1 00:00:10,000 --> 00:00:11,960 [music playing] 2 00:00:16,040 --> 00:00:19,680 'Here to make the already strong panel of Shark Tank India stronger' 3 00:00:19,840 --> 00:00:20,960 'is Deepinder Goyal,' 4 00:00:21,120 --> 00:00:23,520 'founder and CEO of Zomato and Blinkit.' 5 00:00:28,200 --> 00:00:31,160 'A consultant who quit his job' 6 00:00:31,240 --> 00:00:33,720 'to establish a billion-dollar food rating business.' 7 00:00:33,800 --> 00:00:36,120 'Deepinder Goyal got the idea of a start-up' 8 00:00:36,200 --> 00:00:39,200 'while working for Bain & Company when he noticed' 9 00:00:39,360 --> 00:00:42,520 'that his colleagues spent a lot of time ordering food' 10 00:00:42,600 --> 00:00:44,120 'and going through menus.' 11 00:00:44,280 --> 00:00:46,600 'That's how Zomato was born.' 12 00:00:46,760 --> 00:00:48,800 'It wasn't an overnight success.' 13 00:00:48,880 --> 00:00:52,800 'Six years of hard work went into growing this company.' 14 00:00:54,840 --> 00:00:58,040 'I am from Muktsar, a small town in Punjab.' 15 00:01:00,120 --> 00:01:02,160 'My dad used to teach at a school.' 16 00:01:02,240 --> 00:01:04,440 'My mom also used to teach at a college.' 17 00:01:04,920 --> 00:01:09,560 If I dropped a spoon while we were having dinner, 18 00:01:09,920 --> 00:01:11,760 Dad used to scold me. 19 00:01:12,080 --> 00:01:14,960 He'd say, "If you can't do such a simple thing," 20 00:01:15,040 --> 00:01:16,440 "what will you do in life?" 21 00:01:16,560 --> 00:01:18,320 I think that kind of stuck with me. 22 00:01:19,880 --> 00:01:22,800 The focus and ambition were to get into IIT. 23 00:01:22,920 --> 00:01:25,640 "I want to clear the IIT exam and get into engineering." 24 00:01:27,880 --> 00:01:30,040 By the third or fourth year, he had decided, 25 00:01:30,080 --> 00:01:31,520 "I want to set up something on my own." 26 00:01:31,600 --> 00:01:32,840 "I want to do a business of my own." 27 00:01:34,480 --> 00:01:36,560 'When I started Zomato, I didn't think' 28 00:01:36,680 --> 00:01:38,280 'it would be such a big company.' 29 00:01:39,760 --> 00:01:41,520 'All of this has been an accident.' 30 00:01:43,080 --> 00:01:44,120 I thought that 31 00:01:44,200 --> 00:01:48,480 I'd have to work less if I didn't have a job 32 00:01:48,560 --> 00:01:50,160 and did something of my own, 33 00:01:50,240 --> 00:01:52,160 but that didn't turn out to be true. 34 00:01:53,520 --> 00:01:56,440 I made the first version of Zomato by myself. 35 00:01:56,520 --> 00:01:59,280 Later, I found people to work with me. 36 00:02:17,760 --> 00:02:18,960 [horn honking] 37 00:02:39,440 --> 00:02:42,040 I think if the organisation does well, 38 00:02:42,120 --> 00:02:43,680 people will be assured 39 00:02:43,760 --> 00:02:46,680 that they are bound to prosper if the company does well. 40 00:03:45,680 --> 00:03:47,240 [theme music playing] 41 00:04:04,800 --> 00:04:06,160 [music fades] 42 00:04:08,000 --> 00:04:08,880 Hello, Sharks. 43 00:04:16,160 --> 00:04:20,240 When I was 13, I was diagnosed with PCOS 44 00:04:20,320 --> 00:04:22,720 and that deprived me of my favourite hobby. 45 00:04:23,360 --> 00:04:25,520 If healthy food isn't tasty, 46 00:04:25,600 --> 00:04:28,240 what would we Punjabis do? 47 00:04:28,320 --> 00:04:32,360 So, I experimented with making healthy snacks at home. 48 00:04:33,160 --> 00:04:37,320 I replaced refined flour with millet in these snacks. 49 00:04:37,480 --> 00:04:41,600 I said bye to white sugar and hi to natural sweeteners. 50 00:04:41,880 --> 00:04:44,360 And in the process of cooking and savouring them, 51 00:04:44,440 --> 00:04:47,040 my snacks became "oh, so fly" 52 00:04:47,120 --> 00:04:49,520 that, Sharks, you should definitely give them a try! 53 00:04:49,600 --> 00:04:50,600 [laughter] 54 00:04:50,720 --> 00:04:53,840 That's how The Cinnamon Kitchen started. 55 00:05:23,040 --> 00:05:24,200 Our vision is 56 00:05:24,280 --> 00:05:27,560 to make healthy food a norm rather than an exception. 57 00:05:27,680 --> 00:05:29,480 So, my ask is 58 00:05:38,160 --> 00:05:39,680 because food is life! 59 00:05:39,760 --> 00:05:41,000 [Sharks chuckle] 60 00:05:53,160 --> 00:05:55,960 - Priyasha, welcome to Shark Tank Season 3. - Thank you, Aman. 61 00:05:56,120 --> 00:05:58,760 - What have you got there? - What's there to eat? 62 00:05:58,840 --> 00:06:00,760 - You hog! - What's on the menu? 63 00:06:00,920 --> 00:06:02,480 [Sharks laugh] 64 00:06:05,200 --> 00:06:06,640 [light-hearted music playing] 65 00:06:11,280 --> 00:06:12,360 That's for you, Aman. 66 00:06:38,680 --> 00:06:40,960 - Pretty good. - The apple pie is good. 67 00:06:41,120 --> 00:06:42,840 - Very yum! - Thank you. 68 00:06:44,040 --> 00:06:46,480 - Deepinder, how did you like the Keto Cake? - Very nice. 69 00:06:46,560 --> 00:06:48,440 Aman, you're about to try the fudge. 70 00:06:48,560 --> 00:06:52,360 It is made from dates, almond butter and chocolate. 71 00:06:56,360 --> 00:06:58,240 - Really exceptional. - Thank you so much. 72 00:06:58,360 --> 00:06:59,640 What's the sweetener? 73 00:06:59,800 --> 00:07:01,680 - In the Keto Cake? - Yes. 74 00:07:01,760 --> 00:07:03,880 - It's stevia and xylitol. - Got it. 75 00:07:08,360 --> 00:07:10,920 it gives the impression that no artificial sweeteners are used. 76 00:07:11,000 --> 00:07:12,480 We want to give variety. 77 00:07:12,640 --> 00:07:15,040 Basically, most of our products 78 00:07:15,160 --> 00:07:17,160 are made with dates and natural sweeteners. 79 00:07:17,440 --> 00:07:21,680 People with type 1 diabetes cannot even consume dates. 80 00:07:21,760 --> 00:07:22,680 Exactly. 81 00:07:23,120 --> 00:07:25,280 Have you ever made packaged chocolates too? 82 00:07:25,400 --> 00:07:27,920 Yes, we do have them on the website Cinnamon.kitchen. 83 00:07:28,800 --> 00:07:30,240 Is this a home kitchen? 84 00:07:30,360 --> 00:07:32,840 We have a factory in Noida Sector 63. 85 00:07:32,920 --> 00:07:35,000 It's a 2500-square-foot factory. 86 00:07:35,080 --> 00:07:36,960 And you sell only online. 87 00:07:52,120 --> 00:07:54,000 - Marketing? - Yes, in advertising. 88 00:07:54,080 --> 00:07:56,680 I worked on brands like Parle, Eureka Forbes, 89 00:07:56,800 --> 00:07:59,960 Switzerland Tourism, Wildcraft and others. 90 00:08:00,080 --> 00:08:04,000 - You have packaged desserts... - Yes. 91 00:08:04,040 --> 00:08:07,360 And you also have a bakery which is Make-To-Order I think. 92 00:08:08,200 --> 00:08:09,840 We have two segments. 93 00:08:22,800 --> 00:08:25,240 I want to be a one-stop shop for all items. 94 00:08:25,280 --> 00:08:27,760 In D2C, the major apprehension of consumers is 95 00:08:27,880 --> 00:08:29,200 that if I'm getting it in one place, 96 00:08:29,280 --> 00:08:31,240 why should I go on a website and buy it separately? 97 00:08:31,320 --> 00:08:32,600 How many products do you have? 98 00:08:32,680 --> 00:08:35,160 We have 45 SKUs as of now. 99 00:08:46,480 --> 00:08:48,200 Given the ingredients we are using, 100 00:08:48,280 --> 00:08:51,080 I believe the pricing is quite justified. 101 00:08:51,160 --> 00:08:52,040 Having said that, 102 00:08:52,120 --> 00:08:55,120 we recently launched the single fudge on Blinkit. 103 00:08:55,280 --> 00:08:57,080 We got a positive response 104 00:08:57,160 --> 00:08:58,920 because that's one less entry point 105 00:08:59,000 --> 00:09:00,720 - for customers to try the product. - Yes, I agree. 