1 00:00:13,760 --> 00:00:15,760 [upbeat music playing] 2 00:00:32,480 --> 00:00:35,000 [theme music playing] 3 00:00:52,600 --> 00:00:56,160 Sharks, what's the top survival tip for today? 4 00:00:56,400 --> 00:00:59,320 Change! People who adapt to change are the ones who endure. 5 00:00:59,680 --> 00:01:00,800 We have all witnessed it. 6 00:01:00,880 --> 00:01:03,720 We evolved in the digital age. 7 00:01:03,800 --> 00:01:05,640 We have seen UPI, e-commerce, 8 00:01:05,720 --> 00:01:07,640 and online banking, evolve. 9 00:01:07,720 --> 00:01:10,920 But there is one community that didn't keep up with the digital era. 10 00:01:11,640 --> 00:01:15,640 We are talking about more than 2 crores shopkeepers. 11 00:01:15,720 --> 00:01:18,320 It is 'kirana stores', stationery, 12 00:01:18,400 --> 00:01:20,920 electronics and many such shops 13 00:01:35,080 --> 00:01:36,920 Why? There are two reasons. 14 00:01:37,000 --> 00:01:38,360 One reason is, 15 00:01:38,440 --> 00:01:42,320 that these sellers are unable to sell on online platforms 16 00:02:05,240 --> 00:02:07,040 With Kiko Live, 17 00:02:32,640 --> 00:02:34,880 won't be charged any commission. 18 00:02:59,880 --> 00:03:02,720 Our ask is Rs. 1 crore for 1% equity. 19 00:03:17,360 --> 00:03:20,120 When did you come up with this idea and why? 20 00:03:20,680 --> 00:03:23,720 When there was a lockdown in 2020, 21 00:03:23,840 --> 00:03:27,440 small shops saw a decline in their business. 22 00:03:27,520 --> 00:03:28,760 Their shops were closed. 23 00:03:28,920 --> 00:03:31,760 People's habits changed and they relied on online shopping. 24 00:03:31,880 --> 00:03:35,800 Those who never purchased anything online were compelled to do so. 25 00:03:36,720 --> 00:03:40,440 That's when we thought of finding a solution to this pressing problem. 26 00:03:40,640 --> 00:03:43,120 It's crucial for small shops to establish an online presence 27 00:03:43,200 --> 00:03:44,880 in order to secure 28 00:03:45,000 --> 00:03:49,960 their existing customers and expand their business in the long run. 29 00:04:00,320 --> 00:04:03,560 What makes you say that you thought about this during COVID? 30 00:04:04,760 --> 00:04:07,480 They had been cataloguing the shopkeepers since the beginning, 31 00:04:07,560 --> 00:04:08,640 but they were failing at it. 32 00:04:08,720 --> 00:04:12,520 Informing small shop owners that their SKUs are not online 33 00:04:12,600 --> 00:04:14,400 and urging them to list everything immediately 34 00:04:14,480 --> 00:04:15,840 was causing a problem. 35 00:04:16,040 --> 00:04:19,480 We started a live shopping solution. 36 00:04:19,560 --> 00:04:21,120 In fact, we also applied for a patent 37 00:04:21,240 --> 00:04:23,200 and we were recently awarded the patent. 38 00:04:31,600 --> 00:04:35,120 The buyer is notified and the rider goes to the seller 39 00:04:35,240 --> 00:04:36,800 to pick up the order and deliver it. 40 00:04:36,920 --> 00:04:40,040 Home delivery accounts for over 10% of the total business in every shop. 41 00:04:40,120 --> 00:04:43,520 And they run their business via phone or WhatsApp. 42 00:04:43,680 --> 00:04:46,640 All of this is informal because the order 43 00:04:46,880 --> 00:04:49,680 is written on a piece of paper or sent through a message. 44 00:04:49,760 --> 00:04:50,920 There is no record of it. 45 00:04:51,000 --> 00:04:53,520 He obtains an MIS in one place 46 00:04:53,600 --> 00:04:54,760 regarding the orders he is receiving. 47 00:04:54,840 --> 00:04:56,240 And instead of 48 00:04:56,320 --> 00:04:58,600 reaching out to the seller in different ways, 49 00:04:58,760 --> 00:04:59,600 the customer... 50 00:04:59,720 --> 00:05:02,280 All of this is being done on other platforms. 51 00:05:02,360 --> 00:05:04,360 The only thing they are not doing is live video 52 00:05:04,440 --> 00:05:05,640 and that is because 53 00:05:05,760 --> 00:05:08,400 many people have tried video commerce in India 54 00:05:08,520 --> 00:05:10,520 - to replicate China. - Right! 55 00:05:10,600 --> 00:05:12,120 But it hasn't worked in India yet. 56 00:05:12,200 --> 00:05:14,200 Because consumers don't want to be on a video call. 57 00:05:14,280 --> 00:05:16,400 Correct! The issue with this was that 58 00:05:16,480 --> 00:05:18,520 'one to many' kind of live commerce didn't work. 59 00:05:18,640 --> 00:05:21,000 However, our solution was slightly unique. 60 00:05:21,080 --> 00:05:25,000 The shopkeeper informs his existing customers to contact them 61 00:05:25,160 --> 00:05:27,720 through this solution instead of phone or WhatsApp. 62 00:05:27,800 --> 00:05:29,360 But this solution 63 00:05:30,400 --> 00:05:31,840 is looking for a problem. 64 00:05:31,960 --> 00:05:33,960 - I don't see a problem being resolved. - We... 65 00:05:34,040 --> 00:05:36,480 - Hold on! Please clarify something. - Sure. 66 00:05:36,560 --> 00:05:38,480 - Are 'Kirana stores' your client? - Yes. 67 00:05:38,600 --> 00:05:41,000 What do you exactly sell to them? 68 00:05:41,240 --> 00:05:43,920 What are they paying you for? 69 00:05:44,000 --> 00:05:45,040 Shall we see a demo? 70 00:05:45,280 --> 00:05:46,920 - I will show you the demo. - Let's see a demo 71 00:05:47,000 --> 00:05:48,080 - to understand it better. - It will make it easier. 72 00:06:07,560 --> 00:06:10,160 Cataloguing means he can upload the products he has 73 00:06:10,240 --> 00:06:13,440 - for customers to browse through and see what he's selling. - Yes. 74 00:06:13,560 --> 00:06:16,440 This is how the website typically looks like. 75 00:06:16,520 --> 00:06:18,680 On average, how many SKUs can they load? 76 00:06:18,760 --> 00:06:21,160 Our website service went live 77 00:06:21,320 --> 00:06:23,200 two months ago. 78 00:06:23,280 --> 00:06:26,160 Around 50 to 100 fast-moving SKU sellers 79 00:06:26,280 --> 00:06:28,040 are uploading to our platform. 