[theme music]
[music intensifies]
'The dynamic Shark Tank panel is set to become even more powerful '
'with the arrival of Kunal Bahl,'
'co-founder of Snapdeal and Titan Capital.'
[music playing]
BL Fabric. Okay, it's a fabric company.
Or do they do custom stuff?
- There are swatches placed in the background. - Yes, that's what.
This is a custom lehenga.
Look at that 'Guess the price.'
He will come and say this will cost Rs. 2,500, they are that cool.
Has Manyavar started the women's segment also?
- Long back. Mohey! - Yeah! It's called
- Mohey! - Mohey! Correct.
They've started a premium collection too, Namita. Twamev!
- Which company? Is it... - Manyavar. If I remember correctly.
[theme music playing]
[music playing]
Hello, Sharks.
- My name is Mayur. I am from Surat, Gujarat. - I knew it.
Today, we will play an interesting game.
And you have to guess the price of the blue lehenga.
And you will get a chance to take this lehenga home.
- Oh! - But I am sure...
The one whose guess is closest to the actual price will be the winner.
Before you guess, let me tell you
that this is a trendy design.
Wearing this, you'll leave a lasting impression wherever you go.
- Really? - Especially, Aman.
It has the finest quality embroidery and sequin work.
It has detailed work.
So, let's start the guessing game.
- Awesome. - You start, Mr. Kunal.
Rs. 3,000.
It's your turn, Ms. Vineeta.
I have to win this lehenga. So, I'll guess a lower price.
- Rs. 1,800. - Okay!
- You won this lehenga, Mr. Kunal. - Thank you.
Wherever you wear this lehenga, you'll make an impression.
- He has guaranteed it. - But...
Vineeta, I'll gift it to you.
- Okay! - [Namita laughing]
This lehenga is from my brand BL Fabric.
We sell designer lehenga choli on our website.
- Deepu Didi. - You can also get them customised.
These pieces are produced in-house.
I used to be a one-man army.
I used to design and stitch.
Now, we are a team of 25 people
managing over 200 designs.
We have a network of over
- 30 lakh followers on Instagram and YouTube. - Whoa!
30 lakhs? 3 million?
Yes, 3 million.
In just three years we have been able to give over 65,000
ladies their desired look.
I want this number to keep growing.
So, my ask is Rs. 1 crore in exchange for 2% equity.
- Oh! - So, Sharks!
This lehenga is quite affordable.
- Hmm! - Welcome to Shark Tank.
- Thank you! - You have such a vibrant look.
It's made from the leftover fabric of the lehenga.
How much does your outfit cost?
This one is for Rs. 10,000.
Okay! Your pitch was interesting.
You said Deepu Didi and who else?
- Deepu Didi was funny. - Alu Ma'am.
- What? - Alu Ma'am.
- Who is that? - Alia.
You referred to Alia as Alu Ma'am!
I completed my graduation in 2015.
And then I tried getting into business.
I was working offline.
- Was it fabric related? - Yes, but in the garment industry.
I joined him and took his product online.
In 2020, I quit working with my brother
and started BL Fabric.
How did you come up with the name BL Fabric?
My brother's company
was called Bipolar Life Enterprise.
I shortened it to BL.
So, ask him!
Our focus is on semi-stitched garments.
The customer will
- does that come with it or is it separate? - It's with it.
[music playing]
Do you sell ready-made outfits
with cancan for Rs. 3,800?
No, not ready-made.
- The material. - If you want to stitch it,
you have to pay Rs. 1,000 extra.
Still not bad. The total is Rs. 4,600.
- Material. - They need to stitch
the lehenga according to their measurements.
- Yes! - The lehenga will be semi-stitched
- and the blouse will be unstitched. - Unstitched! Because...
- The dupatta will be ready-made. - They can stitch
as per their liking.
- Not everyone prefers our pattern. - Hmm!
We send them a chart
- with measurements... - You will stitch it for them.
- Both options are available. - That's right.
Mr. Mayur, when did you start?
I started this business in 2021.
How do you sell your products?
All our sales are made on our website.
You mentioned that you have 30 lakh followers on Instagram.
It's the total of Instagram and YouTube.
How many followers are on Instagram?
I have 8 lakh followers on Instagram.
Could you show us your viral video?
[music playing]
Have you received the YouTube Gold Play Button?
Yes! I have 2.2 million followers there.
2...
Hold on! How many? 2.2 million followers?
Yes.
Wow!
Do you teach how it's made?
No, I show them the process of how it's made.
How many views does this have?
47 million.
What?
47 million?
- 47 million views. - No, it must be 47,000.
No, 47 million.
There are more than 1 million likes.
- 1.6 million likes. - Is he serious?
Please check.
Yes, 47 million views.
Oh my God!
3 million, 1.2 million, 2.2 million.
You are amazing.
What is working?
What do you mean?
How is this happening?
How are you doing this?
People love the videos where I show the process.
- Most of them like to see how it's made. - Okay.
Could you show us your YouTube page?
Which video is popular here?
- Show us the comments. - We never get negative comments
- to date. - Beautiful! So talented. Sir, you've got mad skills.
- Are you a trained tailor? - Yes.
- Do you showcase the process of how it's made in your videos? - Yes.
I am going to start making long videos.
I will gradually upload them.
- I used to review earlier. - Okay.
Did you teach yourself, or did you learn by observing someone?
- Did you do a course? - I taught myself.
- No! - You learnt to do this on social media on your own.
- Yes, I did. - Amazing!
What are your qualifications?
- Bachelor of Engineering. - In which year?
I completed it in 2015.
- After that, you started working with your brother. - Yes.
Amazing! You should be proud of what you've achieved.
Could you share your revenue for the last three years?
You started in 2021, so tell us about the revenue from FY22 onwards.
In FY21-22 we made sales of Rs. 1.42 crores.
In FY22-23, Rs. 1.85 crores.
And FY23-024, Rs. 5.25 crores.
What led to such a significant increase?
I started making content and increased SKUs.
- Oh! - How much did you make in the first six months this year?
- Rs. 5 crores. - Now that it's the season,
- what will the total be for the entire year? - Around 18 crores.
How many people on your team handle social media?
I handle that myself.
Are you making all the content by yourself?
- Fire your team, Vineeta. - I think so.
Seriously! How often do you post content in a month?
I post around 20-25 pieces of content per month.
- Around 25? - Wow!
Do you edit and upload by yourself?
I have someone to record my videos.
- Okay, there is someone to record you. - Yes.
- And then... - I edit the videos.
- You edit them. Good! - Yes.
And then we have this man. Look at him!
Amazing!
Aman is right.
In Emcure Nutraceutical,
- we have a team that makes content. - Yes.
- And we have a team that makes videos. - Yes.
The third team figures out what, where and when to upload.
- There are agencies. - Yes.
And you are doing everything by yourself.
20 content pieces per month.
- Yes. - And you doubled your revenue because of it.
- From Rs. 2 crores to Rs. 5 crores to Rs. 17 crores. Superb! - Yes.
