1 00:00:10,000 --> 00:00:11,640 [music playing] 2 00:00:14,600 --> 00:00:15,680 'Make some room.' 3 00:00:15,840 --> 00:00:18,280 'Coming today on Shark Tank India' 4 00:00:18,360 --> 00:00:19,800 'is the youngest Shark at just 30 years.' 5 00:00:19,920 --> 00:00:23,440 'The Founder and Group CEO of OYO, Ritesh Agarwal.' 6 00:00:28,160 --> 00:00:29,800 [music playing] 7 00:00:33,680 --> 00:00:36,120 'OYO's journey wasn't a straight line.' 8 00:00:40,200 --> 00:00:42,240 and a lot of difficult situations. 9 00:00:42,400 --> 00:00:44,240 The highs have been exponential 10 00:00:44,360 --> 00:00:47,720 and left people in awe of us. 11 00:00:50,880 --> 00:00:53,120 When I started my own business, 12 00:00:53,200 --> 00:00:55,160 I had really low ambitions. 13 00:00:58,560 --> 00:01:01,560 What do customers like the most about the rooms? 14 00:01:01,800 --> 00:01:04,080 I had set up one hotel and my ambition was 15 00:01:04,120 --> 00:01:07,520 to be able to establish a few more hotels in life. 16 00:01:07,760 --> 00:01:09,960 I come from a small town. 17 00:01:10,040 --> 00:01:12,720 So, coming to Delhi and setting up my own business 18 00:01:13,240 --> 00:01:14,480 was a big deal in itself. 19 00:01:18,520 --> 00:01:20,960 During my early years, 20 00:01:21,120 --> 00:01:23,120 when I was born and brought up in Rayagada... 21 00:01:26,880 --> 00:01:28,480 There were a handful of things 22 00:01:28,760 --> 00:01:31,560 that firmly shaped my life. 23 00:01:31,680 --> 00:01:32,960 [school bell rings] 24 00:01:37,400 --> 00:01:38,640 When I was in the twelfth grade, 25 00:01:38,760 --> 00:01:41,760 my family faced a major financial hardship. 26 00:01:44,600 --> 00:01:45,680 In that situation, 27 00:01:45,920 --> 00:01:48,360 there was no other option but to sell the house. 28 00:01:54,080 --> 00:01:56,400 That taught me sacrifice. 29 00:02:01,560 --> 00:02:04,880 I learned my greatest lesson in the markets of Rayagada. 30 00:02:07,480 --> 00:02:11,240 I used to visit the market as a child to sell SIM cards. 31 00:02:11,280 --> 00:02:14,160 I'd listen to the problems and feedback of the customers there. 32 00:02:14,240 --> 00:02:16,040 That made me realise 33 00:02:16,120 --> 00:02:17,920 that the pursuit of excellence 34 00:02:18,000 --> 00:02:20,520 and the values of our company, 35 00:02:20,720 --> 00:02:22,920 in a way, stemmed from there. 36 00:02:24,840 --> 00:02:28,240 The lowest point of my professional career 37 00:02:28,600 --> 00:02:29,680 was during the pandemic. 38 00:02:32,120 --> 00:02:35,800 All the hotels were vacant in one day. 39 00:02:35,920 --> 00:02:39,120 My income dropped by 70 to 80%. 40 00:02:40,640 --> 00:02:42,760 We focused on a few key things. 41 00:02:42,840 --> 00:02:44,720 Firstly, our customers, 42 00:02:44,800 --> 00:02:46,960 team members and our hotels. 43 00:02:47,040 --> 00:02:50,280 We tried to talk to all three every month. 44 00:02:50,360 --> 00:02:53,080 Secondly, we focused on the loyalty program. 45 00:02:53,160 --> 00:02:54,880 Today, our loyalty program Wizard 46 00:02:54,960 --> 00:02:58,320 is probably the biggest in India in the travel segment. 47 00:02:58,400 --> 00:03:00,120 Thirdly, we focused on the app. 48 00:03:00,200 --> 00:03:03,800 Today, 92% of our bookings come through our app and website 49 00:03:03,920 --> 00:03:05,680 which are not third-party channels. 50 00:03:05,760 --> 00:03:08,880 During Covid, our company stood at a loss 51 00:03:08,960 --> 00:03:11,800 of Rs. 450 crores EBITDA. 52 00:03:13,800 --> 00:03:15,320 I am delighted to say 53 00:03:15,400 --> 00:03:19,400 that our company will earn Rs. 1,000 crores EBITDA. 54 00:03:20,240 --> 00:03:21,560 [pleasant music playing] 55 00:03:23,600 --> 00:03:25,560 - I hope you have a great experience. - Thank you so much. 56 00:03:29,720 --> 00:03:32,480 I've been often asked, "Why Shark Tank?". 57 00:03:32,560 --> 00:03:34,680 Shark Tank has built a brilliant platform. 58 00:03:34,760 --> 00:03:37,600 It rapidly lent entrepreneurial ambitions in India 59 00:03:37,680 --> 00:03:39,560 a new sense of excitement. 60 00:03:41,760 --> 00:03:43,280 No matter which city I visited, 61 00:03:43,400 --> 00:03:45,480 I noticed that people considered entrepreneurship 62 00:03:45,640 --> 00:03:47,600 synonymous with Shark Tank. 63 00:03:47,920 --> 00:03:49,200 [applause] 64 00:03:51,000 --> 00:03:54,800 Sir, I will try my best... 65 00:03:57,160 --> 00:04:01,080 My personal experience can be looked upon as a learning. 66 00:04:01,200 --> 00:04:04,200 If a child like me with limited resources, 67 00:04:04,320 --> 00:04:08,880 who wasn't a leader in studies or other areas, 68 00:04:08,960 --> 00:04:10,040 can achieve success, 69 00:04:10,400 --> 00:04:14,960 then other kids who are bright and clever 70 00:04:15,040 --> 00:04:17,400 can achieve greater success than me. 71 00:04:20,880 --> 00:04:22,640 All right! Good luck, Ritesh! 72 00:04:22,840 --> 00:04:23,800 - All right. - Woo hoo! 73 00:04:24,080 --> 00:04:25,400 I need all the best wishes. 74 00:04:47,160 --> 00:04:48,960 [theme music playing] 75 00:05:11,320 --> 00:05:12,960 [music concludes] 76 00:05:13,640 --> 00:05:15,000 Taxi driver! 77 00:05:15,120 --> 00:05:17,160 I wish to go to Darbhanga. Will you take me? 78 00:05:17,280 --> 00:05:19,600 Sure, sir. That will be Rs. 4,000. 79 00:05:19,680 --> 00:05:21,400 That's a steep fare for a mere 150 km! 80 00:05:21,640 --> 00:05:24,000 I didn't pay that much to travel from Delhi to Patna. 81 00:05:24,080 --> 00:05:27,560 Sir, I will drive 150 km to as well as fro. 82 00:05:27,680 --> 00:05:29,600 I won't get a passenger on my way back here. 83 00:05:29,720 --> 00:05:31,400 My children will starve. 84 00:05:31,760 --> 00:05:34,320 Either come with me or walk all the way! 85 00:05:34,400 --> 00:05:35,240 [laughter] 86 00:05:35,320 --> 00:05:37,920 Sharks, this is very common in Bihar. 87 00:05:38,800 --> 00:05:41,280 Owing to unorganised taxi services, 88 00:05:48,720 --> 00:05:52,480 RodBez brings you the solution to this problem. 89 00:05:53,600 --> 00:05:54,480 Greetings, Sharks. 90 00:06:06,040 --> 00:06:10,240 where drivers select their routes, and passengers, their destination. 91 00:06:10,360 --> 00:06:12,760 We connect passengers with drivers 92 00:06:30,400 --> 00:06:32,440 I request you to come on board 93 00:06:32,520 --> 00:06:34,600 and revolutionise the taxi industry in Bihar. 94 00:06:34,720 --> 00:06:35,600 Wonderful! 95 00:06:36,160 --> 00:06:37,280 Amazing. [claps] 96 00:06:37,640 --> 00:06:40,320 - Welcome to Shark Tank. - Thank you. 97 00:06:47,280 --> 00:06:48,880 Tell us about your respective backgrounds. 98 00:06:49,080 --> 00:06:51,760 Sir, my father was a bus driver. 99 00:06:52,040 --> 00:06:54,680 I got married in 2008. 100 00:06:54,800 --> 00:06:56,560 Marriage comes with added responsibilities. 101 00:06:56,640 --> 00:06:58,040 I was 16 years old at the time. 102 00:06:58,160 --> 00:07:00,320 I had studied only till the tenth grade. 103 00:07:00,400 --> 00:07:04,240 My first job interview was for the post of a peon. 104 00:07:04,320 --> 00:07:07,000 I gave the interview but didn't get the job 105 00:07:07,560 --> 00:07:10,280 - because I couldn't recognise the iPhone logo. - Oh! 106 00:07:10,360 --> 00:07:13,640 - They'd decided not to hire people who didn't look dapper. - Okay. 107 00:07:13,720 --> 00:07:16,280 When I got back from the interview, I burnt my educational certificate. 108 00:07:16,360 --> 00:07:18,680 - I decided I wasn't going to do a job. - Did you really burn it? 109 00:07:18,800 --> 00:07:20,480 - Yes, I did. - Gosh. 110 00:07:20,560 --> 00:07:24,040 I told my father to teach me how to drive. 111 00:07:24,360 --> 00:07:27,440 Dad was dejected but gave in to my wishes. 112 00:07:27,520 --> 00:07:29,320 He taught me to drive. 113 00:07:29,760 --> 00:07:32,520 I took up a job as a driver in the village for Rs. 3,500. 114 00:07:32,640 --> 00:07:35,120 It didn't suffice as I had a child. 115 00:07:35,200 --> 00:07:37,640 I had to provide for it and get it enrolled in school. 116 00:07:37,880 --> 00:07:40,600 I went to Patna and took up a job as a driver for a year. 117 00:07:40,800 --> 00:07:43,600 Over time, I thought of learning some new skills. 118 00:07:43,680 --> 00:07:46,400 I gained experience in electrical work and fire. 119 00:07:46,560 --> 00:07:48,320 Then I entered the construction line 120 00:07:48,400 --> 00:07:49,600 and managed to save some money. 121 00:07:49,680 --> 00:07:51,560 I started a company called AryaGo. 