1 00:00:10,120 --> 00:00:11,800 [music playing] 2 00:00:26,440 --> 00:00:28,440 [music playing] 3 00:00:35,000 --> 00:00:37,360 [music playing] 4 00:01:07,880 --> 00:01:09,120 - Hi, Sharks. - Hello. 5 00:01:15,240 --> 00:01:17,920 As an actor, I have always dreamt 6 00:01:18,000 --> 00:01:22,360 of draping a sari on a snow-clad mountain and swaying my long tresses. 7 00:01:23,000 --> 00:01:24,880 But my hair never grew so long. 8 00:01:25,000 --> 00:01:28,160 This is not my real hair. This is Nish Hair, by the way. 9 00:01:28,240 --> 00:01:29,800 Oh, wow! 10 00:01:29,920 --> 00:01:31,160 Yeah. 11 00:01:31,760 --> 00:01:33,400 Oh, wow! 12 00:01:33,480 --> 00:01:35,280 - Cool. - Right? 13 00:01:35,360 --> 00:01:37,800 So, I used to go to wig makers 14 00:01:37,880 --> 00:01:41,240 and they would give me heavy and expensive hair extensions. 15 00:01:41,360 --> 00:01:44,120 It was difficult to sway them. 16 00:01:44,200 --> 00:01:45,920 So, I created hair extensions 17 00:01:46,000 --> 00:01:50,120 for girls like me who have less hair and money. 18 00:01:50,880 --> 00:01:52,760 That's when Nish Hair was born. 19 00:01:53,920 --> 00:01:56,520 [music playing] 20 00:02:04,120 --> 00:02:05,280 Along with my mom. 21 00:02:06,240 --> 00:02:09,280 You heard my problem. What is India's population? 22 00:02:09,360 --> 00:02:12,880 There are 66 crore women. 23 00:02:12,960 --> 00:02:15,960 60% of them have a hair loss problem. 24 00:02:16,680 --> 00:02:20,480 When a woman gives birth, she goes through so much. 25 00:02:20,560 --> 00:02:22,600 Their postpartum hair loss 26 00:02:22,680 --> 00:02:24,440 which new mothers would know what I'm talking about. 27 00:02:24,520 --> 00:02:27,000 For them, I've made a hair topper 28 00:02:34,720 --> 00:02:37,360 - Gift that keeps on living. - Wow! 29 00:02:38,560 --> 00:02:41,720 - It resembles the human scalp. - Oh, wow! 30 00:02:49,560 --> 00:02:52,120 Look, I have genes from my mom and dad as well. 31 00:02:52,240 --> 00:02:53,800 - Oh! - Well. 32 00:03:10,800 --> 00:03:12,840 They want bangs, colour strands, 33 00:03:30,080 --> 00:03:32,120 First time on Shark Tank. 34 00:03:32,200 --> 00:03:34,480 I'm pitching my business to anybody for the first time. 35 00:03:34,560 --> 00:03:36,280 - Oh, wow! - It's a self-made business. 36 00:03:49,960 --> 00:03:52,120 Well said! But we'll prefer some sugar-coating. 37 00:03:53,240 --> 00:03:55,400 Parul, welcome to the finale of Shark Tank season 2. 38 00:03:55,480 --> 00:03:56,440 Thank you, Aman. 39 00:03:56,520 --> 00:04:00,800 Firstly, tell me how the name came up? 40 00:04:00,880 --> 00:04:02,920 Is there a connection between your names or is it general? 41 00:04:03,000 --> 00:04:06,240 My mother calls me Nishu. So, she named it Nish. 42 00:04:06,320 --> 00:04:09,720 Because Hair Extensions by Parul Gulati sounds blah. 43 00:04:09,800 --> 00:04:11,760 [laughs] 44 00:04:11,840 --> 00:04:14,080 You said that you're 45 00:04:14,160 --> 00:04:15,800 a former model or actor, right? 46 00:04:15,880 --> 00:04:17,520 I'm still an actor. 47 00:04:17,600 --> 00:04:19,920 - Oh, nice! - I do web shows. 48 00:04:20,000 --> 00:04:21,600 I've done Punjabi films. 49 00:04:21,680 --> 00:04:23,640 - Girls Hostel is one of the SonyLIV shows. - Oh, wow! 50 00:04:23,720 --> 00:04:25,000 Nice. 51 00:04:25,080 --> 00:04:27,040 Wow, lovely! 52 00:04:27,160 --> 00:04:29,520 - So, you do this as well. - Yes. 53 00:04:29,600 --> 00:04:31,960 And is this a full-time business? 54 00:04:32,080 --> 00:04:32,920 - Yes. - Or is it just part-time? 55 00:04:33,000 --> 00:04:34,400 No, it's a full-time business. 56 00:04:34,480 --> 00:04:36,560 - And acting? - It's full-time too. 57 00:04:37,560 --> 00:04:39,520 [laughs] 58 00:04:39,640 --> 00:04:41,920 How can you do two things full-time? 59 00:04:42,000 --> 00:04:44,000 When you're a mother and you're married, 60 00:04:44,240 --> 00:04:47,680 I'm married to my acting career and this is my baby. 61 00:04:47,760 --> 00:04:49,640 How can I decide which one to choose? 62 00:04:49,720 --> 00:04:51,720 - Good answer. - Right? 63 00:04:54,680 --> 00:04:56,400 I'm from Rohtak, Haryana. 64 00:04:56,600 --> 00:04:58,160 Where did you study? 65 00:04:58,240 --> 00:04:59,280 I studied in Rohtak. 66 00:04:59,360 --> 00:05:01,560 And pursued distance education from the University of Mumbai. 67 00:05:01,640 --> 00:05:03,480 I have not studied business. 68 00:05:03,560 --> 00:05:06,440 - When did you shift to Mumbai? - In 2010. 69 00:05:06,520 --> 00:05:08,200 - For acting? - Yes. 70 00:05:14,240 --> 00:05:16,360 There was an unhappy phase in my life. 71 00:05:16,480 --> 00:05:18,440 I wasn't able to find work. 72 00:05:18,520 --> 00:05:21,560 So, I chopped off my hair at home. 73 00:05:22,600 --> 00:05:25,360 I needed extensions for a shoot 74 00:05:25,440 --> 00:05:29,720 and I told the production house to pay for it but they refused. 75 00:05:31,120 --> 00:05:34,720 I decided that one day... Not really! I got an idea. 76 00:05:34,800 --> 00:05:36,760 [laughs] 77 00:05:37,400 --> 00:05:39,920 Well played! Which year was this? 78 00:05:40,000 --> 00:05:42,680 I got the idea in 2016. 79 00:05:42,800 --> 00:05:44,000 When did you launch it? 80 00:05:53,400 --> 00:05:56,680 When I started, my career was going down. 81 00:05:58,360 --> 00:06:00,960 When it started going up, the business was going up too 82 00:06:01,040 --> 00:06:02,880 so in 2019, 83 00:06:02,960 --> 00:06:05,760 my business started performing. 84 00:06:05,880 --> 00:06:09,080 I was working on six web shows that year. 85 00:06:10,440 --> 00:06:12,680 And my web shows were released in lockdown. 86 00:06:12,800 --> 00:06:16,280 I was at home during the lockdown. Everybody became an influencer. 87 00:06:16,360 --> 00:06:18,880 I became one too on my social media handle. 88 00:06:18,960 --> 00:06:21,120 And I reached out to people through my videos. 89 00:06:21,240 --> 00:06:24,240 Then after the lockdown, 90 00:06:24,360 --> 00:06:28,120 I'm still equally invested in my business 91 00:06:28,360 --> 00:06:29,640 and it is my baby. 92 00:06:34,440 --> 00:06:36,720 How are you different? 93 00:06:36,800 --> 00:06:39,920 My products sell the most. 94 00:06:40,000 --> 00:06:41,920 Hair toppers 95 00:06:42,440 --> 00:06:45,600 are not common. Only 2-3 companies are into it. 96 00:06:45,680 --> 00:06:48,000 Namita, Vineeta, I want to ask you something. 97 00:06:48,080 --> 00:06:50,760 Do you need it? 98 00:06:50,880 --> 00:06:52,480 I use hair extensions. 99 00:06:57,960 --> 00:07:02,080 Now, it's common and used as a fashion element. 100 00:07:03,120 --> 00:07:04,640 Do you know any brands? 101 00:07:04,720 --> 00:07:06,640 I have a brand. 102 00:07:06,720 --> 00:07:09,240 I invested in it in Season 1. HairOriginals. 103 00:07:09,320 --> 00:07:11,000 How is it doing? 104 00:07:11,360 --> 00:07:13,200 You will tell us. 105 00:07:13,280 --> 00:07:15,280 I think they spend a lot on marketing. 106 00:07:15,360 --> 00:07:17,560 I've never spent on marketing. 107 00:07:17,720 --> 00:07:20,960 And despite being with you, they haven't cracked the D2C market. 108 00:07:22,280 --> 00:07:23,840 I'm just saying that 109 00:07:23,920 --> 00:07:27,280 if you search the D2C market, my product 110 00:07:27,360 --> 00:07:29,040 is the most popular online. 111 00:07:29,120 --> 00:07:32,720 Offline, I haven't tapped the market much. 112 00:07:33,520 --> 00:07:34,680 What's the market size? 113 00:07:34,800 --> 00:07:36,200 It's a multi-billion dollar industry. 114 00:07:36,280 --> 00:07:38,520 - How big is the industry? - Across the globe. 115 00:07:38,640 --> 00:07:41,480 - How big is it in India? - I didn't look up the numbers. 116 00:07:46,400 --> 00:07:48,920 - Yes. - I expect you to do basic research. 117 00:07:49,000 --> 00:07:50,120 I'm so sorry. 118 00:07:51,400 --> 00:07:53,960 Okay, tell me your numbers. You must know that. 119 00:07:54,040 --> 00:07:55,760 Yes, I know that. 120 00:08:11,040 --> 00:08:12,520 FY 21-22? 121 00:08:12,600 --> 00:08:14,080 It was 6.7 crores. 122 00:08:14,440 --> 00:08:18,680 - You filed for 6.7 crores as net revenue. - Yes. 123 00:08:18,840 --> 00:08:20,240 And what's the profit of that? 124 00:08:28,560 --> 00:08:29,960 What's the projected revenue for this year? 125 00:08:36,720 --> 00:08:39,000 because I have a larger inventory now. 126 00:08:39,080 --> 00:08:40,000 I have more products. 127 00:08:40,080 --> 00:08:42,920 So, you will make 5 crores this year in the hair business. 128 00:08:43,040 --> 00:08:43,560 Yes. 129 00:08:43,640 --> 00:08:45,360 Then come and sit here. I'll go there. 130 00:08:45,440 --> 00:08:48,040 No, don't say that, sir. 131 00:08:49,760 --> 00:08:52,560 - But, incredible! - Yes, amazing! 132 00:08:53,760 --> 00:08:55,040 - You know, incredible! - Very good! 133 00:08:55,120 --> 00:08:56,520 - You deserve applause. - Great job! 134 00:08:56,640 --> 00:08:59,320 For building a 5-crore profitable business. 135 00:09:00,080 --> 00:09:02,880 The numbers tell me that your execution skills are great. 136 00:09:02,960 --> 00:09:07,200 But without marketing, how did you build a 15-crore business? 137 00:09:07,280 --> 00:09:09,080 My product is very good. 138 00:09:09,160 --> 00:09:11,840 - It's an instant problem-solver. - So it's by word of mouth? 139 00:09:11,920 --> 00:09:13,360 Word of mouth is first. 140 00:09:13,440 --> 00:09:16,800 Then, I used to use it in my videos on Instagram. 141 00:09:16,880 --> 00:09:18,920 So, Instagram is your main source. 142 00:09:19,000 --> 00:09:20,200 - Yes. - How many followers do you have? 143 00:09:36,640 --> 00:09:39,280 - Nice. - You make the reels. 144 00:09:39,360 --> 00:09:41,240 Yes, I'm in every video. 145 00:09:41,320 --> 00:09:43,800 [laughs] 146 00:09:44,800 --> 00:09:46,040 - Good! - Lovely! 147 00:09:47,880 --> 00:09:49,800 What have you done that 148 00:09:49,880 --> 00:09:52,880 draws such engagement and high sales? 