Mr. Mayur, could you tell us
whether you are in profit or loss?
- What sort of question is that? - I am making a profit.
- Hello, have you been to Surat? - I know. But I have to ask.
In FY21-22,
we made a profit of 4%.
- Nice. - In FY22-23, our profit was 5%.
In FY23-24, our profit was 3%.
What is it now?
Currently, our profit is 10%.
Seriously!
There's no business where everything runs smoothly all the time.
- Every business has some challenges. - Yes, definitely.
You mention a few challenges your business faces. I don't see any.
Challenges...
We do face challenges in business.
But currently, I am not facing any challenges.
[laughing]
We offer so many designs.
No boutique owner
offers so many designs in a month.
- How many new designs do you offer? - 25 designs.
And at any given time, how many SKUs do you keep
We maintain around 200-250 SKUs.
Are all the customers buying semi-stitched products?
- Yes. - How many of them are getting it customised?
5% of customers opt for fully stitched products,
while the rest buy semi-stitched ones.
Explain the unit economics once.
That lehenga is for
- Rs. 3,799. - Yes.
What is your cost of production, and how much do you spend on shipping?
The cost of production is Rs. 2,400.
And does that include tailors...
It's inclusive of everything.
How much do you spend on sourcing the fabric for that piece?
It costs Rs. 60 per meter.
- Okay! - I use 5 meters of fabric for this.
- So, Rs. 300... - And the fabric for the dupatta
costs Rs. 25 per meter and you need 2.25 meters of fabric.
Okay! How much do you pay for shipping?
Including RTO and everything, it's around Rs. 300.
- Rs. 300. Do you accept returns from consumers? - Yes.
- We do. - What percentage of products are returned?
Around 3%-4%.
How much are you spending per month on marketing?
Last month
I made a sale of Rs. 2.4 crores.
I invested Rs. 13 lakhs in marketing.
Where is the rest of the money going, Mr. Mayur?
After deducting
the making and shipping costs, you are left with Rs. 1000.
But last year, your profit was 3%, that is Rs. 100.
Where does Rs. 900 go after subtracting Rs. 100 from Rs. 1000?
We are making more profit now.
This year you are making 10%. How much was it last year?
Last year, our net profit was 3%.
Where did you spend 7% last year?
What is your fixed cost?
How much do you pay your employees in a year?
I am paying Rs. 5 lakhs per month.
- That's Rs. 60 lakhs. That's enough. - It's Rs. 60 lakhs.
Tell me something, Mr. Mayur.
What is your long-term vision for BL Fabric?
I want to make it the most popular brand.
You must have a specific number in mind.
After 2-3 years, I want to make it a business of Rs. 100 crores.
After that?
Let's assume
- that after 5-10 years... - Yes.
- Where will you be? - At least around Rs. 1,000-Rs. 2,000 crores.
So, women aged 18 to 40
- are all buying your product? - Yes.
Currently, women who don't have
a tailor are unable to buy your products.
The customers want ready-made clothes.
But the return ratio goes up significantly.
If there is a slight issue with the fitting,
they will definitely return them.
But that is not the customer's problem
that your returns are more. That's your challenge as a business.
- Yes. - So, how will you make
this a Rs. 1,000 crore company by selling only semi-stitched clothes?
I'll need to carry out a price analysis.
Also, we will have to explain to the customer
that they will have to alter in such cases. That is what can be done.
When Ritesh asked about the challenges your company faces,
I'd like to address what I see as your primary issue.
- There is a word, keyman risk. - Yes.
- When a person... - Good point.
- Does everything by himself... - Yes!
- Definitely. - It's very risky for an investor.
- Right? Because... - Yes!
By chance, if you go on a vacation for six months,
what will happen to the business?
We will be in trouble because you went on a vacation.
You must have considered what you would do in such a situation.
I want to hire a person who would handle this.
I want to do that.
So, you will hire someone.
If one of you joins me, I will get to learn
how to... For example, you mentioned 'keyman...' What was that?
- Keyman risk! - Yes.
I will learn if someone gives me proper guidance
about what needs to be done and which team to hire.
Only then, I will be able to grow. I need some guidance.
Mr. Mayur, the scale you're operating on right now...
- Yes. - Right?
Don't take money from investors now.
Don't get into that.
That is my advice to you.
- But for today, I think it's too early for me. - Yes.
- And a little risky also because of the team. - Yes.
- For that reason, I am out. - Thank you.
Mr. Mayur, the only doubt I have is that,
- while consumers use their brains to think,
- but they shop from their hearts. - Yes.
They won't sit and do the math.
They won't care how much they are buying it for, they just buy it.
I know a lot of them
who will never buy semi-stitched on e-commerce.
- Because they are getting it read-made in so many places. - Yes.
The other challenge is, if you want to make a brand in the long term,
there is something called operating leverage.
Your gross margin has to be enough to invest in marketing
to build a strong brand.
- Your gross margin leaves you with just 30% to invest. - Yes.
Because your gross margin is low.
- This is a value game and not a brand game. - Yes.
You might face a challenge in scalability.
But I am sure you are
an incredible entrepreneur. You'll figure out these challenges.
But for me, it's not investable at the moment. So, best of luck.
Thank you!
Mayur, I believe you understand your business really well.
I can help you with talent in business and capital management,
but I won't be able to help with your business itself.
You know your business best.
I find your business interesting from an outsider's perspective.
- So, I would like to give you an offer. - Okay.
My offer is, I will give you Rs. 1 crore equity. - Okay.
- Against 5% ownership. - Thank you!
Mayur, meeting you, I felt like
there was a stereotype... Do you understand what a stereotype is?
There's a certain image
in our country of what a startup founder is like.
- Yes. - They typically go to IITs
- or prestigious colleges. - Yes, right.
- You're completely different from that image. - Yes.
Maybe that's a good thing.
Because founders like you
inspire a generation of youth.
In top schools,
they teach all these great business principles
and big words.
They teach how businesses are made and so on.
- They give different frameworks. - Yes.
But you didn't need any framework.
You just applied logic.
You didn't care about the business others thought you should have.
- You built the business you wanted. - Yes.
I have an offer for you.
Whoa!
- Rs. 1 crore for 5%. - Okay!
- Same as you, right? - I also offered the same.
- I would've given you a deal. - Okay.
But I think
you already have good deals.
- Okay! - I was considering a royalty deal.
But I am out for now.
You have two offers. You decide what you want to do.
[music playing]
May we negotiate?
- Yes, please. - Of course, tell us.
- You have the right to! - We will help you with negotiation.
Can we close the deal for 3%?
[music playing]
- Good counter. - Who is this counter for?
Both of them.
What are you looking for?
Do you want a better valuation
or do you want more money?
Compared to my sales,
- I believe the value should be higher. - Perfect!
- I want to give you credit for your growth. - Okay.
But conditional.
I will change my offer.
[music playing]
- I'll give you Rs. 1 crore for 4%. - Okay.