122 00:07:52,040 --> 00:07:53,480 My concept was similar 123 00:07:53,520 --> 00:07:56,880 to that of Ola and Uber that operate in Delhi, Mumbai and Bengaluru. 124 00:07:56,960 --> 00:07:58,240 We, on the other hand, operated in villages. 125 00:07:58,320 --> 00:08:00,400 Within cities. Intracity rides. 126 00:08:00,520 --> 00:08:02,400 Did you build that technology? 127 00:08:02,520 --> 00:08:03,880 I hired a team for it. 128 00:08:03,920 --> 00:08:06,360 - The team designed the application. - Did you hire the team? 129 00:08:06,440 --> 00:08:07,240 Yes. 130 00:08:07,760 --> 00:08:10,600 - Where were your engineers? - In Saharsa. 131 00:08:10,680 --> 00:08:12,720 - You had software engineers in Saharsa. - Yes. 132 00:08:12,920 --> 00:08:14,600 So, the business was operational then. 133 00:08:14,720 --> 00:08:17,880 I started it in 2016, built a team in 2020 134 00:08:17,960 --> 00:08:19,400 and when I left in 2021, 135 00:08:24,040 --> 00:08:25,880 - That's right. - Wow! 136 00:08:26,040 --> 00:08:27,960 Your total sales must have been around Rs. 60 lakhs. 137 00:08:28,040 --> 00:08:29,480 I only took 10%. 138 00:08:29,520 --> 00:08:31,040 - The sales were Rs. 80 lakhs. Yes. - 80 lakhs! 139 00:08:31,160 --> 00:08:32,960 - Fantastic! - Yes. 140 00:08:33,040 --> 00:08:36,360 You were getting bookings worth Rs. 80 lakhs per month 141 00:08:36,440 --> 00:08:39,000 - from the villages to the cities on your portal. - Yes. 142 00:08:40,160 --> 00:08:42,000 I had made small mistakes. 143 00:08:42,200 --> 00:08:45,360 I diluted 70% at an investment of Rs. 20 lakhs. 144 00:08:48,560 --> 00:08:49,920 We approached the locals 145 00:08:50,000 --> 00:08:51,600 because people weren't convinced 146 00:08:51,720 --> 00:08:53,640 a village boy could achieve something like this. 147 00:08:53,800 --> 00:08:56,520 I have a sir who I call a guru. 148 00:08:56,600 --> 00:09:00,400 He studied at IIT Kharagpur and is well-versed in Adobe. 149 00:09:00,480 --> 00:09:03,560 I sought sir's help in this matter. 150 00:09:03,680 --> 00:09:05,000 He gave me two options. 151 00:09:05,080 --> 00:09:07,400 Either I give them 10x and let them exit 152 00:09:07,480 --> 00:09:08,920 as they'd invested Rs. 20 lakhs. 153 00:09:09,440 --> 00:09:11,760 - He agreed to arrange for the funds. - Really! 154 00:09:12,040 --> 00:09:14,960 I thought it wasn't right to ask them to leave 155 00:09:15,040 --> 00:09:17,600 because people would say that I let the very people go 156 00:09:17,680 --> 00:09:21,400 who supported me from the beginning when it was time to grow. 157 00:09:21,640 --> 00:09:26,560 I thought I should come up with a new brand pan-Bihar. 158 00:09:26,640 --> 00:09:29,320 - We shouldn't stay the same entity. - This is even worse! 159 00:09:29,960 --> 00:09:32,840 - You didn't give them any returns. - Did you give them equity? 160 00:09:32,920 --> 00:09:35,280 No, that company is still operational. 161 00:09:35,440 --> 00:09:37,280 - Ah! - Those people are running it now. 162 00:09:37,360 --> 00:09:39,040 This wasn't generous in any way. 163 00:09:41,360 --> 00:09:43,680 You saw a bigger opportunity. 164 00:09:48,520 --> 00:09:50,560 It was the humane thing to do. 165 00:09:50,640 --> 00:09:51,960 How do you know him? 166 00:09:52,080 --> 00:09:53,640 He's my maternal uncle's son. 167 00:09:53,760 --> 00:09:54,680 First cousins. 168 00:09:54,760 --> 00:09:55,920 He could do that to you. 169 00:09:55,960 --> 00:09:57,800 - He'll say, "Why should I give the investor money?" - He won't. 170 00:09:57,880 --> 00:09:59,440 He could do that to us too if we invested money. 171 00:10:04,160 --> 00:10:05,880 When an investor invests money 172 00:10:06,000 --> 00:10:09,120 and becomes the owner of your company with a 70% stake, 173 00:10:09,200 --> 00:10:11,720 then the problem is no longer yours, but his. 174 00:10:11,800 --> 00:10:14,320 If we invest, we won't take the majority of the profits. 175 00:10:14,400 --> 00:10:17,240 You didn't take the majority when you partnered with him, right? 176 00:10:19,760 --> 00:10:22,680 - So, you started a new company in 2021. - In 2022, I... 177 00:10:27,600 --> 00:10:29,160 - For this one too! - For this company as well! 178 00:10:29,280 --> 00:10:30,760 This was through Mithila Angel Network. 179 00:10:30,880 --> 00:10:32,240 Through Mithila Angel Network. 180 00:10:32,360 --> 00:10:33,280 What percent? 181 00:10:33,560 --> 00:10:36,680 - That was at a valuation of Rs. 4 crores. - Whoa! 182 00:10:49,840 --> 00:10:52,480 My father drove a bus for the Roadways. 183 00:10:52,560 --> 00:10:54,800 In Bihar, the pronunciation is 'roadbez'. 184 00:10:54,880 --> 00:10:56,560 That's how it got its name. 185 00:10:56,640 --> 00:10:58,040 - RoadBez. - So that people 186 00:10:58,360 --> 00:11:01,320 - could recall the brand name. - Recall it. 187 00:11:01,400 --> 00:11:03,800 Where does RoadBez currently operate? 188 00:11:03,880 --> 00:11:06,440 We connect Patna to every town in Bihar 189 00:11:06,520 --> 00:11:08,720 and every city to Patna too. 190 00:11:08,800 --> 00:11:10,120 Don't Ola and Uber operate there? 191 00:11:10,200 --> 00:11:13,720 Ola and Uber operate in Patna, sir, but that is for city rides only. 192 00:11:13,840 --> 00:11:15,680 And the inter-city rides are two-way. 193 00:11:16,360 --> 00:11:18,160 Out of the ride requests that were coming to us, 194 00:11:18,240 --> 00:11:22,160 40% of the rides were both to and fro 195 00:11:22,280 --> 00:11:24,320 with a time gap of three to four hours. 196 00:11:24,520 --> 00:11:28,360 I thought why not associate with taxis 197 00:11:28,520 --> 00:11:29,960 who will work with us full time. 198 00:11:30,040 --> 00:11:32,240 They take the passenger via the desired route 199 00:11:32,400 --> 00:11:34,440 and return via the same route with another passenger. 200 00:11:34,560 --> 00:11:37,000 How many such people have you partnered with? 201 00:11:49,560 --> 00:11:50,560 and it was a grand success. 202 00:11:50,640 --> 00:11:52,920 Not a single taxi driver suffered a loss. 203 00:11:53,040 --> 00:11:55,480 We've made Rs. 20,000 income on every taxi on average. 204 00:11:55,560 --> 00:11:56,880 Rs. 20,000 only! 205 00:11:57,000 --> 00:11:58,680 Rs. 20,000 is our profit. 206 00:12:05,160 --> 00:12:06,760 What was last month's revenue? 207 00:12:06,840 --> 00:12:09,280 We achieved Rs. 20,000 just a week ago. 208 00:12:09,400 --> 00:12:10,640 It was Rs. 15,000 last month. 209 00:12:18,800 --> 00:12:20,240 Okay. So, you made Rs. 6 lakhs. 210 00:12:20,320 --> 00:12:24,520 You quit the last business with a momentum of Rs. 80 lakhs. 211 00:12:24,600 --> 00:12:26,960 Now, you're almost there at Rs. 70 lakhs... 212 00:12:31,840 --> 00:12:33,640 around Rs. 30 lakhs... 213 00:12:34,200 --> 00:12:37,360 - Sir, my math is a little... - Done. It's correct. 214 00:12:37,600 --> 00:12:39,760 May I show you the application, sir? 215 00:12:39,880 --> 00:12:40,920 Sure. 216 00:12:42,160 --> 00:12:45,120 This is the RoadBez mobile app which we have designed. 217 00:12:45,360 --> 00:12:47,360 - You mean you designed it. Okay. - Yes, I did. 218 00:12:47,840 --> 00:12:49,840 I have designed the graphics. 219 00:12:49,960 --> 00:12:51,360 Where did you learn this? 220 00:12:51,480 --> 00:12:52,440 On YouTube, sir. 221 00:12:53,000 --> 00:12:54,640 You learned coding on YouTube! 222 00:12:54,720 --> 00:12:56,600 The graphics are designed on XD. 223 00:12:56,800 --> 00:12:58,400 After I design it on XD, 224 00:12:58,440 --> 00:13:00,240 the developer converts it into HTML... 225 00:13:02,400 --> 00:13:03,480 No, this is live. 226 00:13:03,560 --> 00:13:04,480 - Live. - Yes. 227 00:13:04,760 --> 00:13:05,920 Fantastic! 228 00:13:06,040 --> 00:13:07,560 Sharks, suppose we feed... 229 00:13:07,640 --> 00:13:09,640 - Patna to Darbhanga. - Darbhanga. 230 00:13:11,200 --> 00:13:12,600 Ola and Uber have the same interface. 231 00:13:12,640 --> 00:13:14,080 - It's just like Uber and Ola. - It's the same. 232 00:13:14,160 --> 00:13:15,240 The icon of the car is also the same. 233 00:13:15,320 --> 00:13:18,400 They invested billions in it! 234 00:13:18,520 --> 00:13:19,840 He's asking you to wait. 235 00:13:19,920 --> 00:13:21,040 [Sharks laugh] 236 00:13:22,760 --> 00:13:26,200 Sharks, we offer One Way Taxi, Taxi Pool and Share. 237 00:13:26,320 --> 00:13:28,240 Here's where we've changed the game. 238 00:13:28,480 --> 00:13:31,680 This caters to customers who have a flight or train to catch 239 00:13:32,280 --> 00:13:34,280 and cannot change their time. 240 00:13:48,520 --> 00:13:50,880 Suppose a One Way Taxi customer 241 00:13:50,960 --> 00:13:53,360 schedules a ride from Patna to Darbhanga 242 00:13:53,480 --> 00:13:55,880 at the price of Rs. 2,486. 