149 00:09:52,960 --> 00:09:54,800 As Vineeta said, 150 00:09:54,880 --> 00:09:57,760 earlier people didn't know. I do take pride in that. 151 00:09:57,880 --> 00:10:01,960 In every video, I demonstrated how to use the product 152 00:10:02,040 --> 00:10:04,200 and how to sew it in case of a breakage. 153 00:10:04,320 --> 00:10:05,560 Washing and care instructions. 154 00:10:05,640 --> 00:10:09,400 In any other video, nobody speaks. 155 00:10:09,680 --> 00:10:12,560 I'm comfortable speaking so I explain the product. 156 00:10:12,640 --> 00:10:13,720 Use it like this, 157 00:10:13,800 --> 00:10:15,720 and it can be styled 158 00:10:15,800 --> 00:10:18,960 and how to change it. 159 00:10:19,040 --> 00:10:21,800 What's the channel of your sales? Where are you selling? 160 00:10:35,000 --> 00:10:37,720 My offline sales are Rs. 8 lakhs which I didn't mention. I'm sorry. 161 00:10:37,800 --> 00:10:39,240 You are a boss. 162 00:10:39,320 --> 00:10:40,960 You aren't just the owner but beyond that. 163 00:10:41,040 --> 00:10:42,120 [laughing] 164 00:10:42,200 --> 00:10:43,920 What's your cost for marketing? 165 00:10:44,000 --> 00:10:48,560 I spend Rs. 1.3 lakhs per month on marketing. 166 00:10:53,360 --> 00:10:54,840 You are saying repeatedly 167 00:10:55,240 --> 00:10:58,520 - that you don't do marketing. - Yes. 168 00:10:58,800 --> 00:11:00,080 I disagree with you. 169 00:11:00,200 --> 00:11:02,160 [sombre music] 170 00:11:02,240 --> 00:11:03,560 Since you came here, 171 00:11:03,640 --> 00:11:07,200 you said www.nishhair.com 3 to 4 times at least. 172 00:11:08,440 --> 00:11:12,680 And you have used your presence as an actor on Instagram 173 00:11:13,120 --> 00:11:16,000 as a marketing tool to drive Nish Hair. Congratulations! 174 00:11:16,080 --> 00:11:18,760 - Fantastic marketing instinct! - Thank you for saying that. 175 00:11:18,880 --> 00:11:19,880 Can we see the samples? 176 00:11:19,960 --> 00:11:21,160 Yes, please! 177 00:11:23,960 --> 00:11:26,640 [inspirational music] 178 00:11:26,720 --> 00:11:29,880 Ma'am... Yes, that's a Hair Topper. 179 00:11:29,960 --> 00:11:33,040 You can look at it. Anything. 180 00:11:33,160 --> 00:11:34,720 You can check the big box. 181 00:11:34,920 --> 00:11:36,400 Absolutely! 182 00:11:36,720 --> 00:11:38,560 Thank you, Parul. 183 00:11:38,640 --> 00:11:40,160 Do we fix it like this? 184 00:11:40,240 --> 00:11:42,800 - Oh! Very nice. - Easy, right? Easy to put. 185 00:11:42,880 --> 00:11:45,160 I want you to fix it to Anupam's hair. 186 00:11:46,200 --> 00:11:49,240 - Hold on, please. It won't mess up your hair spray. - Please, Anupam! 187 00:11:49,320 --> 00:11:50,800 I'll fix it on the top. 188 00:11:51,960 --> 00:11:54,640 You have turned me into a joker. 189 00:11:54,760 --> 00:11:56,320 You look super cool. 190 00:11:56,440 --> 00:11:59,360 Please remove it. People will make fun of me. 191 00:12:02,240 --> 00:12:03,400 Can I try the fringe? 192 00:12:03,520 --> 00:12:04,880 Ma'am, I'll transform you first. 193 00:12:04,960 --> 00:12:06,240 Oh, so you are going to transform me. 194 00:12:06,320 --> 00:12:07,920 Oh! 195 00:12:11,160 --> 00:12:15,720 Okay. She fixed highlights to my hair. 196 00:12:18,680 --> 00:12:21,480 [funky music] 197 00:12:21,600 --> 00:12:22,760 Hi! 198 00:12:25,080 --> 00:12:28,760 - It's awesome, by the way. It's so easy to fix. - It's so easy! 199 00:12:28,880 --> 00:12:29,800 Yes. 200 00:12:29,880 --> 00:12:32,200 Thank you! Thank you for getting me the red one. 201 00:12:33,520 --> 00:12:35,560 You fixed this hair extension to Vineeta's hair. 202 00:12:35,640 --> 00:12:39,600 If she buys this hair extension, how much will it cost? 203 00:12:51,880 --> 00:12:54,640 So your average ticket size is around 1,300 to 1,500 rupees. 204 00:12:54,720 --> 00:12:57,440 No. The average customer spend is Rs. 5,000. 205 00:13:06,960 --> 00:13:09,880 - Oh my God! Please show it. - One crore! 206 00:13:09,960 --> 00:13:12,040 - Only this product! - Only this product? 207 00:13:15,080 --> 00:13:16,040 How much does it cost? 208 00:13:16,160 --> 00:13:17,400 From this year onwards, it costs Rs. 12,000. 209 00:13:26,400 --> 00:13:29,800 and it's made on a silk base. It is expensive and it's hand-woven. 210 00:13:30,000 --> 00:13:31,440 What is the making cost? 211 00:13:39,920 --> 00:13:42,640 I want to grow this business to be a Rs. 100 crore business. 212 00:13:42,760 --> 00:13:46,320 I think this room is big enough to accommodate another chair for me. 213 00:13:49,800 --> 00:13:53,080 What problems did you face while doing this business? 214 00:13:53,800 --> 00:13:56,720 I think I can have a better team. 215 00:13:56,800 --> 00:13:58,600 Let me request people on national television to apply at my company. 216 00:13:58,680 --> 00:14:01,880 My team consists of 16 members. 217 00:14:01,960 --> 00:14:03,880 And we are operating 218 00:14:03,960 --> 00:14:07,080 from a small home office. 219 00:14:07,280 --> 00:14:10,720 I face difficulty in finding the right people to grow with. 220 00:14:10,800 --> 00:14:13,480 I think I'm lacking more brains right now. 221 00:14:14,880 --> 00:14:17,720 Parul, you are an incredible entrepreneur. 222 00:14:17,800 --> 00:14:19,800 You have found an amazing white space. 223 00:14:19,880 --> 00:14:22,760 It's the need of the girls and a growing segment too. 224 00:14:22,880 --> 00:14:24,880 In my view, it will become a huge market in future. 225 00:14:25,040 --> 00:14:28,120 I want to join your business. 226 00:14:31,120 --> 00:14:33,200 - You asked Rs. 1 crore for 2% equity. - Yes. 227 00:14:41,320 --> 00:14:43,920 - A dream deal. - He outdid everyone. 228 00:14:44,040 --> 00:14:46,640 I wanted everyone to fight over me. 229 00:14:46,720 --> 00:14:50,480 - It will happen! - It'll surely happen. Hold on! 230 00:14:52,480 --> 00:14:54,160 The competition isn't over yet! 231 00:14:54,240 --> 00:14:57,560 - "You must deal with us first." - Don't rush to close the deal. 232 00:14:58,200 --> 00:14:59,360 I offered you what you asked for. 233 00:14:59,440 --> 00:15:01,800 Secondly, I can help you build the team structure 234 00:15:01,880 --> 00:15:04,280 and provide the technology you need in digital marketing. 235 00:15:04,560 --> 00:15:05,520 You have grown organically till now. 236 00:15:05,600 --> 00:15:08,480 I can help you in expanding as that's my expertise. 237 00:15:09,280 --> 00:15:12,440 Parul, as an entrepreneur, 238 00:15:12,520 --> 00:15:14,240 you are amazing. You are a rock star. 239 00:15:14,360 --> 00:15:15,960 You aspire to be a Shark. 240 00:15:16,080 --> 00:15:18,560 I advised the same to a pitcher in the third deal 241 00:15:18,640 --> 00:15:20,920 - of the first season. - I saw that. Yes. 242 00:15:21,000 --> 00:15:23,240 Have a dream! One must have it. 243 00:15:23,920 --> 00:15:25,960 I saw many entrepreneurs in the US version 244 00:15:26,040 --> 00:15:28,000 who were pitchers and they went on to become Sharks. 245 00:15:28,080 --> 00:15:30,640 You have the potential. 246 00:15:32,280 --> 00:15:34,120 Your business can grow more. 247 00:15:34,200 --> 00:15:36,120 Vineeta and I 248 00:15:36,200 --> 00:15:40,720 will help you grow your business. 249 00:15:40,840 --> 00:15:42,000 Vineeta will brief you about the deal. 250 00:15:42,080 --> 00:15:45,240 Yes. Aman and I will invest together. 251 00:15:54,080 --> 00:15:56,280 You are giving a lesser valuation than me. Right? Just to be clear. 252 00:15:56,360 --> 00:15:57,720 Yes. Just to be clear. 253 00:15:58,160 --> 00:16:01,520 Namita, can I ask you something? Can you say, "for that reason, I'm out"? 254 00:16:01,640 --> 00:16:03,000 Can you please say that? 255 00:16:05,440 --> 00:16:07,080 Don't you want me to give you an offer? 256 00:16:07,160 --> 00:16:08,680 No. If you don't make an offer, 257 00:16:08,800 --> 00:16:11,120 I'd love that! 258 00:16:16,040 --> 00:16:19,120 I think for your business, 259 00:16:19,680 --> 00:16:23,880 you have three capable Sharks and two fabulous deals. 260 00:16:24,000 --> 00:16:27,120 I have no interest in this area, 261 00:16:27,680 --> 00:16:30,440 I don't have the expertise 262 00:16:30,520 --> 00:16:33,280 and for that reason, I'm out. 263 00:16:33,360 --> 00:16:36,080 - Well done! - Perfect! 264 00:16:36,800 --> 00:16:38,440 It was a pleasure meeting you. 265 00:16:38,760 --> 00:16:40,880 But I'm also an investor in Hair Originals. 266 00:16:41,200 --> 00:16:42,560 Oh! Okay. 267 00:16:42,640 --> 00:16:46,320 - And they are your direct competitor. - Yes! 268 00:16:46,400 --> 00:16:49,160 They are bigger in scale 269 00:16:49,440 --> 00:16:51,640 - and their growth is higher too. - Definitely. 270 00:16:52,040 --> 00:16:54,280 It'd be interesting to compete with you. 271 00:16:55,320 --> 00:16:58,480 So I'm looking forward to that and for that reason, I'm out. Good luck! 272 00:16:58,640 --> 00:17:00,960 I love that when you guys say that. I'm sorry! 273 00:17:01,880 --> 00:17:03,400 - Shall I ask you something? - Yes. 274 00:17:03,480 --> 00:17:06,880 In the beginning, you said, "I'm the owner of this business." 275 00:17:06,960 --> 00:17:09,920 - Yes. - And it has been playing on my mind. 276 00:17:10,760 --> 00:17:14,680 When you get investors and shareholders of your company today, 277 00:17:14,760 --> 00:17:17,360 you would no longer be the sole owner of your business. 278 00:17:18,160 --> 00:17:21,280 In future, investors might usurp 30% to 40% of your earnings. 279 00:17:21,360 --> 00:17:23,640 Do you have a thought process regarding that? 280 00:17:23,720 --> 00:17:26,320 I'm not looking to sell a lot of it 281 00:17:26,400 --> 00:17:29,480 because I want most of the ownership to belong to me. 282 00:17:29,560 --> 00:17:31,320 What is your lot? 283 00:17:31,400 --> 00:17:34,960 I think I'd keep 80% ownership to myself. 