80 00:06:28,120 --> 00:06:31,240 - Generally, there are around 4,000 SKUs. - Yes. 81 00:06:31,320 --> 00:06:33,640 This is a typical checkout process. 82 00:06:33,760 --> 00:06:34,840 By feeding in the address, 83 00:06:35,080 --> 00:06:37,240 the customer can choose COD or online payment 84 00:06:37,320 --> 00:06:38,400 when checking out. 85 00:06:38,520 --> 00:06:39,920 You said it is live. 86 00:06:40,200 --> 00:06:41,480 Will you not show it to us? 87 00:06:41,560 --> 00:06:45,520 One-on-one calling is evolving in this product. 88 00:06:45,640 --> 00:06:47,440 We're encouraging sellers 89 00:06:47,560 --> 00:06:49,440 to keep their catalogues updated 90 00:06:49,520 --> 00:06:52,640 so their products can be seen on ONDC. 91 00:06:52,760 --> 00:06:56,240 Live connectivity is not available on ONDC currently. 92 00:07:19,760 --> 00:07:23,040 There is no need for this business. 93 00:07:23,920 --> 00:07:27,640 So, the bigger picture that is evolving 94 00:07:27,720 --> 00:07:31,560 is that ONDC... These are official figures that 95 00:07:31,640 --> 00:07:33,360 over the next 2-3 years, ONDC 96 00:07:33,440 --> 00:07:36,080 will be worth ¤80 billion. 97 00:07:41,680 --> 00:07:46,000 Yes. This way, they will attract more business. 98 00:07:46,080 --> 00:07:49,280 Having just one listing will take care of both of their tasks. 99 00:07:49,360 --> 00:07:50,720 Their website will be ready 100 00:07:50,840 --> 00:07:53,000 which will help them attract their existing customers. 101 00:07:53,120 --> 00:07:56,240 He will also discover new customers through ONDC. 102 00:07:57,880 --> 00:07:59,240 I am confused. 103 00:07:59,360 --> 00:08:02,360 How do your offerings stand out from those of people 104 00:08:02,440 --> 00:08:04,000 who are bigger than you? 105 00:08:05,320 --> 00:08:08,520 What steps will you take to thrive in a competitive setting? - Correct. 106 00:08:08,920 --> 00:08:11,840 For the start, the traction appears to be quite promising. 107 00:08:11,960 --> 00:08:14,400 All the shops we've been to want to be associated with us. 108 00:08:14,520 --> 00:08:16,480 Of course! Because you are not charging them. 109 00:08:18,120 --> 00:08:20,160 But once ONDC is in action, we've informed them 110 00:08:20,240 --> 00:08:22,240 that we will take a 5% commission. 111 00:08:30,280 --> 00:08:32,120 - can be too taxing. - Yes. 112 00:08:32,200 --> 00:08:34,720 Apart from his usual responsibilities, 113 00:08:34,800 --> 00:08:36,120 he has to do this as well. 114 00:08:36,280 --> 00:08:37,800 A lot of similar companies 115 00:08:37,880 --> 00:08:40,600 - have already approached the shopkeeper. - Yes. 116 00:08:40,680 --> 00:08:41,680 I agree. 117 00:08:41,800 --> 00:08:43,160 Currently, 118 00:08:43,280 --> 00:08:45,040 they seem to have a problem 119 00:08:45,120 --> 00:08:47,840 where they feel hopeless 120 00:08:48,040 --> 00:08:51,120 even if a new company approaches them. 121 00:08:57,800 --> 00:09:02,800 If you can increase their business by around 40% 122 00:09:02,880 --> 00:09:06,000 - only then you will crack it. - Yes. 123 00:09:06,080 --> 00:09:08,080 - You will go viral and it will work. - Yes. 124 00:09:08,160 --> 00:09:10,680 But the issue is no one has 125 00:09:10,760 --> 00:09:13,800 - improved their business by even 5%. - Yes. 126 00:09:14,120 --> 00:09:17,360 Zomato has done the same thing in restaurants. 127 00:09:17,440 --> 00:09:20,320 We chose a vertical and carried out the necessary actions within it. 128 00:09:20,400 --> 00:09:22,640 - Because there is no inventory. - Yes. 129 00:09:22,720 --> 00:09:23,840 If there is no inventory, 130 00:09:23,920 --> 00:09:25,880 - the fulfilment rate is higher. - Yes. 131 00:09:26,040 --> 00:09:29,280 In retail, when you jump into this platform, 132 00:09:29,360 --> 00:09:30,960 your fulfillment rate... 133 00:09:31,080 --> 00:09:33,640 Fulfilment rate means that the customer ordered the product 134 00:09:42,640 --> 00:09:43,560 This is everyone's dream. 135 00:09:43,680 --> 00:09:45,640 I started from here 136 00:09:45,720 --> 00:09:48,280 and gave up and eventually decided to go to restaurants. 137 00:09:48,400 --> 00:09:52,280 - You gave up because of the Fill rate and... - Experience. 138 00:09:52,400 --> 00:09:54,280 I didn't have customer experience. 139 00:09:55,120 --> 00:09:57,680 Zomato's failure rate... 140 00:09:57,760 --> 00:09:59,040 The failure rate is determined 141 00:09:59,120 --> 00:10:01,160 when you don't get the order despite placing it. 142 00:10:02,440 --> 00:10:04,040 That is 0.3%. 143 00:10:04,160 --> 00:10:05,720 On a daily basis, 144 00:10:05,800 --> 00:10:08,560 I lost 0.3% customers. 145 00:10:09,760 --> 00:10:13,120 This means, on a monthly basis, I lost 10% of customers. 146 00:10:15,120 --> 00:10:16,040 That is a lot. 147 00:10:16,160 --> 00:10:19,480 - And your point is, the chances are more here. - It's 30%. 148 00:10:19,600 --> 00:10:22,520 [dramatic music playing] 149 00:10:23,760 --> 00:10:26,000 If our failure rate of 0.3% 150 00:10:26,120 --> 00:10:28,400 becomes 4%, 151 00:10:28,680 --> 00:10:31,000 - then our business will end in a month. - It will end. 152 00:10:31,120 --> 00:10:32,520 Down to zero! 153 00:10:34,040 --> 00:10:36,000 I understand that the Fill rate is a challenge. 