1 00:00:10,000 --> 00:00:11,960 [thrilling music playing] 2 00:00:25,080 --> 00:00:27,480 [theme music playing] 3 00:00:56,080 --> 00:00:58,880 Karibo Cosmetics is a customised lipstick brand 4 00:01:34,880 --> 00:01:37,640 Nowadays, we might get a perfect life partner 5 00:01:37,720 --> 00:01:40,600 but we don't get a perfect shade of makeup. 6 00:01:41,160 --> 00:01:42,840 That's the reason we want to make Karibo 7 00:01:42,920 --> 00:01:47,560 a brand which helps everyone customise all their beauty products 8 00:01:47,640 --> 00:01:49,720 including lipsticks and blush and get the shade they want. 9 00:01:49,800 --> 00:01:52,400 Our ask is Rs. 80 lakhs for 5% equity. 10 00:01:59,480 --> 00:02:00,400 - Absolutely! - Yes! 11 00:02:00,480 --> 00:02:03,640 Is it okay if I call my technician Nehal Jain here? 12 00:02:03,720 --> 00:02:05,080 Yes, sure. 13 00:02:05,160 --> 00:02:06,680 How did you get this idea? 14 00:02:11,560 --> 00:02:15,600 We had to link an influencer with a cosmetic brand 15 00:02:15,680 --> 00:02:17,480 and we conducted a brainstorming session. 16 00:02:17,560 --> 00:02:20,440 The basic idea of the brainstorming session 17 00:02:20,520 --> 00:02:23,880 was that we were giving them a unique identity. 18 00:02:24,000 --> 00:02:26,160 While discussing, we had a thought 19 00:02:26,240 --> 00:02:30,000 that we present everything as a unique identity 20 00:02:30,080 --> 00:02:33,480 but we compel customers to pick shades from a rack. 21 00:02:33,560 --> 00:02:35,120 So why not just let them create 22 00:02:35,200 --> 00:02:38,840 their own product so they have the freedom to make their own product. 23 00:02:39,960 --> 00:02:41,240 In which year did you launch? 24 00:02:41,360 --> 00:02:43,640 We launched in October 2020. 25 00:02:47,880 --> 00:02:50,720 Two Australian sisters started it. 26 00:02:50,800 --> 00:02:53,400 It moved to the US as a franchise. 27 00:02:53,520 --> 00:02:55,680 I think it wasn't a success in the US. 28 00:02:55,760 --> 00:02:58,440 Then it was renamed BITE Beauty. 29 00:02:58,520 --> 00:03:00,440 Later, BITE Beauty also shut down. 30 00:03:01,240 --> 00:03:02,720 - Yes. BITE Beauty was also discontinued. - It shut down. 31 00:03:02,800 --> 00:03:04,280 Why do you think it wasn't a success? 32 00:03:04,400 --> 00:03:07,160 If a single product is store-based, 33 00:03:07,240 --> 00:03:10,480 it is difficult to travel for just one experience. 34 00:03:10,560 --> 00:03:12,760 So we decided to do this business 35 00:03:12,840 --> 00:03:15,120 for different events. 36 00:03:15,200 --> 00:03:19,560 We get around 300 footfalls automatically 37 00:03:19,640 --> 00:03:22,120 and we get invited to more events through word-of-mouth. 38 00:03:22,200 --> 00:03:25,400 The events could be small-scale or large-scale. 39 00:03:39,080 --> 00:03:41,520 We mostly do it at private events. 40 00:03:47,440 --> 00:03:49,160 What is the experience like? 41 00:03:49,280 --> 00:03:51,280 - What do you exactly do? - You'll see the demo. 42 00:03:51,360 --> 00:03:55,400 We would love it if you could come and customise your own lipstick. 43 00:03:55,800 --> 00:03:56,960 - Vineeta, let's go. - Do you want to make one? 44 00:03:57,040 --> 00:03:58,680 - You may make it. We'll observe. - Okay. 45 00:03:58,800 --> 00:04:01,440 She has ample experience in lipsticks but I don't have much. 46 00:04:01,520 --> 00:04:03,520 I'm fond of lipsticks, you see. 47 00:04:04,560 --> 00:04:05,600 Let me enlighten you. 48 00:04:05,720 --> 00:04:08,720 When I decided to start the makeup business, 49 00:04:08,800 --> 00:04:11,520 I made lipsticks at home 50 00:04:11,600 --> 00:04:14,320 after buying pigments for the first time. 51 00:04:14,400 --> 00:04:16,080 - Wow! - I can relate to it. 52 00:04:17,000 --> 00:04:19,960 These are the colours which are food pigments. 53 00:04:20,040 --> 00:04:21,840 These are the bases. 54 00:04:21,960 --> 00:04:24,800 They are of two types. One is for liquid lipsticks 55 00:04:24,880 --> 00:04:26,080 and the other is for the bullet lipsticks. 56 00:04:26,160 --> 00:04:29,880 The next ingredients are pure essential oils. 57 00:04:29,960 --> 00:04:30,760 Again... 58 00:04:30,840 --> 00:04:32,560 - It's for the fragrance. - Yes. It's for fragrance. 59 00:04:32,640 --> 00:04:35,120 [ethereal music playing] 60 00:04:35,600 --> 00:04:36,680 - This? - This one. 61 00:04:36,760 --> 00:04:37,560 Thank you! 62 00:04:37,640 --> 00:04:39,320 Ritesh, this is your lipstick. 63 00:04:39,400 --> 00:04:40,880 Is it for me or my wife? 64 00:04:41,000 --> 00:04:43,280 - It's for both. You may use the lip balm. - Is it a lip balm? 65 00:04:43,400 --> 00:04:44,640 - Yes. - I'll try the lip balm. 66 00:04:44,720 --> 00:04:47,120 - Yes, please, sir! - Your packaging is impressive. 67 00:04:47,200 --> 00:04:49,600 - Peyush, this is your package. - Thank you. 68 00:04:49,720 --> 00:04:51,200 - Thank you so much. - Thank you. 69 00:04:51,280 --> 00:04:53,880 [ethereal music playing] 70 00:04:55,440 --> 00:04:57,200 Which shades do you prefer? 71 00:04:57,280 --> 00:04:58,760 Usually, what do you prefer? 72 00:04:58,840 --> 00:05:02,320 Pinkish and nudes. Not bright lipsticks. 73 00:05:02,440 --> 00:05:03,640 Okay. Perfect! 74 00:05:04,520 --> 00:05:08,080 - Ma'am, in the meantime, you may choose the essential oil. - Yes. 75 00:05:08,800 --> 00:05:11,000 I chose mine. Grapefruit. 76 00:05:11,080 --> 00:05:12,280 Done. 77 00:05:12,880 --> 00:05:15,560 - Would you like to add your essential oil yourself? - Okay. 78 00:05:17,280 --> 00:05:19,040 I have a feeling that I'm in a science lab. 79 00:05:20,400 --> 00:05:22,440 - So fun! - Chemistry! 80 00:05:22,520 --> 00:05:24,840 Ma'am, it's your turn to blend your own lipstick. 81 00:05:24,920 --> 00:05:26,600 - That's the fun of making it yourself. - Yes. 82 00:05:26,680 --> 00:05:28,760 - So I have to mix it properly? - Yes. 83 00:05:30,720 --> 00:05:33,600 - It's a pretty colour. Too pretty! - Yes. 84 00:05:33,720 --> 00:05:34,960 It goes with your sari. 85 00:05:35,040 --> 00:05:36,120 Yes. 86 00:05:36,320 --> 00:05:38,200 - Have I blended it enough? - Yes. 87 00:05:38,280 --> 00:05:41,040 Okay! DIY lipstick! There you go! 88 00:05:41,120 --> 00:05:42,240 Thank you! 89 00:05:43,960 --> 00:05:47,520 So you carry this cute setup to private parties. 90 00:05:47,600 --> 00:05:50,600 I think it must be a craze at teenage girls' birthday parties. 91 00:05:50,720 --> 00:05:54,240 Teenaged girls, moms, and during baby showers. 92 00:05:54,320 --> 00:05:57,520 - It must be fun in baby showers. - It's a hit during weddings. 93 00:05:57,600 --> 00:05:59,080 - There you go. - Apply it to your lips. 94 00:06:02,440 --> 00:06:03,600 It feels nice. 95 00:06:03,680 --> 00:06:05,200 It's like a food live station. 96 00:06:05,280 --> 00:06:07,160 - Yes. - We see the food in action. 97 00:06:09,360 --> 00:06:11,240 Vineeta, did I apply it right? 98 00:06:11,320 --> 00:06:13,880 - It's nice. Actually, it suits you. - It looks nice, right? 99 00:06:14,000 --> 00:06:15,360 - There you go! - Better than the previous one. 100 00:06:15,440 --> 00:06:17,240 - It suits you. - It's quite creamy and nice. 101 00:06:17,320 --> 00:06:20,320 - I feel rather productive. I made a lipstick. Thank you! - Yes. 102 00:06:20,440 --> 00:06:21,800 - Your first lipstick. - I'm glad you liked it. 103 00:06:23,640 --> 00:06:25,520 Now this lipstick will melt. 104 00:06:25,600 --> 00:06:30,040 After it melts, we'll pour it into the mould, freeze it for a while, 105 00:06:30,120 --> 00:06:32,160 and then it'll be ready to be handed over. 106 00:06:34,120 --> 00:06:35,840 This one is ready. We can show this to you. 107 00:06:35,920 --> 00:06:37,160 This is the mould to freeze. 108 00:06:37,240 --> 00:06:38,920 - They prepared it in advance. - Yes. 109 00:06:39,680 --> 00:06:41,680 [sombre music playing] 110 00:06:45,120 --> 00:06:46,280 - There it is. - Nice! 111 00:06:46,360 --> 00:06:48,280 - Super cute! - It's like magic. 112 00:06:48,600 --> 00:06:49,680 Super cute! 113 00:06:51,240 --> 00:06:54,200 This is how lipsticks are made. There's also a company called Sugar. 114 00:06:55,160 --> 00:06:57,280 Have you ever tried Sugar lipsticks? 115 00:06:57,360 --> 00:06:59,160 - We use Karibo. - Did you like them? 116 00:06:59,280 --> 00:07:02,080 She's very clear. "I use my own brand." 117 00:07:02,600 --> 00:07:04,960 [joyful music playing] 118 00:07:08,080 --> 00:07:09,560 - It was a nice experience. Thank you! - Thank you. 119 00:07:09,640 --> 00:07:11,520 Thank you so much. 120 00:07:11,640 --> 00:07:13,800 Can you please tell me about the events you have done? 121 00:07:18,320 --> 00:07:20,880 We display our stalls mostly during the wedding season. 122 00:07:20,960 --> 00:07:23,960 It includes carnivals, 'sangeet' and 'haldi' ceremonies. 123 00:07:24,720 --> 00:07:26,960 During the remaining eight months, 124 00:07:27,040 --> 00:07:29,640 we display at engagement parties, 125 00:07:29,720 --> 00:07:31,560 bachelorette parties, birthday parties, 126 00:07:31,680 --> 00:07:34,320 get-togethers, and kitty parties. 127 00:07:34,400 --> 00:07:35,640 So how many events have you done? 128 00:07:35,720 --> 00:07:37,600 We have done more than 500 events. 129 00:07:37,680 --> 00:07:39,960 - Over the last three years? - Yes. 130 00:07:41,160 --> 00:07:43,080 Do you have a team? Or do you go yourself? 