106 00:09:00,840 --> 00:09:02,880 It was good of you to put the QR code here. 107 00:09:02,960 --> 00:09:04,120 They can order this on Blinkit, 108 00:09:04,200 --> 00:09:06,200 and later, directly order from your website. 109 00:09:06,320 --> 00:09:07,360 - Sure, yes. - Very smart. 110 00:09:07,520 --> 00:09:08,360 Thank you. 111 00:09:08,440 --> 00:09:10,800 - I have here the Vegan Nutella. - Yes. 112 00:09:19,680 --> 00:09:21,160 Actually, during transit... 113 00:09:21,240 --> 00:09:22,800 - No, not in transit. - The other one too. 114 00:09:22,880 --> 00:09:24,120 - They're all poorly done. - Okay. 115 00:09:24,200 --> 00:09:26,200 - You're from advertising. - Yes. 116 00:09:26,200 --> 00:09:27,680 Such a simple thing like readability... 117 00:09:27,760 --> 00:09:29,360 White font on a light background! 118 00:09:29,480 --> 00:09:30,560 - Hmm. - It's just not readable. 119 00:09:32,720 --> 00:09:34,920 You're building a business of packaged foods 120 00:09:35,000 --> 00:09:36,400 without an adequate 121 00:09:36,680 --> 00:09:40,560 - and good level of branding, packaging and pricing. - Yes. 122 00:09:40,640 --> 00:09:43,120 - It's quite niche. A tiny bottle for Rs 550. - I agree. 123 00:09:43,400 --> 00:09:45,200 - So... - I feel that, 124 00:09:56,880 --> 00:09:59,480 The reason for the bakery is 125 00:09:59,600 --> 00:10:03,880 that it increases our customer repeat percentage. 126 00:10:03,960 --> 00:10:07,040 Secondly, it also increases my average order value. 127 00:10:32,280 --> 00:10:35,040 Give us your sales figures and the company details. 128 00:10:36,040 --> 00:10:39,920 I started around the end of 2019 in September. 129 00:10:57,640 --> 00:10:59,240 - How did you achieve 6x growth? - Tell us how. 130 00:11:00,320 --> 00:11:03,960 We started performance marketing around six months ago. 131 00:11:04,080 --> 00:11:06,200 - Did you raise funds six months ago? - No. 132 00:11:10,520 --> 00:11:12,520 I bought an oven, 133 00:11:12,760 --> 00:11:16,360 a blender and some baking trays. 134 00:11:16,600 --> 00:11:18,920 That exhausted my savings. 135 00:11:19,840 --> 00:11:22,840 I told a friend to design a logo for me. 136 00:11:23,000 --> 00:11:25,480 He made a logo in the shape of a circle. 137 00:11:27,280 --> 00:11:30,840 When we printed them, they came out in the shape of a square. 138 00:11:30,840 --> 00:11:32,680 I asked the vendor to cut them into circles. 139 00:11:33,080 --> 00:11:35,760 I was told a die would be needed to cut it into circles 140 00:11:35,840 --> 00:11:37,600 and the cost of the die was Rs. 2000. 141 00:11:37,720 --> 00:11:39,280 I didn't have Rs. 2000. 142 00:11:39,400 --> 00:11:40,600 So, for the first six months, 143 00:11:40,600 --> 00:11:43,440 - I cut the logos into circles by hand. - Wow. 144 00:11:43,520 --> 00:11:45,240 - Wow! That's an amazing story. - Amazing. 145 00:11:45,240 --> 00:11:46,040 Thank you. 146 00:11:54,840 --> 00:11:58,080 - It was Rs. 82 lakhs last year... - It's magic, Anupam. It's magic. 147 00:11:58,480 --> 00:12:00,160 What are this year's sales so far? 148 00:12:13,840 --> 00:12:15,480 It's 25 and 75. 149 00:12:27,240 --> 00:12:29,640 I feel that this is a boutique... 150 00:12:29,760 --> 00:12:31,360 - Aman, can I say something? - Hmm. 151 00:12:33,120 --> 00:12:35,920 Our plan is to have a mass appeal. 152 00:12:46,800 --> 00:12:50,840 If you see, the year-on-year growth is 20% 153 00:12:51,120 --> 00:12:54,280 and the snacking market itself is growing at 10%. 154 00:12:54,400 --> 00:12:57,400 You can see it has twice the growth. 155 00:12:57,480 --> 00:12:58,800 - Okay, so... - And since it's healthy, 156 00:12:58,880 --> 00:13:01,360 NutriChoice and others that are not healthy also enter the market 157 00:13:01,480 --> 00:13:03,880 because the consumers don't read the ingredients. 158 00:13:04,960 --> 00:13:06,840 There is more growth in premium. 159 00:13:07,040 --> 00:13:08,200 The base is too small though. 160 00:13:08,280 --> 00:13:10,000 If you play a ten-year-out game, 161 00:13:10,600 --> 00:13:13,680 I think she can grow 2x or 3x year on year. 162 00:13:15,160 --> 00:13:16,480 Coming to the question 163 00:13:16,560 --> 00:13:19,840 that she is doing fresh bakes as well as grocery. 164 00:13:20,040 --> 00:13:24,560 My insight is that if you operate in premium groceries 165 00:13:25,000 --> 00:13:28,400 and own a small Made To Order business alongside, 166 00:13:28,520 --> 00:13:29,640 it lends authenticity. 167 00:13:29,720 --> 00:13:32,920 Those people's packaged business doesn't grow as much. 168 00:13:33,040 --> 00:13:34,240 Has anyone's? 169 00:13:35,640 --> 00:13:36,760 I think there's always a first. 170 00:13:36,880 --> 00:13:39,080 I will do it, I promise. 171 00:13:40,560 --> 00:13:42,920 - I've made my decision. - Yes. 172 00:13:49,360 --> 00:13:51,320 And you're already going to be Rs. 6 crores. 173 00:13:51,400 --> 00:13:54,160 As an investor, I agree with Vineeta 174 00:13:54,240 --> 00:13:56,720 that it's a smaller market even if it's growing. 175 00:13:58,120 --> 00:14:01,280 There will be many players out there as aspirational as you. 176 00:14:01,360 --> 00:14:02,840 Namita, may I say something? 177 00:14:03,800 --> 00:14:06,760 I don't think Priyasha will let anyone back out. 178 00:14:08,520 --> 00:14:10,200 - Just answer one question. - Yes. 179 00:14:10,280 --> 00:14:12,400 How will Namita get an exit? 180 00:14:13,440 --> 00:14:16,240 If we increase the distribution and start exporting... 181 00:14:16,320 --> 00:14:18,880 They'll be available at the airports. We'll work on the shelf life. 182 00:14:19,000 --> 00:14:20,520 The brand has unlimited potential. 183 00:14:20,600 --> 00:14:23,040 As the brand grows, you know, 184 00:14:23,160 --> 00:14:25,640 - you will get a good exit. - [Sharks laugh] 185 00:14:25,720 --> 00:14:27,040 - She's so sweet! - You know how you are! 186 00:14:27,120 --> 00:14:29,600 You remind me of this dialogue from a Hindi movie. 187 00:14:29,680 --> 00:14:32,480 - "I don't take no for an answer." - 'Guru' is the movie. 188 00:14:32,680 --> 00:14:33,760 You're doing the same thing. 189 00:14:33,840 --> 00:14:36,480 The moment someone makes their decision, she tells them, 190 00:14:36,560 --> 00:14:37,600 "Listen to me." 191 00:14:37,720 --> 00:14:39,560 - I can't let her go. - I truly believe in it. 192 00:14:39,680 --> 00:14:41,600 My credit score is really good. 193 00:14:41,680 --> 00:14:43,360 - So, I don't lack it. - [Sharks laugh] 194 00:14:44,800 --> 00:14:47,560 The most unique pitch ever on Shark Tank. 195 00:14:47,640 --> 00:14:50,160 - "My credit score is really good." - What's your credit score? 196 00:14:50,240 --> 00:14:51,040 838. 197 00:14:51,160 --> 00:14:52,360 - 838. - 838! 198 00:14:52,480 --> 00:14:55,320 - I always repay my debts. I promise. - Wow! 199 00:14:55,720 --> 00:14:57,440 - I promise. - [laughs] 200 00:14:58,000 --> 00:14:59,760 I like your spirit, 201 00:15:00,240 --> 00:15:03,080 but in my opinion, there are too many players. 202 00:15:03,400 --> 00:15:06,120 For that reason, unfortunately, I am out. 203 00:15:08,640 --> 00:15:10,600 The spirit you possess, 204 00:15:10,680 --> 00:15:14,320 the never say die and I will prove my mettle, 205 00:15:14,840 --> 00:15:15,840 is crazy! 206 00:15:17,480 --> 00:15:20,480 I think I can help you. 207 00:15:20,600 --> 00:15:22,040 Okay! I'm listening! 