1 00:00:23,360 --> 00:00:24,960 [music playing] 2 00:00:43,760 --> 00:00:45,160 [theme music playing] 3 00:01:08,200 --> 00:01:09,640 [theme music concludes] 4 00:01:09,720 --> 00:01:10,800 Greetings, Sharks. 5 00:01:10,920 --> 00:01:12,200 My name is Shashank Chourey 6 00:01:15,720 --> 00:01:19,160 I've been a helluva curious guy since childhood. 7 00:01:19,320 --> 00:01:20,640 I shouldn't have used that word. 8 00:01:20,800 --> 00:01:23,680 But I've been really curious since childhood. 9 00:01:23,800 --> 00:01:25,240 And owing to that curiosity, 10 00:01:25,320 --> 00:01:27,040 I've seen many adventures in life 11 00:01:27,240 --> 00:01:29,680 from hacking in IT to digital marketing 12 00:01:29,760 --> 00:01:30,760 and even fish farming. 13 00:01:31,360 --> 00:01:33,920 I've been extremely fond of perfumes since I was a kid. 14 00:01:34,200 --> 00:01:36,320 When I didn't have money as a kid, 15 00:01:36,400 --> 00:01:39,600 I'd fulfil that desire by collecting incense sticks and soaps. 16 00:01:39,720 --> 00:01:41,320 Once things got better, 17 00:01:41,640 --> 00:01:45,120 I experienced luxury fragrances as well as collected them. 18 00:01:45,560 --> 00:01:49,320 Once, I was gifting perfumes to my employees at the office. 19 00:01:49,440 --> 00:01:52,680 I noticed that the pricing of luxury perfumes was very high. 20 00:01:52,960 --> 00:01:55,000 My curiosity got the better of me. 21 00:01:55,120 --> 00:01:56,520 "Why are they so expensive?" 22 00:01:56,800 --> 00:01:58,320 Upon conducting research, I learned 23 00:01:58,400 --> 00:02:02,080 that most luxury brands work with very high margins. 24 00:02:02,160 --> 00:02:05,120 So, I thought of looking for perfumes that were not so costly. 25 00:02:05,240 --> 00:02:09,040 I saw they were spending more on branding, packaging and bottling 26 00:02:09,200 --> 00:02:12,400 and no real value was being added to the actual perfumes. 27 00:02:12,520 --> 00:02:14,000 That got me thinking again 28 00:02:14,080 --> 00:02:16,120 and I thought of doing something different. 29 00:02:16,640 --> 00:02:18,000 And EM5 came into being. 30 00:02:20,680 --> 00:02:22,600 EM5 is a perfume brand 31 00:02:22,840 --> 00:02:26,200 offering high-quality luxury fragrances to consumers 32 00:02:26,320 --> 00:02:27,680 at affordable rates. 33 00:02:32,040 --> 00:02:35,480 We redefined the technicalities of fragrances. 34 00:02:35,680 --> 00:02:37,720 We set up our own manufacturing unit 35 00:02:38,040 --> 00:02:39,880 and launched our products 36 00:02:39,960 --> 00:02:42,680 with minimalistic and simple packaging. 37 00:02:43,000 --> 00:02:45,720 Because of being effective, today, within just two years, 38 00:02:45,960 --> 00:02:48,840 we operate at a monthly run rate of Rs. 1.7 crores. 39 00:02:54,920 --> 00:02:58,680 I want to leave a mark of my scent in this growing industry, 40 00:02:58,920 --> 00:03:00,120 for which my ask is 41 00:03:00,400 --> 00:03:02,600 Rs. 70 lakhs for 2% equity. 42 00:03:06,520 --> 00:03:10,840 ...to experience the mystical, unseen and magical world of perfumes? 43 00:03:10,920 --> 00:03:11,920 Oh, my! 44 00:03:13,280 --> 00:03:14,800 Welcome, Shashank, to the Tank. 45 00:03:14,960 --> 00:03:18,760 Please give us your educational and family backgrounds. 46 00:03:18,840 --> 00:03:20,040 I did my schooling in Indore. 47 00:03:20,120 --> 00:03:21,560 Born and brought up in Indore itself. 48 00:03:21,920 --> 00:03:23,320 I've studied till the twelfth grade. 49 00:03:23,360 --> 00:03:25,920 I dropped engineering and took admission in electronics. 50 00:03:26,000 --> 00:03:29,680 My interest was in the IT field. 51 00:03:29,760 --> 00:03:31,240 You didn't study after twelfth grade! 52 00:03:31,320 --> 00:03:32,800 I went to college for a year. 53 00:03:33,040 --> 00:03:34,600 I taught my teachers a little bit. 54 00:03:35,080 --> 00:03:36,640 - As in? - [Anupam laughs] 55 00:03:37,920 --> 00:03:38,960 - As in? - He's joking. 56 00:03:39,040 --> 00:03:40,120 Sir, I... 57 00:03:40,200 --> 00:03:41,440 When I was in my first year, 58 00:03:41,520 --> 00:03:43,560 I used to give lectures at NIT and others. 59 00:03:43,800 --> 00:03:45,320 I had more exposure to IT. 60 00:03:45,440 --> 00:03:48,440 - Web security and network security... - You were basically a hacker. 61 00:03:48,640 --> 00:03:51,600 Yes. I don't prefer saying it because it sounds like I'm flaunting 62 00:03:51,680 --> 00:03:53,240 but yes, I was a professional hacker. 63 00:03:53,400 --> 00:03:55,520 Talking about my first job, sir. 64 00:03:55,720 --> 00:03:58,440 I hacked the website of the company's clients, 65 00:03:58,520 --> 00:04:00,240 told them to sell x services to their clients 66 00:04:00,280 --> 00:04:01,560 which I then offered to correct. 67 00:04:01,640 --> 00:04:04,600 When you hacked the company's website, didn't anyone file an FIR? 68 00:04:04,680 --> 00:04:05,840 No. Not hack them, sir. 69 00:04:05,920 --> 00:04:07,560 - We'd enlist the vulnerabilities. - Okay. 70 00:04:07,600 --> 00:04:08,600 Cite the loopholes. 71 00:04:08,680 --> 00:04:11,280 For instance, someone's shoelaces have come undone. We don't trip them. 72 00:04:11,280 --> 00:04:13,080 We tell them, "Your laces have come undone." 73 00:04:13,160 --> 00:04:14,920 "I can tie them for you or you might fall." 74 00:04:15,000 --> 00:04:15,840 Good analogy. 75 00:04:15,920 --> 00:04:17,960 So, I did a job for 7 to 9 months. 76 00:04:18,280 --> 00:04:21,360 After that, I started my own IT company. 77 00:04:21,800 --> 00:04:24,360 And thereafter, we kept growing. 78 00:04:24,440 --> 00:04:27,720 We were at a good scale by 2016. 79 00:04:27,920 --> 00:04:31,640 After that, I deviated. I wanted to do something else. 80 00:04:32,560 --> 00:04:35,720 In 2018, I decided to get into fragrances. 81 00:04:35,800 --> 00:04:36,920 I was very fond of it 82 00:04:37,000 --> 00:04:39,560 and I understand a few technicalities of how it works. 83 00:04:39,640 --> 00:04:41,360 We had just begun when the lockdown was imposed. 84 00:04:41,400 --> 00:04:44,080 EM5 was put on hold during the lockdown. 85 00:04:44,800 --> 00:04:46,360 We were concentrating on our business 86 00:04:46,440 --> 00:04:47,720 as it was booming back then. 87 00:04:47,920 --> 00:04:49,680 Everyone was working from home. 88 00:04:49,760 --> 00:04:51,120 It was a challenge for us 89 00:04:51,200 --> 00:04:54,680 to operate with these many people in a remote structure. 90 00:04:54,920 --> 00:04:57,360 We learned those things at that time and were all set. 91 00:04:57,440 --> 00:04:59,240 That brought in automation. 92 00:04:59,360 --> 00:05:01,800 When the lockdown ended, I appointed a CEO in the company. 93 00:05:02,000 --> 00:05:03,200 When I returned to work, 94 00:05:03,320 --> 00:05:05,240 I saw there wasn't much for me to do 95 00:05:05,520 --> 00:05:06,840 because everything was automated. 96 00:05:06,920 --> 00:05:10,000 If I tried to do something also, I'd end up ruining their processes. 97 00:05:10,080 --> 00:05:11,160 So, I'd just sit quietly. 98 00:05:11,240 --> 00:05:12,440 I got very bored. 99 00:05:12,520 --> 00:05:13,880 I'm not the kind of person 100 00:05:13,960 --> 00:05:16,800 who can sit idly at the office or home. 101 00:05:17,000 --> 00:05:21,440 In June 2022, we brought EM5 back which was in sleep mode. 102 00:05:22,680 --> 00:05:26,280 - You're a sleeping founder in one company. - Yes. 103 00:05:30,560 --> 00:05:32,320 - Which makes perfumes. - And a fish farm too. 104 00:05:32,360 --> 00:05:34,360 - Okay. What's that? - I started it during the lockdown. 105 00:05:34,400 --> 00:05:37,760 - Recirculatory Aquaculture System is a technology from Israel. - Okay. 106 00:05:37,840 --> 00:05:39,280 It is designed to produce fish 107 00:05:39,360 --> 00:05:41,880 - utilising minimum land area and water. - Okay. 108 00:05:42,040 --> 00:05:44,160 Are you still the founder of that company? 109 00:05:44,240 --> 00:05:45,960 - Sir... - Is that automated too? 110 00:05:46,080 --> 00:05:48,840 There's a guy on the farm. I went there six months ago. 111 00:05:49,760 --> 00:05:50,880 Who runs it? 112 00:05:51,320 --> 00:05:52,520 My colleague. 113 00:05:52,640 --> 00:05:54,040 Sir, I build a company... 114 00:05:54,120 --> 00:05:55,400 - Okay. - Set it up, 115 00:05:55,560 --> 00:05:58,600 give the shareholding to the person along with whom I started it 116 00:05:58,760 --> 00:06:00,520 and ask them to run operations too. 117 00:06:05,200 --> 00:06:07,120 - Okay. - Give it to me, I'll run the company for you. 118 00:06:07,120 --> 00:06:07,960 Okay, got it. 119 00:06:08,040 --> 00:06:09,720 What's India Infotech's revenue? 120 00:06:09,800 --> 00:06:11,920 India Infotech is a group of three companies. 121 00:06:12,040 --> 00:06:13,360 - Oh! - Whoa! 122 00:06:13,520 --> 00:06:15,040 [laughter] 123 00:06:15,320 --> 00:06:16,760 - No problem, tell us. - An illusion! 124 00:06:16,760 --> 00:06:18,000 - Tell us. - Yes, go on. 125 00:06:18,080 --> 00:06:19,200 Give us the sum total. 126 00:06:19,280 --> 00:06:22,400 - About Rs. 10-12 crores... - Rs. 10-12 crores annually? 127 00:06:22,520 --> 00:06:23,560 - Annual revenue. - Okay. 128 00:06:31,440 --> 00:06:33,240 - See, I think... - Hang on. 129 00:06:33,320 --> 00:06:35,320 - Shashank... - Let me speak. Wait. 130 00:06:35,400 --> 00:06:37,200 - Yes, tell us. - It'll show only two private limited companies. 131 00:06:37,200 --> 00:06:38,040 Just two! Okay. 132 00:06:38,120 --> 00:06:39,240 Two private limited companies 133 00:06:39,280 --> 00:06:41,000 - and the rest are proprietorships. - Yes. 134 00:06:41,160 --> 00:06:44,000 - I can provide all the documents. - No, it's fine. I was just asking. 135 00:06:44,080 --> 00:06:46,320 What's the scale of the fish farming? 