1 00:00:15,000 --> 00:00:17,440 [theme music] 2 00:00:23,360 --> 00:00:24,680 [music intensifies] 3 00:00:31,280 --> 00:00:34,920 'The dynamic Shark Tank panel is set to become even more powerful ' 4 00:00:35,280 --> 00:00:36,320 'with the arrival of Kunal Bahl,' 5 00:00:36,600 --> 00:00:39,320 'co-founder of Snapdeal and Titan Capital.' 6 00:00:39,400 --> 00:00:41,560 [music playing] 7 00:00:44,000 --> 00:00:47,080 BL Fabric. Okay, it's a fabric company. 8 00:00:47,520 --> 00:00:49,600 Or do they do custom stuff? 9 00:00:50,280 --> 00:00:53,000 - There are swatches placed in the background. - Yes, that's what. 10 00:00:53,600 --> 00:00:55,040 This is a custom lehenga. 11 00:00:55,160 --> 00:00:57,000 Look at that 'Guess the price.' 12 00:00:57,080 --> 00:01:01,000 He will come and say this will cost Rs. 2,500, they are that cool. 13 00:01:03,000 --> 00:01:06,080 Has Manyavar started the women's segment also? 14 00:01:06,320 --> 00:01:07,680 - Long back. Mohey! - Yeah! It's called 15 00:01:07,800 --> 00:01:09,200 - Mohey! - Mohey! Correct. 16 00:01:09,400 --> 00:01:13,200 They've started a premium collection too, Namita. Twamev! 17 00:01:13,280 --> 00:01:15,800 - Which company? Is it... - Manyavar. If I remember correctly. 18 00:01:15,880 --> 00:01:17,360 [theme music playing] 19 00:01:21,640 --> 00:01:23,680 [music playing] 20 00:01:36,520 --> 00:01:37,640 Hello, Sharks. 21 00:01:37,720 --> 00:01:40,320 - My name is Mayur. I am from Surat, Gujarat. - I knew it. 22 00:01:40,440 --> 00:01:42,320 Today, we will play an interesting game. 23 00:01:42,800 --> 00:01:45,920 And you have to guess the price of the blue lehenga. 24 00:01:46,720 --> 00:01:49,040 And you will get a chance to take this lehenga home. 25 00:01:49,160 --> 00:01:51,200 - Oh! - But I am sure... 26 00:01:56,880 --> 00:02:00,680 The one whose guess is closest to the actual price will be the winner. 27 00:02:02,120 --> 00:02:04,120 Before you guess, let me tell you 28 00:02:04,240 --> 00:02:05,680 that this is a trendy design. 29 00:02:05,760 --> 00:02:07,880 Wearing this, you'll leave a lasting impression wherever you go. 30 00:02:08,320 --> 00:02:10,040 - Really? - Especially, Aman. 31 00:02:10,160 --> 00:02:12,640 It has the finest quality embroidery and sequin work. 32 00:02:13,120 --> 00:02:14,640 It has detailed work. 33 00:02:14,800 --> 00:02:16,560 So, let's start the guessing game. 34 00:02:16,640 --> 00:02:18,400 - Awesome. - You start, Mr. Kunal. 35 00:02:19,640 --> 00:02:20,600 Rs. 3,000. 36 00:02:21,400 --> 00:02:22,640 It's your turn, Ms. Vineeta. 37 00:02:22,720 --> 00:02:25,200 I have to win this lehenga. So, I'll guess a lower price. 38 00:02:27,200 --> 00:02:28,800 - Rs. 1,800. - Okay! 39 00:02:45,760 --> 00:02:47,400 - You won this lehenga, Mr. Kunal. - Thank you. 40 00:02:47,480 --> 00:02:49,800 Wherever you wear this lehenga, you'll make an impression. 41 00:02:49,920 --> 00:02:51,120 - He has guaranteed it. - But... 42 00:02:51,200 --> 00:02:53,520 Vineeta, I'll gift it to you. 43 00:02:53,600 --> 00:02:55,080 - Okay! - [Namita laughing] 44 00:02:55,160 --> 00:02:57,680 This lehenga is from my brand BL Fabric. 45 00:02:58,200 --> 00:03:01,960 We sell designer lehenga choli on our website. 46 00:03:14,600 --> 00:03:16,760 - Deepu Didi. - You can also get them customised. 47 00:03:16,840 --> 00:03:18,920 These pieces are produced in-house. 48 00:03:19,440 --> 00:03:20,800 I used to be a one-man army. 49 00:03:20,920 --> 00:03:22,720 I used to design and stitch. 50 00:03:22,800 --> 00:03:24,760 Now, we are a team of 25 people 51 00:03:24,840 --> 00:03:27,120 managing over 200 designs. 52 00:03:27,480 --> 00:03:29,080 We have a network of over 53 00:03:29,280 --> 00:03:31,200 - 30 lakh followers on Instagram and YouTube. - Whoa! 54 00:03:31,480 --> 00:03:33,760 30 lakhs? 3 million? 55 00:03:33,840 --> 00:03:35,000 Yes, 3 million. 56 00:03:35,440 --> 00:03:38,120 In just three years we have been able to give over 65,000 57 00:03:38,280 --> 00:03:40,120 ladies their desired look. 58 00:03:40,680 --> 00:03:42,680 I want this number to keep growing. 59 00:03:42,880 --> 00:03:46,520 So, my ask is Rs. 1 crore in exchange for 2% equity. 60 00:03:46,720 --> 00:03:47,600 - Oh! - So, Sharks! 61 00:03:47,680 --> 00:03:49,320 This lehenga is quite affordable. 62 00:03:49,640 --> 00:03:52,160 - Hmm! - Welcome to Shark Tank. 63 00:03:52,280 --> 00:03:55,400 - Thank you! - You have such a vibrant look. 64 00:03:55,480 --> 00:03:57,000 It's made from the leftover fabric of the lehenga. 65 00:03:57,840 --> 00:03:59,600 How much does your outfit cost? 66 00:03:59,760 --> 00:04:00,960 This one is for Rs. 10,000. 67 00:04:01,160 --> 00:04:03,880 Okay! Your pitch was interesting. 68 00:04:03,960 --> 00:04:05,520 You said Deepu Didi and who else? 69 00:04:05,600 --> 00:04:07,160 - Deepu Didi was funny. - Alu Ma'am. 70 00:04:07,440 --> 00:04:08,920 - What? - Alu Ma'am. 71 00:04:09,040 --> 00:04:10,880 - Who is that? - Alia. 72 00:04:11,000 --> 00:04:14,800 You referred to Alia as Alu Ma'am! 73 00:04:19,600 --> 00:04:22,360 I completed my graduation in 2015. 74 00:04:22,440 --> 00:04:25,200 And then I tried getting into business. 75 00:04:25,280 --> 00:04:27,040 I was working offline. 76 00:04:27,120 --> 00:04:30,520 - Was it fabric related? - Yes, but in the garment industry. 77 00:04:30,680 --> 00:04:34,280 I joined him and took his product online. 78 00:04:34,440 --> 00:04:38,080 In 2020, I quit working with my brother 79 00:04:38,160 --> 00:04:39,800 and started BL Fabric. 80 00:04:40,000 --> 00:04:42,040 How did you come up with the name BL Fabric? 81 00:04:42,120 --> 00:04:43,400 My brother's company 82 00:04:43,480 --> 00:04:44,840 was called Bipolar Life Enterprise. 83 00:04:44,920 --> 00:04:46,560 I shortened it to BL. 84 00:04:53,760 --> 00:04:54,800 So, ask him! 85 00:04:59,000 --> 00:05:00,440 Our focus is on semi-stitched garments. 86 00:05:00,560 --> 00:05:02,000 The customer will 87 00:05:14,120 --> 00:05:16,320 - does that come with it or is it separate? - It's with it. 88 00:05:16,520 --> 00:05:18,040 [music playing] 89 00:05:19,800 --> 00:05:21,880 Do you sell ready-made outfits 90 00:05:21,960 --> 00:05:24,440 with cancan for Rs. 3,800? 91 00:05:24,520 --> 00:05:25,480 No, not ready-made. 92 00:05:25,560 --> 00:05:27,880 - The material. - If you want to stitch it, 93 00:05:28,040 --> 00:05:29,400 you have to pay Rs. 1,000 extra. 94 00:05:29,480 --> 00:05:32,360 Still not bad. The total is Rs. 4,600. 95 00:05:51,920 --> 00:05:53,680 - Material. - They need to stitch 96 00:05:53,800 --> 00:05:55,280 the lehenga according to their measurements. 97 00:05:55,520 --> 00:05:57,720 - Yes! - The lehenga will be semi-stitched 98 00:05:57,920 --> 00:06:00,040 - and the blouse will be unstitched. - Unstitched! Because... 99 00:06:00,120 --> 00:06:01,720 - The dupatta will be ready-made. - They can stitch 100 00:06:01,800 --> 00:06:03,000 as per their liking. 101 00:06:03,080 --> 00:06:06,040 - Not everyone prefers our pattern. - Hmm! 102 00:06:06,160 --> 00:06:07,680 We send them a chart 103 00:06:07,760 --> 00:06:09,480 - with measurements... - You will stitch it for them. 104 00:06:09,560 --> 00:06:11,600 - Both options are available. - That's right. 105 00:06:11,760 --> 00:06:13,720 Mr. Mayur, when did you start? 106 00:06:13,800 --> 00:06:15,680 I started this business in 2021. 107 00:06:15,760 --> 00:06:17,040 How do you sell your products? 108 00:06:17,240 --> 00:06:18,800 All our sales are made on our website. 109 00:06:18,880 --> 00:06:21,560 You mentioned that you have 30 lakh followers on Instagram. 110 00:06:21,640 --> 00:06:23,360 It's the total of Instagram and YouTube. 111 00:06:23,480 --> 00:06:24,600 How many followers are on Instagram? 112 00:06:24,760 --> 00:06:26,160 I have 8 lakh followers on Instagram. 113 00:06:26,400 --> 00:06:28,400 Could you show us your viral video? 114 00:06:28,480 --> 00:06:30,080 [music playing] 115 00:06:30,880 --> 00:06:34,160 Have you received the YouTube Gold Play Button? 116 00:06:34,280 --> 00:06:36,200 Yes! I have 2.2 million followers there. 117 00:06:36,320 --> 00:06:37,240 2... 118 00:06:37,400 --> 00:06:40,440 Hold on! How many? 2.2 million followers? 119 00:06:40,880 --> 00:06:41,920 Yes. 120 00:06:42,800 --> 00:06:43,800 Wow! 121 00:06:43,880 --> 00:06:46,280 Do you teach how it's made? 122 00:06:46,600 --> 00:06:49,320 No, I show them the process of how it's made. 123 00:06:51,080 --> 00:06:52,400 How many views does this have? 124 00:06:52,640 --> 00:06:54,200 47 million. 125 00:06:54,280 --> 00:06:55,120 What? 126 00:06:55,200 --> 00:06:56,240 47 million? 127 00:06:56,320 --> 00:06:59,040 - 47 million views. - No, it must be 47,000. 128 00:06:59,160 --> 00:07:00,120 No, 47 million. 129 00:07:00,200 --> 00:07:02,000 There are more than 1 million likes. 130 00:07:02,080 --> 00:07:04,440 - 1.6 million likes. - Is he serious? 131 00:07:05,400 --> 00:07:06,640 Please check. 132 00:07:06,760 --> 00:07:08,400 Yes, 47 million views. 133 00:07:09,400 --> 00:07:10,800 Oh my God! 134 00:07:11,360 --> 00:07:14,040 3 million, 1.2 million, 2.2 million. 135 00:07:14,240 --> 00:07:15,440 You are amazing. 136 00:07:22,360 --> 00:07:23,400 What is working? 137 00:07:23,680 --> 00:07:24,760 What do you mean? 138 00:07:24,960 --> 00:07:26,640 How is this happening? 139 00:07:26,720 --> 00:07:29,040 How are you doing this? 140 00:07:29,560 --> 00:07:32,400 People love the videos where I show the process. 141 00:07:32,560 --> 00:07:35,880 - Most of them like to see how it's made. - Okay. 142 00:07:36,000 --> 00:07:37,760 Could you show us your YouTube page? 143 00:07:38,640 --> 00:07:40,240 Which video is popular here? 144 00:07:40,480 --> 00:07:42,640 - Show us the comments. - We never get negative comments 145 00:07:42,720 --> 00:07:45,640 - to date. - Beautiful! So talented. Sir, you've got mad skills. 146 00:07:47,160 --> 00:07:49,440 - Are you a trained tailor? - Yes. 147 00:07:49,600 --> 00:07:52,760 - Do you showcase the process of how it's made in your videos? - Yes. 148 00:07:53,320 --> 00:07:56,840 I am going to start making long videos. 149 00:07:57,040 --> 00:07:58,120 I will gradually upload them. 150 00:07:58,240 --> 00:08:00,320 - I used to review earlier. - Okay. 151 00:08:00,440 --> 00:08:02,760 Did you teach yourself, or did you learn by observing someone? 152 00:08:02,840 --> 00:08:04,080 - Did you do a course? - I taught myself. 153 00:08:04,160 --> 00:08:07,080 - No! - You learnt to do this on social media on your own. 154 00:08:07,160 --> 00:08:08,560 - Yes, I did. - Amazing! 155 00:08:08,720 --> 00:08:10,200 What are your qualifications? 156 00:08:10,280 --> 00:08:12,320 - Bachelor of Engineering. - In which year? 157 00:08:12,480 --> 00:08:13,960 I completed it in 2015. 158 00:08:14,040 --> 00:08:16,080 - After that, you started working with your brother. - Yes. 159 00:08:16,280 --> 00:08:19,360 Amazing! You should be proud of what you've achieved. 160 00:08:20,520 --> 00:08:23,520 Could you share your revenue for the last three years? 161 00:08:23,600 --> 00:08:26,680 You started in 2021, so tell us about the revenue from FY22 onwards. 162 00:08:26,920 --> 00:08:30,320 In FY21-22 we made sales of Rs. 1.42 crores. 163 00:08:30,840 --> 00:08:33,680 In FY22-23, Rs. 1.85 crores. 164 00:08:34,360 --> 00:08:37,480 And FY23-024, Rs. 5.25 crores. 165 00:08:37,600 --> 00:08:38,680 What led to such a significant increase? 166 00:08:38,760 --> 00:08:41,720 I started making content and increased SKUs. 167 00:08:41,800 --> 00:08:44,280 - Oh! - How much did you make in the first six months this year? 168 00:08:44,400 --> 00:08:46,200 - Rs. 5 crores. - Now that it's the season, 169 00:08:46,320 --> 00:08:48,400 - what will the total be for the entire year? - Around 18 crores. 170 00:08:48,520 --> 00:08:50,920 How many people on your team handle social media? 171 00:08:51,440 --> 00:08:52,400 I handle that myself. 172 00:08:52,480 --> 00:08:55,080 Are you making all the content by yourself? 173 00:08:55,160 --> 00:08:57,280 - Fire your team, Vineeta. - I think so. 174 00:08:57,360 --> 00:09:00,520 Seriously! How often do you post content in a month? 175 00:09:00,680 --> 00:09:02,720 I post around 20-25 pieces of content per month. 176 00:09:02,840 --> 00:09:04,200 - Around 25? - Wow! 177 00:09:04,840 --> 00:09:07,560 Do you edit and upload by yourself? 178 00:09:07,640 --> 00:09:09,320 I have someone to record my videos. 179 00:09:09,640 --> 00:09:11,320 - Okay, there is someone to record you. - Yes. 180 00:09:11,400 --> 00:09:12,920 - And then... - I edit the videos. 181 00:09:13,040 --> 00:09:13,880 - You edit them. Good! - Yes. 182 00:09:20,240 --> 00:09:23,200 And then we have this man. Look at him! 183 00:09:23,280 --> 00:09:24,440 Amazing! 184 00:09:24,920 --> 00:09:26,600 Aman is right. 185 00:09:26,880 --> 00:09:29,200 In Emcure Nutraceutical, 186 00:09:29,280 --> 00:09:31,600 - we have a team that makes content. - Yes. 187 00:09:31,680 --> 00:09:33,640 - And we have a team that makes videos. - Yes. 188 00:09:33,800 --> 00:09:36,960 The third team figures out what, where and when to upload. 189 00:09:37,040 --> 00:09:38,680 - There are agencies. - Yes. 190 00:09:38,760 --> 00:09:41,720 And you are doing everything by yourself. 191 00:09:41,800 --> 00:09:43,840 20 content pieces per month. 192 00:09:44,040 --> 00:09:46,400 - Yes. - And you doubled your revenue because of it. 193 00:09:46,600 --> 00:09:49,480 - From Rs. 2 crores to Rs. 5 crores to Rs. 17 crores. Superb! - Yes. 194 00:09:51,760 --> 00:09:54,720 Mr. Mayur, could you tell us 195 00:09:54,800 --> 00:09:56,240 whether you are in profit or loss? 196 00:09:56,320 --> 00:09:57,560 - What sort of question is that? - I am making a profit. 197 00:09:57,640 --> 00:10:00,520 - Hello, have you been to Surat? - I know. But I have to ask. 198 00:10:00,600 --> 00:10:03,920 In FY21-22, 199 00:10:04,320 --> 00:10:06,080 we made a profit of 4%. 200 00:10:06,440 --> 00:10:09,200 - Nice. - In FY22-23, our profit was 5%. 201 00:10:09,440 --> 00:10:12,800 In FY23-24, our profit was 3%. 