131 00:07:43,160 --> 00:07:45,120 Yes, sir. We have a team. 132 00:07:45,200 --> 00:07:46,640 We have a team of mixologists. 133 00:07:46,720 --> 00:07:48,880 - Did you just call them mixologists? - Yes. 134 00:07:48,960 --> 00:07:50,840 "I'm calling a mixologist to my party." 135 00:07:50,920 --> 00:07:52,400 - Oh! It doesn't mean the other thing. - [giggling] 136 00:07:52,520 --> 00:07:54,200 - It means lipstick makers. - Yes. 137 00:07:54,280 --> 00:07:56,720 - It's the healthier mixology. - Yes. 138 00:07:58,520 --> 00:08:01,520 We have 12 mixologists. 139 00:08:05,560 --> 00:08:09,240 to 2-3 events a day, depending upon the size of the event. 140 00:08:09,440 --> 00:08:10,880 What is the average size of these events? 141 00:08:25,840 --> 00:08:28,240 customers won't return for the same product. 142 00:08:29,160 --> 00:08:30,920 In the future, they tell us 143 00:08:31,040 --> 00:08:33,680 the shade they want and we send it. They don't get the experience. 144 00:08:33,760 --> 00:08:35,840 You use the events like activation. 145 00:08:35,920 --> 00:08:38,640 - Once you get the clients, you get repeat business. - Correct! 146 00:08:38,720 --> 00:08:41,640 What is the conversion rate? If 10 people tried it, 147 00:08:41,760 --> 00:08:43,920 how many are converted into your customers? 148 00:08:44,000 --> 00:08:47,360 Sir, we have three sources of sales. 149 00:08:47,480 --> 00:08:48,600 First is events. 150 00:08:48,680 --> 00:08:53,920 We generate 60% of our revenue from events. 151 00:08:54,040 --> 00:08:57,320 In those events, 60% of the people become our customers. 152 00:08:57,400 --> 00:09:00,280 Either they do more events or go for personalised lipsticks. 153 00:09:00,360 --> 00:09:02,680 - All right. - Around 35% of the people 154 00:09:02,760 --> 00:09:05,160 reorder individual lipsticks. 155 00:09:05,240 --> 00:09:06,520 Do they keep on ordering? 156 00:09:06,600 --> 00:09:08,240 Do they order for a lifetime or just once? 157 00:09:08,360 --> 00:09:10,640 On average, we have already 158 00:09:10,720 --> 00:09:13,720 supplied lipsticks three times in bulk to one customer. 159 00:09:19,360 --> 00:09:20,720 Can you share the maths with us? 160 00:09:20,840 --> 00:09:22,920 How many lipsticks did you sell individually? 161 00:09:23,000 --> 00:09:25,360 I sold approximately, 162 00:09:25,440 --> 00:09:29,040 around 1,500 lipsticks individually. 163 00:09:30,560 --> 00:09:31,600 - All right. - Okay. 164 00:09:31,640 --> 00:09:33,560 Jasmine, please tell us your overall revenue. 165 00:09:33,640 --> 00:09:34,920 Last year's and this year's too. 166 00:09:35,000 --> 00:09:39,560 We closed at around Rs. 80 lakhs last year. 167 00:09:40,440 --> 00:09:42,920 We have already earned Rs. 64 lakhs 168 00:09:43,000 --> 00:09:45,920 this year till September. 169 00:09:46,040 --> 00:09:47,400 What is your projection for the whole year? 170 00:09:51,720 --> 00:09:53,200 What about your profit and loss 171 00:09:53,320 --> 00:09:55,120 during the last year and the current year? 172 00:09:55,200 --> 00:09:58,480 Our gross profit last year was around 60%. 173 00:10:18,280 --> 00:10:20,480 - around Rs.40 lakh profit. - Yes, ma'am. 174 00:10:20,560 --> 00:10:24,440 You must have paid around Rs. 15-Rs. 20 lakh tax. 175 00:10:24,520 --> 00:10:29,400 Actually, we started the company at just 21 years of age. 176 00:10:29,480 --> 00:10:33,720 So we are still in the process of channelising the company. 177 00:10:33,800 --> 00:10:36,880 You haven't started your work like a proper company yet. 178 00:10:37,000 --> 00:10:39,360 You took payment in cash 179 00:10:39,480 --> 00:10:40,800 and settled it in cash. 180 00:10:40,880 --> 00:10:43,920 - You'll now start incorporating and documenting your company. - Yes. 181 00:10:49,480 --> 00:10:52,360 What's your plan? Did you raise an investment? 182 00:10:52,440 --> 00:10:54,280 - Are you raising money? - First, you must incorporate your company. 183 00:10:54,400 --> 00:10:55,720 - Yes! - We are in the process. 184 00:10:55,800 --> 00:10:59,320 If somebody audits your books now, they won't get much information. 185 00:10:59,400 --> 00:11:02,080 Right? You might have paid some bills in cash. 186 00:11:02,160 --> 00:11:04,600 - Have equal partnership? - They won't know what to audit. 187 00:11:04,720 --> 00:11:06,640 - Fifty-fifty? - Yes, sir. 188 00:11:06,720 --> 00:11:10,080 I feel you two are sweet and passionate. 189 00:11:10,160 --> 00:11:11,960 Hire a business head. 190 00:11:18,480 --> 00:11:20,280 I'm out today because 191 00:11:20,360 --> 00:11:22,600 I don't see your business going in the right direction. 192 00:11:22,680 --> 00:11:25,040 I think you are doing it out of passion, which is also not wrong. 193 00:11:25,160 --> 00:11:28,200 I wish you to stay happy and enjoy your work. 194 00:11:28,280 --> 00:11:29,760 - Thank you. - Thank you so much, sir. 195 00:11:32,120 --> 00:11:34,720 What is your aim in the next 3-5 years? Tell me the numbers. 196 00:11:40,240 --> 00:11:41,560 You'll be surprised. 197 00:11:41,800 --> 00:11:43,040 You might do more than 100%. 198 00:11:43,120 --> 00:11:45,040 You should expect double or 5x. 199 00:11:45,120 --> 00:11:46,960 You shouldn't expect in percentage. 200 00:11:47,040 --> 00:11:49,600 - Yes, ma'am. - Please have big aspirations. 201 00:11:50,600 --> 00:11:51,920 You are doing something interesting. 202 00:11:52,000 --> 00:11:55,200 I saw Radhika's reaction while making the lipstick. 203 00:11:55,320 --> 00:11:57,560 I think your model is great 204 00:11:57,640 --> 00:12:02,360 for building a high engagement and high trust at a low cost. 205 00:12:02,440 --> 00:12:05,800 Because nowadays, the biggest problem of D2C brands 206 00:12:05,880 --> 00:12:07,040 is the marketing cost. 207 00:12:07,160 --> 00:12:10,920 - Correct. - You are marketing your product in a low, effective way 208 00:12:11,000 --> 00:12:13,800 in which you aren't spending money but making it. 209 00:12:14,240 --> 00:12:15,440 If you launch 210 00:12:15,520 --> 00:12:18,400 a new range of colours of lipsticks, 211 00:12:18,480 --> 00:12:22,160 you'll sell your product to your customers at zero marketing cost. 212 00:12:22,280 --> 00:12:25,360 I genuinely think you must launch lipsticks under your brand. 213 00:12:25,440 --> 00:12:28,480 You could do some differentiation as you are knowledgeable. 214 00:12:28,600 --> 00:12:31,720 Parallelly, you should keep this service going. 215 00:12:31,800 --> 00:12:34,920 You could become a successful 216 00:12:35,000 --> 00:12:39,720 D2C brand with almost zero marketing costs. 217 00:12:51,160 --> 00:12:52,840 a profit of Rs. 1 crore at just 24 years of age. 218 00:12:52,920 --> 00:12:54,200 - Thank you so much. - Thank you so much. 219 00:12:55,200 --> 00:12:58,920 Every industry has a concept of education. 220 00:12:59,000 --> 00:13:01,000 For example, we have investor education in our industry. 221 00:13:01,080 --> 00:13:04,840 And you do lipstick education in a sense. Your work is experiential. 222 00:13:05,240 --> 00:13:07,640 Educating people is just a concept. 223 00:13:07,720 --> 00:13:09,160 It must translate into a business. 224 00:13:09,240 --> 00:13:10,880 So I think your business is still a concept. 225 00:13:10,960 --> 00:13:13,160 You need a lot of time to become a full-fledged company 226 00:13:13,240 --> 00:13:15,480 and you must figure out a way to make it one. 227 00:13:15,560 --> 00:13:18,160 I don't think events can help you 228 00:13:18,240 --> 00:13:20,280 become a scalable company. 229 00:13:20,360 --> 00:13:23,080 Firstly, form a company as soon as possible. 230 00:13:24,360 --> 00:13:26,720 Secondly, when you pitch 231 00:13:26,800 --> 00:13:28,600 your business in the future, 232 00:13:28,680 --> 00:13:32,640 try to be specific about the numbers you share with them. 233 00:13:32,720 --> 00:13:36,320 You said you sell 1000-1500 lipsticks. 234 00:13:36,600 --> 00:13:37,520 You should be precise. 235 00:13:37,600 --> 00:13:39,880 You must organise events for the corporates. 236 00:13:39,960 --> 00:13:43,120 As corporates, we always look for tools for engagement. 237 00:13:43,240 --> 00:13:45,000 I think it'll help generate excitement. 238 00:13:45,120 --> 00:13:48,080 I wish you the best of luck. I'm out for now. 239 00:13:48,240 --> 00:13:49,800 - Thank you so much. - Thank you so much, ma'am. 240 00:13:51,360 --> 00:13:53,520 Events isn't a small business. 241 00:13:53,600 --> 00:13:55,160 I'm ready to help you. 242 00:13:55,240 --> 00:13:57,760 We'll take the help of the financial head of our family office 243 00:13:57,880 --> 00:14:00,560 to help you set up a company. 244 00:14:00,640 --> 00:14:04,520 I can help you with the tax filing. 245 00:14:04,600 --> 00:14:06,400 Focus on your business for 1 to 1.5 years. 246 00:14:06,480 --> 00:14:08,840 I think you can build a big business 247 00:14:08,960 --> 00:14:11,600 around weddings and events, and parallelly, 248 00:14:14,640 --> 00:14:19,400 You need 1-1.5 years to fulfil your commitment. 249 00:14:19,480 --> 00:14:20,720 For that reason, I'm out. 250 00:14:20,840 --> 00:14:22,520 But my best wishes are with you. 251 00:14:22,600 --> 00:14:24,200 - Thank you so much. - Thank you so much, sir. 252 00:14:25,880 --> 00:14:29,400 The business of customised products 253 00:14:29,480 --> 00:14:32,160 for any category like skincare or makeup 254 00:14:32,240 --> 00:14:35,080 has been attempted by numerous companies globally. 