136 00:06:46,480 --> 00:06:47,360 Sir, the scale is small. 137 00:06:47,440 --> 00:06:50,120 It has a revenue of about Rs. 1.5 crores 138 00:06:50,200 --> 00:06:51,720 with a profit of 30 to 40%. 139 00:06:51,800 --> 00:06:55,120 - How much profit comes to you? - Sir, 50%. 140 00:06:55,320 --> 00:06:58,080 50% of Rs. 50 lakhs. 141 00:06:58,240 --> 00:07:00,760 - So, Rs. 25 lakhs comes to you annually. - Yes. 142 00:07:12,560 --> 00:07:15,080 - No, the CEO... - He gets his pay. This is over and above. 143 00:07:15,160 --> 00:07:16,400 - He gets a salary. - After that. 144 00:07:16,440 --> 00:07:17,680 What is his salary? 145 00:07:17,840 --> 00:07:18,840 Rs. 3.5 lakhs, sir. 146 00:07:18,880 --> 00:07:19,920 - Monthly? - Yes. 147 00:07:20,400 --> 00:07:21,920 What does EM5 mean? 148 00:07:22,160 --> 00:07:23,680 - It has no meaning, ma'am. - I see. 149 00:07:23,960 --> 00:07:26,120 - Good. Chanel No 5. - Love it. 150 00:07:26,200 --> 00:07:29,560 - Number 5 has a story to it. - You borrowed "5" from it. 151 00:07:29,640 --> 00:07:32,560 No. Sir, if I'd used 7, we'd have been "MI7"! 152 00:07:32,760 --> 00:07:34,880 - A number's just a number. - Good one. 153 00:07:34,960 --> 00:07:36,200 - Good one. - Shashank! 154 00:07:36,280 --> 00:07:37,600 Can you show me the products? 155 00:07:37,760 --> 00:07:39,080 [music playing] 156 00:07:42,240 --> 00:07:43,920 - The three rightmost products are for you. - These? 157 00:07:43,960 --> 00:07:45,320 - That... - Did you pick them for me? 158 00:07:45,560 --> 00:07:47,960 It's easy to guess your choice. 159 00:07:48,080 --> 00:07:49,080 How so? 160 00:07:49,920 --> 00:07:52,040 Smell it and let me know if I got it right. 161 00:07:52,360 --> 00:07:54,120 [music playing] 162 00:07:57,080 --> 00:07:58,360 - Is this oud? - The third... 163 00:07:58,440 --> 00:08:00,800 - Yes, you can pick anything. - And I'll pick this also. 164 00:08:01,400 --> 00:08:02,400 It's good. 165 00:08:16,040 --> 00:08:18,000 The USP is that it doesn't blast. 166 00:08:18,080 --> 00:08:20,000 If you're attending a meeting, carry it in your pocket 167 00:08:20,040 --> 00:08:21,440 and apply it just before you enter. 168 00:08:21,520 --> 00:08:23,840 People won't complain of you being doused in perfume. 169 00:08:23,920 --> 00:08:26,320 It will have a smooth hug factor around you. 170 00:08:26,440 --> 00:08:27,280 Tell me something. 171 00:08:27,360 --> 00:08:30,280 - Many perfume brands have come to Shark Tank. - Yes. 172 00:08:30,400 --> 00:08:32,120 - Isak came in Season 1. - Yes. 173 00:08:32,200 --> 00:08:34,000 - Then Adil Qadri too. - Yes. 174 00:08:34,080 --> 00:08:37,040 So, how does the perfume industry work? 175 00:08:37,120 --> 00:08:39,480 And how do you differentiate between each other? 176 00:08:39,560 --> 00:08:42,080 Sir, if you want to launch perfumes, it's a three-hour job. 177 00:08:42,680 --> 00:08:45,000 Go to Ahmedabad or Gurugram. 178 00:08:45,080 --> 00:08:46,920 There are companies who'll do the job. 179 00:08:47,000 --> 00:08:48,440 They'll give you the ready products. 180 00:08:48,600 --> 00:08:50,160 Go to their studios. 181 00:08:50,240 --> 00:08:51,400 They'll show you the bottles, 182 00:08:51,440 --> 00:08:53,720 the cap, the outer packaging and some fragrances. 183 00:08:53,800 --> 00:08:56,160 Make your selection. Your brand will be ready in 3 hours 184 00:08:56,280 --> 00:08:57,800 and you'll get the delivery in a month. 185 00:08:58,040 --> 00:09:00,040 If you take Amazon or anyone else, 186 00:09:00,120 --> 00:09:02,920 you'll see 3-4 companies making the maximum brands. 187 00:09:03,320 --> 00:09:06,320 So, their technical expertise is the same as your product's. 188 00:09:06,640 --> 00:09:08,400 Your competition sits right beside you 189 00:09:08,480 --> 00:09:09,880 and is made by the same company. 190 00:09:10,120 --> 00:09:12,040 So, it doesn't take much time to build brands. 191 00:09:12,120 --> 00:09:15,400 You make a proprietary company manufactured by the same XYZ... 192 00:09:15,480 --> 00:09:18,440 If they can make similar fragrances like yours... 193 00:09:18,520 --> 00:09:19,520 They can't. 194 00:09:19,560 --> 00:09:20,800 What's the difference? 195 00:09:20,880 --> 00:09:22,600 You've got Aghori, sir. 196 00:09:22,880 --> 00:09:24,640 We've extracted the oil. 197 00:09:24,720 --> 00:09:28,240 - I disagree because Isak makes its own perfumes too. - Yes. 198 00:09:28,400 --> 00:09:29,600 What about Bella Vita? 199 00:09:29,720 --> 00:09:30,960 Third-party manufacturing, sir. 200 00:09:31,040 --> 00:09:32,520 They innovate their own scents. 201 00:09:32,600 --> 00:09:33,760 - Bella Vita is a... - Yes, they do. 202 00:09:33,800 --> 00:09:36,480 - Now, they are... - No, the biggest trend is, 203 00:09:36,560 --> 00:09:38,040 what a lot of these brands, 204 00:09:38,120 --> 00:09:39,920 including the one you named, are doing is this. 205 00:09:39,920 --> 00:09:43,400 They choose the global bestsellers of international luxury brands 206 00:09:43,600 --> 00:09:45,240 that sell for Rs. 10,000. 207 00:09:45,360 --> 00:09:48,120 They duplicate the same scent. 208 00:09:48,280 --> 00:09:51,600 - The difference in quality... - Isak failed but Bella Vita did it. 209 00:09:51,680 --> 00:09:52,800 So, what happens is 210 00:09:52,880 --> 00:09:55,160 the difference in quality, in international versus Indian, 211 00:10:01,560 --> 00:10:03,480 you can smell it for 12 hours. 212 00:10:09,240 --> 00:10:11,000 Okay. May I give you a demo? 213 00:10:12,760 --> 00:10:14,640 I have two fragrances here. 214 00:10:14,920 --> 00:10:16,400 An international high-end brand 215 00:10:16,480 --> 00:10:19,040 sold in the range of Rs. 10,000 to 20,000. 216 00:10:19,200 --> 00:10:21,320 I've sprayed it on the right strip. 217 00:10:22,680 --> 00:10:23,840 And on the left one, 218 00:10:25,240 --> 00:10:26,240 it's this version. 219 00:10:27,400 --> 00:10:30,200 You barely sprayed that one and spritzed yours a lot. 220 00:10:30,280 --> 00:10:32,400 - There's a difference. - No, two sprays and four sprays 221 00:10:32,440 --> 00:10:34,600 just to match the MCL. 222 00:10:39,520 --> 00:10:42,040 The international one is already more intense. 223 00:10:42,160 --> 00:10:44,640 No, it has more alcohol and hence is evaporating faster. 224 00:10:44,720 --> 00:10:46,480 - I'm an Indian consumer. - Yes. 225 00:10:46,560 --> 00:10:47,680 I want two things. 226 00:10:47,760 --> 00:10:50,560 - Intensity and long-lasting. - Okay. 227 00:10:50,920 --> 00:10:53,040 - This... - They're reverse proportional. 228 00:10:53,240 --> 00:10:54,360 Coming to the intensity. 229 00:10:54,440 --> 00:10:57,640 If there is a projection, the oil is bound to evaporate. 230 00:10:57,720 --> 00:10:59,720 The faster the evaporation, the faster will be the projection 231 00:10:59,760 --> 00:11:01,080 but the sooner it will finish also 232 00:11:01,080 --> 00:11:02,680 because the oil has evaporated. 233 00:11:02,760 --> 00:11:04,480 So, you claim 234 00:11:04,560 --> 00:11:07,800 that after 12 hours, this one will smell stronger. 235 00:11:07,920 --> 00:11:08,920 Mine will smell stronger. 236 00:11:09,000 --> 00:11:11,160 - Suppose I make you a conditional offer. - Okay. 237 00:11:11,240 --> 00:11:13,280 - This will smell stronger after 12 hours. - Done! 238 00:11:13,400 --> 00:11:14,800 - On any fragrance. - Okay, fine. 239 00:11:21,360 --> 00:11:22,360 What's a premix? 240 00:11:22,440 --> 00:11:24,400 It is used to blend these oils. 241 00:11:24,480 --> 00:11:25,640 Don't others do that? 242 00:11:25,840 --> 00:11:27,520 Everyone has their own formulations. 243 00:11:27,640 --> 00:11:29,080 For instance, a woody fragrance. 244 00:11:29,160 --> 00:11:30,400 Let's take Aghori. 245 00:11:30,480 --> 00:11:34,040 - Tonalid is a fixative or a base note of wood. - Yes. 246 00:11:34,120 --> 00:11:36,960 If tonalid is added to the fragrance, 247 00:11:37,040 --> 00:11:38,600 it won't disturb the fragrance profile 248 00:11:38,680 --> 00:11:39,920 but will increase the lasting. 249 00:11:40,040 --> 00:11:43,160 - Now, the... - There are so many perfumeries in the world 250 00:11:43,240 --> 00:11:45,920 and in India as well like Fogg and Kimirica. 251 00:11:46,000 --> 00:11:48,280 Why couldn't they do what you've done? 252 00:11:48,360 --> 00:11:50,160 Sir, because our benchmark was this. 253 00:11:50,240 --> 00:11:51,400 What was your benchmark? 254 00:11:51,480 --> 00:11:53,240 - This. - This is no big deal. 255 00:11:53,320 --> 00:11:56,560 Any branded... Any France-based perfume company. Any big brand. 256 00:11:56,960 --> 00:11:58,640 Until I didn't achieve that benchmark, 257 00:11:58,720 --> 00:12:00,720 I didn't launch my sprays in the market. 258 00:12:00,800 --> 00:12:03,080 - We only sold roll-ons until then. - I see. 259 00:12:03,480 --> 00:12:04,880 There are many products here. 260 00:12:04,960 --> 00:12:05,960 There is perfume, 261 00:12:06,720 --> 00:12:08,200 - beard... - Beard Balm. 262 00:12:19,200 --> 00:12:21,160 We sell Body Mists only in sets. 263 00:12:21,280 --> 00:12:22,560 Rs. 999 for a set of 3. 264 00:12:22,640 --> 00:12:23,880 Very expensive. 265 00:12:23,960 --> 00:12:25,320 Rs. 499 for Beard Balm. 266 00:12:25,440 --> 00:12:28,600 Rs. 999 for a 50 ml perfume spray bottle. 267 00:12:28,800 --> 00:12:31,720 Rs. 399 for the 15 ml perfume spray bottle. 268 00:12:31,800 --> 00:12:34,280 Rs. 899 for the 10 ml roll on. 269 00:12:34,400 --> 00:12:37,720 Rs. 249 for a single Solid Perfume. 270 00:12:37,840 --> 00:12:39,520 - Candle Rs. 249. - Okay. 271 00:12:39,680 --> 00:12:40,520 Tell me something. 272 00:12:40,600 --> 00:12:43,080 Let's talk about your perfumes and body mists. 