202 00:10:13,000 --> 00:10:14,240 What is it now? 203 00:10:14,600 --> 00:10:16,360 Currently, our profit is 10%. 204 00:10:17,160 --> 00:10:18,440 Seriously! 205 00:10:18,560 --> 00:10:20,920 There's no business where everything runs smoothly all the time. 206 00:10:21,000 --> 00:10:23,320 - Every business has some challenges. - Yes, definitely. 207 00:10:23,440 --> 00:10:27,280 You mention a few challenges your business faces. I don't see any. 208 00:10:28,120 --> 00:10:29,320 Challenges... 209 00:10:29,680 --> 00:10:33,400 We do face challenges in business. 210 00:10:34,880 --> 00:10:36,880 But currently, I am not facing any challenges. 211 00:10:36,960 --> 00:10:38,640 [laughing] 212 00:10:39,320 --> 00:10:42,080 We offer so many designs. 213 00:10:42,200 --> 00:10:43,520 No boutique owner 214 00:10:43,600 --> 00:10:45,360 offers so many designs in a month. 215 00:10:45,440 --> 00:10:47,880 - How many new designs do you offer? - 25 designs. 216 00:10:48,040 --> 00:10:50,200 And at any given time, how many SKUs do you keep 217 00:10:50,320 --> 00:10:53,480 We maintain around 200-250 SKUs. 218 00:10:53,560 --> 00:10:56,120 Are all the customers buying semi-stitched products? 219 00:10:56,200 --> 00:10:57,800 - Yes. - How many of them are getting it customised? 220 00:10:58,240 --> 00:10:59,720 5% of customers opt for fully stitched products, 221 00:10:59,800 --> 00:11:01,680 while the rest buy semi-stitched ones. 222 00:11:02,440 --> 00:11:04,400 Explain the unit economics once. 223 00:11:04,480 --> 00:11:05,880 That lehenga is for 224 00:11:05,960 --> 00:11:07,720 - Rs. 3,799. - Yes. 225 00:11:08,680 --> 00:11:11,600 What is your cost of production, and how much do you spend on shipping? 226 00:11:11,920 --> 00:11:13,920 The cost of production is Rs. 2,400. 227 00:11:14,080 --> 00:11:17,160 And does that include tailors... 228 00:11:17,240 --> 00:11:18,480 It's inclusive of everything. 229 00:11:18,560 --> 00:11:20,640 How much do you spend on sourcing the fabric for that piece? 230 00:11:21,720 --> 00:11:22,800 It costs Rs. 60 per meter. 231 00:11:22,920 --> 00:11:25,040 - Okay! - I use 5 meters of fabric for this. 232 00:11:25,200 --> 00:11:27,960 - So, Rs. 300... - And the fabric for the dupatta 233 00:11:28,200 --> 00:11:31,600 costs Rs. 25 per meter and you need 2.25 meters of fabric. 234 00:11:31,680 --> 00:11:33,800 Okay! How much do you pay for shipping? 235 00:11:33,880 --> 00:11:36,240 Including RTO and everything, it's around Rs. 300. 236 00:11:36,440 --> 00:11:38,520 - Rs. 300. Do you accept returns from consumers? - Yes. 237 00:11:38,600 --> 00:11:40,600 - We do. - What percentage of products are returned? 238 00:11:40,680 --> 00:11:42,080 Around 3%-4%. 239 00:11:42,160 --> 00:11:43,680 How much are you spending per month on marketing? 240 00:11:43,760 --> 00:11:45,920 Last month 241 00:11:46,080 --> 00:11:48,720 I made a sale of Rs. 2.4 crores. 242 00:11:49,360 --> 00:11:51,360 I invested Rs. 13 lakhs in marketing. 243 00:11:51,440 --> 00:11:52,960 Where is the rest of the money going, Mr. Mayur? 244 00:11:53,040 --> 00:11:54,760 After deducting 245 00:11:54,920 --> 00:11:57,320 the making and shipping costs, you are left with Rs. 1000. 246 00:11:57,480 --> 00:12:00,680 But last year, your profit was 3%, that is Rs. 100. 247 00:12:00,760 --> 00:12:03,640 Where does Rs. 900 go after subtracting Rs. 100 from Rs. 1000? 248 00:12:04,440 --> 00:12:06,320 We are making more profit now. 249 00:12:06,400 --> 00:12:08,280 This year you are making 10%. How much was it last year? 250 00:12:08,360 --> 00:12:10,920 Last year, our net profit was 3%. 251 00:12:11,000 --> 00:12:14,080 Where did you spend 7% last year? 252 00:12:14,160 --> 00:12:15,760 What is your fixed cost? 253 00:12:15,840 --> 00:12:17,880 How much do you pay your employees in a year? 254 00:12:18,720 --> 00:12:21,840 I am paying Rs. 5 lakhs per month. 255 00:12:21,960 --> 00:12:24,080 - That's Rs. 60 lakhs. That's enough. - It's Rs. 60 lakhs. 256 00:12:25,360 --> 00:12:27,080 Tell me something, Mr. Mayur. 257 00:12:27,920 --> 00:12:31,280 What is your long-term vision for BL Fabric? 258 00:12:31,560 --> 00:12:34,040 I want to make it the most popular brand. 259 00:12:34,200 --> 00:12:35,960 You must have a specific number in mind. 260 00:12:36,720 --> 00:12:40,960 After 2-3 years, I want to make it a business of Rs. 100 crores. 261 00:12:41,920 --> 00:12:43,000 After that? 262 00:12:43,120 --> 00:12:44,160 Let's assume 263 00:12:45,000 --> 00:12:47,280 - that after 5-10 years... - Yes. 264 00:12:47,360 --> 00:12:49,680 - Where will you be? - At least around Rs. 1,000-Rs. 2,000 crores. 265 00:12:51,160 --> 00:12:55,080 So, women aged 18 to 40 266 00:12:55,320 --> 00:12:57,440 - are all buying your product? - Yes. 267 00:12:57,520 --> 00:12:59,360 Currently, women who don't have 268 00:12:59,480 --> 00:13:01,400 a tailor are unable to buy your products. 269 00:13:02,200 --> 00:13:04,080 The customers want ready-made clothes. 270 00:13:04,160 --> 00:13:07,720 But the return ratio goes up significantly. 271 00:13:07,800 --> 00:13:09,760 If there is a slight issue with the fitting, 272 00:13:09,960 --> 00:13:11,080 they will definitely return them. 273 00:13:11,160 --> 00:13:12,800 But that is not the customer's problem 274 00:13:12,880 --> 00:13:15,400 that your returns are more. That's your challenge as a business. 275 00:13:15,480 --> 00:13:17,160 - Yes. - So, how will you make 276 00:13:17,240 --> 00:13:20,080 this a Rs. 1,000 crore company by selling only semi-stitched clothes? 277 00:13:21,160 --> 00:13:22,560 I'll need to carry out a price analysis. 278 00:13:22,640 --> 00:13:26,240 Also, we will have to explain to the customer 279 00:13:26,400 --> 00:13:29,360 that they will have to alter in such cases. That is what can be done. 280 00:13:32,960 --> 00:13:36,400 When Ritesh asked about the challenges your company faces, 281 00:13:36,600 --> 00:13:39,800 I'd like to address what I see as your primary issue. 282 00:13:40,760 --> 00:13:43,720 - There is a word, keyman risk. - Yes. 283 00:13:43,840 --> 00:13:45,840 - When a person... - Good point. 284 00:13:45,920 --> 00:13:47,400 - Does everything by himself... - Yes! 285 00:13:47,480 --> 00:13:50,200 - Definitely. - It's very risky for an investor. 286 00:13:50,360 --> 00:13:53,000 - Right? Because... - Yes! 287 00:13:53,240 --> 00:13:56,480 By chance, if you go on a vacation for six months, 288 00:13:56,560 --> 00:13:57,600 what will happen to the business? 289 00:13:57,720 --> 00:13:59,360 We will be in trouble because you went on a vacation. 290 00:14:00,080 --> 00:14:03,120 You must have considered what you would do in such a situation. 291 00:14:03,800 --> 00:14:06,680 I want to hire a person who would handle this. 292 00:14:06,800 --> 00:14:08,160 I want to do that. 293 00:14:08,400 --> 00:14:09,280 So, you will hire someone. 294 00:14:09,360 --> 00:14:13,240 If one of you joins me, I will get to learn 295 00:14:13,320 --> 00:14:16,760 how to... For example, you mentioned 'keyman...' What was that? 296 00:14:16,840 --> 00:14:18,200 - Keyman risk! - Yes. 297 00:14:19,040 --> 00:14:22,040 I will learn if someone gives me proper guidance 298 00:14:22,120 --> 00:14:24,680 about what needs to be done and which team to hire. 299 00:14:24,960 --> 00:14:27,800 Only then, I will be able to grow. I need some guidance. 300 00:14:27,960 --> 00:14:30,600 Mr. Mayur, the scale you're operating on right now... 301 00:14:30,760 --> 00:14:31,680 - Yes. - Right? 302 00:14:31,920 --> 00:14:34,040 Don't take money from investors now. 303 00:14:34,120 --> 00:14:35,680 Don't get into that. 304 00:14:36,120 --> 00:14:37,520 That is my advice to you. 305 00:14:38,520 --> 00:14:41,360 - But for today, I think it's too early for me. - Yes. 306 00:14:41,440 --> 00:14:44,720 - And a little risky also because of the team. - Yes. 307 00:14:44,880 --> 00:14:46,880 - For that reason, I am out. - Thank you. 308 00:14:48,000 --> 00:14:52,000 Mr. Mayur, the only doubt I have is that, 309 00:14:52,080 --> 00:14:56,560 - while consumers use their brains to think, 310 00:14:56,640 --> 00:14:58,880 - but they shop from their hearts. - Yes. 311 00:14:59,120 --> 00:15:00,240 They won't sit and do the math. 312 00:15:00,320 --> 00:15:04,280 They won't care how much they are buying it for, they just buy it. 313 00:15:04,360 --> 00:15:06,400 I know a lot of them 314 00:15:06,480 --> 00:15:08,960 who will never buy semi-stitched on e-commerce. 315 00:15:09,040 --> 00:15:11,560 - Because they are getting it read-made in so many places. - Yes. 316 00:15:11,640 --> 00:15:14,880 The other challenge is, if you want to make a brand in the long term, 317 00:15:14,960 --> 00:15:16,680 there is something called operating leverage. 318 00:15:16,760 --> 00:15:20,400 Your gross margin has to be enough to invest in marketing 319 00:15:20,480 --> 00:15:22,680 to build a strong brand. 320 00:15:22,760 --> 00:15:26,520 - Your gross margin leaves you with just 30% to invest. - Yes. 321 00:15:26,720 --> 00:15:29,560 Because your gross margin is low. 322 00:15:29,640 --> 00:15:32,000 - This is a value game and not a brand game. - Yes. 323 00:15:32,080 --> 00:15:35,960 You might face a challenge in scalability. 324 00:15:36,320 --> 00:15:39,240 But I am sure you are 325 00:15:39,440 --> 00:15:41,920 an incredible entrepreneur. You'll figure out these challenges. 326 00:15:42,000 --> 00:15:44,640 But for me, it's not investable at the moment. So, best of luck. 327 00:15:44,720 --> 00:15:45,760 Thank you! 328 00:15:45,840 --> 00:15:49,520 Mayur, I believe you understand your business really well. 329 00:15:50,320 --> 00:15:54,520 I can help you with talent in business and capital management, 330 00:15:54,600 --> 00:15:55,960 but I won't be able to help with your business itself. 331 00:15:56,040 --> 00:15:57,200 You know your business best. 332 00:15:57,400 --> 00:16:00,240 I find your business interesting from an outsider's perspective. 333 00:16:00,320 --> 00:16:02,600 - So, I would like to give you an offer. - Okay. 334 00:16:04,880 --> 00:16:08,560 My offer is, I will give you Rs. 1 crore equity. - Okay. 335 00:16:09,160 --> 00:16:11,600 - Against 5% ownership. - Thank you! 336 00:16:12,600 --> 00:16:16,440 Mayur, meeting you, I felt like 337 00:16:16,520 --> 00:16:18,640 there was a stereotype... Do you understand what a stereotype is? 338 00:16:18,760 --> 00:16:19,760 There's a certain image 339 00:16:19,840 --> 00:16:22,720 in our country of what a startup founder is like. 340 00:16:23,560 --> 00:16:25,720 - Yes. - They typically go to IITs 341 00:16:25,800 --> 00:16:27,800 - or prestigious colleges. - Yes, right. 342 00:16:28,640 --> 00:16:30,760 - You're completely different from that image. - Yes. 343 00:16:30,880 --> 00:16:32,320 Maybe that's a good thing. 344 00:16:33,480 --> 00:16:35,760 Because founders like you 345 00:16:36,400 --> 00:16:39,480 inspire a generation of youth. 346 00:16:40,560 --> 00:16:41,920 In top schools, 347 00:16:42,000 --> 00:16:44,880 they teach all these great business principles 348 00:16:44,960 --> 00:16:46,840 and big words. 349 00:16:46,920 --> 00:16:48,760 They teach how businesses are made and so on. 350 00:16:48,840 --> 00:16:51,480 - They give different frameworks. - Yes. 351 00:16:51,840 --> 00:16:53,840 But you didn't need any framework. 352 00:16:54,600 --> 00:16:57,720 You just applied logic. 353 00:16:57,800 --> 00:17:01,640 You didn't care about the business others thought you should have. 354 00:17:01,720 --> 00:17:03,960 - You built the business you wanted. - Yes. 355 00:17:04,800 --> 00:17:05,960 I have an offer for you. 356 00:17:06,040 --> 00:17:07,960 Whoa! 357 00:17:09,000 --> 00:17:11,160 - Rs. 1 crore for 5%. - Okay! 358 00:17:11,720 --> 00:17:14,520 - Same as you, right? - I also offered the same. 359 00:17:15,520 --> 00:17:17,560 - I would've given you a deal. - Okay. 360 00:17:17,640 --> 00:17:19,680 But I think 361 00:17:19,760 --> 00:17:21,520 you already have good deals. 362 00:17:21,680 --> 00:17:23,640 - Okay! - I was considering a royalty deal. 363 00:17:24,760 --> 00:17:27,040 But I am out for now. 364 00:17:28,000 --> 00:17:29,960 You have two offers. You decide what you want to do. 365 00:17:30,040 --> 00:17:31,520 [music playing] 366 00:17:34,640 --> 00:17:36,880 May we negotiate? 367 00:17:36,960 --> 00:17:38,000 - Yes, please. - Of course, tell us. 368 00:17:38,080 --> 00:17:41,240 - You have the right to! - We will help you with negotiation. 369 00:17:42,240 --> 00:17:45,160 Can we close the deal for 3%? 370 00:17:45,240 --> 00:17:46,800 [music playing] 371 00:17:47,600 --> 00:17:49,400 - Good counter. - Who is this counter for? 372 00:17:49,800 --> 00:17:50,720 Both of them. 373 00:17:51,520 --> 00:17:53,040 What are you looking for? 374 00:17:53,120 --> 00:17:55,200 Do you want a better valuation 375 00:17:55,280 --> 00:17:57,160 or do you want more money? 376 00:17:57,240 --> 00:17:58,400 Compared to my sales, 377 00:17:58,480 --> 00:18:01,760 - I believe the value should be higher. - Perfect! 378 00:18:03,360 --> 00:18:06,520 - I want to give you credit for your growth. - Okay. 379 00:18:07,240 --> 00:18:08,480 But conditional. 380 00:18:08,560 --> 00:18:10,120 I will change my offer. 381 00:18:10,440 --> 00:18:11,840 [music playing] 382 00:18:12,760 --> 00:18:16,520 - I'll give you Rs. 1 crore for 4%. - Okay. 383 00:18:16,880 --> 00:18:18,880 But the condition is that if you achieve 384 00:18:18,960 --> 00:18:20,520 a revenue of Rs. 17 crores this year, 385 00:18:21,040 --> 00:18:23,160 even if you reach Rs. 15 crores, 386 00:18:33,680 --> 00:18:36,080 If you are interested 387 00:18:36,160 --> 00:18:38,000 - in partnering with me... - He is interested, Kunal. 388 00:18:38,200 --> 00:18:41,920 Then I will match Ritesh's offer. 389 00:18:48,840 --> 00:18:50,440 Can both of you do this together? 390 00:18:53,560 --> 00:18:56,080 Are you willing to accept Rs. 2 crores for 8%? 391 00:18:56,360 --> 00:18:58,040 Make it Rs. 50 lakhs each. 392 00:18:58,280 --> 00:18:59,720 - No... - Oh God! 393 00:18:59,800 --> 00:19:01,920 He is right. He doesn't want to give up too much equity. 