1 00:00:10,000 --> 00:00:12,400 [suspenseful music playing] 2 00:00:15,680 --> 00:00:18,320 [intriguing music plays] 3 00:00:24,280 --> 00:00:26,120 [water bubbling] 4 00:00:28,520 --> 00:00:31,080 [tense music plays] 5 00:00:40,760 --> 00:00:42,720 [gas hissing] 6 00:00:46,440 --> 00:00:49,200 [thrilling music playing] 7 00:00:52,600 --> 00:00:53,600 Welcome to Delhi! 8 00:00:53,880 --> 00:00:55,560 [dramatic music playing] 9 00:00:57,200 --> 00:00:59,560 Sharks, we need such gas masks 10 00:00:59,640 --> 00:01:02,120 when the air is toxic. 11 00:01:04,280 --> 00:01:07,360 Sharks, around 3-4 crore tonnes of paddy straw waste is burnt 12 00:01:31,880 --> 00:01:33,640 'Dharaksha Ecosolutions' 13 00:01:34,760 --> 00:01:38,160 Dharaksha is a biotech-driven R&D company 14 00:01:47,560 --> 00:01:49,920 Thermocol is a petroleum-driven product 15 00:01:50,040 --> 00:01:52,600 which takes 2,000 years to degrade. 16 00:02:01,080 --> 00:02:03,280 Thermocol is a bigger problem than plastic 17 00:02:03,360 --> 00:02:05,680 because its ability to be recycled is less than 2%. 18 00:02:06,640 --> 00:02:07,960 Sharks, our vision 19 00:02:08,040 --> 00:02:10,160 is to create a sustainable future 20 00:02:10,240 --> 00:02:12,600 where everyone gets clean air and water. 21 00:02:35,840 --> 00:02:39,000 We want your 100 hours to help our business grow. 22 00:02:39,680 --> 00:02:41,760 Do you want just Rs. 1,250? 23 00:02:41,840 --> 00:02:44,920 Or do you want Rs. 1,250 plus 100 hours? 24 00:02:45,040 --> 00:02:47,880 - Plus 100 hours. - You didn't mention it in your ask. 25 00:02:47,960 --> 00:02:50,760 We want your 100 hours against 1% equity. 26 00:03:08,000 --> 00:03:09,120 Engineering was my first love. 27 00:03:09,200 --> 00:03:12,120 I pursued mechanical engineering between 2010 and 2014. 28 00:03:12,200 --> 00:03:14,200 We were roommates while we were pursuing our bachelor's degree 29 00:03:22,960 --> 00:03:25,080 I pursued a course in Design of machine elements. 30 00:03:28,560 --> 00:03:32,880 I had a realisation and a clear vision to recreate clean blue skies. 31 00:03:33,680 --> 00:03:35,120 All of you are well-travelled. 32 00:03:35,200 --> 00:03:38,920 When you go to Europe or the US, the world appears to be in HD. 33 00:03:39,000 --> 00:03:41,680 The colours appear bright. 34 00:03:42,080 --> 00:03:43,680 It's not the same in Delhi or any other big city. 35 00:03:43,760 --> 00:03:46,480 I felt that access to clean air should be democratised. 36 00:03:46,560 --> 00:03:48,800 It's not fair that the West has clean air but we don't. 37 00:03:48,880 --> 00:03:49,800 It's a nice thinking. 38 00:03:51,880 --> 00:03:55,160 I started researching the reasons for pollution. 39 00:03:55,240 --> 00:03:57,720 During my research, I chanced upon crop stubble waste burning. 40 00:03:59,480 --> 00:04:01,280 Two crore tonnes get burned every year. 41 00:04:01,360 --> 00:04:03,160 It's a bigger fire than the one in the Amazon rainforest. 42 00:04:03,600 --> 00:04:05,080 Delhi turns into a gas chamber. 43 00:04:11,080 --> 00:04:13,120 and started researching. 44 00:04:13,200 --> 00:04:15,000 Anand's background... 45 00:04:15,080 --> 00:04:17,000 I hail from Jaipur. 46 00:04:21,880 --> 00:04:24,200 My dad teaches us a lot of things. 47 00:04:24,320 --> 00:04:25,360 Well done. 48 00:04:25,440 --> 00:04:28,080 I wanted to do some business. 49 00:04:28,160 --> 00:04:30,240 I always had that interest. 50 00:04:30,320 --> 00:04:33,480 However, I joined the bandwagon and pursued engineering. 51 00:04:34,120 --> 00:04:38,640 By the 3rd or 4th semester, I felt I didn't want to do engineering. 52 00:04:39,600 --> 00:04:41,440 Then I pursued psychology 53 00:04:41,520 --> 00:04:43,760 because I wanted to learn decision-making. 54 00:04:43,880 --> 00:04:45,040 Amazing! 55 00:04:45,120 --> 00:04:47,800 If I could influence you for a good cause, 56 00:04:48,040 --> 00:04:49,400 there can't be anything better than that. 57 00:04:49,480 --> 00:04:52,760 Then I joined PumPumPum Cars. 58 00:04:52,920 --> 00:04:54,960 Who are they? 59 00:04:55,080 --> 00:04:56,240 Anupam Cars. 60 00:04:56,320 --> 00:04:58,480 It means we can call you Pumpum. 61 00:04:58,640 --> 00:05:00,360 My friends call me Pumpum. I can't help it. 62 00:05:00,400 --> 00:05:01,440 - "Pumpum!" - [laughing] 63 00:05:01,920 --> 00:05:03,280 This is new learning. 64 00:05:08,120 --> 00:05:09,160 It's a car leasing company. 65 00:05:09,920 --> 00:05:11,600 - Pum... - [laughing] 66 00:05:11,720 --> 00:05:15,480 I was doing good when Arpit reached out to me. 67 00:05:19,920 --> 00:05:22,400 I think Arpit is problematic. 68 00:05:22,520 --> 00:05:24,640 He compelled Anand to drop out of college. 69 00:05:24,720 --> 00:05:26,640 [laughing] 70 00:05:26,760 --> 00:05:28,600 Then he incited him to leave his job. 71 00:05:29,520 --> 00:05:30,440 Actually, it happened. 72 00:05:30,520 --> 00:05:33,720 When he decided to drop out, his parents came over 73 00:05:33,800 --> 00:05:38,360 - and tried to find the roommate who incited him. - Here's the truth! 