284 00:17:35,800 --> 00:17:37,240 Parul, I think 285 00:17:37,320 --> 00:17:39,280 you are a tough entrepreneur who is a fighter. 286 00:17:39,360 --> 00:17:41,000 You have big dreams. 287 00:17:41,080 --> 00:17:43,160 You can do self-marketing. 288 00:17:43,280 --> 00:17:44,760 I feel that growing 289 00:17:44,840 --> 00:17:48,720 your business from Rs. 50 crores to Rs. 100 crores will be easy. 290 00:17:48,800 --> 00:17:49,960 Right? For you. 291 00:17:50,080 --> 00:17:53,040 - I agree. - But when you move ahead in this journey 292 00:17:53,160 --> 00:17:56,280 to fulfil your dreams, the shareholding ecosystem is such 293 00:17:56,360 --> 00:18:00,080 that you'd have to dilute your equity to raise capital. 294 00:18:01,280 --> 00:18:02,880 For that reason, 295 00:18:03,200 --> 00:18:06,720 I'd like to be out for now. 296 00:18:06,800 --> 00:18:09,080 Secondly, I'm an investor in Hair Originals. 297 00:18:09,160 --> 00:18:10,640 They'll raise one more round soon. 298 00:18:10,920 --> 00:18:12,440 That's one of the reasons. 299 00:18:12,520 --> 00:18:16,080 But the bigger reason 300 00:18:16,280 --> 00:18:18,800 is that you'd face ownership issues in future. 301 00:18:18,880 --> 00:18:20,480 - You must focus on your team. - Yes. 302 00:18:20,560 --> 00:18:24,160 Maybe change your opinion about this and best of luck. 303 00:18:24,880 --> 00:18:27,240 So, Parul, you have two offers. 304 00:18:27,320 --> 00:18:28,960 First is Amit's 305 00:18:29,040 --> 00:18:31,840 which is Rs. 1 crore for 2% equity. 306 00:18:31,920 --> 00:18:35,120 And the second offer is given by Vineeta and me. 307 00:18:35,200 --> 00:18:37,000 Rs. 1 crore for 3% equity. 308 00:18:37,840 --> 00:18:39,880 I know that Amit and Vineeta 309 00:18:39,960 --> 00:18:42,760 have invested in many businesses already. 310 00:18:42,840 --> 00:18:46,320 I want to know about your availability. 311 00:18:46,920 --> 00:18:49,200 You'd get the maximum time from me 312 00:18:49,320 --> 00:18:51,840 because I don't work like a professional investor. 313 00:18:51,920 --> 00:18:53,600 For instance, Anupam has invested in innumerable companies. 314 00:18:53,680 --> 00:18:55,520 [sweeping music] 315 00:18:55,640 --> 00:18:59,120 - I have invested money in many companies. - Are they all growing? 316 00:18:59,720 --> 00:19:01,000 I was just sharing a fact. 317 00:19:01,080 --> 00:19:02,360 Alright. He didn't say it in an arrogant way. 318 00:19:02,440 --> 00:19:04,560 - It's not that... - You didn't say it in a bad way. 319 00:19:05,520 --> 00:19:08,120 I get involved at the ground execution level 320 00:19:08,280 --> 00:19:10,880 with my founders. That's what I do personally. 321 00:19:12,280 --> 00:19:14,840 Luckily, all the businesses I supervised till now 322 00:19:14,960 --> 00:19:17,240 are 100 million dollars plus businesses currently. 323 00:19:19,200 --> 00:19:23,560 You'd get access to the SUGAR team in Mumbai. 324 00:19:25,040 --> 00:19:27,920 I'm not sure how much time I'd spend with you as Sharks 325 00:19:28,000 --> 00:19:30,880 but our teams do exactly the same thing. 326 00:19:31,000 --> 00:19:34,280 So we can help you with distribution and social media. 327 00:19:35,800 --> 00:19:37,240 We have limited time. 328 00:19:37,320 --> 00:19:40,760 We are still building our businesses and we'd grow them 329 00:19:40,840 --> 00:19:44,480 but we'd support you whenever you need us. 330 00:19:46,400 --> 00:19:47,760 Please tell us your decision as the time is up. 331 00:19:47,840 --> 00:19:50,040 Absolutely! So my gut says, 332 00:19:53,160 --> 00:19:54,920 Amit, deal done! 333 00:20:11,520 --> 00:20:13,680 - We'd make a big enterprise. - Thank you! 334 00:20:13,760 --> 00:20:15,400 [photo clicking] 335 00:20:16,240 --> 00:20:18,680 - Thank you so much! - Aha! 336 00:20:23,200 --> 00:20:25,600 Alright, Parul. Welcome to PokerBaazi zone. 337 00:20:25,720 --> 00:20:28,360 You did outsmart the sharks with your 338 00:20:28,480 --> 00:20:30,720 business strategy and entrepreneurship. 339 00:20:30,800 --> 00:20:32,080 But now we need to see, 340 00:20:32,160 --> 00:20:35,280 can you outsmart me in this game? 341 00:20:35,360 --> 00:20:36,840 - Are you ready? Yeah? - Okay. 342 00:20:36,920 --> 00:20:40,040 There are 3 shark tank related statements in front of us. 343 00:20:40,120 --> 00:20:43,000 Statements, not facts. Two of them are true, 344 00:20:43,200 --> 00:20:45,600 and one of them is false. You have to use your brain 345 00:20:45,760 --> 00:20:47,640 and tell us which one is the false statement. 346 00:20:47,720 --> 00:20:49,280 - Are you ready? - We're seriously playing this? 347 00:20:49,360 --> 00:20:51,080 Yes, we are. First statement. 348 00:20:51,160 --> 00:20:52,960 In 2019, Vineeta won 349 00:20:53,040 --> 00:20:54,520 Startup of the Year award. 350 00:20:54,680 --> 00:20:56,080 Statement number two. Aman Gupta, 351 00:20:56,160 --> 00:20:58,120 along with being the co-founder of boAt, 352 00:20:58,240 --> 00:21:00,640 is also the chief marketing officer (CMO). 353 00:21:00,720 --> 00:21:01,760 Amit Jain 354 00:21:01,840 --> 00:21:04,640 made a profit of 1 crore rupees in the stock market. 355 00:21:04,720 --> 00:21:08,080 These are your three statements. Your time starts now. 356 00:21:08,280 --> 00:21:09,720 I think 357 00:21:09,880 --> 00:21:14,480 Vineeta won that award in 2021, 358 00:21:14,600 --> 00:21:16,800 not 2019. 359 00:21:17,520 --> 00:21:21,320 I don't have much knowledge whether Aman Gupta 360 00:21:21,640 --> 00:21:23,840 is also the chief marketing officer 361 00:21:23,920 --> 00:21:26,560 along with being the co-founder. 362 00:21:26,880 --> 00:21:28,520 - Of boAt, right? - Yes. 363 00:21:28,640 --> 00:21:30,920 Then that's true. And Amit Jain 364 00:21:31,000 --> 00:21:33,840 made a profit of 1 crore rupees in the stock market during which year? 365 00:21:34,080 --> 00:21:35,560 I don't know that. 366 00:21:35,680 --> 00:21:37,080 I think this is false. 367 00:21:37,160 --> 00:21:39,880 Amit Jain made a profit of 1 crore rupees in the stock market. 368 00:21:39,960 --> 00:21:41,640 You think that is false. 369 00:21:41,880 --> 00:21:44,120 I'll give you 10 seconds to change your answer if you want. 370 00:21:44,200 --> 00:21:44,960 Last chance. 371 00:21:45,040 --> 00:21:48,160 You have a great poker face. Okay, this is false. 372 00:21:48,280 --> 00:21:49,960 - Are you sure this is false? - Yes, now I'm sure. 373 00:21:50,040 --> 00:21:51,440 - Shall we lock that? - Yes. 374 00:21:51,520 --> 00:21:54,000 So you think Amit Jain has made a profit of 1 crore rupees 375 00:21:54,080 --> 00:21:55,960 in the stock market. Possible, he has a huge company. 376 00:21:56,000 --> 00:21:57,960 But Vineeta winning the Startup of the Year award in 2019... 377 00:21:58,040 --> 00:22:00,400 - Some other year. - Some other year, right? 378 00:22:00,600 --> 00:22:03,400 So, I gave you 10 seconds. You used the 10 seconds. 379 00:22:03,480 --> 00:22:05,280 You changed your answer. According to you, 380 00:22:05,360 --> 00:22:08,200 'In 2019, Vineeta won the Startup of the Year award.' 381 00:22:08,280 --> 00:22:10,680 is a false statement. 382 00:22:10,960 --> 00:22:14,720 The thing is, your answer is incorrect. 383 00:22:14,840 --> 00:22:16,160 You should've gone with your gut. 384 00:22:16,320 --> 00:22:18,680 The wrong statement was, 'Amit Jain 385 00:22:18,760 --> 00:22:21,240 made a profit of 1 crore rupees in the stock market.' 386 00:22:21,320 --> 00:22:23,000 In fact, he lost 1 crore rupees. 387 00:22:23,160 --> 00:22:24,880 The other two statements were correct. 388 00:22:35,840 --> 00:22:37,560 - Congratulations. - Thank you. 389 00:22:48,000 --> 00:22:50,240 [music playing] 390 00:23:11,000 --> 00:23:12,960 Sharks, do you see this apple? 391 00:23:13,040 --> 00:23:16,040 What will you use to cut this apple? 392 00:23:16,120 --> 00:23:16,680 A knife. 393 00:23:16,800 --> 00:23:18,080 Or a saw. 394 00:23:18,920 --> 00:23:20,040 Similarly, Sharks, 395 00:23:20,120 --> 00:23:24,320 if you want to buy something from a nearby grocery store 396 00:23:24,400 --> 00:23:26,680 or go to a nearby metro station. 397 00:23:26,760 --> 00:23:29,560 Why should we use cars or scooters? 398 00:23:29,640 --> 00:23:31,960 It's time to ask ourselves 399 00:23:32,080 --> 00:23:35,880 about the most efficient way to commute in traffic? 400 00:23:36,760 --> 00:23:40,760 Well, Sharks, it's an age-old option, a cycle. 401 00:23:40,840 --> 00:23:42,640 [music playing] 402 00:23:50,280 --> 00:23:51,880 [music playing] 403 00:23:53,000 --> 00:23:56,000 MYBYK is India's first and the biggest 404 00:23:56,080 --> 00:23:57,880 public bicycle sharing service. 405 00:24:02,720 --> 00:24:05,920 You can bring it home by subscribing to a fixed rental. 406 00:24:27,480 --> 00:24:29,360 We're here seeking 2 crores 407 00:24:38,360 --> 00:24:40,520 How do we move ahead? I can't digest it. 408 00:24:40,640 --> 00:24:42,400 A valuation of 200 crores? 409 00:24:43,880 --> 00:24:45,000 Let's ask the sales. 410 00:24:45,080 --> 00:24:46,800 No, first tell us. 411 00:24:46,880 --> 00:24:48,840 Share the details of your sales. 412 00:24:49,560 --> 00:24:51,480 This year, we're on track to make 8 crores. 413 00:24:51,560 --> 00:24:52,800 7.8 crore in sales. 414 00:25:00,920 --> 00:25:02,320 - So, well done. - Thank you. 415 00:25:02,400 --> 00:25:05,280 I think let's start from the very beginning. 416 00:25:13,720 --> 00:25:15,920 I was in Mumbai in 2010. 417 00:25:16,000 --> 00:25:18,200 And I was pursuing an internship at PwC. 418 00:25:18,320 --> 00:25:19,920 I'm a qualified chartered accountant. 419 00:25:20,000 --> 00:25:24,120 My hostel was in Andheri and my office was in Shivaji Park, Dadar. 420 00:25:24,760 --> 00:25:27,680 From my hostel to Andheri, it was roughly around 1.5 km. 421 00:25:27,760 --> 00:25:29,240 And the same from Dadar to the office. 