243 00:13:55,880 --> 00:14:00,000 Within 24 hours, if that passenger wishes to return 244 00:14:00,320 --> 00:14:01,920 from Darbhanga to Patna, 245 00:14:02,000 --> 00:14:04,880 the Taxi Pool option will be available to them with the time. 246 00:14:04,960 --> 00:14:08,200 For instance, the taxi is available on 29 September at 8:29 pm... 247 00:14:08,320 --> 00:14:09,960 - Hmm. - The fare is Rs. 1,989. 248 00:14:10,080 --> 00:14:11,640 This is cheaper. 249 00:14:11,640 --> 00:14:14,240 It won't just show the availability for Darbhanga to Patna, 250 00:14:14,360 --> 00:14:18,240 but for all the towns and villages that fall on that route. 251 00:14:18,320 --> 00:14:20,800 The first one to book gets the taxi. 252 00:14:20,920 --> 00:14:22,480 - Amazing. - Then it's no longer available. 253 00:14:22,560 --> 00:14:24,240 - Nice. - It balances out. 254 00:14:24,320 --> 00:14:25,240 That's right. 255 00:14:25,320 --> 00:14:28,240 This is some interesting creativity 256 00:14:28,320 --> 00:14:30,720 because you couldn't have replicated this on Ola and Uber. 257 00:14:30,800 --> 00:14:31,960 - It isn't available. - BlaBlaCar had this. 258 00:14:32,040 --> 00:14:32,880 Yes. 259 00:14:32,960 --> 00:14:34,720 They can copy from you. 260 00:14:34,920 --> 00:14:37,120 We'll see, sir. We're from Bihar. 261 00:14:37,280 --> 00:14:38,440 What do you mean by that? 262 00:14:38,560 --> 00:14:40,360 I have driven a taxi on those routes. 263 00:14:40,520 --> 00:14:43,840 I know the problems that taxi drivers face. 264 00:14:44,000 --> 00:14:45,320 I've lived and experienced 265 00:14:45,400 --> 00:14:47,320 the problems faced by the passengers there. 266 00:14:47,520 --> 00:14:49,640 - Great. - No one can address their woes better than us. 267 00:14:49,720 --> 00:14:50,720 True, very good. 268 00:14:50,800 --> 00:14:53,360 Two things are different. Here's the first one. 269 00:14:53,760 --> 00:14:56,160 If the ride is confirmed 270 00:14:56,480 --> 00:14:57,680 and you miss your flight, 271 00:14:57,800 --> 00:15:00,680 our company will buy you a ticket on the next available flight. 272 00:15:07,080 --> 00:15:10,080 - Gosh! This is a huge commitment. - It indeed is. 273 00:15:10,520 --> 00:15:13,400 That is solid marketing. Customers find it great. 274 00:15:13,520 --> 00:15:16,480 How this commitment helps is that our rides... 275 00:15:16,680 --> 00:15:20,040 For instance, Ms. Vineeta Singh has used BlaBlaCar. 276 00:15:20,160 --> 00:15:21,480 It is aggregated. 277 00:15:21,560 --> 00:15:23,120 The information pops up on the application. 278 00:15:23,200 --> 00:15:25,520 The driver will go only if he wants. 279 00:15:25,720 --> 00:15:28,120 When your ride with us is confirmed, 280 00:15:28,200 --> 00:15:30,720 we will send you a car on time by any means. 281 00:15:30,800 --> 00:15:33,080 We have a dedicated captain who does that. 282 00:15:33,160 --> 00:15:34,840 The captain's job starts 283 00:15:34,920 --> 00:15:37,960 from the time a customer's ride is assigned to a driver 284 00:15:38,040 --> 00:15:39,560 until the time the ride is completed. 285 00:15:39,640 --> 00:15:42,840 They must take updates from you on WhatsApp a few times. 286 00:15:42,920 --> 00:15:45,840 They check with the passengers whether they reached on time. 287 00:15:45,960 --> 00:15:47,080 - Lovely. - This is your local touch 288 00:15:47,160 --> 00:15:49,120 that you believe Ola and Uber can never incorporate. 289 00:15:49,240 --> 00:15:51,400 This reassures customers that in the case of a blunder, 290 00:15:51,480 --> 00:15:54,880 the drivers will be whacked because the ride is being monitored. 291 00:15:55,160 --> 00:15:57,440 We're giving this touch in intercity. 292 00:15:58,000 --> 00:15:59,240 Whacked! 293 00:15:59,360 --> 00:16:02,480 I got the idea of having captains from Mr. Ritesh Agarwal. 294 00:16:02,560 --> 00:16:03,640 Could you elaborate? 295 00:16:03,720 --> 00:16:07,080 When I booked a hotel, I was assigned a captain. 296 00:16:07,160 --> 00:16:08,800 When I faced a problem, 297 00:16:09,080 --> 00:16:11,920 I shared it with the captain who resolved it for me. 298 00:16:12,040 --> 00:16:13,640 I thought I should incorporate this 299 00:16:13,720 --> 00:16:16,240 because winning people's trust is really important. 300 00:16:16,360 --> 00:16:19,440 I'd rather offer fewer rides that are satisfying. 301 00:17:26,120 --> 00:17:29,040 In five years, how much revenue can your business generate 302 00:17:29,160 --> 00:17:30,600 if you operated only in and around Bihar and Patna? 303 00:17:30,680 --> 00:17:33,800 We could offer up to 2,000 rides a day. 304 00:17:33,880 --> 00:17:35,040 If we touch that number, 305 00:17:35,160 --> 00:17:38,080 we'll have a turnover of about Rs. 80 crores. 306 00:17:38,200 --> 00:17:39,840 - You're talking about commission. - Yes. 307 00:17:40,000 --> 00:17:43,960 - You claim your annual revenue will be Rs. 400 crores. - Yes. 308 00:18:20,040 --> 00:18:23,640 I get 100 orders per day on average. 309 00:18:23,720 --> 00:18:25,960 We manage to fulfil only about 35. 310 00:18:26,040 --> 00:18:28,200 - You can't fulfil them. - That's right. 311 00:18:28,280 --> 00:18:30,600 What is your monthly burn, Dilkhush? 312 00:18:42,960 --> 00:18:45,760 The company will shut down if you run out of money. 313 00:18:45,840 --> 00:18:48,960 A few generous people are there to support us 314 00:18:49,040 --> 00:18:50,400 when we need it. 315 00:18:50,560 --> 00:18:52,080 Who might they be? 316 00:18:52,400 --> 00:18:56,120 We take small loans on interest at about 1 to 1.5%. 317 00:18:56,240 --> 00:18:57,880 - So, you'll take a loan. - Yes. 318 00:18:58,560 --> 00:19:02,320 This way, your debt will gradually increase over time. 319 00:19:02,360 --> 00:19:05,560 We will be back to making profits if we borrow Rs. 5 lakhs. 320 00:19:05,640 --> 00:19:07,200 Then I will cool down. 321 00:19:07,440 --> 00:19:09,240 - After that, I... - [chuckles] 322 00:19:10,360 --> 00:19:11,680 Siddharth! Dilkhush! 323 00:19:12,160 --> 00:19:15,720 Take any mobility company in India, I have invested in it. 324 00:19:15,840 --> 00:19:18,920 I've known this space really well for the last couple of years. 325 00:19:19,120 --> 00:19:21,840 You could call it my strength or weakness, 326 00:19:22,040 --> 00:19:25,280 but it will come across as a weakness in this deal 327 00:19:25,360 --> 00:19:28,800 because I know the problems that come with scaling this business. 328 00:19:28,920 --> 00:19:31,080 You do not have the funding today. 329 00:19:31,160 --> 00:19:33,000 I am out for that reason. Good luck to you. 330 00:19:33,080 --> 00:19:33,880 Thank you. 331 00:19:34,200 --> 00:19:36,760 Okay, let me try giving you an offer. 332 00:19:38,720 --> 00:19:40,760 I think this would be a fair offer. 333 00:19:40,880 --> 00:19:46,320 Ritesh and I will offer you Rs. 20 lakhs for 5% equity. 334 00:19:47,000 --> 00:19:50,280 The rest Rs. 30 lakhs debt at 12% interest 335 00:19:50,360 --> 00:19:52,560 which you take at about 2% a month. 336 00:20:06,080 --> 00:20:07,160 I am out. 337 00:20:07,240 --> 00:20:09,320 - Best of luck and hats off to you. - Thank you. 338 00:20:09,800 --> 00:20:10,720 I'm out. 339 00:20:11,080 --> 00:20:14,600 You've already been offered a deal and the deal is good. 340 00:20:14,840 --> 00:20:17,640 Secondly, your runway is too short. 341 00:20:18,360 --> 00:20:21,240 This might go in the risky territory. 342 00:20:22,240 --> 00:20:25,240 What will you do? You make quick decisions. Tell us. 343 00:20:25,480 --> 00:20:26,720 [tense music playing] 344 00:20:30,600 --> 00:20:32,280 You are welcome. 345 00:20:32,640 --> 00:20:35,000 Do come on board because we want to grow this business 346 00:20:35,080 --> 00:20:35,960 and expand it. 347 00:20:36,040 --> 00:20:37,400 - I need your support... - Done deal! 348 00:20:45,480 --> 00:20:46,400 - Thank you, ma'am. - Thank you. 349 00:20:50,680 --> 00:20:52,000 - All right. Guys, good luck. - Well done. 350 00:20:52,120 --> 00:20:54,360 Continue to inspire the youth of Bihar. 351 00:20:54,520 --> 00:20:55,400 Good job. 352 00:20:58,280 --> 00:20:59,520 [music fades] 353 00:20:59,920 --> 00:21:02,600 [music playing] 354 00:21:32,160 --> 00:21:35,960 Before I begin my pitch, I want to show you a magic trick. 355 00:21:36,040 --> 00:21:38,440 Vineeta, if you don't mind, will you be my volunteer? 356 00:21:38,560 --> 00:21:40,800 Of course, any time! 357 00:21:41,200 --> 00:21:44,160 My magic trick will be done using this small device. 