But the condition is that if you achieve
a revenue of Rs. 17 crores this year,
even if you reach Rs. 15 crores,
If you are interested
- in partnering with me... - He is interested, Kunal.
Then I will match Ritesh's offer.
Can both of you do this together?
Are you willing to accept Rs. 2 crores for 8%?
Make it Rs. 50 lakhs each.
- No... - Oh God!
He is right. He doesn't want to give up too much equity.
The percentage is less.
Don't you want to go with just one Shark?
It would be more beneficial if both of you joined.
I believe it could turn into a big business.
- Both of you go and discuss. Ritesh will agree. - We'll discuss.
I am helping you close the deal.
Come!
He agrees. Kunal is new here. He gets scared.
[laughing]
- What did you say? - It will work if you talk.
[laughing]
Okay!
We will both join you.
We will discuss it with each other.
- We might not have an equal share. - Okay.
- I might have more share. - Okay.
- That is between us. It won't make a difference to you. - Yes.
The total will be the same.
You have to say, 'deal accepted.'
Mr. Kunal has expertise in logistics and e-commerce.
He can easily help me with my business.
And Mr. Ritesh will help me with ideas.
He runs a wedding business.
He could help me
grow my business.
They can also guide me. Which is why I finalised the deal.
- Hello, Mayur. - Hello.
Welcome to our PokerBaazi zone, where you hold the cards.
- Okay, thank you. - Your pitch was impressive.
- Thank you. - Poker and business have a lot in common.
In both, you need to analyse your competition
- and constantly sharpen your skills. - Yes.
What cards form a royal flush, and what cards form a flush?
Okay!
First is strategy.
Okay! Very interesting.
- Strategy as a royal flush. - Quality assurance.
- Okay! - Sales.
Sales? Very interesting.
- Operations and logistics. - Okay.
And finance and accounting.
- This is interesting. - Yes.
Tell me something.
You have an interesting strategy.
- Because you chose strategy as a royal flush. - Yes.
Why so?
Because in the clothing business, strategy is key,
whether it's designing, marketing, or sales.
Everyone is making clothes.
But no one can grow their business without a strategy.
'Shark Tank India, co-presented by ACKO Insurance,
'PokerBaazi and Swiggy Instamart.'
'Co-powered by Adani, and Jaguar Bath and Light.'
'And partners, Rayzon Solar, ICICI Direct, '
'Lenskart and Sofy.'
[theme music playing]
[music continues]
Hi, Sharks.
The world is shrinking.
We have access to most of the things around the world, right?
Whether it's the coolest hype
or the most exclusive global luxury brands.
Now, you don't have to call your aunt in America
to buy sneakers, streetwear or handbags, right?
Wrong! That's what you are made to believe.
Even now, there are several loopholes in accessing
the latest collections of luxury brands.
Aman, we know you love finding deals.
But according to our research,
there is an 86% chance
that whenever you've bought sneakers,
or watch from a reseller,
there's a 36% chance
that it was counterfeit.
We still have to call our aunt in America.
But, Sharks,
it's time for an upgrade.
And to give India a full access pass
to the largest collection
from the coolest global hype and luxury brands.
And we are building Culture Circle.
India's premier marketplace for high-end and luxury fashion.
You will find an authentic drip on Culture Circle
across sneakers, streetwear, handbags,
and honestly, whatever that's cool and in the culture.
- Hmm! - And the secret behind our growth
And our vision
is to make Culture Circle
globally the biggest, baddest and largest resale platform.
And our ask is Rs. 1.2 crores for 0.5% equity.
Phew!
All right, bye. Have fun. Enjoy!
Are you ready to join the Culture Circle?
- The valuation is Rs. 240 crores. - Correct.
Are we crazy?
Okay. Devansh and Ackshay,
- welcome to Shark Tank. - Thank you!
Tell us about your journey.
Devansh and I have been best friends for 14 years.
We were in the same class and school.
I studied Computer Science Engineering
What background do you have beyond that?
After Computer Science Engineering when Devansh opted for MBA,
I chose a more non-conventional route.
I started my investment journey in...
I joined JITO.
Which is a Jain International Trade Organisation.
Very well known.
I head Gurugram's vertical in JIIF.
You said you chose
- an alternate career. - Yes.
Did you have the opportunity to join IIM Ahmedabad,
- but chose not to? - I...
I didn't appear for CAT.
- Okay! - Exactly!
- You didn't appear for CAT because... - Yes.
You thought you couldn't crack it.
No! I know I am smart. I didn't appear for CAT
but I chose...
You let it go!
You are here to ask for a valuation of Rs. 240 crores,
you have to be smart.
Let me tell you, the shoes that Devansh is wearing
retails for Rs. 10 lakhs.
- What? - Dior.
- Dior AJ... - Worth Rs. 10 lakhs?
The market price is Rs. 10 lakhs,
but on Culture Circle it's for Rs. 6.5 lakhs.
[laughing]
That's our USP.
Great sales guy.
All my shoes combined don't cost this much.
That's fine. You can buy these. They only cost Rs. 2 lakhs.
Only?
[laughing]
What would be the price of your cheapest shoe on your site?
We sell Air Force and New Balance.
- They cost around Rs. 6,000. - Rs. 6,000.
Okay! How much for the most expensive shoes?
- Rs. 30 lakhs. - Wow!
When did you start this?
Culture Circle started as a college project.
- Oh! - In September last year.
where you can compare prices.
In just two or three months,
there were 30,000 organic visits with zero marketing.
We realised that there is an opportunity in this.
People are talking about this platform.
We created our buyer-side app, Culture Circle, in January,
where all the consumers gather. We made that.
Which is similar to a Unicommerce-type solution.
It helps improve their P&L, makes buying better,
and simplifies the listing process.
I somewhat know that business.
In this short journey, we have had amazing mentors
at IIMA Ventures.
Even at Info Edge.
They have supported us to get to this stage.
How has Info Edge helped you?
We raised rounds from Info Edge back in May this year.
- Oh! - They invested Rs. 16.2 crores.
- Wow! - Yes. In May this year.
- No wonder! - What was the valuation?
The valuation was Rs. 80.2 crores.
The convocation at IIM Ahmedabad happens in March, right?
Yes, it happened on the 30th of March.
Mine was also around 28th March.
So, you graduated on the 30th of March
and you received funding on the 24th of May.
We didn't go out looking to raise funds.
There was a pitch event at IIMA Ventures,
where there was a boot camp,
and that's where Info Edge reached out to us
saying they have an active thesis in this category
and wanted to have a conversation.
I bet your batchmates were jealous.
Mr. Sanjeev Bikhchandani is someone I really admire.
He always says that the founders he believes in
are the ones who make long-term bets.
But he's very picky.
Let me tell you, you are extremely lucky
to have a mentor like Sanjeev.
- Thank you. - Thank you so much.
I did go online to buy sneakers.
I didn't know about your company.
Your website, UI, UX, your search algorithm
are impressive.
You should download our app.
- You will love the UI, UX... - I didn't check your app.
You can show it to us here.
- Should we show you a demo? - Please.