422 00:25:29,400 --> 00:25:32,400 I would never find a rickshaw or taxi for that distance. 423 00:25:32,520 --> 00:25:35,680 So, I was frustrated and decided to buy two cycles. 424 00:25:35,840 --> 00:25:37,600 One to travel from my hostel to Andheri. 425 00:25:37,680 --> 00:25:41,040 I'll park it there and on the second cycle, go to the office from Dadar. 426 00:25:41,120 --> 00:25:43,320 That's how MYBYK was born. 427 00:25:45,120 --> 00:25:47,720 So, I returned to Ahmedabad after becoming a CA. 428 00:25:47,800 --> 00:25:49,600 I was supposed to join my father. 429 00:25:49,720 --> 00:25:53,400 I became a CA at a young age of 21. 430 00:25:53,480 --> 00:25:54,000 Wow! 431 00:25:54,120 --> 00:25:55,560 - Wow! - Thank you. 432 00:25:55,640 --> 00:25:57,240 - Like me. - Like me too. 433 00:25:57,320 --> 00:25:59,840 Oh, we have geniuses here. 434 00:25:59,920 --> 00:26:02,680 [music playing] 435 00:26:03,280 --> 00:26:06,680 - While working with my father... - Sorry, what does your father do? 436 00:26:06,760 --> 00:26:08,280 My father is a chartered accountant too. 437 00:26:08,360 --> 00:26:10,560 He practices debt finance indication. 438 00:26:10,640 --> 00:26:11,080 Got it. 439 00:26:11,160 --> 00:26:12,880 So, while working with my father 440 00:26:12,960 --> 00:26:15,080 I realised that 441 00:26:15,160 --> 00:26:17,760 earning money wasn't enough. 442 00:26:17,880 --> 00:26:22,200 I want to create a social impact business to be content in life. 443 00:26:22,520 --> 00:26:26,240 I felt that this business is dependent on the government. 444 00:26:26,320 --> 00:26:28,600 If I bring a good policy in a city, 445 00:26:28,680 --> 00:26:31,960 it will become a benchmark to be replicated in other cities. 446 00:26:32,040 --> 00:26:32,880 Correct. 447 00:26:33,240 --> 00:26:35,040 I narrated it to my father 448 00:26:35,120 --> 00:26:37,440 and I think he gave me the best advice of my life. 449 00:26:37,520 --> 00:26:39,080 He asked me what I wanted to do. 450 00:26:39,160 --> 00:26:43,000 I told him that I want to manage the practice and run MYBYK too. 451 00:26:43,080 --> 00:26:47,080 He said that if you've decided to do this, then dive in. 452 00:26:47,160 --> 00:26:49,240 - Don't sail on two boats. - Good! 453 00:26:49,360 --> 00:26:50,240 Great advice! 454 00:26:50,320 --> 00:26:53,240 In 2014, I started MYBYK. 455 00:26:56,960 --> 00:27:00,640 We got 1000 cycles from India's top manufacturer. 456 00:27:00,760 --> 00:27:03,320 In 2017, we did an angel round. 457 00:27:13,840 --> 00:27:15,360 [music playing] 458 00:27:15,480 --> 00:27:16,800 And that was a tough time. 459 00:27:16,880 --> 00:27:18,680 - It's been 8 years to this journey. - Wow! 460 00:27:36,360 --> 00:27:38,280 And we roped in Mr. Sanjay Baweja, 461 00:27:38,400 --> 00:27:40,720 ex-Group CFO of Flipkart as one of the marquee investors. 462 00:27:40,800 --> 00:27:42,200 - Wow! - Wonderful. 463 00:27:43,840 --> 00:27:47,200 It isn't a new model. 464 00:27:47,280 --> 00:27:50,160 I have seen numerous models and the depreciation 465 00:27:57,800 --> 00:28:00,800 I conceived this idea in 2013. 466 00:28:00,880 --> 00:28:02,560 Back then docked bike sharing 467 00:28:02,640 --> 00:28:04,920 by City Bikes and Barclays Cycle Hire, London 468 00:28:05,000 --> 00:28:07,440 were some of the prominent names in docked bike share system. 469 00:28:20,720 --> 00:28:22,640 [inspirational music] 470 00:28:22,720 --> 00:28:24,600 Then a new technology was introduced 471 00:28:32,760 --> 00:28:33,760 It was provided by Mobike. 472 00:28:33,840 --> 00:28:36,560 Yes. It can be tracked with GPRS. 473 00:28:36,640 --> 00:28:37,960 [motivational music] 474 00:28:38,040 --> 00:28:39,920 MYBYK is different 475 00:28:49,200 --> 00:28:52,520 so that the users know the place where they need to park the bicycle. 476 00:28:52,600 --> 00:28:54,920 So currently, our lifetime theft and vandalism ratio 477 00:29:02,520 --> 00:29:05,760 Let me demonstrate with the help of a user journey. 478 00:29:05,880 --> 00:29:09,880 Let's assume that this is MYBYK Hub outside a metro station. 479 00:29:23,120 --> 00:29:26,160 and one negative feedback from one bicycle user. 480 00:29:26,280 --> 00:29:29,240 So the next bicycle user can take an informed decision 481 00:29:29,360 --> 00:29:31,600 regarding the bicycle he wants to choose. 482 00:29:33,360 --> 00:29:35,280 When you select the hub near the metro station, 483 00:29:35,360 --> 00:29:38,320 the unique numbers of all three bicycles will be shown. 484 00:29:39,400 --> 00:29:41,160 If I may request Amit 485 00:29:41,240 --> 00:29:43,720 to please come here as I'd like to walk you through it. 486 00:29:43,800 --> 00:29:46,040 [dramatic music] 487 00:29:46,240 --> 00:29:49,040 You'd select the bike number 6670 488 00:29:50,080 --> 00:29:51,880 and select a plan. 489 00:29:51,960 --> 00:29:55,080 Typically, our focus is on subscriptions 490 00:30:13,280 --> 00:30:14,680 [ethereal music] 491 00:30:14,760 --> 00:30:17,160 And within 4 to 5 seconds, it'd connect via Bluetooth. 492 00:30:17,240 --> 00:30:19,360 It would ask you for reconfirmation. 493 00:30:19,440 --> 00:30:21,840 [ethereal music] 494 00:30:22,080 --> 00:30:24,000 - Got it. - Now this bicycle is unlocked. 495 00:30:24,240 --> 00:30:26,760 Yes. It's unlocked and now we can ride it. 496 00:30:27,880 --> 00:30:30,080 When you want to return the bike, 497 00:30:30,160 --> 00:30:33,280 park the bike at the station, lock it 498 00:30:33,360 --> 00:30:35,680 and press the 'return bike' button. 499 00:30:35,760 --> 00:30:38,800 When you return the bike, the app will check 500 00:30:38,920 --> 00:30:40,800 the bike's location. 501 00:30:40,880 --> 00:30:44,280 If it matches the hub's location, your request would be accepted. 502 00:30:44,360 --> 00:30:46,440 Or else, you'd be held accountable for that bicycle 503 00:30:46,520 --> 00:30:47,720 and you won't be allotted another one. 504 00:30:47,800 --> 00:30:50,600 If they are held accountable, what would you do? 505 00:30:51,760 --> 00:30:53,880 What if he hides it inside his house? 506 00:31:04,560 --> 00:31:07,200 What is the average duration of the subscription? 507 00:31:07,280 --> 00:31:09,560 Repeats and duration. 508 00:31:11,040 --> 00:31:13,960 Typically, our monthly plan sells the most. 509 00:31:44,120 --> 00:31:47,080 We run 3,000 bicycles in Ahmedabad city. 510 00:31:47,160 --> 00:31:49,760 Indore is our next big city with 1,200 bicycles. 511 00:31:49,880 --> 00:31:51,120 We run 1,000 bicycles in Kochi. 512 00:31:51,200 --> 00:31:53,040 Why are you exploring new cities? 513 00:31:53,120 --> 00:31:55,560 Have you captured Ahmedabad fully? 514 00:31:56,600 --> 00:31:58,320 We are following a business model 515 00:31:58,520 --> 00:32:02,000 in which we have to create stations only at public transit junctions. 516 00:32:03,280 --> 00:32:07,720 For example, all 40 stations of both metro routes in Nagpur 517 00:32:07,800 --> 00:32:08,920 are fully covered by us. 518 00:32:09,000 --> 00:32:12,280 If I go to Ahmedabad, will I see your bike on the road? 519 00:32:13,520 --> 00:32:16,840 Sir, three contestants present backstage rode MYBYK already. 520 00:32:17,880 --> 00:32:19,720 Please reveal this mystery. 521 00:32:19,840 --> 00:32:21,440 You increased your company's valuation 522 00:32:21,520 --> 00:32:23,800 from Rs. 50 crores to Rs. 200 crores within a year. 523 00:32:24,520 --> 00:32:26,120 What is the mystery behind it? 524 00:32:26,440 --> 00:32:30,640 We increased our revenue through the rental business since last year. 525 00:32:36,920 --> 00:32:38,320 What do you mean by trading? 526 00:32:39,440 --> 00:32:43,000 We received a 100% capital subsidy in some cities 527 00:32:43,080 --> 00:32:45,440 to execute our project. 528 00:32:45,600 --> 00:32:49,040 We sell bicycles to cities and they pay us in return. 529 00:32:49,160 --> 00:32:51,280 - Got it. - That is the trading part. 530 00:32:56,920 --> 00:32:58,800 It means we earned Rs. 4.4 crores through the rental business. 531 00:32:58,880 --> 00:33:00,440 What about FY 22-23? 532 00:33:00,560 --> 00:33:04,040 Sir, we'll earn Rs. 6.3 crores through the rental business 533 00:33:08,720 --> 00:33:10,640 Yes. We will earn Rs. 7.8 crores 534 00:33:10,840 --> 00:33:13,560 and we did product development. 535 00:33:13,640 --> 00:33:16,080 We developed electric bike as a product 536 00:33:16,240 --> 00:33:18,360 and we would launch it after three months. 537 00:33:18,480 --> 00:33:21,400 So we have grown within a year. 538 00:33:21,600 --> 00:33:23,160 What is your burn rate right now? 539 00:33:52,080 --> 00:33:56,240 One bicycle costs Rs. 11,500 plus GST. 540 00:33:56,320 --> 00:33:58,560 It includes the bicycle and the IoT lock. 541 00:33:59,360 --> 00:34:00,640 At the blended level, 542 00:34:00,800 --> 00:34:02,720 I generated Rs. 521 543 00:34:02,880 --> 00:34:05,440 revenue per bike last year. 544 00:34:05,560 --> 00:34:07,520 - Is it per year? - Per month! 545 00:34:24,360 --> 00:34:27,720 What is the payback? How much time do you need to earn Rs. 11,000? 546 00:34:27,960 --> 00:34:30,600 - I'll take around 48 months. - Four years! 547 00:34:35,160 --> 00:34:36,280 What is its future? 548 00:34:37,240 --> 00:34:40,640 - Our long-term vision is mobility as a service. - Okay. 549 00:34:40,760 --> 00:34:44,720 - We are starting with bicycles which we own and operate. - Fine. 550 00:34:44,800 --> 00:34:47,520 We are doing integration with public transport 551 00:34:47,680 --> 00:34:49,680 to provide their ticketing service through our app. 552 00:34:50,720 --> 00:34:52,920 We may partner with Ola and Uber. 553 00:34:53,000 --> 00:34:55,280 Similarly, we may partner with Zoomcar. 554 00:34:55,360 --> 00:34:57,280 What's the point of partnering with Ola and Uber? 555 00:34:58,320 --> 00:34:59,720 Sir, we may bundle the services. 