208 00:15:22,200 --> 00:15:24,720 My offer to you is Rs. 60 lakhs for 10% equity 209 00:15:58,320 --> 00:16:00,040 Get my number from the Blinkit team. 210 00:16:00,120 --> 00:16:01,000 - They'll give it to you. - They won't. 211 00:16:01,120 --> 00:16:02,120 They will. 212 00:16:02,280 --> 00:16:04,040 You won't get preference on any platform. 213 00:16:04,120 --> 00:16:05,480 I won't influence the platforms 214 00:16:05,560 --> 00:16:07,200 - to do you any favours. - Of course! No. 215 00:16:07,280 --> 00:16:08,360 He's out, Priyasha. 216 00:16:08,480 --> 00:16:10,920 - Out. - Let's move on. Don't drag it out. 217 00:16:11,040 --> 00:16:12,040 We're still here. 218 00:16:14,080 --> 00:16:16,200 Do you want one Shark or two? 219 00:16:18,000 --> 00:16:19,680 I want all of you. 220 00:16:19,800 --> 00:16:22,280 That's not possible. Three are out. Talk to us. 221 00:16:25,760 --> 00:16:27,280 How three? Are you out, Aman? 222 00:16:27,600 --> 00:16:28,960 Oh, you're not out. Oh, okay. 223 00:16:29,040 --> 00:16:30,480 I thought he was. 224 00:16:32,120 --> 00:16:34,400 I was, but she brought me back with the credit score. 225 00:16:34,520 --> 00:16:36,160 [hysterical laughter] 226 00:16:36,520 --> 00:16:38,040 The best pitch ever! 227 00:16:38,160 --> 00:16:39,960 You're really crazy. [laughs] 228 00:16:40,120 --> 00:16:42,080 I'm not lying. I can show it to you. 229 00:16:42,160 --> 00:16:43,240 - I'm not lying! - I... 230 00:16:43,320 --> 00:16:45,840 - I trust you. - Okay. 231 00:16:52,200 --> 00:16:53,560 - All right? - It is. 232 00:16:53,640 --> 00:16:56,720 - I am personally very interested in this market. - Thank you so much. 233 00:16:56,840 --> 00:17:00,480 - Thank you. That means a lot. - If we position and package it well 234 00:17:01,360 --> 00:17:03,240 then I think there's an opportunity. 235 00:17:03,800 --> 00:17:05,440 If Vineeta's okay, I'll join her. 236 00:17:16,640 --> 00:17:18,560 I want to make an individual offer. 237 00:17:20,680 --> 00:17:23,320 I don't want much of your equity. 238 00:17:23,440 --> 00:17:26,720 Since your credit score is good, I could give you a big debt. 239 00:17:26,880 --> 00:17:28,640 - [laughter] - Credit score! 240 00:17:29,360 --> 00:17:32,760 I know that you repay people. Correct? 241 00:17:34,200 --> 00:17:36,960 I will give you Rs. 10 lakhs in equity... 242 00:17:40,280 --> 00:17:43,120 At 2% in your company 243 00:17:43,320 --> 00:17:45,720 and the rest Rs. 50 lakhs debt 244 00:17:59,280 --> 00:18:00,440 [laughter] 245 00:18:00,760 --> 00:18:02,360 I'm not lying, it's true. 246 00:18:02,480 --> 00:18:04,520 - You... - [laughter] 247 00:18:05,240 --> 00:18:06,320 What's going on? 248 00:18:06,400 --> 00:18:09,400 - You're something special! - Priyasha, you rock! 249 00:18:09,520 --> 00:18:10,680 - She's a... - Decision. 250 00:18:10,760 --> 00:18:12,560 She's the Shark in the tank! 251 00:18:12,760 --> 00:18:14,960 - Please come and sit. Come on. - [laughter] 252 00:18:15,080 --> 00:18:16,080 - Sit. - No, thank you. 253 00:18:16,160 --> 00:18:19,000 That's very well deserved and yours completely. 254 00:18:19,000 --> 00:18:21,760 - Alright. Lower the interest rate. - No! 255 00:18:21,960 --> 00:18:23,080 Make a decision. 256 00:18:23,160 --> 00:18:24,320 - Look... - Make the decision. 257 00:18:24,440 --> 00:18:27,120 - No need to go out and come back. - Okay. 258 00:18:27,240 --> 00:18:30,640 - Simple. I'll give you 2%... - Don't intimidate me like that! 259 00:18:30,920 --> 00:18:32,720 - Whoa! - I'm... 260 00:18:35,120 --> 00:18:37,680 See, I'm raising funds for the first time. 261 00:18:38,000 --> 00:18:40,360 Please I would really appreciate it.. 262 00:18:42,280 --> 00:18:43,520 Aman, breathe. Breathe. 263 00:18:44,440 --> 00:18:47,800 Keep talking. I have not had so much fun this whole season. 264 00:18:48,640 --> 00:18:49,960 But I still like you. 265 00:18:50,040 --> 00:18:51,880 - "But I still like you!" - I like you too. 266 00:18:52,920 --> 00:18:55,480 - So, let's... Let's just close... - What's going on here? 267 00:18:56,160 --> 00:18:59,320 Let's close the deal at a lower interest rate. 268 00:18:59,400 --> 00:19:02,280 Tell me the interest rate you have been offered. 269 00:19:02,480 --> 00:19:04,040 I'll offer you the same interest rate. 270 00:19:04,160 --> 00:19:06,320 Do you want debt or equity? 271 00:19:08,280 --> 00:19:10,600 My main objective is to get help and guidance 272 00:19:10,760 --> 00:19:13,000 because I am a first-time entrepreneur. 273 00:19:14,280 --> 00:19:18,720 Do you think the one giving you equity will help you more 274 00:19:18,840 --> 00:19:20,920 or the one giving you debt? 275 00:19:21,040 --> 00:19:23,160 - The one giving me equity. - Ooh! 276 00:19:23,400 --> 00:19:24,520 - Deepinder! - Okay. 277 00:19:27,240 --> 00:19:29,800 If it is the help you want, say no to debt. 278 00:19:29,920 --> 00:19:32,280 - Agreed. Can you make an equity-only deal? - Right? 279 00:19:33,160 --> 00:19:36,360 I think you shouldn't give more equity. 280 00:19:36,440 --> 00:19:38,400 It's her first round. Why not? 281 00:19:40,240 --> 00:19:41,440 You own all of it right now. 282 00:19:47,640 --> 00:19:49,520 If you take any longer, the offer stands revoked. 283 00:19:50,480 --> 00:19:52,120 - I'd like to counter. - Go on. 284 00:19:52,200 --> 00:19:55,200 Aman, I want to take an equity deal at this stage. 285 00:19:55,280 --> 00:19:56,920 How much equity and at what valuation? 286 00:20:08,640 --> 00:20:12,440 Ask them to double the amount. Raise 1.2 for 10. 287 00:20:13,640 --> 00:20:14,720 That would be very nice. 288 00:20:14,840 --> 00:20:16,160 - I will need more money. - Pitch it. 289 00:20:16,240 --> 00:20:17,720 - Pitch it. - Rs. 1.2 for 10. 290 00:20:28,640 --> 00:20:30,720 Ma'am, I was giving you Rs. 10 lakhs. 291 00:20:30,800 --> 00:20:32,600 You brought me to Rs. 60 lakhs. 292 00:20:32,680 --> 00:20:35,680 Don't complicate it further. You asked for 4%, I gave you 5. 293 00:20:38,120 --> 00:20:40,400 - What are you trying to maximise? What are you trying to do? - Yes. 294 00:20:40,640 --> 00:20:42,560 - I'm trying to maximise the value... - I don't get it. Why are you... 295 00:20:42,640 --> 00:20:45,320 - Are you maximising the value or the valuation? - I'll tell you... 296 00:20:45,520 --> 00:20:48,120 - No. - Shark Tank is not a platform to set valuation. 297 00:20:48,240 --> 00:20:49,640 - I completely agree. - What are you doing? 298 00:20:49,720 --> 00:20:51,120 - I agree. What I'm trying to say... - We... 299 00:20:51,240 --> 00:20:53,960 - We were so impressed, at least I was with you... - Yes. 300 00:20:54,160 --> 00:20:55,600 You're losing direction. 301 00:20:55,720 --> 00:20:57,880 - No.- We've been repeatedly asking you to make a decision. 302 00:20:57,960 --> 00:20:58,800 - Right? - Okay. 303 00:21:00,960 --> 00:21:02,200 [tense music playing] 304 00:21:04,200 --> 00:21:05,400 [music fades] 305 00:21:15,240 --> 00:21:18,120 We enjoyed your mess today. 306 00:21:18,240 --> 00:21:19,440 Congratulations! 307 00:21:19,720 --> 00:21:21,520 - We are one. - Thank you. 308 00:21:25,600 --> 00:21:27,560 You had me at credit score. 309 00:21:28,360 --> 00:21:29,000 Thank you so much. 310 00:21:29,080 --> 00:21:31,320 Give my money back with the returns. 