74 00:05:38,640 --> 00:05:39,680 Who is that man? 75 00:05:41,200 --> 00:05:43,800 They had already questioned our friends by then. 76 00:05:43,880 --> 00:05:44,960 It was a serious situation. 77 00:05:45,040 --> 00:05:48,320 I was late. They said, "Anand wants to drop out." I said, "let him." 78 00:05:48,440 --> 00:05:50,200 [laughing] 79 00:05:52,960 --> 00:05:55,160 - How old are you two? - 31 years old. 80 00:05:55,720 --> 00:05:58,240 You two are stoic about it. 81 00:06:04,600 --> 00:06:06,560 How did you develop this attitude? 82 00:06:06,640 --> 00:06:08,160 How could you be so different? 83 00:06:08,280 --> 00:06:09,840 How come you two are clear about your goal? 84 00:06:09,960 --> 00:06:12,040 Let me give you a few examples. 85 00:06:12,120 --> 00:06:15,520 As a child, I was fond of playing football. 86 00:06:15,640 --> 00:06:17,520 I didn't play well though. 87 00:06:17,640 --> 00:06:18,720 However, I enjoyed it. 88 00:06:18,840 --> 00:06:19,840 I'm the same. 89 00:06:21,000 --> 00:06:23,640 I developed an allergy by the 12th grade. 90 00:06:24,680 --> 00:06:27,760 If I ran, I developed skin irritation 91 00:06:27,880 --> 00:06:29,960 - which was connected to air pollution. - Oh! 92 00:06:30,520 --> 00:06:32,000 The doctor said, "stop playing." 93 00:06:32,160 --> 00:06:33,480 I found it bizarre. 94 00:06:33,560 --> 00:06:36,840 My studies or my parents weren't a hindrance but the air was. 95 00:06:37,600 --> 00:06:39,800 I felt that a person's choice 96 00:06:39,880 --> 00:06:42,480 shouldn't be affected by the environment. 97 00:06:42,760 --> 00:06:44,240 This was one of the triggers. 98 00:06:44,360 --> 00:06:47,480 I travelled a lot while pursuing engineering. 99 00:06:47,560 --> 00:06:50,720 I developed a machine during my college 100 00:06:50,880 --> 00:06:52,280 which could run in agricultural fields. 101 00:06:52,440 --> 00:06:54,920 It could reduce the consumption of fertilisers by 40% 102 00:06:55,000 --> 00:06:56,520 and increase the yield by 25%. 103 00:06:56,600 --> 00:06:57,760 I went to Tier 2, Tier 3, and Tier 4 locations 104 00:06:57,840 --> 00:07:00,280 for the trial of such projects. 105 00:07:00,720 --> 00:07:03,880 Until then I used to think, "I study in a Tier 2 college." 106 00:07:03,960 --> 00:07:05,320 I didn't value my college. 107 00:07:05,400 --> 00:07:06,640 The one affiliated to GGSIPU. 108 00:07:06,720 --> 00:07:09,840 But when I went to those locations, I realised that the local people 109 00:07:09,920 --> 00:07:11,360 couldn't even afford the form of my college. 110 00:07:11,800 --> 00:07:13,000 Hmm. 111 00:07:13,240 --> 00:07:15,320 That's how I began realising 112 00:07:15,400 --> 00:07:18,680 that I was lucky enough to get these facilities 113 00:07:18,960 --> 00:07:20,120 even though I hadn't made enough effort. 114 00:07:20,200 --> 00:07:22,560 Your journey started with gratitude. 115 00:07:22,640 --> 00:07:24,760 - Yes. - It's a profound realisation. 116 00:07:24,840 --> 00:07:27,600 Most of the people don't feel grateful even in a lifetime. 117 00:07:27,720 --> 00:07:30,440 Somehow it's inborn for you. Well done! 118 00:07:30,600 --> 00:07:33,000 On that note, please explain your business in detail. 119 00:07:33,440 --> 00:07:35,560 Sharks, would any one of you like to come here? 120 00:07:35,680 --> 00:07:37,360 [ethereal music playing] 121 00:07:40,760 --> 00:07:42,520 Suppose we grow rice paddy in a field. 122 00:07:42,600 --> 00:07:45,080 - Yes - We harvested the rice grains. 123 00:07:45,160 --> 00:07:47,520 - Right. - The leftover plant is the waste. 124 00:07:47,600 --> 00:07:49,040 - That's paddy stubble waste. - Yes. 125 00:07:49,120 --> 00:07:50,120 - Okay? - This is the same thing. 126 00:07:50,200 --> 00:07:51,120 - That's right. - Okay. 127 00:07:51,200 --> 00:07:53,880 The farmers burn this. It gets transported to us. 128 00:08:08,000 --> 00:08:09,320 It's a bag having grown roots. 129 00:08:11,120 --> 00:08:12,840 Let me break it. 130 00:08:12,920 --> 00:08:15,360 You can see it's full of mycelium. 131 00:08:15,480 --> 00:08:17,240 You may check the texture. 132 00:08:27,920 --> 00:08:30,440 - This is how we fill a mould. - I got it. 133 00:08:35,320 --> 00:08:36,760 Once it's baked, it becomes dead. 134 00:08:46,440 --> 00:08:47,280 Yes. 135 00:08:47,360 --> 00:08:48,360 Is it more expensive? 136 00:08:48,480 --> 00:08:51,320 It's surely expensive. That's the reason I need your 100 hours. 137 00:08:51,400 --> 00:08:53,600 How expensive? Twice, thrice, four times... 138 00:08:53,680 --> 00:08:55,400 - It's twice or thrice currently. - Twice or thrice. 139 00:09:02,600 --> 00:09:07,080 The materials used to make boxes currently, are sustainable, right? 140 00:09:07,160 --> 00:09:09,040 Currently, you have just two alternatives. 141 00:09:09,160 --> 00:09:13,120 Suppose a big company like yours... You want to pack boAt products. 142 00:09:13,280 --> 00:09:14,280 - [chuckling] - How will you do it? 143 00:09:14,480 --> 00:09:16,480 You must cushion the box. 144 00:09:16,600 --> 00:09:18,600 Otherwise, the product could break during transit. 