358 00:21:44,240 --> 00:21:46,800 And would you mind if I touch your arm? 359 00:21:46,880 --> 00:21:48,440 - No, not at all. - Okay. 360 00:21:49,120 --> 00:21:50,160 Hold this, please. 361 00:21:51,360 --> 00:21:52,480 Give your hand. 362 00:21:53,480 --> 00:21:55,680 - Oh, wow! - What is it? 363 00:21:55,800 --> 00:21:56,600 [beeping] 364 00:21:56,680 --> 00:21:58,200 It's crazy! 365 00:21:58,320 --> 00:21:59,320 Meaning? 366 00:21:59,400 --> 00:22:00,400 It's crazy. 367 00:22:00,480 --> 00:22:03,440 - I don't understand. - Can you touch my nose? 368 00:22:03,520 --> 00:22:05,600 Oh, wow! What is this? 369 00:22:05,680 --> 00:22:06,920 My forehead. 370 00:22:07,960 --> 00:22:09,080 Hair. 371 00:22:09,600 --> 00:22:11,360 - It didn't work. - No, it didn't. 372 00:22:14,640 --> 00:22:17,160 - I'll show you another trick. - You've turned me into a piano. 373 00:22:17,720 --> 00:22:19,680 - If you don't mind, can you hold this? - Yeah. 374 00:22:20,600 --> 00:22:23,160 [beeping] 375 00:22:25,960 --> 00:22:27,880 - Wow! This is pretty cool, man. - Can I try? 376 00:22:27,960 --> 00:22:28,720 Sure. 377 00:22:28,840 --> 00:22:31,520 [beeping] 378 00:22:32,680 --> 00:22:33,880 Oh my god! 379 00:22:34,000 --> 00:22:36,000 You're embarrassing all of us. 380 00:22:36,080 --> 00:22:37,440 This is cool. 381 00:22:37,560 --> 00:22:39,600 Thank you so much, Vineeta. 382 00:22:40,040 --> 00:22:41,520 It's very cool. 383 00:22:42,280 --> 00:22:43,720 Sharks, did you enjoy it? 384 00:22:44,640 --> 00:22:45,960 This is Queaky. 385 00:22:46,320 --> 00:22:47,240 What Queaky does is that 386 00:22:47,320 --> 00:22:49,480 when his circuit is completed like this, 387 00:22:49,560 --> 00:22:50,760 then he makes a sound. 388 00:22:50,880 --> 00:22:52,080 [beeping] 389 00:22:52,200 --> 00:22:55,600 And our body can also conduct electricity. 390 00:22:55,800 --> 00:22:58,600 That's why, when I held Queaky with both my hands, 391 00:22:58,680 --> 00:23:02,160 then the current passed through my skin and completed this circuit. 392 00:23:02,240 --> 00:23:02,920 - Wow! - Amazing! 393 00:23:03,040 --> 00:23:04,600 Through a game, 394 00:23:04,680 --> 00:23:07,400 I taught you the concept of electrical conductivity. 395 00:23:07,480 --> 00:23:10,040 You must have learnt it in school at some point. 396 00:23:10,120 --> 00:23:11,640 But who remembers it? 397 00:23:11,720 --> 00:23:14,360 But I piqued your curiosity right now. 398 00:23:14,480 --> 00:23:17,120 Then I ignited your critical thinking. 399 00:23:17,480 --> 00:23:21,040 This powerful learning technique is what we call play. 400 00:23:21,200 --> 00:23:23,160 And that is what we do at Blix. 401 00:23:23,600 --> 00:23:27,640 Sharks, I'm the third generation toymaker of my family. 402 00:23:28,120 --> 00:23:29,320 And with Blix, 403 00:23:29,400 --> 00:23:31,320 we'll take toys a step further 404 00:23:31,400 --> 00:23:33,320 and turn them into learning tools. 405 00:23:35,920 --> 00:23:37,360 Through our products, 406 00:23:37,440 --> 00:23:40,480 concepts of science and technology, like force, 407 00:23:40,800 --> 00:23:43,240 power, voltage and even 408 00:23:43,320 --> 00:23:46,640 robotics, coding and artificial intelligence can also be learnt. 409 00:23:47,040 --> 00:23:48,120 You can find our products 410 00:24:01,680 --> 00:24:04,200 use our educational kits 411 00:24:08,960 --> 00:24:11,080 to provide an equal opportunity, 412 00:24:11,160 --> 00:24:13,480 irrespective of their economic background, 413 00:24:13,560 --> 00:24:15,040 to all the kids in India 414 00:24:15,160 --> 00:24:19,120 to develop their fundamental skills and knowledge. 415 00:24:19,200 --> 00:24:21,840 And to complete this vision, 416 00:24:21,960 --> 00:24:24,000 I've come to ask you for Rs. 80 lakhs 417 00:24:40,680 --> 00:24:41,800 This is a good purpose. 418 00:24:42,400 --> 00:24:43,800 How did you get this idea? 419 00:24:43,880 --> 00:24:45,000 When I was young, 420 00:24:45,080 --> 00:24:48,240 my dad started a toy company called Zephyr Toymaker. 421 00:24:49,040 --> 00:24:50,600 And they have a product 422 00:24:50,680 --> 00:24:51,880 which is called Mechanix. 423 00:24:51,960 --> 00:24:54,760 It has nuts, bolts, metal parts which can be joined 424 00:24:55,040 --> 00:24:56,680 to build cars, toys, etc. 425 00:24:56,800 --> 00:24:58,480 That Mechanix brand 426 00:24:58,560 --> 00:25:00,440 - belongs to your dad's company? - Yes. 427 00:25:00,520 --> 00:25:02,360 Mechanix is very popular. 428 00:25:02,440 --> 00:25:05,480 Yes, ma'am. In the toy industry, it's of the largest toy companies in India 429 00:25:05,520 --> 00:25:06,520 Okay. 430 00:25:06,880 --> 00:25:09,800 I have worked in my father's business for ten years. 431 00:25:09,880 --> 00:25:13,000 So, Mechanix inspired me to become an engineer. 432 00:25:13,200 --> 00:25:16,640 I used to attend robotics competitions during class. 433 00:25:16,720 --> 00:25:18,800 That taught me more about engineering 434 00:25:18,960 --> 00:25:20,880 than what I learnt in the classroom. 435 00:25:20,880 --> 00:25:21,880 That's amazing. 436 00:25:21,920 --> 00:25:24,640 I wanted to provide kids with that experience. 437 00:25:24,760 --> 00:25:26,640 But I have a fundamental problem. 438 00:25:26,720 --> 00:25:28,400 Children should be allowed to remain children. 439 00:25:28,440 --> 00:25:31,720 They're learning in school, learning at home, isn't it a bit too much? 440 00:25:31,800 --> 00:25:33,520 I'll tell you what's happening now is 441 00:25:33,600 --> 00:25:35,840 that the toys at home 442 00:25:35,920 --> 00:25:38,080 are being replaced by PlayStation and phones. 443 00:25:38,080 --> 00:25:38,800 Yes. 444 00:25:38,880 --> 00:25:41,640 But the text books in school 445 00:25:41,720 --> 00:25:43,720 are getting replaced by these toys. 446 00:25:43,800 --> 00:25:46,960 In India, according to the National Education Policy, 447 00:25:47,000 --> 00:25:49,640 robotics is an important and integral part of the learning. 448 00:25:49,720 --> 00:25:51,280 All schools in India 449 00:25:51,360 --> 00:25:54,040 will have to set up a robotics lab sooner or later. 450 00:25:54,160 --> 00:25:57,320 It's good for schools, but as a consumer it isn't right for us. 451 00:25:57,440 --> 00:25:59,360 Sir, there are many types of children. 452 00:25:59,440 --> 00:26:02,880 We have children who are obsessed with this for 4-5 hours. 453 00:27:13,840 --> 00:27:15,920 Abbas, when did you start this company? 454 00:27:16,000 --> 00:27:17,160 Blix as a toy 455 00:27:17,280 --> 00:27:19,760 started in 2016-17. 456 00:27:19,840 --> 00:27:22,160 You started Blix under Zephyr 457 00:27:22,280 --> 00:27:24,720 - as a product for Zephyr company? - Yes. 458 00:27:24,800 --> 00:27:27,600 Since 2021, this is a separate entity. 459 00:27:27,680 --> 00:27:30,520 In 2019, I stepped down from Zephyr 460 00:27:30,600 --> 00:27:32,120 to focus completely on Blix. 461 00:27:32,200 --> 00:27:33,080 Why did you do that? 462 00:27:33,200 --> 00:27:36,920 Sir, my brother is my mentor in many ways. 463 00:27:37,000 --> 00:27:39,800 In 2019, he said, your vision is too big. 464 00:27:39,880 --> 00:27:43,720 But you're not going to be able to make this education thing come alive 465 00:27:43,840 --> 00:27:45,520 if your focus is not on that. 466 00:27:45,600 --> 00:27:48,360 And you still have an equity in Zephyr or... 467 00:27:48,440 --> 00:27:51,400 I'm now 70% owner of Blix. 468 00:27:51,480 --> 00:27:52,840 He's 20% owner. 469 00:27:52,920 --> 00:27:54,480 And 5% each for my parents. 470 00:27:54,560 --> 00:27:56,280 - And Zephyr? - Same ratio. 471 00:27:56,360 --> 00:27:58,280 I owe 20%, he owes 70%. 472 00:27:58,360 --> 00:28:00,440 But a settled big business, 473 00:28:00,520 --> 00:28:02,400 your brother has 70% in it. 474 00:28:02,480 --> 00:28:05,120 And the new business that you're building, you have 70% in it. 475 00:28:05,120 --> 00:28:06,000 Yes. 476 00:28:06,080 --> 00:28:07,720 Your brother turned out to be very smart. 477 00:28:08,560 --> 00:28:10,640 He's the real shark whom you should've brought along. 478 00:28:11,800 --> 00:28:14,160 He's actually sitting backstage, but he felt that 479 00:28:14,240 --> 00:28:15,880 because this was my product and my vision, 480 00:28:15,920 --> 00:28:16,680 he didn't want to... 481 00:28:16,680 --> 00:28:18,200 How much liquidity did you get there? 482 00:28:18,280 --> 00:28:20,760 - How much cash? - Around Rs. 7.5 crores. 