273 00:12:43,240 --> 00:12:45,400 Relatively, what are their price points 274 00:12:45,560 --> 00:12:49,240 as compared to other products in your category? 275 00:12:49,320 --> 00:12:50,240 More or less the same. 276 00:12:50,320 --> 00:12:53,040 If you take a single item, Rs. 300 is the average price point. 277 00:12:53,120 --> 00:12:54,400 What is Bella Vita priced at? 278 00:13:18,040 --> 00:13:20,360 What's your long-term vision? What do you want to do? 279 00:13:20,440 --> 00:13:23,240 The perfume market in India is growing at a fast pace. 280 00:13:23,360 --> 00:13:25,160 The online statistics say otherwise, 281 00:13:25,280 --> 00:13:29,440 but if we take the top 5 or 6 perfume companies in India, 282 00:13:29,600 --> 00:13:32,520 they alone generate a business of at least Rs. 5,000 crores. 283 00:13:35,800 --> 00:13:37,160 What's their revenue? 284 00:13:37,280 --> 00:13:38,640 - Rs. 500 crores. - Rs. 500 crores. 285 00:13:38,680 --> 00:13:40,960 - How big is Titan SKINN? - It's bigger. 286 00:13:41,120 --> 00:13:42,680 Their distribution is vast. 287 00:13:42,800 --> 00:13:44,280 There are so many external factors... 288 00:13:44,360 --> 00:13:46,880 - What do you wish to make? - I can compare myself to Bella Vita 289 00:13:46,960 --> 00:13:49,040 because they are also majorly online. 290 00:13:49,280 --> 00:13:51,080 The brand started from scratch. 291 00:13:51,160 --> 00:13:52,720 - What do you want to build? - Titan is backed by Tata 292 00:13:52,720 --> 00:13:55,040 and has distribution channels of Zodiac and Eye Plus. 293 00:13:55,200 --> 00:13:57,600 Sir, extend Lenskart's distribution and I'll make a Titan out of this! 294 00:13:57,640 --> 00:13:58,640 He's doing that. 295 00:13:58,680 --> 00:14:01,800 - He's offering Lenskart's distribution in this season. - No. 296 00:14:01,920 --> 00:14:03,480 What do you wish to make in 5 years? 297 00:14:03,560 --> 00:14:05,800 Sir, making an online business of Rs. 500 crores 298 00:14:05,920 --> 00:14:07,400 in today's times isn't a big deal. 299 00:14:07,520 --> 00:14:10,080 So, you want to build a Rs. 500-crore business in 5 years. 300 00:14:10,240 --> 00:14:12,240 - Sooner. - You want to make it sooner. 301 00:14:12,360 --> 00:14:13,680 Okay, I've made my decision. 302 00:14:13,880 --> 00:14:14,960 [tense music playing] 303 00:14:16,520 --> 00:14:19,000 Your pro is you're very curious. 304 00:14:19,200 --> 00:14:22,520 Your con is that I found you overconfident 305 00:14:22,600 --> 00:14:24,600 about judging competition. 306 00:14:24,760 --> 00:14:27,240 - See, I think this is a very competitive category. - Yes. 307 00:14:27,360 --> 00:14:28,480 It has a lot of opportunity. 308 00:14:31,560 --> 00:14:34,600 If you can't think of building a business bigger than Titan's... 309 00:14:34,840 --> 00:14:36,400 It's possible to build. Why not? 310 00:14:36,480 --> 00:14:40,840 Your thinking and actions have to be that far-reaching 311 00:14:40,920 --> 00:14:43,880 - if you want this to be sustainable in the long term. - Hmm. 312 00:14:44,080 --> 00:14:48,760 I don't see that in your vision, thinking and actions as of now. 313 00:14:48,840 --> 00:14:49,880 So, I am out. 314 00:14:52,360 --> 00:14:53,360 Tell us about the sales. 315 00:14:53,480 --> 00:14:55,440 We did Rs. 1.7 crores last month. 316 00:15:20,360 --> 00:15:22,680 Last year, sir, Rs. 8.35 crores. 317 00:15:22,760 --> 00:15:24,240 - Crores! Very nice. - Yes. 318 00:16:00,840 --> 00:16:02,360 D2C and from Amazon as well. 319 00:16:02,440 --> 00:16:04,800 - You'll do both. - From our own website and Amazon as well. 320 00:16:04,880 --> 00:16:06,600 Okay. What's your current distribution like? 321 00:16:06,640 --> 00:16:08,000 How much on your own platform versus... 322 00:16:08,040 --> 00:16:09,800 - 70% from our own website. - Hmm. 323 00:16:09,920 --> 00:16:11,400 30% from marketplaces. 324 00:16:11,480 --> 00:16:15,080 And from marketplaces, 25% is from Amazon 325 00:16:15,160 --> 00:16:18,240 - and 5% is from other marketplaces. - Got it. 326 00:16:18,320 --> 00:16:20,040 - Have you raised funding? - No. 327 00:16:20,280 --> 00:16:21,640 How much have you invested in total? 328 00:16:21,680 --> 00:16:24,880 I've invested a total of Rs. 2.3 crores. 329 00:16:25,000 --> 00:16:28,040 We have an inventory of Rs. 1.7 crores at cost 330 00:16:36,800 --> 00:16:38,880 We run out of some or the other product. 331 00:16:39,160 --> 00:16:40,480 So, every month we have to procure 332 00:16:40,520 --> 00:16:42,560 an inventory of Rs. 50-60 lakhs at least 333 00:16:42,640 --> 00:16:45,360 although we don't have any debts, credits or loans. 334 00:16:45,480 --> 00:16:48,880 Shashank, I see a capability in you to go big. 335 00:16:49,800 --> 00:16:52,680 What other ideas are you currently working on? 336 00:16:52,760 --> 00:16:55,960 What if you quit this and appoint a CEO? 337 00:16:56,160 --> 00:16:58,400 - Do something else. - No, sir. This is a scalable market 338 00:16:58,440 --> 00:17:00,240 and this category is gaining momentum quickly. 339 00:17:00,680 --> 00:17:03,440 Switching would mean losing an opportunity. 340 00:17:03,920 --> 00:17:05,560 Whoever doesn't do it is going to be late. 341 00:17:05,760 --> 00:17:08,080 And I guess everything is on the right track. 342 00:17:08,160 --> 00:17:10,120 I just need some guidance and help 343 00:17:10,200 --> 00:17:12,680 because I've not been into this scale of business. 344 00:17:12,760 --> 00:17:15,280 When your business touches Rs. 100 or 500 crores, 345 00:17:15,400 --> 00:17:19,440 what paperwork is to be done, what must one predict and plan? 346 00:17:19,520 --> 00:17:22,120 One has to change their views to run a business of that magnitude. 347 00:17:22,280 --> 00:17:24,360 I need guidance on that. 348 00:17:24,840 --> 00:17:27,720 Here's the deal, Shashank. Generally, in lifestyle businesses, 349 00:17:27,920 --> 00:17:31,560 - one needs a brand, a story and a design language. - Yes. 350 00:17:31,720 --> 00:17:33,520 Talking about your packaging. 351 00:17:33,600 --> 00:17:35,080 These bottles are commonly available. 352 00:17:35,160 --> 00:17:36,760 - Anyone can sell perfume in this. - Yes. 353 00:17:36,840 --> 00:17:38,280 It's one of the simplest you can get. 354 00:17:38,360 --> 00:17:40,160 - This is very standard and simple. - Right. 355 00:17:40,320 --> 00:17:42,280 Nothing wrong with that. It looks okay. 356 00:17:42,640 --> 00:17:46,600 - When I look at the body mist and this packaging... - Yes? 357 00:17:46,720 --> 00:17:48,840 They will diminish the value of your perfume. 358 00:17:48,960 --> 00:17:49,960 Okay. 359 00:17:50,600 --> 00:17:52,720 This one is not bad. It's okay. 360 00:17:52,800 --> 00:17:55,280 I expect that other brands will have something similar. 361 00:17:55,400 --> 00:17:59,280 - So, now you get your products made and sell them, right? - Yes. 362 00:17:59,440 --> 00:18:02,800 But if you want to really touch Rs. 100 or 1,000 crores, 363 00:18:03,240 --> 00:18:07,360 you need to embrace a different story as well as direction, right? 364 00:18:08,080 --> 00:18:11,280 - That's what we did when we launched Aghori. - Okay. 365 00:18:11,360 --> 00:18:12,520 We created the story 366 00:18:12,760 --> 00:18:15,440 around the product we were going to launch. 367 00:18:15,560 --> 00:18:17,000 You'll get to see that connect 368 00:18:17,080 --> 00:18:19,040 in its packaging and bottling. So, we're learning. 369 00:18:19,120 --> 00:18:21,760 This fragrance was inspired by the character of an Aghori. 370 00:18:21,880 --> 00:18:22,760 What's an Aghori? 371 00:18:22,880 --> 00:18:25,840 - The Aghoris are basically sadhus. - Okay. 372 00:18:25,960 --> 00:18:28,120 - They reside at cremation grounds. - I see. 373 00:18:28,200 --> 00:18:31,120 - So, could this be an aspiration... - This is an aspiration. 374 00:18:31,200 --> 00:18:32,640 Imagine an Aghori. 375 00:18:32,720 --> 00:18:35,120 They dwell in charnel grounds and smear ashes on their bodies. 376 00:18:35,120 --> 00:18:36,240 - Does this sell? - Who... 377 00:18:36,400 --> 00:18:39,600 Sir, it's selling like crazy. It is priced at Rs. 1,999. 378 00:18:39,720 --> 00:18:40,880 - Are you serious? - Yes, sir. 379 00:18:40,920 --> 00:18:43,240 What percentage of your sales is this? 380 00:18:43,320 --> 00:18:44,720 Sir, it launched just last month 381 00:18:51,560 --> 00:18:53,040 Shashank, I'll make you an offer. 382 00:18:53,120 --> 00:18:54,240 Oh, my! 383 00:18:55,400 --> 00:18:57,600 You seem to me like a hustling founder. 384 00:18:57,680 --> 00:19:00,040 I think there are a few gaps and the market is cluttered, 385 00:19:00,160 --> 00:19:04,000 but I feel you can take this to a certain scale. 386 00:19:04,160 --> 00:19:06,760 So, my offer to you is Rs. 70 lakhs for 5% equity. 387 00:19:17,520 --> 00:19:19,080 [laughter] 388 00:19:19,200 --> 00:19:20,480 Are you ready to pay royalty? 389 00:19:21,120 --> 00:19:22,360 Um, I guess not. 390 00:19:23,360 --> 00:19:24,800 What's the problem with giving 1%? 391 00:19:24,920 --> 00:19:28,040 I feel that a royalty of 1% is a very small number, sir. 392 00:19:28,280 --> 00:19:29,560 The size of the business, 393 00:19:29,640 --> 00:19:32,520 - with the kind of returns I can deliver to you... - Got it. 394 00:19:32,600 --> 00:19:33,640 - In multiples x's. - And... 395 00:19:33,720 --> 00:19:34,960 In comparison to that... 396 00:19:35,040 --> 00:19:37,800 I don't want you to chase after that 1%. 397 00:19:37,920 --> 00:19:40,600 Give me an hour so I can take this to Rs 100 crores. 398 00:19:40,680 --> 00:19:41,800 So, I'll make you an offer. 399 00:19:44,560 --> 00:19:45,920 You don't need money. 400 00:19:46,640 --> 00:19:48,560 - Not exactly, I need knowledge. - Okay. 401 00:19:48,880 --> 00:19:50,680 You know who to go to then. 402 00:19:50,800 --> 00:19:52,360 - Rs. 70 lakhs... - [laughter] 403 00:19:52,800 --> 00:19:55,440 Rs. 70 lakhs... I'll make you two offers. 