145 00:09:18,800 --> 00:09:20,640 As of now, 146 00:09:20,720 --> 00:09:23,640 there are only two alternatives to thermocol for cushioning. 147 00:09:23,760 --> 00:09:24,960 One option is moulded pulp. 148 00:09:25,040 --> 00:09:26,920 They are like egg trays. 149 00:09:27,000 --> 00:09:28,000 Yes. That's right. 150 00:09:28,080 --> 00:09:30,680 As it's not moisture-proof, we face challenges in export. 151 00:09:30,760 --> 00:09:33,280 - It stinks. - You are right. 152 00:09:33,400 --> 00:09:36,240 We need more thickness of moulded pulp 153 00:09:36,320 --> 00:09:37,840 and it increases the box size. 154 00:09:37,920 --> 00:09:40,320 We can reduce the box size by up to 15%-20%. 155 00:10:03,080 --> 00:10:04,840 [tense music plays] 156 00:10:05,720 --> 00:10:09,120 Aren't 100 hours equivalent to Rs. 1 crore for a Shark? 157 00:10:09,320 --> 00:10:11,800 - Oh! - Oh, well said! 158 00:10:11,920 --> 00:10:12,960 Not bad, bro! 159 00:10:13,600 --> 00:10:15,720 We raised our first round of Rs. 4 crores 160 00:10:23,160 --> 00:10:25,240 Which would ideally be at Rs. 100 crores valuation. 161 00:10:32,000 --> 00:10:33,880 Let me explain. 162 00:10:47,840 --> 00:10:48,640 - Majorly salaries. - Salaries. 163 00:10:48,720 --> 00:10:49,840 How much do you spend on salaries per month? 164 00:10:49,920 --> 00:10:51,040 Rs. 12-Rs. 14 lakhs. 165 00:11:07,120 --> 00:11:09,680 I don't understand something. Why do you need our time? 166 00:11:09,760 --> 00:11:11,080 What will you achieve? 167 00:11:11,160 --> 00:11:13,120 - I'll tell you... - "What will you get?" 168 00:11:13,200 --> 00:11:14,480 [laughing] 169 00:11:14,560 --> 00:11:15,960 Not in that way! 170 00:11:16,440 --> 00:11:18,280 - I mean our hours... - What's going on? 171 00:11:32,800 --> 00:11:35,760 You mean you want to get hold of our customers. 172 00:11:37,320 --> 00:11:39,640 Plus we want to crack the entire industry. 173 00:11:39,720 --> 00:11:44,000 You have a condition that their company should use your packaging. 174 00:11:44,280 --> 00:11:46,720 - That is... - It is taken for granted. 175 00:11:46,800 --> 00:11:48,200 - [laughing] - That's understandable. 176 00:11:49,960 --> 00:11:52,240 Will you close the deal at 20 hours for 1% equity? 177 00:11:54,880 --> 00:11:56,880 Only if all of you join at 20 hours each. 178 00:11:56,960 --> 00:11:58,680 [tense music plays] 179 00:12:00,320 --> 00:12:02,240 I don't understand what kind of help you need. 180 00:12:02,360 --> 00:12:04,120 There are three things. 181 00:12:29,200 --> 00:12:31,680 What industry consumes the maximum thermocol? 182 00:12:39,160 --> 00:12:41,600 - No, they want to use it. - We have a pilot run with them. 183 00:12:47,840 --> 00:12:50,440 Honestly, I'll use it as an option 184 00:12:50,520 --> 00:12:53,040 but only if the cost is logical. 185 00:12:53,120 --> 00:12:55,240 If it isn't, I won't use it. 186 00:13:18,920 --> 00:13:20,520 - When we match the cost of moulded pulp. - Correct! 187 00:13:20,640 --> 00:13:22,760 - Our EBITDA would be... - 40%. 188 00:13:30,880 --> 00:13:32,680 This is how we collect. 189 00:13:32,800 --> 00:13:36,640 It collects like this and turns into a bale like this one. 190 00:13:36,720 --> 00:13:38,520 Do you want Rs. 2 crores to buy this? 191 00:13:38,600 --> 00:13:41,880 No! We need Rs. 2 crores to buy the mould-filling machine. 192 00:13:41,960 --> 00:13:43,160 Where will you buy it from? 193 00:13:43,240 --> 00:13:46,840 This machine will be developed. It's called Special Purpose Machine. 194 00:13:46,920 --> 00:13:50,480 Being an engineer, my core expertise is in developing such machines. 195 00:13:50,560 --> 00:13:52,800 Um, the design, development and trials are over. 196 00:13:52,920 --> 00:13:54,160 Payment and commissioning remain. 197 00:13:54,280 --> 00:13:57,520 - I'm interested but I have a few questions. - All right, sir. 198 00:14:07,440 --> 00:14:08,680 Absolutely. 199 00:14:08,800 --> 00:14:12,480 Then why do you think that your path 200 00:14:12,560 --> 00:14:16,000 will lead to success and not the other paths? 201 00:14:25,200 --> 00:14:26,400 Very well said. 202 00:14:27,320 --> 00:14:29,240 You gave a general statement. 203 00:14:29,360 --> 00:14:32,000 If you observe how badly they want it, 204 00:14:32,280 --> 00:14:33,800 we will fall behind. 205 00:14:33,880 --> 00:14:35,360 That's how badly they want it. 206 00:14:35,440 --> 00:14:37,280 [dramatic music playing] 207 00:14:37,360 --> 00:14:40,640 I don't have a deep understanding of all your questions 208 00:14:40,720 --> 00:14:42,280 but that's why I'm here. 209 00:14:43,200 --> 00:14:47,120 If you really want to be a biotech R&D material science company, 210 00:14:47,520 --> 00:14:50,000 why are you selling packaging material? 211 00:14:50,120 --> 00:14:54,040 At some point, you could hire distributors for this business. 212 00:14:54,120 --> 00:14:55,360 Why are you getting into this? 213 00:14:55,440 --> 00:14:58,840 We can't get distributors now as it's a new material. 214 00:14:58,920 --> 00:15:00,000 A proof point. 