311 00:21:32,000 --> 00:21:32,680 [laughing] 312 00:21:32,760 --> 00:21:33,720 - Good luck! - Thank you. 313 00:21:33,800 --> 00:21:35,440 All the best. Thank you for the wonderful food. 314 00:21:35,520 --> 00:21:36,560 [giggling] 315 00:21:36,640 --> 00:21:40,320 This man made me extract 60 lakh instead of 10. 316 00:21:40,400 --> 00:21:42,800 - She's here to take your number. - Write it here. 317 00:21:43,600 --> 00:21:45,240 [laughing] 318 00:21:46,320 --> 00:21:49,440 - It was great. - So fun! 319 00:21:49,520 --> 00:21:50,600 - Sharks, that's how you... - Super. 320 00:21:50,720 --> 00:21:52,040 - You're unstoppable. - Crazy. 321 00:21:52,160 --> 00:21:53,680 - Thank you so much. - Most welcome. 322 00:21:53,760 --> 00:21:55,240 - All the best. Bye. - Bye. Thank you! 323 00:21:55,560 --> 00:21:59,720 [music playing] 324 00:22:04,600 --> 00:22:08,000 [music playing] 325 00:23:45,080 --> 00:23:46,360 - Hi, Sharks. - Hello. 326 00:23:46,440 --> 00:23:48,840 It's been 2.5 years since our wedding. 327 00:23:48,920 --> 00:23:52,680 And this guy talks about going to the gym to transform, every day. 328 00:23:52,800 --> 00:23:54,800 But he hasn't been to the gym yet. 329 00:23:55,040 --> 00:23:58,080 Sharks, I promise to get to the gym tomorrow. 330 00:23:58,560 --> 00:24:02,240 Let's find a gym near me. There are many options. 331 00:24:02,440 --> 00:24:04,760 I even saw a gym called 'Six Pack Abs' gym. 332 00:24:04,880 --> 00:24:05,880 I'll enroll there tomorrow. 333 00:24:05,960 --> 00:24:09,600 Just a moment. Why don't you join a premium brand? 334 00:24:09,960 --> 00:24:13,760 Premium brand? I don't have money like the Sharks to afford it. 335 00:24:13,840 --> 00:24:18,160 I'm planning to go to the local neighbourhood gyms, like others. 336 00:24:18,360 --> 00:24:20,760 Local gyms? But those local gyms, 337 00:24:20,880 --> 00:24:23,200 how will you gauge their standards? 338 00:24:23,280 --> 00:24:25,040 Their hygiene level, 339 00:24:25,120 --> 00:24:28,320 whether they have good stuff, a good trainer or not. 340 00:24:28,400 --> 00:24:31,360 An ambience that will motivate you as you're already too lazy. 341 00:24:31,440 --> 00:24:33,400 I have to figure it out there. 342 00:24:33,480 --> 00:24:35,400 Okay, I have a solution. 343 00:24:35,600 --> 00:24:38,760 It can complete your affordability. 344 00:24:38,840 --> 00:24:41,560 And your neighbourhood gym can be a part of it. 345 00:24:41,640 --> 00:24:42,600 What is the solution? 346 00:24:52,720 --> 00:24:55,640 WTF partners with gyms in our neighbourhood. 347 00:24:55,720 --> 00:24:57,000 And rebrands them. 348 00:25:19,640 --> 00:25:21,960 Where we have created WTF app. 349 00:25:22,040 --> 00:25:24,360 And it's your fitness guide too. 350 00:25:24,440 --> 00:25:27,200 Its super-hero is our AI Bot, Fitty. 351 00:25:27,280 --> 00:25:31,800 Fitty monitors end-to-end fitness journey of a WTF user. 352 00:25:44,200 --> 00:25:46,480 to be transformed into WTF gyms. 353 00:25:46,960 --> 00:25:48,280 We're asking for 354 00:26:06,560 --> 00:26:09,920 Anupam has been running his 3000 square feet gym for 2 years. 355 00:26:10,160 --> 00:26:12,440 Anupam's gym has basic stuff like infrastructure, 356 00:26:12,520 --> 00:26:15,520 a few trainers, the gym is making money to keep it running. 357 00:26:15,680 --> 00:26:16,760 Anupam's gym 358 00:26:16,840 --> 00:26:19,680 as per real estate aspect, never reached its threshold. 359 00:26:20,040 --> 00:26:23,800 Anupam doesn't know why there's no retention or renewal at his gym. 360 00:26:23,880 --> 00:26:26,160 WTF approaches Anupam and tells him 361 00:26:26,240 --> 00:26:28,400 that it can operate your gym better. 362 00:26:28,520 --> 00:26:30,720 So WTF signs a 5-year partnership with Anupam 363 00:26:41,280 --> 00:26:43,680 But is this a franchise or a co-ownership? 364 00:26:44,040 --> 00:26:45,240 We're just on profit sharing. 365 00:26:45,320 --> 00:26:48,560 - It's profit-sharing. Okay. - It's Anupam's gym and assets. 366 00:26:48,680 --> 00:26:50,200 We're the operators here. 367 00:26:50,280 --> 00:26:51,920 - Similar to OYO. - Yeah. 368 00:26:52,000 --> 00:26:54,680 So, we checked the existing staff of the gym. 369 00:27:58,120 --> 00:27:59,760 We checked the current membership details. 370 00:27:59,840 --> 00:28:02,400 So, that's where the AI-model comes into play. 371 00:28:02,680 --> 00:28:04,160 So, Fitty, as a model 372 00:28:04,240 --> 00:28:06,480 is made for the end-user. 373 00:28:06,560 --> 00:28:09,400 But it's my console, a baby I built two years back. 374 00:28:09,560 --> 00:28:12,320 Fitty is smart. Just smart. 375 00:28:21,760 --> 00:28:24,000 The membership data of the last two years. 376 00:28:24,120 --> 00:28:25,960 How many people visited. This is all I need. 377 00:28:26,040 --> 00:28:28,960 So, when I fed the data, I learnt about the problem. 378 00:28:29,040 --> 00:28:31,680 The problem is that the ambience was dull. 379 00:28:31,760 --> 00:28:34,520 We turned a dull gym into something vibrant. 380 00:28:34,640 --> 00:28:35,720 I don't get it. 381 00:28:36,680 --> 00:28:39,200 You took the data, fed it to the AI model, 382 00:28:39,320 --> 00:28:42,240 and the AI model told you that the ambience is not fine. 383 00:28:42,320 --> 00:28:43,440 No, I'm just telling you. 384 00:28:43,520 --> 00:28:46,000 The AI model made predictions. 385 00:28:46,080 --> 00:28:48,120 Why do you need AI for that? 386 00:28:49,240 --> 00:28:50,880 No, I'll tell you. So, this is called prediction model. 387 00:28:51,000 --> 00:28:52,640 I have the historical data. 388 00:28:52,760 --> 00:28:55,000 I can only implement prediction modelling when 389 00:28:55,120 --> 00:28:57,280 I pick the old data, 390 00:28:57,360 --> 00:28:59,480 I can only predict the consistency ratio of the gym. 391 00:28:59,560 --> 00:29:01,080 New member versus retention. 392 00:29:01,160 --> 00:29:03,160 Just a moment. If a guy wants to cancel his membership, 393 00:29:03,240 --> 00:29:05,280 and you noticed that it's because of the condition of the gym. 394 00:29:05,400 --> 00:29:06,840 In this, data, modelling, 395 00:29:06,960 --> 00:29:09,480 prediction modelling, I think buzzwords are being used. 396 00:29:09,800 --> 00:29:12,600 So, let's skip the tech part for a moment, Sharks. 397 00:29:12,680 --> 00:29:13,560 Let's put it aside. 398 00:29:14,160 --> 00:29:15,960 We analyzed the problem at the gym. 399 00:29:16,040 --> 00:29:18,080 There were so many people earlier and so many now. 400 00:29:18,160 --> 00:29:20,240 There are around 50 members at present. 401 00:29:20,320 --> 00:29:23,520 We know the problem now. The ambience is not right. 402 00:29:23,680 --> 00:29:25,040 So, we can do... 403 00:29:25,160 --> 00:29:27,720 It's obvious. You don't need data for this. 404 00:29:27,800 --> 00:29:29,960 No, let's put the tech part aside for a few moments. 405 00:29:30,040 --> 00:29:32,200 Let me tell you what we do. 406 00:29:32,280 --> 00:29:34,360 - Wait, let's take a break. - The business... 407 00:29:35,560 --> 00:29:39,080 Why are there nine digits in your phone number and not ten? 408 00:29:40,560 --> 00:29:42,360 [music playing] 409 00:29:44,200 --> 00:29:45,480 I think that got cut. 410 00:29:45,560 --> 00:29:48,360 No, it didn't. I've been watching it for ten minutes 411 00:29:48,440 --> 00:29:50,840 - and it's bouncing. - I love it! 412 00:29:52,400 --> 00:29:54,800 You should join CBI, FBI, or something. 413 00:29:54,920 --> 00:29:56,200 Attention to detail. 