255 00:14:35,160 --> 00:14:37,880 However, it never scaled. It remains a gimmick. 256 00:14:38,000 --> 00:14:40,400 Even though established brands 257 00:14:40,480 --> 00:14:42,200 tried to use it as an activation channel, 258 00:14:47,240 --> 00:14:50,880 The performance of homemade products, 259 00:14:50,960 --> 00:14:55,080 in terms of longevity and colour consistency, isn't satisfactory. 260 00:14:55,200 --> 00:14:58,600 That's the reason, these businesses didn't scale globally. 261 00:14:58,680 --> 00:15:01,680 My suggestion is 262 00:15:01,760 --> 00:15:04,480 not to make your business product-oriented 263 00:15:04,600 --> 00:15:07,120 but a service-oriented business 264 00:15:13,160 --> 00:15:14,560 acts as a differentiator. 265 00:15:14,640 --> 00:15:17,600 Please continue your good work. I love the brand name as well. 266 00:15:17,680 --> 00:15:20,760 As of now, your business isn't investible 267 00:15:20,840 --> 00:15:22,960 because your numbers can't be audited. 268 00:15:23,040 --> 00:15:26,200 Your ambition of 35% growth is too small. 269 00:15:27,200 --> 00:15:28,840 You haven't thought over such things 270 00:15:28,840 --> 00:15:30,280 and your business is in its early stages. 271 00:15:30,320 --> 00:15:32,440 For that reason, I'm also out. 272 00:15:32,560 --> 00:15:35,360 I'd be really happy to check your business again 273 00:15:35,440 --> 00:15:37,360 after a few years when I can verify it. 274 00:15:37,480 --> 00:15:38,680 - Thank you so much, ma'am. - Thank you so much, ma'am. 275 00:15:47,200 --> 00:15:50,080 [joyful music playing] 276 00:17:40,080 --> 00:17:45,280 [song playing] 277 00:17:52,000 --> 00:17:54,080 [song continues playing] 278 00:18:04,120 --> 00:18:06,520 [song playing] 279 00:18:19,520 --> 00:18:21,400 - Greetings, Sharks. - Greetings. 280 00:18:21,480 --> 00:18:22,760 I'm Ankush Barjata. 281 00:18:26,000 --> 00:18:26,840 Wow! 282 00:18:26,920 --> 00:18:29,800 I'm the founder of Deeva, the online sari store. 283 00:18:30,880 --> 00:18:33,080 Sharks, there's a saying. 284 00:18:33,320 --> 00:18:35,120 "The taste of water changes every 3 kilometres" 285 00:18:35,200 --> 00:18:36,960 "and language changes every 24 kilometres." 286 00:18:37,760 --> 00:18:40,920 "Sharks, I'll tell you the complete story today." 287 00:18:41,720 --> 00:18:45,120 India is a diverse nation and every 24 kilometres, 288 00:18:45,200 --> 00:18:47,120 the weave of the saris, 289 00:18:47,200 --> 00:18:50,200 variety, the design, 290 00:18:50,320 --> 00:18:52,480 and even the style of wearing a sari changes. 291 00:18:52,600 --> 00:18:55,000 Saris were worn by women till now 292 00:18:55,080 --> 00:18:57,080 but as per the new fashion trends, 293 00:18:57,200 --> 00:18:59,160 even men are styling it uniquely. 294 00:18:59,240 --> 00:19:00,280 For example, the way I'm wearing one. 295 00:19:00,400 --> 00:19:01,560 - Are you wearing a sari? - Yes. 296 00:19:01,680 --> 00:19:02,960 - Yes, I'm wearing a sari. - Is it a sari? Oh! 297 00:19:03,040 --> 00:19:03,960 - Am I looking nice? - Superb! 298 00:19:04,040 --> 00:19:04,880 - Nice. Yes. - I don't know. 299 00:19:05,000 --> 00:19:05,960 - Thank you so much. - Superb. 300 00:19:06,080 --> 00:19:07,880 - I never saw a man wearing a sari. - I didn't see anyone too. 301 00:19:08,040 --> 00:19:10,320 - I have seen it in fashion shows. - Yes. 302 00:19:11,000 --> 00:19:13,400 Our country has more than 100 varieties of saris. 303 00:19:13,480 --> 00:19:15,760 However, there isn't a platform 304 00:19:15,880 --> 00:19:19,480 where we can get all the varieties in one place. 305 00:19:19,960 --> 00:19:21,720 We travelled across the country 306 00:19:21,800 --> 00:19:24,080 and identified different manufacturers. 307 00:19:24,200 --> 00:19:27,480 We brought them together on our platform Deeva. 308 00:19:27,560 --> 00:19:29,640 Deeva is the first platform in India 309 00:19:29,720 --> 00:19:33,240 which delivers saris to customers directly from the manufacturers. 310 00:19:38,480 --> 00:19:39,760 traditional Banarasi 311 00:19:40,440 --> 00:19:42,920 or the one-minute sari in the current age. 312 00:19:44,120 --> 00:19:48,680 Sharks, my vision is to make the Indian culture global. 313 00:19:49,240 --> 00:19:51,880 I want to make my brand the first international sari brand of India. 314 00:19:52,000 --> 00:19:54,040 I want to make Deeva a platform 315 00:19:54,120 --> 00:19:56,960 for a one-stop solution by including all the categories. 316 00:19:57,120 --> 00:19:58,960 To realise this dream, 317 00:19:59,040 --> 00:20:00,600 I am asking you all 318 00:20:09,440 --> 00:20:10,600 I urge you to join us 319 00:20:10,720 --> 00:20:12,560 and leave all their hard work to us. 320 00:20:12,640 --> 00:20:13,440 Thank you. 321 00:20:13,440 --> 00:20:15,080 - Awesome. Thank you. - Thank you, girls. 322 00:20:15,160 --> 00:20:16,360 - Thank you, girls. - [claps] 323 00:20:16,760 --> 00:20:20,120 - Ankush, welcome to Shark Tank India. - Thank you. 324 00:20:20,280 --> 00:20:24,280 Firstly, your fashion show was wonderful. 325 00:20:24,400 --> 00:20:26,920 - You look lovely in that saree. - Thank you, ma'am. 326 00:20:27,040 --> 00:20:28,840 Your display is terrific. 327 00:20:28,920 --> 00:20:32,000 Tell the Sharks a little about yourself first. 328 00:20:32,080 --> 00:20:34,280 You come from a village in Himachal. 329 00:20:34,360 --> 00:20:35,240 What were you doing? 330 00:20:35,320 --> 00:20:37,240 How did you come into the sari business? 331 00:20:37,320 --> 00:20:41,320 My grandpa used to peddle clothes from village to village. 332 00:20:41,400 --> 00:20:43,960 My father worked at a clothing store. 333 00:20:44,080 --> 00:20:46,440 After working there for 27 years, 334 00:20:46,520 --> 00:20:48,480 he opened his store in 2014. 335 00:20:48,560 --> 00:20:50,360 Before he opened his shop, 336 00:20:50,480 --> 00:20:51,720 I was studying in a government school. 337 00:20:51,800 --> 00:20:53,480 After that, I studied Computer Science Engineering 338 00:20:53,560 --> 00:20:54,720 from SRM University, Chennai. 339 00:20:54,840 --> 00:20:57,280 I joined the theatre in college. 340 00:20:57,360 --> 00:20:59,800 I had a dream to direct movies later in life, 341 00:20:59,960 --> 00:21:01,760 but the lockdown was imposed. 342 00:21:01,880 --> 00:21:05,880 I heard Dad saying he had suffered losses. 343 00:21:05,960 --> 00:21:08,600 My father invested Rs. 30 lakhs in my education. 344 00:21:08,760 --> 00:21:10,680 It wasn't like I was exceptionally talented 345 00:21:10,760 --> 00:21:13,040 and an offer awaited me in Mumbai where I'd do something big. 346 00:21:13,120 --> 00:21:14,480 So, I started applying for jobs. 347 00:21:14,560 --> 00:21:17,640 My first ever offer was from BYJU'S and the second was from WhiteHat Jr. 348 00:21:17,720 --> 00:21:20,800 My third offer came from Incredible India Projects Pvt. Ltd 349 00:21:20,880 --> 00:21:22,040 which is a real estate company 350 00:21:22,120 --> 00:21:24,080 that offered me a package of Rs. 26.28 lakhs. 351 00:21:24,160 --> 00:21:25,000 - Wow. - Wow. 352 00:21:25,080 --> 00:21:28,240 I directly joined them in Hyderabad in January. 353 00:21:28,320 --> 00:21:30,920 One of my clients there was a saree manufacturer. 354 00:21:31,200 --> 00:21:32,840 That's where the connection was built. 355 00:21:32,920 --> 00:21:34,840 Cloth and sarees were a little relatable. 356 00:21:34,920 --> 00:21:35,960 So, we got talking. 357 00:21:36,200 --> 00:21:39,600 He told me that these sarees were manufactured for Rs. 300 to 400. 358 00:21:39,680 --> 00:21:42,040 I asked him who wore such sarees. 359 00:21:42,160 --> 00:21:44,480 He said, "Everyone will wear them when they sell for Rs. 2,000." 360 00:21:44,600 --> 00:21:47,840 That stayed with me and we began working on it. 361 00:21:47,920 --> 00:21:50,320 We studied and gathered information about every category. 362 00:21:50,400 --> 00:21:52,400 There are different categories in every state. 363 00:21:52,520 --> 00:21:55,200 We learned about handloom and power loom. 364 00:21:55,760 --> 00:21:58,080 We realised no platform sourced from manufacturers 365 00:21:58,200 --> 00:21:59,840 and sold directly to the consumers. 366 00:21:59,920 --> 00:22:02,200 The cost of the same saree was Rs. 3,000 at one place 367 00:22:02,280 --> 00:22:03,600 and Rs. 5,000 somewhere else. 368 00:22:03,680 --> 00:22:05,720 And it was available for Rs. 800 at some places too. 369 00:22:05,800 --> 00:22:06,680 Why was that? 370 00:22:06,920 --> 00:22:08,520 While conducting research on these points, 371 00:22:08,600 --> 00:22:09,920 I knew I wanted to do this. 372 00:22:11,440 --> 00:22:14,560 Are you into handloom or power loom? 373 00:22:20,000 --> 00:22:22,920 The majority of our customers buy sarees that cost Rs. 2,500. 374 00:22:23,000 --> 00:22:24,840 Do these sarees also have polyester 375 00:22:24,920 --> 00:22:27,000 - or are they pure silk? - Pure... 376 00:22:27,080 --> 00:22:27,920 They are not fully pure silk. 377 00:22:28,000 --> 00:22:29,760 - If we do that, definitely... - The cost will rise. 378 00:22:29,840 --> 00:22:32,080 The average range will start from Rs. 7,000 to 8,000. 379 00:22:32,200 --> 00:22:35,040 They're semi-pure and all of India wears semi-pure. 380 00:22:35,160 --> 00:22:37,840 If someone wishes to buy a saree of equal quality 381 00:22:38,320 --> 00:22:41,000 from any online or offline shop, 382 00:22:41,120 --> 00:22:43,080 how cheaper are you in their comparison? 