154 00:10:36,120 --> 00:10:37,680 It is a challenge for ONDC as well. 155 00:10:37,800 --> 00:10:40,000 But what we are saying is that the Fill rate 156 00:10:40,080 --> 00:10:41,520 which used to be around 75% earlier, 157 00:10:41,600 --> 00:10:44,760 had come to around 85% until last week. 158 00:10:44,840 --> 00:10:46,360 Processes are being developed. 159 00:10:46,440 --> 00:10:48,160 There are early adopters. 160 00:10:48,280 --> 00:10:50,720 Around 20,000-30,000 transactions take place daily. 161 00:10:50,840 --> 00:10:52,600 You can say that it is similar to 162 00:11:01,000 --> 00:11:02,840 UPI only offers digital goods. 163 00:11:04,120 --> 00:11:05,480 - Yes. - It is only digital goods. 164 00:11:05,600 --> 00:11:06,680 There are physical goods involved here. 165 00:11:06,760 --> 00:11:08,760 You have to connect six people 166 00:11:08,840 --> 00:11:10,280 and there is failure at every level. 167 00:11:10,360 --> 00:11:11,840 Who will take accountability? 168 00:11:12,640 --> 00:11:16,920 Customer support processes have already been developed by the ONDC. 169 00:11:17,000 --> 00:11:19,000 ONDC is not taking accountability. 170 00:11:19,080 --> 00:11:20,040 ONDC is back end. 171 00:11:20,120 --> 00:11:22,200 We are following the processes they made. 172 00:11:22,280 --> 00:11:25,400 What will happen if there is no Fill rate? How to build this? 173 00:11:25,520 --> 00:11:26,680 Your pitch is that if 174 00:11:26,760 --> 00:11:29,160 ONDC is successful, your business will thrive. Correct? 175 00:11:29,400 --> 00:11:32,680 It will definitely cause a bump. I agree with that. 176 00:11:33,880 --> 00:11:35,240 What do you both do? 177 00:11:35,360 --> 00:11:37,600 - I am the CTO. - I am COO. 178 00:11:37,720 --> 00:11:39,200 I am the CEO. 179 00:11:39,320 --> 00:11:40,360 How did you meet? 180 00:11:40,520 --> 00:11:41,640 We met on ICQ. 181 00:11:41,720 --> 00:11:43,480 Neeta and I are husband and wife. 182 00:11:44,640 --> 00:11:47,560 - Lovely! After a long time, I heard ICQ. - I know. 183 00:11:47,640 --> 00:11:50,280 Alok and I met each other through a mutual friend. 184 00:11:50,360 --> 00:11:52,080 You've been running this business for how long? 185 00:11:52,200 --> 00:11:53,200 It's been two years now. 186 00:11:53,280 --> 00:11:54,760 How much money have you invested? 187 00:11:54,880 --> 00:11:58,440 - We have raised three rounds. - Oh my God! 188 00:11:58,520 --> 00:12:01,200 When we initiated the business plan level 189 00:12:01,320 --> 00:12:04,000 in early 2021, 190 00:12:35,200 --> 00:12:38,600 I embarked on my first major venture which was a prepaid wallet 191 00:13:00,120 --> 00:13:03,920 through TikTok influencers for a share in revenue. 192 00:13:04,480 --> 00:13:06,360 Unfortunately, that business suffered 193 00:13:06,440 --> 00:13:10,200 during lockdown due to the ban on TikTok. 194 00:13:10,320 --> 00:13:11,680 That's when 195 00:13:11,800 --> 00:13:14,080 we went back to the drawing board to see 196 00:13:14,160 --> 00:13:17,200 what other major problems can we solve. 197 00:13:18,000 --> 00:13:20,040 - I have two questions. - Yes? 198 00:13:20,120 --> 00:13:23,880 - First, you took the funding of Rs. 13.5 crores. - Yes. 199 00:13:23,960 --> 00:13:26,440 How much is remaining in the bank? 200 00:13:26,520 --> 00:13:29,040 As of now, we have Rs. 3 crores in the bank. 201 00:13:36,000 --> 00:13:39,080 and some on marketing, seller acquisition and so on. 202 00:13:39,160 --> 00:13:41,320 Second question. How do you charge 203 00:13:41,400 --> 00:13:44,640 and how much revenue have you generated as of now? 204 00:13:45,120 --> 00:13:48,920 Currently, our last month's revenue was Rs. 3 lakhs. 205 00:14:08,040 --> 00:14:10,680 This revenue comes from services. It's early revenue. 206 00:14:10,760 --> 00:14:14,360 - And we still consider our business as pre-revenue. - Of course. 207 00:14:14,480 --> 00:14:17,320 We're hoping that in 3 to 6 months from now, 208 00:14:17,440 --> 00:14:19,600 this revenue will multiply by at least 10X 209 00:14:19,680 --> 00:14:22,200 Our revenues are such that because we have started, 210 00:14:22,280 --> 00:14:25,320 we also offer delivery services to sellers. 211 00:14:25,440 --> 00:14:26,760 We earn revenue from that as well. 212 00:14:26,920 --> 00:14:29,160 We charge a nominal fee... As you said, 213 00:14:29,280 --> 00:14:32,200 we take a subscription of Rs. 100 from the seller and not Rs. 1,000. 214 00:14:32,280 --> 00:14:34,360 These small revenues have just started. 215 00:14:34,440 --> 00:14:37,160 But this is too early. In the next 3 months, this graph 216 00:14:37,240 --> 00:14:39,120 - will take off. - I have made my decision. 217 00:14:44,680 --> 00:14:47,200 where first, you have a lot of competition. 218 00:14:47,280 --> 00:14:49,240 Others will also do what you have planned. 219 00:14:49,320 --> 00:14:51,520 Second, ONDC's traction and all. 220 00:14:51,600 --> 00:14:54,120 - Too many unknown variables. - Okay. 221 00:14:54,280 --> 00:14:56,800 Rs. 80 crores is not justifiable for me. 222 00:14:56,880 --> 00:15:00,080 - And I can't downvalue you because you have completed 3 rounds. - Yes. 223 00:15:00,160 --> 00:15:02,640 So, that's not respectful to the prior investors. I am out. 224 00:15:03,320 --> 00:15:04,520 Thank you! 225 00:15:04,720 --> 00:15:07,000 In this category, 226 00:15:07,080 --> 00:15:09,400 the biggest moat 227 00:15:09,480 --> 00:15:11,480 that leading companies have is capital. 