Sharks, this is Culture Circle app.
In the bar on top, you can see
some of the brands we sell on our platform.
And we operate across categories.
We are not restricted to sneakers.
In fact, we have jackets.
You can see the kind of brands we have.
Moncler, Jordan, Travis.
We also have sunglasses.
We curate these products
in one place.
Let me show you our USP.
Choose a pair of shoes.
For example, let's say my size is UK 9.
I will get a price comparison from all the verified sellers
Tell me something, are they new or used?
All are new!
Untouched and brand-new products.
There is a major problem with duplicates. It's an issue.
There are two main methods to authenticate any product.
First, inspect the product physically or digitally.
Second, you can communicate directly with the brand.
We work on both these levers.
Number one,
we use global authentication standards
which are used by billion-dollar companies.
We are their exclusive partners in India as of now.
No one else has partnered with them.
So, every product on our platform
goes through their technology,
ensuring an authentication certificate guarantee.
No, sorry! This is happening virtually, right?
Since 2018,
brands are now actively wanting to be part of the resale market.
They realised Nike got free promotions for 30 years.
- So, brands are now actively investing efforts. - Yes.
Whether it's RFID, barcoding, etcetera,
in all of their products, for all luxury brands.
But barcodes can also be duplicated.
No! But the original manufacturer can tell you
the batch quantity based on the barcode.
- Correct! - This is how it is in pharma.
he will be banned forever.
And the 30 resellers who vouched for that seller
will also be banned.
Why is their situation so difficult these days?
Inefficient cost management.
In the past, this industry operated like this.
We set the price of the show at Rs. 8,000,
and we know we can get it for Rs. 6,000.
Once the order comes in, I get on 300 WhatsApp groups.
'I am looking to purchase this shoe at this price.'
80% of this industry is still unorganised.
It was running on WhatsApp and Google Sheets.
They mention 'Want to buy.' Sometimes you get them or you don't.
It was available for Rs. 6000 a month ago, they quoted Rs. 8,000.
But now, it's for Rs. 9,000.
So, before we came in, on average,
their order cancellation rate was 30%.
- Oh! - Which these players could not fulfil.
What we did was, with our data points,
SourceX app... I'll show you a demo.
Let me tell you about cancellations.
Let's say, as a seller, I reject an order.
I don't have this product or it was sold.
There is an automatic bidding system on our app.
So, this goes into the bids,
and the 3000 sellers get the bids broadcasted.
about new releases, trending items,
what's happening in apparel, most worn and
most sold products, and potential top investments.
Where are you sourcing this content from?
We scrape 234 websites globally.
And from there, we aggregate all the products,
That is one. And secondly, by assisting the reseller
with improved purchasing, we can ensure
that when an order comes in,
they will already have the product available.
It won't take 30 days.
It will be fulfilled in six days.
The better their sourcing is,
the better our customer experience will be.
How much is your 'out of stock' rate?
It's tough to make money in marketplaces.
What are you planning?
The most important number for profitability
in marketplaces is the take rate.
Take rate refers to
the percentage of commission a platform
or service provider charges
on transactions made by its users.
For example, if an e-commerce platform
sells goods worth Rs. 1 lakh
and retains Rs. 10,000 as commission,
the take rate would be 10,000 divided by 1 lakh which is 10%.
Now, the advantage is
that since the supply side is disaggregated
and consists of limited-edition products,
marketplaces globally charge commissions
in the range of 25% to 30%.
That is what most marketplaces take.
Currently, we operate at a blended commission of 16%.
Okay! But they are also selling them on their site.
They don't mostly have sites.
- They have Instagram pages. - They do. Most of them have sites.
- Yes. - Like Find Your Kicks' website.
- They have 'x' price on their site. - Correct.
Why would I buy from your site then?
Your website serves as a tool to check current pricing.
I was talking about individual sellers. They don't have a site.
On Find Your Kicks, we don't charge any commission.
Whatever fair price is listed on their website
will be the exact price you get.
You don't earn any money from that?
- No, we don't. - Won't you earn anything?
We don't want to.
- Because 99.5... - How will you make money?
99.5% of orders are not like this.
We have 3,000 resellers...
- Individual? Okay. - They are individual resellers.
Apparel is 30%.
- Oh! - And accessories are 10%.
How does taxation work in this industry?
So, GST on our commission.
Let's say, on the platform,
the seller's payout price is Rs. 8,000.
So, Culture Circle's margin is Rs. 2,000.
The tax we pay
is 18% on this Rs. 2,000 increment.
An invoice is generated
from that individual
- to that... - Customer.
Customer! Since it's peer-to-peer.
The entire regulation has not been established for it.
Uh, that is the main purpose. Like, we...
Actually, in this phase, I think, this is a huge risk.
Do you know, in e-commerce, on the supply side...
there is high focus of tax authorities.
Correct, correct.
But, they are often fixed-price products too.
Here, these are moving price products.
What's being followed globally...
plus what's exactly being followed in India too
with all peer to peer marketplaces...
Okay, tell us the numbers.
Year to date, from April to November
we've made gross sales of 22.2 crores.
So, I'll tell you a broad trajectory.
When Info Edge funded us, we were doing 1.3 crores in net GMV.
In November, we closed our net at 5.05 crores.
Which is 16% now. So, in terms of size of business
- It is uh, more than six times... - But, Devansh.
Hand on heart...
you think that they made the investments seeing any metrics?
- It was potential. - Their goal seek was to get 20% equity.
So, you can't take that as a starting point.
Yes, correct. So, one more comparable, for example. The other
players in our industry, globally
typically trade at 2.5x of GMV.
But, their annual growth rate is 10-15%.
As of this moment, we're growing 30% month on month.
What is the expectation of FY26?
Total GMV, if I have to say...
we want to close at a 300 crore GMV.
Again, this is on a 15-20% month on month growth rate assumption.
So, you're doing another round raise?
- Uh, no. - How much do you have in the bank?
17-17.2 crores in the bank, still.
It's, honestly, for that guidance and mentorship.
But, for guidance and mentorship, you would do it at the same round.
Right? You wouldn't pair up valuation.
You could give equity for free.
We feel, that would be too unfair
to the people who have believed in us at that point.
That point where there were lower revenues.
No, you say you want guidance.
So, that's the... I mean, you're not even having a flat round.
You're making it 4x in 4 months.
Because, business has fundamentally changed.
It is more like, you get marketing without a deal. Win-win.
- No, no. - Like, we are here to make a deal.
Or, a deal at 200 crores. A disgusting valuation, where...
We are here to make a deal. Otherwise...
Uh, that is our very clear intent.
So, you would do a deal at 80 crores?
At 80 crores, we would not be able to. It would be really unfair
to our investors then.
What's unfair is that you have 17 crores in the bank
and still came to Shark Tank. Another brand...
that needs capital is unable to take your place.
That's unfair. What you're facing is not unfair.
You shouldn't cite someone else, that they'll find it unfair.
What will you feel?
- No, so, we'll find it unfair too. - Why?