394 00:19:02,200 --> 00:19:04,440 The percentage is less. 395 00:19:06,320 --> 00:19:08,440 Don't you want to go with just one Shark? 396 00:19:09,160 --> 00:19:11,760 It would be more beneficial if both of you joined. 397 00:19:13,720 --> 00:19:15,040 I believe it could turn into a big business. 398 00:19:15,120 --> 00:19:17,400 - Both of you go and discuss. Ritesh will agree. - We'll discuss. 399 00:19:19,040 --> 00:19:21,240 I am helping you close the deal. 400 00:19:21,600 --> 00:19:22,680 Come! 401 00:19:22,920 --> 00:19:25,200 He agrees. Kunal is new here. He gets scared. 402 00:19:25,840 --> 00:19:27,760 [laughing] 403 00:19:27,840 --> 00:19:31,200 - What did you say? - It will work if you talk. 404 00:19:31,720 --> 00:19:33,760 [laughing] 405 00:19:36,760 --> 00:19:37,680 Okay! 406 00:19:38,040 --> 00:19:39,880 We will both join you. 407 00:19:49,920 --> 00:19:51,200 We will discuss it with each other. 408 00:19:51,320 --> 00:19:52,760 - We might not have an equal share. - Okay. 409 00:19:53,000 --> 00:19:55,520 - I might have more share. - Okay. 410 00:19:55,640 --> 00:19:58,240 - That is between us. It won't make a difference to you. - Yes. 411 00:19:58,320 --> 00:19:59,160 The total will be the same. 412 00:19:59,240 --> 00:20:00,280 You have to say, 'deal accepted.' 413 00:20:19,560 --> 00:20:23,040 Mr. Kunal has expertise in logistics and e-commerce. 414 00:20:23,120 --> 00:20:25,560 He can easily help me with my business. 415 00:20:25,720 --> 00:20:28,680 And Mr. Ritesh will help me with ideas. 416 00:20:28,760 --> 00:20:31,120 He runs a wedding business. 417 00:20:31,200 --> 00:20:32,240 He could help me 418 00:20:32,320 --> 00:20:34,640 grow my business. 419 00:20:34,960 --> 00:20:38,520 They can also guide me. Which is why I finalised the deal. 420 00:20:39,280 --> 00:20:40,560 - Hello, Mayur. - Hello. 421 00:20:40,720 --> 00:20:42,920 Welcome to our PokerBaazi zone, where you hold the cards. 422 00:20:43,000 --> 00:20:44,920 - Okay, thank you. - Your pitch was impressive. 423 00:20:45,000 --> 00:20:48,520 - Thank you. - Poker and business have a lot in common. 424 00:20:48,600 --> 00:20:51,720 In both, you need to analyse your competition 425 00:20:51,800 --> 00:20:53,840 - and constantly sharpen your skills. - Yes. 426 00:21:19,760 --> 00:21:21,560 What cards form a royal flush, and what cards form a flush? 427 00:21:21,640 --> 00:21:22,480 Okay! 428 00:21:22,680 --> 00:21:24,400 First is strategy. 429 00:21:24,640 --> 00:21:26,000 Okay! Very interesting. 430 00:21:26,160 --> 00:21:28,440 - Strategy as a royal flush. - Quality assurance. 431 00:21:28,680 --> 00:21:29,760 - Okay! - Sales. 432 00:21:29,840 --> 00:21:31,000 Sales? Very interesting. 433 00:21:31,200 --> 00:21:33,360 - Operations and logistics. - Okay. 434 00:21:33,440 --> 00:21:34,960 And finance and accounting. 435 00:21:35,040 --> 00:21:36,960 - This is interesting. - Yes. 436 00:21:37,200 --> 00:21:38,840 Tell me something. 437 00:21:38,920 --> 00:21:40,400 You have an interesting strategy. 438 00:21:40,480 --> 00:21:42,560 - Because you chose strategy as a royal flush. - Yes. 439 00:21:42,680 --> 00:21:43,560 Why so? 440 00:21:43,640 --> 00:21:46,760 Because in the clothing business, strategy is key, 441 00:21:46,840 --> 00:21:51,240 whether it's designing, marketing, or sales. 442 00:21:51,320 --> 00:21:52,520 Everyone is making clothes. 443 00:21:52,640 --> 00:21:55,520 But no one can grow their business without a strategy. 444 00:22:20,440 --> 00:22:23,360 'Shark Tank India, co-presented by ACKO Insurance, 445 00:22:23,480 --> 00:22:25,520 'PokerBaazi and Swiggy Instamart.' 446 00:22:25,600 --> 00:22:28,240 'Co-powered by Adani, and Jaguar Bath and Light.' 447 00:22:28,320 --> 00:22:31,320 'And partners, Rayzon Solar, ICICI Direct, ' 448 00:22:31,440 --> 00:22:33,160 'Lenskart and Sofy.' 449 00:22:33,240 --> 00:22:34,960 [theme music playing] 450 00:22:54,640 --> 00:22:56,320 [music continues] 451 00:23:05,320 --> 00:23:06,120 Hi, Sharks. 452 00:23:06,200 --> 00:23:07,880 The world is shrinking. 453 00:23:08,080 --> 00:23:10,640 We have access to most of the things around the world, right? 454 00:23:10,720 --> 00:23:12,440 Whether it's the coolest hype 455 00:23:12,600 --> 00:23:15,080 or the most exclusive global luxury brands. 456 00:23:15,280 --> 00:23:18,240 Now, you don't have to call your aunt in America 457 00:23:18,480 --> 00:23:22,160 to buy sneakers, streetwear or handbags, right? 458 00:23:22,400 --> 00:23:24,960 Wrong! That's what you are made to believe. 459 00:23:25,640 --> 00:23:29,720 Even now, there are several loopholes in accessing 460 00:23:29,840 --> 00:23:32,120 the latest collections of luxury brands. 461 00:23:32,600 --> 00:23:35,200 Aman, we know you love finding deals. 462 00:23:35,480 --> 00:23:37,360 But according to our research, 463 00:23:37,480 --> 00:23:39,560 there is an 86% chance 464 00:23:39,680 --> 00:23:42,120 that whenever you've bought sneakers, 465 00:23:50,400 --> 00:23:51,480 or watch from a reseller, 466 00:23:51,560 --> 00:23:53,560 there's a 36% chance 467 00:23:53,640 --> 00:23:55,080 that it was counterfeit. 468 00:24:01,560 --> 00:24:05,760 We still have to call our aunt in America. 469 00:24:06,320 --> 00:24:07,360 But, Sharks, 470 00:24:07,480 --> 00:24:09,520 it's time for an upgrade. 471 00:24:09,640 --> 00:24:12,560 And to give India a full access pass 472 00:24:12,840 --> 00:24:14,360 to the largest collection 473 00:24:14,560 --> 00:24:17,720 from the coolest global hype and luxury brands. 474 00:24:23,080 --> 00:24:25,200 And we are building Culture Circle. 475 00:24:25,640 --> 00:24:29,200 India's premier marketplace for high-end and luxury fashion. 476 00:24:29,640 --> 00:24:32,280 You will find an authentic drip on Culture Circle 477 00:24:32,360 --> 00:24:35,560 across sneakers, streetwear, handbags, 478 00:24:35,680 --> 00:24:38,840 and honestly, whatever that's cool and in the culture. 479 00:25:00,920 --> 00:25:02,880 - Hmm! - And the secret behind our growth 480 00:25:20,160 --> 00:25:21,440 And our vision 481 00:25:21,560 --> 00:25:23,120 is to make Culture Circle 482 00:25:23,280 --> 00:25:26,840 globally the biggest, baddest and largest resale platform. 483 00:25:27,280 --> 00:25:31,480 And our ask is Rs. 1.2 crores for 0.5% equity. 484 00:25:31,560 --> 00:25:32,680 Phew! 485 00:25:32,840 --> 00:25:35,080 All right, bye. Have fun. Enjoy! 486 00:25:35,480 --> 00:25:38,240 Are you ready to join the Culture Circle? 487 00:25:38,640 --> 00:25:41,040 - The valuation is Rs. 240 crores. - Correct. 488 00:25:41,120 --> 00:25:42,720 Are we crazy? 489 00:25:43,480 --> 00:25:44,800 Okay. Devansh and Ackshay, 490 00:25:44,880 --> 00:25:47,080 - welcome to Shark Tank. - Thank you! 491 00:25:47,200 --> 00:25:49,000 Tell us about your journey. 492 00:25:49,080 --> 00:25:52,200 Devansh and I have been best friends for 14 years. 493 00:25:52,280 --> 00:25:55,280 We were in the same class and school. 494 00:25:55,520 --> 00:25:57,120 I studied Computer Science Engineering 495 00:26:08,120 --> 00:26:09,840 What background do you have beyond that? 496 00:26:10,120 --> 00:26:12,840 After Computer Science Engineering when Devansh opted for MBA, 497 00:26:13,000 --> 00:26:14,960 I chose a more non-conventional route. 498 00:26:15,040 --> 00:26:16,800 I started my investment journey in... 499 00:26:16,920 --> 00:26:18,360 I joined JITO. 500 00:26:18,440 --> 00:26:19,880 Which is a Jain International Trade Organisation. 501 00:26:19,960 --> 00:26:20,720 Very well known. 502 00:26:20,800 --> 00:26:23,640 I head Gurugram's vertical in JIIF. 503 00:26:23,760 --> 00:26:26,120 You said you chose 504 00:26:26,520 --> 00:26:28,720 - an alternate career. - Yes. 505 00:26:29,320 --> 00:26:32,600 Did you have the opportunity to join IIM Ahmedabad, 506 00:26:32,680 --> 00:26:34,640 - but chose not to? - I... 507 00:26:34,760 --> 00:26:35,960 I didn't appear for CAT. 508 00:26:36,760 --> 00:26:38,080 - Okay! - Exactly! 509 00:26:38,200 --> 00:26:41,520 - You didn't appear for CAT because... - Yes. 510 00:26:41,720 --> 00:26:42,960 You thought you couldn't crack it. 511 00:26:43,080 --> 00:26:45,720 No! I know I am smart. I didn't appear for CAT 512 00:26:46,200 --> 00:26:47,560 but I chose... 513 00:26:47,720 --> 00:26:48,800 You let it go! 514 00:26:48,880 --> 00:26:51,880 You are here to ask for a valuation of Rs. 240 crores, 515 00:26:51,960 --> 00:26:52,920 you have to be smart. 516 00:26:53,400 --> 00:26:55,560 Let me tell you, the shoes that Devansh is wearing 517 00:26:55,640 --> 00:26:56,480 retails for Rs. 10 lakhs. 518 00:26:57,040 --> 00:26:58,200 - What? - Dior. 519 00:26:58,320 --> 00:27:00,120 - Dior AJ... - Worth Rs. 10 lakhs? 520 00:27:00,280 --> 00:27:01,760 The market price is Rs. 10 lakhs, 521 00:27:01,880 --> 00:27:03,480 but on Culture Circle it's for Rs. 6.5 lakhs. 522 00:27:03,560 --> 00:27:05,320 [laughing] 523 00:27:05,720 --> 00:27:07,000 That's our USP. 524 00:27:07,120 --> 00:27:09,000 Great sales guy. 525 00:27:09,640 --> 00:27:13,760 All my shoes combined don't cost this much. 526 00:27:14,320 --> 00:27:16,440 That's fine. You can buy these. They only cost Rs. 2 lakhs. 527 00:27:16,960 --> 00:27:18,720 Only? 528 00:27:18,840 --> 00:27:20,560 [laughing] 529 00:27:21,480 --> 00:27:24,840 What would be the price of your cheapest shoe on your site? 530 00:27:24,920 --> 00:27:26,520 We sell Air Force and New Balance. 531 00:27:26,680 --> 00:27:28,120 - They cost around Rs. 6,000. - Rs. 6,000. 532 00:27:28,360 --> 00:27:30,680 Okay! How much for the most expensive shoes? 533 00:27:30,760 --> 00:27:32,440 - Rs. 30 lakhs. - Wow! 534 00:27:33,040 --> 00:27:34,200 When did you start this? 535 00:27:34,320 --> 00:27:37,000 Culture Circle started as a college project. 536 00:27:37,120 --> 00:27:38,920 - Oh! - In September last year. 537 00:27:47,840 --> 00:27:49,520 where you can compare prices. 538 00:27:49,600 --> 00:27:51,040 In just two or three months, 539 00:27:51,160 --> 00:27:53,520 there were 30,000 organic visits with zero marketing. 540 00:27:53,880 --> 00:27:56,680 We realised that there is an opportunity in this. 541 00:27:56,920 --> 00:27:59,600 People are talking about this platform. 542 00:28:00,000 --> 00:28:03,560 We created our buyer-side app, Culture Circle, in January, 543 00:28:03,640 --> 00:28:05,560 where all the consumers gather. We made that. 544 00:28:13,200 --> 00:28:16,640 Which is similar to a Unicommerce-type solution. 545 00:28:16,720 --> 00:28:19,280 It helps improve their P&L, makes buying better, 546 00:28:19,360 --> 00:28:20,920 and simplifies the listing process. 547 00:28:21,000 --> 00:28:22,640 I somewhat know that business. 548 00:28:24,280 --> 00:28:26,680 In this short journey, we have had amazing mentors 549 00:28:27,040 --> 00:28:28,720 at IIMA Ventures. 550 00:28:28,800 --> 00:28:30,280 Even at Info Edge. 551 00:28:30,400 --> 00:28:32,760 They have supported us to get to this stage. 552 00:28:32,960 --> 00:28:34,600 How has Info Edge helped you? 553 00:28:34,840 --> 00:28:38,400 We raised rounds from Info Edge back in May this year. 554 00:28:38,600 --> 00:28:41,680 - Oh! - They invested Rs. 16.2 crores. 555 00:28:42,000 --> 00:28:44,400 - Wow! - Yes. In May this year. 556 00:28:44,560 --> 00:28:46,520 - No wonder! - What was the valuation? 557 00:28:46,600 --> 00:28:49,120 The valuation was Rs. 80.2 crores. 558 00:28:49,200 --> 00:28:51,280 The convocation at IIM Ahmedabad happens in March, right? 559 00:28:51,360 --> 00:28:52,560 Yes, it happened on the 30th of March. 560 00:28:52,640 --> 00:28:55,120 Mine was also around 28th March. 561 00:28:55,360 --> 00:28:58,640 So, you graduated on the 30th of March 562 00:28:58,960 --> 00:29:01,040 and you received funding on the 24th of May. 563 00:29:01,120 --> 00:29:03,160 We didn't go out looking to raise funds. 564 00:29:03,240 --> 00:29:05,040 There was a pitch event at IIMA Ventures, 565 00:29:05,200 --> 00:29:06,000 where there was a boot camp, 566 00:29:06,080 --> 00:29:08,560 and that's where Info Edge reached out to us 567 00:29:08,640 --> 00:29:10,600 saying they have an active thesis in this category 568 00:29:10,680 --> 00:29:11,880 and wanted to have a conversation. 569 00:29:11,960 --> 00:29:13,840 I bet your batchmates were jealous. 570 00:29:14,760 --> 00:29:18,320 Mr. Sanjeev Bikhchandani is someone I really admire. 571 00:29:18,720 --> 00:29:21,600 He always says that the founders he believes in 572 00:29:21,680 --> 00:29:23,040 are the ones who make long-term bets. 573 00:29:23,160 --> 00:29:24,400 But he's very picky. 574 00:29:24,680 --> 00:29:27,640 Let me tell you, you are extremely lucky 575 00:29:28,080 --> 00:29:29,480 to have a mentor like Sanjeev. 576 00:29:29,720 --> 00:29:30,680 - Thank you. - Thank you so much. 577 00:29:30,760 --> 00:29:34,240 I did go online to buy sneakers. 578 00:29:34,400 --> 00:29:35,920 I didn't know about your company. 579 00:29:36,000 --> 00:29:39,720 Your website, UI, UX, your search algorithm 580 00:29:39,920 --> 00:29:40,800 are impressive. 581 00:29:40,880 --> 00:29:42,560 You should download our app. 582 00:29:42,680 --> 00:29:44,400 - You will love the UI, UX... - I didn't check your app. 583 00:29:44,520 --> 00:29:45,440 You can show it to us here. 584 00:29:45,560 --> 00:29:47,760 - Should we show you a demo? - Please. 585 00:29:48,600 --> 00:29:50,600 Sharks, this is Culture Circle app. 586 00:29:50,720 --> 00:29:53,680 In the bar on top, you can see 587 00:29:53,760 --> 00:29:56,160 some of the brands we sell on our platform. 588 00:29:56,360 --> 00:29:57,840 And we operate across categories. 589 00:29:57,920 --> 00:29:59,400 We are not restricted to sneakers. 590 00:29:59,520 --> 00:30:00,440 In fact, we have jackets. 591 00:30:00,600 --> 00:30:02,360 You can see the kind of brands we have. 592 00:30:02,520 --> 00:30:05,480 Moncler, Jordan, Travis. 593 00:30:05,640 --> 00:30:06,680 We also have sunglasses. 594 00:30:10,440 --> 00:30:13,120 We curate these products 595 00:30:13,400 --> 00:30:14,360 in one place. 