228 00:15:13,400 --> 00:15:15,240 It's slightly challenging 229 00:15:15,320 --> 00:15:18,080 when a big company is pitted against a small company 230 00:15:18,160 --> 00:15:20,240 when it comes to capital. We are Sharks. 231 00:15:20,320 --> 00:15:21,880 But there is one Blue Whale in India. 232 00:15:21,960 --> 00:15:22,880 And that is Jio. 233 00:15:24,280 --> 00:15:26,800 And it is 234 00:15:26,880 --> 00:15:29,160 one of the priorities in their agenda 235 00:15:29,240 --> 00:15:34,440 - to digitize these 2 crore retailers and bring them online. - Right! 236 00:15:34,560 --> 00:15:36,400 And cataloguing their products. 237 00:15:36,480 --> 00:15:38,440 And they will eventually enter ONDC 238 00:15:38,560 --> 00:15:42,280 - until it reaches around ¤2 billion. - Yes. 239 00:15:42,360 --> 00:15:45,320 - So, to fight this battle... - Yes. 240 00:15:45,440 --> 00:15:46,880 With Rs. 1 crore capital 241 00:15:47,000 --> 00:15:48,040 seems challenging. 242 00:15:48,120 --> 00:15:51,600 Because capital is the biggest moat you have 243 00:15:51,680 --> 00:15:53,440 - in this category. - Rs. 1 crore... Yes. 244 00:15:53,560 --> 00:15:55,360 I am out for now. 245 00:15:55,440 --> 00:15:58,440 - But I really hope you can give them a good fight. - Yes! 246 00:16:00,000 --> 00:16:02,280 I have reservations about the adequacy of the technology. 247 00:16:02,400 --> 00:16:04,160 Workflow automation, SaaS, 248 00:16:04,240 --> 00:16:06,560 and so on will be carried out by you. Anyone can do that. 249 00:16:06,640 --> 00:16:08,160 The only benefit I can see 250 00:16:08,240 --> 00:16:10,920 - is that you are early stage mover on ONDC. - Yes. 251 00:16:11,000 --> 00:16:13,600 A valuation of Rs. 8-10 crores would be justifiable 252 00:16:13,760 --> 00:16:17,280 if the equity ranged from 5%-10%. 253 00:16:24,400 --> 00:16:26,920 Absolutely! It is overpriced. 254 00:16:28,120 --> 00:16:31,160 For me, this is more of an ONDC pitch 255 00:16:31,400 --> 00:16:32,360 than your company's pitch. 256 00:16:33,440 --> 00:16:34,400 I am out. 257 00:16:36,520 --> 00:16:39,960 - Your entrepreneurial skills are truly commendable. - Thanks. 258 00:16:45,960 --> 00:16:48,400 I believe you will pivot and try 259 00:16:48,480 --> 00:16:50,360 to do something or make some changes. 260 00:16:50,440 --> 00:16:54,480 I don't think it's worth investing for a valuation of Rs. 80 crores. 261 00:16:55,280 --> 00:16:56,560 So, I am out. 262 00:16:57,760 --> 00:16:58,880 - Okay. - Okay. 263 00:16:59,080 --> 00:17:01,160 - Alright, guys! All the best. - Thank you, Sharks. 264 00:17:01,240 --> 00:17:02,960 - Thank you, Sharks. - Thank you. 265 00:33:23,080 --> 00:33:24,920 [theme music playing] 266 00:33:35,640 --> 00:33:36,840 What's the problem? 267 00:33:36,960 --> 00:33:38,520 They will appear before us for sure. 268 00:33:41,280 --> 00:33:42,600 - Look! - It's over there. 269 00:33:42,680 --> 00:33:44,960 'Greetings, Sharks! I'm Kyra.' 270 00:33:59,200 --> 00:34:04,640 '- Aman, you followed me till here!' - [Aman chuckling] 271 00:34:04,720 --> 00:34:06,240 'Looking cute, Aman.' 272 00:34:07,600 --> 00:34:09,880 - Ooh! Very quick. '- I'm signing out now.' 273 00:34:09,960 --> 00:34:12,960 'I'd like to invite two cute boys' 274 00:34:13,040 --> 00:34:14,600 'who are my creators.' 275 00:34:15,640 --> 00:34:18,040 [theme music playing] 276 00:34:39,800 --> 00:34:40,920 We believe 277 00:34:41,000 --> 00:34:44,480 that virtual humans are the next step of digital evolution. 278 00:34:44,600 --> 00:34:45,880 In the next few years, 279 00:34:45,960 --> 00:34:48,520 Kyra and other virtual humans like Kyra 280 00:34:48,600 --> 00:34:50,320 will play the roles 281 00:34:50,400 --> 00:34:52,920 of our friends, teachers, assistants and entertainers. 282 00:34:53,120 --> 00:34:55,080 Nowadays, we humans 283 00:34:55,160 --> 00:34:57,680 spend our maximum time in the virtual world. 284 00:34:57,760 --> 00:35:01,520 Don't you think that the virtual and real world have merged? 285 00:35:01,600 --> 00:35:03,520 Kyra belongs to this world. 286 00:35:04,240 --> 00:35:06,240 Kyra is a superstar. 287 00:35:06,360 --> 00:35:09,120 - She has more than 2.5 lakh follower on social media. - Ooh! 288 00:35:12,600 --> 00:35:15,000 She has been in the news all over the world 289 00:35:27,400 --> 00:35:30,720 to make her the world's biggest virtual influencer. 290 00:35:30,880 --> 00:35:33,160 Sharks, we need your help 291 00:35:33,240 --> 00:35:35,400 to bring this virtual world 292 00:35:35,520 --> 00:35:38,720 and Kyra's friends into the real world. 293 00:35:46,560 --> 00:35:48,920 Himanshu and George, welcome to Shark Tank. 294 00:35:49,000 --> 00:35:49,960 - Thank you so much. - Thank you, Aman. 295 00:35:50,040 --> 00:35:51,040 Her name is Kyraonig, right? 296 00:35:51,200 --> 00:35:52,720 - Kyraonig. - Kyraonig. 297 00:35:52,800 --> 00:35:55,200 Correct? boAt has worked with you. 298 00:35:55,280 --> 00:35:56,560 Sir, you started this service with us. 299 00:35:56,640 --> 00:36:00,240 We did the first virtual influencer programme in India. 300 00:36:00,320 --> 00:36:02,840 That's why she called you cute. Did you think you're really cute? 301 00:36:03,680 --> 00:36:04,840 [laughing] 302 00:36:04,960 --> 00:36:05,800 They were paid by you. 303 00:36:05,880 --> 00:36:08,320 Can you edit this? I don't like her. Can you remove her? 304 00:36:09,800 --> 00:36:11,040 Can you make her virtual, please? 305 00:36:14,840 --> 00:36:16,720 Before we discuss it, 306 00:36:16,800 --> 00:36:19,120 please tell us why you started it. 307 00:36:19,200 --> 00:36:21,840 How did you get this idea? How do you two know each other? 