In today's date...
this is a business worth a 9 crore revenue run rate.
Honestly, if you ask me, 80 crores is also a very rich valuation.
And, an investor who puts 16 crores for 20%
and an investor who puts 1 crore have different approaches.
Because, you know, the 0.5% you're offering has no meaning.
So, it is really... I mean, I am finding it...
impossible to believe
that you've come here with the intent of a deal.
Either you came with the thought of closing at 80 crores.
- This was just a negotiation. - Yes.
Or, you think there won't be a deal, it's the best. You'll get marketing.
Which is no harm. But, there is no way you've come to make this deal.
After our first term sheet, we had offers with more valuation
within the next 30 days from a tier 1 fund.
And, we did not take that deal.
And, we have refused a lot of people
as individual angels, who we wanted on the cap table
uh, at a higher valuation than 80 crores, to be very honest.
I see two challenges in this.
I don't enter a GMV multiples game
because, as a 0.5-0.6% shareholder
by the time things happen in it
the company posts an IPO, nothing is left.
- Maybe 0.1-0.05%. - Ma'am, we'll directly have an IPO next.
Exactly!
Secondly, you said luxury brands love this.
I feel that they love it
to a certain point, till they think individuals are playing this game.
There is a demand to supply action for the brands.
The moment you'll scale this high
brands will have a problem
because, not only will they sometimes go to 30 lakhs
but, it will also happen sometimes that their stock will touch 5000.
Ma'am, then, we'll be able to establish
a retail relationship with them.
They won't do that!
Because, there is a reason that Gucci does not sell online
and Dior does not sell online, because, their...
they have such a huge business with Reliance.
They have offline partnerships with luxury retailers.
If they sell their products heavily
in the online culture circle
then, they'll have fights with their offline partners.
For them, this positioning that
their brand should look this way, this should be the price...
is so important
that the moment you become a serious business
they will come and stop you.
I hope they don't and I hope you succeed, because
India needs something like this.
But, for now, I'm not able to partner with you. Best of luck.
Thank you.
This is a very risky business.
You have kind of a tail vent, you have good momentum.
You're unable to see the risk right now.
But, I like taking risks.
- Thank you. - So...
The valuation will remain at 80 crores.
But, I'll put in 8 crore rupees.
So, I want to offer you...
for 90 crore valuation, 1.2 crores at 1.33%.
I really want to.
I can't give you that valuation at all.
I give you a 40 crore valuation.
Devansh is looking like he's going to punch you.
- Punch me, man. - No, sir.
I won't take more than 1%.
But, I'll give you 40 lakhs as equity.
- 40 lakhs, if we want to... - And, rest debt...
at 10% for 2 years, which you can use if you want to
So, I understand sneakerheads in this category.
I'd like to give you an offer.
I'll give you 1.2 crores
for 1.2%.
That makes your valuation 100 crores.
So, it's the highest valuation of all three.
But, I will want 0.5% royalty
till I recover
my principal amount of 1.2 crores.
If we give any cash flow
off the top anywhere instead of reinvesting it...
You know, I tell everyone that when you give equity
you give it permanently.
Royalty is temporary.
Think about it. Well, thank you.
And, are you willing to walk off at 120?
[tense music playing]
We do have a counter.
- He's here. - Of course.
We want to part with 2% equity
against 2.4 crores of investment. This is...
an offer open...
to everyone who was willing and gave us an offer.
- You shot down from 240 to 120? - We want to prove...
everyone wrong. We are here to make a deal.
We see the value.
Shall we make a combined deal in this?
I'm very clear that I want royalty. So, I won't make a combined deal.
I've changed my offer.
1.2 crores for 1%
with 0.5% on NMV.
Our offer is, for 1.5%, at a valuation of 80 crores
an investment of 1.2 crores.
I think I will be able to help you.
Specifically, the opportunity to grow from India to the world.
I've fundamentally, closely seen in the matrix that
the number of users in this segment is less
but, their repeat purchase and wallet shed can be disproportionate.
All these things are connected
to deep supply-oriented efforts
which, I think, is being done well by you.
But, we may be able to help you shift from India to the world.
Consumer connect.
What does the consumer want? How do trends change?
How to map the Indian consumer.
I have the passion to run a business strategically.
Marketplace...
Nobody can help you better than Sanjeev Bikhchandani sir.
Only someone who has built a marketplace for a long time
can know how complex it can be.
Building it, giving it momentum, maintaining the momentum.
So, his valuation was the same as...
I was offering 80 crores.
I can reduce ownership, because it seems you are ownership-sensitive.
Will you give 3% ownership at 80 crores?
No.
He doesn't go under 10.
You're ready to give 2%, right?
So, my offer is 1.6 crores
at 80 crore valuation, so 2%.
To whom are you giving the counter?
Uh, to Kunal sir and to Ritesh sir and Aman sir.
- You rejected me! - It's a joint offer.
- Because, we will not be willing to accept royalty. - Royalty? Okay.
- No problem. - Ma'am, that is the only issue.
Thank you so much for the offer.
1.2 crores at a 100 crore valuation.
I'll do 2 crores at 100 crores also.
[screaming excitedly]
Guys, we all can help you, man!
So, why don't all three of you come together?
So, raise the round size. We won't have a problem.
Sharks, let's do 4 crores at 4%.
- Wait a sec! - Oh my god!
All three of us, right?
So, I'll ask once. Do you want to give 4 crores?
Hey, I'm still there! If they'll negotiate now, I'm still there.
At 120.
- I'm still there. Still valid. - Is that offer still valid?
Can you let go of the royalty anyhow?
I can make it 0.25%.
- No. - Fundamental issue is the royalty.
- Okay, guys. - Okay.
So, I think, if there are 3 Sharks...
I always say, 3 Sharks have their own value.
But, Kunal, let me say one thing, you can't then go individually.
Either we go together, or, we...
- You can't make an offer later. - I know how to make a deal.
No, you're on Shark Tank for the first time.
No, I've made more deals than you.
So, we three... yes, you've made deals, but...
I'm telling you, you can't go alone later.
- We're together. - His name has Snapdeal in it.
- Okay. - So, we have only one offer on the table.
We'll give you 4 crores, not at 4%, but at 5% now.
[gasping]
Nothing is being solved. Dilution is also not solved.
We cannot be unfair to our investors
- as we will never be... - And, I'm still there.
unfair to you also, anytime in the future.
I've reduced the royalty to 0.25%.
And, this is all we can do now.
4 crores for 5%, 3 Sharks.
So now, you decide.
All said and done, you're getting all three too.
So, each will bring his value.
And, you're getting 50% more valuation from me.
- No royalty. - Namita?
[laughter] Guys!
- Boss, you are not here for a deal. - Decide!
- You came for getting on-air! - No!
- No, I believe in you! - He meant something else.
- You're here for the right reasons. - It's an inside joke.
Boss, I am out! You guys can go with all four of them.
- You're here for the marketing. - No!
- I'm out! - Don't apologise.
No, it's a great marketing platform on national TV.