556 00:34:59,840 --> 00:35:03,960 Mobility as a subscription. A single subscription gives unlimited MYBYK, 557 00:35:04,120 --> 00:35:05,480 unlimited public transport 558 00:35:05,560 --> 00:35:07,640 and a taxi ride for a few kilometres. 559 00:35:07,760 --> 00:35:08,800 Why would they partner with you? 560 00:35:08,880 --> 00:35:10,560 Sir, everyone needs to integrate 561 00:35:10,680 --> 00:35:12,680 because mobility can't be solved by one platform. 562 00:35:12,800 --> 00:35:14,200 They may do it on their own. 563 00:35:15,760 --> 00:35:17,360 You have been trying for many years 564 00:35:17,440 --> 00:35:19,960 and it's good that you have been reattempting. 565 00:35:21,640 --> 00:35:25,200 But this model at your valuation 566 00:35:26,280 --> 00:35:29,080 appears to be high-risk so I'm out. 567 00:35:29,160 --> 00:35:30,600 [suspenseful music] 568 00:35:30,800 --> 00:35:32,800 I think you should consider the fact 569 00:35:32,880 --> 00:35:34,800 that what's the long-term vision? 570 00:35:36,120 --> 00:35:40,520 MYBYK is the highest-rated public bike sharing app on the app store. 571 00:35:40,600 --> 00:35:43,640 It has a 4.5-star rating. 572 00:35:44,040 --> 00:35:45,960 I don't understand 573 00:35:46,040 --> 00:35:48,160 what your business is and what's the TAM? 574 00:35:48,240 --> 00:35:50,280 [music playing] 575 00:35:55,640 --> 00:35:58,000 Your monthly revenue is 25 lakhs. 576 00:35:58,080 --> 00:36:01,000 Means 12 lakh rupees as contribution margin that is, 50%. 577 00:36:01,080 --> 00:36:02,880 [music playing] 578 00:36:03,920 --> 00:36:07,320 When we reduce all the variable costs from net revenue, 579 00:36:07,440 --> 00:36:10,320 cost of making, logistics, performance marketing 580 00:36:10,400 --> 00:36:11,680 and direct channel costs. 581 00:36:11,840 --> 00:36:13,840 We're left with a contribution margin. 582 00:36:15,440 --> 00:36:18,080 You're earning 12 lakhs in Ahmedabad. 583 00:36:18,240 --> 00:36:20,440 Forget the EBITDA. Tell me about the operational profit. 584 00:36:29,200 --> 00:36:31,480 We started with cycles in Ahmedabad. 585 00:36:31,600 --> 00:36:34,640 We didn't spend on marketing or anything else. 586 00:36:34,760 --> 00:36:37,360 - We have grown organically. - I'll tell you one thing, Arjit. 587 00:36:37,440 --> 00:36:42,000 Similar to what Anupam is saying, look at India's societal dynamics. 588 00:36:43,720 --> 00:36:47,200 For two reasons, the TAM will be low in this country. 589 00:36:48,760 --> 00:36:51,360 Number one, India is an aspirational market. 590 00:36:51,600 --> 00:36:54,560 Cycles are still not respected much. 591 00:36:55,120 --> 00:36:57,480 The cultural thought 592 00:36:57,640 --> 00:36:59,560 will take years to be changed. 593 00:37:01,120 --> 00:37:03,080 The second point is the traffic. 594 00:37:03,360 --> 00:37:05,040 The condition of the roads 595 00:37:05,440 --> 00:37:07,240 is not so conducive. 596 00:37:08,000 --> 00:37:12,040 For cycling experience or a bike rental model. 597 00:37:13,440 --> 00:37:16,320 And for that reason, it seems challenging to me 598 00:37:16,520 --> 00:37:18,880 from an investment perspective, so I'm out. 599 00:37:20,160 --> 00:37:21,800 Car sharing, 600 00:37:21,960 --> 00:37:25,040 rentals, motorbike rentals don't work here. 601 00:37:25,120 --> 00:37:28,480 In such a scenario, the rental businesses of such low-cost assets 602 00:37:28,600 --> 00:37:30,840 seem difficult to function in India. 603 00:37:30,960 --> 00:37:33,280 So, I can't join you right now. 604 00:37:34,120 --> 00:37:36,720 But, it's a good mission. Best of luck! 605 00:37:36,840 --> 00:37:38,520 [music playing] 606 00:37:39,320 --> 00:37:40,720 Arjit, I'm also out. 607 00:37:41,920 --> 00:37:44,200 I lost you at Uber, Ola subscription. 608 00:37:44,280 --> 00:37:46,360 You want to steer towards their model. 609 00:37:47,200 --> 00:37:50,160 I like you as an entrepreneur but I don't like your valuation. 610 00:37:50,400 --> 00:37:50,960 So, I'm out. 611 00:37:51,080 --> 00:37:52,080 Thank you, Aman. 612 00:37:53,280 --> 00:37:55,760 Arjit, good job! 613 00:37:56,760 --> 00:37:59,080 I respect your sincerity. 614 00:37:59,240 --> 00:38:03,800 But my problem is that you have raised around 13 crores. 615 00:38:03,920 --> 00:38:04,800 Until now. 616 00:38:04,880 --> 00:38:08,480 And you built a business with 25 lakhs contribution margin. 617 00:38:10,360 --> 00:38:13,320 So, it's clear that there is 618 00:38:13,560 --> 00:38:15,080 no product-market fit. 619 00:38:16,080 --> 00:38:17,440 And there's no scalability. 620 00:38:19,080 --> 00:38:20,720 These businesses 621 00:38:20,880 --> 00:38:23,920 can earn operational profits at a scale. 622 00:38:24,400 --> 00:38:26,160 [music playing] 623 00:38:26,960 --> 00:38:29,320 It requires high scaling and big capital. 624 00:38:29,400 --> 00:38:32,040 I don't see that happening. So, I'm out. Good luck! 625 00:38:34,800 --> 00:38:38,880 I was trying to understand the unit of economics. 626 00:38:38,960 --> 00:38:42,560 There are important things that you're not sharing as a founder. 627 00:38:42,680 --> 00:38:44,560 [music playing] 628 00:38:45,320 --> 00:38:48,200 - The depth of understanding of the business model itself. - Okay. 629 00:38:48,280 --> 00:38:50,680 Your valuation is also off the tangent. 630 00:38:51,520 --> 00:38:54,600 I want to be out. Thank you so much. 631 00:38:55,840 --> 00:38:58,240 - Thank you. - Thank you for this opportunity. 632 00:38:58,480 --> 00:39:00,880 [music playing] 633 00:40:06,240 --> 00:40:08,040 The partnership between Cashfree Payments 634 00:40:08,120 --> 00:40:09,760 and Shark Tank India has been phenomenal. 635 00:40:09,840 --> 00:40:13,400 Shark Tank India has built a great platform in India. 636 00:40:13,480 --> 00:40:15,240 Through this platform, we believe that 637 00:40:15,320 --> 00:40:18,040 many entrepreneurs will start their businesses in India. 638 00:40:18,160 --> 00:40:21,120 And they will grow their businesses too by understanding 639 00:40:21,240 --> 00:40:22,600 and participating in the show. 640 00:40:22,720 --> 00:40:25,280 The biggest win is motivating the people 641 00:40:25,440 --> 00:40:27,480 because it's not difficult to build a business in India. 642 00:40:27,560 --> 00:40:29,440 And there's enough support here 643 00:40:29,560 --> 00:40:32,000 for new businesses and entrepreneurs 644 00:40:32,240 --> 00:40:35,000 so that they can go and be successful in their journey. 645 00:40:36,000 --> 00:40:39,880 Shark Tank Season 1 earned a lot of love from India. 646 00:40:40,440 --> 00:40:43,920 I'm Juggadu Kamlesh from Malegaon. 647 00:40:44,360 --> 00:40:46,840 Shark Tank gave a very big platform 648 00:40:46,960 --> 00:40:48,520 to Kamlesh, a small-town boy. 649 00:40:49,280 --> 00:40:53,160 After witnessing India's love and passion for entrepreneurship, 650 00:40:53,480 --> 00:40:56,280 we decided to make Shark Tank Season 2. 651 00:40:57,240 --> 00:40:58,680 Oh! 652 00:40:59,360 --> 00:41:02,640 After the audition of many inspiring entrepreneurs, 653 00:41:02,760 --> 00:41:04,760 Woah! 654 00:41:05,000 --> 00:41:08,760 Many great business ideas and entrepreneurs came up. 655 00:41:08,880 --> 00:41:10,280 PORTL is a mirror 656 00:41:10,400 --> 00:41:12,240 that helps you workout 657 00:41:12,360 --> 00:41:15,320 and constantly monitors you and gives you real-time feedback 658 00:41:15,480 --> 00:41:16,520 and guidance too. 659 00:41:16,640 --> 00:41:18,800 Very exciting! Unique product. 660 00:41:18,880 --> 00:41:19,600 [music playing] 661 00:41:19,720 --> 00:41:22,440 GEEANI is India's cost-effective, efficient, 662 00:41:22,560 --> 00:41:24,680 and compact electric tractor. 663 00:41:25,680 --> 00:41:28,200 NeoFly is a personalised wheelchair. 664 00:41:28,320 --> 00:41:30,960 It is tailored to a user's body measurements. 665 00:41:31,080 --> 00:41:33,120 You're the face of emerging India. 666 00:41:33,240 --> 00:41:34,520 [music playing] 667 00:41:34,640 --> 00:41:38,520 MeduLance's helpline and backend technology support 668 00:41:38,640 --> 00:41:41,160 provide an ambulance in 20 minutes. 669 00:41:41,280 --> 00:41:42,680 Wow! 670 00:41:43,000 --> 00:41:46,040 I'm 19 years old. The founders of Zillionaire. 671 00:41:46,280 --> 00:41:47,840 Celebrities wear our jewellery too. 672 00:41:47,960 --> 00:41:49,720 Ranveer Singh, Karan Johar. 673 00:41:49,840 --> 00:41:52,160 I think you guys will build something big. 674 00:41:52,800 --> 00:41:55,120 The products of these entrepreneurs 675 00:41:55,280 --> 00:41:57,040 and their stories are unique. 676 00:41:57,160 --> 00:41:59,400 We started a company called WittyFeed. 677 00:41:59,520 --> 00:42:01,600 We had a profitable annual revenue of 40 crores. 678 00:42:01,720 --> 00:42:03,840 But the company disappeared overnight. 679 00:42:03,960 --> 00:42:05,400 Woof! 680 00:42:05,920 --> 00:42:08,720 But, as a founder, I don't want to give up. 681 00:42:08,840 --> 00:42:10,080 This is the sign 682 00:42:10,200 --> 00:42:11,800 of an entrepreneur. 683 00:42:12,000 --> 00:42:13,360 He always rises. 684 00:42:14,680 --> 00:42:16,000 Flatheads are made of banana fibre, 685 00:42:16,080 --> 00:42:18,040 linen, and bamboo fibre. 686 00:42:18,240 --> 00:42:19,360 Did you make money? 687 00:42:19,760 --> 00:42:21,760 In the last two months, we invested our money. 688 00:42:21,880 --> 00:42:23,880 You seem to be lost. 689 00:42:24,000 --> 00:42:25,680 If you don't get funds here, what's your plan? 690 00:42:25,760 --> 00:42:27,080 The company might shut down. 691 00:42:27,240 --> 00:42:28,280 [music playing] 692 00:42:28,400 --> 00:42:31,800 Like their stories, their valuation 693 00:42:31,920 --> 00:42:33,400 surprised Sharks. 694 00:42:33,480 --> 00:42:35,360 1.2 crores for 695 00:42:35,480 --> 00:42:37,280 0.2% equity. 696 00:42:37,480 --> 00:42:39,200 - Huh? - What's the valuation? 