308 00:36:21,920 --> 00:36:23,760 I have stayed mostly in Chandigarh. 309 00:36:23,840 --> 00:36:27,200 I pursued engineering at Panjab University in the IT stream. 310 00:36:27,840 --> 00:36:30,840 I joined MICA in 2017. 311 00:36:39,600 --> 00:36:41,920 influencer marketing and social media marketing. 312 00:36:42,160 --> 00:36:44,240 In 2021, we came to know 313 00:36:44,320 --> 00:36:47,160 about a famous virtual influencer in the US, Lil Miquela. 314 00:36:48,000 --> 00:36:50,040 - She has 3 million followers. - That's right. 315 00:36:50,160 --> 00:36:54,000 Similarly, Imma Gram in Japan has 4 lakh followers. 316 00:36:54,080 --> 00:36:56,640 So we wondered why nobody in India was doing it. 317 00:36:56,720 --> 00:36:58,720 India has a great social media power. 318 00:36:58,800 --> 00:37:01,280 India has the highest number of Instagram users. 319 00:37:01,360 --> 00:37:03,800 So we searched for the best designers in India. 320 00:37:03,880 --> 00:37:05,680 We wanted to maintain international quality. 321 00:37:05,760 --> 00:37:08,000 We didn't want to do shoddy work. 322 00:37:17,800 --> 00:37:19,440 So, I consider myself Gujarati. 323 00:37:20,240 --> 00:37:22,240 I've always had a knack for entrepreneurship 324 00:37:22,360 --> 00:37:25,760 and worked in the founding teams for many of the small start-ups. 325 00:37:25,840 --> 00:37:28,760 I always wanted to do something innovative and creative of my own. 326 00:37:28,880 --> 00:37:31,240 I felt that this could be the next big thing. 327 00:37:31,480 --> 00:37:32,800 That is why we started doing this. 328 00:37:32,960 --> 00:37:34,640 What type of company are you? 329 00:37:34,720 --> 00:37:37,280 Are you an intellectual property company 330 00:37:37,400 --> 00:37:41,840 that creates different characters and presence and will monetize it? 331 00:37:41,920 --> 00:37:45,040 Or are you making technology that will make these characters? 332 00:37:45,240 --> 00:37:47,880 We wish to become an intellectual property company. 333 00:37:48,280 --> 00:37:50,920 We've used the most advanced technologies in AI yet 334 00:37:51,000 --> 00:37:52,720 to create Kyra. 335 00:37:54,520 --> 00:37:57,120 Do people assume her to be real and follow her 336 00:37:57,200 --> 00:37:59,040 or do they know she's virtual? 337 00:37:59,120 --> 00:38:00,880 We believe in disclosure. 338 00:38:00,960 --> 00:38:04,520 Nowadays, AI is a really advanced technology, 339 00:38:04,640 --> 00:38:06,200 but also very dangerous. 340 00:38:06,280 --> 00:38:08,880 A lot of ads run that can modulate voice 341 00:38:09,000 --> 00:38:10,640 and impersonate people. 342 00:38:10,720 --> 00:38:14,200 The first thing in our bio is this is a virtual human 343 00:38:14,280 --> 00:38:16,760 so that it is disclosed that this isn't a real person. 344 00:38:16,840 --> 00:38:21,560 - You increase its followers through engaging content. - Yes. 345 00:38:21,640 --> 00:38:25,160 When it reaches a certain limit, you monetize it. 346 00:38:25,240 --> 00:38:26,240 - Yes. - That's your business. 347 00:38:26,320 --> 00:38:27,280 - Yes. - Okay. 348 00:38:27,400 --> 00:38:28,920 Every influencer stands for something. 349 00:38:29,000 --> 00:38:32,040 They have an image, right? 350 00:38:32,160 --> 00:38:34,400 What is Kyra's identity? 351 00:38:34,520 --> 00:38:37,960 At first, we penned about over a hundred character traits 352 00:38:38,080 --> 00:38:39,520 for the person we wanted to create. 353 00:38:39,600 --> 00:38:42,000 Post this exercise, we came to the conclusion 354 00:38:42,080 --> 00:38:45,880 that first, we'll create a fashion, fitness and lifestyle influencer 355 00:38:45,960 --> 00:38:47,800 and that's what Kyra is. 356 00:38:48,000 --> 00:38:49,040 [upbeat music playing] 357 00:38:55,520 --> 00:38:56,920 Honestly, she isn't as realistic 358 00:38:57,000 --> 00:39:01,120 as the international virtual influencers. 359 00:39:03,320 --> 00:39:04,840 What were you expecting? 360 00:39:04,960 --> 00:39:06,680 - A normal influencer? - They don't look animated. 361 00:39:07,000 --> 00:39:09,000 If you look at some of the international influencers, 362 00:39:09,080 --> 00:39:10,920 it looks like a real person. 363 00:39:11,000 --> 00:39:13,040 It looks like everything is three-dimensional. 364 00:39:13,120 --> 00:39:15,120 Let me explain Lil Miquela's technology. 365 00:39:15,240 --> 00:39:16,520 They use a real person. 366 00:39:16,600 --> 00:39:18,720 The video is also real, they just swap the face. 367 00:39:28,680 --> 00:39:30,080 have been around for years. 368 00:39:30,160 --> 00:39:32,200 Like Spider-Man and Batman. 369 00:39:32,360 --> 00:39:34,000 That's an insight for us. 370 00:39:34,080 --> 00:39:37,080 If people can connect with a completely fictional character, 371 00:39:37,200 --> 00:39:39,600 we could make them like influencers too. 372 00:39:39,800 --> 00:39:40,840 That was why we made Kyra. 373 00:39:40,920 --> 00:39:43,080 I agree with your point. It is currently animated 374 00:39:43,160 --> 00:39:44,720 as the technology is still fairly new. 375 00:39:44,840 --> 00:39:46,600 The technology is globally accessible. 376 00:39:46,720 --> 00:39:49,400 Why can't you make it more realistic then? 377 00:39:50,680 --> 00:39:52,320 We know there's a scope for improvement. 378 00:39:52,400 --> 00:39:54,560 Maybe, we're 70 to 80% there. 