596 00:30:14,480 --> 00:30:16,400 Let me show you our USP. 597 00:30:16,480 --> 00:30:17,760 Choose a pair of shoes. 598 00:30:18,000 --> 00:30:21,000 For example, let's say my size is UK 9. 599 00:30:21,280 --> 00:30:25,000 I will get a price comparison from all the verified sellers 600 00:30:34,560 --> 00:30:37,200 Tell me something, are they new or used? 601 00:30:37,560 --> 00:30:38,440 All are new! 602 00:30:38,560 --> 00:30:40,720 Untouched and brand-new products. 603 00:30:53,120 --> 00:30:55,240 There is a major problem with duplicates. It's an issue. 604 00:30:55,720 --> 00:30:59,240 There are two main methods to authenticate any product. 605 00:30:59,320 --> 00:31:02,880 First, inspect the product physically or digitally. 606 00:31:03,040 --> 00:31:05,240 Second, you can communicate directly with the brand. 607 00:31:05,320 --> 00:31:07,800 We work on both these levers. 608 00:31:07,880 --> 00:31:08,760 Number one, 609 00:31:08,840 --> 00:31:10,760 we use global authentication standards 610 00:31:10,840 --> 00:31:12,920 which are used by billion-dollar companies. 611 00:31:13,000 --> 00:31:15,280 We are their exclusive partners in India as of now. 612 00:31:15,520 --> 00:31:16,840 No one else has partnered with them. 613 00:31:17,000 --> 00:31:18,520 So, every product on our platform 614 00:31:18,600 --> 00:31:19,800 goes through their technology, 615 00:31:19,920 --> 00:31:21,600 ensuring an authentication certificate guarantee. 616 00:31:21,760 --> 00:31:23,720 No, sorry! This is happening virtually, right? 617 00:31:34,760 --> 00:31:36,440 Since 2018, 618 00:31:36,680 --> 00:31:38,800 brands are now actively wanting to be part of the resale market. 619 00:31:38,920 --> 00:31:41,480 They realised Nike got free promotions for 30 years. 620 00:31:41,720 --> 00:31:43,680 - So, brands are now actively investing efforts. - Yes. 621 00:31:43,760 --> 00:31:45,680 Whether it's RFID, barcoding, etcetera, 622 00:31:45,840 --> 00:31:47,760 in all of their products, for all luxury brands. 623 00:31:47,840 --> 00:31:49,560 But barcodes can also be duplicated. 624 00:31:49,640 --> 00:31:52,200 No! But the original manufacturer can tell you 625 00:31:52,280 --> 00:31:53,760 the batch quantity based on the barcode. 626 00:31:53,840 --> 00:31:55,800 - Correct! - This is how it is in pharma. 627 00:32:09,280 --> 00:32:10,880 he will be banned forever. 628 00:32:10,960 --> 00:32:12,880 And the 30 resellers who vouched for that seller 629 00:32:13,040 --> 00:32:13,960 will also be banned. 630 00:32:14,080 --> 00:32:15,600 Why is their situation so difficult these days? 631 00:32:15,680 --> 00:32:16,960 Inefficient cost management. 632 00:32:17,120 --> 00:32:18,320 In the past, this industry operated like this. 633 00:32:18,400 --> 00:32:21,440 We set the price of the show at Rs. 8,000, 634 00:32:21,560 --> 00:32:23,280 and we know we can get it for Rs. 6,000. 635 00:32:24,040 --> 00:32:26,640 Once the order comes in, I get on 300 WhatsApp groups. 636 00:32:26,960 --> 00:32:29,040 'I am looking to purchase this shoe at this price.' 637 00:32:29,120 --> 00:32:31,480 80% of this industry is still unorganised. 638 00:32:31,760 --> 00:32:33,800 It was running on WhatsApp and Google Sheets. 639 00:32:33,880 --> 00:32:36,440 They mention 'Want to buy.' Sometimes you get them or you don't. 640 00:32:36,560 --> 00:32:39,560 It was available for Rs. 6000 a month ago, they quoted Rs. 8,000. 641 00:32:39,840 --> 00:32:41,600 But now, it's for Rs. 9,000. 642 00:32:41,680 --> 00:32:43,840 So, before we came in, on average, 643 00:32:43,920 --> 00:32:45,720 their order cancellation rate was 30%. 644 00:32:45,800 --> 00:32:47,320 - Oh! - Which these players could not fulfil. 645 00:32:47,400 --> 00:32:49,360 What we did was, with our data points, 646 00:32:49,440 --> 00:32:51,440 SourceX app... I'll show you a demo. 647 00:32:55,760 --> 00:32:57,280 Let me tell you about cancellations. 648 00:32:57,400 --> 00:32:59,120 Let's say, as a seller, I reject an order. 649 00:32:59,320 --> 00:33:00,800 I don't have this product or it was sold. 650 00:33:00,920 --> 00:33:03,480 There is an automatic bidding system on our app. 651 00:33:03,760 --> 00:33:04,920 So, this goes into the bids, 652 00:33:05,000 --> 00:33:07,440 and the 3000 sellers get the bids broadcasted. 653 00:33:14,280 --> 00:33:15,880 about new releases, trending items, 654 00:33:16,000 --> 00:33:17,480 what's happening in apparel, most worn and 655 00:33:17,560 --> 00:33:19,280 most sold products, and potential top investments. 656 00:33:19,360 --> 00:33:21,000 Where are you sourcing this content from? 657 00:33:21,080 --> 00:33:23,600 We scrape 234 websites globally. 658 00:33:23,680 --> 00:33:25,720 And from there, we aggregate all the products, 659 00:33:33,520 --> 00:33:36,120 That is one. And secondly, by assisting the reseller 660 00:33:36,200 --> 00:33:38,400 with improved purchasing, we can ensure 661 00:33:38,520 --> 00:33:39,520 that when an order comes in, 662 00:33:39,600 --> 00:33:40,800 they will already have the product available. 663 00:33:40,880 --> 00:33:41,960 It won't take 30 days. 664 00:33:42,040 --> 00:33:43,160 It will be fulfilled in six days. 665 00:33:43,240 --> 00:33:45,320 The better their sourcing is, 666 00:33:45,400 --> 00:33:46,920 the better our customer experience will be. 667 00:33:47,000 --> 00:33:48,360 How much is your 'out of stock' rate? 668 00:33:54,960 --> 00:33:57,440 It's tough to make money in marketplaces. 669 00:33:58,640 --> 00:33:59,880 What are you planning? 670 00:34:00,040 --> 00:34:02,080 The most important number for profitability 671 00:34:02,160 --> 00:34:04,120 in marketplaces is the take rate. 672 00:34:06,280 --> 00:34:07,640 Take rate refers to 673 00:34:07,760 --> 00:34:09,720 the percentage of commission a platform 674 00:34:09,800 --> 00:34:11,760 or service provider charges 675 00:34:12,040 --> 00:34:13,920 on transactions made by its users. 676 00:34:14,480 --> 00:34:16,880 For example, if an e-commerce platform 677 00:34:16,960 --> 00:34:18,720 sells goods worth Rs. 1 lakh 678 00:34:18,840 --> 00:34:22,280 and retains Rs. 10,000 as commission, 679 00:34:22,760 --> 00:34:26,840 the take rate would be 10,000 divided by 1 lakh which is 10%. 680 00:34:28,040 --> 00:34:29,240 Now, the advantage is 681 00:34:29,360 --> 00:34:31,320 that since the supply side is disaggregated 682 00:34:31,520 --> 00:34:32,760 and consists of limited-edition products, 683 00:34:32,920 --> 00:34:35,760 marketplaces globally charge commissions 684 00:34:35,880 --> 00:34:37,880 in the range of 25% to 30%. 685 00:34:37,960 --> 00:34:39,120 That is what most marketplaces take. 686 00:34:39,240 --> 00:34:41,160 Currently, we operate at a blended commission of 16%. 687 00:34:41,240 --> 00:34:43,520 Okay! But they are also selling them on their site. 688 00:34:43,840 --> 00:34:45,000 They don't mostly have sites. 689 00:34:45,160 --> 00:34:47,320 - They have Instagram pages. - They do. Most of them have sites. 690 00:34:47,440 --> 00:34:49,800 - Yes. - Like Find Your Kicks' website. 691 00:34:49,880 --> 00:34:51,560 - They have 'x' price on their site. - Correct. 692 00:34:52,000 --> 00:34:53,200 Why would I buy from your site then? 693 00:34:53,280 --> 00:34:56,720 Your website serves as a tool to check current pricing. 694 00:34:56,920 --> 00:34:59,600 I was talking about individual sellers. They don't have a site. 695 00:34:59,720 --> 00:35:02,280 On Find Your Kicks, we don't charge any commission. 696 00:35:02,400 --> 00:35:04,920 Whatever fair price is listed on their website 697 00:35:05,000 --> 00:35:06,520 will be the exact price you get. 698 00:35:06,600 --> 00:35:07,680 You don't earn any money from that? 699 00:35:07,760 --> 00:35:09,200 - No, we don't. - Won't you earn anything? 700 00:35:09,280 --> 00:35:10,400 We don't want to. 701 00:35:10,840 --> 00:35:12,800 - Because 99.5... - How will you make money? 702 00:35:12,960 --> 00:35:14,920 99.5% of orders are not like this. 703 00:35:15,040 --> 00:35:17,880 We have 3,000 resellers... 704 00:35:17,960 --> 00:35:20,080 - Individual? Okay. - They are individual resellers. 705 00:35:24,760 --> 00:35:26,840 Apparel is 30%. 706 00:35:26,920 --> 00:35:28,760 - Oh! - And accessories are 10%. 707 00:35:29,160 --> 00:35:31,120 How does taxation work in this industry? 708 00:35:31,320 --> 00:35:33,720 So, GST on our commission. 709 00:35:40,640 --> 00:35:42,000 Let's say, on the platform, 710 00:35:42,160 --> 00:35:45,040 the seller's payout price is Rs. 8,000. 711 00:35:45,120 --> 00:35:47,520 So, Culture Circle's margin is Rs. 2,000. 712 00:35:47,760 --> 00:35:49,240 The tax we pay 713 00:35:49,440 --> 00:35:52,560 is 18% on this Rs. 2,000 increment. 714 00:35:52,880 --> 00:35:54,360 An invoice is generated 715 00:35:54,600 --> 00:35:55,840 from that individual 716 00:35:55,960 --> 00:35:57,480 - to that... - Customer. 717 00:35:57,720 --> 00:35:58,920 Customer! Since it's peer-to-peer. 718 00:35:59,040 --> 00:36:01,560 The entire regulation has not been established for it. 719 00:36:01,920 --> 00:36:03,960 Uh, that is the main purpose. Like, we... 720 00:36:04,040 --> 00:36:06,880 Actually, in this phase, I think, this is a huge risk. 721 00:36:07,680 --> 00:36:10,240 Do you know, in e-commerce, on the supply side... 722 00:36:10,400 --> 00:36:12,240 there is high focus of tax authorities. 723 00:36:12,360 --> 00:36:13,480 Correct, correct. 724 00:36:13,960 --> 00:36:16,640 But, they are often fixed-price products too. 725 00:36:17,360 --> 00:36:19,600 Here, these are moving price products. 726 00:36:19,680 --> 00:36:21,560 What's being followed globally... 727 00:36:21,640 --> 00:36:23,280 plus what's exactly being followed in India too 728 00:36:23,360 --> 00:36:24,720 with all peer to peer marketplaces... 729 00:36:33,200 --> 00:36:34,320 Okay, tell us the numbers. 730 00:36:34,400 --> 00:36:37,640 Year to date, from April to November 731 00:36:37,920 --> 00:36:41,080 we've made gross sales of 22.2 crores. 732 00:37:08,480 --> 00:37:10,000 So, I'll tell you a broad trajectory. 733 00:37:10,080 --> 00:37:15,080 When Info Edge funded us, we were doing 1.3 crores in net GMV. 734 00:37:15,160 --> 00:37:17,920 In November, we closed our net at 5.05 crores. 735 00:37:22,160 --> 00:37:24,640 Which is 16% now. So, in terms of size of business 736 00:37:24,720 --> 00:37:27,200 - It is uh, more than six times... - But, Devansh. 737 00:37:27,400 --> 00:37:28,360 Hand on heart... 738 00:37:28,560 --> 00:37:32,600 you think that they made the investments seeing any metrics? 739 00:37:32,720 --> 00:37:36,120 - It was potential. - Their goal seek was to get 20% equity. 740 00:37:36,480 --> 00:37:39,080 So, you can't take that as a starting point. 741 00:37:39,640 --> 00:37:42,640 Yes, correct. So, one more comparable, for example. The other 742 00:37:42,920 --> 00:37:44,440 players in our industry, globally 743 00:37:44,560 --> 00:37:47,920 typically trade at 2.5x of GMV. 744 00:37:48,000 --> 00:37:50,120 But, their annual growth rate is 10-15%. 745 00:37:50,240 --> 00:37:53,240 As of this moment, we're growing 30% month on month. 746 00:37:53,360 --> 00:37:55,200 What is the expectation of FY26? 747 00:37:55,400 --> 00:37:57,080 Total GMV, if I have to say... 748 00:37:57,200 --> 00:37:59,320 we want to close at a 300 crore GMV. 749 00:37:59,440 --> 00:38:03,680 Again, this is on a 15-20% month on month growth rate assumption. 750 00:38:03,880 --> 00:38:05,480 So, you're doing another round raise? 751 00:38:05,760 --> 00:38:07,240 - Uh, no. - How much do you have in the bank? 752 00:38:07,320 --> 00:38:10,160 17-17.2 crores in the bank, still. 753 00:38:25,120 --> 00:38:27,080 It's, honestly, for that guidance and mentorship. 754 00:38:27,200 --> 00:38:29,800 But, for guidance and mentorship, you would do it at the same round. 755 00:38:29,880 --> 00:38:31,600 Right? You wouldn't pair up valuation. 756 00:38:31,680 --> 00:38:33,160 You could give equity for free. 757 00:38:34,080 --> 00:38:36,560 We feel, that would be too unfair 758 00:38:36,640 --> 00:38:38,520 to the people who have believed in us at that point. 759 00:38:38,600 --> 00:38:40,280 That point where there were lower revenues. 760 00:38:40,360 --> 00:38:41,560 No, you say you want guidance. 761 00:38:41,640 --> 00:38:44,360 So, that's the... I mean, you're not even having a flat round. 762 00:38:44,640 --> 00:38:45,880 You're making it 4x in 4 months. 763 00:38:45,960 --> 00:38:47,760 Because, business has fundamentally changed. 764 00:38:47,880 --> 00:38:51,520 It is more like, you get marketing without a deal. Win-win. 765 00:38:51,680 --> 00:38:53,280 - No, no. - Like, we are here to make a deal. 766 00:38:53,360 --> 00:38:57,360 Or, a deal at 200 crores. A disgusting valuation, where... 767 00:38:57,480 --> 00:38:59,240 We are here to make a deal. Otherwise... 768 00:38:59,360 --> 00:39:00,680 Uh, that is our very clear intent. 769 00:39:00,760 --> 00:39:02,320 So, you would do a deal at 80 crores? 770 00:39:04,120 --> 00:39:06,920 At 80 crores, we would not be able to. It would be really unfair 771 00:39:07,080 --> 00:39:08,680 to our investors then. 772 00:39:08,760 --> 00:39:11,520 What's unfair is that you have 17 crores in the bank 773 00:39:11,640 --> 00:39:13,600 and still came to Shark Tank. Another brand... 774 00:39:13,680 --> 00:39:15,960 that needs capital is unable to take your place. 775 00:39:16,040 --> 00:39:18,280 That's unfair. What you're facing is not unfair. 776 00:39:18,760 --> 00:39:22,200 You shouldn't cite someone else, that they'll find it unfair. 777 00:39:22,280 --> 00:39:23,240 What will you feel? 778 00:39:23,320 --> 00:39:25,640 - No, so, we'll find it unfair too. - Why? 779 00:39:26,800 --> 00:39:28,240 In today's date... 780 00:39:28,320 --> 00:39:31,320 this is a business worth a 9 crore revenue run rate. 781 00:39:31,520 --> 00:39:34,880 Honestly, if you ask me, 80 crores is also a very rich valuation. 782 00:39:36,080 --> 00:39:40,200 And, an investor who puts 16 crores for 20% 783 00:39:40,280 --> 00:39:43,720 and an investor who puts 1 crore have different approaches. 