697 00:42:39,320 --> 00:42:41,040 - 600 crores. - [groans] 698 00:42:41,160 --> 00:42:42,560 We're asking for 3 crores 699 00:42:42,680 --> 00:42:44,720 for 1% equity. 700 00:42:44,840 --> 00:42:45,720 What? 701 00:42:45,880 --> 00:42:48,320 2.5 crores for 702 00:42:48,480 --> 00:42:50,000 1% equity. 703 00:42:50,680 --> 00:42:51,680 250 crores. 704 00:42:51,880 --> 00:42:54,800 - 2 crores for 1% equity. - Wow! 705 00:42:54,920 --> 00:42:59,320 1.5 crores for 0.5% equity. 706 00:42:59,440 --> 00:43:00,600 [coughs] 707 00:43:00,720 --> 00:43:01,560 What? 708 00:43:01,640 --> 00:43:04,480 1.5 crores for 0.5% equity. 709 00:43:04,600 --> 00:43:06,200 Explosive valuation! 710 00:43:06,440 --> 00:43:07,760 [music playing] 711 00:43:08,000 --> 00:43:09,320 I will make you an offer. 712 00:43:09,480 --> 00:43:10,800 - Oh! - I... 713 00:43:10,920 --> 00:43:11,920 [cheers] 714 00:43:12,040 --> 00:43:13,160 I need 10%. 715 00:43:13,280 --> 00:43:15,440 I will give you 5 crores instead of 2. 716 00:43:15,560 --> 00:43:17,240 - It's a deal. - [cheers] 717 00:43:17,360 --> 00:43:19,680 In the action-packed Season 2, 718 00:43:19,800 --> 00:43:21,520 there were 103 deals. 719 00:43:22,480 --> 00:43:24,400 - I will make you an offer. - Me too. 720 00:43:24,480 --> 00:43:25,480 Oh my! 721 00:43:25,600 --> 00:43:26,920 This platform 722 00:43:27,040 --> 00:43:29,520 gave wings to many new businesses. 723 00:43:29,640 --> 00:43:33,080 Here's my blank cheque. Fill it out and say goodbye to them! 724 00:43:33,200 --> 00:43:34,120 What? 725 00:43:34,240 --> 00:43:37,760 They taught India the right value of a business. 726 00:43:38,040 --> 00:43:39,200 [music playing] 727 00:43:42,200 --> 00:43:44,120 And ACKO welcomes this change. 728 00:43:44,320 --> 00:43:46,560 They changed the way of buying insurance policies 729 00:43:46,640 --> 00:43:48,960 with their 24-hour claim settlement policy. 730 00:43:49,080 --> 00:43:50,520 In the same way, the life of these entrepreneurs 731 00:43:50,600 --> 00:43:52,680 will undergo a sea change after partnering with Sharks. 732 00:43:52,760 --> 00:43:54,480 [water bubbling] 733 00:43:57,240 --> 00:43:59,360 Energy is the greatest strength of my life. 734 00:43:59,480 --> 00:44:01,720 I get that from my fitness routine. 735 00:44:02,760 --> 00:44:04,600 [music playing] 736 00:44:06,240 --> 00:44:09,920 Between 7 and 8:30 in this house, 737 00:44:10,080 --> 00:44:11,240 it's completely chaotic. 738 00:44:11,360 --> 00:44:12,880 Whose is this? 739 00:44:13,440 --> 00:44:14,520 [music playing] 740 00:44:14,640 --> 00:44:16,560 Can you look at what you're eating? 741 00:44:16,680 --> 00:44:18,200 [music playing] 742 00:44:18,320 --> 00:44:19,640 Okay, baby. Bye! 743 00:44:19,760 --> 00:44:20,600 Oye! 744 00:44:20,720 --> 00:44:23,000 After that, I drink coffee in peace 745 00:44:23,120 --> 00:44:24,320 and leave for office. 746 00:44:25,400 --> 00:44:28,880 We are going to one of our biggest manufacturing factories. 747 00:44:29,400 --> 00:44:30,960 [music playing] 748 00:44:32,920 --> 00:44:35,320 A brand is not built by marketing or advertising. 749 00:44:35,440 --> 00:44:37,880 A brand is built with great products 750 00:44:38,160 --> 00:44:40,200 and those small moments 751 00:44:40,440 --> 00:44:42,880 when your customers fall in love with your products. 752 00:44:43,480 --> 00:44:45,000 [music playing] 753 00:44:45,800 --> 00:44:47,240 I have 52 colours. 754 00:44:47,360 --> 00:44:51,920 My team spends two months to bring perfection to every colour. 755 00:44:52,160 --> 00:44:53,960 [music playing] 756 00:44:54,840 --> 00:44:57,880 I'm very lucky to be able to do things that I love. 757 00:44:58,000 --> 00:45:02,040 So, my journey is my biggest joy. 758 00:45:02,200 --> 00:45:04,040 And my journey is my success. 759 00:45:04,160 --> 00:45:06,360 Hi! I'm Vineeta. Nice to meet you. 760 00:45:06,600 --> 00:45:07,960 [music playing] 761 00:45:08,080 --> 00:45:12,120 Every day, there's a new challenge and problem that come up. 762 00:45:12,440 --> 00:45:13,800 [music playing] 763 00:45:14,080 --> 00:45:16,280 But if you enjoy problem-solving 764 00:45:16,400 --> 00:45:18,440 then it's an adventurous job. 765 00:45:18,560 --> 00:45:20,400 And that's what I wanted in life. 766 00:45:20,520 --> 00:45:22,160 Life should not be boring. 767 00:45:22,280 --> 00:45:23,640 It should be adventurous. 768 00:45:23,760 --> 00:45:25,320 It's 120%. 769 00:45:25,440 --> 00:45:26,800 120%. 770 00:45:26,920 --> 00:45:28,360 [cheers] 771 00:45:29,920 --> 00:45:32,800 Today, Sugar is among the top 3 brands in India. 772 00:45:32,920 --> 00:45:36,160 And I could achieve this impossible task 773 00:45:36,320 --> 00:45:39,080 because my team supported me. 774 00:45:40,320 --> 00:45:42,200 I humbly accept this on the behalf of 775 00:45:42,320 --> 00:45:46,080 incredible 2500 women who work at Sugar. 776 00:45:46,200 --> 00:45:48,160 We're glad that Sugar's here. 777 00:45:50,320 --> 00:45:53,160 Every entrepreneur's journey is painful. 778 00:45:53,280 --> 00:45:55,360 To endure the pain, 779 00:45:55,480 --> 00:45:57,400 every person needs fuel. 780 00:45:57,520 --> 00:45:59,840 My family is my fuel. 781 00:45:59,960 --> 00:46:01,680 Oh my, God! 782 00:46:03,720 --> 00:46:04,920 [music playing] 783 00:46:05,080 --> 00:46:07,680 World's Best Mom! Oh, my God! 784 00:46:07,800 --> 00:46:09,480 Can you come here for a second? 785 00:46:09,800 --> 00:46:11,400 [music playing] 786 00:46:11,960 --> 00:46:12,800 [explodes] 787 00:46:12,880 --> 00:46:14,240 Wow! 788 00:46:14,400 --> 00:46:15,720 [laughs] 789 00:46:16,880 --> 00:46:20,080 I receive unconditional love from my family. 790 00:46:20,200 --> 00:46:23,640 If I don't get that, I don't think I will be happy 791 00:46:23,760 --> 00:46:25,640 with any of my professional achievements. 792 00:46:25,760 --> 00:46:26,920 Woah! 793 00:46:30,080 --> 00:46:31,240 [bubbling] 794 00:46:31,360 --> 00:46:32,640 It's Vineeta. 795 00:46:32,760 --> 00:46:34,120 It's Vineeta's business. 796 00:46:34,240 --> 00:46:36,280 It's either Vineeta's or CarDekho. 797 00:46:36,400 --> 00:46:38,040 - It must be either. - It's CarDekho. 798 00:46:38,560 --> 00:46:39,880 There's a car here. 799 00:46:40,160 --> 00:46:41,280 [music playing] 800 00:46:41,480 --> 00:46:43,120 Do you know who it can be? 801 00:46:43,360 --> 00:46:44,240 Skippi. 802 00:46:44,360 --> 00:46:45,400 - Skippi? - I feel the same. 803 00:46:45,480 --> 00:46:46,880 It's a celebration, not a deal. 804 00:46:47,280 --> 00:46:49,320 [music playing] 805 00:46:55,960 --> 00:46:57,720 [music playing] 806 00:47:00,760 --> 00:47:02,560 [laughs] 807 00:47:03,600 --> 00:47:05,080 [laughs] 808 00:47:05,240 --> 00:47:06,560 [clapping] 809 00:47:09,040 --> 00:47:10,360 Oh, my God! 810 00:47:11,240 --> 00:47:12,840 [music playing] 811 00:47:13,480 --> 00:47:15,520 Don't expect any mercy. 812 00:47:15,640 --> 00:47:18,120 There will be opposite of mercy today. 813 00:47:18,240 --> 00:47:19,920 [laughs] 814 00:47:20,280 --> 00:47:22,960 Sharks, I want to start with a small request. 815 00:47:23,120 --> 00:47:24,280 [music playing] 816 00:47:24,480 --> 00:47:25,760 For a few moments, 817 00:47:25,920 --> 00:47:28,200 can I turn your fellow Shark of 2022, 818 00:47:28,480 --> 00:47:29,640 Vineeta Singh 819 00:47:29,760 --> 00:47:32,200 into my co-founder in 2016? 820 00:47:32,320 --> 00:47:34,520 - Sure. - Wow, that's so sweet. 821 00:47:34,720 --> 00:47:35,880 Of course. 822 00:47:36,080 --> 00:47:37,040 [clapping] 823 00:47:37,280 --> 00:47:40,520 In 2016, Sugar Cosmetics 824 00:47:40,640 --> 00:47:43,760 disrupted the beauty and cosmetic market in India. 825 00:47:44,400 --> 00:47:46,520 To repeat that pitch, 826 00:47:46,720 --> 00:47:48,680 our Shark Vineeta Singh 827 00:47:48,840 --> 00:47:52,200 and her husband and co-founder, Kaushik Mukherjee. 828 00:47:52,800 --> 00:47:54,560 [music playing] 829 00:47:55,360 --> 00:47:57,240 Vineeta, red lipstick? 830 00:47:57,560 --> 00:47:59,080 We are here to make a pitch. 831 00:47:59,200 --> 00:48:00,720 This isn't a wedding venue. 832 00:48:01,800 --> 00:48:04,840 I don't think you have lost the tan from Goa. 833 00:48:04,960 --> 00:48:07,080 You could've used a lighter shade foundation. 834 00:48:07,920 --> 00:48:10,400 Use less makeup. What will people say? 835 00:48:11,400 --> 00:48:14,040 What are you wearing? What will people say? 836 00:48:15,120 --> 00:48:17,480 Use fairness cream or you won't get married. 837 00:48:17,640 --> 00:48:18,560 Reduce your weight. 838 00:48:18,680 --> 00:48:19,880 Put on some weight. 839 00:48:21,000 --> 00:48:22,800 - Study less. - Enough, Vineeta! 840 00:48:22,920 --> 00:48:23,840 Enough! 841 00:48:23,960 --> 00:48:26,000 That is too dramatic! I think they get the point. 842 00:48:26,320 --> 00:48:27,760 [music playing] 843 00:48:27,960 --> 00:48:29,800 Women have been 844 00:48:29,920 --> 00:48:32,800 conditioned to listen to such taunts. 845 00:48:33,040 --> 00:48:34,120 [music playing] 846 00:48:34,240 --> 00:48:37,000 But the country is changing. 847 00:48:37,120 --> 00:48:40,400 Today, girls are not confined to their homes. 848 00:48:40,640 --> 00:48:43,120 And our independence 849 00:48:43,440 --> 00:48:47,160 has impacted the beauty industry heavily. 850 00:48:47,440 --> 00:48:48,520 [music playing] 851 00:48:48,720 --> 00:48:50,280 In the last 8 years, 852 00:48:50,400 --> 00:48:54,320 despite 24% annual growth 853 00:48:54,440 --> 00:48:56,760 the colour cosmetics industry 854 00:48:56,960 --> 00:48:58,880 has 40% 855 00:48:59,080 --> 00:49:03,080 unbranded, unsafe, and non-FDA products. 856 00:49:03,360 --> 00:49:05,040 [music playing] 857 00:49:05,520 --> 00:49:07,840 And to fulfil these demands 858 00:49:07,960 --> 00:49:10,000 we launched Sugar Cosmetics. 859 00:49:10,120 --> 00:49:12,080 Greetings, Sharks! I'm Kaushik. 