414 00:29:56,280 --> 00:29:57,680 - What's this? - I get it. 415 00:29:58,120 --> 00:30:01,040 Why is the M capital in 'India's Most'? 416 00:30:01,160 --> 00:30:03,200 Why don't you add grammar to the AI model? 417 00:30:16,280 --> 00:30:17,560 - Advanced. - Advanced. 418 00:30:17,640 --> 00:30:19,120 There's a 'D' on top and not here. 419 00:30:19,960 --> 00:30:22,680 [music playing] 420 00:30:23,600 --> 00:30:26,040 Where's the attention to detail? This is your showcase. 421 00:30:26,080 --> 00:30:27,160 - You're pitching. - Good point. 422 00:30:27,160 --> 00:30:28,520 - You're on TV. - Good point. 423 00:30:28,960 --> 00:30:31,400 Isn't it? You don't love your brand enough? 424 00:30:31,480 --> 00:30:34,480 - No, I understand-- - Show some love and respect. 425 00:30:34,560 --> 00:30:36,280 This is an excellent point. 426 00:30:36,360 --> 00:30:38,640 - I agree. - Your phone number is wrong 427 00:30:38,640 --> 00:30:39,800 on your commercial. 428 00:30:39,840 --> 00:30:42,600 Consumers won't be able to call you despite so many ads. 429 00:30:43,560 --> 00:30:44,960 I won't justify this. 430 00:30:45,080 --> 00:30:46,320 It's a grammatical mistake. 431 00:30:46,400 --> 00:30:49,160 I'm saying that if a CV has a typo, 432 00:30:49,280 --> 00:30:52,360 - we swipe left within seconds. - I agree. 433 00:30:53,240 --> 00:30:56,040 Correct? Why should you get more time? 434 00:30:56,160 --> 00:30:58,200 You're on national TV. 435 00:30:58,280 --> 00:31:00,240 At least check if this is right or not. 436 00:31:15,400 --> 00:31:17,920 I made a mistake. Probably, I'll make it better the next time. 437 00:31:18,000 --> 00:31:19,600 That is all I can say. 438 00:31:19,720 --> 00:31:23,640 - Do you go to the gym? - I haven't for the last 4 months. 439 00:31:23,680 --> 00:31:27,120 You don't use your product or services. 440 00:31:28,000 --> 00:31:30,160 I'm building a business now, Sharks. I'll be very honest. 441 00:31:30,240 --> 00:31:32,920 I'm fit. I've just put on weight 442 00:31:33,000 --> 00:31:34,520 because I don't focus on my eating habits at present. 443 00:31:34,600 --> 00:31:36,360 I work till 4 AM. 444 00:31:36,440 --> 00:31:37,960 I wake up in the morning and go to the gyms. 445 00:31:38,040 --> 00:31:38,920 I'm out. 446 00:31:39,200 --> 00:31:41,400 [music playing] 447 00:32:18,320 --> 00:32:20,040 How much do you earn? 448 00:32:20,160 --> 00:32:22,320 WTF is profitable throughout. 449 00:32:22,440 --> 00:32:25,360 We spend 50 per cent on the operational costs of the gym. 450 00:32:25,440 --> 00:32:27,280 Which is rent, electricity, and everything. 451 00:32:27,400 --> 00:32:31,600 On the remaining money, WTF holds around 35 per cent. 452 00:32:31,720 --> 00:32:35,080 That money comes home, it's our income. 453 00:32:35,280 --> 00:32:37,840 In that, the gym's operational cost 454 00:32:37,960 --> 00:32:40,600 includes WTF's deployed staff's 455 00:32:40,680 --> 00:32:43,800 salary too because we are operating the gym. 456 00:32:43,920 --> 00:32:46,520 - So that expense is added. - Please share the numbers. 457 00:33:05,880 --> 00:33:09,120 the 23 gyms we launched in 2021 458 00:33:09,200 --> 00:33:13,080 just use our tech now as we had piloted with them. 459 00:33:13,720 --> 00:33:15,320 So, why are you positioning for 43 gyms? 460 00:33:15,400 --> 00:33:18,360 Because through tech, they are still... See... 461 00:33:18,440 --> 00:33:20,560 - We are not operating it. - Sir, your words are 462 00:33:20,680 --> 00:33:24,240 making it tough to judge what's a lie and what's not. 463 00:33:25,800 --> 00:33:27,720 Anyway, from 20 gyms, 464 00:33:27,800 --> 00:33:29,800 you're making around Rs. 60 lakhs, 465 00:33:29,880 --> 00:33:32,000 that is Rs. 3 lakh per gym on average. 466 00:33:32,000 --> 00:33:32,720 Right. 467 00:33:32,800 --> 00:33:34,640 They earn only 35% of that. 468 00:33:34,720 --> 00:33:36,640 Per gym only one lakh. 469 00:33:36,720 --> 00:33:38,960 - No, it's not the cost... - So from each gym 470 00:33:52,440 --> 00:33:54,520 A confusing business and 471 00:33:54,920 --> 00:33:57,600 you've only played the game so far using buzzwords. 472 00:34:00,120 --> 00:34:01,440 You talk of new tech, 473 00:34:01,520 --> 00:34:04,760 then you sideline it and bring in data. 474 00:34:05,360 --> 00:34:06,640 I'm out of this. 475 00:34:07,600 --> 00:34:09,320 We invest for two things. 476 00:34:09,400 --> 00:34:11,800 The founders and the business model. 477 00:34:11,960 --> 00:34:14,520 There are a lot of flaws in the founders. 478 00:34:14,920 --> 00:34:16,720 There's no specificity and 479 00:34:16,760 --> 00:34:19,400 statistics in the conversation style. 480 00:34:19,840 --> 00:34:22,320 Your numbers are also very low. 481 00:34:22,400 --> 00:34:25,240 Even business model-wise, we don't have the confidence 482 00:34:25,320 --> 00:34:27,320 that you'll scale and I'll get my money back. 483 00:34:27,400 --> 00:34:30,520 So, please rework, rethink. 484 00:34:30,880 --> 00:34:33,080 - But for today, I'm out. - Thank you. 485 00:35:08,960 --> 00:35:10,680 You use a lot of 486 00:35:10,880 --> 00:35:13,640 buzzwords, like Aman said. 487 00:35:13,760 --> 00:35:16,560 And this creates a question mark 488 00:35:16,680 --> 00:35:18,640 in the minds of the investors. 489 00:35:19,560 --> 00:35:23,640 I don't feel I can trust this partnership, I'm out. 490 00:35:23,920 --> 00:35:24,920 Okay. 491 00:35:25,720 --> 00:35:26,960 This is the problem, bro. 492 00:35:27,480 --> 00:35:29,320 Your model is wrong. 493 00:35:29,760 --> 00:35:32,480 OYO for gyms won't work. 494 00:35:33,120 --> 00:35:34,800 When there are hotel rooms, 495 00:35:34,880 --> 00:35:38,520 the budget on which OYO operates is very transactional. 496 00:35:38,840 --> 00:35:42,280 A lot of people have tried to do the same thing with salons as well. 497 00:35:42,560 --> 00:35:44,080 - They completely failed. - Okay. 498 00:35:44,160 --> 00:35:45,800 You'll have the same problem with gym 499 00:35:45,800 --> 00:35:47,680 ownership because gym owners are passionate. 500 00:35:47,760 --> 00:35:49,000 They run it personally. 501 00:35:49,080 --> 00:35:52,040 You're putting up two bosses, your manager and the gym owner. 502 00:35:52,120 --> 00:35:53,400 It's a completely failed plan. 503 00:35:54,760 --> 00:35:56,680 Second point, your valuation. 504 00:35:57,200 --> 00:35:59,280 You don't even have Rs. 1 crore revenue annually. 505 00:35:59,400 --> 00:36:00,560 - See, if you look at... - Your revenue, 506 00:36:00,640 --> 00:36:01,640 - not of the gyms. - Right. 507 00:36:01,880 --> 00:36:04,040 How did you bring up a valuation of Rs. 50 crores? 508 00:36:04,120 --> 00:36:05,560 You should've given it a thought. 509 00:36:07,000 --> 00:36:09,840 I don't see a business market in your model. 510 00:36:09,920 --> 00:36:12,760 The founders have already said that they don't trust it. 511 00:36:12,880 --> 00:36:15,880 That's the reason I'm out. All sharks are out, good luck. 512 00:36:16,080 --> 00:36:18,040 - Thank you. - Thank you. - Good luck. 513 00:36:18,160 --> 00:36:22,280 When you approach an investor, underpromise, don't overpromise. 514 00:36:22,360 --> 00:36:24,040 Undersell, don't oversell and 515 00:36:24,120 --> 00:36:27,800 even if you undersell, your business, your metrics, 516 00:36:27,960 --> 00:36:30,520 should be good enough for people to lend you money. 517 00:36:30,600 --> 00:36:32,600 When you oversell, you lose trust. 