379 00:39:54,680 --> 00:39:59,120 Will you ever be able to augment Kyra with reality? - Yes. 380 00:39:59,240 --> 00:40:03,880 Let's say a restaurant wants to come to you for an ad. 381 00:40:04,040 --> 00:40:06,280 Can you make Kyra sit inside a restaurant, 382 00:40:06,360 --> 00:40:08,360 have food and say, "Okay, this food is awesome."? 383 00:40:08,440 --> 00:40:09,320 Definitely, sir. 384 00:40:09,400 --> 00:40:12,600 We could show you an ad for Amazon Prime. 385 00:40:12,720 --> 00:40:16,720 During the live show 'The Peripheral' on Amazon, 386 00:40:16,880 --> 00:40:19,080 they had chosen Kyra for its promotion. 387 00:40:19,200 --> 00:40:21,880 We've placed Kyra in the live show shots. 388 00:40:23,800 --> 00:40:26,600 'Today, I am going to check out The Peripheral.' 389 00:40:26,760 --> 00:40:27,640 'What is it?' 390 00:40:27,720 --> 00:40:29,160 'Cutting edge VR for you.' 391 00:40:29,440 --> 00:40:30,560 'Maybe it's like the peripheral.' 392 00:40:30,640 --> 00:40:31,880 'Harness in that body isn't...' 393 00:40:32,080 --> 00:40:33,000 This is better. 394 00:40:33,120 --> 00:40:35,440 She's placed inside a live show setting. 395 00:40:40,400 --> 00:40:41,280 A very short ad, 396 00:40:41,360 --> 00:40:43,200 but to answer your question, yes, it's possible. 397 00:40:43,680 --> 00:40:45,160 Kyra is a digital asset 398 00:40:57,200 --> 00:40:58,520 keeping the story intact, 399 00:40:58,600 --> 00:41:01,320 keeping all the conditions that this is how it should be used. 400 00:41:14,160 --> 00:41:15,520 We wouldn't do it time and again. 401 00:41:15,640 --> 00:41:17,560 Wouldn't its novelty fade gradually? 402 00:41:17,720 --> 00:41:20,160 You're only looking at Kyra from this lens 403 00:41:20,240 --> 00:41:21,960 which is why you feel the novelty will fade. 404 00:41:22,040 --> 00:41:24,240 We will continue to make virtual IPs. 405 00:41:24,320 --> 00:41:27,360 We're going to create more IPs in different content niches. 406 00:41:27,480 --> 00:41:28,960 For example, 407 00:41:29,040 --> 00:41:31,280 what about a virtual Sima Aunty for Shaadi.com? 408 00:41:32,520 --> 00:41:36,760 Will you make something else after Kyra? Will you have a library? 409 00:41:36,760 --> 00:41:39,920 We want to make a connected universe of virtual influencers. 410 00:41:40,040 --> 00:41:42,920 After Kyra, we made Sravya, who is Kyra's manager. 411 00:41:43,000 --> 00:41:44,520 She's a virtual influencer on LinkedIn. 412 00:41:52,720 --> 00:41:56,960 where a Brand Manager can discuss and brainstorm with Sravya 413 00:41:57,040 --> 00:41:59,360 - about what ideas Kyra can work on. - Crazy. 414 00:41:59,600 --> 00:42:00,680 Using LLM. 415 00:42:08,280 --> 00:42:09,680 I don't see the persona! 416 00:42:11,520 --> 00:42:14,880 I think you're selling her as the first virtual influencer. 417 00:42:15,000 --> 00:42:17,520 You're not... The persona is not coming through. 418 00:42:18,440 --> 00:42:20,360 I believe the 2.5 to 3 lakh followers 419 00:42:20,440 --> 00:42:23,240 are following her only out of inquisitiveness and intrigue, 420 00:42:23,360 --> 00:42:28,480 not because they love her persona or the character. 421 00:42:28,680 --> 00:42:31,720 It seems to me like you're working on discreet pieces. 422 00:42:31,800 --> 00:42:33,960 The tasteful storytelling part of it 423 00:42:34,040 --> 00:42:36,360 - is the real thing that you need to create. - Yes. 424 00:42:36,440 --> 00:42:40,400 You need to make something like the Marvel Comic Universe 425 00:42:40,480 --> 00:42:41,560 with a network of influencers. 426 00:42:41,640 --> 00:42:42,800 There has to be a story going on. 427 00:42:48,440 --> 00:42:50,400 It was a science fiction novel called Tulsi. 428 00:42:50,800 --> 00:42:53,280 Up until my MBA college, I used to write books. 429 00:42:53,360 --> 00:42:56,720 I've written poetry and fiction. George is a musician. 430 00:42:56,880 --> 00:42:58,720 We have a creative inclination. 431 00:42:58,800 --> 00:43:00,360 Due to limited resources... 432 00:43:00,440 --> 00:43:02,240 We want to make Kyra sustainable. 433 00:43:02,400 --> 00:43:04,120 So, our branded content is higher, 434 00:43:04,200 --> 00:43:05,880 - but... - I don't get this. No! 435 00:43:05,960 --> 00:43:08,080 If this is your background, 436 00:43:08,280 --> 00:43:10,920 you should have done storytelling since day one. 437 00:43:19,120 --> 00:43:21,240 It has been one to two years, right? - Yes. 438 00:43:21,320 --> 00:43:22,960 You still have not started storytelling. 439 00:43:23,040 --> 00:43:25,120 When do you plan on starting the story? 440 00:43:26,080 --> 00:43:27,560 What we want to do is 441 00:43:27,640 --> 00:43:30,840 create Kyra's life story with branded posts. 442 00:43:30,960 --> 00:43:33,480 Kyra has a backstory which we know. 443 00:43:33,560 --> 00:43:36,080 Kyra belongs to a particular metaverse world. 444 00:43:36,200 --> 00:43:38,920 Her memories got wiped out when she came here. 445 00:43:39,000 --> 00:43:41,320 We wish to build all of that through a storyline. 446 00:43:41,400 --> 00:43:43,520 All of this, because it is CGI production, 447 00:43:43,600 --> 00:43:45,520 it requires money to create. 448 00:43:46,640 --> 00:43:48,320 How much did boAt pay you? 449 00:43:48,400 --> 00:43:50,320 We charged boAt Rs. 16.5 lakhs. 450 00:43:50,400 --> 00:43:51,640 What was its cost? 451 00:43:51,800 --> 00:43:54,000 - Rs. 10 lakh for that particular video. - Yes. 452 00:43:54,120 --> 00:43:56,640 Is your content production outsourced? 453 00:44:02,400 --> 00:44:04,600 and learn the technology and make it yourself? 454 00:44:05,840 --> 00:44:08,680 Had I not known tech, Zomato would not have existed. 