860 00:49:16,800 --> 00:49:18,120 [music playing] 861 00:49:18,400 --> 00:49:21,040 High-quality, long-lasting makeup 862 00:49:21,240 --> 00:49:24,600 that is tailored for Indian skin. 863 00:49:24,720 --> 00:49:27,840 And it matches Indian skin tones. 864 00:49:27,960 --> 00:49:31,040 Including the deepest skin tones. 865 00:49:32,640 --> 00:49:35,560 And we're the only beauty brand in India 866 00:49:35,680 --> 00:49:38,840 that delivers our products directly to your house. 867 00:49:38,960 --> 00:49:40,880 Direct to the consumer's home. 868 00:49:41,000 --> 00:49:42,800 So, our vision 869 00:49:43,000 --> 00:49:46,040 at Sugar Cosmetics 870 00:49:46,400 --> 00:49:50,800 is to empower young women's self-confidence and self-love 871 00:49:51,240 --> 00:49:52,680 through our products. 872 00:49:52,880 --> 00:49:53,880 [music playing] 873 00:49:54,000 --> 00:49:57,280 So that women can wear bold red lipstick 874 00:49:57,480 --> 00:50:01,000 or hot pink lipstick without any hesitation. 875 00:50:01,520 --> 00:50:02,480 [music playing] 876 00:50:02,680 --> 00:50:03,720 So, Sharks, 877 00:50:03,840 --> 00:50:06,360 Our ask is Rs. 1 crore 878 00:50:12,760 --> 00:50:14,800 and build 879 00:50:15,040 --> 00:50:15,920 Sugar. 880 00:50:16,040 --> 00:50:18,360 Young India's favourite beauty brand. 881 00:50:18,760 --> 00:50:20,440 [music playing] 882 00:50:27,000 --> 00:50:28,120 - Sir, you're looking great. - Thank you. 883 00:50:28,200 --> 00:50:30,080 Your Indian flag looks great. Jai Hind! 884 00:50:30,200 --> 00:50:31,200 Jai Hind! 885 00:50:31,400 --> 00:50:32,800 We have to revolutionise the country. 886 00:50:32,920 --> 00:50:34,640 You're young entrepreneurs... 887 00:50:34,760 --> 00:50:35,960 Okay, move on. 888 00:50:36,080 --> 00:50:37,040 Okay. 889 00:50:37,240 --> 00:50:38,400 [laughs] 890 00:50:38,600 --> 00:50:40,200 Let's move on. 891 00:50:40,920 --> 00:50:41,920 Tell me. 892 00:50:42,560 --> 00:50:44,440 Are you husband and wife? 893 00:50:44,560 --> 00:50:45,720 Yes, sir. 894 00:50:46,080 --> 00:50:49,400 When did you start this business and why makeup? 895 00:50:49,760 --> 00:50:51,200 Especially you, Kaushik. 896 00:50:51,480 --> 00:50:52,800 [music playing] 897 00:50:52,920 --> 00:50:55,880 So, Anupam, before this venture 898 00:50:56,000 --> 00:50:58,080 we have had our individual startups. 899 00:50:58,280 --> 00:51:00,880 We got married in 2011. 900 00:51:01,080 --> 00:51:04,160 And when we decided to build together 901 00:51:04,320 --> 00:51:05,920 we just decided... 902 00:51:06,040 --> 00:51:07,840 Just a moment. What were you doing earlier? 903 00:51:08,200 --> 00:51:09,680 We met at our business school. 904 00:51:09,840 --> 00:51:11,720 - And after that... - Which business school? 905 00:51:11,840 --> 00:51:13,680 We studied at IIM-Ahmedabad. 906 00:51:13,800 --> 00:51:15,480 Oh! Wow! 907 00:51:15,640 --> 00:51:16,720 Who was pursuing the other? 908 00:51:17,040 --> 00:51:18,400 [laughs] 909 00:51:19,480 --> 00:51:21,880 Aman, we weren't in the same batch on campus. 910 00:51:22,000 --> 00:51:23,520 Vineeta was a batch senior to me. 911 00:51:23,640 --> 00:51:24,600 Between us, 912 00:51:24,720 --> 00:51:25,960 the junior pursued the senior. 913 00:51:26,160 --> 00:51:27,240 Ah! 914 00:51:27,360 --> 00:51:28,840 It depends on who you're asking. 915 00:51:28,920 --> 00:51:31,560 You will hear different versions. 916 00:51:31,840 --> 00:51:32,960 [laughs] 917 00:52:07,920 --> 00:52:09,000 2012. 918 00:52:09,120 --> 00:52:11,480 I think I'm an indirect investor in that, isn't it? 919 00:52:11,600 --> 00:52:12,640 - Yes, sir. - Yes. 920 00:52:12,800 --> 00:52:14,640 - Yes. - Couldn't you find anything else? 921 00:52:14,760 --> 00:52:16,000 Smacking red colour on the face, 922 00:52:16,080 --> 00:52:19,240 what did you think? What do your parents have to say? 923 00:52:19,400 --> 00:52:20,640 [music playing] 924 00:52:20,760 --> 00:52:22,640 They always feared 925 00:52:22,760 --> 00:52:24,440 that I would fail. 926 00:52:24,640 --> 00:52:28,680 But I have failed so many times already 927 00:52:28,760 --> 00:52:30,880 so I think they've given up on me. 928 00:52:31,000 --> 00:52:32,120 [music playing] 929 00:52:36,440 --> 00:52:38,560 We have been entrepreneurs earlier 930 00:52:38,680 --> 00:52:41,760 so this decision-making, not just as a couple 931 00:52:41,920 --> 00:52:45,760 but decision-making clarity among co-founders 932 00:52:46,000 --> 00:52:48,840 and having a clear, defined CEO is very important. 933 00:52:48,960 --> 00:52:50,040 Who is the CEO here? 934 00:52:50,160 --> 00:52:51,120 I'm the CEO. 935 00:52:51,240 --> 00:52:52,320 [music playing] 936 00:52:52,560 --> 00:52:54,480 Have you closed your former company? 937 00:52:54,600 --> 00:52:57,840 No, FAB BAG is a lab for us. 938 00:52:57,960 --> 00:52:59,680 We are learning a lot. 939 00:52:59,800 --> 00:53:01,520 And Sugar has developed from that. 940 00:53:02,480 --> 00:53:05,080 One more advantage of Fab Bag 941 00:53:05,200 --> 00:53:06,600 is that when we manufacture a product, 942 00:53:06,680 --> 00:53:08,720 we need to produce a minimum order quantity. 943 00:53:08,840 --> 00:53:11,160 It's too high and goes up to 10,000 to 15,000 rupees. 944 00:53:11,280 --> 00:53:14,680 Companies like ours can't block so much working capital. 945 00:53:14,760 --> 00:53:17,640 - Got it. - We may take Rs. 10,000 946 00:53:17,760 --> 00:53:19,880 and give Rs. 9,000 to Fab Bag customers 947 00:53:20,000 --> 00:53:21,120 and save Rs. 1,000 to sell later. 948 00:53:23,760 --> 00:53:25,920 It's strategically important for us. 949 00:53:26,040 --> 00:53:27,280 Why did you name your company SUGAR? 950 00:53:27,360 --> 00:53:28,960 It means 'chini'. 951 00:53:29,280 --> 00:53:30,560 [chuckling] 952 00:53:31,360 --> 00:53:33,840 We thought of a different name for our brand in the beginning. 953 00:53:33,960 --> 00:53:36,440 The name was Kickass Cosmetics. 954 00:53:36,640 --> 00:53:38,200 [laughing] 955 00:53:38,600 --> 00:53:41,360 Aman, five names were shortlisted. 956 00:53:41,480 --> 00:53:44,680 Stoked, Kickass, Fabulicious and Sugar. 957 00:53:44,840 --> 00:53:46,000 [ethereal music] 958 00:53:46,120 --> 00:53:47,120 It seemed young, 959 00:53:47,240 --> 00:53:49,200 it gives energy and pepper. 960 00:53:49,400 --> 00:53:50,760 When we conducted polls, 961 00:53:50,880 --> 00:53:52,440 we got some important feedback. 962 00:53:52,560 --> 00:53:53,880 Their feedback was, 963 00:53:54,000 --> 00:53:56,920 "It seems like we have heard this brand name before." 964 00:53:57,240 --> 00:53:58,400 [upbeat music] 965 00:53:59,840 --> 00:54:01,880 That was very important for us 966 00:54:02,000 --> 00:54:03,400 because recalling a brand 967 00:54:03,520 --> 00:54:04,600 - is super tough. - Very nice. 968 00:54:04,680 --> 00:54:06,720 So we decided to go with SUGAR. 969 00:54:06,880 --> 00:54:08,080 [sweeping music] 970 00:54:08,360 --> 00:54:11,440 - Did you bring some gifts for us and our wives? - Yes, of course! 971 00:54:11,640 --> 00:54:12,880 Please give us. 972 00:54:13,840 --> 00:54:15,440 Aman, it's for you. 973 00:54:17,520 --> 00:54:20,880 Namita, you are wearing beautiful pink lipstick 974 00:54:21,080 --> 00:54:22,920 but I'm giving you our company's nude lipstick. 975 00:54:23,000 --> 00:54:24,400 It is ranked 976 00:54:24,520 --> 00:54:26,320 as one of the top ten lipsticks. 977 00:54:26,600 --> 00:54:27,880 [motivational music] 978 00:54:29,960 --> 00:54:31,240 Wonderful. The packaging is good. 979 00:54:31,320 --> 00:54:32,920 Thank you! Peyush... 980 00:54:34,000 --> 00:54:35,440 [motivational music] 981 00:54:35,680 --> 00:54:37,640 I love this! 982 00:54:37,760 --> 00:54:39,160 You look gorgeous! 983 00:54:39,280 --> 00:54:41,480 I don't wear light colours usually. 984 00:54:41,600 --> 00:54:42,760 Just look at this. 985 00:54:42,880 --> 00:54:44,600 It's a brilliant product. 986 00:54:44,880 --> 00:54:46,000 Thank you! 987 00:54:47,160 --> 00:54:48,400 Please share your sales figures. 988 00:54:48,480 --> 00:54:50,000 This year, 989 00:54:50,120 --> 00:54:52,400 we will earn a net revenue of Rs. 8 crores. 990 00:54:52,600 --> 00:54:53,480 Wow! 991 00:55:03,720 --> 00:55:05,560 because both of them are related to each other. 992 00:55:06,640 --> 00:55:07,840 What's your margin? 993 00:55:08,160 --> 00:55:10,840 The gross margin for SUGAR is 65% 994 00:55:10,960 --> 00:55:13,560 and it could reach 70% at the current scale. 995 00:55:13,680 --> 00:55:15,040 What is the ticket size? 996 00:55:15,160 --> 00:55:17,680 For SUGAR, this lipstick costs Rs. 800 997 00:55:17,800 --> 00:55:19,840 and the kohl pencil costs Rs. 400. 998 00:55:19,960 --> 00:55:21,200 What is your average ticket size? 999 00:55:21,280 --> 00:55:23,120 Our average order value is Rs. 1,100 1000 00:55:38,640 --> 00:55:39,880 - Yes. - Who gave it? 1001 00:55:40,080 --> 00:55:42,000 India Quotient. 1002 00:55:42,200 --> 00:55:43,160 At what valuation? 1003 00:55:52,240 --> 00:55:53,840 How could you jump the gun and ask for a valuation of Rs. 50 crores? 1004 00:55:53,920 --> 00:55:55,560 [dramatic music] 1005 00:55:55,760 --> 00:55:58,320 It's so risky as the margin is just 5%. 1006 00:55:58,440 --> 00:56:00,280 You made sales of Rs. 75 lakhs 1007 00:56:00,400 --> 00:56:01,920 and Rs. 9 crores annually. 1008 00:56:02,040 --> 00:56:03,720 Is your business growing or you came here to while away time? 1009 00:56:03,800 --> 00:56:05,720 - Anupam, let me tell you two things. - Go on. 1010 00:56:05,840 --> 00:56:07,800 Firstly, the beauty industry's 1011 00:56:07,920 --> 00:56:10,440 CAGR for the last 1012 00:56:17,680 --> 00:56:19,440 Anupam, our growth rate... 1013 00:56:19,560 --> 00:56:21,520 Last year, our revenue was Rs. 3 crores 1014 00:56:21,640 --> 00:56:23,080 and before that we earned Rs. 1.5 crores. 