215 00:15:01,800 --> 00:15:04,240 We need to show basic proof 216 00:15:04,320 --> 00:15:06,320 and build a company as big as Rs. 10-Rs. 100 crores. 217 00:15:06,440 --> 00:15:08,240 It's not yet clear in your pitch. 218 00:15:09,280 --> 00:15:10,960 Our conversations 219 00:15:11,040 --> 00:15:14,160 have been about the sales of the product and the machines you'll use. 220 00:15:14,240 --> 00:15:17,080 Anupam, you're absolutely right. I didn't share my entire vision. 221 00:15:39,400 --> 00:15:44,160 Are your investors okay with you giving the Sharks 222 00:15:44,240 --> 00:15:46,520 an advisory equity of 1%? 223 00:15:46,560 --> 00:15:49,600 We explained our needs to them and how to address them. 224 00:15:49,680 --> 00:15:51,240 So they allowed you? 225 00:16:08,040 --> 00:16:10,880 However, you could have also asked for money. 226 00:16:12,600 --> 00:16:15,800 - Yes. - You could've asked for Rs. 2 crores instead of taking a debt. 227 00:16:15,880 --> 00:16:17,720 In the last two seasons, the mode of the deal 228 00:16:17,840 --> 00:16:19,320 was between Rs. 10-Rs. 30 crores. 229 00:16:20,400 --> 00:16:22,120 My last round was at a Rs. 22 crore valuation. 230 00:16:22,200 --> 00:16:25,000 So I felt if I asked the same valuation now, 231 00:16:25,120 --> 00:16:26,520 your time would be wasted. 232 00:16:26,600 --> 00:16:28,280 [clapping] 233 00:16:29,120 --> 00:16:30,280 What a bright guy! 234 00:16:30,400 --> 00:16:32,600 - Amazing! - You are awesome! 235 00:16:32,680 --> 00:16:35,280 Please take it. How will I write hours on it? 236 00:16:35,360 --> 00:16:36,840 [laughing] 237 00:16:38,760 --> 00:16:40,440 My point of view differs. 238 00:16:40,560 --> 00:16:42,080 I don't think it's a big deal. 239 00:16:44,840 --> 00:16:47,000 You are stuck with a valuation of Rs. 100 crores. 240 00:16:47,080 --> 00:16:48,680 Yes, that is problematic. 241 00:16:49,000 --> 00:16:50,080 That is not true. 242 00:16:50,840 --> 00:16:53,880 You could have asked for Rs. 2 crores for approximately 10%. 243 00:16:53,960 --> 00:16:56,520 It would have been less than the previous round. 244 00:16:56,600 --> 00:16:58,000 What's the problem with that? 245 00:17:00,160 --> 00:17:03,120 You said that Rs. 100 crores is our target. 246 00:17:03,200 --> 00:17:05,880 You were contemplating how to 247 00:17:05,960 --> 00:17:07,720 - secure a deal with a Shark. - No! 248 00:17:07,800 --> 00:17:09,800 The deal is aired, 249 00:17:09,880 --> 00:17:11,280 and your marketing is taken care of. 250 00:17:13,400 --> 00:17:15,040 Let's be clear. 251 00:17:15,120 --> 00:17:17,200 I am not someone who beats around the bush. 252 00:17:17,640 --> 00:17:18,920 Sure. 253 00:17:19,920 --> 00:17:21,560 That is why you have come to this pitch. 254 00:17:21,640 --> 00:17:25,320 I can give you a counteroffer, Mr. Anupam. 255 00:17:26,880 --> 00:17:28,000 If there's another round, 256 00:17:28,120 --> 00:17:30,440 I'll give you equity at a 20% discount. 257 00:17:30,520 --> 00:17:32,080 Oh! 258 00:17:32,160 --> 00:17:34,120 If you invest Rs. 50 lakhs, 259 00:17:34,200 --> 00:17:35,760 - I will give you Rs. 1 crore. - Done! 260 00:17:35,880 --> 00:17:37,640 - Close it! - Either Rs. 1 crore or 20% discount. 261 00:17:37,720 --> 00:17:38,840 - Done! Confirm deal? - Done! 262 00:17:38,960 --> 00:17:41,600 - Excuse me! - He finalised the deal. 263 00:17:41,680 --> 00:17:43,160 - It is almost done. Let's listen to their offer. - Come on! 264 00:17:43,280 --> 00:17:44,960 - I will be out! - Let us... No! 265 00:17:45,040 --> 00:17:46,080 Listen! 266 00:17:47,280 --> 00:17:50,200 All five of us should invest together and put in 20 hours each 267 00:17:50,520 --> 00:17:52,200 for the same price. 268 00:17:53,200 --> 00:17:54,520 I am not okay with this deal. 269 00:17:54,600 --> 00:17:57,400 Because 20 hours for 0.25%... 270 00:18:00,280 --> 00:18:02,160 There are two options. It will either be a zero or a hero. 271 00:18:02,200 --> 00:18:04,520 - If it is zero... - I thought 20 hours for 5%. 272 00:18:04,600 --> 00:18:07,680 - All of us for 5%. - No! He is saying 0.2%... 273 00:18:07,800 --> 00:18:08,880 0.25%. 274 00:18:10,880 --> 00:18:13,280 There is one more way. Let me try to propose a deal. 275 00:18:14,440 --> 00:18:17,360 All five Sharks 276 00:18:17,680 --> 00:18:19,280 will give you 10 hours in total 277 00:18:19,480 --> 00:18:21,680 in the next three months. 278 00:18:21,760 --> 00:18:22,880 That is 2 hours each. 279 00:18:23,960 --> 00:18:26,560 If all the claims you made today are true, 280 00:18:26,880 --> 00:18:28,600 your debt is raised, 281 00:18:29,080 --> 00:18:30,800 and you are on the right path, 282 00:18:30,880 --> 00:18:33,360 then the remaining 80 hours will also belong to you 283 00:18:48,680 --> 00:18:51,120 Just debt and LOI. 284 00:18:51,200 --> 00:18:52,480 - LOI! - Done! 285 00:18:52,560 --> 00:18:54,440 Your confidence is impressive. 286 00:18:54,680 --> 00:18:56,920 [music rises] 287 00:18:58,480 --> 00:18:59,800 - Deal done? - The deal is done. 288 00:19:08,880 --> 00:19:10,400 Sir, you can come to our factory and check. 