404 00:19:55,680 --> 00:19:58,320 Rs. 70 lakhs for 4% equity. 405 00:20:03,160 --> 00:20:05,560 Without royalty, Rs. 70 lakhs for 6% equity. 406 00:20:12,320 --> 00:20:15,480 That could even be borderline overconfidence. 407 00:20:15,680 --> 00:20:16,680 Here's why. 408 00:20:16,720 --> 00:20:21,280 I've already compared them over 15 minutes. 409 00:20:21,360 --> 00:20:23,360 You can see for yourself. I'll give them to you in the end. 410 00:20:23,400 --> 00:20:26,600 This fragrance is stronger even now which is the international one. 411 00:20:26,680 --> 00:20:29,240 So, when we vouch for our product with a lot of confidence 412 00:20:29,320 --> 00:20:30,720 and don't back it, 413 00:20:31,320 --> 00:20:32,840 it is a big problem, my brother. 414 00:20:34,440 --> 00:20:39,040 I mean, I found your product claim to be the most impressive thing, 415 00:20:39,520 --> 00:20:41,400 but that's not coming through yet. 416 00:20:41,640 --> 00:20:43,880 Maybe, your fragrance might get stronger by evening 417 00:20:44,080 --> 00:20:46,040 but I don't have the confidence yet. 418 00:20:46,120 --> 00:20:47,760 I can't take a bet on you. 419 00:20:47,920 --> 00:20:49,760 And you've got good offers. 420 00:20:49,920 --> 00:20:52,160 I suggest you go ahead with them. I'm out for now. 421 00:20:52,680 --> 00:20:53,680 Sure, ma'am. 422 00:20:53,920 --> 00:20:56,600 Look, Shashank. One Shark who backed out has Adil Qadri. 423 00:20:56,720 --> 00:20:59,520 He has Isak, so he's out too. No other reason. 424 00:20:59,600 --> 00:21:00,640 You're a hustler. 425 00:21:00,720 --> 00:21:03,280 You're the GOAT. And you know I run boAt. 426 00:21:03,480 --> 00:21:04,920 So, I'll make you an offer. 427 00:21:05,000 --> 00:21:06,520 [music playing] 428 00:21:08,200 --> 00:21:11,280 Rs. 70 lakhs for 6% equity same as Anupam's offer. 429 00:21:14,360 --> 00:21:16,720 because I want to work closely with you. 430 00:21:21,480 --> 00:21:22,960 [tense music playing] 431 00:21:26,920 --> 00:21:28,480 [tense music playing] 432 00:21:32,560 --> 00:21:33,400 - Right? - Right. 433 00:21:33,480 --> 00:21:35,680 Rs. 70 lakhs for 4% equity 434 00:21:35,960 --> 00:21:39,040 - with 1% royalty till he gets 1x of his money. - Right. 435 00:21:39,320 --> 00:21:41,160 Rs. 70 lakhs for 6% equity. 436 00:21:41,360 --> 00:21:42,920 Rs. 1 crore for 10% equity. 437 00:21:43,360 --> 00:21:45,760 Aman's offer is Rs. 70 lakhs for 6% equity. 438 00:21:45,840 --> 00:21:47,400 - Rs. 1 crore for 10% equity. - Rs. 1 crore for 10%. 439 00:21:47,440 --> 00:21:48,600 And Varun... 440 00:21:48,720 --> 00:21:50,600 I'll match Anupam's royalty offer. 441 00:21:50,720 --> 00:21:51,840 [music playing] 442 00:21:59,160 --> 00:22:00,560 [tense music playing] 443 00:22:03,720 --> 00:22:05,720 Aman, do we have royalty also in the deal? 444 00:22:05,800 --> 00:22:06,920 No, I don't have royalty. 445 00:22:11,880 --> 00:22:13,640 - I guess we have a deal. - Which one? 446 00:22:29,000 --> 00:22:30,040 [camera shutter clicking] 447 00:22:30,680 --> 00:22:32,520 No time, ma'am. I've to make Rs. 500 crores in 5 years. 448 00:22:32,560 --> 00:22:34,120 - Oh, my! - We will. 449 00:22:34,640 --> 00:22:36,360 - Good luck, buddy. - Thank you so much, sir. 450 00:22:36,360 --> 00:22:38,040 - Okay, good luck. - Excellent meeting you guys. 451 00:22:38,080 --> 00:22:38,880 Good one. 452 00:22:39,000 --> 00:22:40,960 'Aman is an outgoing personality.' 453 00:22:41,040 --> 00:22:42,600 'I feel like' 454 00:22:42,760 --> 00:22:44,640 I'll connect more with Aman. 455 00:22:44,720 --> 00:22:46,360 'The second good thing was he took 10% equity.' 456 00:22:46,360 --> 00:22:47,440 'So, I'm happy.' 457 00:22:47,640 --> 00:22:48,880 So, I know 458 00:22:48,960 --> 00:22:50,760 that since his 10% is involved 459 00:22:50,880 --> 00:22:52,760 and he has skin in the game. 460 00:22:53,000 --> 00:22:54,760 So, he'll give us time. 461 00:22:54,840 --> 00:22:57,800 He'll add whatever value he can to the company, 462 00:22:57,920 --> 00:22:58,920 not just the money. 463 00:22:59,080 --> 00:23:00,200 - Hello, Shashank. - Hello. 464 00:23:00,320 --> 00:23:02,480 - Congratulations on the deal. - Thank you. 465 00:23:02,560 --> 00:23:03,920 What made you do that? 466 00:23:04,040 --> 00:23:07,080 As soon as Aman made an offer, you seemed attracted to accept it. 467 00:23:07,200 --> 00:23:08,880 I felt that he was the person 468 00:23:08,960 --> 00:23:11,800 I could talk to freely and share things with. 469 00:23:12,000 --> 00:23:13,120 I personally don't know him, 470 00:23:13,160 --> 00:23:15,320 but from what I've seen on screen and in interviews... 471 00:23:15,400 --> 00:23:17,920 I believe work should be enjoyable 472 00:23:18,000 --> 00:23:19,040 and it will be with him. 473 00:23:19,120 --> 00:23:20,720 Plus, his industry experience... 474 00:23:20,840 --> 00:23:24,240 I mean, everybody knows that in D2C, there is no one... 475 00:23:24,320 --> 00:23:25,720 - He's a pro. - Absolutely. 476 00:23:25,800 --> 00:23:27,400 So, both those points ticked off. 477 00:23:27,480 --> 00:23:29,200 - There wasn't much to think about. - Great. 478 00:23:29,200 --> 00:23:32,240 Well, you were under a lot of stress and you ought to relax 479 00:23:32,360 --> 00:23:33,920 - because you've earned it. - Thanks a lot. 480 00:23:33,960 --> 00:23:36,480 So, I bought you a few things from Swiggy Instamart to help you relax. 481 00:23:36,520 --> 00:23:38,840 - How thoughtful! - Yes, sir. 482 00:23:44,320 --> 00:23:46,600 along with oils and a scalp massager. 483 00:23:46,680 --> 00:23:49,000 Look. It arrived in 10 minutes. 484 00:23:49,560 --> 00:23:50,800 - Thank you. - I saw on TV 485 00:23:50,880 --> 00:23:53,040 that people keep sipping on something while getting a spa. 486 00:23:53,040 --> 00:23:54,160 Yes, of course. 487 00:23:54,240 --> 00:23:56,000 - You know... - People are lying down 488 00:23:56,040 --> 00:23:58,920 - with cucumber slices on their eyes sipping on a drink. - Coconut water. 489 00:23:59,240 --> 00:24:00,600 You want coconut water, right? Say so. 490 00:24:00,600 --> 00:24:01,920 It's daytime. Coconut water will do. 491 00:24:01,920 --> 00:24:03,960 Ah, It's daytime! Absolutely. 492 00:24:04,240 --> 00:24:05,280 No problem, I'll order it. 493 00:24:05,360 --> 00:24:06,640 - It'll arrive in 10 minutes. - Perfect. 494 00:24:06,680 --> 00:24:09,040 - You name it, Swiggy Instamart will get it. - Perfect, sir. 495 00:24:09,280 --> 00:24:11,160 And you too can order whatever you want 496 00:24:11,240 --> 00:24:12,920 be it day or night. 497 00:24:13,000 --> 00:24:14,960 It'll arrive in 10 minutes. 498 00:24:15,160 --> 00:24:16,160 Order now. 499 00:24:30,640 --> 00:24:32,560 [theme music playing] 500 00:24:55,080 --> 00:24:56,960 [theme music concludes] 501 00:24:57,120 --> 00:24:59,320 Sharks, I wish to show you something. 502 00:24:59,680 --> 00:25:02,640 Look at these pictures. What do you think? 503 00:25:02,920 --> 00:25:04,320 Is that an apple? 504 00:25:05,840 --> 00:25:06,640 No. 505 00:25:06,720 --> 00:25:07,720 A pear? 506 00:25:08,760 --> 00:25:10,600 An hourglass? No. 507 00:25:11,160 --> 00:25:13,640 Sharks, these aren't just objects. 508 00:25:13,760 --> 00:25:15,800 - They are body types. - Oh my God. 509 00:25:16,680 --> 00:25:20,960 That belong to me, Vineeta and millions of Indian women. 510 00:25:21,440 --> 00:25:23,960 When it comes to inclusivity and diversity, 511 00:25:24,040 --> 00:25:26,240 India has no match. 512 00:25:26,400 --> 00:25:29,400 And a lovely part of this diversity includes 513 00:25:29,480 --> 00:25:31,480 the diverse curves of Indian women. 514 00:25:32,720 --> 00:25:33,840 For the longest time, 515 00:25:33,920 --> 00:25:38,320 we've been adjusting to the same old US and UK standard sizes, 516 00:25:38,440 --> 00:25:39,680 and in this day and age 517 00:25:39,760 --> 00:25:42,200 when Indian women are literally killing it 518 00:25:42,280 --> 00:25:44,080 in every segment of their lives. 519 00:25:44,160 --> 00:25:47,680 We do not want to settle for anything less than perfect. 520 00:25:48,120 --> 00:25:50,680 So, we came up with WomanLikeU. 521 00:25:53,320 --> 00:25:55,720 WomanLikeU is a vacation-wear brand 522 00:25:55,800 --> 00:25:58,960 that is specifically engineered for Indian body types 523 00:26:03,160 --> 00:26:05,480 ...and women like them. 524 00:26:09,240 --> 00:26:10,640 [upbeat music playing] 525 00:26:13,160 --> 00:26:14,160 Oh! 526 00:26:51,920 --> 00:26:56,120 Sharks, the modern-day consumers are well-versed with every sector 527 00:26:56,320 --> 00:26:58,040 but when it comes to clothing, 528 00:26:58,120 --> 00:27:01,360 they don't know what would suit their body type. 529 00:27:01,480 --> 00:27:05,040 Imagine a woman from the Northeast and the other from down South. 530 00:27:05,120 --> 00:27:06,120 Both are Indian 531 00:27:06,160 --> 00:27:08,400 and both might possibly be a size XL. 532 00:27:08,640 --> 00:27:11,240 However, their body structures are so different 533 00:27:11,480 --> 00:27:13,960 that one might be pear-shaped and the other, heart-shaped. 534 00:27:14,120 --> 00:27:18,360 The same print, cut and silhouettes wouldn't suit them both. 535 00:27:18,440 --> 00:27:19,720 To solve this problem, 536 00:27:19,800 --> 00:27:22,320 we came up with an easy and simple solution. 537 00:27:22,440 --> 00:27:25,440 We standardised the body types of Indian women. 538 00:27:25,560 --> 00:27:29,200 Today, 100% products of WomanLikeU are engineered 539 00:27:37,600 --> 00:27:39,640 ...to find out their body type. 540 00:27:44,600 --> 00:27:47,400 and make an informed buying choice. 