455 00:44:08,800 --> 00:44:09,720 That is... 456 00:44:10,800 --> 00:44:12,560 May not be true but... I don't know. 457 00:44:12,680 --> 00:44:14,200 - It wasn't possible. - [Sharks laugh] 458 00:44:14,400 --> 00:44:15,840 He almost said it, but didn't. 459 00:44:15,920 --> 00:44:17,000 It wouldn't have been made. 460 00:44:17,120 --> 00:44:20,320 Sir, we have a good understanding of how this model is made. 461 00:44:20,400 --> 00:44:22,680 To create a character from scratch, 462 00:44:22,760 --> 00:44:25,600 there is just one grey ball on the screen. 463 00:44:25,760 --> 00:44:27,880 The character needs to be made using sculpting. 464 00:44:28,040 --> 00:44:30,960 It is actually a work of art for which we need... 465 00:44:31,040 --> 00:44:33,080 There are barely a few people in India who can do it 466 00:44:33,160 --> 00:44:35,600 because you don't get a lot of money for it in India. 467 00:44:35,760 --> 00:44:37,720 So, we've outsourced some of the work. 468 00:44:37,800 --> 00:44:40,480 All of our designers are on exclusive contracts with us, 469 00:44:48,960 --> 00:44:51,080 and based on projects, we keep outsourcing. 470 00:44:51,160 --> 00:44:52,360 Do you work out of a garage? 471 00:44:52,440 --> 00:44:54,000 - From home, sir. - Home. 472 00:44:54,080 --> 00:44:55,800 Who writes for Kyra? 473 00:44:56,080 --> 00:44:57,800 - We do, sir. - Okay. 474 00:45:02,320 --> 00:45:04,520 Suppose you need any fashion tips, 475 00:45:04,600 --> 00:45:08,960 send any fashion-related photo, she will see it and comment on it. 476 00:45:09,120 --> 00:45:11,160 The fashion tips come from you! Sorry! 477 00:45:11,280 --> 00:45:12,520 That's exactly the point. 478 00:45:12,640 --> 00:45:14,920 - That is all GPT... - That's what I'm saying. 479 00:45:16,080 --> 00:45:18,240 Look. It's a different thing if we want fashion tips from Kyra 480 00:45:18,360 --> 00:45:20,000 but end up getting them from you. 481 00:45:21,720 --> 00:45:25,000 We will train the model with the latest trends. 482 00:45:25,520 --> 00:45:28,320 We're using AI to build Kyra's DM system 483 00:45:28,400 --> 00:45:30,240 where Kyra will actually be able to reply. 484 00:45:30,320 --> 00:45:31,320 Is that outsourced too? 485 00:45:31,400 --> 00:45:34,600 No, sir. We have hired a head of AI recently. 486 00:45:34,760 --> 00:45:36,880 As far as I understand, you... 487 00:45:37,160 --> 00:45:38,960 You want to be the Disney of the future. 488 00:45:39,440 --> 00:45:40,320 You are absolutely right. 489 00:45:40,400 --> 00:45:41,840 - That's your aim. - That's what we wrote on a piece of paper 490 00:45:41,920 --> 00:45:43,080 when we were thinking of a vision. 491 00:45:43,160 --> 00:45:45,040 Okay. So, I can read your mind. 492 00:45:45,240 --> 00:45:46,040 Yes. [chuckles] 493 00:45:46,160 --> 00:45:50,240 - Disney wrote its business plan on a napkin. - Hmm. 494 00:45:50,320 --> 00:45:54,080 On a paper napkin with amusement parks, with movies, 495 00:45:54,160 --> 00:45:55,480 with merchandising. 496 00:45:55,640 --> 00:45:57,120 What did you write on the napkin? 497 00:45:57,320 --> 00:45:58,360 The possibilities are endless. 498 00:45:58,440 --> 00:46:00,200 If we tell you about the various possibilities, 499 00:46:00,280 --> 00:46:01,480 you'll think we're faking. 500 00:46:01,600 --> 00:46:02,760 - But... - No, we want to hear them. 501 00:46:02,880 --> 00:46:04,280 Crystallise your vision for us. 502 00:46:04,440 --> 00:46:06,960 If you don't do that, then who will? 503 00:46:17,240 --> 00:46:19,400 Research has already begun in this field. 504 00:46:19,560 --> 00:46:20,720 It is in the early stages now. 505 00:46:20,840 --> 00:46:22,640 So, that is our actual vision. 506 00:46:22,800 --> 00:46:25,000 A lot of companies are working 507 00:46:25,080 --> 00:46:26,680 - on autonomous influencers... - There are a lot of players. 508 00:46:26,760 --> 00:46:27,840 So, the thing is, ma'am, 509 00:46:27,920 --> 00:46:30,560 this technology will be democratised in a few years. 510 00:46:30,640 --> 00:46:31,920 Anybody will be able to do this. 511 00:46:32,120 --> 00:46:35,200 The brands already existing then will stand out. 512 00:46:35,320 --> 00:46:39,640 That's why we're making Kyra and the upcoming VIs a brand. 513 00:46:39,880 --> 00:46:43,040 As soon as we unlock the technology, all the VIs will be autonomous. 514 00:46:43,120 --> 00:46:44,760 If you even make 100, 515 00:46:44,960 --> 00:46:47,880 do you think they would get enough business? 516 00:46:48,000 --> 00:46:50,360 Ma'am, we have two business models. 517 00:47:05,640 --> 00:47:08,200 No, ma'am. The designers work on the specified directions. 518 00:47:08,320 --> 00:47:11,160 You tell them it should look and feel like this and they make it, 519 00:47:11,320 --> 00:47:13,000 but that direction needs to come from us. 520 00:47:13,080 --> 00:47:15,560 What the brand voice would be and what feel it should give out. 521 00:47:15,680 --> 00:47:17,680 If we could give it a human form, 522 00:47:17,800 --> 00:47:19,640 the brand would be able to communicate very effectively. 523 00:47:19,720 --> 00:47:20,840 Tell us about your sales. 524 00:47:21,000 --> 00:47:24,000 Our overall sales are Rs. 82 lakhs. 525 00:47:32,240 --> 00:47:34,480 or do you get more than this in some months or nil? 526 00:47:34,600 --> 00:47:36,200 We don't have a predictable revenue now. 527 00:47:36,320 --> 00:47:37,960 We work on a project basis. 528 00:47:38,080 --> 00:47:41,560 Some months, the revenue is high, and other months, not so much. 529 00:47:42,760 --> 00:47:43,600 I'm out. 530 00:47:44,520 --> 00:47:46,680 For me, you're a trading agency. 