289 00:19:10,400 --> 00:19:12,120 - We will! - All of you should come. 290 00:19:12,200 --> 00:19:13,160 It is in Faridabad. 291 00:19:13,240 --> 00:19:14,760 - Congratulations! - Thank you so much. 292 00:19:16,680 --> 00:19:17,760 - Sure? - Sure, sir. 293 00:22:58,640 --> 00:23:00,920 [music rises] 294 00:23:12,640 --> 00:23:15,160 [theme music playing] 295 00:23:22,520 --> 00:23:24,280 Look at Mr. Sharma's son. 296 00:23:24,600 --> 00:23:27,320 He completed MBBS and transformed his life. 297 00:23:28,160 --> 00:23:29,440 Complete engineering 298 00:23:29,560 --> 00:23:31,720 - and then decide what you want to do in life. - True. 299 00:23:31,800 --> 00:23:33,920 I'm certain that at some point in your life, 300 00:23:34,040 --> 00:23:35,840 you've received such career advice 301 00:23:36,120 --> 00:23:39,120 from a relative 302 00:23:39,320 --> 00:23:42,640 or someone connected to your neighbour. 303 00:23:42,760 --> 00:23:43,600 From your teacher as well. 304 00:23:43,840 --> 00:23:44,800 [laughing] 305 00:23:44,880 --> 00:23:47,040 In India, whenever students 306 00:23:47,360 --> 00:23:49,280 are confused about their career, 307 00:23:49,440 --> 00:23:53,120 then the people around them become expert career counsellors. 308 00:23:53,840 --> 00:23:54,840 Sadly, Sharks, 309 00:23:54,960 --> 00:23:57,120 93% of schools in India 310 00:24:35,240 --> 00:24:38,160 iDreamCareer is a platform that provides career counselling 311 00:25:00,440 --> 00:25:03,720 But iDreamCareer has successfully provided 312 00:25:03,920 --> 00:25:06,360 career guidance in government schools, 313 00:25:06,480 --> 00:25:10,720 tribal schools, and numerous private schools in recent years. 314 00:25:10,800 --> 00:25:11,920 We have provided 315 00:25:22,960 --> 00:25:25,000 in the next 10 years, 316 00:25:25,080 --> 00:25:27,040 helping them choose careers 317 00:25:27,160 --> 00:25:29,680 that bring them job satisfaction. 318 00:25:30,040 --> 00:25:32,920 You never know, one of them could become a Shark. 319 00:25:33,000 --> 00:25:36,600 So, Sharks, our ask is Rs. 1.10 crores 320 00:25:43,720 --> 00:25:44,640 Rs. 85 crores. 321 00:25:44,720 --> 00:25:47,080 Welcome to Shark Tank, Ayush and Squadron Leader Praveen. 322 00:25:47,320 --> 00:25:48,200 - Thank you so much. - Thank you. 323 00:25:48,200 --> 00:25:49,760 This problem exists. 324 00:25:51,040 --> 00:25:51,880 Let me explain. 325 00:25:52,000 --> 00:25:53,760 My dad decided 326 00:25:53,840 --> 00:25:56,280 that their child should do CA. 327 00:25:56,480 --> 00:25:58,600 Back then, you didn't know what you wanted in life. 328 00:25:58,600 --> 00:26:00,880 When you take up the course, you realise 329 00:26:00,960 --> 00:26:02,200 that this is not our calling. 330 00:26:02,280 --> 00:26:05,680 I am a CA, but my calling was sales and marketing. 331 00:26:05,760 --> 00:26:06,720 I took that path. 332 00:26:06,800 --> 00:26:08,280 True. And... 333 00:26:08,360 --> 00:26:09,600 This issue is faced primarily 334 00:26:09,680 --> 00:26:11,400 - by students in government schools. - True. 335 00:26:11,480 --> 00:26:13,920 I was pursuing my undergraduate studies in Bengaluru. 336 00:26:13,920 --> 00:26:16,680 A lunch box delivery boy used to come to our house. 337 00:26:16,760 --> 00:26:18,840 He was from Balasore in Odisha. 338 00:26:18,920 --> 00:26:20,040 He was 19 years old. 339 00:26:20,200 --> 00:26:21,480 When I was headed to college, 340 00:26:21,560 --> 00:26:24,160 I noticed that he was trying to read an English newspaper. 341 00:26:25,080 --> 00:26:27,840 I knew that he couldn't read English. 342 00:26:28,080 --> 00:26:29,560 When I probed him, 343 00:26:29,680 --> 00:26:32,840 I realised that he dropped out of 9th grade. 344 00:26:32,960 --> 00:26:34,920 I asked him what he wanted to do in life. 345 00:26:35,000 --> 00:26:36,840 He mentioned that he wants to do something in life, 346 00:26:37,040 --> 00:26:38,200 but he doesn't know what. 347 00:26:38,320 --> 00:26:40,680 I was hoping to find a platform or career counsellors 348 00:26:40,800 --> 00:26:42,040 on my way back from college 349 00:26:42,120 --> 00:26:43,920 who could guide him about his future. 350 00:26:44,000 --> 00:26:45,800 But that is when I realised 351 00:26:45,920 --> 00:26:47,720 that there is no such platform. 352 00:26:47,840 --> 00:26:49,880 This happened in 2006 -2007. 353 00:26:49,960 --> 00:26:52,280 I conducted research and discovered 354 00:26:52,360 --> 00:26:54,240 that he is eligible to enrol in NIOS. 355 00:26:59,640 --> 00:27:00,640 Good! 356 00:27:00,760 --> 00:27:02,800 I enrolled him in NIOS. 357 00:27:02,880 --> 00:27:04,520 And I left after completing graduation. 358 00:27:05,440 --> 00:27:07,680 I met him again in 2015 in Bengaluru. 359 00:27:07,760 --> 00:27:09,160 - And! - What is his name? 360 00:27:09,320 --> 00:27:10,720 - Kamalkant Jaina. - Okay. 361 00:27:10,800 --> 00:27:13,120 And I realised that he works for a multinational company 362 00:27:13,200 --> 00:27:14,680 - and earns Rs. 60,000. - Lovely! 