If I was given such a platform...
- I am unfortunately out. - Hey, I believe in you.
Given Aman's out, now...
it's no longer a joint deal, so, individual deals are on.
Are we on or not?
[dynamic music playing]
- Please be a customer. - But, I value my time.
- Sir, please be a customer. - I will.
- Thank you, sir. - If I get the best deal.
- How old are you? - Uh, 26.
- I'm 26. - I'm just 27.
Amazing! You guys are really great.
You... why did you miss out on me?
You barely got by today.
This never happens with founders.
[exciting music playing]
Superb! Very good! Good deal.
Buy your next shoes for 40 lakhs, you've grabbed a great cheque.
- Thank you so much, sir. - Thank you, sir.
- Bye. All the best. - Wow!
- What a game they played! - Really!
Do you think he purposely said it so that we hear
- and then, you leave, and... - No, I'll tell you.
they make a deal?
I'm getting a national platform for marketing.
It's the best thing I can do for my business.
And also, we wanted to just prove a point that we
are here to make a deal, which is why we slashed
from 240 to 120.
- They did it intentionally. - So, you leave and...
No, they did it intentionally.
But, we are very happy with Ritesh and Kunal sir.
I mean, our IPO is confirmed in three years.
Guys, the set of Shark Tank India
has very hard-working people here.
Especially, the interns here.
That reminds me.
Very genuine and hard-working people.
They have vibrant and energetic personalities.
But, where interns are concerned, nobody can stop one thing.
You know what? The fight for stationery.
They're fighting me for stationery. I don't even use it.
But, who's the host? I am.
Whose responsibility is it? Mine.
I will have to handle this matter.
I'll take help from Swiggy Instamart, obviously.
I'll order stationery for them. What else?
I'll add some pens. A couple of markers.
Colourful notes.
A cartoon pen stand. I like this too, I'll keep it.
I'll order some chocolates to make these kids happy.
Done, added.
It will be here in 10 minutes. No worries.
You go on Swiggy Instamart too.
Order whatever you like, this has everything.
Order now.
Stay at home and play. Be a Home Shark
and win lots of prizes.
You can analyse pitches like us
and make predictions. And, for that...
download Sony LIV app today.
[theme music playing]
[gentle music playing]
Greetings, Sharks.
I'm from Jaipur.
who began his journey at the age of 13.
I come from a business Marwari family.
So business minded
that even my pocket money had to be ROI justified.
I always built businesses on a 3P formula.
but, also be able to create a life changing impact in people's lives.
In India, almost 45% people have been considered unhealthy.
Or, they are going to.
And, a 70-hour work week has become the new debate trend.
Introducing you to my current company, Nexera.health.
Nexera is an end-to-end healthcare platform
And so, HRs get access to the admin panel
where they can see visible ROIs for their employees
and indirectly impacted thousands of employees
in corporates across the world.
I always say, it is natural to make mistakes
it is cultured to accept them and progressive to change.
- My god. - Amazing!
So, with your guidance, we'll make progress
and learn from our mistakes too.
I would like to end my speech by saying,
'patience will bear fruit, your wish will be fulfilled'.
'You will attain your goal, maybe with struggles.'
'The lost ones are those who didn't try at all.'
So, if we are patient and perseverent enough
we will definitely pave our way through.
- Sorry, sorry, Himanshu. - Himanshu, yes.
Ritesh is here, but, you're truly a mini Ritesh.
We are the same.
At the age of 19. Did you use Ritesh
as a model for your clothes and hairstyle too?
Ma'am, this is the most Gen-Z clothing I've ever worn.
- I'm always a suit-pant guy. - Okay.
- Oh! - Come on!
And, did your parents check
your ROI on oxygen also as a child?
- Yes. - Because, you talk non-stop, without taking a breath.
I saw Aman and my energy went high.
So, Aman brought you energy.
Ritesh prompted you to have a start-up at the age of 19.
And, you stole Namita's line.
That's my verse that you recited.
Actually, that was Gulzar's...
[laughter]
Love it! You're right.
- And, you're a drop-out like him too? - Yes.
I mean, I never went to college.
I did complete my high school.
If I can give you a context about my journey.
Of course, tell us, Himanshu. We are very curious.
My journey began with TYE too.
So, we launched this company called as BookABuddy.
So, BookABuddy was a platform
where elderly or physically challenged people
We scaled, converted an idea into a product.
We made an app for it, we commercialised it too.
In fact, we won in TiE too.
This is TiE Rajasthan. Well, this was my life's first business pitch.
I was almost 13.
And these are the five co-founders in my first company.
Amazing! Amazing!
But then, we faced an option to either give up money or love.
Like, either you can focus fully
towards your education or your start-up.
I felt, I had had a taste of entrepreneurship
and that's what I wanted to do.
But, my other co-founders wanted to
continue with their IIT or JEE exams.
So, unfortunately, I had to close down that company.
But, I went and told my dad
me, Arnam and Naman gathered 1 lakh rupees each from our parents.
- You basically found other friends. - I found other friends.
We started this company called as SLSE.
And we started solving the supply chain problem.
Their labourers don't understand the technology.
Our problem was, how to solve
supply chain issues with minimum technology.
We had an app made with Rs. 1,60,000
and we scaled it at a monthly revenue of 1-1.5 lakhs.
And then, one of our client's friend learned about our company.
Then, he came to us after around 1-1.5 year
that we have a good product with very sorted technology.
He wanted to buy our product.
- I thought... - The company must not even be in your name.
Yes. Until very recently, my mom used to sign my cheques.
Always.
The first Rolls Royce car of my hometown, Jodhpur
was purchased by this handicraft and furniture business owner.
So, I was like, this industry has money, let me explore it.
So, I started a company, Asathi.
In Asathi, we used to do B2B furniture exports.
If a big businessman from India
built a building of 50 studio apartments in Dubai
I'll give him the end-to-end furniture for all 50.
So, in one year, that company... I was the solo founder...
We scaled to 2.7 million dollars in revenue.
- I was... - How did you suddenly reach USD?
- He was exporting. - Right.
- But, your company was in India, right? - No, Dubai.
- Your company was incorporated in Dubai? - Yes, ma'am.
- You made a revenue of 21 crores in it? - Yes.
- And, a gross margin of 50-60%. - So, what happened to it?
One of our biggest clients used to account for 70% of our revenue
and, he strategically acquired us.
I was almost 17. It was a 1-1.5 million dollar exit.
And... yes, that has been my journey.
You made a revenue of 2.5 million, but
you sold it for 1-1.5 million dollars?
Ma'am, so, it was 70% revenue coming from a single client.
How much did you make?
- 1.5-2 million. - 12 crores!
No, it was around 15-16.
What happened next?
Sir, after that, I felt...
I feel, knowledge and education are two very different things.
So, I did leave...
I did private schooling, and for 12th grade, I went to college.
I've always loved to read. I never make a lot of...
I mean, I always focus on very deep work.
Kunal loves Swami Vivekananda, so, I've...
He says, 'Rise, awaken, and don't sleep...'