541 00:27:54,880 --> 00:27:56,040 which was swimwear. 542 00:28:00,480 --> 00:28:03,720 selling the remaining categories would be comparatively easier. 543 00:28:03,840 --> 00:28:05,240 So, after swimwear, 544 00:28:13,920 --> 00:28:15,120 Our vision is 545 00:28:15,200 --> 00:28:19,120 to become a one-stop shop for vacation wear in the next 5 years. 546 00:28:19,560 --> 00:28:22,760 And our ask is Rs. 1 crore for 2% equity. 547 00:28:28,960 --> 00:28:30,240 Shrijal and Zoheib! 548 00:28:30,800 --> 00:28:33,680 I want to tell you that I watched your slide show 549 00:28:33,760 --> 00:28:37,400 and I bought one of the swimsuits with the sarong that came on it. 550 00:28:37,480 --> 00:28:39,040 - Oh, wow! - I have it and I really like it. 551 00:28:39,080 --> 00:28:40,440 - Oh, that's so good to know. - Thank you so much. 552 00:28:40,480 --> 00:28:42,840 For me, I didn't go through the journey 553 00:28:42,960 --> 00:28:44,760 of figuring out my body shape. 554 00:28:44,840 --> 00:28:47,320 I liked it on Instagram and bought it. 555 00:28:47,640 --> 00:28:49,880 So, before we get into the business, 556 00:28:50,000 --> 00:28:52,080 - maybe, if you want to let the models go... - Yes. 557 00:28:52,200 --> 00:28:53,080 Thank you, girls. 558 00:28:53,160 --> 00:28:54,840 - Thank you so much. You were stunning. - You're lovely. 559 00:28:54,880 --> 00:28:56,600 - You were really good. - Thank you, guys. 560 00:28:59,560 --> 00:29:02,040 - Tell us a little about your journey. - Sure. 561 00:29:02,120 --> 00:29:04,920 How do you know each other and how did you two meet? 562 00:29:05,000 --> 00:29:07,520 And when and how did the idea occur to you? 563 00:29:07,640 --> 00:29:09,280 I was born and brought up in Ranchi. 564 00:29:09,360 --> 00:29:12,200 After my schooling, I went to NIFT, Kolkata. 565 00:29:12,360 --> 00:29:16,040 After graduating, I worked with a lot of Indian and global brands. 566 00:29:16,120 --> 00:29:18,280 When I was working with UK brands, 567 00:29:18,400 --> 00:29:20,680 garment tech there was at the core. 568 00:29:20,760 --> 00:29:23,720 Shapes, fittings, fabric technology and production technology 569 00:29:23,800 --> 00:29:25,720 play a very crucial role. 570 00:29:25,800 --> 00:29:26,960 Brands are built on them. 571 00:29:27,160 --> 00:29:29,040 When I worked with Indian brands, 572 00:29:29,120 --> 00:29:31,160 the lack of Indian sizes and all, 573 00:29:31,240 --> 00:29:33,080 it didn't turn out that great. 574 00:29:33,280 --> 00:29:34,720 That seed was inside me. 575 00:29:34,800 --> 00:29:38,120 I had to solve this because the population was large. 576 00:29:38,440 --> 00:29:41,080 Then I joined a start-up, launched brands there. 577 00:29:41,160 --> 00:29:42,280 That's where we met. 578 00:29:42,360 --> 00:29:43,920 - Which start-up? - She joined as the Head of Design. 579 00:29:43,920 --> 00:29:45,120 It was called Voonik. 580 00:29:45,320 --> 00:29:46,640 - Voonik! I know Voonik. - Voonik. 581 00:29:46,680 --> 00:29:49,040 - Of course. - I joined them as VP for private labels. 582 00:29:49,120 --> 00:29:50,800 - In fact, I launched private labels there. - Oh. 583 00:29:50,800 --> 00:29:52,840 So, we said, let's do this. 584 00:29:52,960 --> 00:29:55,200 Of course, Shrijal and I were already in talks. 585 00:29:55,440 --> 00:29:59,360 I was born and brought up in Delhi but my family is from Gujarat. 586 00:29:59,440 --> 00:30:02,480 I wanted to be a fashion designer since childhood. 587 00:30:02,560 --> 00:30:06,000 As a girl, I wrote this in all my essays too. 588 00:30:06,080 --> 00:30:09,000 I'd make sketches of garments at the back of all my notebooks. 589 00:30:09,080 --> 00:30:10,600 And that's exactly what I did. 590 00:30:14,720 --> 00:30:15,880 When you say vacation wear, 591 00:30:15,960 --> 00:30:18,400 define the categories as well, as of today. 592 00:30:18,480 --> 00:30:21,240 We started out as a swimwear brand which was our first category. 593 00:30:21,320 --> 00:30:22,960 Recently, we've launched dresses, 594 00:30:23,040 --> 00:30:25,280 corsets as well as essentials. 595 00:30:25,360 --> 00:30:27,960 In essentials, we have Boob Tape, Stick-on Bras... 596 00:30:28,040 --> 00:30:29,720 So, primarily, these are our categories. 597 00:30:29,800 --> 00:30:31,840 What's the scenario of swimwear in India? 598 00:30:31,920 --> 00:30:34,640 The market is about Rs. 1,500 crores. 599 00:30:34,720 --> 00:30:36,360 - Women? Women's swimwear. - Women's swimwear. 600 00:30:36,360 --> 00:30:39,160 You displayed five body types. 601 00:30:39,360 --> 00:30:42,240 What style would suit each body type? 602 00:30:42,320 --> 00:30:45,280 Show us the mapping with examples. 603 00:30:45,440 --> 00:30:49,080 The most common body type is a heavy bust and broader hips. 604 00:30:49,160 --> 00:30:51,600 - Pear and heart-shaped bodies. - Yes. 605 00:30:51,680 --> 00:30:53,520 For a heart-shaped body let's say, 606 00:30:53,600 --> 00:30:55,080 there will be an adjuster at the back. 607 00:30:55,080 --> 00:30:57,800 If you pull it down or up, the top portion will expand. 608 00:30:57,880 --> 00:30:59,040 Please show us an example. 609 00:30:59,160 --> 00:31:00,880 - Sure. - We cannot visualise it. 610 00:31:03,880 --> 00:31:05,200 For example, this dress. 611 00:31:05,280 --> 00:31:07,880 We added a lot of elastic at the back 612 00:31:07,960 --> 00:31:10,240 which is ideal for a heart-shaped body 613 00:31:10,320 --> 00:31:12,760 because it can expand a lot from here. 614 00:31:12,840 --> 00:31:14,360 So, owing to this technicality, 615 00:31:14,440 --> 00:31:17,200 it will fit a heart-shaped body well. 616 00:31:17,280 --> 00:31:19,880 There are some products here also for you guys to touch and feel. 617 00:31:20,000 --> 00:31:21,320 [music playing] 618 00:31:36,920 --> 00:31:38,640 I have this, guys! 619 00:31:39,000 --> 00:31:40,000 This is the one I have. 620 00:31:40,120 --> 00:31:41,560 - Show us the calculator. - Sure. 621 00:31:41,640 --> 00:31:43,440 When a buyer visits our website, 622 00:31:43,560 --> 00:31:45,920 they can see a body type calculator on the home page itself. 623 00:31:49,880 --> 00:31:51,880 You need to enter your bust, waist, 624 00:31:52,440 --> 00:31:54,560 high hip and low hip here. 625 00:31:54,760 --> 00:31:57,440 Then our system will tell you... 626 00:31:58,480 --> 00:32:00,000 Let's say you're oval-shaped. 627 00:32:00,200 --> 00:32:03,400 Now you have the information you didn't have. 'I am oval.' 628 00:32:03,560 --> 00:32:06,320 Then you can go to the oval-shaped curated collection. 629 00:32:06,400 --> 00:32:08,520 And then according to your choice... 630 00:32:08,600 --> 00:32:10,960 Understood! What percentage? I'll just pause you there. 631 00:32:11,080 --> 00:32:13,720 What percentage of your buyers 632 00:32:13,880 --> 00:32:16,120 use this process to make a purchase? 633 00:32:16,200 --> 00:32:18,400 Around 50%-60% of people 634 00:32:18,600 --> 00:32:20,360 use this calculator before making a purchase. 635 00:32:23,400 --> 00:32:24,800 No, that's fine. That's a good number. 636 00:32:24,840 --> 00:32:26,640 Say I purchased without using the calculator, 637 00:32:26,760 --> 00:32:28,240 will you change the product? 638 00:32:28,320 --> 00:32:30,680 No! You can totally go for that. That's totally up to you. 639 00:32:30,760 --> 00:32:34,120 But our USP is that if you 640 00:32:34,240 --> 00:32:37,040 have a specific body type or an area of concern, 641 00:32:37,120 --> 00:32:39,360 something many women experience, trust me. 642 00:32:39,480 --> 00:32:42,560 Some wish to hide certain parts, while others aim to accentuate them. 643 00:32:42,880 --> 00:32:44,600 When they express their concerns, 644 00:32:44,680 --> 00:32:46,760 we provide recommendations accordingly, 645 00:32:46,880 --> 00:32:49,400 giving them the impression of complimentary styling. 646 00:32:49,480 --> 00:32:51,240 Labelling body types 647 00:32:51,560 --> 00:32:53,120 as pear, apple, hourglass, or heart, 648 00:32:53,320 --> 00:32:56,080 doesn't that in some way objectify women? 649 00:32:57,080 --> 00:32:59,080 If you want to stand out 650 00:32:59,280 --> 00:33:02,680 as an inclusive and anti-discriminatory brand, 651 00:33:02,960 --> 00:33:06,880 you might need to rethink such terms. 652 00:33:06,960 --> 00:33:10,000 You need to come up with something different. I think! 653 00:33:10,080 --> 00:33:11,160 It depends totally on you. 654 00:33:11,400 --> 00:33:14,600 No, that is a good point. We will think about it. 655 00:33:15,400 --> 00:33:17,440 You said it is a Rs. 1,500 crore market. 656 00:33:17,520 --> 00:33:19,520 You couldn't penetrate much in it 657 00:33:19,600 --> 00:33:21,000 and before that, you expanded the category. 658 00:33:21,000 --> 00:33:24,440 Because A, we were chasing profitability. 659 00:33:24,520 --> 00:33:27,240 We wanted growth without any burn. 660 00:33:27,800 --> 00:33:29,760 Secondly, we have limited funds. 661 00:33:29,880 --> 00:33:33,600 We can't spend it all and... 662 00:33:33,680 --> 00:33:36,080 In a situation where funds were available, 663 00:33:36,320 --> 00:33:38,800 would you have delayed category expansion? 664 00:33:38,880 --> 00:33:40,720 No! We would have scaled aggressively. 665 00:33:40,800 --> 00:33:43,760 If we had funds, we wouldn't have invested in brand building. 666 00:33:43,880 --> 00:33:47,200 Don't you think, in a highly competitive space, 667 00:33:47,400 --> 00:33:49,920 you were scaling by concentrating on a niche, 668 00:33:50,040 --> 00:33:53,040 don't you feel that focus has now shifted? 669 00:33:53,200 --> 00:33:55,920 This is why we didn't expand into workwear 670 00:33:56,320 --> 00:33:57,880 - or start selling ethnic Kurtis. - Yes! 671 00:33:57,960 --> 00:33:59,680 - It is similar. - Vacation... 