483 00:28:20,840 --> 00:28:24,480 Out of that Rs. 7.5 crores, I put in Rs. 1.5 crore more in this. 484 00:28:27,240 --> 00:28:28,840 How big a company is Zephyr? 485 00:28:29,040 --> 00:28:31,160 Sir, it's revenue is about Rs. 25-30 crores. 486 00:28:31,240 --> 00:28:32,600 And how big is this company? 487 00:28:32,680 --> 00:28:34,240 This company's revenue is about Rs. 4 crores. 488 00:28:45,040 --> 00:28:47,480 Last month, we did Rs. 36 lakhs. 489 00:29:03,880 --> 00:29:05,280 are sold through my brother. 490 00:29:05,360 --> 00:29:07,160 He's my national distributor for our toys. 491 00:29:07,280 --> 00:29:09,160 So, all of these boxes 492 00:29:09,280 --> 00:29:10,480 are designed as toys 493 00:29:10,560 --> 00:29:12,840 and those bags that you see 494 00:29:12,960 --> 00:29:15,000 have a similar material, 495 00:29:15,080 --> 00:29:16,760 but you also get a curriculum with it. 496 00:29:36,360 --> 00:29:38,720 Today, my marketing spend is very low. 497 00:29:38,800 --> 00:29:42,520 And that is because we are not yet sure how to do it. 498 00:29:43,880 --> 00:29:45,840 You said that your brother is here. 499 00:29:45,840 --> 00:29:46,520 Yes. 500 00:29:46,600 --> 00:29:48,280 Why don't we meet him as well since 501 00:29:48,400 --> 00:29:50,600 he has contributed so much and continues to do so. 502 00:29:50,680 --> 00:29:51,760 My dad is also here. 503 00:29:51,840 --> 00:29:52,760 What's his name? 504 00:29:52,880 --> 00:29:55,960 My brother's name is Moiz and my dad's name is Zaheer. 505 00:30:05,280 --> 00:30:07,520 Sir, we've all used your toys. 506 00:30:07,600 --> 00:30:10,680 I have a lot of boxes of Mechanix at home. 507 00:30:10,760 --> 00:30:12,640 Did you start that business yourself, sir? 508 00:30:12,640 --> 00:30:13,280 Yes. 509 00:30:13,360 --> 00:30:16,320 I was very fortunate that both my sons came to the business. 510 00:30:29,320 --> 00:30:31,160 Sometimes, in such a situation, 511 00:30:31,240 --> 00:30:33,080 I mean, I shouldn't say this but 512 00:30:33,160 --> 00:30:35,920 if family relations go bad, 513 00:30:36,000 --> 00:30:38,880 your business depends a lot on them. 514 00:30:39,000 --> 00:30:41,480 Today, if I find a distributor 515 00:30:41,560 --> 00:30:42,760 who commits to me 516 00:30:42,840 --> 00:30:45,960 a higher sale than what Zephyr would do as a distributor, 517 00:30:46,080 --> 00:30:47,640 then I have the full right to go and 518 00:30:47,680 --> 00:30:49,360 give it to another distributor as well. 519 00:30:49,800 --> 00:30:51,760 Shall we understand your gross margins, etc. better? 520 00:31:06,720 --> 00:31:08,640 Last year, our profit was Rs. 7 lakhs. 521 00:31:36,040 --> 00:31:37,040 Thank you. 522 00:31:39,800 --> 00:31:41,600 Look, your 523 00:31:41,680 --> 00:31:43,920 movement from Mechanix to education 524 00:31:44,000 --> 00:31:45,560 is very good. 525 00:31:45,680 --> 00:31:47,000 But I have a concern. 526 00:31:47,080 --> 00:31:51,240 Your structure between Blix and Zephyr is very complex. 527 00:31:51,680 --> 00:31:53,480 50% of your distribution comes from them. 528 00:31:53,560 --> 00:31:55,600 You said that you'll go to someone else, 529 00:31:55,680 --> 00:31:59,360 but it won't be easy to switch a 50% distributor overnight. 530 00:31:59,440 --> 00:32:00,280 This is my concern. 531 00:32:00,360 --> 00:32:01,840 - One moment. - I'll make an offer. 532 00:32:01,920 --> 00:32:03,400 I don't see this as a problem. 533 00:32:03,480 --> 00:32:05,600 I think the conflict of interest comes where 534 00:32:05,720 --> 00:32:07,480 your relationship is concerned 535 00:32:07,560 --> 00:32:11,280 where the gross margin, how much you sell it for. 536 00:32:11,360 --> 00:32:14,920 What if they refuse to sell at this margin tomorrow and ask for more? 537 00:32:15,000 --> 00:32:16,160 You'll lose half your sales. 538 00:32:16,240 --> 00:32:17,520 If Zephyr says that, 539 00:32:17,640 --> 00:32:19,280 then I have all of the network in the industry. 540 00:32:19,280 --> 00:32:20,680 He gets along well with his brother. 541 00:32:20,680 --> 00:32:23,240 Everything is good. Why are you bent on making them fight? 542 00:32:23,320 --> 00:32:25,840 You're saying that what if they fight, but they're not fighting. 543 00:32:25,960 --> 00:32:29,080 Tell me one more thing, we'll have all the numbers covered. 544 00:32:29,160 --> 00:32:29,600 Yes. 545 00:32:29,640 --> 00:32:31,080 This Rs. 8 crores of revenue that you're doing, 546 00:32:31,080 --> 00:32:32,920 how much money do you make out of it? 547 00:32:33,000 --> 00:32:35,000 In these six months, that is till the end of September. 548 00:32:35,000 --> 00:32:35,680 Yes. 549 00:32:35,760 --> 00:32:37,560 We would be about Rs. 8 lakhs in profit. 550 00:32:55,680 --> 00:32:56,840 One second. 551 00:32:57,200 --> 00:32:59,600 - What are you doing? - You want to hear it? 552 00:32:59,680 --> 00:33:01,320 - I'll just answer that one question. - Can I give you an offer? 553 00:33:01,400 --> 00:33:02,880 He'll not stop. 554 00:33:02,960 --> 00:33:04,120 One second. 555 00:33:04,200 --> 00:33:07,120 Stop pressing that. Keep it away. 556 00:33:15,720 --> 00:33:16,840 - Abbas, look. - Yes. 557 00:33:16,880 --> 00:33:18,880 The conflict of interest situation is real. 558 00:33:19,000 --> 00:33:19,560 - Okay? - Yes. 559 00:33:19,640 --> 00:33:21,960 So, my offer to you comes with a condition, Abbas. 560 00:33:22,000 --> 00:33:22,360 Okay. 561 00:33:22,360 --> 00:33:24,920 If a problem arises with this company, 562 00:33:24,960 --> 00:33:26,920 then I can buy the shares of that company. 563 00:33:27,000 --> 00:33:29,400 An option to buy your shares in that company. 564 00:33:37,520 --> 00:33:38,440 I wouldn't mind that. 565 00:33:38,520 --> 00:33:40,680 Abbas, you can refuse a condition. 566 00:33:40,760 --> 00:33:44,920 But the condition is under the condition that we have a conflict. 567 00:33:45,040 --> 00:33:46,720 I'm confident of that. So... 568 00:33:46,800 --> 00:33:50,560 Very good! So my offer is Rs 40 lakhs at 4 per cent. 569 00:33:50,880 --> 00:33:52,120 - Okay. - Equity. 570 00:34:01,200 --> 00:34:03,560 Because we're not very profitable. 571 00:34:03,680 --> 00:34:04,880 It's the right decision. 572 00:34:05,560 --> 00:34:07,120 Don't worry, you will get an offer without a debt. 573 00:34:07,200 --> 00:34:09,200 No. Hello, can you let me talk? 574 00:34:20,360 --> 00:34:23,000 You said that you've invested all the money in your team. 575 00:34:23,080 --> 00:34:25,360 Can you tell us a bit about your team? 576 00:34:25,480 --> 00:34:26,800 Three strong pillars. 577 00:34:27,160 --> 00:34:31,120 For development, we have this person called Harshvardhan. 578 00:34:31,200 --> 00:34:32,840 He's an instrumentation engineer. 579 00:34:32,960 --> 00:34:35,200 And we have a powerful lady in sales. 580 00:34:35,320 --> 00:34:36,520 She kind of takes care of our sales. 581 00:34:36,600 --> 00:34:38,600 And the third person is our operations head. 582 00:34:38,680 --> 00:34:40,080 He's an ex-Capgemini. 583 00:34:40,160 --> 00:34:42,920 Abbas, we'll be back in two minutes. Please don't close on the offer. 584 00:34:43,000 --> 00:34:44,000 Do you know him? 585 00:34:44,120 --> 00:34:47,360 Of course. I always use his example in all of my pitches. 586 00:34:47,440 --> 00:34:49,000 - Oh, wow! - Yes. 587 00:34:49,080 --> 00:34:50,680 Your valuation, 588 00:34:51,200 --> 00:34:53,360 I think, is very expensive. 589 00:34:54,200 --> 00:34:57,240 But you're on Tank and have stirred up competition. 590 00:34:57,360 --> 00:34:58,560 So, we have to do something about it. 591 00:34:58,600 --> 00:35:00,640 Because you're an amazing entrepreneur. 592 00:35:01,960 --> 00:35:03,520 Vineeta will tell you what her offer is. 593 00:35:03,600 --> 00:35:05,280 The offer is Rs 80 lakhs, 594 00:35:05,400 --> 00:35:07,760 both of us will come in and we will take 5 per cent. 595 00:35:14,960 --> 00:35:16,600 Look, the right to buy 596 00:35:16,680 --> 00:35:17,880 makes me feel that 597 00:35:17,960 --> 00:35:20,520 my primary challenge that it would remain a conflict, 598 00:35:20,600 --> 00:35:22,520 I find it comforting. 599 00:35:22,840 --> 00:35:26,000 Our proposal is for you to take Rs 1 crore as investment. 600 00:35:27,640 --> 00:35:29,760 We will equally split it. 601 00:35:29,840 --> 00:35:33,200 - The valuation will remain as is. - Rs 16 crores. 602 00:35:33,320 --> 00:35:35,560 - Do the math. - 6.25 per cent. 603 00:35:56,440 --> 00:35:57,240 It will be fun now. 604 00:35:58,800 --> 00:36:01,840 Thank you so much, Peyush, and everyone else. 605 00:36:01,920 --> 00:36:04,080 Can I take a two-minute call and come? 606 00:36:04,160 --> 00:36:05,840 - Call? Your family is here. - Yeah. 607 00:36:05,920 --> 00:36:08,960 But my wife is the company's chief operating officer. 