'till you don't achieve your goal.'
So, I guess, I'm really moving towards attaining that goal.
My god!
Okay, tell us about your current business now.
Nexera's beginning...
and commercialisation began this year in June.
so, I started a podcast.
It said, 'hey, we are launching this podcast.'
'Can you please come on the podcast and'
'give your insights?' So, we started inviting them.
I took them in my podcasts
and then, we would send a sales intern by mistake.
'Hi, sir. Pleasure to meet you. Can I also discuss my product with you?'
And then, we would line the call up, and then, a paid demo
and that's how, we would convert them.
My god.
Himanshu, tell me something.
- How is a CFO connected to health? - Sir, budget approval.
But, a CFO...
should see some value too.
- Sir, that's why... yes. - CHRO will clearly see the value.
- But, what value will a CFO see? - Cost, sir.
How?
Basically, if you use a single platform
we become a supermarket for them.
We have all the service providers, so, we get the best cost.
And, we can give them the best cost.
Tell us a little about your services.
What are they using? It's confusing.
Shall I show you a demo?
Yes, show a demo.
So, we'll begin with consultation.
Here, they can schedule consultations with doctors.
We have top-notch doctors from across different industries.
but, you can see past reports too, making it easier for you to access
Uh, we have some of the top...
One second. Do you answer questions, or do you just...
Sir asked me who made the technology.
So, I'm saying that we have a top-notch technology team.
- They made it. Yes, sir, sorry. So sorry. - No problem.
- Is the demo done? - Yes, sir. This was the demo.
These service providers, the consultants and doctors on this
- are on your rolls, or... - We work on a very operation-like model.
Like, the diagnostics and daily health team is in-house.
How many employees do you have in your team?
Sir, we have a 17 people full-time employed team.
- But, honestly, Himanshu, my question earlier. - Yes, sir.
- Why will a CFO find this proposition attractive? - Yes, sir.
That wasn't clear even after the demo.
So, basically, they need ROI.
They have simple expectations.
'I pay a 1 lakh salary to my employee'
'So, I need work done worth 1 lakh.'
'I don't care about your health.' That's the ground reality.
So, how can we have multiple KPIs integrated across the platform
that show that if your employee did work worth Rs. 10
by paying us Rs. 1, he may work worth Rs. 13.
So, how do you deduce ROI?
Our KPIs track employees on five key aspects.
If I ask you, do you have a company in your mind for end-to-end?
- You can't think of one. - Because, we don't need any.
Like, Practo, for example, it's not in enterprise.
It's not in enterprise.
Consider MediBuddy, for example.
That can be one of our competitors. Talking about mental health
MindPeers is an example, YourDOST is another.
So, there are services for different segments
- not a singular one. - I disagree.
There are a lot of platforms.
Nobody is able to focus on preventive care or, on habit building.
They have a platform where end-to-end is available.
I'm taking a service. Now, I will reach out to them
that I need ambulance service.
Or, I need this service.
So, they'll link me to their partner.
Where, there won't be much quality assessment.
But, the fact that companies like have scaled so much?
- They must have quality, good on-boards. - They've not, ma'am.
Only then, the company has this valuation...
I feel, they've not. Amidst 1.4 billion Indians
if you build a 5 billion company, I don't consider it a large scale.
Healthcare is the biggest industry in this country.
And, if you're stuck at 5 billion
you've not really made it in this industry, to be honest.
Tell me something. You said, you do podcasts.
- When did you start podcasts? - It's been 2 months.
Sales? He's asking about podcasts.
- Why are you going to sales? - Sorry, okay.
We began the podcasts 2 months ago.
Whom did you bring?
2-3 different CFOs.
And, in these four months, you already got business too?
- Podcasts will bring business now. - Where did you get business from?
- Outbound, pure outbound. - So, why did you mention podcasts?
Because, you said, CFOs, CHROs...
Listen, on one side is a story, a narrative.
Story-telling, which you are excellent at.
- Sorry, I mean... - No, you said, podcasts have...
brought you business.
But, now you say, they haven't, they will in the future.
So, ma'am, I will just explain.
- Can you just drop the narrative for some time? - Okay, sure.
- I'm really sorry... - Himanshu, tell me something.
- You said, you did a revenue of 4.5 crores since June. - Yes, sir.
What are the companies primarily paying for?
2.4 crores is coming from the preventive part.
1.5 crores is from the diagnostics part.
And then, the remaining 50 lakhs is coming from the tele-health.
Which company is it?
HDFC is the biggest bank.
The largest client we are serving today is a company called QUAS.
It's a Hong Kong headquartered company.
We're serving its 3500 employees.
Himanshu, show us your website.
[tense music playing]
What do you do with AWS?
Sir, we have a partnership with them.
So, we have not written clients, we've written partners.
- So, it helps with building more... - Trust.
- How are they a partner?
AWS has given us credits and
empowered under a start-up initiative.
Scroll back up for a minute.
- I have a question. - Yes, sir.
- Stop for a minute. - Yes, sir.
Look, what it says here...
- You say, they are your partners. - Yes.
- On the other side... - It says, 10,000 employees.
But, it says, trusted by 10,000 employees across the world.
So, if anyone sees this...
they'll feel that all of them
are your customers, whose employees are using it.
- Isn't that right? - Yes, my bad.
No, very bad.
Why did you do that?
Sir, this is a new website.
- To be honest, we made it 2 days before Shark Tank. - What?!
- No, no, no. - Just a second!
When did you start it?
No, the new website, with better designs.
Only for Shark Tank?
We improved the design, sir, that's all.
How many employees are actually using your service?
Actually using it?
We serve 6500 overall. We have month-on-month retentions...
- But, why have you written trusted by 10,000 employees? - 11,000.
It's 11,000.
- This is... - Look, Himanshu.
- Sorry. - Trust is a big word.
- Yes, sir. - It has to be earned and it is lost very easily.
- No, I'm really sorry. This was a mistake... - No, not sorry.
This is a misrepresentation.
You are selling a healthcare service to companies.
- What can be a more trusted service than that? - Absolutely, sir.
- Yes, yes. - And...
on the home screen...
on the very first page, the trust is broken.
I'm really sorry, sir.
Let me give you my perspective.
I mean, all this is already available in the market.
My second bigger issue is, when I...
took the names of 2-3 competitors
you were a little dismissive about it.
I think, you have to be paranoid
about your competition if you want to survive.
You cannot just be dismissive.
So, at this point...
I didn't find anything unique about your business.
And, for that reason, today I'm out.
Himanshu, the funds...
as investments that you want from us.
Should we give it for your 2-month-old business,
for being a smart entrepreneur and selling 2 businesses,
or for being a 19-year-old who's starting a business?
Sir, my father says that nothing is black and white.
There is a grey area in between.
It's the ideal combination of everything, I feel.
Give it for all of it.
Base it on a balance of everything.
But, you have 15 crores.
This is 75 lakhs. We can give this to the founder
of another company, who has no money.
I'm not just here for money.