363 00:27:14,760 --> 00:27:16,120 - Rs. 60,000? - Yes! 364 00:27:16,200 --> 00:27:18,600 - Wow! - His younger brother was working as a sales executive 365 00:27:18,720 --> 00:27:21,960 in a Maruti Suzuki showroom. It wasn't just him 366 00:27:22,040 --> 00:27:25,400 who got guidance. But he guided others too. 367 00:27:26,160 --> 00:27:29,520 I wanted to open an organisation that combines profit and purpose. 368 00:27:29,600 --> 00:27:31,880 I made it a mission in my life 369 00:27:31,960 --> 00:27:33,760 to solve this problem on a large scale 370 00:27:33,840 --> 00:27:35,600 and help as many students as possible. 371 00:27:36,240 --> 00:27:38,560 Enrolling Mr. Jaina in a school transformed his life. 372 00:27:39,000 --> 00:27:40,520 Your recommendation focuses mainly 373 00:27:40,600 --> 00:27:42,880 on 12th grade to university. 374 00:27:43,000 --> 00:27:45,480 Your focus is on which student? 375 00:27:45,480 --> 00:27:48,880 We tried to develop a hybrid model of social enterprise 376 00:28:13,760 --> 00:28:16,600 Among them, could you specify how many are enrolled in the B2B program 377 00:28:16,680 --> 00:28:18,240 and how many are in the B2C program? 378 00:28:36,600 --> 00:28:39,840 or was finding open school the biggest challenge? 379 00:28:39,920 --> 00:28:43,520 Both! Take Ruchi, for example. You can see her photo here. 380 00:28:43,920 --> 00:28:46,440 Her parents follow a conventional route. 381 00:28:46,520 --> 00:28:48,680 We started guiding her in the 9th grade 382 00:28:48,760 --> 00:28:51,280 and helped her choose a career. She is currently pursuing B.Com. 383 00:28:51,400 --> 00:28:53,240 We helped her get a scholarship of Rs. 15 lakhs. 384 00:28:59,600 --> 00:29:02,000 I am looking at Ritesh, who comes from Odisha. 385 00:29:02,080 --> 00:29:05,760 He has enrolled in Science PCM in 11th grade. 386 00:29:05,880 --> 00:29:06,960 How do you know? 387 00:29:07,080 --> 00:29:09,200 Did you really choose Science PCM? 388 00:29:09,280 --> 00:29:11,000 Yes! Were you guessing? 389 00:29:11,240 --> 00:29:13,720 Odisha is close because of Kamalkant. 390 00:29:13,800 --> 00:29:14,880 So, I always prefer that. 391 00:29:15,000 --> 00:29:16,360 However, you were uncertain about 392 00:29:16,440 --> 00:29:19,160 what other career paths you could pursue with Science PCM. 393 00:29:19,240 --> 00:29:20,760 He looked up information on Google 394 00:29:20,840 --> 00:29:23,840 and came across our article, prompting him to visit our website. 395 00:29:23,920 --> 00:29:25,600 He opts for a free sign-up. 396 00:29:25,680 --> 00:29:26,760 And then 397 00:29:26,880 --> 00:29:28,680 we asked all the questions to him as part of the onboarding process. 398 00:29:28,760 --> 00:29:30,800 Which class he is in? What stream he is in? 399 00:29:30,880 --> 00:29:32,760 Which subjects does he like? 400 00:29:32,840 --> 00:29:36,040 And it will give them a personalised career dashboard. 401 00:29:37,240 --> 00:29:40,240 Ritesh was interested in design and creativity. 402 00:29:40,320 --> 00:29:41,720 So, he looked up design. 403 00:29:41,800 --> 00:29:45,880 And he finds out that there are so many career options. 404 00:29:46,160 --> 00:29:48,680 He clicks on 'product designer' 405 00:29:48,760 --> 00:29:51,720 to learn more about his career aspect. 406 00:29:51,800 --> 00:29:53,160 After that, 407 00:29:53,280 --> 00:29:54,640 Ritesh wanted to know 408 00:29:54,720 --> 00:29:57,080 which colleges teach design. 409 00:30:08,480 --> 00:30:09,920 where he sees that 410 00:30:10,000 --> 00:30:11,600 there is a program for Rs. 4,000 411 00:30:18,120 --> 00:30:20,040 He enrols in this program 412 00:30:20,160 --> 00:30:22,000 and then he immediately 413 00:30:22,080 --> 00:30:24,640 starts taking the psychometric test. 414 00:30:24,720 --> 00:30:28,080 We assess a child's aptitude, personality and interest 415 00:30:36,720 --> 00:30:38,160 or 'psychometric test' online, 416 00:30:38,240 --> 00:30:40,240 you will find a wide range of free tests. 417 00:30:40,320 --> 00:30:41,960 There are numerous such tests. 418 00:30:43,080 --> 00:30:44,640 At this age, children 419 00:30:44,760 --> 00:30:47,760 are self-motivated. They carry out research on their own. 420 00:30:48,040 --> 00:30:49,640 How do they come to you? 421 00:30:49,720 --> 00:30:51,520 I've never heard of iDreamCareer. 422 00:30:51,600 --> 00:30:52,760 I am only talking about D2C. 423 00:30:52,840 --> 00:30:55,200 You will do B2B by partnering with schools. 424 00:30:55,320 --> 00:30:57,920 In B2C, 425 00:30:58,040 --> 00:31:01,960 90% of traffic, that is around 5 lakh children visit our website. 426 00:31:02,040 --> 00:31:03,120 - Per month? - Per month. 427 00:31:18,240 --> 00:31:19,640 Complete the funnel. 428 00:31:19,720 --> 00:31:22,280 You said your visitors are around 5 lakhs per month. 429 00:31:22,360 --> 00:31:24,960 - Yes. - Out of them, how many purchase 430 00:31:25,080 --> 00:31:26,200 the course worth Rs. 299? 431 00:31:26,920 --> 00:31:29,640 And apart from that course, how many of them 432 00:31:30,040 --> 00:31:33,000 purchase the Rs. 4000 course? What is the conversion of that? 433 00:32:25,760 --> 00:32:28,400 that worked in this field. There was an economic bubble. 