608 00:36:09,040 --> 00:36:10,040 - You didn't tell us earlier. - Oh. 609 00:36:10,120 --> 00:36:12,000 - You didn't tell us earlier. - You didn't even bring her. 610 00:36:13,720 --> 00:36:14,800 She's not a stakeholder. 611 00:36:14,880 --> 00:36:16,640 He even asked who are the key people. 612 00:36:16,760 --> 00:36:18,680 - You mentioned three people then. - Yes, Sir. 613 00:36:18,760 --> 00:36:20,280 You forgot about the chief operating officer. 614 00:36:20,360 --> 00:36:22,680 I'm really sorry. You're right. Actually, I 615 00:36:22,800 --> 00:36:24,240 meant it as 616 00:36:24,360 --> 00:36:26,360 those three people because they're not part of the family. 617 00:36:26,440 --> 00:36:28,320 So, what's your wife's role in the company? 618 00:36:28,440 --> 00:36:30,320 She handles the operations. 619 00:36:30,400 --> 00:36:32,480 Are you the CEO of the company or her? 620 00:36:32,680 --> 00:36:33,760 I'm the CEO. 621 00:36:33,840 --> 00:36:35,000 But you're only into product development. 622 00:36:35,080 --> 00:36:36,960 No, I also look after sales. 623 00:36:37,040 --> 00:36:39,360 But I'm more of an engineer. 624 00:36:39,720 --> 00:36:41,400 My wife and my sales head 625 00:36:41,480 --> 00:36:43,080 make sure I don't talk to any customers. 626 00:36:43,160 --> 00:36:45,280 Because I talk more about product 627 00:36:45,360 --> 00:36:46,760 and it doesn't close down. 628 00:36:46,840 --> 00:36:48,760 You are very passionate about this product. 629 00:36:48,920 --> 00:36:50,040 Yes. 630 00:36:50,240 --> 00:36:52,320 - Okay, you got the three offers. - Yes. 631 00:36:52,400 --> 00:36:54,240 - All the best. Come back. - I'll be back. 632 00:36:55,720 --> 00:36:58,400 He's only into the product so eventually, there's no problem 633 00:36:58,440 --> 00:36:59,560 scaling the company. 634 00:36:59,600 --> 00:37:02,400 I mean, he seems open, a very flexible. 635 00:37:02,520 --> 00:37:04,640 But he didn't tell his wife is... 636 00:37:04,720 --> 00:37:06,280 I don't think he meant it. 637 00:37:06,360 --> 00:37:09,040 It's evident that he wasn't deliberately hiding. 638 00:37:09,120 --> 00:37:12,280 But eventually then the COO is missing... 639 00:37:15,560 --> 00:37:16,920 Abbas, welcome back. 640 00:37:18,920 --> 00:37:21,720 I have a counteroffer. Rs 90 lakhs for 3 per cent. 641 00:37:28,200 --> 00:37:31,320 A valuation of Rs 30 crores is double for us. 642 00:37:31,600 --> 00:37:33,840 So, Anupam and I are out. 643 00:37:35,000 --> 00:37:38,280 Okay, we'll make you the last offer. Accept or reject it, else we're out. 644 00:37:38,400 --> 00:37:40,120 - Okay. - Ritesh and I will come as a team. 645 00:37:40,240 --> 00:37:42,080 Rs 80 lakhs for 4 per cent. 646 00:37:47,080 --> 00:37:50,840 But can I ask Peyush if he's having anything on his mind? 647 00:37:50,960 --> 00:37:52,600 You're again doing the same thing. 648 00:37:54,120 --> 00:37:55,320 Say a yes or a no. 649 00:37:55,440 --> 00:37:58,280 Who made a decision about the 3 per cent? 650 00:37:58,960 --> 00:38:00,480 - Shall we get out of it? - I did. 651 00:38:00,560 --> 00:38:02,320 How did you arrive at this number? 652 00:38:02,640 --> 00:38:04,160 - Uh, I felt that-- - Listen. 653 00:38:04,280 --> 00:38:05,960 Listen, we've been talking for a long. 654 00:38:06,040 --> 00:38:07,720 Tell me if it's a yes or a no, else I'm out. 655 00:38:10,560 --> 00:38:12,800 Give me just 5 seconds to see if 656 00:38:12,880 --> 00:38:14,160 - Peyush is-- - Okay. 657 00:38:14,200 --> 00:38:16,800 - If not, then I'm-- - I'm out. 658 00:38:22,160 --> 00:38:24,800 Aman, I have only one opportunity on Shark Tank. 659 00:38:24,920 --> 00:38:26,120 I would really 660 00:38:26,200 --> 00:38:29,320 - like to... - Why aren't you? Your original ask was 2%. 661 00:38:29,400 --> 00:38:31,880 We didn't ask for a lot. Just finish it. 662 00:38:31,960 --> 00:38:33,040 Are you still in, Sir? 663 00:38:33,120 --> 00:38:35,240 I'm in if you take it at that value or I'm out. 664 00:40:03,360 --> 00:40:06,360 [music playing] 665 00:40:29,400 --> 00:40:32,360 Sharks, after clearing my board exams finally, 666 00:40:32,560 --> 00:40:35,680 after toiling, I've secured a seat at my favourite university. 667 00:40:35,760 --> 00:40:36,680 Well done. 668 00:40:36,760 --> 00:40:39,200 I left home with my bag of dreams 669 00:40:39,320 --> 00:40:40,560 but little did I know 670 00:40:40,640 --> 00:40:44,520 that not finding good accommodation can cause so many problems for me. 671 00:40:44,640 --> 00:40:46,840 And soon, this bag of dreams 672 00:40:46,920 --> 00:40:49,000 turns into a baggage of troubles. 673 00:40:49,640 --> 00:40:50,680 The first problem 674 00:40:51,760 --> 00:40:53,920 is lack of options or brokerage. 675 00:40:54,000 --> 00:40:56,920 The second problem is unhygienic hostels. 676 00:40:57,360 --> 00:40:59,320 The third problem is bad food. 677 00:40:59,400 --> 00:41:01,040 And after all this, 678 00:41:01,160 --> 00:41:02,920 if it comes to booking cancellation, 679 00:41:03,040 --> 00:41:05,400 then there is no question of a refund. 680 00:41:05,840 --> 00:41:07,800 This industry is so unorganized 681 00:41:07,880 --> 00:41:11,080 that there is no guarantee from check-in to check-out. 682 00:41:11,320 --> 00:41:12,360 So, Sharks, 683 00:41:12,440 --> 00:41:16,360 it's time to solve students' problems with Homversity. 684 00:41:17,040 --> 00:41:17,720 [music playing] 685 00:41:32,120 --> 00:41:34,760 in booking a good accommodation. 686 00:41:56,760 --> 00:41:59,440 enrol in more than 50,000 universities, colleges, 687 00:41:59,520 --> 00:42:03,480 and stand-alone institutions. 688 00:42:03,800 --> 00:42:08,080 But only 10 to 12 per cent of the students get campus accommodation. 689 00:42:08,200 --> 00:42:08,640 Hmm. 690 00:42:08,680 --> 00:42:10,160 Filling this gap, 691 00:42:10,280 --> 00:42:12,560 and organizing this industry at the helm of technology, 692 00:42:12,600 --> 00:42:14,360 and taking it to the global standards. 693 00:42:14,440 --> 00:42:15,880 It's Homversity's vision. 694 00:42:25,280 --> 00:42:27,640 Because hostels mean Homversity. 695 00:42:27,800 --> 00:42:28,760 Welcome, Saurav. 696 00:42:28,840 --> 00:42:29,760 Thank you, sir. 697 00:42:29,840 --> 00:42:31,240 - Tell me something. - Yes, sir. 698 00:42:31,400 --> 00:42:33,080 You used a few heavy words there. 699 00:42:33,160 --> 00:42:35,840 - "Smart digital hostel." - Yes. 700 00:42:36,200 --> 00:42:39,800 How can a hostel be digital? One has to live in a house. 701 00:42:39,920 --> 00:42:43,040 When we speak of digital hostels, we are referring to 702 00:42:43,120 --> 00:42:44,720 every insight and piece of information 703 00:42:44,800 --> 00:42:46,760 a student might need to make a decision, 704 00:42:46,840 --> 00:42:48,240 because booking a hostel 705 00:42:48,320 --> 00:42:50,000 is different than booking a hotel, sir. 706 00:42:50,480 --> 00:42:54,440 We need to fix every data parameter from the front-end to the back-end. 707 00:42:54,600 --> 00:42:56,400 Overall, the efficiency is improved. 708 00:42:56,480 --> 00:42:59,320 - So, you've digitalised the experience. - Yes, sir. 709 00:43:05,920 --> 00:43:07,800 - Right? You didn't give an example of that. - Sir... 710 00:43:07,920 --> 00:43:09,360 - Let me give you an example, sir. - Okay. 711 00:43:09,440 --> 00:43:11,200 Every time we visit a hostel, 712 00:43:11,280 --> 00:43:12,680 the students come to us saying, 713 00:43:12,760 --> 00:43:14,480 "Sir, we told them two days ago" 714 00:43:14,560 --> 00:43:16,360 "that there is no water in the tap, the geyser doesn't work," 715 00:43:16,440 --> 00:43:18,920 "and the bedsheet is stained but no one has come to clean it." 716 00:43:19,680 --> 00:43:20,640 The problem was 717 00:43:20,760 --> 00:43:22,960 owners visit the property once a month. 718 00:43:23,040 --> 00:43:24,520 The property is run by managers. 719 00:43:24,600 --> 00:43:27,080 So, we started providing maintenance services. 720 00:43:27,200 --> 00:43:29,360 Our app has a section called Service Requests. 721 00:43:29,440 --> 00:43:31,200 The app is designed to recommend on its own. 722 00:43:31,320 --> 00:43:32,840 If your fan stops working, 723 00:43:32,920 --> 00:43:35,200 it will automatically send a message to the concerned person 724 00:43:35,320 --> 00:43:36,640 - to repair it. - Good. 725 00:43:36,760 --> 00:43:37,800 - Good. - It's very well connected. 