383 00:22:43,160 --> 00:22:46,360 Sir, I can't talk about offline because we're fully online. 384 00:22:46,440 --> 00:22:48,840 Pick any saree on any online platform, 385 00:22:48,960 --> 00:22:50,520 I will sell it to you at a 50% lower price 386 00:22:50,600 --> 00:22:52,400 than anyone in India. 387 00:22:56,160 --> 00:22:57,600 are buying directly from the manufacturers. 388 00:22:57,720 --> 00:22:58,720 They are open platforms 389 00:22:58,800 --> 00:23:00,880 where anyone can log in and list their products. 390 00:23:01,000 --> 00:23:03,920 That includes retailers, wholesalers and distributors. 391 00:23:04,040 --> 00:23:05,960 Manufacturers don't have the time to list their products. 392 00:23:28,280 --> 00:23:30,200 So, ma'am, a saree that is manufactured for Rs. 500 393 00:23:30,280 --> 00:23:33,440 must be made available to the retailers for about Rs. 1,500. 394 00:23:33,600 --> 00:23:36,280 I am selling it to customers at the same rate they are buying for. 395 00:23:36,400 --> 00:23:38,880 Do you have an exclusive arrangement with the manufacturers? 396 00:23:38,960 --> 00:23:40,080 Sir, we're trying to accomplish that. 397 00:23:40,160 --> 00:23:42,640 I currently have five exclusive manufacturers 398 00:23:46,760 --> 00:23:48,200 Name a few. 399 00:23:48,280 --> 00:23:50,560 Apple Sarees is India's ninth-best manufacturer. 400 00:23:50,640 --> 00:23:53,280 They can sell on Flipkart and Amazon as well. 401 00:23:53,480 --> 00:23:54,880 They won't sell to anyone but me, sir. 402 00:23:54,960 --> 00:23:56,560 We will sign an exclusive agreement. 403 00:23:56,640 --> 00:23:59,000 How can you say that with such confidence? 404 00:23:59,080 --> 00:24:00,760 You don't have agreements with them. 405 00:24:00,840 --> 00:24:02,160 Relations are above money. 406 00:24:02,240 --> 00:24:04,480 - Oh, my! - In the cloth business, you make relations. 407 00:24:04,560 --> 00:24:05,880 I have a special relationship with them. 408 00:24:05,960 --> 00:24:07,680 They invite me to their family weddings. 409 00:24:08,080 --> 00:24:12,040 I am not getting that feeling when I look at your products. 410 00:24:12,160 --> 00:24:14,760 Even semi-pure gives a vibe. 411 00:24:14,840 --> 00:24:16,920 I own semi-pure Banarasi sarees also. 412 00:24:17,200 --> 00:24:18,360 I don't get that feeling. 413 00:24:18,480 --> 00:24:21,240 You're thinking from the perspective of a high-end customer. 414 00:24:21,320 --> 00:24:23,480 - Okay. - Think from the perspective of a customer 415 00:24:23,560 --> 00:24:25,400 who is buying a saree for Rs. 2,000 to 2,500 416 00:24:25,520 --> 00:24:27,320 to wear to a party. 417 00:24:27,400 --> 00:24:29,120 If you look at it from that perspective, 418 00:24:29,200 --> 00:24:30,960 these sarees are selling in the market. 419 00:24:31,040 --> 00:24:34,320 If you look up the same sarees on the internet, 420 00:24:34,440 --> 00:24:36,720 you'll find the same sarees for Rs. 4,000 to 5,000 421 00:24:36,800 --> 00:24:38,440 that I have put on display here. 422 00:24:38,600 --> 00:24:40,480 How will the consumer know 423 00:24:40,560 --> 00:24:42,520 - this is not a cheap saree and a good one? - Yes. 424 00:24:42,600 --> 00:24:46,160 We have a no-questions-asked return policy for our sarees. 425 00:24:51,000 --> 00:24:53,480 Top-end quality, middle quality and lower quality. 426 00:24:53,720 --> 00:24:56,920 We always go for the top range because we know the quality is good. 427 00:24:57,080 --> 00:24:59,400 We offer the customer a no-questions-asked return policy. 428 00:24:59,440 --> 00:25:02,080 So, the customer does not hesitate to place their first order. 429 00:25:02,160 --> 00:25:03,640 They can check out our quality. 430 00:25:03,840 --> 00:25:06,480 The moment the saree gets delivered, our team calls them to ask 431 00:25:06,560 --> 00:25:07,520 what they think of it. 432 00:25:07,600 --> 00:25:09,680 We give the same feeling to customers online 433 00:25:09,800 --> 00:25:11,520 that they get in a store. 434 00:25:11,640 --> 00:25:14,200 If they do not like the saree 435 00:25:14,280 --> 00:25:16,680 or have quality issues, they can return it. 436 00:25:16,760 --> 00:25:19,120 By God's grace, our return rate is only 3%. 437 00:25:19,200 --> 00:25:20,200 It is not too high. 438 00:25:20,320 --> 00:25:21,600 What's your gross margin? 439 00:25:21,720 --> 00:25:24,480 Our gross margin is 60% and the cost of purchase is 40%. 440 00:25:24,640 --> 00:25:28,640 In October 2023, we clocked a sales of Rs. 58 lakhs. 441 00:25:28,760 --> 00:25:32,440 Out of that, 10.8% went towards marketing costs. 442 00:25:32,560 --> 00:25:34,280 On top of that, we have salaries. 443 00:25:34,400 --> 00:25:36,480 Sir, Rs. 1.5 lakhs goes towards employees' salaries. 444 00:25:36,600 --> 00:25:37,880 I take Rs. 1 lakh too. 445 00:25:37,960 --> 00:25:39,680 So, that's a total of Rs. 2.5 lakhs in salaries. 446 00:25:39,880 --> 00:25:42,920 Our packaging cost is 4.5 to 5%. 447 00:25:43,120 --> 00:25:48,200 And our shipping cost is about 3 to 4%, sir. 448 00:25:48,320 --> 00:25:49,320 These are the major expenses. 449 00:25:49,480 --> 00:25:50,560 How much is your EBITDA? 450 00:25:50,640 --> 00:25:53,360 It varies between 35 to 36%. 451 00:25:53,480 --> 00:25:55,960 What about personnel expenses? Don't you have a team? 452 00:25:56,080 --> 00:25:59,400 Only 15 people are employed with us. Their average salary is Rs. 10,000. 453 00:26:04,200 --> 00:26:05,760 - Rs. 18 to 19 lakhs. - Not bad. 454 00:26:08,680 --> 00:26:09,920 - So, no commissions. - No. 455 00:26:15,040 --> 00:26:18,720 Ma'am, we have done Rs. 2.67 crores till October 2023. 456 00:26:18,880 --> 00:26:21,680 Our target is to cross Rs. 7 crores this year. 457 00:26:29,000 --> 00:26:30,760 I was in the learning phase at the time. 458 00:26:30,840 --> 00:26:32,120 I had applied in Season 2 as well. 459 00:26:52,800 --> 00:26:54,280 - Okay. - Where's your company based? 460 00:26:54,360 --> 00:26:57,920 We are based in a village called Bangana in Himachal's Una district. 461 00:26:58,000 --> 00:26:59,760 - Do you run the business from Bangana? - Yes. 462 00:26:59,880 --> 00:27:01,080 - Wow! - Amazing. 463 00:27:01,200 --> 00:27:03,840 - Lovely. - You will do sales of Rs. 7 crores. 464 00:27:04,080 --> 00:27:06,400 - A profit of Rs. 2 crores. - Rs. 2 crores. 465 00:27:06,520 --> 00:27:07,800 - Good job. - Wow, well done. 466 00:27:07,880 --> 00:27:09,800 Lovely. You won my heart. 467 00:27:10,240 --> 00:27:13,400 When you didn't make it in Season 2, were you disheartened? 468 00:27:13,480 --> 00:27:15,440 How did you take the news? 469 00:27:15,520 --> 00:27:17,600 Rejection is hard for any entrepreneur. 470 00:27:17,720 --> 00:27:19,360 I am a big fan of Mahendra Singh Dhoni, sir. 471 00:27:19,480 --> 00:27:22,000 - Then you... [laughs] - No, sir! 472 00:27:22,120 --> 00:27:24,640 - You... - You have a way with words. 473 00:27:24,720 --> 00:27:25,800 Smooth talker. 474 00:27:26,000 --> 00:27:28,000 "Till the full stop doesn't come, the sentence is not complete." 475 00:27:33,920 --> 00:27:35,120 - Yes. - I had pressure from family. 476 00:27:35,240 --> 00:27:36,080 And society... 477 00:27:36,200 --> 00:27:38,680 We live in a village and everyone knows everybody there. 478 00:27:38,800 --> 00:27:41,400 "You spent so much money on your son and look what he is doing!" 479 00:27:41,640 --> 00:27:44,360 It had become hard for me to stay at home. 480 00:27:44,480 --> 00:27:48,480 - There were so many moments when I felt I should quit. - Quit. 481 00:27:48,760 --> 00:27:52,000 Yes, but then there's also a moment where you ask yourself, "Why?" 482 00:27:52,560 --> 00:27:54,880 I posted about Season 2 on my Instagram account. 483 00:27:54,960 --> 00:27:56,760 Show us the post. 484 00:27:57,520 --> 00:27:59,040 You're a great guy. 485 00:27:59,200 --> 00:28:01,280 You have a good heart and you speak well. 486 00:28:01,360 --> 00:28:03,920 - Your profile is verified. - Yes. 487 00:28:04,080 --> 00:28:05,320 I can't read. I'll come there. 488 00:28:05,400 --> 00:28:06,320 Yes, sir. Please do. 489 00:28:06,440 --> 00:28:08,800 I posted that it was April 2022 when I filled out the registration form. 490 00:28:08,880 --> 00:28:09,960 I posted about the whole journey. 491 00:28:10,040 --> 00:28:13,240 'And recently came to know that we didn't make it to the TV round.' 492 00:28:13,440 --> 00:28:14,760 'My dream to meet...' Uh... 493 00:28:14,880 --> 00:28:17,400 - Peyush and Aman... - Peyush and Aman also... 494 00:28:17,560 --> 00:28:18,840 You should both make an offer. 495 00:28:18,960 --> 00:28:20,600 - Yes, make an offer. - Good one. 496 00:28:21,080 --> 00:28:23,280 I wish to show you one more post, sir. 497 00:28:23,360 --> 00:28:26,560 I was at a restaurant when Season 3 entries were announced. 498 00:28:26,680 --> 00:28:29,800 I wrote this on a tissue paper there. 499 00:28:29,920 --> 00:28:31,440 '5 June, 3 pm.' 500 00:28:31,520 --> 00:28:34,680 'I will be on Shark Tank Season 3. Stop me.' And I'm here. 501 00:28:34,760 --> 00:28:36,880 - Wow! Love it. - Nice. 502 00:28:37,040 --> 00:28:38,120 Good job. 503 00:28:39,600 --> 00:28:41,840 - Do you have a website we could see? - Sure. 504 00:28:41,920 --> 00:28:45,360 That over there is the Deeva logo and this is our banner. 