784 00:39:43,800 --> 00:39:47,440 Because, you know, the 0.5% you're offering has no meaning. 785 00:39:47,840 --> 00:39:50,280 So, it is really... I mean, I am finding it... 786 00:39:50,480 --> 00:39:51,720 impossible to believe 787 00:39:51,800 --> 00:39:54,840 that you've come here with the intent of a deal. 788 00:39:56,040 --> 00:39:59,200 Either you came with the thought of closing at 80 crores. 789 00:39:59,280 --> 00:40:00,400 - This was just a negotiation. - Yes. 790 00:40:00,480 --> 00:40:03,840 Or, you think there won't be a deal, it's the best. You'll get marketing. 791 00:40:04,000 --> 00:40:07,400 Which is no harm. But, there is no way you've come to make this deal. 792 00:40:09,320 --> 00:40:12,360 After our first term sheet, we had offers with more valuation 793 00:40:12,600 --> 00:40:15,520 within the next 30 days from a tier 1 fund. 794 00:40:15,800 --> 00:40:17,320 And, we did not take that deal. 795 00:40:17,600 --> 00:40:19,680 And, we have refused a lot of people 796 00:40:19,880 --> 00:40:22,760 as individual angels, who we wanted on the cap table 797 00:40:23,160 --> 00:40:27,000 uh, at a higher valuation than 80 crores, to be very honest. 798 00:40:27,400 --> 00:40:28,960 I see two challenges in this. 799 00:40:29,200 --> 00:40:32,480 I don't enter a GMV multiples game 800 00:40:32,560 --> 00:40:36,720 because, as a 0.5-0.6% shareholder 801 00:40:36,840 --> 00:40:38,680 by the time things happen in it 802 00:40:38,760 --> 00:40:40,440 the company posts an IPO, nothing is left. 803 00:40:40,520 --> 00:40:43,320 - Maybe 0.1-0.05%. - Ma'am, we'll directly have an IPO next. 804 00:40:43,640 --> 00:40:44,440 Exactly! 805 00:40:44,520 --> 00:40:48,560 Secondly, you said luxury brands love this. 806 00:40:48,720 --> 00:40:50,400 I feel that they love it 807 00:40:50,600 --> 00:40:54,200 to a certain point, till they think individuals are playing this game. 808 00:40:54,280 --> 00:40:57,960 There is a demand to supply action for the brands. 809 00:40:58,720 --> 00:41:01,360 The moment you'll scale this high 810 00:41:01,640 --> 00:41:03,840 brands will have a problem 811 00:41:03,920 --> 00:41:06,760 because, not only will they sometimes go to 30 lakhs 812 00:41:06,880 --> 00:41:09,440 but, it will also happen sometimes that their stock will touch 5000. 813 00:41:09,520 --> 00:41:10,920 Ma'am, then, we'll be able to establish 814 00:41:11,000 --> 00:41:12,200 a retail relationship with them. 815 00:41:12,280 --> 00:41:13,600 They won't do that! 816 00:41:13,680 --> 00:41:16,480 Because, there is a reason that Gucci does not sell online 817 00:41:16,560 --> 00:41:19,440 and Dior does not sell online, because, their... 818 00:41:19,560 --> 00:41:22,040 they have such a huge business with Reliance. 819 00:41:22,160 --> 00:41:24,760 They have offline partnerships with luxury retailers. 820 00:41:24,880 --> 00:41:27,480 If they sell their products heavily 821 00:41:27,960 --> 00:41:29,920 in the online culture circle 822 00:41:30,000 --> 00:41:33,120 then, they'll have fights with their offline partners. 823 00:41:33,200 --> 00:41:35,760 For them, this positioning that 824 00:41:35,960 --> 00:41:38,640 their brand should look this way, this should be the price... 825 00:41:38,720 --> 00:41:40,120 is so important 826 00:41:40,200 --> 00:41:43,080 that the moment you become a serious business 827 00:41:43,160 --> 00:41:44,960 they will come and stop you. 828 00:41:45,040 --> 00:41:48,080 I hope they don't and I hope you succeed, because 829 00:41:48,280 --> 00:41:50,120 India needs something like this. 830 00:41:50,200 --> 00:41:52,880 But, for now, I'm not able to partner with you. Best of luck. 831 00:41:52,960 --> 00:41:54,600 Thank you. 832 00:41:55,240 --> 00:41:56,880 This is a very risky business. 833 00:41:57,480 --> 00:42:00,640 You have kind of a tail vent, you have good momentum. 834 00:42:00,760 --> 00:42:02,240 You're unable to see the risk right now. 835 00:42:04,080 --> 00:42:05,880 But, I like taking risks. 836 00:42:07,080 --> 00:42:08,360 - Thank you. - So... 837 00:42:08,560 --> 00:42:11,000 The valuation will remain at 80 crores. 838 00:42:11,280 --> 00:42:12,720 But, I'll put in 8 crore rupees. 839 00:42:23,840 --> 00:42:25,680 So, I want to offer you... 840 00:42:25,760 --> 00:42:30,160 for 90 crore valuation, 1.2 crores at 1.33%. 841 00:42:36,240 --> 00:42:38,160 I really want to. 842 00:42:38,480 --> 00:42:40,800 I can't give you that valuation at all. 843 00:42:41,680 --> 00:42:43,760 I give you a 40 crore valuation. 844 00:42:45,800 --> 00:42:48,800 Devansh is looking like he's going to punch you. 845 00:42:49,520 --> 00:42:51,560 - Punch me, man. - No, sir. 846 00:42:52,800 --> 00:42:54,720 I won't take more than 1%. 847 00:42:55,680 --> 00:42:57,800 But, I'll give you 40 lakhs as equity. 848 00:42:58,520 --> 00:43:00,720 - 40 lakhs, if we want to... - And, rest debt... 849 00:43:00,880 --> 00:43:03,600 at 10% for 2 years, which you can use if you want to 850 00:43:09,640 --> 00:43:12,840 So, I understand sneakerheads in this category. 851 00:43:13,000 --> 00:43:14,360 I'd like to give you an offer. 852 00:43:14,440 --> 00:43:16,320 I'll give you 1.2 crores 853 00:43:16,920 --> 00:43:18,200 for 1.2%. 854 00:43:20,440 --> 00:43:22,760 That makes your valuation 100 crores. 855 00:43:23,280 --> 00:43:25,720 So, it's the highest valuation of all three. 856 00:43:27,560 --> 00:43:31,160 But, I will want 0.5% royalty 857 00:43:32,800 --> 00:43:34,080 till I recover 858 00:43:34,400 --> 00:43:36,520 my principal amount of 1.2 crores. 859 00:43:43,560 --> 00:43:45,520 If we give any cash flow 860 00:43:45,640 --> 00:43:48,040 off the top anywhere instead of reinvesting it... 861 00:43:48,120 --> 00:43:50,800 You know, I tell everyone that when you give equity 862 00:43:50,880 --> 00:43:52,120 you give it permanently. 863 00:43:52,200 --> 00:43:54,040 Royalty is temporary. 864 00:43:56,080 --> 00:43:58,040 Think about it. Well, thank you. 865 00:44:08,520 --> 00:44:11,320 And, are you willing to walk off at 120? 866 00:44:15,120 --> 00:44:17,560 [tense music playing] 867 00:44:21,240 --> 00:44:22,480 We do have a counter. 868 00:44:22,560 --> 00:44:23,760 - He's here. - Of course. 869 00:44:23,960 --> 00:44:25,960 We want to part with 2% equity 870 00:44:26,240 --> 00:44:29,520 against 2.4 crores of investment. This is... 871 00:44:29,600 --> 00:44:31,280 an offer open... 872 00:44:31,680 --> 00:44:34,560 to everyone who was willing and gave us an offer. 873 00:44:34,760 --> 00:44:37,960 - You shot down from 240 to 120? - We want to prove... 874 00:44:38,520 --> 00:44:40,680 everyone wrong. We are here to make a deal. 875 00:44:40,800 --> 00:44:41,840 We see the value. 876 00:44:42,640 --> 00:44:44,560 Shall we make a combined deal in this? 877 00:44:44,640 --> 00:44:47,960 I'm very clear that I want royalty. So, I won't make a combined deal. 878 00:44:48,880 --> 00:44:50,320 I've changed my offer. 879 00:44:52,400 --> 00:44:55,000 1.2 crores for 1% 880 00:44:56,920 --> 00:44:58,920 with 0.5% on NMV. 881 00:45:04,240 --> 00:45:09,200 Our offer is, for 1.5%, at a valuation of 80 crores 882 00:45:09,280 --> 00:45:10,680 an investment of 1.2 crores. 883 00:45:15,960 --> 00:45:17,960 I think I will be able to help you. 884 00:45:18,040 --> 00:45:21,320 Specifically, the opportunity to grow from India to the world. 885 00:45:21,640 --> 00:45:24,680 I've fundamentally, closely seen in the matrix that 886 00:45:24,760 --> 00:45:26,360 the number of users in this segment is less 887 00:45:26,440 --> 00:45:29,760 but, their repeat purchase and wallet shed can be disproportionate. 888 00:45:30,040 --> 00:45:31,640 All these things are connected 889 00:45:31,920 --> 00:45:34,080 to deep supply-oriented efforts 890 00:45:34,240 --> 00:45:36,200 which, I think, is being done well by you. 891 00:45:36,280 --> 00:45:38,600 But, we may be able to help you shift from India to the world. 892 00:45:40,000 --> 00:45:41,440 Consumer connect. 893 00:45:41,880 --> 00:45:44,880 What does the consumer want? How do trends change? 894 00:45:45,520 --> 00:45:48,400 How to map the Indian consumer. 895 00:45:48,680 --> 00:45:50,640 I have the passion to run a business strategically. 896 00:45:51,280 --> 00:45:52,640 Marketplace... 897 00:45:52,920 --> 00:45:55,600 Nobody can help you better than Sanjeev Bikhchandani sir. 898 00:45:56,360 --> 00:45:59,040 Only someone who has built a marketplace for a long time 899 00:45:59,120 --> 00:46:00,840 can know how complex it can be. 900 00:46:01,680 --> 00:46:04,320 Building it, giving it momentum, maintaining the momentum. 901 00:46:04,520 --> 00:46:06,800 So, his valuation was the same as... 902 00:46:07,120 --> 00:46:08,640 I was offering 80 crores. 903 00:46:09,560 --> 00:46:12,840 I can reduce ownership, because it seems you are ownership-sensitive. 904 00:46:14,320 --> 00:46:17,120 Will you give 3% ownership at 80 crores? 905 00:46:18,920 --> 00:46:19,840 No. 906 00:46:20,560 --> 00:46:22,200 He doesn't go under 10. 907 00:46:22,320 --> 00:46:23,960 You're ready to give 2%, right? 908 00:46:24,120 --> 00:46:26,400 So, my offer is 1.6 crores 909 00:46:27,120 --> 00:46:29,720 at 80 crore valuation, so 2%. 910 00:46:35,440 --> 00:46:36,960 To whom are you giving the counter? 911 00:46:38,160 --> 00:46:42,320 Uh, to Kunal sir and to Ritesh sir and Aman sir. 912 00:46:42,400 --> 00:46:43,760 - You rejected me! - It's a joint offer. 913 00:46:43,840 --> 00:46:46,440 - Because, we will not be willing to accept royalty. - Royalty? Okay. 914 00:46:46,520 --> 00:46:47,720 - No problem. - Ma'am, that is the only issue. 915 00:46:47,800 --> 00:46:49,320 Thank you so much for the offer. 916 00:46:49,600 --> 00:46:52,680 1.2 crores at a 100 crore valuation. 917 00:47:06,680 --> 00:47:08,360 I'll do 2 crores at 100 crores also. 918 00:47:08,440 --> 00:47:10,240 [screaming excitedly] 919 00:47:16,560 --> 00:47:18,480 Guys, we all can help you, man! 920 00:47:19,760 --> 00:47:21,480 So, why don't all three of you come together? 921 00:47:21,560 --> 00:47:23,800 So, raise the round size. We won't have a problem. 922 00:47:27,440 --> 00:47:29,240 Sharks, let's do 4 crores at 4%. 923 00:47:29,320 --> 00:47:31,320 - Wait a sec! - Oh my god! 924 00:47:33,440 --> 00:47:34,560 All three of us, right? 925 00:47:34,680 --> 00:47:37,720 So, I'll ask once. Do you want to give 4 crores? 926 00:47:38,480 --> 00:47:42,520 Hey, I'm still there! If they'll negotiate now, I'm still there. 927 00:47:42,600 --> 00:47:43,520 At 120. 928 00:47:43,600 --> 00:47:45,920 - I'm still there. Still valid. - Is that offer still valid? 929 00:47:46,120 --> 00:47:48,040 Can you let go of the royalty anyhow? 930 00:47:48,240 --> 00:47:49,800 I can make it 0.25%. 931 00:47:51,120 --> 00:47:52,920 - No. - Fundamental issue is the royalty. 932 00:47:53,000 --> 00:47:54,600 - Okay, guys. - Okay. 933 00:47:55,080 --> 00:47:57,040 So, I think, if there are 3 Sharks... 934 00:47:57,120 --> 00:47:59,520 I always say, 3 Sharks have their own value. 935 00:47:59,720 --> 00:48:03,400 But, Kunal, let me say one thing, you can't then go individually. 936 00:48:04,160 --> 00:48:06,200 Either we go together, or, we... 937 00:48:06,440 --> 00:48:09,480 - You can't make an offer later. - I know how to make a deal. 938 00:48:11,360 --> 00:48:13,680 No, you're on Shark Tank for the first time. 939 00:48:13,760 --> 00:48:15,600 No, I've made more deals than you. 940 00:48:16,320 --> 00:48:18,160 So, we three... yes, you've made deals, but... 941 00:48:18,240 --> 00:48:20,200 I'm telling you, you can't go alone later. 942 00:48:20,280 --> 00:48:21,760 - We're together. - His name has Snapdeal in it. 943 00:48:22,640 --> 00:48:24,600 - Okay. - So, we have only one offer on the table. 944 00:48:25,240 --> 00:48:28,480 We'll give you 4 crores, not at 4%, but at 5% now. 945 00:48:28,880 --> 00:48:30,160 [gasping] 946 00:48:33,160 --> 00:48:36,280 Nothing is being solved. Dilution is also not solved. 947 00:48:36,360 --> 00:48:37,520 We cannot be unfair to our investors 948 00:48:37,600 --> 00:48:39,240 - as we will never be... - And, I'm still there. 949 00:48:39,320 --> 00:48:41,280 unfair to you also, anytime in the future. 950 00:48:41,360 --> 00:48:43,040 I've reduced the royalty to 0.25%. 951 00:48:51,360 --> 00:48:53,200 And, this is all we can do now. 952 00:48:53,280 --> 00:48:55,600 4 crores for 5%, 3 Sharks. 953 00:48:55,960 --> 00:48:57,800 So now, you decide. 954 00:49:00,000 --> 00:49:01,800 All said and done, you're getting all three too. 955 00:49:01,920 --> 00:49:03,080 So, each will bring his value. 956 00:49:03,160 --> 00:49:05,440 And, you're getting 50% more valuation from me. 957 00:49:05,760 --> 00:49:07,160 - No royalty. - Namita? 958 00:49:12,760 --> 00:49:14,640 [laughter] Guys! 959 00:49:14,720 --> 00:49:17,080 - Boss, you are not here for a deal. - Decide! 960 00:49:17,280 --> 00:49:19,160 - You came for getting on-air! - No! 961 00:49:19,360 --> 00:49:22,560 - No, I believe in you! - He meant something else. 962 00:49:22,640 --> 00:49:24,120 - You're here for the right reasons. - It's an inside joke. 963 00:49:24,200 --> 00:49:27,080 Boss, I am out! You guys can go with all four of them. 964 00:49:27,160 --> 00:49:28,720 - You're here for the marketing. - No! 965 00:49:28,840 --> 00:49:30,560 - I'm out! - Don't apologise. 966 00:49:30,720 --> 00:49:34,040 No, it's a great marketing platform on national TV. 967 00:49:34,120 --> 00:49:35,480 If I was given such a platform... 968 00:49:35,560 --> 00:49:37,160 - I am unfortunately out. - Hey, I believe in you. 969 00:49:37,720 --> 00:49:38,920 Given Aman's out, now... 970 00:49:39,040 --> 00:49:41,600 it's no longer a joint deal, so, individual deals are on. 971 00:49:41,680 --> 00:49:42,640 Are we on or not? 972 00:49:54,680 --> 00:49:56,640 [dynamic music playing] 973 00:50:05,440 --> 00:50:07,760 - Please be a customer. - But, I value my time. 974 00:50:07,840 --> 00:50:09,120 - Sir, please be a customer. - I will. 975 00:50:09,360 --> 00:50:10,720 - Thank you, sir. - If I get the best deal. 976 00:50:11,080 --> 00:50:12,720 - How old are you? - Uh, 26. 