726 00:43:37,920 --> 00:43:40,360 - There's a company called Prustel Living. - Okay. 727 00:43:40,760 --> 00:43:42,000 There's one called Zostel. 728 00:43:42,120 --> 00:43:43,320 - Zostel... - Earlier... 729 00:43:43,400 --> 00:43:45,920 - Zostels are backpacker hostels for travellers. - Yes. 730 00:43:46,040 --> 00:43:48,480 No. This company provides student housing. 731 00:43:48,560 --> 00:43:50,400 - Yes, sir. There are many. - There are many, Aman. 732 00:43:50,520 --> 00:43:51,440 - Stanza Living. - Yes. 733 00:43:51,520 --> 00:43:54,560 When we talk about these companies, they're operators. 734 00:43:54,640 --> 00:43:56,120 Their properties are listed on Homversity too. 735 00:43:56,200 --> 00:43:58,160 They're operators and you're the marketplace. 736 00:43:58,240 --> 00:44:00,040 Yes. We're a SaaS-based marketplace. 737 00:44:00,160 --> 00:44:01,000 Tell me something, Saurav. 738 00:44:28,400 --> 00:44:30,560 What problem are you trying to solve? 739 00:44:30,920 --> 00:44:35,400 Are you providing an organised hostel like OYO does 740 00:44:35,920 --> 00:44:39,880 - or are you merely helping with finding a hostel? - A platform. 741 00:44:46,280 --> 00:44:48,040 Sir, suppose someone wants to start a hotel 742 00:44:48,160 --> 00:44:50,760 or a restaurant in India, there are set guidelines. 743 00:44:50,880 --> 00:44:52,640 There are no guidelines for hostels, sir. 744 00:44:52,880 --> 00:44:56,000 One room can have five beds or even ten 745 00:44:56,080 --> 00:44:58,240 - depending on the mood of the property owner. - True. 746 00:44:58,520 --> 00:45:02,480 When I was in university, we came up with a form. 747 00:45:06,000 --> 00:45:07,160 I was in my third year 748 00:45:07,240 --> 00:45:09,920 - and when we got funding... - You started Homversity. 749 00:45:10,000 --> 00:45:11,000 Yes. 750 00:45:11,440 --> 00:45:13,960 We started with 90 parameters and gradually added more. 751 00:45:14,040 --> 00:45:16,480 Today, Homversity has 145 parameters. 752 00:45:21,680 --> 00:45:22,920 On the basis of that, 753 00:45:23,000 --> 00:45:25,840 a hostel needs to surpass at least 75% 754 00:45:25,920 --> 00:45:27,160 to get onboarded on our platform. 755 00:45:27,280 --> 00:45:30,120 Look. He started the business 756 00:45:30,200 --> 00:45:33,280 because the ratings from trip advisors were not improving. 757 00:45:33,560 --> 00:45:35,080 You're claiming the same thing, 758 00:45:35,160 --> 00:45:37,080 that your quality is improving based on the ratings. 759 00:45:37,200 --> 00:45:38,840 Demonstrate that to us. 760 00:45:39,960 --> 00:45:42,160 Sir, this is our application. Okay? 761 00:45:42,520 --> 00:45:45,160 Coming to the first question which is if you need a hostel or a PG. 762 00:45:45,240 --> 00:45:47,720 On the top, it has 'Get me a hostel' or 'Get me a PG'. 763 00:45:47,840 --> 00:45:49,320 Select 'Get me a hostel'. 764 00:45:49,800 --> 00:45:52,080 You can use the filter to search for hostels near the university. 765 00:45:52,160 --> 00:45:53,400 For example, I've chosen Dehradun. 766 00:45:55,240 --> 00:45:56,880 If I type in UPES, 767 00:45:57,000 --> 00:45:59,520 - it will pull up all the hostels in its vicinity. - Okay. 768 00:46:02,840 --> 00:46:04,320 I don't see the review score. 769 00:46:04,440 --> 00:46:07,360 The review scores are not live yet, they're on the backend. 770 00:46:07,440 --> 00:46:10,000 - Your main proposition was reviews.. - Reviews and ratings. 771 00:46:10,080 --> 00:46:10,960 They're missing. 772 00:46:11,080 --> 00:46:13,480 Sir, the reviews and ratings do reflect on our website. 773 00:46:13,600 --> 00:46:15,360 We just launched the app two months ago. 774 00:46:15,440 --> 00:46:17,400 We've just got early access. The bookings happen on the website. 775 00:46:17,480 --> 00:46:19,960 - People normally search on the website. - Yes. 776 00:46:20,600 --> 00:46:21,960 We upload the photos of all the sections. 777 00:46:22,040 --> 00:46:25,040 The mess, kitchen, washrooms and other rooms 778 00:46:25,160 --> 00:46:26,280 which is done by our team. 779 00:46:26,400 --> 00:46:27,840 Your photo is current. 780 00:46:28,000 --> 00:46:30,160 What if the place is a mess after a month? 781 00:46:30,280 --> 00:46:32,320 - You wouldn't have those. - They're updated on the website. 782 00:46:32,400 --> 00:46:33,960 How frequently do you click pictures? 783 00:46:34,080 --> 00:46:35,800 Every three months as of now. 784 00:46:35,920 --> 00:46:36,960 Now, it is asking me 785 00:46:37,080 --> 00:46:40,880 whether I want to book on a quadruple sharing basis or triple. 786 00:46:40,960 --> 00:46:42,960 Now, we need to select the duration. 787 00:46:43,080 --> 00:46:45,400 So, we ask them to book for at least a month. 788 00:46:45,480 --> 00:46:47,120 Rs. 13,000 per month! 789 00:46:47,280 --> 00:46:48,360 Yes, ma'am. 790 00:46:48,520 --> 00:46:50,040 - It's the rent. Yes, ma'am. - For a hostel! 791 00:46:50,120 --> 00:46:51,680 Does the full payment need to be made? 792 00:46:51,800 --> 00:46:53,640 It has the option to make a partial payment. 793 00:46:53,720 --> 00:46:55,680 Rs. 5,000 or whatever the booking amount is. 794 00:46:55,760 --> 00:46:57,160 The entire money flows through us. 795 00:46:57,400 --> 00:46:58,920 There are loads of housing websites 796 00:46:59,240 --> 00:47:01,520 on which you see photos 797 00:47:01,600 --> 00:47:03,440 and buy properties or take them on rent. 798 00:47:03,880 --> 00:47:07,240 Your USP is that you're allowing sharing, 799 00:47:07,880 --> 00:47:10,040 and a monthly booking or a two-monthly booking. 800 00:47:10,320 --> 00:47:12,440 You say that you update your photos regularly 801 00:47:12,560 --> 00:47:14,920 - which other websites do not do. - That's right. 802 00:47:15,000 --> 00:47:16,920 Let me tell you our biggest USP. 803 00:47:17,000 --> 00:47:18,240 When we collect data, 804 00:47:18,320 --> 00:47:20,600 we don't ask if it's a veg hostel or a non-veg hostel. 805 00:47:20,800 --> 00:47:21,880 We ask this. 806 00:47:22,000 --> 00:47:24,680 If the student is in college, where will he have lunch? 807 00:47:24,760 --> 00:47:26,360 Will he come back or will the food van deliver it? 808 00:47:26,440 --> 00:47:27,800 Whether they serve veg and non-veg food, 809 00:47:27,880 --> 00:47:29,320 what's the frequency of menu change, 810 00:47:29,440 --> 00:47:31,240 what about milk provision... Everything. 811 00:47:31,440 --> 00:47:32,760 How do you make money? 812 00:47:32,920 --> 00:47:35,920 We have two ways currently and the third was recently introduced. 813 00:47:36,000 --> 00:47:37,480 The first is commission from bookings 814 00:47:47,800 --> 00:47:50,520 Initially, we used to have leakages in Kota in the beginning. 815 00:47:50,600 --> 00:47:53,160 We call them leakages in the case where the booking is bypassed. 816 00:47:53,480 --> 00:47:54,840 Suppose the booking is bypassed. 817 00:47:54,960 --> 00:47:58,440 Both the owner and student say that they didn't place the booking. 818 00:47:58,560 --> 00:48:00,320 If it's a walk-in customer, 819 00:48:00,400 --> 00:48:01,880 even then the check-in happens on our app. 820 00:48:01,960 --> 00:48:03,640 - That helps prevent a bypass. - Okay. 821 00:48:03,720 --> 00:48:05,760 So, our agenda for the next eight months is 822 00:48:26,080 --> 00:48:27,280 Where do you currently stand 823 00:48:27,360 --> 00:48:28,880 and how far will you take the business? 824 00:48:29,680 --> 00:48:32,720 Sir, starting January 2022, we had our proper first year 825 00:48:38,640 --> 00:48:41,720 we raised bookings worth almost Rs. 6 crores on our platform. 826 00:48:42,000 --> 00:48:43,880 We hadn't monetised it back then. 827 00:48:44,080 --> 00:48:45,200 In April this year, 828 00:48:45,360 --> 00:48:49,400 we'll be getting close to bookings worth Rs. 30 crores on our platform. 829 00:49:01,440 --> 00:49:02,520 How is seasonality not there? 830 00:49:02,640 --> 00:49:04,880 All the colleges start between June to September. 831 00:49:05,000 --> 00:49:07,640 It has to peak then. Seasonality can't be disregarded. 832 00:49:08,360 --> 00:49:10,920 In every city that has colleges, 833 00:49:11,040 --> 00:49:13,080 for example, Dehradun or Kota, 834 00:49:13,200 --> 00:49:15,680 our average booking period lasts from three to six months. 835 00:49:15,800 --> 00:49:17,400 If we talk about Delhi and Bengaluru, 836 00:49:17,480 --> 00:49:19,080 the average booking duration there is one month. 837 00:49:19,160 --> 00:49:20,360 They switch after a month, 838 00:49:20,440 --> 00:49:22,520 or after a month, they decide to go elsewhere. 