531 00:47:47,920 --> 00:47:49,400 You're getting business 532 00:47:49,560 --> 00:47:52,760 and someone else is creating the content for you. 533 00:47:52,880 --> 00:47:55,240 Someone else is making it for you. 534 00:47:55,360 --> 00:47:57,600 You have a big vision, 535 00:47:57,720 --> 00:48:01,040 but the basic which is Kyra's personality, 536 00:48:01,240 --> 00:48:02,640 you haven't developed that. 537 00:48:04,440 --> 00:48:09,360 This seems superficial to me at the fundamental level... 538 00:48:09,480 --> 00:48:11,200 - Okay. - For me to get excited. 539 00:48:11,360 --> 00:48:12,840 And for that reason, I'm out. 540 00:48:14,640 --> 00:48:15,960 What's your profitability? 541 00:48:16,080 --> 00:48:19,440 Out of our Rs. 46 lakh sales, 542 00:48:28,120 --> 00:48:28,960 - Yes. - Wow. 543 00:48:29,080 --> 00:48:32,080 I personally feel that this has lost its novelty. 544 00:48:32,160 --> 00:48:36,040 I've observed that copycat brands have done the same thing. 545 00:48:36,200 --> 00:48:38,080 It's no use to me. I'll look for something new. 546 00:48:38,200 --> 00:48:39,720 What else can I do? 547 00:48:39,960 --> 00:48:42,360 Firstly, you need to bring constant innovations 548 00:48:42,440 --> 00:48:44,040 and bring something new. 549 00:48:44,120 --> 00:48:47,200 Secondly, you need a solid tech co-founder 550 00:48:47,320 --> 00:48:52,400 to help you better market your upcoming future technologies. 551 00:48:52,480 --> 00:48:54,880 So, get a solid tech co-founder 552 00:49:01,120 --> 00:49:04,320 Build it up as a business for Futr studios. 553 00:49:04,440 --> 00:49:06,560 - So, I am out. - Got it, sir. 554 00:49:06,680 --> 00:49:08,280 You're quite early on. 555 00:49:09,240 --> 00:49:12,560 You really need to show your progress to investors 556 00:49:12,640 --> 00:49:13,880 in one direction. 557 00:49:13,960 --> 00:49:15,560 Either the content side, 558 00:49:15,640 --> 00:49:19,360 where you create influencers with an edge. 559 00:49:19,440 --> 00:49:20,440 Their content, 560 00:49:20,560 --> 00:49:22,560 one's is humorous. 561 00:49:22,760 --> 00:49:25,000 The other one has drama. 562 00:49:25,120 --> 00:49:26,440 Something engaging, 563 00:49:26,560 --> 00:49:30,440 which in spite of the person being a virtual influencer, 564 00:49:30,600 --> 00:49:32,320 people will follow. 565 00:49:36,880 --> 00:49:40,600 that you're the first in the world to bring all of these advancements 566 00:49:40,800 --> 00:49:44,440 which is why companies would want to work with you on latest innovations. 567 00:49:44,560 --> 00:49:48,040 It is hard to tell which direction you might head in 568 00:49:48,160 --> 00:49:50,360 depending on what your innate skill is. 569 00:49:50,440 --> 00:49:52,920 That is not visible through Kyra. 570 00:49:53,000 --> 00:49:54,360 For that reason, I am out. 571 00:49:55,400 --> 00:49:57,840 Three Sharks are out. What will you do with Rs. 1 crore? 572 00:50:16,640 --> 00:50:19,520 I tried in many ways. I asked you where you'd invest. 573 00:50:20,920 --> 00:50:23,600 Your reply was hardware, VI and a team. 574 00:50:23,880 --> 00:50:26,960 You never once said that you wanted to invest 575 00:50:28,000 --> 00:50:30,200 to build out the stories of the future, 576 00:50:30,600 --> 00:50:32,440 to build out the universe. 577 00:50:46,520 --> 00:50:47,800 You're investing elsewhere. 578 00:50:48,120 --> 00:50:50,240 It's not consistent with what you want to do. 579 00:50:50,320 --> 00:50:51,840 That's the reason I'm out. Good luck. 580 00:50:52,240 --> 00:50:53,080 Okay. 581 00:50:53,840 --> 00:50:56,680 - You're not a business, you're an Instagram handle. - Hmm. 582 00:50:56,760 --> 00:50:57,560 Okay? 583 00:50:57,640 --> 00:51:00,280 These companies need to be built vision first. 584 00:51:05,480 --> 00:51:07,000 That's how this gets built. 585 00:51:07,320 --> 00:51:09,080 - Get it? - Yes, absolutely. 586 00:51:09,200 --> 00:51:11,040 - I'm out. I hope you got it. - Okay. 587 00:51:11,160 --> 00:51:12,720 Sorry, guys. All five Sharks are out. 588 00:51:12,920 --> 00:51:15,720 Try to do something good in the right direction. 589 00:51:15,800 --> 00:51:19,200 If you make such a company in India, we'd feel extremely proud. 590 00:51:19,360 --> 00:51:20,800 - Good luck. - Thank you so much. 591 00:51:20,920 --> 00:51:22,240 boAt will continue to give you business. 592 00:51:22,320 --> 00:51:23,520 - Thank you, Sharks. - Good show. 593 00:53:07,920 --> 00:53:08,960 Welcome to Ask The Shark. 594 00:53:09,080 --> 00:53:10,920 Joining us today on Ask The Shark 595 00:53:11,040 --> 00:53:14,360 is the Co-Founder and CMO of boAt, Mr. Aman Gupta. 596 00:53:14,520 --> 00:53:16,280 - Welcome, sir. - Thank you. 597 00:53:16,360 --> 00:53:19,200 Sir, honestly speaking, I'm really excited 598 00:53:19,360 --> 00:53:20,680 for this Ask The Shark. 599 00:53:20,760 --> 00:53:24,920 It's the first time someone has asked a question anonymously. 600 00:53:25,240 --> 00:53:27,120 Sir, here is Mr. Anonymous's question. 601 00:53:27,480 --> 00:53:31,400 'We have a profit of 30% in our business.' 602 00:53:54,200 --> 00:53:57,200 the compliances there are really important too. 603 00:53:57,360 --> 00:53:59,520 You should not do all of this. 604 00:53:59,840 --> 00:54:01,320 Avoid it as much as possible. 605 00:54:01,440 --> 00:54:04,880 Firstly, you're evading taxes. 606 00:54:05,040 --> 00:54:07,880 You're using the services provided by the government.