434 00:32:28,480 --> 00:32:30,560 EdTechs came, but most of them couldn't survive. 435 00:32:36,880 --> 00:32:39,000 'turned into a crematorium.' Right? 436 00:32:39,080 --> 00:32:42,320 Back then, we secured funding with an impact venture capital firm. 437 00:32:42,400 --> 00:32:43,960 Tell us about funding. 438 00:32:44,040 --> 00:32:47,040 - We have raised around 5 rounds of funding. - Wow! 439 00:32:47,160 --> 00:32:49,440 We've raised Rs. 13.5 crores. 440 00:33:23,200 --> 00:33:24,000 with just B2B? 441 00:33:24,080 --> 00:33:25,880 B2B has always been profitable. 442 00:33:31,000 --> 00:33:32,120 This year, 443 00:33:32,240 --> 00:33:36,080 our B2B sales have grown from Rs. 93 lakhs to Rs. 2.5 crores. 444 00:33:36,240 --> 00:33:38,320 This year, we are closing at Rs. 7 crores. 445 00:33:38,400 --> 00:33:40,280 What's causing your focus to shift towards B2C? 446 00:33:41,320 --> 00:33:43,280 Are investors pushing for B2C growth? 447 00:33:43,360 --> 00:33:44,280 No! Not at all. 448 00:33:44,360 --> 00:33:45,960 Pressure is being put on by investors. 449 00:33:46,040 --> 00:33:49,160 I believe 60% to 70% has been diluted. 450 00:33:56,640 --> 00:33:58,640 is more of CSR than EdTech. 451 00:33:59,720 --> 00:34:01,280 You already have an impact investor. 452 00:34:01,360 --> 00:34:04,040 There are many organisations you must have heard about. 453 00:34:04,160 --> 00:34:05,280 I am also associated with them. 454 00:34:05,360 --> 00:34:07,320 Have you heard about Udayan Care? 455 00:34:07,400 --> 00:34:08,520 We work with them. 456 00:34:08,600 --> 00:34:10,920 The girls there with Shalini fellowship 457 00:34:11,200 --> 00:34:14,120 are not only provided educational support 458 00:34:14,200 --> 00:34:17,440 but also have a mentor assigned to them for many years. 459 00:34:17,520 --> 00:34:20,120 Such career guidance 460 00:34:20,240 --> 00:34:21,880 - is invaluable. - True. 461 00:34:21,960 --> 00:34:24,240 One session is just not enough. 462 00:34:24,320 --> 00:34:27,480 And I think that's the correct approach. 463 00:34:27,560 --> 00:34:29,640 Therefore, I am out. Good luck! 464 00:34:30,680 --> 00:34:31,880 I will give you an offer. 465 00:34:32,800 --> 00:34:35,120 I believe that is a problem we face. 466 00:34:35,240 --> 00:34:36,960 Young adults who visit our office... 467 00:34:37,040 --> 00:34:39,040 10% user base is professionals. 468 00:34:39,120 --> 00:34:40,280 - Exactly! - But we have to refuse them. 469 00:34:40,360 --> 00:34:41,840 Why are you refusing them? 470 00:34:41,920 --> 00:34:44,760 We haven't delivered a clear program or outcome on that. 471 00:34:44,880 --> 00:34:46,240 You should! I am letting you know. 472 00:34:46,360 --> 00:34:48,160 Those who join us as interns, 473 00:34:48,240 --> 00:34:49,800 we put them in every division. 474 00:34:49,920 --> 00:34:52,800 To decide what they like and get exposure. 475 00:34:52,880 --> 00:34:54,840 And then, you can go wherever you want. 476 00:34:54,920 --> 00:34:58,720 After having experience for around 5 years, 477 00:34:58,920 --> 00:35:00,120 people try to change their careers. 478 00:35:00,200 --> 00:35:02,760 So, you have a big opportunity. 479 00:35:02,840 --> 00:35:04,440 You can provide career guidance 480 00:35:04,560 --> 00:35:06,600 to young professionals up to the age of 30. 481 00:35:06,680 --> 00:35:08,280 I will give you a simple offer. 482 00:35:08,360 --> 00:35:10,600 Rs. 15 lakhs in equity. 483 00:35:10,680 --> 00:35:12,200 Because I am interested in joining you. 484 00:35:12,960 --> 00:35:14,480 At Rs. 50 crores valuation. 485 00:35:16,520 --> 00:35:18,520 And Rs. 95 lakhs debt 486 00:35:18,640 --> 00:35:21,080 at 10% interest rate for 2 years. 487 00:35:28,440 --> 00:35:29,720 That was the problem, 488 00:35:29,800 --> 00:35:32,240 but you didn't go deep into the solution. 489 00:35:32,320 --> 00:35:33,640 You are distracted now. 490 00:35:34,840 --> 00:35:38,120 A company called Haqdarshak came on the show. 491 00:35:38,200 --> 00:35:40,000 They had a very similar purpose. 492 00:35:40,080 --> 00:35:41,400 The problem was big, 493 00:35:41,520 --> 00:35:43,840 but they figured out a solution to the problem 494 00:35:43,920 --> 00:35:47,720 with the same TG and made it sustainable. 495 00:35:47,840 --> 00:35:48,720 They're in business. 496 00:35:48,840 --> 00:35:51,640 I do think there is a solution to this problem. 497 00:35:51,840 --> 00:35:57,080 The solution is not going to be with this 40 and 60%. 498 00:35:57,160 --> 00:35:58,960 You need to make it sustainable right where it is. 499 00:35:59,080 --> 00:36:03,520 I think you need to decide what you want from life. 500 00:36:04,400 --> 00:36:07,240 Otherwise, a few years later, you may repent 501 00:36:07,320 --> 00:36:09,400 that you're not doing what you set out to do. 502 00:36:09,480 --> 00:36:10,680 So, I am out for now. 503 00:36:11,400 --> 00:36:13,880 Just as you are providing career counselling to the world, 504 00:36:14,000 --> 00:36:15,440 you are also in need of counselling. 