672 00:34:00,080 --> 00:34:02,600 - This is vacation wear. - This is the first time I'm hearing 673 00:34:02,800 --> 00:34:04,320 - the word 'vacation wear'. - Me too. 674 00:34:04,400 --> 00:34:05,960 - I've heard of 'lounge wear'. - Correct. 675 00:34:05,960 --> 00:34:06,960 - Swimwear. - Correct. 676 00:34:07,000 --> 00:34:09,080 'Vacation wear' sounds intriguing, 677 00:34:09,200 --> 00:34:12,240 but what are the pros and cons 678 00:34:12,720 --> 00:34:15,080 of positioning yourself as vacation wear? 679 00:34:15,240 --> 00:34:17,800 Let's start with the negatives because it's quite obvious. 680 00:34:17,960 --> 00:34:20,520 We can't sell pants or suits in the future. 681 00:34:20,680 --> 00:34:22,200 We can't sell Kurtis. 682 00:34:22,360 --> 00:34:23,600 That is a big negative. 683 00:34:23,680 --> 00:34:25,880 We may not be able to expand the category significantly. 684 00:34:25,920 --> 00:34:27,760 I think that's a positive. But okay. Go on. 685 00:34:28,240 --> 00:34:29,840 According to us, the positive is... 686 00:34:29,920 --> 00:34:32,840 Another downside is that you will be selling more 687 00:34:33,160 --> 00:34:35,320 - only twice a year, during vacations. - Correct. 688 00:34:35,440 --> 00:34:36,520 Now come to the positive. 689 00:34:36,600 --> 00:34:38,160 According to us, the positive is 690 00:34:38,240 --> 00:34:40,920 that it becomes easier to explain to the user. 691 00:34:41,160 --> 00:34:43,400 If I say resort wear, loungewear... 692 00:34:43,480 --> 00:34:45,000 I do buy loungewear, 693 00:34:45,120 --> 00:34:47,440 but I don't know if I should wear it in a lounge or what. 694 00:34:47,840 --> 00:34:49,760 So, vacation wear is easy 695 00:34:49,960 --> 00:34:51,200 even if no one uses it. 696 00:34:51,280 --> 00:34:52,880 But the challenge it creates is 697 00:34:53,000 --> 00:34:54,880 that you enter category creation. 698 00:34:55,000 --> 00:34:57,240 You have to explain to people. For example. 699 00:34:57,320 --> 00:34:59,400 If I hear WomanLikeU Vacation Wear, 700 00:34:59,520 --> 00:35:01,520 I might visit them for hats. 701 00:35:01,760 --> 00:35:03,800 - I haven't seen a single hat here. - Correct. 702 00:35:03,960 --> 00:35:05,640 - Do you sell hats? - Not currently. 703 00:35:05,720 --> 00:35:07,400 When you position it as vacation wear, 704 00:35:07,520 --> 00:35:10,360 then you'll have to start thinking about bags, hats, and so forth. 705 00:35:10,440 --> 00:35:12,600 - That they can. - Let's talk about business. 706 00:35:12,680 --> 00:35:15,040 How many years has it been? How are you tracking? 707 00:35:15,120 --> 00:35:17,240 - What are the numbers? Let's understand that. - Sure. 708 00:35:17,400 --> 00:35:19,720 We started in July 2022. 709 00:35:19,800 --> 00:35:22,680 FY22-23 was Rs. 34 lakhs. 710 00:35:22,800 --> 00:35:25,120 That was under 9 months. 711 00:35:25,200 --> 00:35:27,040 - On your website? - 100% on the website. 712 00:35:27,120 --> 00:35:29,680 In FY23-24, it made Rs. 4.7 crores. 713 00:35:29,760 --> 00:35:31,200 - Oh my! - Wow! 714 00:35:31,280 --> 00:35:32,320 On your website? 715 00:35:32,400 --> 00:35:33,680 - On our website. - Profit? 716 00:35:36,960 --> 00:35:38,520 In FY24-25, 717 00:35:38,760 --> 00:35:40,920 how much did you make in the six months and last month? 718 00:35:55,960 --> 00:35:59,200 This year, we're aiming to close the top-line at around Rs. 11 crores. 719 00:35:59,360 --> 00:36:01,960 And what was your last month's numbers? 720 00:36:02,040 --> 00:36:03,040 70 top-line sales. 721 00:36:03,120 --> 00:36:05,040 - How much was it in September? - 72. 722 00:36:05,280 --> 00:36:07,000 How much was the profit? 723 00:36:07,160 --> 00:36:09,840 Our profit is around 10%-12% 724 00:36:09,920 --> 00:36:12,240 Is this profit before tax? 725 00:36:12,320 --> 00:36:13,360 - EBITDA! - It's EBITDA. 726 00:36:13,440 --> 00:36:15,560 - Your EBITDA. - Are there other expenses? 727 00:36:15,720 --> 00:36:17,600 This year, if we are profitable, we will pay tax. 728 00:36:17,640 --> 00:36:18,640 - Other than tax. - No. 729 00:36:18,680 --> 00:36:20,600 - No interest, no loans, nothing? - Nothing else. 730 00:36:28,200 --> 00:36:29,200 25-30 days. 731 00:36:29,280 --> 00:36:30,960 Did it go down now, or was this the case always? 732 00:36:31,000 --> 00:36:33,440 - Always. In the beginning, we didn't raise funds. 733 00:36:33,560 --> 00:36:36,000 We raised a small fund. Frugality is in the DNA. 734 00:36:36,120 --> 00:36:39,560 - Until now, 100% of business is on your website. - No. 735 00:36:39,680 --> 00:36:42,280 - Now, we are on Nykaa. - This year? 736 00:36:49,360 --> 00:36:53,880 Out of Rs 70 lakhs, almost 30% was from marketplaces. 737 00:36:54,040 --> 00:36:55,880 70% purely from our website. 738 00:36:55,960 --> 00:36:58,520 The new growth is primarily coming from the marketplace. 739 00:36:58,640 --> 00:37:02,280 No! We are seeing new growth also because of category expansion. 740 00:37:03,040 --> 00:37:05,320 What is the total number of unique customers 741 00:37:05,520 --> 00:37:08,280 you've had and what are your repeat rates? 742 00:37:08,400 --> 00:37:12,400 Around 40,000 unique customers have made purchases with us, 743 00:37:12,480 --> 00:37:14,400 and to our surprise, 744 00:37:14,480 --> 00:37:16,440 the repeat rate within a 12-month window is 37%. 745 00:37:22,080 --> 00:37:23,760 What is the repeat rate for swimwear? 746 00:37:23,880 --> 00:37:24,880 - Yes! - Absolutely! 747 00:37:25,560 --> 00:37:26,640 How much is the repeat CAC? 748 00:37:26,680 --> 00:37:30,480 It's Rs. 950. With 20%, it is around Rs. 180. 749 00:37:31,120 --> 00:37:32,440 Vineeta, I have a question for you. 750 00:37:32,480 --> 00:37:36,920 Is there a women-specific swimwear brand? Category winner? 751 00:37:37,000 --> 00:37:39,840 Zivame, Clovia, these brands exist. 752 00:37:39,920 --> 00:37:41,040 Does anyone cater to vacation wear? 753 00:37:41,040 --> 00:37:43,560 H&M, Zara and all also have. 754 00:37:43,760 --> 00:37:45,800 But swim focussed... 755 00:37:45,920 --> 00:37:47,040 There are. 756 00:37:47,400 --> 00:37:49,200 There is a brand called Tizzi. 757 00:37:49,440 --> 00:37:51,920 Shivan & Narresh were already in that. 758 00:37:52,040 --> 00:37:53,600 - Correct. - My question was related to that. 759 00:37:53,640 --> 00:37:56,320 What is your pricing compared to those brands? 760 00:37:56,440 --> 00:37:57,680 You mentioned two brands. 761 00:37:57,800 --> 00:37:59,400 Our pricing is way lower than theirs. 762 00:37:59,520 --> 00:38:01,840 Our average order value 763 00:38:02,160 --> 00:38:04,560 is around Rs. 3,150-Rs. 3,200. 764 00:38:04,760 --> 00:38:06,600 The average selling price of a swimwear SKU 765 00:38:06,800 --> 00:38:09,760 is almost Rs. 2,700 to Rs. 2,800. 766 00:38:14,000 --> 00:38:17,640 - Yes. - Tell us about Zivame and Clovia, they are mass brands. 767 00:38:17,760 --> 00:38:19,960 Yes! Their price is much lower than ours. 768 00:38:20,040 --> 00:38:21,480 They are around Rs. 2,200. 769 00:38:21,560 --> 00:38:23,320 We have a USP 770 00:38:23,400 --> 00:38:26,080 with swimwear. All our swimwear has cover-ups. 771 00:38:30,800 --> 00:38:33,480 you will get a monokini or a bikini. 772 00:38:46,480 --> 00:38:49,520 What is the range of your pricing? 773 00:38:49,600 --> 00:38:51,760 Our swimwear pricing 774 00:38:51,960 --> 00:38:54,400 starts from Rs. 1,699 775 00:38:54,560 --> 00:38:56,240 and goes up to Rs. 6,999. 776 00:38:57,320 --> 00:38:59,160 What was your funding? 777 00:38:59,240 --> 00:39:01,560 Last year, in April 2023, 778 00:39:01,640 --> 00:39:04,760 we raised Rs. 1.25 crores from 100X.VC 779 00:39:04,920 --> 00:39:08,280 according to their cohort, in exchange for 15... 780 00:39:09,040 --> 00:39:10,040 Tell us the cost. 781 00:39:13,520 --> 00:39:14,640 Almost Rs. 1,000. 782 00:39:14,720 --> 00:39:16,200 Tell us the entire unit economics. 783 00:39:16,280 --> 00:39:20,360 Almost 35%-36% is COGS. 784 00:39:20,480 --> 00:39:23,280 4% is shipping and packaging. 785 00:39:23,360 --> 00:39:26,200 Another 35% is marketing. 786 00:39:26,280 --> 00:39:27,080 Wow! Okay! 787 00:39:27,160 --> 00:39:28,960 15% is fixed costs 788 00:39:29,480 --> 00:39:31,720 - which are indirect. - So, we are left with 10%. 789 00:39:32,200 --> 00:39:34,880 So, guys, this is a very competitive space. 790 00:39:35,000 --> 00:39:40,080 - Sure. - To get to Rs. 4 crores and now Rs. 10 crores run rate, 791 00:39:40,280 --> 00:39:41,720 you've done a good job. 792 00:39:41,840 --> 00:39:44,400 - Thank you! - Right? I think you are at a very critical juncture 793 00:39:44,400 --> 00:39:45,720 - in your business. - Yeah! 794 00:39:45,800 --> 00:39:48,400 Where you need to answer some strategic questions. 795 00:39:48,560 --> 00:39:51,080 Do you want to expand the category? 796 00:39:51,240 --> 00:39:53,840 You have to decide between 797 00:39:54,040 --> 00:39:55,960 profitability and growth. Right? 798 00:39:56,040 --> 00:39:58,800 Today I am out because I think you need to answer these questions 799 00:39:58,920 --> 00:39:59,920 - for yourself. - Sure. 800 00:40:00,720 --> 00:40:01,720 But good job! 801 00:40:01,840 --> 00:40:02,600 Thank you! 802 00:40:02,680 --> 00:40:05,480 Category expansion is something that 803 00:40:05,680 --> 00:40:08,480 - I am not confident about. It is happening too soon. - Okay. 804 00:40:09,680 --> 00:40:12,000 And I think it will create more complications. 805 00:40:12,120 --> 00:40:14,040 - Okay! - At a personal level, 806 00:40:14,160 --> 00:40:16,800 I don't believe I can add too much value to this category. 