505 00:28:45,480 --> 00:28:46,880 You can see the categories on top. 506 00:28:46,960 --> 00:28:50,040 We've put up our top four categories here. 507 00:28:50,160 --> 00:28:52,200 This is our Deeva Specials category. 508 00:28:52,320 --> 00:28:55,440 The manufacturers who cannot do photoshoots of their products... 509 00:28:55,520 --> 00:28:57,200 There are many manufacturers who cannot. 510 00:28:57,440 --> 00:28:59,920 We bring their products 511 00:29:00,040 --> 00:29:01,440 and shoot their brand for them. 512 00:29:01,520 --> 00:29:03,840 In a way, these photos become exclusive for us. 513 00:29:03,960 --> 00:29:06,960 Who maintains the website and who does the marketing? 514 00:29:07,040 --> 00:29:09,240 We have outsourced the marketing to a company in Delhi. 515 00:29:09,280 --> 00:29:11,640 They handle our social media as well as our marketing. 516 00:29:11,760 --> 00:29:13,960 - You spend Rs. 70 lakhs a year on that. - Yes. 517 00:29:14,080 --> 00:29:15,120 This must be a growing market. 518 00:29:15,200 --> 00:29:17,400 In 2017, the market size was Rs. 38,000 crores. 519 00:29:17,560 --> 00:29:19,320 From 2017 to 2023, 520 00:29:19,400 --> 00:29:21,160 the market has grown to Rs. 80,000 crores. 521 00:29:21,280 --> 00:29:23,000 The saree market is continuously growing. 522 00:29:23,080 --> 00:29:26,280 Who is your competition in pure saree players? 523 00:29:26,520 --> 00:29:27,800 - Taneira is one. - Taneira. 524 00:29:27,920 --> 00:29:29,840 The second is Karagiri and the third is Zari Banaras. 525 00:29:29,920 --> 00:29:31,120 They're not your competition. 526 00:29:31,200 --> 00:29:32,800 You're an aggregator and they are brands. 527 00:29:32,920 --> 00:29:33,960 You all have made brands. 528 00:29:34,040 --> 00:29:35,920 You know there's a cost associated with building a brand. 529 00:29:36,000 --> 00:29:37,080 It isn't so with business. 530 00:29:37,200 --> 00:29:39,600 In business, buy for x amount, sell for x amount and make a profit. 531 00:29:39,720 --> 00:29:40,920 - We have established a business. - [claps] 532 00:29:41,000 --> 00:29:42,680 - What good answers. - In 2 to 3 months... 533 00:29:42,800 --> 00:29:44,960 We've begun work on the branding for a few months 534 00:29:45,040 --> 00:29:46,080 and we will build a brand too. 535 00:29:46,080 --> 00:29:47,000 Somewhere... 536 00:29:47,080 --> 00:29:49,600 You're a smooth talker which is a good trait, 537 00:29:49,800 --> 00:29:51,560 and you talk sweetly also. 538 00:29:51,760 --> 00:29:52,800 It seems genuine too. 539 00:29:52,880 --> 00:29:54,760 Somewhere, there is a thin line 540 00:29:54,840 --> 00:29:57,040 between confidence and overconfidence. 541 00:29:57,120 --> 00:29:58,000 I get that feeling sometimes. 542 00:29:58,080 --> 00:29:59,280 Are you overconfident? 543 00:29:59,360 --> 00:30:00,680 No, sir. I am not overconfident. 544 00:30:00,800 --> 00:30:04,280 Ankush, I don't understand, why can others not do this business? 545 00:30:04,360 --> 00:30:05,920 This is a trading business. 546 00:30:06,000 --> 00:30:07,680 - Nalli sells sarees online too. - Yes, ma'am. 547 00:30:07,800 --> 00:30:08,680 They have a lot of variety. 548 00:30:08,800 --> 00:30:11,200 - Nalli is the biggest name in sarees. - Yes, ma'am. 549 00:30:11,320 --> 00:30:12,520 - They are a brand. - Yes, ma'am. 550 00:30:12,640 --> 00:30:14,160 If you visit their website, 551 00:30:14,240 --> 00:30:17,760 you will see pure silk sarees ranging from Rs. 2,000 to 20,000. 552 00:30:17,840 --> 00:30:19,480 - They are aggregators too. - Yes, ma'am. 553 00:30:19,600 --> 00:30:22,160 I don't quite get what your advantage is. 554 00:30:22,360 --> 00:30:23,920 Ma'am, our core advantage is manufacturers. 555 00:30:24,040 --> 00:30:25,920 We started with 60 manufacturers 556 00:30:26,080 --> 00:30:28,080 and today, we have 550 manufacturers. 557 00:30:28,160 --> 00:30:30,600 - 550! - Take Nalli or any other brand, 558 00:30:30,720 --> 00:30:32,440 none of these businesses 559 00:30:32,640 --> 00:30:35,640 tell the customer that this is coming from manufacturers 560 00:30:35,800 --> 00:30:36,680 or who they are. 561 00:30:36,760 --> 00:30:38,680 Nalli as a brand is trusted. 562 00:30:38,760 --> 00:30:39,960 Nobody has heard of Deeva. 563 00:30:40,120 --> 00:30:41,360 They will know now, ma'am. 564 00:30:41,440 --> 00:30:43,240 - Oh, my! - Whoa. 565 00:30:43,400 --> 00:30:45,400 Our focus is the mass customer 566 00:30:45,560 --> 00:30:47,800 who buys sarees in the range of Rs. 2,500. 567 00:30:47,880 --> 00:30:49,320 We haven't entered the premium bracket yet 568 00:30:49,400 --> 00:30:52,640 nor do we plan on entering it for the next one year. 569 00:30:52,720 --> 00:30:56,360 Is there something in your life or business 570 00:30:56,440 --> 00:30:58,120 that you feel needs to be worked on? 571 00:30:58,240 --> 00:31:00,760 I feel that the UI of our website is really simple. 572 00:31:00,880 --> 00:31:02,400 We need to work on that in my opinion. 573 00:31:02,480 --> 00:31:05,680 Secondly, I want to bring the start-up ecosystem to Himachal. 574 00:31:05,880 --> 00:31:09,240 I helped two people set up their start-ups. 575 00:31:09,360 --> 00:31:11,720 I gave them some funds and invested in them too. 576 00:31:11,840 --> 00:31:15,640 Just as people move to Bengaluru to work with companies, 577 00:31:15,800 --> 00:31:17,320 I envision making a company in Himachal 578 00:31:17,400 --> 00:31:19,200 that will attract a workforce from Bengaluru. 579 00:31:19,280 --> 00:31:22,360 How big do you think this business will grow in three years? 580 00:31:22,440 --> 00:31:24,320 I can bring it to an annual sales of Rs. 50 crores. 581 00:31:24,440 --> 00:31:26,200 I know how to grow 582 00:31:26,280 --> 00:31:27,760 and how to achieve that with marketing. 583 00:31:27,800 --> 00:31:29,920 If I have your support, 584 00:31:30,000 --> 00:31:31,800 we could touch a sales of Rs. 500 crores too. 585 00:31:31,920 --> 00:31:33,480 Wow! 586 00:31:33,880 --> 00:31:35,840 You're an incredible founder 587 00:31:35,920 --> 00:31:38,120 with an inspiring story and journey 588 00:31:38,240 --> 00:31:41,040 and a die-hard spirit. 589 00:31:41,160 --> 00:31:44,800 Your story has set an example for Indians for sure. 590 00:31:44,880 --> 00:31:45,720 Thank you, ma'am. 591 00:31:45,880 --> 00:31:48,360 Let's talk about the setbacks. 592 00:31:48,440 --> 00:31:49,400 The first is that 593 00:31:49,480 --> 00:31:53,240 you keep attributing brand-building to one factor alone 594 00:31:53,360 --> 00:31:55,160 which is your connection with the manufacturers. 595 00:31:55,240 --> 00:31:57,360 You talk only about the business. 596 00:31:57,440 --> 00:32:00,960 Manufacturer exclusivity alone will not grow the business. 597 00:32:01,080 --> 00:32:03,360 The differentiator that I could deduce was 598 00:32:03,440 --> 00:32:05,600 that you call the customer, which is amazing, 599 00:32:05,720 --> 00:32:07,480 but it's not a big enough differentiator. 600 00:32:07,560 --> 00:32:10,000 So, as of now, I'm out but best of luck. 601 00:32:11,640 --> 00:32:14,080 I think, firstly, you're a very good salesman. 602 00:32:14,200 --> 00:32:16,880 You are good at strategic planning. 603 00:32:17,000 --> 00:32:19,000 I was keen on making an offer 604 00:32:19,160 --> 00:32:20,640 but somehow, your answers 605 00:32:20,720 --> 00:32:22,760 were a little too good to be true. 606 00:32:22,920 --> 00:32:25,320 You said you wanted to make Himachal a start-up hub 607 00:32:25,400 --> 00:32:26,520 and you even invested. 608 00:32:26,600 --> 00:32:28,360 First, you should build something big. 609 00:32:28,440 --> 00:32:30,200 Go step by step, right? 610 00:32:30,400 --> 00:32:31,440 Leave some tasks to us. 611 00:32:31,560 --> 00:32:34,680 Somewhere, my gut does not permit me to invest. 612 00:32:34,800 --> 00:32:36,760 So, I am out but you'll do very well. 613 00:32:36,880 --> 00:32:39,360 I'd have been more focused had you come, but it's all right. 614 00:32:40,760 --> 00:32:42,440 - I'll make you an offer. - Whoa! 615 00:32:43,120 --> 00:32:45,000 I have no interest in your saree business. 616 00:32:45,120 --> 00:32:47,000 I don't understand what you're doing in the trading business, 617 00:32:47,080 --> 00:32:49,280 but I will feel bad if you leave empty-handed. 618 00:32:49,400 --> 00:32:51,040 - You're a great guy. - [Radhika chuckles] 619 00:32:51,200 --> 00:32:52,720 I can't give you Rs. 2 crores. 620 00:32:52,840 --> 00:32:55,840 I will make you an offer just to be associated with you. 621 00:32:55,920 --> 00:32:59,360 Rs. 20 lakhs in equity at 5% 622 00:32:59,480 --> 00:33:01,480 and Rs. 1.8 crores in debt 623 00:33:01,880 --> 00:33:03,680 at 10% interest for 2 years. 624 00:33:10,600 --> 00:33:11,600 So, Rs. 10 lakhs each. 625 00:33:11,760 --> 00:33:14,240 Or just invest Rs. 1.80 crores. You are rich. 626 00:33:14,360 --> 00:33:15,240 No, I'm saying... 627 00:33:15,400 --> 00:33:17,480 Let's step away and discuss this. 628 00:33:18,160 --> 00:33:20,240 Rs. 50 lakhs in equity... 629 00:33:20,480 --> 00:33:21,960 [tense music playing] 630 00:33:25,840 --> 00:33:26,960 Here's the offer. 631 00:33:27,040 --> 00:33:29,520 We will invest Rs. 50 lakhs. 632 00:33:29,720 --> 00:33:32,040 In return, we will take 5% ownership. 