839 00:49:22,680 --> 00:49:24,320 So, the seasonality gets counterbalanced. 840 00:49:24,400 --> 00:49:26,760 Why? Isn't this a retention issue? 841 00:49:27,440 --> 00:49:29,080 - Tell me something. - The churn rate is high. 842 00:49:29,200 --> 00:49:30,720 What's the average duration 843 00:49:30,840 --> 00:49:33,320 a student spends in one of your hostels? 844 00:49:33,400 --> 00:49:36,480 Ma'am, defining this in one line is a little difficult 845 00:49:36,560 --> 00:49:38,160 - because... - Answer in one line. 846 00:49:38,760 --> 00:49:40,480 If I talk about Dehradun, 847 00:49:40,560 --> 00:49:42,560 the average duration is six months to a year. 848 00:49:42,760 --> 00:49:46,040 For the rest, the average duration is three months. 849 00:49:50,240 --> 00:49:53,160 the problem of hostel living among students, 850 00:49:53,280 --> 00:49:55,600 then your retention span should be in years. 851 00:49:55,680 --> 00:49:58,880 - We've observed that students try to move in with friends. - Yes. 852 00:49:58,960 --> 00:50:00,440 - True. - This is a major factor, ma'am. 853 00:50:00,520 --> 00:50:02,160 That's what she is saying. 854 00:50:02,240 --> 00:50:04,000 - Precisely. - Ultimately, it comes to this. 855 00:50:04,080 --> 00:50:05,160 There is no confusion. 856 00:50:05,280 --> 00:50:07,920 Three months is your average duration on the platform. 857 00:50:08,000 --> 00:50:09,040 - Yes or no? - Yes, sir. 858 00:50:09,120 --> 00:50:10,800 - And that's... - It's a retention problem. 859 00:50:10,960 --> 00:50:11,800 Yes. 860 00:50:12,320 --> 00:50:13,840 Visit to booking. 861 00:50:13,920 --> 00:50:15,880 - Yes, sir. - The customer goes to the site, the visit is done. 862 00:50:15,960 --> 00:50:18,320 Booking means that he paid you an advance and booked the place. 863 00:50:18,920 --> 00:50:20,480 What was your conversion earlier? 864 00:50:20,600 --> 00:50:22,120 It was close to 30%, sir. 865 00:50:22,320 --> 00:50:23,200 30%! 866 00:50:24,000 --> 00:50:25,760 - Yes, 30. - Not possible, bro. 867 00:50:25,920 --> 00:50:28,440 - Let me tell you... - That's one lakh bookings a month. 868 00:50:28,520 --> 00:50:29,880 Should I give you the booking figures? 869 00:50:30,000 --> 00:50:31,600 - Visits... - Okay. 870 00:50:31,800 --> 00:50:34,240 Look, clear this... Here's what is happening. 871 00:50:34,480 --> 00:50:36,360 You're saying so much so quickly 872 00:50:36,440 --> 00:50:38,560 - that we cannot close even a single point. - Yes. 873 00:50:38,720 --> 00:50:42,080 Let me tell you this in very clear terms. 874 00:50:42,760 --> 00:50:44,160 There's a metric in place. 875 00:50:44,520 --> 00:50:45,720 Give me the number of visitors. 876 00:50:45,800 --> 00:50:49,520 - You could quote unique visitors or total visitors. - Total. 877 00:50:49,720 --> 00:50:52,280 And the booking conversion. 878 00:50:52,360 --> 00:50:54,200 - I'll talk about all visits to booking. - Okay. 879 00:50:54,280 --> 00:50:57,080 From the point of search to the final booking, 880 00:50:57,160 --> 00:50:58,880 - that is quite a low number, sir. - Tell me. 881 00:50:59,000 --> 00:51:00,040 Around 10%. 882 00:51:05,160 --> 00:51:06,800 It's just not possible. Anyway. 883 00:51:11,280 --> 00:51:13,160 Our total monthly cost is Rs. 8 lakhs. 884 00:51:20,640 --> 00:51:24,680 We project our top line or bookings 885 00:51:24,760 --> 00:51:26,560 to be around Rs. 45 crores. 886 00:51:26,760 --> 00:51:27,680 That was because 887 00:51:27,760 --> 00:51:30,520 we would have retained the properties 888 00:51:30,600 --> 00:51:33,240 we were going to add this year by maintaining good relations. 889 00:51:44,400 --> 00:51:46,440 I can't quote the exact amount, 890 00:51:46,560 --> 00:51:48,640 but we will break even really soon. 891 00:51:48,800 --> 00:51:52,760 Based on our profitability, our burn should be 892 00:51:53,360 --> 00:51:55,960 around 2.5 crores. 893 00:51:56,040 --> 00:51:58,960 We'll make some profit. Around Rs. 2 crores. 894 00:52:00,080 --> 00:52:01,640 For hostel owners, 895 00:52:01,960 --> 00:52:03,400 this at scale 896 00:52:03,480 --> 00:52:06,280 with a three-month retention and seasonality. 897 00:52:06,440 --> 00:52:09,280 This isn't sensible in my opinion. 898 00:52:10,000 --> 00:52:10,800 I'm out. 899 00:52:10,880 --> 00:52:13,160 I want to tell you 900 00:52:13,240 --> 00:52:15,200 that you speak incessantly 901 00:52:15,520 --> 00:52:16,880 and fail to listen at times. 902 00:52:17,000 --> 00:52:19,280 There's a reason we have two ears and one mouth. 903 00:52:19,440 --> 00:52:23,440 At times, you get so excited about your own project, 904 00:52:23,560 --> 00:52:27,040 you don't focus on what others are saying. 905 00:52:27,120 --> 00:52:29,480 That's just feedback because it's very much like me. 906 00:52:30,200 --> 00:52:33,320 The biggest problem here is, whosoever makes a marketplace 907 00:52:33,520 --> 00:52:36,480 pumps in not hundreds of millions of dollars, 908 00:52:36,760 --> 00:52:38,360 - but billions of dollars... - Billions. 909 00:52:38,800 --> 00:52:40,240 To build a large business. 910 00:52:41,080 --> 00:52:43,320 You speak of profitability. 911 00:52:43,440 --> 00:52:44,400 That's just not possible. 912 00:52:44,480 --> 00:52:46,240 - Which one... - It's impossible. 913 00:52:47,640 --> 00:52:50,680 Secondly, I asked you about your conversion metrics. 914 00:52:51,040 --> 00:52:52,400 You did not know. 915 00:52:52,600 --> 00:52:55,320 You should be honest and say upfront you don't know. 916 00:52:55,880 --> 00:52:58,720 Whether it's your energy or something else... 917 00:52:58,800 --> 00:53:01,280 You're a smooth-talker and are quick to answer, 918 00:53:02,000 --> 00:53:04,160 - but you can't build a business on words, my friend. - Of course. 919 00:53:04,280 --> 00:53:08,480 I believe you have a goal and possess the energy too, 920 00:53:09,040 --> 00:53:11,280 but you lack business maturity. 921 00:53:11,520 --> 00:53:13,200 So, I am out. Good luck to you. 922 00:53:13,440 --> 00:53:14,280 Okay. 923 00:53:15,920 --> 00:53:16,840 The problem is big. 924 00:53:16,920 --> 00:53:18,800 I am also scared of this industry. 925 00:53:19,560 --> 00:53:21,800 There have been many players until now. 926 00:53:21,960 --> 00:53:24,120 As I mentioned OYO and others. 927 00:53:24,200 --> 00:53:25,480 I'm scared of this industry 928 00:53:25,560 --> 00:53:27,360 because I don't know when it will be profitable. 929 00:53:27,840 --> 00:53:28,880 The chances are bleak. 930 00:53:29,720 --> 00:53:31,080 You have a lot of energy. 931 00:53:31,160 --> 00:53:33,400 Whether you have two ears and one mouth, 932 00:53:33,480 --> 00:53:35,880 draw the energy wherever it is coming from. 933 00:53:35,960 --> 00:53:37,240 That's your plus point. 934 00:53:37,320 --> 00:53:38,920 Energy needs to be directed though. 935 00:53:39,880 --> 00:53:40,760 I am out. 936 00:53:41,840 --> 00:53:43,680 I believe you're getting distracted. 937 00:53:43,880 --> 00:53:46,480 The pressure of making revenue is getting to you. 938 00:53:54,960 --> 00:53:55,880 I'm out too. 939 00:54:01,760 --> 00:54:04,400 - You should think hard about how you will solve this problem. - Yes. 940 00:54:04,480 --> 00:54:05,320 Sure, sir. 941 00:54:05,840 --> 00:54:08,440 I believe that instead of targeting 100 cities 942 00:54:08,680 --> 00:54:11,480 and acquiring loads of hostels, 943 00:54:11,640 --> 00:54:13,000 you should target just two cities. 944 00:54:13,120 --> 00:54:15,440 Become the king of Kota 945 00:54:15,600 --> 00:54:17,960 - or the leader of Dehradun. - Okay. 946 00:54:18,120 --> 00:54:20,600 That, in my opinion, has a higher chance of success. 947 00:54:20,760 --> 00:54:22,360 Given the stage at which your business is, 948 00:54:22,560 --> 00:54:25,480 it is unclear to me whether after three years 949 00:54:25,760 --> 00:54:27,560 you wish to be a SaaS player, 950 00:54:27,720 --> 00:54:30,840 - a marketplace or a brand. - Yes. 951 00:54:30,920 --> 00:54:32,280 For that reason, I am out. 952 00:54:32,520 --> 00:54:34,920 - Best wishes to you. - Thank you. 953 00:54:35,000 --> 00:54:37,440 I hope you become the king of Dehradun or Kota soon. 954 00:54:58,360 --> 00:54:59,440 - Thank you, sir. - Awesome. 955 00:55:00,280 --> 00:55:01,640 [poignant music playing] 956 00:56:26,840 --> 00:56:28,000 Today's question 957 00:56:28,200 --> 00:56:30,640 is by Nehal Athani from Belgaum. 958 00:56:30,960 --> 00:56:34,560 'Ma'am, I am part of my family's hardware business' 959 00:57:36,400 --> 00:57:37,240 Got it.