977 00:50:12,800 --> 00:50:14,240 - I'm 26. - I'm just 27. 978 00:50:14,320 --> 00:50:16,720 Amazing! You guys are really great. 979 00:50:16,800 --> 00:50:18,760 You... why did you miss out on me? 980 00:50:18,840 --> 00:50:20,840 You barely got by today. 981 00:50:20,920 --> 00:50:23,160 This never happens with founders. 982 00:50:23,920 --> 00:50:25,720 [exciting music playing] 983 00:50:26,520 --> 00:50:28,280 Superb! Very good! Good deal. 984 00:50:28,480 --> 00:50:31,120 Buy your next shoes for 40 lakhs, you've grabbed a great cheque. 985 00:50:31,200 --> 00:50:32,800 - Thank you so much, sir. - Thank you, sir. 986 00:50:33,000 --> 00:50:34,600 - Bye. All the best. - Wow! 987 00:50:34,760 --> 00:50:36,640 - What a game they played! - Really! 988 00:50:38,600 --> 00:50:41,640 Do you think he purposely said it so that we hear 989 00:50:41,760 --> 00:50:44,280 - and then, you leave, and... - No, I'll tell you. 990 00:50:44,360 --> 00:50:45,800 they make a deal? 991 00:50:45,880 --> 00:50:47,400 I'm getting a national platform for marketing. 992 00:50:47,480 --> 00:50:49,080 It's the best thing I can do for my business. 993 00:50:49,280 --> 00:50:51,160 And also, we wanted to just prove a point that we 994 00:50:51,240 --> 00:50:53,520 are here to make a deal, which is why we slashed 995 00:50:53,600 --> 00:50:55,000 from 240 to 120. 996 00:50:55,080 --> 00:50:57,200 - They did it intentionally. - So, you leave and... 997 00:50:57,320 --> 00:50:59,880 No, they did it intentionally. 998 00:50:59,960 --> 00:51:02,200 But, we are very happy with Ritesh and Kunal sir. 999 00:51:02,360 --> 00:51:04,880 I mean, our IPO is confirmed in three years. 1000 00:51:04,960 --> 00:51:07,120 Guys, the set of Shark Tank India 1001 00:51:07,320 --> 00:51:08,840 has very hard-working people here. 1002 00:51:09,040 --> 00:51:10,600 Especially, the interns here. 1003 00:51:11,200 --> 00:51:12,280 That reminds me. 1004 00:51:14,080 --> 00:51:15,960 Very genuine and hard-working people. 1005 00:51:16,040 --> 00:51:18,360 They have vibrant and energetic personalities. 1006 00:51:18,440 --> 00:51:21,280 But, where interns are concerned, nobody can stop one thing. 1007 00:51:21,360 --> 00:51:23,160 You know what? The fight for stationery. 1008 00:51:23,280 --> 00:51:25,840 They're fighting me for stationery. I don't even use it. 1009 00:51:25,920 --> 00:51:27,600 But, who's the host? I am. 1010 00:51:27,720 --> 00:51:29,120 Whose responsibility is it? Mine. 1011 00:51:29,200 --> 00:51:30,760 I will have to handle this matter. 1012 00:51:31,360 --> 00:51:32,880 I'll take help from Swiggy Instamart, obviously. 1013 00:51:33,080 --> 00:51:35,360 I'll order stationery for them. What else? 1014 00:51:36,600 --> 00:51:39,280 I'll add some pens. A couple of markers. 1015 00:51:40,000 --> 00:51:41,440 Colourful notes. 1016 00:51:41,720 --> 00:51:44,520 A cartoon pen stand. I like this too, I'll keep it. 1017 00:51:44,600 --> 00:51:47,760 I'll order some chocolates to make these kids happy. 1018 00:51:48,120 --> 00:51:49,000 Done, added. 1019 00:51:49,080 --> 00:51:50,840 It will be here in 10 minutes. No worries. 1020 00:51:51,120 --> 00:51:52,280 You go on Swiggy Instamart too. 1021 00:51:52,360 --> 00:51:54,720 Order whatever you like, this has everything. 1022 00:51:54,920 --> 00:51:56,400 Order now. 1023 00:51:56,480 --> 00:51:59,480 Stay at home and play. Be a Home Shark 1024 00:51:59,760 --> 00:52:01,840 and win lots of prizes. 1025 00:52:02,120 --> 00:52:05,360 You can analyse pitches like us 1026 00:52:05,520 --> 00:52:07,880 and make predictions. And, for that... 1027 00:52:08,040 --> 00:52:10,840 download Sony LIV app today. 1028 00:52:10,920 --> 00:52:13,640 [theme music playing] 1029 00:52:24,640 --> 00:52:26,760 [gentle music playing] 1030 00:52:29,640 --> 00:52:30,480 Greetings, Sharks. 1031 00:52:32,080 --> 00:52:33,240 I'm from Jaipur. 1032 00:52:35,160 --> 00:52:37,720 who began his journey at the age of 13. 1033 00:52:38,240 --> 00:52:40,040 I come from a business Marwari family. 1034 00:52:40,120 --> 00:52:40,800 So business minded 1035 00:52:40,880 --> 00:52:43,000 that even my pocket money had to be ROI justified. 1036 00:52:43,800 --> 00:52:46,560 I always built businesses on a 3P formula. 1037 00:52:55,040 --> 00:52:57,680 but, also be able to create a life changing impact in people's lives. 1038 00:52:57,960 --> 00:53:02,200 In India, almost 45% people have been considered unhealthy. 1039 00:53:07,440 --> 00:53:08,440 Or, they are going to. 1040 00:53:13,400 --> 00:53:17,120 And, a 70-hour work week has become the new debate trend. 1041 00:53:17,560 --> 00:53:20,000 Introducing you to my current company, Nexera.health. 1042 00:53:20,080 --> 00:53:22,320 Nexera is an end-to-end healthcare platform 1043 00:53:45,080 --> 00:53:46,840 And so, HRs get access to the admin panel 1044 00:53:47,680 --> 00:53:50,200 where they can see visible ROIs for their employees 1045 00:54:00,720 --> 00:54:03,040 and indirectly impacted thousands of employees 1046 00:54:03,120 --> 00:54:04,560 in corporates across the world. 1047 00:54:05,560 --> 00:54:07,680 I always say, it is natural to make mistakes 1048 00:54:07,800 --> 00:54:10,080 it is cultured to accept them and progressive to change. 1049 00:54:10,160 --> 00:54:11,240 - My god. - Amazing! 1050 00:54:11,360 --> 00:54:13,200 So, with your guidance, we'll make progress 1051 00:54:13,280 --> 00:54:14,680 and learn from our mistakes too. 1052 00:54:18,920 --> 00:54:20,600 I would like to end my speech by saying, 1053 00:54:20,680 --> 00:54:23,000 'patience will bear fruit, your wish will be fulfilled'. 1054 00:54:23,120 --> 00:54:24,960 'You will attain your goal, maybe with struggles.' 1055 00:54:25,040 --> 00:54:26,560 'The lost ones are those who didn't try at all.' 1056 00:54:27,080 --> 00:54:29,040 So, if we are patient and perseverent enough 1057 00:54:29,160 --> 00:54:31,200 we will definitely pave our way through. 1058 00:54:39,560 --> 00:54:41,680 - Sorry, sorry, Himanshu. - Himanshu, yes. 1059 00:54:41,760 --> 00:54:44,000 Ritesh is here, but, you're truly a mini Ritesh. 1060 00:54:44,080 --> 00:54:45,240 We are the same. 1061 00:54:45,320 --> 00:54:47,200 At the age of 19. Did you use Ritesh 1062 00:54:47,280 --> 00:54:49,760 as a model for your clothes and hairstyle too? 1063 00:54:49,880 --> 00:54:52,760 Ma'am, this is the most Gen-Z clothing I've ever worn. 1064 00:54:52,840 --> 00:54:54,320 - I'm always a suit-pant guy. - Okay. 1065 00:54:54,560 --> 00:54:56,440 - Oh! - Come on! 1066 00:54:56,520 --> 00:54:58,160 And, did your parents check 1067 00:54:58,240 --> 00:55:00,560 your ROI on oxygen also as a child? 1068 00:55:00,680 --> 00:55:03,760 - Yes. - Because, you talk non-stop, without taking a breath. 1069 00:55:04,160 --> 00:55:06,040 I saw Aman and my energy went high. 1070 00:55:06,160 --> 00:55:08,720 So, Aman brought you energy. 1071 00:55:08,800 --> 00:55:11,120 Ritesh prompted you to have a start-up at the age of 19. 1072 00:55:11,200 --> 00:55:13,000 And, you stole Namita's line. 1073 00:55:13,520 --> 00:55:16,320 That's my verse that you recited. 1074 00:55:16,400 --> 00:55:18,560 Actually, that was Gulzar's... 1075 00:55:18,640 --> 00:55:20,400 [laughter] 1076 00:55:21,760 --> 00:55:23,920 Love it! You're right. 1077 00:55:24,880 --> 00:55:26,880 - And, you're a drop-out like him too? - Yes. 1078 00:55:27,280 --> 00:55:28,720 I mean, I never went to college. 1079 00:55:28,840 --> 00:55:29,960 I did complete my high school. 1080 00:55:30,040 --> 00:55:31,800 If I can give you a context about my journey. 1081 00:55:31,880 --> 00:55:34,120 Of course, tell us, Himanshu. We are very curious. 1082 00:55:38,040 --> 00:55:39,720 My journey began with TYE too. 1083 00:55:42,520 --> 00:55:44,520 So, we launched this company called as BookABuddy. 1084 00:55:44,680 --> 00:55:46,280 So, BookABuddy was a platform 1085 00:55:46,400 --> 00:55:48,520 where elderly or physically challenged people 1086 00:55:55,520 --> 00:55:57,920 We scaled, converted an idea into a product. 1087 00:55:58,000 --> 00:56:01,360 We made an app for it, we commercialised it too. 1088 00:56:01,520 --> 00:56:03,320 In fact, we won in TiE too. 1089 00:56:04,080 --> 00:56:07,160 This is TiE Rajasthan. Well, this was my life's first business pitch. 1090 00:56:07,240 --> 00:56:08,400 I was almost 13. 1091 00:56:08,560 --> 00:56:10,720 And these are the five co-founders in my first company. 1092 00:56:10,800 --> 00:56:12,480 Amazing! Amazing! 1093 00:56:12,560 --> 00:56:15,400 But then, we faced an option to either give up money or love. 1094 00:56:15,640 --> 00:56:17,200 Like, either you can focus fully 1095 00:56:17,280 --> 00:56:19,320 towards your education or your start-up. 1096 00:56:19,400 --> 00:56:22,600 I felt, I had had a taste of entrepreneurship 1097 00:56:22,680 --> 00:56:24,400 and that's what I wanted to do. 1098 00:56:24,600 --> 00:56:26,200 But, my other co-founders wanted to 1099 00:56:26,280 --> 00:56:28,040 continue with their IIT or JEE exams. 1100 00:56:28,280 --> 00:56:30,160 So, unfortunately, I had to close down that company. 1101 00:56:30,240 --> 00:56:31,440 But, I went and told my dad 1102 00:56:35,600 --> 00:56:38,840 me, Arnam and Naman gathered 1 lakh rupees each from our parents. 1103 00:56:38,960 --> 00:56:41,360 - You basically found other friends. - I found other friends. 1104 00:56:41,800 --> 00:56:44,000 We started this company called as SLSE. 1105 00:56:44,480 --> 00:56:47,000 And we started solving the supply chain problem. 1106 00:56:54,120 --> 00:56:56,280 Their labourers don't understand the technology. 1107 00:56:56,360 --> 00:56:57,760 Our problem was, how to solve 1108 00:56:57,840 --> 00:57:00,200 supply chain issues with minimum technology. 1109 00:57:01,200 --> 00:57:03,760 We had an app made with Rs. 1,60,000 1110 00:57:03,840 --> 00:57:07,160 and we scaled it at a monthly revenue of 1-1.5 lakhs. 1111 00:57:07,280 --> 00:57:10,600 And then, one of our client's friend learned about our company. 1112 00:57:10,680 --> 00:57:13,000 Then, he came to us after around 1-1.5 year 1113 00:57:13,120 --> 00:57:15,040 that we have a good product with very sorted technology. 1114 00:57:15,200 --> 00:57:16,440 He wanted to buy our product. 1115 00:57:26,800 --> 00:57:29,120 - I thought... - The company must not even be in your name. 1116 00:57:29,200 --> 00:57:32,120 Yes. Until very recently, my mom used to sign my cheques. 1117 00:57:32,200 --> 00:57:33,400 Always. 1118 00:57:33,840 --> 00:57:37,560 The first Rolls Royce car of my hometown, Jodhpur 1119 00:57:37,800 --> 00:57:41,160 was purchased by this handicraft and furniture business owner. 1120 00:57:41,920 --> 00:57:44,560 So, I was like, this industry has money, let me explore it. 1121 00:57:44,680 --> 00:57:47,080 So, I started a company, Asathi. 1122 00:57:47,240 --> 00:57:49,800 In Asathi, we used to do B2B furniture exports. 1123 00:57:49,920 --> 00:57:52,440 If a big businessman from India 1124 00:57:52,520 --> 00:57:55,160 built a building of 50 studio apartments in Dubai 1125 00:57:55,280 --> 00:57:58,480 I'll give him the end-to-end furniture for all 50. 1126 00:57:58,840 --> 00:58:02,000 So, in one year, that company... I was the solo founder... 1127 00:58:02,160 --> 00:58:04,520 We scaled to 2.7 million dollars in revenue. 1128 00:58:05,480 --> 00:58:08,640 - I was... - How did you suddenly reach USD? 1129 00:58:09,360 --> 00:58:10,920 - He was exporting. - Right. 1130 00:58:11,000 --> 00:58:12,880 - But, your company was in India, right? - No, Dubai. 1131 00:58:13,040 --> 00:58:15,680 - Your company was incorporated in Dubai? - Yes, ma'am. 1132 00:58:16,640 --> 00:58:18,480 - You made a revenue of 21 crores in it? - Yes. 1133 00:58:18,560 --> 00:58:21,720 - And, a gross margin of 50-60%. - So, what happened to it? 1134 00:58:21,880 --> 00:58:25,520 One of our biggest clients used to account for 70% of our revenue 1135 00:58:25,600 --> 00:58:27,200 and, he strategically acquired us. 1136 00:58:27,360 --> 00:58:31,280 I was almost 17. It was a 1-1.5 million dollar exit. 1137 00:58:31,760 --> 00:58:34,000 And... yes, that has been my journey. 1138 00:58:34,880 --> 00:58:37,400 You made a revenue of 2.5 million, but 1139 00:58:37,480 --> 00:58:39,560 you sold it for 1-1.5 million dollars? 1140 00:58:39,640 --> 00:58:42,440 Ma'am, so, it was 70% revenue coming from a single client. 1141 00:58:42,520 --> 00:58:43,480 How much did you make? 1142 00:58:43,560 --> 00:58:46,520 - 1.5-2 million. - 12 crores! 1143 00:58:46,840 --> 00:58:48,840 No, it was around 15-16. 1144 00:58:54,040 --> 00:58:55,360 What happened next? 1145 00:58:55,440 --> 00:58:56,720 Sir, after that, I felt... 1146 00:58:56,800 --> 00:59:00,080 I feel, knowledge and education are two very different things. 1147 00:59:01,040 --> 00:59:02,560 So, I did leave... 1148 00:59:02,640 --> 00:59:05,960 I did private schooling, and for 12th grade, I went to college. 1149 00:59:06,120 --> 00:59:08,560 I've always loved to read. I never make a lot of... 1150 00:59:08,920 --> 00:59:10,800 I mean, I always focus on very deep work. 1151 00:59:10,880 --> 00:59:13,080 Kunal loves Swami Vivekananda, so, I've... 1152 00:59:13,160 --> 00:59:15,480 He says, 'Rise, awaken, and don't sleep...' 1153 00:59:15,640 --> 00:59:17,280 'till you don't achieve your goal.' 1154 00:59:17,360 --> 00:59:19,720 So, I guess, I'm really moving towards attaining that goal. 1155 00:59:19,840 --> 00:59:21,040 My god! 1156 00:59:21,760 --> 00:59:23,640 Okay, tell us about your current business now. 1157 00:59:23,720 --> 00:59:25,320 Nexera's beginning... 1158 00:59:25,400 --> 00:59:27,680 and commercialisation began this year in June. 1159 00:59:58,920 --> 01:00:00,440 so, I started a podcast. 1160 01:00:00,520 --> 01:00:02,200 It said, 'hey, we are launching this podcast.' 1161 01:00:02,280 --> 01:00:03,800 'Can you please come on the podcast and' 1162 01:00:04,000 --> 01:00:06,480 'give your insights?' So, we started inviting them. 1163 01:00:06,640 --> 01:00:08,000 I took them in my podcasts 1164 01:00:08,080 --> 01:00:10,840 and then, we would send a sales intern by mistake. 