633 00:33:32,200 --> 00:33:34,800 We will give you Rs. 1.5 crores in debt. 634 00:33:34,960 --> 00:33:35,760 Do you want to join in? 635 00:33:39,200 --> 00:33:40,320 - Reduce debt... - She also wants to come. 636 00:33:40,400 --> 00:33:41,560 Okay, we'll combine it. 637 00:33:41,680 --> 00:33:43,080 Here's a revised deal 638 00:33:43,200 --> 00:33:45,280 to build a big business out of a small town. 639 00:33:45,360 --> 00:33:47,720 We will invest Rs. 75 lakhs 640 00:33:47,880 --> 00:33:50,240 for 7.5% equity in your company. 641 00:33:50,320 --> 00:33:52,600 Along with that, 642 00:33:52,720 --> 00:33:55,040 you will get a debt line of Rs. 1.25 crores 643 00:33:55,120 --> 00:33:57,840 which means the interest starts from the moment you draw down 644 00:33:57,920 --> 00:34:00,800 at 10% interest for 3 years. 645 00:34:08,040 --> 00:34:10,040 How about all three Sharks 646 00:34:10,200 --> 00:34:13,160 invest Rs. 1.2 crores, Rs. 40 lakhs each, 647 00:34:13,320 --> 00:34:16,640 at 6% equity, which is 2% each, 648 00:34:23,960 --> 00:34:25,880 Could we reduce the debt a little, sir? 649 00:34:25,960 --> 00:34:28,040 - Why? - A debt of Rs 30 to 40 lakhs won't make much difference. 650 00:34:28,160 --> 00:34:29,600 Here's my final counter. 651 00:34:29,800 --> 00:34:33,080 Would all three of you agree to the same amount at 6%? 652 00:34:33,200 --> 00:34:37,240 That is Rs. 75 lakhs at 6% equity, 2% equity each. 653 00:34:37,360 --> 00:34:38,360 How about that? 654 00:34:49,320 --> 00:34:50,960 Let's sell sarees together. 655 00:34:51,040 --> 00:34:52,760 Watch how our saree sales spike! 656 00:34:54,600 --> 00:34:55,640 [camera shutter clicking] 657 00:34:57,120 --> 00:34:58,760 I will be buying sarees only from you. 658 00:34:58,920 --> 00:34:59,760 Thank you, ma'am. 659 00:35:00,880 --> 00:35:02,320 Thank you, Sharks. Thank you so much. 660 00:35:07,960 --> 00:35:09,000 [music concludes] 661 00:35:10,920 --> 00:35:12,520 [theme music playing] 662 00:35:30,560 --> 00:35:32,080 [theme music concludes] 663 00:35:38,680 --> 00:35:40,640 And so, I designed my own life. 664 00:35:40,720 --> 00:35:42,920 After studying till the tenth grade in a small village, 665 00:35:43,000 --> 00:35:45,760 I got jobs as a factory worker and an office boy. 666 00:35:45,920 --> 00:35:48,600 I had a fire in me for design. 667 00:35:48,720 --> 00:35:50,400 So, when I was young, 668 00:35:50,680 --> 00:35:53,840 I learned drawing and painting from the village painter. 669 00:35:54,000 --> 00:35:55,560 I worked as an office boy 670 00:35:55,640 --> 00:35:58,960 and simultaneously learned design and became a designer. 671 00:36:41,040 --> 00:36:43,040 Sharks, while working in the design industry, 672 00:36:43,120 --> 00:36:46,520 I realised that when we prepare an invite for an occasion, 673 00:36:46,600 --> 00:36:48,040 they all look the same 674 00:36:48,160 --> 00:36:50,680 whether it is a wedding invite or a birthday invitation. 675 00:36:50,840 --> 00:36:53,280 When a designer sets out to create a fresh design, 676 00:36:53,360 --> 00:36:56,160 it takes him months and an investment of lakhs. 677 00:36:56,240 --> 00:36:57,760 To solve this problem 678 00:36:57,840 --> 00:36:59,640 and make the lives of designers easier, 679 00:36:59,800 --> 00:37:01,440 I present to you DesignTemplate. 680 00:37:01,960 --> 00:37:04,320 DesignTemplate is an online design marketplace 681 00:37:04,440 --> 00:37:07,400 where we provide premium motion graphics templates, 682 00:37:13,360 --> 00:37:16,800 he could achieve the same result in an hour by using our templates. 683 00:37:16,920 --> 00:37:21,600 Sharks, Dadasaheb Phalke was the pioneer of Indian cinema. 684 00:37:21,680 --> 00:37:24,000 Similarly, I, Dadasaheb Bhagat, seek your help 685 00:37:24,120 --> 00:37:27,160 to build a whole new world of design. 686 00:37:28,680 --> 00:37:30,440 Sharks, my ask is 687 00:37:30,640 --> 00:37:33,200 Rs. 1 crore for 2.5% equity. 688 00:37:33,360 --> 00:37:34,320 Wow. 689 00:37:34,920 --> 00:37:36,040 - Very well said. - Done? 690 00:37:36,160 --> 00:37:37,480 - Yes. - The tension is over. 691 00:37:45,600 --> 00:37:47,640 let me tell you, your story is inspiring. 692 00:37:47,760 --> 00:37:49,600 I had heard 693 00:37:49,760 --> 00:37:52,280 that life should be lived by design, not by default. 694 00:37:52,360 --> 00:37:54,520 Live your life on your own terms. 695 00:37:54,600 --> 00:37:57,080 You made design your life. 696 00:37:57,360 --> 00:37:59,000 You were nervous, but that's normal. 697 00:37:59,080 --> 00:38:02,160 You should be proud of yourself. 698 00:38:02,240 --> 00:38:04,480 Because you come from a humble background, 699 00:38:04,560 --> 00:38:07,240 and now, you are on the stage of Shark Tank. 700 00:38:07,320 --> 00:38:09,240 I think you should be very proud of yourself. 701 00:38:09,360 --> 00:38:11,680 - It's wonderful to have you here. - Thank you, ma'am. 702 00:38:13,000 --> 00:38:14,920 Tell us about yourself. 703 00:38:15,040 --> 00:38:18,680 How did you start in the design industry? 704 00:38:18,800 --> 00:38:19,880 What does your work entail? 705 00:38:19,960 --> 00:38:23,160 I am from Bid, Maharashtra. 706 00:38:23,240 --> 00:38:25,040 Back then, there was a painter in our village. 707 00:38:25,120 --> 00:38:27,040 He was near our school. 708 00:38:27,160 --> 00:38:30,080 I used to learn how to draw from him. 709 00:38:30,160 --> 00:38:31,880 And gradually, 710 00:38:31,960 --> 00:38:33,480 I completed 10th grade. 711 00:38:40,840 --> 00:38:42,600 My salary was Rs. 4,000. 712 00:38:42,680 --> 00:38:44,480 I found out that Infosys 713 00:38:44,560 --> 00:38:47,440 is offering a salary of Rs. 9,000 for the position of office boy. 714 00:38:48,760 --> 00:38:51,280 So, I thought of doing something there. 715 00:38:51,400 --> 00:38:53,120 I noticed that 716 00:38:53,200 --> 00:38:56,320 people are earning good money while working on computers. 717 00:38:56,400 --> 00:38:58,600 It is such a huge industry. 718 00:38:58,680 --> 00:39:01,560 People are travelling in a car. So, I thought of doing something 719 00:39:01,680 --> 00:39:03,440 - Very nice. - There was a college. 720 00:39:03,520 --> 00:39:06,000 I requested the employees at Infosys to give me a night shift. 721 00:39:06,080 --> 00:39:08,800 Simultaneously pursuing a part-time course in design. 722 00:39:08,880 --> 00:39:11,560 That is how I entered the design industry. 723 00:39:11,640 --> 00:39:14,480 When I went to Hyderabad, I noticed 724 00:39:14,560 --> 00:39:16,720 a board there. 725 00:39:16,800 --> 00:39:20,120 C programming was being taught for Rs. 1,099. 726 00:39:20,240 --> 00:39:23,320 - Really? - Since the course was so cheap, 727 00:39:23,560 --> 00:39:25,400 - I decided to learn. - Did you learn programming? 728 00:39:25,480 --> 00:39:26,600 - Yes. - Wow! 729 00:39:26,720 --> 00:39:29,720 Amazing! The youth should 730 00:39:29,840 --> 00:39:33,720 constantly upgrade themselves and their skills. 731 00:39:33,840 --> 00:39:34,960 It's beautiful. 732 00:39:35,040 --> 00:39:36,600 Knowledge is everywhere. 733 00:39:37,000 --> 00:39:38,120 Yes. Thank you! 734 00:39:38,200 --> 00:39:39,840 Within just three years, 735 00:39:39,920 --> 00:39:42,000 I became a VFX supervisor from a designer. 736 00:39:42,120 --> 00:39:45,640 - Wow! - Transformers: Rescue Bots animation series was going on. 737 00:39:45,720 --> 00:39:46,920 They had 738 00:39:47,040 --> 00:39:49,800 given this assignment to some studios nationwide, 739 00:39:49,920 --> 00:39:51,520 while I was leading it. 740 00:39:51,600 --> 00:39:55,080 Half of the work was dedicated to repeatable tasks. 741 00:39:55,160 --> 00:39:57,480 I created scripts and plug-ins 742 00:39:57,560 --> 00:40:00,440 to simplify the rendering process, allowing one person 743 00:40:00,520 --> 00:40:03,400 to complete the work of four people in just one hour. 744 00:40:04,520 --> 00:40:06,360 That's where my fascination 745 00:40:06,480 --> 00:40:09,560 with blending design and technology started. 746 00:40:09,680 --> 00:40:12,520 In 2018, I realised 747 00:40:12,640 --> 00:40:15,360 that India doesn't have design software. 748 00:40:15,600 --> 00:40:18,120 India is mostly dependent on other countries 749 00:40:18,200 --> 00:40:21,120 - for more than 80% of designs. - Correct. 750 00:40:21,200 --> 00:40:23,680 India should have its own software, 751 00:40:23,760 --> 00:40:25,760 so we started Doographics. 752 00:40:25,840 --> 00:40:27,720 We launched it in 2020. 753 00:40:27,800 --> 00:40:29,000 What does this software do? 754 00:40:29,080 --> 00:40:30,840 This is for graphic designing. 755 00:40:32,640 --> 00:40:34,280 This is the Doographics website. 756 00:40:34,440 --> 00:40:37,040 Your company's name is Design Template, 757 00:40:37,120 --> 00:40:38,600 and Doographics is your product's name. 758 00:40:38,680 --> 00:40:41,640 No! Sorry. This just came up. 759 00:40:42,640 --> 00:40:44,360 The issue with Doographics was, 760 00:40:44,440 --> 00:40:47,240 I started it during COVID. 761 00:40:47,320 --> 00:40:49,640 I had to shut down my office and return to my native place. 762 00:40:49,720 --> 00:40:51,920 We didn't have a place to work. 763 00:40:52,000 --> 00:40:55,880 We constructed a shed atop a mountain. 764 00:40:56,000 --> 00:40:59,240 Similar to a cowshed. We worked there throughout the day. 765 00:40:59,360 --> 00:41:00,840 - Is this the one? - Yes. 766 00:41:00,960 --> 00:41:03,160 We didn't go home for around 6 months. 