54:05,040 - make content in vernacular languages. - Okay. 1005 00:54:05,560 --> 00:54:08,720 - Do you know about Seekho? - No, sir. I heard it only now. 1006 00:54:08,800 --> 00:54:10,040 - You don't? - No, sir. 1007 00:54:11,760 --> 00:54:14,520 How many active users do you have daily and monthly? 1008 00:54:14,640 --> 00:54:16,520 Our daily active users are 6,000 1009 00:54:23,600 --> 00:54:26,760 what is the lowest DAU/MAU ratio? 1010 00:54:26,960 --> 00:54:28,520 - Um... - 3%. 1011 00:54:29,160 --> 00:54:31,040 If it's around 3%, 1012 00:54:31,120 --> 00:54:33,600 there can't be a worse DAU/MAU ratio. 1013 00:54:33,680 --> 00:54:36,040 It's the ratio between daily active users and monthly active users. 1014 00:54:36,120 --> 00:54:39,000 - And your figure is around 3%. - Yes. 1015 00:54:39,760 --> 00:54:41,680 It means your product isn't working. 1016 00:54:41,800 --> 00:54:43,880 There's no engagement in this product. 1017 00:54:44,920 --> 00:54:46,600 What is your cost 1018 00:54:46,680 --> 00:54:49,480 of customer acquisition for a paid customer? 1019 00:54:49,560 --> 00:54:50,840 Sir, 22%. 1020 00:54:50,960 --> 00:54:53,360 Again... Please don't mislead me. 1021 00:54:54,880 --> 00:54:58,320 Please tell me the exact cost in rupees. 1022 00:54:58,400 --> 00:54:59,520 Sir, I need to check the data. 1023 00:54:59,600 --> 00:55:01,680 You don't know the data! Then how will you run the business? 1024 00:55:01,760 --> 00:55:03,360 [tense music] 1025 00:55:03,880 --> 00:55:06,360 I think you aped the teachers who made successful companies 1026 00:55:06,440 --> 00:55:09,640 and you entered this business blindly. 1027 00:55:10,560 --> 00:55:12,000 I don't think you should do that. 1028 00:55:12,080 --> 00:55:14,120 EdTech isn't growing much. 1029 00:55:14,240 --> 00:55:16,920 I think you are an amazing influencer and creator. 1030 00:55:17,000 --> 00:55:20,120 Please continue your work. Good luck to you. All the best. 1031 00:55:20,200 --> 00:55:21,240 Thank you so much. 1032 00:55:22,080 --> 00:55:23,760 It was nice meeting you. 1033 00:55:24,320 --> 00:55:27,680 The figures you shared are unbelievable 1034 00:55:27,760 --> 00:55:30,160 because maybe you don't know them or you're confused. 1035 00:55:30,240 --> 00:55:32,480 But let me tell you because of the sales figures you shared 1036 00:55:32,560 --> 00:55:35,800 with me, I want to be out. 1037 00:55:36,560 --> 00:55:39,200 The reason you grew on YouTube is... 1038 00:55:40,040 --> 00:55:43,520 When I asked you to give a demo of your class, 1039 00:55:43,600 --> 00:55:45,680 you looked original. 1040 00:55:46,920 --> 00:55:50,200 But when you pitched to us, you lost the originality. 1041 00:55:51,760 --> 00:55:54,520 Post Covid, people discontinued online classes. 1042 00:55:54,600 --> 00:55:55,720 So the future is uncertain. 1043 00:55:55,800 --> 00:55:58,720 We need to be careful about the goings on in this industry. 1044 00:55:59,800 --> 00:56:02,640 - Thank you! All five Sharks are out. All the best. - Thank you! 1045 00:56:02,720 --> 00:56:04,520 [epic music]