505 00:36:16,640 --> 00:36:19,440 Heavy counselling, which may last a few hours, 506 00:36:19,440 --> 00:36:21,080 but at the end of it you should decide, 507 00:36:21,160 --> 00:36:22,000 this or that. 508 00:36:30,120 --> 00:36:32,000 I 100% agree with Peyush. 509 00:36:32,960 --> 00:36:34,920 Right now, I think 510 00:36:35,120 --> 00:36:37,200 your future is quite confusing. 511 00:36:37,280 --> 00:36:38,760 You mentioned 512 00:36:38,840 --> 00:36:41,600 you raised funds in a bad market as EdTech. 513 00:36:41,680 --> 00:36:43,840 You said you're not playing that game but you are. 514 00:36:43,920 --> 00:36:46,960 You went from a valuation of Rs. 36 crores to 86 crores. 515 00:36:47,040 --> 00:36:49,880 I think I am out right now. Best of luck. 516 00:36:51,360 --> 00:36:52,960 If you invest in an education business, 517 00:36:53,040 --> 00:36:55,120 purpose and profit can go together. 518 00:36:56,200 --> 00:36:57,400 Let me clarify 519 00:36:57,520 --> 00:37:00,920 that you mentioned your B2C business is loss-making. 520 00:37:01,000 --> 00:37:03,080 Your B2B business has been profitable since day one 521 00:37:03,080 --> 00:37:04,440 and will continue to be profitable. 522 00:37:04,560 --> 00:37:06,720 I really liked that business of yours. 523 00:37:08,120 --> 00:37:10,880 I have implicit faith in India's future. 524 00:37:11,080 --> 00:37:13,600 The way the nation is progressing, 525 00:37:13,680 --> 00:37:16,720 counselling will become mandatory in schools very soon 526 00:37:16,840 --> 00:37:18,000 in my opinion. 527 00:37:18,440 --> 00:37:21,320 For that reason, I wish to make you an offer. 528 00:37:22,680 --> 00:37:25,640 I will invest the complete Rs. 1.1 crores. 529 00:37:25,720 --> 00:37:28,080 This will be split into two. 530 00:37:28,320 --> 00:37:32,240 Rs. 60 lakhs in equity at a valuation of Rs. 60 crores. 531 00:37:32,440 --> 00:37:34,720 I will take 1% equity. 532 00:37:35,000 --> 00:37:36,160 Along with that, 533 00:37:36,440 --> 00:37:39,360 I will give you Rs. 50 lakhs in debt 534 00:38:03,280 --> 00:38:05,160 You shouldn't have, but fine. 535 00:38:05,320 --> 00:38:07,120 I could add Rs. 15 lakhs. 536 00:38:07,200 --> 00:38:08,440 - How much are you giving? - Let's do it together. 537 00:38:08,520 --> 00:38:10,680 Add my 15 lakhs and please revise the offer. 538 00:38:12,680 --> 00:38:13,920 - In equity? - Yes. 539 00:38:14,000 --> 00:38:14,840 All right. 540 00:38:22,760 --> 00:38:25,840 Aman will invest Rs. 15 lakhs and I'll invest Rs. 45 lakhs. 541 00:38:25,920 --> 00:38:28,880 We will together get 1% ownership. 542 00:38:29,440 --> 00:38:32,000 I will give you Rs. 50 lakhs in debt 543 00:38:40,840 --> 00:38:43,400 If you look at young professionals, 544 00:38:43,480 --> 00:38:47,200 I notice a lot of stress in them during their interviews. 545 00:38:47,280 --> 00:38:49,040 I prefer you work on that too. 546 00:38:50,280 --> 00:38:51,200 Can I say something? 547 00:38:51,320 --> 00:38:54,760 When you don't have a point of view, everybody around you has a view. 548 00:38:57,200 --> 00:38:58,120 So, form a view soon. 549 00:38:58,200 --> 00:38:59,520 They're saying the opposite. 550 00:38:59,600 --> 00:39:00,720 [laughs] 551 00:39:00,840 --> 00:39:02,080 Unbelievable! 552 00:39:02,200 --> 00:39:05,040 - Have you heard... Do you eat grapes - Yes. 553 00:39:05,160 --> 00:39:08,360 Have you heard of sour grapes? Yes? 554 00:39:08,440 --> 00:39:10,680 - What's your decision? - Good offer. Decide quickly. 555 00:39:11,600 --> 00:39:13,000 [suspenseful music playing] 556 00:39:15,560 --> 00:39:17,400 We accept your offer, Aman and Ritesh. 557 00:39:19,200 --> 00:39:20,320 [joyous music playing] 558 00:39:26,560 --> 00:39:27,600 [camera shutter clicking] 559 00:39:36,480 --> 00:39:37,760 [music concludes] 560 00:52:50,880 --> 00:52:53,760 Hello and welcome to your favourite and my favourite Ask The Shark. 561 00:52:53,920 --> 00:52:55,080 Joining us today 562 00:52:55,200 --> 00:52:58,280 is the CEO and Founder of OYO Rooms, Mr. Ritesh Agarwal. 563 00:52:58,280 --> 00:52:59,120 Welcome, sir. 564 00:52:59,200 --> 00:53:03,000 Today's question is by Anisha Shastri from Neemuch. 565 00:53:03,440 --> 00:53:04,320 'Hi, Ritesh.' 566 00:53:20,840 --> 00:53:22,200 This is what I do daily. 567 00:53:22,640 --> 00:53:25,760 Every morning at 8, today included, 568 00:53:26,120 --> 00:53:28,280 I log in to Twitter, Instagram and other sites 569 00:53:28,400 --> 00:53:34,080 and go through every single feedback received for OYO the day before 570 00:53:34,160 --> 00:53:35,480 whether it is from India or abroad. 571 00:53:35,600 --> 00:53:36,960 - You do! - I do it personally every day. 572 00:53:37,040 --> 00:53:38,600 - Isn't there a team? - There sure is. 573 00:53:38,680 --> 00:53:39,600 I see. 574 00:53:39,600 --> 00:53:41,640 I parallelly do it with the team. 575 00:53:41,720 --> 00:53:43,040 I feel that 576 00:53:43,120 --> 00:53:46,360 when the feedback is collated, it comes in buckets. 577 00:54:21,920 --> 00:54:23,760 - Thank you so much for joining us. - Thank you.