807 00:40:16,880 --> 00:40:17,880 Sure. 808 00:40:18,200 --> 00:40:19,840 So, for that reason, I am out. 809 00:40:19,920 --> 00:40:21,240 - But great job done. - Thank you! 810 00:40:22,000 --> 00:40:26,240 The reason why this is for Indian women is because 811 00:40:26,440 --> 00:40:30,200 - we want to wear international style swimwear. - Yeah. 812 00:40:30,280 --> 00:40:33,640 But we sometimes feel conscious about the fits. 813 00:40:33,760 --> 00:40:35,240 - Correct. - These styles 814 00:40:35,320 --> 00:40:38,000 where the bikini 815 00:40:38,080 --> 00:40:39,520 - covers the stomach... - Correct! 816 00:40:39,600 --> 00:40:42,520 - Yes! - You provide a matching cover-up 817 00:40:42,600 --> 00:40:44,560 so that I can only remove it 818 00:40:44,640 --> 00:40:46,920 when I reach the swimming pool. 819 00:40:47,000 --> 00:40:48,400 Matching sarongs. 820 00:40:48,640 --> 00:40:52,640 In a few designs, there is a cut till here 821 00:40:54,320 --> 00:40:57,160 - so that this portion is covered. - Correct. 822 00:40:57,240 --> 00:40:58,800 I think that is your innovation. 823 00:40:58,880 --> 00:41:01,320 - Correct! - That is what really stands out. 824 00:41:01,400 --> 00:41:04,280 Somehow, while having the discussion today, 825 00:41:04,440 --> 00:41:07,480 you barely mentioned that. 826 00:41:08,360 --> 00:41:13,080 I hate the brand name, logo, and the spelling of 'U'. 827 00:41:14,560 --> 00:41:16,560 It is so bad. Believe me, 828 00:41:16,640 --> 00:41:18,280 when I was buying, the only issue I had was, 829 00:41:18,320 --> 00:41:19,840 what kind of brand is WomanLikeU'! 830 00:41:19,920 --> 00:41:22,880 The designs and prints are so premium. 831 00:41:23,120 --> 00:41:25,360 If you... 832 00:41:25,880 --> 00:41:28,200 I'm sorry to say, but if the name sounds so cheap 833 00:41:28,320 --> 00:41:29,760 with the spelling of 'U' like this, 834 00:41:29,960 --> 00:41:32,800 it creates a bit of dissonance for the consumer. 835 00:41:32,920 --> 00:41:36,200 - Okay! - My suggestion is that Waves By Shrijal 836 00:41:36,440 --> 00:41:38,640 makes it seem like it's a premium brand. 837 00:41:38,760 --> 00:41:42,000 - Okay! - Even if you are selling products for around Rs. 3,000, 838 00:41:42,280 --> 00:41:44,080 you need to make the consumer 839 00:41:44,160 --> 00:41:46,720 feel that she's buying aspirational luxury. 840 00:41:46,800 --> 00:41:48,760 It should not be WomanLikeU. 841 00:41:49,000 --> 00:41:51,760 That said, I really like the design and the quality. 842 00:41:52,800 --> 00:41:54,480 So, I will give you an offer 843 00:41:54,560 --> 00:41:56,560 - which you may not like. - Okay! 844 00:41:58,000 --> 00:41:59,280 But it is what it is 845 00:41:59,360 --> 00:42:02,080 because I don't think anyone else will give you an offer. 846 00:42:02,720 --> 00:42:05,160 - So, Rs. 1 crore for 3%. - Okay. 847 00:42:05,280 --> 00:42:07,400 Plus a 2% royalty 848 00:42:07,520 --> 00:42:10,640 until I recover 1.5 times my investment. 849 00:42:17,320 --> 00:42:20,160 ...that is, you two as a combination for this market, 850 00:42:20,320 --> 00:42:22,160 I'd say it's 9 or 10 out of 10. 851 00:42:22,560 --> 00:42:24,000 Product market fit, 852 00:42:24,520 --> 00:42:26,960 8 or 9 out of 10. Still very good. 853 00:42:27,480 --> 00:42:28,960 But brand and positioning... 854 00:42:29,080 --> 00:42:31,320 When I say brand, logo, 855 00:42:31,640 --> 00:42:33,960 and fonts are all subjective. 856 00:42:34,560 --> 00:42:36,720 Ultimately, only the customer knows 857 00:42:36,920 --> 00:42:39,560 what they like. You have to try different things. 858 00:42:39,680 --> 00:42:42,560 I'm unclear on your positioning. 859 00:42:42,640 --> 00:42:44,840 If you are aiming to be inclusive, 860 00:42:45,280 --> 00:42:46,840 why isn't that more visible? 861 00:42:46,880 --> 00:42:49,080 You haven't used a tagline. 862 00:42:49,160 --> 00:42:53,320 To eliminate discrimination, you can't use this lexicon. 863 00:42:53,400 --> 00:42:55,360 That is where I'd say you need a lot of work. 864 00:42:55,600 --> 00:42:58,400 - I would give you 1 or 2 out of 10. - Okay. 865 00:42:58,520 --> 00:43:00,400 But still an amazing opportunity. 866 00:43:00,920 --> 00:43:03,760 But I think Vineeta has made you a good offer. 867 00:43:04,120 --> 00:43:05,560 I think she is the right partner for you. 868 00:43:05,560 --> 00:43:06,560 I am out. 869 00:43:07,480 --> 00:43:10,600 What is your view on the brand name? 870 00:43:10,680 --> 00:43:13,520 The feedback we've received on the brand name 871 00:43:13,600 --> 00:43:15,280 has been positive, 872 00:43:15,760 --> 00:43:17,880 possibly because it's easy to explain. 873 00:43:18,240 --> 00:43:19,440 The definition is easy. 874 00:43:19,520 --> 00:43:22,120 In fact, we put a lot of thought into the logo, 875 00:43:22,200 --> 00:43:24,560 it incorporates female symbolism. 876 00:43:24,680 --> 00:43:27,880 I also agree. It's simple and easy. 877 00:43:28,960 --> 00:43:30,240 I think it's different. 878 00:43:31,480 --> 00:43:33,600 The design is great and the pricing is reasonable. 879 00:43:33,920 --> 00:43:36,440 So, I'll match Vineeta's offer. 880 00:43:36,520 --> 00:43:38,960 I am okay with royalty 881 00:43:39,120 --> 00:43:40,440 till I get 1x return. 882 00:43:48,120 --> 00:43:49,120 Have fun, Aman. 883 00:43:49,240 --> 00:43:51,880 Vineeta, what will you do if they want both of us? 884 00:43:53,000 --> 00:43:55,000 We'll give Rs. 2 crores for 5%. 885 00:43:55,480 --> 00:43:57,000 And... 886 00:43:57,280 --> 00:43:59,000 - Valuation? - Rs. 40 crores. 887 00:43:59,280 --> 00:44:03,920 I have an issue with the branding. They won't change the logo. 888 00:44:12,600 --> 00:44:15,120 Here is our counter. 889 00:44:15,240 --> 00:44:17,960 - Both of you join us. - We knew it. 890 00:44:18,040 --> 00:44:19,800 For Rs. 2 crores, 891 00:44:19,920 --> 00:44:23,440 instead of 3% each, we'll give 5%. 2.5% each. 892 00:44:23,840 --> 00:44:26,160 And Aman's royalty deal 893 00:44:26,520 --> 00:44:27,840 of 1x. 894 00:44:32,880 --> 00:44:33,960 I can't do it. 895 00:44:34,040 --> 00:44:35,840 I am not okay with WomanLikeU. 896 00:44:44,320 --> 00:44:46,800 - See, it's very close to us. It's not... - Okay. 897 00:44:46,880 --> 00:44:48,120 I am out. 898 00:44:48,200 --> 00:44:50,640 Because I have a serious issue with 899 00:44:50,720 --> 00:44:52,600 - the name. I am sorry. - No problem. 900 00:44:55,080 --> 00:44:58,800 So, Aman, Rs. 1 crore for 2.5% with the royalty you mentioned. 901 00:45:05,680 --> 00:45:07,240 All right, guys! What do you want to do? 902 00:45:08,200 --> 00:45:09,920 Yes or no? 903 00:45:18,560 --> 00:45:20,200 - Thank you so much. - Thank you. 904 00:45:21,320 --> 00:45:23,160 Hi! Pleasure to meet you. 905 00:45:23,240 --> 00:45:24,560 Let's make the new category big! 906 00:45:24,800 --> 00:45:25,880 Good! 907 00:45:27,080 --> 00:45:28,080 [camera shutter clicks] 908 00:45:28,600 --> 00:45:30,240 - Bye, Sharks! Lovely meeting you all. - Bye! 909 00:45:30,240 --> 00:45:32,800 - Thank you! - Same here. 910 00:45:32,880 --> 00:45:34,000 Very nice. 911 00:45:35,120 --> 00:45:36,400 WomanLikeU 912 00:45:36,800 --> 00:45:39,560 sounds emotionless. 913 00:45:39,640 --> 00:45:42,080 It feels like someone picked out a name using an algorithm. 914 00:45:42,160 --> 00:45:45,640 If you are creating a lifestyle brand 915 00:45:45,720 --> 00:45:46,720 or a consumer brand, 916 00:45:46,880 --> 00:45:48,520 then the brand name is everything. 917 00:45:48,600 --> 00:45:51,280 The brand name itself triggers the first story 918 00:45:51,400 --> 00:45:53,760 in your mind about what the brand is about. 919 00:45:54,200 --> 00:45:56,560 Sugar wouldn't have been the same if it hadn't been named that way. 920 00:45:56,600 --> 00:45:58,920 It applies the same to boAt. 921 00:45:59,120 --> 00:46:02,400 Brand names for a consumer brand are very important. 922 00:46:02,480 --> 00:46:03,880 But because the founders 923 00:46:04,080 --> 00:46:07,520 were so rigid with keeping the name. 924 00:46:07,760 --> 00:46:08,720 I wasn't convinced 925 00:46:08,800 --> 00:46:11,120 they could turn it into a premium, 926 00:46:11,120 --> 00:46:14,600 aspirational brand for women with this name. 927 00:46:14,680 --> 00:46:17,640 With all due respect, we'd prefer not to take that opinion into account 928 00:46:17,760 --> 00:46:21,040 since we've received 929 00:46:21,200 --> 00:46:23,920 many more positive responses regarding the brand name. 930 00:46:24,000 --> 00:46:27,160 And that is very close to our heart. So, we would like to stick to that. 931 00:46:27,240 --> 00:46:28,840 We collect a lot of data. 932 00:46:29,200 --> 00:46:30,600 I'm sure that if Vineeta didn't like it, 933 00:46:30,600 --> 00:46:32,600 there are others who feel the same way. 934 00:46:32,840 --> 00:46:36,200 But from all the surveys and focus group discussions we've conducted, 935 00:46:36,520 --> 00:46:38,400 the brand name has always received positive feedback. 936 00:46:38,440 --> 00:46:39,680 So, we'll go with data. 937 00:46:40,320 --> 00:46:42,200 - Hello, Zoheib and Shrijal. - Hello! 938 00:46:42,280 --> 00:46:44,280 Welcome to the PokerBaazi Zone, where you hold the cards. 939 00:46:44,320 --> 00:46:46,000 - Thank you! - How was your experience? 940 00:46:48,360 --> 00:46:49,440 WomanLikeU 941 00:46:49,520 --> 00:46:50,800 All of them! Well... 942 00:46:52,040 --> 00:46:53,560 I wanted to go with a lame joke. 943 00:47:20,280 --> 00:47:21,600 When you've just started 944 00:47:21,680 --> 00:47:24,560 and you are hustling, waiting for something to crack. 945 00:47:24,640 --> 00:47:26,800 Then comes the growth phase. Where we've cracked something. 