767 00:41:06,280 --> 00:41:07,800 It's off-site... 768 00:41:07,880 --> 00:41:10,520 Your workplace is unconventional. It's lovely. 769 00:41:10,600 --> 00:41:11,560 Wow! 770 00:41:11,640 --> 00:41:14,080 The problem that came up was 771 00:41:14,160 --> 00:41:17,400 that our competitors have a huge sum of money. 772 00:41:17,480 --> 00:41:19,400 We couldn't compete with them. 773 00:41:19,480 --> 00:41:21,280 So, we pivoted. 774 00:41:21,400 --> 00:41:23,400 We thought of launching a design template first 775 00:41:23,480 --> 00:41:25,480 and generating good revenue. 776 00:41:25,600 --> 00:41:27,480 That is how we launched this in the market. 777 00:41:42,840 --> 00:41:46,760 We have 15,000 motion graphic templates. 778 00:41:47,880 --> 00:41:51,080 There are categories such as 779 00:41:51,200 --> 00:41:52,840 movie trailers, explanatory videos, 780 00:41:52,920 --> 00:41:55,160 slide shows and more. 781 00:41:55,240 --> 00:41:58,240 Our targetted audiences 782 00:41:58,320 --> 00:42:01,360 are YouTubers, Content Creators, 783 00:42:08,160 --> 00:42:09,000 Very nice. 784 00:42:09,160 --> 00:42:12,200 You can alter this. You give raw files. 785 00:42:12,280 --> 00:42:15,480 - Yes! - You can buy the template here. 786 00:42:15,560 --> 00:42:18,960 You can edit the template in Adobe software. 787 00:42:23,760 --> 00:42:26,040 The user can buy it from there as well. 788 00:42:26,160 --> 00:42:28,080 How much is the price mentioned? 789 00:42:28,160 --> 00:42:29,840 It is in dollars. 790 00:42:29,920 --> 00:42:32,280 Since our services are primarily utilized internationally. 791 00:42:32,360 --> 00:42:34,000 How much is it in dollars? 792 00:42:39,560 --> 00:42:42,720 ยค6 for only one user. 793 00:42:42,800 --> 00:42:46,720 If you purchase a multi-license, numerous clients can use it. 794 00:42:46,800 --> 00:42:49,560 - So, single use and multiple use. - Yes. 795 00:42:51,400 --> 00:42:52,520 Only 10% 796 00:42:52,640 --> 00:42:56,480 of our templates are on a different platform to sell. 797 00:43:02,400 --> 00:43:04,720 - Do you have full-time team members? - Yes. 798 00:43:04,800 --> 00:43:06,400 - How many people are there? - 15 people. 799 00:43:07,080 --> 00:43:09,280 How much revenue have you generated this year? 800 00:43:09,360 --> 00:43:10,480 How much was it last year? 801 00:43:10,600 --> 00:43:13,400 Our last month's revenue was Rs. 16 lakhs. 802 00:43:14,400 --> 00:43:17,280 Last year's revenue was Rs. 1.60 crores. 803 00:43:17,400 --> 00:43:19,960 - Amazing! - It was Rs. 92 lakhs before that. 804 00:43:20,040 --> 00:43:21,480 Prior to that, it was Rs. 32 lakhs. 805 00:43:21,600 --> 00:43:24,120 - What is your revenue projection for this year? - How much? 806 00:43:24,200 --> 00:43:25,800 Around Rs. 3-4 crores. 807 00:43:28,680 --> 00:43:31,000 Until now, our... 808 00:43:34,400 --> 00:43:35,640 How much profit are you making? 809 00:43:35,760 --> 00:43:38,120 Our team's expense 810 00:43:38,200 --> 00:43:39,600 is only Rs. 4 lakhs now. 811 00:43:46,040 --> 00:43:48,040 Share the sales figures from the previous month. 812 00:43:48,160 --> 00:43:49,280 Last month was Rs. 16 lakhs. 813 00:43:49,360 --> 00:43:51,800 - How much did you allocate for salary expenses? - Rs. 4 lakhs. 814 00:43:51,880 --> 00:43:54,800 Rs. 4 lakhs in salary. Which is 25%. What else? 815 00:43:54,880 --> 00:43:56,240 You have Rs. 12 lakhs left. 816 00:43:56,440 --> 00:43:58,480 We are currently 817 00:44:05,080 --> 00:44:08,240 You have different marketplaces where your template is used. 818 00:44:08,320 --> 00:44:09,440 So, you pay them a commission. 819 00:44:09,520 --> 00:44:11,080 - Right! - How much is it? 820 00:44:11,160 --> 00:44:12,240 50% is their commission. 821 00:44:12,320 --> 00:44:14,120 Tell us the absolute amount. 822 00:44:14,200 --> 00:44:16,000 - Rs. 8 lakhs from Rs.16 lakhs. - Rs.8 lakhs in commission. 823 00:44:16,080 --> 00:44:17,800 Rs. 8 in commission and Rs. 4 lakhs on salary. 824 00:44:17,880 --> 00:44:19,320 You spent Rs. 12 lakhs. So, you are left with Rs. 4 lakhs. 825 00:44:19,400 --> 00:44:22,320 We spent Rs.2 Lakhs on developing technology. 826 00:44:22,400 --> 00:44:25,480 And we gave Rs. 2 lakhs as incentives to our team. 827 00:44:25,560 --> 00:44:27,040 We wanted to speed up 828 00:44:27,120 --> 00:44:29,040 - the design process. - You spent on the team, right? 829 00:44:29,080 --> 00:44:30,680 - Instead of Rs. 4 lakhs, it's now Rs. 6 lakhs. - Yes. 830 00:44:30,760 --> 00:44:32,480 How are you managing your expenses? 831 00:44:32,680 --> 00:44:34,920 I take a salary. 832 00:44:35,000 --> 00:44:36,120 - Okay, your salary. - Yes. 833 00:44:36,200 --> 00:44:37,440 How much salary do you take? 834 00:44:37,520 --> 00:44:38,920 My salary is Rs. 60,000. 835 00:44:39,040 --> 00:44:40,600 Why do you want Rs. 1 crore? 836 00:44:40,680 --> 00:44:42,840 60% will be allocated for marketing. 837 00:44:42,920 --> 00:44:45,480 You don't require marketing. Your content serves as marketing. 838 00:44:45,600 --> 00:44:47,760 No! He has to do marketing for the marketplace. 839 00:44:47,840 --> 00:44:49,000 He will promote 840 00:44:49,080 --> 00:44:51,000 - his website. - 40% will be allocated to technology. 841 00:44:51,080 --> 00:44:54,200 - 40% technology, 60% marketing. - Yes. 842 00:44:54,280 --> 00:44:56,560 Why don't you want to grow this 843 00:44:56,600 --> 00:44:58,880 in the marketplace till it reaches Rs. 100 crores? 844 00:44:58,960 --> 00:45:01,640 To invest in traffic 845 00:45:01,760 --> 00:45:03,560 and generate trust is expensive. 846 00:45:03,640 --> 00:45:05,320 This is a digital product. 847 00:45:05,400 --> 00:45:08,200 It depends on the level of your distribution. 848 00:45:08,280 --> 00:45:10,680 You earn more if you sell to more people. 849 00:45:10,840 --> 00:45:13,160 You will reach more people in the marketplace. 850 00:45:13,240 --> 00:45:14,320 Vineeta is saying just that. 851 00:45:14,400 --> 00:45:17,320 Instead of spending Rs.60 lakhs, you have a model. 852 00:45:17,360 --> 00:45:20,920 - By selling on marketplaces, your core USP is design. - Correct. 853 00:45:21,000 --> 00:45:23,360 - We saw that your designs are good. - Yes. 854 00:45:23,480 --> 00:45:25,880 You can sell on that. And commission... 855 00:45:26,000 --> 00:45:27,360 I am pretty sure it will be slabwise. 856 00:45:27,440 --> 00:45:30,320 If you increase your sales, the commission won't be as high as 50%. 857 00:45:30,400 --> 00:45:33,480 Why don't you make that business worth Rs. 40-50 crores? 858 00:45:33,560 --> 00:45:35,960 - Correct. - So much money... If this website doesn't work 859 00:45:36,080 --> 00:45:38,840 - your money will be spent. - Because that is your right to win. 860 00:45:38,920 --> 00:45:41,040 - It's your designs. - For Rs. 60 lakhs 861 00:45:41,080 --> 00:45:42,400 what marketing will you do? 862 00:45:43,720 --> 00:45:47,080 - Mr. Bhagat, no one is asking you not to run your website. - Yes. 863 00:45:47,160 --> 00:45:49,240 We're just wondering, why are you discontinuing what's working. 864 00:45:49,320 --> 00:45:51,240 We are not doing that immediately. 865 00:45:51,320 --> 00:45:53,080 There are restrictions there. 866 00:45:53,160 --> 00:45:55,440 They have a limited customer base. 867 00:45:55,520 --> 00:45:57,720 Sell it on Shutterstock and ImagesBazaar. 868 00:45:57,800 --> 00:46:00,000 - There are many... - You are constraining your supply. 869 00:46:00,080 --> 00:46:02,640 You are just giving them 10%? Why aren't you giving them 100%? 870 00:46:02,760 --> 00:46:04,760 We can generate Rs. 1 crore in revenue 871 00:46:04,880 --> 00:46:06,760 if we put our minds to it. 872 00:46:07,400 --> 00:46:09,360 But then the quality of our product 873 00:46:09,440 --> 00:46:11,240 will deteriorate. 874 00:46:11,360 --> 00:46:12,960 It won't last in the long term. 875 00:46:13,080 --> 00:46:15,720 - Therefore, we... - Because if you sell your designs there 876 00:46:15,800 --> 00:46:17,240 no one will visit your site. 877 00:46:17,360 --> 00:46:19,080 True! They will become our competitors. 878 00:46:19,200 --> 00:46:23,040 Do you still believe that you prefer not to distribute on Envato? 879 00:46:23,120 --> 00:46:25,280 In the future. When our website's revenue goes up, 880 00:46:25,360 --> 00:46:27,360 only then will we stop our distribution. 881 00:46:27,440 --> 00:46:29,440 Okay! What is your vision for the next three years? 882 00:46:29,520 --> 00:46:31,480 How much will your business grow in 2027? 883 00:46:31,600 --> 00:46:34,600 We want to generate a revenue of Rs. 100 crores. 884 00:46:34,720 --> 00:46:37,400 Tell me something. The designs you make, 885 00:46:37,480 --> 00:46:39,040 do you have a USP? 886 00:46:50,720 --> 00:46:52,000 or I am a fool. 887 00:46:52,240 --> 00:46:54,320 Sorry! That is not what I mean. 888 00:46:54,400 --> 00:46:56,320 If someone has a studio... 889 00:46:56,400 --> 00:46:57,960 Sorry, you... 890 00:46:58,040 --> 00:46:59,080 He is not taking it personally. 891 00:46:59,160 --> 00:47:02,080 That is your advantage because you are running a low-cost operation. 892 00:47:02,160 --> 00:47:04,560 Yes! And my technological integration... 893 00:47:04,680 --> 00:47:07,440 That is what I am talking about. You mentioned tech integration. 