I can raise a much larger round out there.
- But, it's more about being with you guys for... - Just a second.
You say, you can do a bigger round outside. Why didn't you do it?
We have got term sheets, ma'am.
- We've had direct offers before. - So, show us the term sheets.
Ma'am, that offer was, 1 million at 4 million.
It was around 2-3 months ago.
- Who sent it? - Sir, it was a Shanghai based family office.
Okay, very very impressive journey so far.
But, sometimes, there's a very important moment, when you...
It's called, release the agenda.
You plan everything that you want to say.
And, you get so obsessed with your narrative, your story
that then, your brainpower that has to go into listening
and answering is gone.
The moment you came, you displayed your story.
Your product, comprehensive solution, convincing the CFO
the CHROs, amazing sales, so many quotes.
We use MindPeers, YourDOST etc. for mental health.
And, someone else for insurance.
And, maybe, other companies for diagnostics, ambulances etc.
Why all this is needed in one place, and, what that solves.
I still haven't understood.
Good luck, I'm out.
- Thank you, good luck. - Okay, Himanshu.
Fundamentally...
I think, currently, this is a nice-to-have business.
And, perhaps the starting point of a business like this
should be with health insurance.
Like, we are investors in an
insurtech company that sells healthcare.
- They sell health care insurance, Nova. - Yes, of course.
So, they provide some such services too.
It may not be their focus
but, their entry point is always healthcare insurance.
So, they get entry everywhere.
I'm out today.
But, my support and wishes are always with you.
Thank you so much.
So, Himanshu, maybe...
At 19, you built three companies, I was still starting.
You built three businesses, you generated 25-30 crores
cash in hand.
I can honestly tell you, I was nowhere near
as well-spoken and clear as you at the age of 19.
So, firstly, congratulations to you for doing a great job to get here.
Today, I felt, you seemed to be in a hurry.
- I was really conscious, and... - You said 2-3 times...
I'm really sorry.
You said 2-3 times, 5 million is not much.
Look, when we're young and have big dreams
it is a good thing.
But, it always takes time to achieve them.
Absolutely.
Today, if we were not on Shark Tank
and, I had to choose the most
potential future founder
maybe I would have tried to support you without a thought.
If I'm unable to support
individuals like you,
then it would not be right for me to have seen through this journey.
I would love to try and find a way to meet you outside.
We have some initiatives where we support entrepreneurs like you. We can do that.
But unfortunately, your business
did not attract me. That's why I'm out.
- But I really wish you all the very best. - Thank you so much.
I think the successes that you've had,
were right.
There is a slight... I won't use the word arrogance,
that's not the right word,
but there is a hangover
which is slightly visible in this.
If you would have come here
as a person,
as a 19-year-old.
there would be a 75 per cent chance that I would support you.
I love supporting young guys.
You said that you sold one business.
I was there.
Do you know where you lost me?
In that hangover pill.
When you said, 'I'll get it outside, but I've still come here.'
'I got a term sheet from China. But due to India-China relations, we didn't do it.'
'I keep doing the podcast'
'and because of the podcast, I got business.'
But we found out that you did not get the business.
Am I right?
I will definitely take that and work on that.
I'm absolutely right. This is happening.
The hangover of the previous two businesses,
don't take it into this.
- I feel if I have your mentorship I will really... - Have a little...
You will not get my mentorship in this now.
Because I think you have to learn it on your own.
Bring some change in your thinking.
There is a little overconfidence.
I'll be out.
- Thank you, Himanshu. - Good luck. - Thank you. - You were fantastic.
- Thank you so much. - God bless you. - Wish you all the best.
[music playing]
[upbeat music playing]
Welcome to ACKO Change Makers
where we really welcome change.
We saw it portrayed beautifully over here on this change makers wall.
With the help of rising digital growth, we are making the legacy of a new culture.
And today's change maker, Himanshu, is with us.
You are bringing a very good change.
Every person gives 1/3 of their time
in their office.
This leads to an increase in stress. People are finding it tough
to manage their work-life balance.
You are not just finding a solution for it, but guiding people too.
Please tell our audience who are at home,
what changes they can bring in their daily life
so that they can better manage their mental health or stress.
Mental health and physical health are directly related. So first
you should have an avenue where you can express your emotions.
Or you could talk to a friend
or do journaling. Diary writing is quite a good avenue.
Secondly, doing some physical activity is an important aspect.
- Hmm. - Thirdly, they can watch videos of comedians like you. It'll do good.
I have found this guy today.
- You've already improved my mental health. - Welcome.
Thank you so much for the answer. You've brought a very good change.
Just like ACKO is transforming
the insurance landscape with their revolutionary offering.
Don't worry if your car breaks down midway.
You get roadside support with ACKO insurance
and real-time updates of car repairs.
We appreciate the change that you have brought.
We'd like to give you a gift
for your time on Shark Tank, on behalf of ACKO and Shark Tank.
[music playing]
Thank you.
When Sharks make the deals, only the pitchers don't benefit
but you also get a chance.
A golden opportunity.
I'm a very good host. I'm giving you the inside information.
What are you waiting for? Go.
Either Lenskart.com or check the Lenskart app.
'Ask the Shark.'
for today's shark.
I took 107 flights last year.
You can imagine how much I would have spent on hotels.
If you can sweetly sponsor my stays everywhere,
you have a global business.
- I think both of us travel frequently by air. - Hmm.
The difference is I get hotels
and holidays homes free of cost, across the world.
We will enable you too.
So, we have to just find an airline partner
- who is sweet enough to sponsor us. - Yes.
Find an airline shark.
On the next season of Shark Tank
we will surely get to see an airline partner.
Ritesh, many people have sent questions for you.
Today's question is from Sarthak,
he's 22 years old and from Baroda, Gujarat.
According to me, if you look at the businesses,
they have been made very technical these days.
Too many jargons are used. Like, 'Seed' and 'Series A,' etc.
Whatever we are seeing,
don't pay too much attention to the jargon, work on your business
and the others will teach you the jargon.
But the specific answer to your question
is that,
'Seed' means your business is in a very early stage.
Just like a seed, which has just been sown
without knowing if it will sprout, but you have the faith that it will.
Because of that reason, the investment will be very risky.
And investors try to ask for more ownership.
On the other hand, there are 'Series A.' In this,
your company has made the basic product fit into the markets.
Your numbers are increasing, profit is increasing
and if not,
then your product or software has relatively become mature.
Because of this, people invest in your numbers.
You've become a plant now.
So chance of becoming a tree is substantially greater.
I think I've explained about 'Seed' and 'Series A'
in the simplest of ways.
- I have a follow-up question if you'd like to answer. - Please.
When we go to business schools, like I did, a lot of business lingo is taught,
in theory, but,
do you think you learn more on the job or while executing
than actually going to a formal business school?
I have a genuine belief.
One should never let a university
interfere with education.
Oh, that's a good line.
- They are Mark Twain's words. - Hmm.
and ask your questions, choose your favourite Shark
and we'll be happy to address them.
Thank you.