518 00:36:32,680 --> 00:36:34,040 Take the feedback positively. 519 00:36:34,080 --> 00:36:35,840 - Sure. - It'll help you a lot. 520 00:36:35,960 --> 00:36:37,040 - And surprise us. - All the best. 521 00:36:37,120 --> 00:36:39,360 - We will. Very soon we'll be in Delhi and Mumbai. - Please do. 522 00:36:39,480 --> 00:36:40,880 We'll be very happy if you surprise us. 523 00:36:40,920 --> 00:36:42,280 We'll make you customers, thank you. 524 00:36:42,360 --> 00:36:43,360 Thank you. 525 00:36:45,880 --> 00:36:48,560 [music playing] 526 00:36:57,640 --> 00:37:00,280 [music playing] 527 00:37:25,120 --> 00:37:28,040 Greetings, Sharks. I'm Rahul from Ludhiana, Punjab. 528 00:37:36,920 --> 00:37:40,680 Sharks, I'm a senior software engineer in a software company. 529 00:37:40,920 --> 00:37:42,880 I have worked hard to become an engineer. 530 00:37:42,960 --> 00:37:46,080 I thought that I'll code, create software and go abroad. 531 00:37:46,200 --> 00:37:49,000 But I'm having to do the work of two engineers here. 532 00:37:49,240 --> 00:37:52,480 A software engineer has to take three technical interview rounds. 533 00:37:52,560 --> 00:37:55,280 And guess what? I'm not even getting paid for it. 534 00:37:56,600 --> 00:37:58,520 Sharks, I'm in the HR team of the same company. 535 00:37:58,640 --> 00:38:01,400 I've been telling him for long to take the interviews 536 00:38:01,480 --> 00:38:03,640 because he's the one with technical expertise. 537 00:38:04,320 --> 00:38:06,880 Last week, there were five candidates and they also left 538 00:38:06,960 --> 00:38:08,680 because he wasn't available. 539 00:38:08,840 --> 00:38:11,200 Sharks, to fill one tech vacancy, 540 00:38:11,280 --> 00:38:14,760 every company interviews over 25 candidates. 541 00:38:28,080 --> 00:38:29,200 Using Intervue. 542 00:38:30,160 --> 00:38:33,960 Intervue is a platform where the world's most popular companies 543 00:38:34,200 --> 00:38:37,240 like Facebook, Google, Amazon's engineers 544 00:38:37,320 --> 00:38:39,880 interview the candidates from other companies 545 00:38:39,960 --> 00:38:41,880 and make their hiring easier. 546 00:38:41,960 --> 00:38:44,800 And now, these engineers also get paid for it. 547 00:39:11,760 --> 00:39:14,120 and we create a credible database 548 00:39:14,200 --> 00:39:17,160 that can be used to make hiring faster for companies. 549 00:39:17,240 --> 00:39:19,240 For this, Sharks, we ask for 550 00:39:19,320 --> 00:39:22,000 Rs. 1.5 crores for 1% equity. 551 00:39:29,560 --> 00:39:32,000 Rahul, Pushpender, what's the real story? 552 00:39:32,080 --> 00:39:34,240 How did you meet? Why did you start this business? 553 00:39:34,320 --> 00:39:37,680 Anupam, we know each other for the past 5 years. 554 00:39:37,800 --> 00:39:41,040 I was an engineer for around 8 years before Intervue. 555 00:39:41,160 --> 00:39:43,920 I've worked with companies such as Paytm and Deutsche Telekom. 556 00:39:44,000 --> 00:39:46,760 I have created netbanking and QR code functionalities for them. 557 00:39:47,480 --> 00:39:48,760 I met Pushpender in Paytm. 558 00:39:48,840 --> 00:39:50,000 What was Pushpender doing? 559 00:39:50,200 --> 00:39:52,080 I was also an engineer in Rahul's team. 560 00:39:52,080 --> 00:39:52,720 Okay. 561 00:39:52,800 --> 00:39:56,320 Pushpender's speciality is that he can learn any technology. 562 00:39:56,400 --> 00:39:58,240 And then we had to build an engineering 563 00:39:58,240 --> 00:40:00,120 team of 200 people in Deutsche Telekom. 564 00:40:00,200 --> 00:40:02,560 They were building an R&D centre for European businesses. 565 00:40:02,640 --> 00:40:06,240 I personally conducted 2500-3000 tech interviews. 566 00:40:06,320 --> 00:40:06,880 Wow! 567 00:40:06,920 --> 00:40:08,760 The problem with the interviews everyday was that 568 00:40:08,760 --> 00:40:10,800 the bandwidth for conducting these interviews was very low. 569 00:40:10,840 --> 00:40:12,360 - Okay. - My team was struggling. 570 00:40:12,440 --> 00:40:14,720 Not just us, even the HR team was struggling. 571 00:40:14,840 --> 00:40:17,240 That's why I went to Pushpender and I told him 572 00:40:17,360 --> 00:40:19,440 that let's launch this and the rest is history. 573 00:40:20,560 --> 00:40:22,640 I don't understand, what's the actual problem? 574 00:40:22,720 --> 00:40:24,320 Assume that boAt is hiring. 575 00:40:24,400 --> 00:40:27,080 And boAt has a senior software engineer on the job. 576 00:40:27,160 --> 00:40:29,960 If there are 1000 applicants, someone is screening them. 577 00:40:30,040 --> 00:40:33,560 After screening them, there are at least 2-3 technical rounds. 578 00:40:33,640 --> 00:40:35,400 In those 2-3 technical rounds, 579 00:40:35,480 --> 00:40:37,960 90% of the candidates are filtered out. 580 00:40:38,080 --> 00:40:40,440 Imagine that in those 2-3 technical rounds, 581 00:40:40,520 --> 00:40:43,320 how much bandwidth is your engineering team losing. 582 00:40:43,440 --> 00:40:46,040 Number two, you're probably losing quality candidates 583 00:40:46,120 --> 00:40:48,040 because the candidate has applied somewhere else 584 00:40:48,040 --> 00:40:49,920 and it's taking you 45 days to hire one person. 585 00:40:50,000 --> 00:40:51,160 Because your engineer is telling you 586 00:40:51,200 --> 00:40:53,240 I'll take the interview next week, I'm busy with a product. 587 00:40:53,240 --> 00:40:53,920 Okay. 588 00:40:54,000 --> 00:40:55,520 We're telling you 589 00:40:55,600 --> 00:40:57,840 that you send us those 1000 candidates, 590 00:40:57,920 --> 00:41:01,920 I'll share the top 60-70 candidates after conducting an interview. 591 00:41:18,560 --> 00:41:19,880 It doesn't hamper their work. 592 00:41:20,000 --> 00:41:22,200 But they're losing their bandwidth in conducting these interviews. 593 00:41:22,200 --> 00:41:24,680 No, those engineers conduct these interviews in off-hours 594 00:41:24,720 --> 00:41:26,840 and weekends because they're getting paid for it. 595 00:41:27,800 --> 00:41:30,240 We can conduct over 500 interviews in a day. 596 00:41:30,360 --> 00:41:31,600 I'll show you how. 597 00:41:31,680 --> 00:41:33,760 This is our platform, our website. 598 00:41:33,840 --> 00:41:36,680 Assume that Zomato is hiring and the HR of Zomato 599 00:41:36,920 --> 00:41:38,840 logs in on this platform. 600 00:41:38,960 --> 00:41:41,400 Why assume? You've put up their logo, so you're hiring for them. 601 00:41:41,480 --> 00:41:42,480 They're our customer. 602 00:41:42,760 --> 00:41:44,080 - Even now? - Yes. 603 00:41:44,160 --> 00:41:45,800 Even their engineers conduct interviews? 604 00:41:45,880 --> 00:41:47,560 - Some engineers do. - Okay. 605 00:41:47,640 --> 00:41:48,440 Give him the list. 606 00:41:48,520 --> 00:41:50,240 [laughing] 607 00:41:50,480 --> 00:41:51,960 It's our dashboard. 608 00:41:52,040 --> 00:41:54,920 A company can hire all the probable technical profiles 609 00:41:55,000 --> 00:41:57,320 over here. 610 00:42:05,600 --> 00:42:07,600 If they are hiring a JavaScript developer, 611 00:42:07,680 --> 00:42:08,480 they'll choose "JavaScript". 612 00:42:08,560 --> 00:42:11,440 They will choose the experience of the candidate. 613 00:42:11,520 --> 00:42:15,320 They can also see the technical testing within JavaScript. 614 00:42:15,400 --> 00:42:18,120 As it's technical testing, it's binary. 615 00:42:18,200 --> 00:42:21,040 We don't test a candidate's behaviour. 