894 00:47:07,520 --> 00:47:09,560 I will spend Rs. 50,000, 895 00:47:09,680 --> 00:47:12,520 but you will spend Rs. 2,000, why is that? 896 00:47:21,600 --> 00:47:25,480 like 3D softwares and Adobe, which speeds up the process. 897 00:47:25,560 --> 00:47:26,920 I can also do that with AI. 898 00:47:27,000 --> 00:47:30,160 If I ask AI to make the set of Shark Tank India, 899 00:47:30,240 --> 00:47:31,200 it will make it for me. 900 00:47:31,280 --> 00:47:33,080 - Yes, sir. - It will create an image. 901 00:47:33,200 --> 00:47:34,840 But if you want to convert it to video... 902 00:47:34,920 --> 00:47:36,960 Progressive generative AI is slowly making its way 903 00:47:37,000 --> 00:47:38,760 into the world of motion graphics. 904 00:47:38,840 --> 00:47:41,400 You haven't developed a technology 905 00:47:41,520 --> 00:47:43,720 that could make your template creation 906 00:47:43,800 --> 00:47:45,840 cheaper than others. 907 00:47:45,920 --> 00:47:48,200 We have developed our technology for template creation 908 00:47:48,280 --> 00:47:50,400 so that we can work faster. 909 00:47:50,480 --> 00:47:51,560 In IP creation. 910 00:47:51,680 --> 00:47:54,240 Who handles technology? 911 00:47:54,320 --> 00:47:57,200 I cannot handle many things at once. 912 00:47:57,280 --> 00:48:01,000 I know a few people who are experienced in the US 913 00:48:01,080 --> 00:48:04,480 or renowned companies when it comes to CPUs. 914 00:48:04,560 --> 00:48:06,440 I want to bring them on board 915 00:48:06,520 --> 00:48:07,840 so that they can handle my technology. 916 00:48:07,920 --> 00:48:10,640 How does your thought process work? How are you so smart? 917 00:48:10,720 --> 00:48:12,000 Your strategy is impressive. 918 00:48:12,120 --> 00:48:13,960 You started as an office boy. Look at your ideas now. 919 00:48:14,040 --> 00:48:16,560 - He has a vision. - Having practical experience 920 00:48:16,680 --> 00:48:18,960 and solving the problems I've faced... 921 00:48:19,040 --> 00:48:21,240 You were nervous when you started the pitch. 922 00:48:21,320 --> 00:48:24,240 You couldn't speak. And now, you have answers to all the questions. 923 00:48:24,360 --> 00:48:26,080 He is giving great answers. 924 00:48:29,720 --> 00:48:34,400 Mr. Dadasaheb, you have a good mindset for the long term. 925 00:48:34,480 --> 00:48:38,440 But the challenge that we are facing investors 926 00:48:38,600 --> 00:48:40,920 is that your skill set and right to win 927 00:48:41,000 --> 00:48:43,240 is centred around design production. 928 00:48:43,360 --> 00:48:45,400 Now, the skill set you need to win 929 00:48:54,400 --> 00:48:55,720 to do this part or not. 930 00:48:55,800 --> 00:48:58,440 So, as of now, I don't think I can invest. 931 00:48:58,520 --> 00:49:01,440 I'm not very familiar with this area, 932 00:49:01,560 --> 00:49:03,360 so it's hard for me to grasp the competitive landscape. 933 00:49:03,440 --> 00:49:05,200 So, I am out today. 934 00:49:05,280 --> 00:49:06,600 But, best of luck! 935 00:49:06,680 --> 00:49:08,000 Thank you, Ms. Vineeta. 936 00:49:13,240 --> 00:49:15,040 I believe you have big dreams. 937 00:49:15,120 --> 00:49:18,000 And you should fulfil your dreams step by step. 938 00:49:18,080 --> 00:49:20,320 I will give you an offer, okay? 939 00:49:20,400 --> 00:49:21,680 But it's a conditional offer. 940 00:49:26,400 --> 00:49:29,000 - I don't want you to invest Rs. 1 crore in marketing. - Yes. 941 00:49:29,120 --> 00:49:33,080 I want you to invest this in your team and technology. 942 00:49:33,200 --> 00:49:35,200 I want you to use AI 943 00:49:38,520 --> 00:49:40,320 If it is sold on your website, 944 00:49:40,400 --> 00:49:42,760 it's probably because of its design capabilities 945 00:49:42,880 --> 00:49:44,000 - not because of marketing. - Marketing. 946 00:49:44,080 --> 00:49:45,800 We can do social media marketing. 947 00:49:45,880 --> 00:49:47,840 But not a lot of paid marketing. 948 00:49:48,360 --> 00:49:51,800 I will give you Rs. 1 crore for 10% equity. 949 00:49:53,120 --> 00:49:54,840 I will also take royalty from you. 950 00:49:54,920 --> 00:49:57,320 2% of revenue 951 00:49:57,440 --> 00:49:59,760 until Rs. 2 crores is recouped. 952 00:50:01,520 --> 00:50:03,480 I think there is a difference 953 00:50:03,560 --> 00:50:08,280 of 6-9 months in the current situation in the business. 954 00:50:08,360 --> 00:50:10,680 That is because your B2B business... 955 00:50:10,760 --> 00:50:13,280 As the other Sharks mentioned. 956 00:50:13,480 --> 00:50:17,760 - You've seen OYO rooms on other platforms too. - Yes. 957 00:50:17,920 --> 00:50:20,680 - But it doesn't mean you keep others deprived of it. - Correct. 958 00:50:20,760 --> 00:50:21,880 It is not wrong. 959 00:50:24,680 --> 00:50:26,440 Yours is a B2B business now. 960 00:50:31,840 --> 00:50:33,160 That is why I am out. 961 00:50:33,240 --> 00:50:34,680 - Thank you, sir. - Best wishes. 962 00:50:35,440 --> 00:50:37,040 I haven't come across individuals with 963 00:50:37,120 --> 00:50:38,960 such ambitious goals as yours in big cities. 964 00:50:39,280 --> 00:50:42,080 - Thank you! - Incredible! I am getting emotional about this. 965 00:50:42,160 --> 00:50:44,160 - You deserve a clap. - Thank you. 966 00:50:44,240 --> 00:50:47,360 - I am getting emotional! It's amazing. - Thank you, ma'am. 967 00:50:47,440 --> 00:50:50,840 Secondly, if this were a design business, 968 00:50:56,520 --> 00:50:58,840 But I am an investor. 969 00:50:58,920 --> 00:51:00,800 I have to look at the past track record. 970 00:51:00,880 --> 00:51:03,400 And you want to get into distribution. 971 00:51:03,480 --> 00:51:05,880 I don't have a history of distribution. 972 00:51:05,960 --> 00:51:07,360 And this is where I am struggling. 973 00:51:07,440 --> 00:51:09,160 So, for that reason, I am out. 974 00:51:09,240 --> 00:51:11,680 - Thank you, Radhika ma'am. - And I wish you all the best. 975 00:51:11,760 --> 00:51:13,000 Thank you, ma'am. 976 00:51:22,840 --> 00:51:25,080 I will give you the same offer. Rs. 1 crore for 10%. 977 00:51:25,160 --> 00:51:27,160 But I won't take royalty from you. 978 00:51:32,720 --> 00:51:34,800 But that is not what I believe. 979 00:51:35,320 --> 00:51:36,760 I believe 980 00:51:36,880 --> 00:51:39,440 that if someone genuinely gives you Rs. 1 crore, 981 00:51:39,560 --> 00:51:42,240 they deserve a royalty for repayment. 982 00:51:42,320 --> 00:51:44,960 My offer stays the same. You choose. 983 00:51:45,040 --> 00:51:48,560 Mr. Aman, I appreciate your offer. 984 00:51:49,480 --> 00:51:53,120 I have a counteroffer. 985 00:51:53,200 --> 00:51:55,440 You won't get a better offer than this. 986 00:51:55,520 --> 00:51:56,600 It's good. 987 00:51:56,680 --> 00:52:00,040 - Sorry! - Tell us. He has the right to counteroffer. 988 00:52:00,160 --> 00:52:02,000 5% for... 989 00:52:03,000 --> 00:52:04,920 - Your counteroffer is Rs. 1 crore for 5%. - Yes. 990 00:52:12,320 --> 00:52:13,760 Mr. Dadasaheb! 991 00:52:14,960 --> 00:52:16,840 I prefer not to do this 992 00:52:18,400 --> 00:52:23,560 - because it's hard to foresee future outcomes. - Yes. 993 00:52:23,640 --> 00:52:25,560 There are challenges. 994 00:52:25,640 --> 00:52:27,560 Rs. 10 crores is not a bad valuation. 995 00:52:27,640 --> 00:52:29,520 - I am not being unjust to you. - 100% 996 00:52:29,600 --> 00:52:31,680 - It's a fantastic valuation. - Generous offer. 997 00:52:32,160 --> 00:52:34,480 [suspenseful music playing] 998 00:52:36,800 --> 00:52:37,840 Deal done! 999 00:52:43,760 --> 00:52:45,880 I don't believe it! You are a magician! 1000 00:52:45,960 --> 00:52:48,320 - You are an expert in your field. - Oh my! 1001 00:52:48,560 --> 00:52:50,920 - Thank you, sir. - Congratulations. 1002 00:52:51,560 --> 00:52:53,520 - Well done and well deserved. - So proud of you. 1003 00:52:53,600 --> 00:52:56,480 - Thank you, everyone. - Best of luck. 1004 00:52:57,200 --> 00:53:00,080 [pleasant music playing] 1005 00:53:56,840 --> 00:53:58,400 Hello and welcome to Ask the Shark. 1006 00:53:58,480 --> 00:54:02,320 We have the MD and CEO of Edelweiss Mutual Fund, 1007 00:54:02,400 --> 00:54:04,480 Ms. Radhika Gupta. Ma'am, welcome. 1008 00:54:04,680 --> 00:54:08,400 Yashashri from Chennai has a question for you. 1009 00:54:08,560 --> 00:54:12,240 It says, Radhika, you work for a company. 1010 00:54:12,360 --> 00:54:13,400 Did you encounter challenges 1011 00:54:13,480 --> 00:54:15,800 transitioning from a founder to an employee? 1012 00:54:16,120 --> 00:54:20,240 Did you struggle with taking orders from someone else? 1013 00:54:20,560 --> 00:54:22,120 It is a good question. 1014 00:54:22,240 --> 00:54:23,760 I think it doesn't matter. 1015 00:54:23,880 --> 00:54:25,880 Entrepreneurship is not about 1016 00:54:25,960 --> 00:54:28,160 owning shares, but about intellect. 1017 00:54:28,280 --> 00:54:30,560 It's a state of mind, not a state of employment. 1018 00:54:30,880 --> 00:54:34,280 The second question is whether I work for someone. 1019 00:54:34,520 --> 00:54:37,400 You are always working for someone and that is your customer. 1020 00:54:37,480 --> 00:54:39,560 Back then, customers were my boss. 1021 00:54:39,640 --> 00:54:42,040 Even now, my boss is the customer. 1022 00:54:42,120 --> 00:54:44,720 Everyone in life has a boss. 1023 00:55:17,920 --> 00:55:20,360 Stay tuned. We will meet in the next Ask The Shark. 1024 00:55:20,440 --> 00:55:23,000 With a new Shark and a new question. Stay tuned!