1165 01:00:10,920 --> 01:00:13,840 'Hi, sir. Pleasure to meet you. Can I also discuss my product with you?' 1166 01:00:14,040 --> 01:00:15,920 And then, we would line the call up, and then, a paid demo 1167 01:00:16,000 --> 01:00:17,240 and that's how, we would convert them. 1168 01:00:17,320 --> 01:00:18,160 My god. 1169 01:00:34,040 --> 01:00:35,160 Himanshu, tell me something. 1170 01:00:35,240 --> 01:00:37,720 - How is a CFO connected to health? - Sir, budget approval. 1171 01:00:38,520 --> 01:00:40,440 But, a CFO... 1172 01:00:40,560 --> 01:00:42,040 should see some value too. 1173 01:00:42,120 --> 01:00:44,800 - Sir, that's why... yes. - CHRO will clearly see the value. 1174 01:00:45,240 --> 01:00:47,520 - But, what value will a CFO see? - Cost, sir. 1175 01:00:47,680 --> 01:00:48,720 How? 1176 01:00:48,800 --> 01:00:51,000 Basically, if you use a single platform 1177 01:00:51,080 --> 01:00:53,040 we become a supermarket for them. 1178 01:00:53,160 --> 01:00:55,560 We have all the service providers, so, we get the best cost. 1179 01:00:55,680 --> 01:00:56,920 And, we can give them the best cost. 1180 01:00:57,000 --> 01:00:58,320 Tell us a little about your services. 1181 01:00:58,400 --> 01:01:00,240 What are they using? It's confusing. 1182 01:01:00,320 --> 01:01:01,360 Shall I show you a demo? 1183 01:01:01,560 --> 01:01:02,800 Yes, show a demo. 1184 01:01:03,600 --> 01:01:05,840 So, we'll begin with consultation. 1185 01:01:05,960 --> 01:01:09,240 Here, they can schedule consultations with doctors. 1186 01:01:09,320 --> 01:01:11,800 We have top-notch doctors from across different industries. 1187 01:01:21,120 --> 01:01:24,600 but, you can see past reports too, making it easier for you to access 1188 01:01:49,200 --> 01:01:50,520 Uh, we have some of the top... 1189 01:01:50,600 --> 01:01:53,400 One second. Do you answer questions, or do you just... 1190 01:01:53,760 --> 01:01:55,720 Sir asked me who made the technology. 1191 01:01:55,800 --> 01:01:57,960 So, I'm saying that we have a top-notch technology team. 1192 01:01:58,080 --> 01:02:00,480 - They made it. Yes, sir, sorry. So sorry. - No problem. 1193 01:02:00,680 --> 01:02:02,680 - Is the demo done? - Yes, sir. This was the demo. 1194 01:02:02,760 --> 01:02:06,080 These service providers, the consultants and doctors on this 1195 01:02:06,160 --> 01:02:09,280 - are on your rolls, or... - We work on a very operation-like model. 1196 01:02:09,360 --> 01:02:12,080 Like, the diagnostics and daily health team is in-house. 1197 01:02:21,320 --> 01:02:23,040 How many employees do you have in your team? 1198 01:02:23,320 --> 01:02:25,400 Sir, we have a 17 people full-time employed team. 1199 01:02:25,480 --> 01:02:28,640 - But, honestly, Himanshu, my question earlier. - Yes, sir. 1200 01:02:28,760 --> 01:02:31,760 - Why will a CFO find this proposition attractive? - Yes, sir. 1201 01:02:31,880 --> 01:02:33,840 That wasn't clear even after the demo. 1202 01:02:33,960 --> 01:02:36,080 So, basically, they need ROI. 1203 01:02:36,160 --> 01:02:37,680 They have simple expectations. 1204 01:02:37,760 --> 01:02:39,760 'I pay a 1 lakh salary to my employee' 1205 01:02:39,840 --> 01:02:41,520 'So, I need work done worth 1 lakh.' 1206 01:02:41,600 --> 01:02:44,560 'I don't care about your health.' That's the ground reality. 1207 01:02:44,840 --> 01:02:48,800 So, how can we have multiple KPIs integrated across the platform 1208 01:02:48,920 --> 01:02:51,800 that show that if your employee did work worth Rs. 10 1209 01:02:51,920 --> 01:02:54,080 by paying us Rs. 1, he may work worth Rs. 13. 1210 01:02:54,160 --> 01:02:55,640 So, how do you deduce ROI? 1211 01:02:55,720 --> 01:02:59,560 Our KPIs track employees on five key aspects. 1212 01:03:18,240 --> 01:03:21,200 If I ask you, do you have a company in your mind for end-to-end? 1213 01:03:21,280 --> 01:03:23,280 - You can't think of one. - Because, we don't need any. 1214 01:03:23,480 --> 01:03:26,120 Like, Practo, for example, it's not in enterprise. 1215 01:03:26,200 --> 01:03:27,160 It's not in enterprise. 1216 01:03:27,240 --> 01:03:29,040 Consider MediBuddy, for example. 1217 01:03:29,200 --> 01:03:31,920 That can be one of our competitors. Talking about mental health 1218 01:03:32,000 --> 01:03:34,120 MindPeers is an example, YourDOST is another. 1219 01:03:34,200 --> 01:03:35,880 So, there are services for different segments 1220 01:03:36,000 --> 01:03:38,840 - not a singular one. - I disagree. 1221 01:03:39,440 --> 01:03:40,240 There are a lot of platforms. 1222 01:03:40,320 --> 01:03:43,440 Nobody is able to focus on preventive care or, on habit building. 1223 01:03:43,520 --> 01:03:45,840 They have a platform where end-to-end is available. 1224 01:03:45,920 --> 01:03:47,720 I'm taking a service. Now, I will reach out to them 1225 01:03:47,800 --> 01:03:49,760 that I need ambulance service. 1226 01:03:49,880 --> 01:03:51,720 Or, I need this service. 1227 01:03:51,880 --> 01:03:54,040 So, they'll link me to their partner. 1228 01:03:54,280 --> 01:03:56,760 Where, there won't be much quality assessment. 1229 01:03:56,880 --> 01:03:59,440 But, the fact that companies like have scaled so much? 1230 01:03:59,680 --> 01:04:02,280 - They must have quality, good on-boards. - They've not, ma'am. 1231 01:04:02,360 --> 01:04:03,840 Only then, the company has this valuation... 1232 01:04:03,920 --> 01:04:06,320 I feel, they've not. Amidst 1.4 billion Indians 1233 01:04:06,440 --> 01:04:10,400 if you build a 5 billion company, I don't consider it a large scale. 1234 01:04:10,600 --> 01:04:12,680 Healthcare is the biggest industry in this country. 1235 01:04:12,840 --> 01:04:14,320 And, if you're stuck at 5 billion 1236 01:04:14,400 --> 01:04:17,080 you've not really made it in this industry, to be honest. 1237 01:04:17,160 --> 01:04:19,920 Tell me something. You said, you do podcasts. 1238 01:04:20,320 --> 01:04:22,640 - When did you start podcasts? - It's been 2 months. 1239 01:04:30,760 --> 01:04:31,960 Sales? He's asking about podcasts. 1240 01:04:32,040 --> 01:04:34,000 - Why are you going to sales? - Sorry, okay. 1241 01:04:34,600 --> 01:04:36,400 We began the podcasts 2 months ago. 1242 01:04:36,480 --> 01:04:37,560 Whom did you bring? 1243 01:04:38,080 --> 01:04:40,040 2-3 different CFOs. 1244 01:04:40,200 --> 01:04:42,360 And, in these four months, you already got business too? 1245 01:04:42,480 --> 01:04:45,560 - Podcasts will bring business now. - Where did you get business from? 1246 01:04:45,920 --> 01:04:48,440 - Outbound, pure outbound. - So, why did you mention podcasts? 1247 01:04:48,520 --> 01:04:50,480 Because, you said, CFOs, CHROs... 1248 01:04:50,560 --> 01:04:53,960 Listen, on one side is a story, a narrative. 1249 01:04:54,120 --> 01:04:56,120 Story-telling, which you are excellent at. 1250 01:04:56,240 --> 01:04:59,360 - Sorry, I mean... - No, you said, podcasts have... 1251 01:04:59,560 --> 01:05:00,960 brought you business. 1252 01:05:01,040 --> 01:05:04,120 But, now you say, they haven't, they will in the future. 1253 01:05:04,280 --> 01:05:06,080 So, ma'am, I will just explain. 1254 01:05:06,160 --> 01:05:08,520 - Can you just drop the narrative for some time? - Okay, sure. 1255 01:05:08,600 --> 01:05:10,400 - I'm really sorry... - Himanshu, tell me something. 1256 01:05:10,480 --> 01:05:13,800 - You said, you did a revenue of 4.5 crores since June. - Yes, sir. 1257 01:05:14,080 --> 01:05:16,920 What are the companies primarily paying for? 1258 01:05:24,240 --> 01:05:26,440 2.4 crores is coming from the preventive part. 1259 01:05:26,560 --> 01:05:29,200 1.5 crores is from the diagnostics part. 1260 01:05:29,360 --> 01:05:31,720 And then, the remaining 50 lakhs is coming from the tele-health. 1261 01:05:31,800 --> 01:05:32,600 Which company is it? 1262 01:05:32,680 --> 01:05:34,360 HDFC is the biggest bank. 1263 01:05:34,520 --> 01:05:37,200 The largest client we are serving today is a company called QUAS. 1264 01:05:37,360 --> 01:05:39,160 It's a Hong Kong headquartered company. 1265 01:05:39,240 --> 01:05:40,800 We're serving its 3500 employees. 1266 01:05:40,880 --> 01:05:41,920 Himanshu, show us your website. 1267 01:05:42,080 --> 01:05:44,080 [tense music playing] 1268 01:05:45,800 --> 01:05:47,200 What do you do with AWS? 1269 01:05:47,560 --> 01:05:48,960 Sir, we have a partnership with them. 1270 01:05:49,080 --> 01:05:51,760 So, we have not written clients, we've written partners. 1271 01:05:51,880 --> 01:05:54,160 - So, it helps with building more... - Trust. 1272 01:05:54,280 --> 01:05:55,680 - Trust. - How are they a partner? 1273 01:05:56,720 --> 01:05:58,120 AWS has given us credits and 1274 01:05:58,200 --> 01:06:00,240 empowered under a start-up initiative. 1275 01:06:02,440 --> 01:06:04,520 Scroll back up for a minute. 1276 01:06:04,720 --> 01:06:06,120 - I have a question. - Yes, sir. 1277 01:06:06,200 --> 01:06:08,360 - Stop for a minute. - Yes, sir. 1278 01:06:08,440 --> 01:06:09,840 Look, what it says here... 1279 01:06:09,920 --> 01:06:11,880 - You say, they are your partners. - Yes. 1280 01:06:11,960 --> 01:06:14,000 - On the other side... - It says, 10,000 employees. 1281 01:06:14,080 --> 01:06:17,280 But, it says, trusted by 10,000 employees across the world. 1282 01:06:18,040 --> 01:06:19,440 So, if anyone sees this... 1283 01:06:19,520 --> 01:06:21,760 they'll feel that all of them 1284 01:06:21,840 --> 01:06:25,120 are your customers, whose employees are using it. 1285 01:06:25,200 --> 01:06:26,800 - Isn't that right? - Yes, my bad. 1286 01:06:27,200 --> 01:06:28,360 No, very bad. 1287 01:06:29,320 --> 01:06:30,080 Why did you do that? 1288 01:06:30,160 --> 01:06:31,160 Sir, this is a new website. 1289 01:06:31,240 --> 01:06:33,560 - To be honest, we made it 2 days before Shark Tank. - What?! 1290 01:06:33,840 --> 01:06:35,680 - No, no, no. - Just a second! 1291 01:06:36,600 --> 01:06:37,480 When did you start it? 1292 01:06:37,560 --> 01:06:39,320 No, the new website, with better designs. 1293 01:06:39,400 --> 01:06:40,280 Only for Shark Tank? 1294 01:06:42,240 --> 01:06:43,800 We improved the design, sir, that's all. 1295 01:06:43,880 --> 01:06:46,280 How many employees are actually using your service? 1296 01:06:46,360 --> 01:06:47,200 Actually using it? 1297 01:06:47,280 --> 01:06:50,200 We serve 6500 overall. We have month-on-month retentions... 1298 01:06:50,280 --> 01:06:53,000 - But, why have you written trusted by 10,000 employees? - 11,000. 1299 01:06:53,080 --> 01:06:53,920 It's 11,000. 1300 01:06:54,040 --> 01:06:55,680 - This is... - Look, Himanshu. 1301 01:06:55,760 --> 01:06:57,200 - Sorry. - Trust is a big word. 1302 01:06:57,320 --> 01:06:59,880 - Yes, sir. - It has to be earned and it is lost very easily. 1303 01:06:59,960 --> 01:07:02,400 - No, I'm really sorry. This was a mistake... - No, not sorry. 1304 01:07:02,760 --> 01:07:03,840 This is a misrepresentation. 1305 01:07:04,040 --> 01:07:07,800 You are selling a healthcare service to companies. 1306 01:07:08,000 --> 01:07:11,120 - What can be a more trusted service than that? - Absolutely, sir. 1307 01:07:11,280 --> 01:07:12,440 - Yes, yes. - And... 1308 01:07:12,680 --> 01:07:13,720 on the home screen... 1309 01:07:14,760 --> 01:07:17,320 on the very first page, the trust is broken. 1310 01:07:18,840 --> 01:07:21,120 I'm really sorry, sir. 1311 01:07:22,080 --> 01:07:23,360 Let me give you my perspective. 1312 01:07:29,520 --> 01:07:32,600 I mean, all this is already available in the market. 1313 01:07:33,360 --> 01:07:35,800 My second bigger issue is, when I... 1314 01:07:36,160 --> 01:07:37,880 took the names of 2-3 competitors 1315 01:07:37,960 --> 01:07:39,440 you were a little dismissive about it. 1316 01:07:40,480 --> 01:07:44,040 I think, you have to be paranoid 1317 01:07:44,120 --> 01:07:46,200 about your competition if you want to survive. 1318 01:07:53,080 --> 01:07:54,760 You cannot just be dismissive. 1319 01:07:55,560 --> 01:07:56,680 So, at this point... 1320 01:07:56,760 --> 01:07:59,200 I didn't find anything unique about your business. 1321 01:07:59,320 --> 01:08:00,800 And, for that reason, today I'm out. 1322 01:08:02,120 --> 01:08:04,400 Himanshu, the funds... 1323 01:08:04,480 --> 01:08:06,840 as investments that you want from us. 1324 01:08:07,400 --> 01:08:10,880 Should we give it for your 2-month-old business, 1325 01:08:11,720 --> 01:08:15,240 for being a smart entrepreneur and selling 2 businesses, 1326 01:08:15,720 --> 01:08:18,880 or for being a 19-year-old who's starting a business? 1327 01:08:19,640 --> 01:08:21,920 Sir, my father says that nothing is black and white. 1328 01:08:22,000 --> 01:08:23,280 There is a grey area in between. 1329 01:08:23,480 --> 01:08:25,320 It's the ideal combination of everything, I feel. 1330 01:08:25,400 --> 01:08:26,840 Give it for all of it. 1331 01:08:27,080 --> 01:08:28,920 Base it on a balance of everything. 1332 01:08:29,520 --> 01:08:31,400 But, you have 15 crores. 1333 01:08:31,480 --> 01:08:34,560 This is 75 lakhs. We can give this to the founder 1334 01:08:34,640 --> 01:08:36,320 of another company, who has no money. 1335 01:08:36,400 --> 01:08:37,720 I'm not just here for money. 1336 01:08:37,800 --> 01:08:39,880 I can raise a much larger round out there. 1337 01:08:40,640 --> 01:08:43,680 - But, it's more about being with you guys for... - Just a second. 1338 01:08:44,760 --> 01:08:47,880 You say, you can do a bigger round outside. Why didn't you do it? 1339 01:08:48,640 --> 01:08:49,880 We have got term sheets, ma'am. 1340 01:08:49,960 --> 01:08:52,280 - We've had direct offers before. - So, show us the term sheets. 1341 01:08:52,360 --> 01:08:55,400 Ma'am, that offer was, 1 million at 4 million. 1342 01:08:55,480 --> 01:08:57,200 It was around 2-3 months ago. 1343 01:08:57,320 --> 01:09:00,240 - Who sent it? - Sir, it was a Shanghai based family office. 1344 01:09:06,800 --> 01:09:09,960 Okay, very very impressive journey so far. 1345 01:09:10,720 --> 01:09:14,680 But, sometimes, there's a very important moment, when you... 1346 01:09:15,120 --> 01:09:16,640 It's called, release the agenda. 