616 00:42:21,120 --> 00:42:22,480 The testing is mostly objective. 617 00:42:22,560 --> 00:42:25,880 A real interviewer who knows these parameters does these tests. 618 00:42:25,960 --> 00:42:27,680 The HR just needs to add the candidates 619 00:42:37,000 --> 00:42:39,920 "Please prepare a perfect resume for this job description." 620 00:42:40,040 --> 00:42:42,640 ChatGPT will give me a resume 621 00:42:42,720 --> 00:42:44,280 which would most probably be purported. 622 00:42:44,400 --> 00:42:46,960 So we don't share the candidate's resume with the interviewer. 623 00:42:47,040 --> 00:42:49,600 Interviewers don't know the details of the candidate 624 00:43:00,960 --> 00:43:03,800 I'll join an interview as an interviewer. 625 00:43:04,280 --> 00:43:05,920 Suppose the interview is for boAt company. 626 00:43:06,040 --> 00:43:08,920 Probably I'm an engineering manager in another company. 627 00:43:09,480 --> 00:43:11,360 I can only see the experience of the candidate 628 00:43:11,440 --> 00:43:12,640 and the duration of the round. 629 00:43:12,720 --> 00:43:14,360 I must ask these types of questions 630 00:43:14,440 --> 00:43:17,200 - and this is my judging criteria for the candidate. - Nice. 631 00:43:17,480 --> 00:43:19,480 Then I'll join the interview. 632 00:43:28,280 --> 00:43:29,720 Coding happens hands-on. 633 00:43:29,800 --> 00:43:31,200 When I join as a candidate, 634 00:43:31,280 --> 00:43:33,880 I just need to click on "join as a candidate". 635 00:43:34,000 --> 00:43:35,440 This platform is collaborative. 636 00:43:35,560 --> 00:43:38,760 If we go live and type something on Google Docs, others can see it. 637 00:43:38,840 --> 00:43:40,080 Our platform is completely collaborative. 638 00:43:40,160 --> 00:43:41,840 By the way, we are one of the world's fastest 639 00:43:41,960 --> 00:43:43,360 programming environment-only internet. 640 00:43:44,400 --> 00:43:47,280 I can prove it to you with the help of pay speeding sites. 641 00:43:47,400 --> 00:43:49,560 - You are a hardcore salesperson. - Amazing! 642 00:43:49,640 --> 00:43:51,800 - Amazing sales sense... - Are you really an engineer? 643 00:43:52,000 --> 00:43:54,360 I was an engineer but I always wanted to be an entrepreneur. 644 00:43:54,480 --> 00:43:57,880 Please see this once. If the candidates lip-sync, 645 00:43:58,120 --> 00:44:00,840 interviewers can find out. 646 00:44:00,920 --> 00:44:04,440 Many times candidates join but somebody else speaks 647 00:44:04,520 --> 00:44:06,480 on their behalf and the candidate just lip-syncs. 648 00:44:06,560 --> 00:44:09,160 [suspenseful music playing] 649 00:44:09,240 --> 00:44:11,720 Our software catches it 650 00:44:42,080 --> 00:44:43,640 The last module is the feedback module. 651 00:44:43,720 --> 00:44:47,280 As an interviewer, I'll check all the technical parameters 652 00:44:47,360 --> 00:44:48,200 chosen by HR. 653 00:44:48,320 --> 00:44:50,600 I'll give the candidate a perfect ten in Redux 654 00:44:50,680 --> 00:44:52,480 because they have a strong knowledge of Redux. 655 00:44:52,560 --> 00:44:55,280 I'll rate all the technical parameters in the same way 656 00:44:55,360 --> 00:44:57,040 and at the end of the day, I'll give my verdict. 657 00:44:57,120 --> 00:44:59,200 "Strong No, No, Yes or Strong Yes." 658 00:44:59,400 --> 00:45:01,120 As soon as the interviewer ends the interview, 659 00:45:01,200 --> 00:45:04,440 a report is generated within 5 minutes. 660 00:45:34,000 --> 00:45:34,800 I understood. 661 00:45:35,760 --> 00:45:36,920 How would you feel? 662 00:45:37,040 --> 00:45:38,720 Suppose, instead of your HR team, 663 00:45:38,800 --> 00:45:41,840 an outside agency conducts interviews on your behalf. 664 00:45:42,080 --> 00:45:44,000 You aren't replacing the HR round. 665 00:45:44,120 --> 00:45:45,800 You are replacing only the technical round. 666 00:45:45,880 --> 00:45:47,280 The HR round needs to be taken for culture fit. 667 00:45:47,360 --> 00:45:49,160 Now we index on culture. 668 00:45:49,240 --> 00:45:50,640 We conduct three to four rounds on culture. 669 00:45:50,760 --> 00:45:52,680 Lastly, the technical round is conducted. 670 00:45:53,640 --> 00:45:55,640 We hire hundreds of engineers a year. 671 00:45:55,720 --> 00:45:58,200 First, we objectively evaluate the technical aspect. 672 00:46:08,520 --> 00:46:10,160 - is there a problem? - We don't have a problem. 673 00:46:10,240 --> 00:46:13,560 You may follow your process. We aren't working as a framework. 674 00:46:13,640 --> 00:46:15,400 We are simply helping you filter. 675 00:46:15,480 --> 00:46:18,760 Philosophically, I don't like your business model. 676 00:46:19,200 --> 00:46:21,200 If the employees of my company 677 00:46:21,280 --> 00:46:24,480 conduct interviews as per my company's culture, 678 00:46:24,560 --> 00:46:26,920 it is a better check for me. 679 00:46:46,840 --> 00:46:50,120 Recruitment is a crucial thing. 680 00:46:50,200 --> 00:46:55,120 I'll never outsource it to a business model resembling a factory. 681 00:46:55,600 --> 00:46:57,000 I can't be an investor. 682 00:46:57,080 --> 00:46:59,600 I'm out but I wish you the best. 683 00:47:25,560 --> 00:47:27,200 Companies often complain, 684 00:47:27,320 --> 00:47:28,960 "our engineers don't interview after 8 p.m." 685 00:47:29,040 --> 00:47:31,080 I tell them that they can ask us to conduct interviews at 11 p.m. 686 00:47:31,160 --> 00:47:33,680 I'll vet 500 engineers for you within a day. 687 00:47:33,760 --> 00:47:35,120 The next day, they may conduct the technical interview. 688 00:47:35,200 --> 00:47:36,480 It's all about money. 689 00:47:36,560 --> 00:47:39,320 An engineer doesn't conduct an interview where he works 690 00:47:39,400 --> 00:47:42,200 as he doesn't get paid extra but he'd work on the weekend for you. 691 00:47:42,320 --> 00:47:43,720 As a company, 692 00:47:43,800 --> 00:47:47,000 why would I approach you? I'll pay my engineers more. 693 00:47:47,080 --> 00:47:50,080 Companies have a referral programme for internal employees. 694 00:47:50,160 --> 00:47:51,280 He understood your question. 695 00:47:51,400 --> 00:47:52,680 That's superb. 696 00:47:52,800 --> 00:47:55,280 [laughing] 697 00:47:55,520 --> 00:47:57,000 What the hell! 698 00:47:57,360 --> 00:47:58,680 I won't reveal the company's name. 699 00:47:58,760 --> 00:48:01,600 When we went to sell them, they said "we'll pay our engineers more." 700 00:48:02,040 --> 00:48:04,880 They started giving vouchers to the engineers at the end of the month. 701 00:48:04,960 --> 00:48:06,720 Some even started taking cash. 702 00:48:06,840 --> 00:48:08,120 They got the payment at the month's end. 703 00:48:08,200 --> 00:48:09,560 I'll brief you about their platform. 704 00:48:09,680 --> 00:48:12,600 If my interview ends at 6 p.m., as an interviewer, 705 00:48:12,680 --> 00:48:14,400 my account will be credited at 6.01 p.m. 706 00:48:14,520 --> 00:48:15,760 and I can withdraw money through UPI. 707 00:48:37,240 --> 00:48:39,360 - That's how you calculate the revenue. - Yes. 708 00:48:39,440 --> 00:48:40,800 - It's your gross revenue. - Yes. 709 00:48:40,920 --> 00:48:41,760 What is your net revenue? 710 00:48:41,880 --> 00:48:43,640 We pay 40% of it to the engineer. 711 00:48:48,080 --> 00:48:49,040 Do you also have a competition? 712 00:48:49,160 --> 00:48:52,680 Yes. A large company from the US. It has touched billion dollars. 