1015 00:56:23,160 --> 00:56:24,400 Our revenue is doubling every year. 1016 00:56:24,480 --> 00:56:26,240 No. I think there is something fishy. 1017 00:56:26,360 --> 00:56:28,400 There is something wrong. 1018 00:56:28,600 --> 00:56:30,160 [suspenseful music] 1019 00:56:30,920 --> 00:56:32,720 Your valuation was Rs. 15 crores. 1020 00:56:32,960 --> 00:56:34,600 Did you meet the investors after that? 1021 00:56:34,920 --> 00:56:37,680 Sir, we raised the round at Rs. 15 crores valuation in 2013. 1022 00:56:37,800 --> 00:56:39,440 Didn't you raise funds after that? 1023 00:56:39,560 --> 00:56:41,360 - No. - We tried. 1024 00:56:41,480 --> 00:56:43,520 What happened? Why were you rejected by them? 1025 00:56:43,760 --> 00:56:45,320 [dramatic music] 1026 00:56:45,440 --> 00:56:46,920 The venture capitalists say 1027 00:56:47,040 --> 00:56:49,600 that the e-commerce market is too small in India right now. 1028 00:56:49,720 --> 00:56:52,960 Building a brand is an expensive fare 1029 00:56:53,080 --> 00:56:57,040 and big FMCG companies are ruling the market. 1030 00:56:57,200 --> 00:56:59,040 "So you can't compete." 1031 00:56:59,160 --> 00:57:04,080 Secondly, a husband-wife team faces resistance. 1032 00:57:04,200 --> 00:57:05,760 That's the reason, I came to Shark Tank. 1033 00:57:05,840 --> 00:57:08,080 Actually, there is a relationship risk. 1034 00:57:08,200 --> 00:57:09,440 [dramatic music] 1035 00:57:09,560 --> 00:57:11,400 If you have disagreements, we will be done for. 1036 00:57:12,600 --> 00:57:15,120 Cofounders can have disagreements. 1037 00:57:15,240 --> 00:57:17,080 - That's right. - We are a great team 1038 00:57:17,200 --> 00:57:19,680 - because we have complementary skill sets. - Good point. 1039 00:57:20,760 --> 00:57:23,600 We respect each other's skill sets. 1040 00:57:25,680 --> 00:57:29,400 My offer is three times as per the next year's multiple. 1041 00:57:30,040 --> 00:57:31,920 You are breaking all stereotypes. 1042 00:57:32,040 --> 00:57:33,280 I believe 1043 00:57:33,400 --> 00:57:37,160 that one day you'd be seated next to us on Shark Tank. 1044 00:57:47,960 --> 00:57:50,920 so I'll give you the valuation you asked for. 1045 00:57:57,720 --> 00:57:59,080 If yes, 1046 00:57:59,200 --> 00:58:00,520 you may accept her offer. 1047 00:58:00,840 --> 00:58:02,720 [suspenseful music] 1048 00:58:03,040 --> 00:58:06,120 Anupam and Namita, thank you so much for the offer. 1049 00:58:06,240 --> 00:58:08,120 Ours is a small brand. 1050 00:58:08,240 --> 00:58:10,640 If we get a five-Shark deal, 1051 00:58:10,760 --> 00:58:11,880 we could use the PR. 1052 00:58:12,200 --> 00:58:13,720 [suspenseful music] 1053 00:58:14,120 --> 00:58:16,480 - Please share your unit economics with me. - Yes, definitely. 1054 00:58:16,560 --> 00:58:18,520 In your order value of Rs. 1,100, 1055 00:58:18,760 --> 00:58:20,720 what are your expenses? And how much do you save? 1056 00:58:20,840 --> 00:58:21,960 [sweeping music] 1057 00:59:55,640 --> 00:59:57,120 [tense music] 1058 00:59:57,400 --> 00:59:59,840 We are left with Rs. 30 lakhs. 1059 00:59:59,960 --> 01:00:01,960 Oh my God! What is your burn rate? 1060 01:00:02,080 --> 01:00:03,760 We aren't burning cash. We are profitable. 1061 01:00:03,880 --> 01:00:05,480 - No. Burn... - We need funding 1062 01:00:05,600 --> 01:00:07,600 - for inventory. - You mentioned burn. 1063 01:00:07,720 --> 01:00:08,720 5% profit. 1064 01:00:08,840 --> 01:00:10,440 - We have a profit of 5%. - Aman, 1065 01:00:10,560 --> 01:00:11,840 - we aren't burning cash. - He has a problem. 1066 01:00:11,920 --> 01:00:14,920 He doesn't listen and reacts. Later, he backtracks from his statement. 1067 01:00:15,120 --> 01:00:17,480 We are profiting on paper. 1068 01:00:17,880 --> 01:00:19,000 It's on paper 1069 01:00:19,160 --> 01:00:20,960 but the demand... 1070 01:00:21,080 --> 01:00:23,080 I got the point. Let me share my story with you. 1071 01:00:23,200 --> 01:00:24,480 I think it's relatable. 1072 01:00:24,600 --> 01:00:25,440 Yes, please. 1073 01:00:25,560 --> 01:00:26,680 When we started out, 1074 01:00:26,800 --> 01:00:30,200 people said the same thing, "online brand can't grow much". 1075 01:00:30,520 --> 01:00:33,280 And many wise people like him discouraged me. 1076 01:00:33,600 --> 01:00:34,800 I won't discourage you. 1077 01:00:34,920 --> 01:00:35,800 Alright? 1078 01:00:36,000 --> 01:00:39,200 You need online e-commerce marketplaces. 1079 01:00:39,440 --> 01:00:42,920 And I'm the king of branding. 1080 01:00:43,240 --> 01:00:44,680 [suspenseful music] 1081 01:00:44,920 --> 01:00:46,040 I liked you. 1082 01:00:46,560 --> 01:00:48,160 You aren't so talented. 1083 01:00:48,600 --> 01:00:50,000 I will work on the feedback. 1084 01:00:50,120 --> 01:00:52,120 We are discussing businesses of 2016. 1085 01:00:52,240 --> 01:00:54,240 What brand did he launch? 1086 01:00:54,360 --> 01:00:56,840 BoAt launched recently in the competitive market. 1087 01:00:57,040 --> 01:00:57,920 [adventurous music] 1088 01:00:58,040 --> 01:00:59,760 Here is the offer. 1089 01:01:00,040 --> 01:01:01,240 [dramatic music] 1090 01:01:02,000 --> 01:01:03,280 I'm giving you 1091 01:01:10,280 --> 01:01:12,120 Um... 1092 01:01:13,880 --> 01:01:15,520 You must ask us if we are ready to take him in. 1093 01:01:15,600 --> 01:01:16,960 [laughing] 1094 01:01:17,480 --> 01:01:18,600 Aman, I'm ready. 1095 01:01:18,720 --> 01:01:21,240 I want to join Namita and not him. 1096 01:01:21,440 --> 01:01:22,480 [laughing] 1097 01:01:26,600 --> 01:01:28,120 My offer is 1098 01:01:28,240 --> 01:01:29,840 Rs. 5 crores for 5% equity. 1099 01:01:42,240 --> 01:01:43,720 [dramatic music] 1100 01:02:12,360 --> 01:02:14,000 'In today's Shark Xperience segment, ' 1101 01:02:14,160 --> 01:02:15,720 'Vishakha from Korba' 1102 01:02:15,960 --> 01:02:18,080 'has a question for all the Sharks.' 1103 01:02:18,320 --> 01:02:20,560 'What kind of a relationship' 1104 01:02:20,720 --> 01:02:22,160 'do you share with your co-Sharks?' 1105 01:02:22,280 --> 01:02:24,600 I have a good relationship with all the Sharks. 1106 01:02:24,720 --> 01:02:27,280 Sometimes we fight over a good deal. 1107 01:02:27,400 --> 01:02:30,960 We go out together, gossip, share our experiences and learn. 1108 01:02:31,160 --> 01:02:32,400 Peyush is a nice boy. 1109 01:02:32,520 --> 01:02:33,880 We two are like friends. 1110 01:02:34,000 --> 01:02:35,880 We made 28 offers together. 1111 01:02:36,000 --> 01:02:39,000 Out of which 24 deals were closed. 1112 01:02:39,320 --> 01:02:41,320 We aren't just Sharks, we two are killer Sharks. 1113 01:02:41,560 --> 01:02:45,880 Anupam and I closed maximum deals together in season 1. 1114 01:02:46,000 --> 01:02:48,120 Surprisingly, even in season 2, 1115 01:02:48,320 --> 01:02:50,160 we closed maximum deals together. 1116 01:02:50,280 --> 01:02:53,920 The chemistry between Anupam and me and also between our teams is great. 1117 01:02:54,040 --> 01:02:57,040 I often coax Vineeta, "you are in Shark Tank." 1118 01:02:57,160 --> 01:02:59,080 I send her notes explaining to her 1119 01:02:59,200 --> 01:03:01,160 to do this and do that. 1120 01:03:01,840 --> 01:03:02,960 But she is all heart. 1121 01:03:03,080 --> 01:03:05,320 She doesn't know how to play games. 1122 01:03:05,760 --> 01:03:07,920 She isn't pretentious. 1123 01:03:08,160 --> 01:03:09,760 And I love her for that. 1124 01:03:09,960 --> 01:03:11,840 Aman is a crook. 1125 01:03:11,960 --> 01:03:13,040 [chuckling] 1126 01:03:13,160 --> 01:03:15,400 He calls himself one so I can't contradict him. 1127 01:03:15,680 --> 01:03:19,440 I think Aman has a fierce competitive spirit. 1128 01:03:19,720 --> 01:03:20,920 His character 1129 01:03:21,400 --> 01:03:22,800 has helped him succeed in business, 1130 01:03:22,880 --> 01:03:24,400 make a brand and be himself. 1131 01:03:24,600 --> 01:03:28,200 Anupam and I have a competitive relationship. 1132 01:03:28,520 --> 01:03:30,040 "Let's battle out" 1133 01:03:30,200 --> 01:03:32,600 "to check who is more capable." 1134 01:03:32,760 --> 01:03:35,600 Amit was a bit scared in the beginning. 1135 01:03:35,720 --> 01:03:38,360 But as Shark Tank progressed, 1136 01:03:38,480 --> 01:03:40,560 he changed gradually. 1137 01:03:40,680 --> 01:03:42,280 He grew. 1138 01:03:42,400 --> 01:03:43,560 I enjoyed doing the show with him. 1139 01:03:43,640 --> 01:03:46,480 I was a new Shark in the beginning 1140 01:03:46,680 --> 01:03:48,640 and I needed time 1141 01:03:49,000 --> 01:03:50,400 to understand 1142 01:03:50,520 --> 01:03:52,440 the dynamics of the show. 1143 01:03:52,560 --> 01:03:54,640 How do people interact with each other? 1144 01:03:54,760 --> 01:03:56,720 When I understood the game, 1145 01:03:56,840 --> 01:03:58,560 I employed the attacking strategy. 1146 01:03:58,720 --> 01:04:01,400 My relationship 1147 01:04:01,520 --> 01:04:03,720 with Anupam is such 1148 01:04:03,880 --> 01:04:07,000 that he keeps preaching to me. 1149 01:04:07,240 --> 01:04:08,800 I get bored of him during pitches. 1150 01:04:40,080 --> 01:04:41,280 'Please stop it." 1151 01:04:41,400 --> 01:04:43,680 And that was the end of Shark Tank India season 2. 1152 01:04:43,760 --> 01:04:46,600 Co-presented by ACKO. Payments partner, Cashfree payments. 1153 01:04:46,720 --> 01:04:49,400 Ideas partner, Smallcase. Co-powered by PokerBaazi. 1154 01:04:49,520 --> 01:04:52,240 Money partner, Fi Money. Online food partner, Eatfit. 1155 01:04:52,320 --> 01:04:53,720 Eyewear partner, Lenskart. 1156 01:04:54,080 --> 01:04:55,920 I'm going to launch a start-up 1157 01:04:56,040 --> 01:04:57,600 as I'm motivated. 1158 01:04:57,680 --> 01:05:00,680 I just need to crack an idea. Everything else is sorted. 1159 01:05:00,760 --> 01:05:02,520 And as Bollywood said, "remember me in your prayers." 1160 01:05:02,600 --> 01:05:04,360 This is me, Rahul Dua, the host of season 2 1161 01:05:04,440 --> 01:05:05,720 signing off. Take care.