1347 01:09:16,840 --> 01:09:19,680 You plan everything that you want to say. 1348 01:09:19,760 --> 01:09:23,400 And, you get so obsessed with your narrative, your story 1349 01:09:23,680 --> 01:09:28,320 that then, your brainpower that has to go into listening 1350 01:09:28,480 --> 01:09:30,200 and answering is gone. 1351 01:09:31,240 --> 01:09:34,600 The moment you came, you displayed your story. 1352 01:09:34,800 --> 01:09:37,920 Your product, comprehensive solution, convincing the CFO 1353 01:09:38,000 --> 01:09:41,120 the CHROs, amazing sales, so many quotes. 1354 01:09:49,080 --> 01:09:52,720 We use MindPeers, YourDOST etc. for mental health. 1355 01:09:52,800 --> 01:09:54,440 And, someone else for insurance. 1356 01:09:54,600 --> 01:09:57,400 And, maybe, other companies for diagnostics, ambulances etc. 1357 01:09:57,560 --> 01:10:01,240 Why all this is needed in one place, and, what that solves. 1358 01:10:01,600 --> 01:10:03,400 I still haven't understood. 1359 01:10:04,040 --> 01:10:05,640 Good luck, I'm out. 1360 01:10:06,640 --> 01:10:08,640 - Thank you, good luck. - Okay, Himanshu. 1361 01:10:08,720 --> 01:10:09,760 Fundamentally... 1362 01:10:09,840 --> 01:10:12,560 I think, currently, this is a nice-to-have business. 1363 01:10:13,320 --> 01:10:16,760 And, perhaps the starting point of a business like this 1364 01:10:17,120 --> 01:10:18,920 should be with health insurance. 1365 01:10:20,040 --> 01:10:21,560 Like, we are investors in an 1366 01:10:21,640 --> 01:10:23,960 insurtech company that sells healthcare. 1367 01:10:24,160 --> 01:10:26,560 - They sell health care insurance, Nova. - Yes, of course. 1368 01:10:26,640 --> 01:10:29,080 So, they provide some such services too. 1369 01:10:29,320 --> 01:10:30,880 It may not be their focus 1370 01:10:30,960 --> 01:10:34,840 but, their entry point is always healthcare insurance. 1371 01:10:35,000 --> 01:10:36,800 So, they get entry everywhere. 1372 01:10:42,400 --> 01:10:43,640 I'm out today. 1373 01:10:43,840 --> 01:10:45,600 But, my support and wishes are always with you. 1374 01:10:46,080 --> 01:10:47,120 Thank you so much. 1375 01:10:48,520 --> 01:10:49,880 So, Himanshu, maybe... 1376 01:10:50,520 --> 01:10:53,880 At 19, you built three companies, I was still starting. 1377 01:10:54,360 --> 01:10:58,320 You built three businesses, you generated 25-30 crores 1378 01:10:58,640 --> 01:11:00,480 cash in hand. 1379 01:11:00,560 --> 01:11:02,720 I can honestly tell you, I was nowhere near 1380 01:11:02,800 --> 01:11:05,320 as well-spoken and clear as you at the age of 19. 1381 01:11:05,640 --> 01:11:09,920 So, firstly, congratulations to you for doing a great job to get here. 1382 01:11:11,600 --> 01:11:14,880 Today, I felt, you seemed to be in a hurry. 1383 01:11:15,280 --> 01:11:18,080 - I was really conscious, and... - You said 2-3 times... 1384 01:11:18,320 --> 01:11:19,040 I'm really sorry. 1385 01:11:19,120 --> 01:11:21,800 You said 2-3 times, 5 million is not much. 1386 01:11:23,720 --> 01:11:26,760 Look, when we're young and have big dreams 1387 01:11:26,840 --> 01:11:28,160 it is a good thing. 1388 01:11:28,440 --> 01:11:30,840 But, it always takes time to achieve them. 1389 01:11:30,920 --> 01:11:31,800 Absolutely. 1390 01:11:31,880 --> 01:11:34,520 Today, if we were not on Shark Tank 1391 01:11:35,120 --> 01:11:37,920 and, I had to choose the most 1392 01:11:38,360 --> 01:11:41,120 potential future founder 1393 01:11:41,800 --> 01:11:45,080 maybe I would have tried to support you without a thought. 1394 01:11:50,400 --> 01:11:52,800 If I'm unable to support 1395 01:11:52,920 --> 01:11:54,520 individuals like you, 1396 01:11:54,880 --> 01:11:57,880 then it would not be right for me to have seen through this journey. 1397 01:11:58,480 --> 01:12:02,120 I would love to try and find a way to meet you outside. 1398 01:12:02,440 --> 01:12:06,040 We have some initiatives where we support entrepreneurs like you. We can do that. 1399 01:12:06,840 --> 01:12:08,920 But unfortunately, your business 1400 01:12:09,080 --> 01:12:10,520 did not attract me. That's why I'm out. 1401 01:12:10,600 --> 01:12:12,600 - But I really wish you all the very best. - Thank you so much. 1402 01:12:14,320 --> 01:12:16,680 I think the successes that you've had, 1403 01:12:17,960 --> 01:12:18,960 were right. 1404 01:12:19,800 --> 01:12:22,080 There is a slight... I won't use the word arrogance, 1405 01:12:22,280 --> 01:12:24,200 that's not the right word, 1406 01:12:24,400 --> 01:12:25,520 but there is a hangover 1407 01:12:26,280 --> 01:12:29,040 which is slightly visible in this. 1408 01:12:30,000 --> 01:12:31,320 If you would have come here 1409 01:12:31,440 --> 01:12:33,240 as a person, 1410 01:12:33,600 --> 01:12:34,760 as a 19-year-old. 1411 01:12:34,880 --> 01:12:37,040 there would be a 75 per cent chance that I would support you. 1412 01:12:37,320 --> 01:12:39,320 I love supporting young guys. 1413 01:12:40,560 --> 01:12:42,080 You said that you sold one business. 1414 01:12:47,000 --> 01:12:48,080 I was there. 1415 01:12:49,320 --> 01:12:50,600 Do you know where you lost me? 1416 01:12:51,400 --> 01:12:53,240 In that hangover pill. 1417 01:12:53,520 --> 01:12:56,760 When you said, 'I'll get it outside, but I've still come here.' 1418 01:12:58,040 --> 01:13:01,600 'I got a term sheet from China. But due to India-China relations, we didn't do it.' 1419 01:13:01,720 --> 01:13:02,880 'I keep doing the podcast' 1420 01:13:02,960 --> 01:13:04,680 'and because of the podcast, I got business.' 1421 01:13:04,760 --> 01:13:06,320 But we found out that you did not get the business. 1422 01:13:07,680 --> 01:13:08,800 Am I right? 1423 01:13:09,240 --> 01:13:11,320 I will definitely take that and work on that. 1424 01:13:11,440 --> 01:13:13,800 I'm absolutely right. This is happening. 1425 01:13:14,840 --> 01:13:16,920 The hangover of the previous two businesses, 1426 01:13:17,200 --> 01:13:18,520 don't take it into this. 1427 01:13:19,000 --> 01:13:21,480 - I feel if I have your mentorship I will really... - Have a little... 1428 01:13:21,560 --> 01:13:23,600 You will not get my mentorship in this now. 1429 01:13:23,680 --> 01:13:25,440 Because I think you have to learn it on your own. 1430 01:13:26,680 --> 01:13:29,080 Bring some change in your thinking. 1431 01:13:29,960 --> 01:13:32,160 There is a little overconfidence. 1432 01:13:33,440 --> 01:13:34,520 I'll be out. 1433 01:13:34,920 --> 01:13:37,240 - Thank you, Himanshu. - Good luck. - Thank you. - You were fantastic. 1434 01:13:37,320 --> 01:13:39,520 - Thank you so much. - God bless you. - Wish you all the best. 1435 01:13:40,320 --> 01:13:43,120 [music playing] 1436 01:13:44,920 --> 01:13:46,320 [upbeat music playing] 1437 01:13:53,160 --> 01:13:54,680 Welcome to ACKO Change Makers 1438 01:13:54,760 --> 01:13:56,080 where we really welcome change. 1439 01:13:56,280 --> 01:13:59,200 We saw it portrayed beautifully over here on this change makers wall. 1440 01:13:59,320 --> 01:14:03,080 With the help of rising digital growth, we are making the legacy of a new culture. 1441 01:14:03,520 --> 01:14:05,960 And today's change maker, Himanshu, is with us. 1442 01:14:06,120 --> 01:14:07,640 You are bringing a very good change. 1443 01:14:07,720 --> 01:14:10,520 Every person gives 1/3 of their time 1444 01:14:10,720 --> 01:14:12,080 in their office. 1445 01:14:12,240 --> 01:14:15,840 This leads to an increase in stress. People are finding it tough 1446 01:14:15,960 --> 01:14:17,600 to manage their work-life balance. 1447 01:14:17,680 --> 01:14:21,240 You are not just finding a solution for it, but guiding people too. 1448 01:14:21,320 --> 01:14:23,560 Please tell our audience who are at home, 1449 01:14:23,640 --> 01:14:24,880 what changes they can bring in their daily life 1450 01:14:24,960 --> 01:14:28,440 so that they can better manage their mental health or stress. 1451 01:14:28,720 --> 01:14:32,120 Mental health and physical health are directly related. So first 1452 01:14:32,400 --> 01:14:34,760 you should have an avenue where you can express your emotions. 1453 01:14:35,000 --> 01:14:38,000 Or you could talk to a friend 1454 01:14:38,200 --> 01:14:40,680 or do journaling. Diary writing is quite a good avenue. 1455 01:14:40,960 --> 01:14:43,800 Secondly, doing some physical activity is an important aspect. 1456 01:14:43,960 --> 01:14:47,320 - Hmm. - Thirdly, they can watch videos of comedians like you. It'll do good. 1457 01:14:47,640 --> 01:14:49,760 I have found this guy today. 1458 01:14:50,160 --> 01:14:53,240 - You've already improved my mental health. - Welcome. 1459 01:14:53,440 --> 01:14:56,080 Thank you so much for the answer. You've brought a very good change. 1460 01:14:56,240 --> 01:14:57,920 Just like ACKO is transforming 1461 01:14:58,000 --> 01:15:00,880 the insurance landscape with their revolutionary offering. 1462 01:15:01,120 --> 01:15:04,040 Don't worry if your car breaks down midway. 1463 01:15:04,280 --> 01:15:06,680 You get roadside support with ACKO insurance 1464 01:15:06,840 --> 01:15:08,800 and real-time updates of car repairs. 1465 01:15:09,320 --> 01:15:11,760 We appreciate the change that you have brought. 1466 01:15:11,840 --> 01:15:13,360 We'd like to give you a gift 1467 01:15:13,520 --> 01:15:16,480 for your time on Shark Tank, on behalf of ACKO and Shark Tank. 1468 01:15:16,560 --> 01:15:18,120 [music playing] 1469 01:15:19,600 --> 01:15:20,720 Thank you. 1470 01:15:23,720 --> 01:15:26,240 When Sharks make the deals, only the pitchers don't benefit 1471 01:15:26,320 --> 01:15:27,600 but you also get a chance. 1472 01:15:27,680 --> 01:15:28,880 A golden opportunity. 1473 01:15:29,080 --> 01:15:31,480 I'm a very good host. I'm giving you the inside information. 1474 01:15:43,480 --> 01:15:45,400 What are you waiting for? Go. 1475 01:15:45,480 --> 01:15:46,880 Either Lenskart.com or check the Lenskart app. 1476 01:15:47,320 --> 01:15:49,440 'Ask the Shark.' 1477 01:15:56,840 --> 01:15:58,560 for today's shark. 1478 01:15:58,640 --> 01:16:01,280 I took 107 flights last year. 1479 01:16:01,480 --> 01:16:03,960 You can imagine how much I would have spent on hotels. 1480 01:16:04,200 --> 01:16:08,200 If you can sweetly sponsor my stays everywhere, 1481 01:16:08,360 --> 01:16:09,760 you have a global business. 1482 01:16:09,840 --> 01:16:12,880 - I think both of us travel frequently by air. - Hmm. 1483 01:16:13,160 --> 01:16:15,680 The difference is I get hotels 1484 01:16:15,800 --> 01:16:18,080 and holidays homes free of cost, across the world. 1485 01:16:18,480 --> 01:16:19,760 We will enable you too. 1486 01:16:19,840 --> 01:16:21,720 So, we have to just find an airline partner 1487 01:16:21,800 --> 01:16:24,040 - who is sweet enough to sponsor us. - Yes. 1488 01:16:24,240 --> 01:16:25,960 Find an airline shark. 1489 01:16:26,120 --> 01:16:28,160 On the next season of Shark Tank 1490 01:16:28,240 --> 01:16:30,320 we will surely get to see an airline partner. 1491 01:16:30,560 --> 01:16:33,760 Ritesh, many people have sent questions for you. 1492 01:16:34,000 --> 01:16:36,280 Today's question is from Sarthak, 1493 01:16:36,360 --> 01:16:38,600 he's 22 years old and from Baroda, Gujarat. 1494 01:16:54,640 --> 01:16:57,640 According to me, if you look at the businesses, 1495 01:16:58,240 --> 01:17:01,760 they have been made very technical these days. 1496 01:17:01,920 --> 01:17:05,280 Too many jargons are used. Like, 'Seed' and 'Series A,' etc. 1497 01:17:05,440 --> 01:17:06,520 Whatever we are seeing, 1498 01:17:06,600 --> 01:17:09,640 don't pay too much attention to the jargon, work on your business 1499 01:17:09,880 --> 01:17:11,720 and the others will teach you the jargon. 1500 01:17:11,920 --> 01:17:13,840 But the specific answer to your question 1501 01:17:13,920 --> 01:17:14,840 is that, 1502 01:17:14,960 --> 01:17:17,360 'Seed' means your business is in a very early stage. 1503 01:17:17,640 --> 01:17:20,400 Just like a seed, which has just been sown 1504 01:17:20,720 --> 01:17:24,160 without knowing if it will sprout, but you have the faith that it will. 1505 01:17:24,480 --> 01:17:27,040 Because of that reason, the investment will be very risky. 1506 01:17:27,120 --> 01:17:30,120 And investors try to ask for more ownership. 1507 01:17:30,200 --> 01:17:33,200 On the other hand, there are 'Series A.' In this, 1508 01:17:33,280 --> 01:17:35,200 your company has made the basic product fit into the markets. 1509 01:17:35,320 --> 01:17:37,800 Your numbers are increasing, profit is increasing 1510 01:17:38,160 --> 01:17:38,880 and if not, 1511 01:17:39,080 --> 01:17:42,000 then your product or software has relatively become mature. 1512 01:17:42,320 --> 01:17:44,440 Because of this, people invest in your numbers. 1513 01:17:44,960 --> 01:17:46,560 You've become a plant now. 1514 01:17:46,760 --> 01:17:49,600 So chance of becoming a tree is substantially greater. 1515 01:17:49,720 --> 01:17:52,840 I think I've explained about 'Seed' and 'Series A' 1516 01:17:52,920 --> 01:17:54,160 in the simplest of ways. 1517 01:17:54,240 --> 01:17:56,240 - I have a follow-up question if you'd like to answer. - Please. 1518 01:17:56,400 --> 01:18:00,400 When we go to business schools, like I did, a lot of business lingo is taught, 1519 01:18:00,480 --> 01:18:01,400 in theory, but, 1520 01:18:01,560 --> 01:18:06,200 do you think you learn more on the job or while executing 1521 01:18:06,320 --> 01:18:08,000 than actually going to a formal business school? 1522 01:18:08,080 --> 01:18:10,720 I have a genuine belief. 1523 01:18:10,800 --> 01:18:12,800 One should never let a university 1524 01:18:12,920 --> 01:18:14,240 interfere with education. 1525 01:18:14,320 --> 01:18:15,280 Oh, that's a good line. 1526 01:18:15,400 --> 01:18:16,640 - They are Mark Twain's words. - Hmm. 1527 01:18:51,600 --> 01:18:53,240 and ask your questions, choose your favourite Shark 1528 01:18:53,320 --> 01:18:54,640 and we'll be happy to address them. 1529 01:18:55,040 --> 01:18:56,000 Thank you.