713 00:48:52,760 --> 00:48:54,960 - Sales or billion dollars in valuation? - Valuation. 714 00:48:55,040 --> 00:48:56,360 Their revenue is about 40 million. 715 00:48:56,440 --> 00:48:57,800 - Engineering only? - Yes. 716 00:48:57,880 --> 00:48:59,760 - What's the company's name? - Karat. 717 00:48:59,840 --> 00:49:01,280 - Are they in India? - Yes. 718 00:49:01,360 --> 00:49:04,240 Their rates are very high. ยค250 for one interview. 719 00:49:04,320 --> 00:49:05,880 No one in India will pay that much. 720 00:49:10,400 --> 00:49:12,080 We're a rubric-powered hiring platform. 721 00:49:24,240 --> 00:49:26,040 is global and without borders. 722 00:49:26,240 --> 00:49:30,920 - Right. - An engineer from India can give an interview for the US. 723 00:49:31,000 --> 00:49:32,000 You're absolutely right. 724 00:49:32,080 --> 00:49:34,680 The hiring is global. I can evaluate an engineer even from Iceland. 725 00:49:34,760 --> 00:49:35,680 The parameters will stay the same. 726 00:49:35,760 --> 00:49:37,400 So, you don't plan on being an Indian company. 727 00:49:37,440 --> 00:49:38,840 - It's a global platform. - Of course. 728 00:49:38,920 --> 00:49:40,840 We want to become a billion-dollar company. 729 00:49:40,920 --> 00:49:42,480 That's not possible in India. 730 00:49:42,720 --> 00:49:45,080 - Billion-dollar companies do exist in India. - I'm with you. 731 00:49:45,160 --> 00:49:47,800 I meant given our industry and TAM. 732 00:49:50,840 --> 00:49:53,720 You're just brilliant and truly amazing. 733 00:49:53,760 --> 00:49:55,200 I don't want to get tempted 734 00:49:55,280 --> 00:49:58,320 - to end up spending Rs. 1.5 crores at 1%... - Hey! 735 00:49:58,400 --> 00:50:01,000 As I am not the right investor fit for you. 736 00:50:01,080 --> 00:50:02,720 The more I hear, the more tempted I'll be. 737 00:50:02,840 --> 00:50:04,480 - Vineeta, I... - You're extremely brilliant. 738 00:50:04,640 --> 00:50:08,320 Just one of the sharpest pitchers ever. 739 00:50:08,760 --> 00:50:11,000 So, good luck with that. I'm out. 740 00:50:11,680 --> 00:50:13,280 Forget her, talk to me. I'll give you a good offer. 741 00:50:13,400 --> 00:50:15,720 I want to talk too. I have an important question. 742 00:50:15,800 --> 00:50:16,640 What does he do? 743 00:50:16,720 --> 00:50:17,800 I handle the tech. 744 00:50:17,880 --> 00:50:20,720 The reports and back end you see, 745 00:50:20,800 --> 00:50:23,560 anything system-related is handled by me. 746 00:50:23,680 --> 00:50:25,200 What's your share of equity? 747 00:50:35,560 --> 00:50:36,760 your valuation and when it happened. 748 00:51:08,040 --> 00:51:10,080 The market dynamics are favourable 749 00:51:10,160 --> 00:51:12,320 because it's headed in this direction. 750 00:51:12,840 --> 00:51:14,120 Here's the problem, my friend. 751 00:51:14,680 --> 00:51:17,200 You're at a valuation of Rs. 120 crores. 752 00:51:17,600 --> 00:51:20,720 According to me, currently, your valuation 753 00:51:20,920 --> 00:51:22,960 should be Rs. 40 to 50 crores at the most. 754 00:51:23,200 --> 00:51:25,560 This isn't going down well with me. 755 00:51:28,240 --> 00:51:29,600 The guy is solid and amazing. 756 00:51:29,680 --> 00:51:32,520 Everyone is saying the valuation is a problem though. 757 00:51:33,600 --> 00:51:35,320 Let me bet on you. 758 00:51:35,400 --> 00:51:36,760 Rs. 1.5 crores for 2% equity. 759 00:51:43,680 --> 00:51:45,720 In fact, my valuation will be lower than Aman's. 760 00:51:45,960 --> 00:51:48,120 I will give you Rs. 1.5 crores for 3% equity. 761 00:51:56,320 --> 00:51:59,200 I still spend 90% of my time in tech. 762 00:51:59,320 --> 00:52:01,080 This space really intrigues me. 763 00:52:01,200 --> 00:52:03,080 - Deepinder, could I talk to you for a minute? - Sure. 764 00:52:03,120 --> 00:52:04,000 In private. 765 00:52:08,000 --> 00:52:09,600 How much money do you have in the bank? 766 00:52:10,120 --> 00:52:11,160 About Rs. 6.5 crores. 767 00:52:15,920 --> 00:52:17,600 Get ready for a deal! 768 00:52:18,520 --> 00:52:19,920 What will you do with this money? 769 00:52:20,120 --> 00:52:23,440 An enterprise makes us Rs. 25 to 30 lakhs a year. 770 00:52:23,520 --> 00:52:27,720 If I can multiply enterprises and build a team, not just in India, 771 00:52:27,880 --> 00:52:29,640 but even for EMEA and the US markets, 772 00:52:30,080 --> 00:52:31,520 - the sky is the limit. - Yes. 773 00:52:49,680 --> 00:52:51,680 Now, listen up. 774 00:52:51,920 --> 00:52:55,240 You're doing great. I like that you want to build a global company. 775 00:52:55,320 --> 00:52:58,560 Do you plan on focusing on other areas such as design? 776 00:52:58,720 --> 00:53:01,440 We're making a foray even into the non-tech market. 777 00:53:01,600 --> 00:53:03,000 So, you have plans for business expansion. 778 00:53:03,120 --> 00:53:04,440 - Non-tech... - Thank you. Got my answer. 779 00:53:04,560 --> 00:53:06,600 Deepinder wishes to make you an offer. 780 00:53:06,800 --> 00:53:08,040 Rs. 1.5 crores won't be enough. 781 00:53:09,040 --> 00:53:10,520 How will you raise more capital? 782 00:53:10,680 --> 00:53:13,960 Our plan is to grow and then raise a series A round. 783 00:53:14,080 --> 00:53:15,440 Raise the series A here. 784 00:53:17,680 --> 00:53:20,200 - Okay. - Aman and I combined 785 00:53:21,080 --> 00:53:22,440 - will give you Rs. 5 crores... - Eh? 786 00:53:32,720 --> 00:53:35,480 And 10% because it has to be fun for us. 787 00:53:35,600 --> 00:53:40,160 How will we even mentor or coach for a meagre 3 or 4%? 788 00:53:40,240 --> 00:53:41,920 - So... Whatever. - True, to be able to add value. 789 00:53:42,000 --> 00:53:42,800 Yes. 790 00:53:44,840 --> 00:53:45,640 What do you wish to do? 791 00:53:45,720 --> 00:53:46,920 Deepinder, Aman and Anupam, 792 00:53:47,000 --> 00:53:49,680 is there a chance you could meet our old cap? 793 00:53:50,640 --> 00:53:52,120 I cannot. 794 00:53:52,840 --> 00:53:55,760 Without at least 8 to 10%, it's just boring. 795 00:53:56,120 --> 00:54:00,200 We don't have that kind of cash in the bank to give to you. 796 00:54:00,280 --> 00:54:01,760 This is all we can offer. 797 00:54:02,960 --> 00:54:04,800 Look at the value-add. 798 00:54:05,040 --> 00:54:10,040 I do wish to maintain the cap of 15 million. 799 00:54:11,160 --> 00:54:13,400 Could all three of you come on board 800 00:54:13,480 --> 00:54:16,440 with Rs. 5 crores for 4% equity at a valuation of 15 million? 801 00:54:28,960 --> 00:54:31,840 - Aman. - I'll go back to my old offer. 802 00:54:31,920 --> 00:54:33,040 [Sharks laugh] 803 00:54:33,720 --> 00:54:35,880 Last offer. Rs. 1.5 crores for 2% equity. 804 00:54:54,640 --> 00:54:57,120 Maximise your chances to get to a billion. 805 00:54:57,720 --> 00:54:58,880 Don't maximise this... 806 00:54:58,960 --> 00:55:00,440 It shouldn't be like when you reach a billion, 807 00:55:00,560 --> 00:55:01,880 you have a percentage left. 808 00:55:02,000 --> 00:55:05,040 Don't act miserly now. Get the right people on your side. 809 00:55:07,800 --> 00:55:09,400 - Rahul, time to make a decision. - Yes. 810 00:55:09,480 --> 00:55:10,520 [tense music playing] 811 00:55:22,560 --> 00:55:24,160 - Then I met him! - [laughter] 812 00:55:25,240 --> 00:55:26,080 Good job. 813 00:55:26,400 --> 00:55:27,360 [camera shutter clicks] 814 00:55:28,000 --> 00:55:29,800 - Well done. - All the best. 815 00:55:30,000 --> 00:55:30,880 - Thank you. - Good job.