946 00:47:26,840 --> 00:47:28,360 But there is a long way to go. 947 00:47:28,560 --> 00:47:31,040 And then comes our maturity phase, where everything is cracked, 948 00:47:31,160 --> 00:47:33,080 money is rolling in and there's success and fame. 949 00:47:33,640 --> 00:47:36,600 I want you to share a story in this business journey 950 00:47:36,720 --> 00:47:39,760 related to one of these phases. 951 00:47:39,960 --> 00:47:41,800 What I remember now 952 00:47:41,880 --> 00:47:43,320 is right after the introduction phase 953 00:47:43,360 --> 00:47:46,000 - when you are about to enter the growth phase. - Yes. 954 00:47:46,120 --> 00:47:48,880 In the early stages, when we were making a revenue 955 00:47:49,240 --> 00:47:50,640 of Rs. 1-Rs. 2 lakhs per month, 956 00:47:50,720 --> 00:47:52,080 we met with an early investor. 957 00:47:52,160 --> 00:47:55,880 He clearly said that he will invest if we made Rs. 20 lakhs per month. 958 00:47:56,880 --> 00:48:00,200 At that point in time, our revenue was really low. 959 00:48:00,280 --> 00:48:01,120 It was quite steep. 960 00:48:01,240 --> 00:48:03,280 We found ourselves in a dilemma 961 00:48:03,360 --> 00:48:06,040 because we were already running on our savings. 962 00:48:06,120 --> 00:48:08,120 How to achieve that was a huge step. 963 00:48:08,200 --> 00:48:10,480 But I think we had a lot of faith in our idea. 964 00:48:10,560 --> 00:48:12,040 And we thought we'll take the plunge. 965 00:48:12,120 --> 00:48:15,440 We literally risked everything 966 00:48:15,560 --> 00:48:17,360 and the results were out. 967 00:48:17,480 --> 00:48:20,800 In fact, it was better than expected. So, we understood, 968 00:48:21,080 --> 00:48:24,080 that your limits are as far as your thinking goes. 969 00:48:24,400 --> 00:48:27,120 If you believe you can do it, you will succeed. 970 00:48:27,240 --> 00:48:29,640 - Wow, that's a great insight. And good for you guys. - Yeah! 971 00:48:29,960 --> 00:48:31,120 I was looking at these cards. 972 00:48:56,080 --> 00:48:58,000 ...apply your strategy and create a winning hand. 973 00:48:58,160 --> 00:48:59,480 Download the app now! 974 00:48:59,600 --> 00:49:02,640 'Shark Tank India, co-presented by ACKO Insurance, 975 00:49:02,720 --> 00:49:04,720 'PokerBaazi and Swiggy Instamart.' 976 00:49:04,800 --> 00:49:07,440 'Co-powered by Adani and Jaquar Bath and Light.' 977 00:49:07,520 --> 00:49:10,480 'And partners, Rayzon Solar, ICICI Direct, ' 978 00:49:10,760 --> 00:49:12,200 'Lenskart and Sofy.' 979 00:49:12,400 --> 00:49:14,360 [theme music playing] 980 00:49:23,680 --> 00:49:25,600 [theme music playing] 981 00:49:38,160 --> 00:49:39,000 Hi, ma'am! 982 00:49:39,120 --> 00:49:40,200 I am a writer. 983 00:49:40,440 --> 00:49:42,680 And this is the story of my life. 984 00:49:42,880 --> 00:49:45,960 This is a symbol of my feelings and emotions. 985 00:49:46,120 --> 00:49:48,560 I wish for this book to reach people 986 00:49:48,640 --> 00:49:51,480 and for my poems and stories to touch everyone's soul. 987 00:49:53,640 --> 00:49:54,880 Oh! 988 00:49:56,120 --> 00:49:58,080 Ma'am, what was that? 989 00:49:58,400 --> 00:49:59,840 Do you see this, Sharks? 990 00:49:59,960 --> 00:50:03,200 We come across thousands of authors like him every day. 991 00:50:03,320 --> 00:50:06,680 Is talent alone enough to make someone an author? 992 00:50:08,120 --> 00:50:11,080 Do you want to get published? We will do it. 993 00:50:11,520 --> 00:50:12,520 Oh! 994 00:50:12,840 --> 00:50:14,160 But... Listen! 995 00:50:14,360 --> 00:50:15,960 - What? - We will have the publishing rights. 996 00:50:15,960 --> 00:50:17,760 - 90% profit will be ours. - What? 997 00:50:17,840 --> 00:50:19,560 We will make the changes as per our liking. 998 00:50:19,640 --> 00:50:21,200 Actually, we own you now. 999 00:50:21,280 --> 00:50:23,520 I want to become an author, doesn't mean I'll agree to everything. 1000 00:50:23,560 --> 00:50:25,160 Despite so many conditions, 1001 00:50:25,240 --> 00:50:27,600 what guarantee that my book will be published in time? 1002 00:50:28,080 --> 00:50:30,800 Sharks, there is a writer in everyone. 1003 00:50:31,040 --> 00:50:33,440 But their story doesn't reach the people. 1004 00:50:33,600 --> 00:50:36,800 After enduring so much, if their story finally gets published, 1005 00:50:36,840 --> 00:50:39,160 the writer within them has already died. 1006 00:50:39,360 --> 00:50:41,360 In the world, around 6,000 manuscripts 1007 00:50:41,480 --> 00:50:43,640 are submitted every year to an average publisher. 1008 00:50:43,760 --> 00:50:46,160 Only 1%-2% get published 1009 00:50:52,040 --> 00:50:53,640 The reader should decide that. 1010 00:50:53,880 --> 00:50:56,800 And that's where BookLeaf Publishing comes in. 1011 00:50:56,880 --> 00:50:59,560 Hello, Sharks! I am Musavir Khurshid from Srinagar. 1012 00:51:01,840 --> 00:51:04,640 And we are the founders of BookLeaf Publishing. 1013 00:51:05,920 --> 00:51:07,880 This is a self-publishing platform 1014 00:51:07,960 --> 00:51:10,160 that gives authors complete control over everything, 1015 00:51:10,240 --> 00:51:11,920 from the cover to the content. 1016 00:51:17,120 --> 00:51:20,040 and over 100 global platforms. 1017 00:51:24,480 --> 00:51:25,800 Not just that, Sharks, 1018 00:51:25,880 --> 00:51:28,040 our authors get 100% royalty. 1019 00:51:38,560 --> 00:51:41,600 ...more than 15,000 books in US, UK and India. 1020 00:51:46,800 --> 00:51:48,360 - Wow! - Our vision 1021 00:51:48,480 --> 00:51:50,960 is to empower every writer through BookLeaf, 1022 00:51:51,040 --> 00:51:52,400 enabling them to claim this right. 1023 00:51:52,480 --> 00:51:54,240 To achieve this goal, 1024 00:51:54,320 --> 00:51:58,440 Sharks, our ask is Rs. 90 lakhs for 5% equity. 1025 00:52:12,880 --> 00:52:14,600 Last time ever, by the way. 1026 00:52:16,240 --> 00:52:18,280 Musavir and Shivangi, 1027 00:52:18,360 --> 00:52:20,880 15,000 books and Rs. 9 crore in sale... 1028 00:52:20,960 --> 00:52:23,720 - Did you mean Rs. 9 crores? - Value! 1029 00:52:23,800 --> 00:52:25,320 - Yes! - INR. 1030 00:52:25,720 --> 00:52:29,160 I think books are a dying category. 1031 00:52:29,400 --> 00:52:31,800 You are reinvigorating it. 1032 00:52:31,920 --> 00:52:33,560 You are performing a good deed. 1033 00:52:34,000 --> 00:52:36,120 - Thank you so much. - We will hear about that. 1034 00:52:36,200 --> 00:52:38,520 But first, I want to know how old both of you are. 1035 00:52:38,640 --> 00:52:41,160 How did you both meet? 1036 00:52:41,360 --> 00:52:43,600 And how did this start? 1037 00:52:43,680 --> 00:52:44,880 Tell us about that. 1038 00:52:44,960 --> 00:52:46,440 We are 24 years old. 1039 00:52:46,560 --> 00:52:49,160 I am from Srinagar. I did my schooling from there. 1040 00:52:49,280 --> 00:52:50,760 I completed 12th grade in 2016. 1041 00:52:50,840 --> 00:52:53,360 In 2017, I took admission in BCA. 1042 00:52:53,600 --> 00:52:55,520 But I dropped out after two years. 1043 00:52:55,640 --> 00:53:00,160 In 2019, Article 370 happened in Kashmir, there was no internet. 1044 00:53:00,440 --> 00:53:01,800 That's when I took a leap 1045 00:53:01,880 --> 00:53:04,360 and decided to shift to Delhi. 1046 00:53:04,520 --> 00:53:07,800 That's when Shivangi and I met. 1047 00:53:07,920 --> 00:53:09,760 We met online. 1048 00:53:09,880 --> 00:53:12,400 After that, we met in person. 1049 00:53:12,480 --> 00:53:13,640 Where did you meet online? 1050 00:53:13,720 --> 00:53:15,400 We were both writers. 1051 00:53:15,520 --> 00:53:17,200 - Okay! - We have our page on Instagram, 1052 00:53:17,360 --> 00:53:18,960 where we used to write poetry. 1053 00:53:19,120 --> 00:53:22,440 - Wow! - We discovered each other there in 2017. 1054 00:53:22,520 --> 00:53:23,960 - On Instagram? - On Instagram. 1055 00:53:24,080 --> 00:53:27,280 - Wow! - Back then I wanted to publish my book. 1056 00:53:27,400 --> 00:53:28,680 She was also interested in it. 1057 00:53:28,760 --> 00:53:31,600 She asked me to keep her updated about the process. 1058 00:53:31,960 --> 00:53:34,520 That is when I got to know about the publishing world. 1059 00:53:34,600 --> 00:53:37,160 I emailed over 50 publishers. 1060 00:53:37,320 --> 00:53:39,240 I received a response from one publisher 1061 00:53:39,320 --> 00:53:40,880 and that too after 7 months. 1062 00:53:41,000 --> 00:53:43,120 It was a rejection email. To tell me they are not interested. 1063 00:53:43,120 --> 00:53:44,840 You have endured this. 1064 00:53:44,920 --> 00:53:46,520 Yes, I have. 1065 00:53:46,640 --> 00:53:48,960 That's when I discussed it with Shivangi 1066 00:53:49,040 --> 00:53:51,240 and she said, 'Is there some other route that you can take?' 1067 00:53:51,280 --> 00:53:53,200 We figured out what I needed. 1068 00:53:53,280 --> 00:53:56,000 I need a book's identification number. 1069 00:54:04,320 --> 00:54:05,720 who face similar problems. 1070 00:54:05,800 --> 00:54:07,400 But did your book get published? 1071 00:54:07,480 --> 00:54:08,400 My book got published. 1072 00:54:08,520 --> 00:54:10,120 - It was published. What about you, Shivangi? - Wow! 1073 00:54:10,160 --> 00:54:11,280 My book didn't get published. 1074 00:54:11,280 --> 00:54:14,520 I was updated about the process and everything. 1075 00:54:14,600 --> 00:54:17,680 And I studied English Literature at Kirori Mal College. 1076 00:54:20,920 --> 00:54:22,720 There were editors, designers, 1077 00:54:22,800 --> 00:54:24,280 we used to discuss. 1078 00:54:24,360 --> 00:54:26,600 Everything just got connected 1079 00:54:26,760 --> 00:54:28,280 and we also needed pocket money. 1080 00:54:28,360 --> 00:54:30,680 Did you like his poetry? 1081 00:54:30,800 --> 00:54:31,640 Yes, I did. 1082 00:54:31,760 --> 00:54:33,000 Recite poetry. 1083 00:54:33,120 --> 00:54:34,680 I stopped writing poetry. 1084 00:54:34,760 --> 00:54:35,560 Recite an old one. 1085 00:54:35,720 --> 00:54:36,920 You go first, then I will go. 1086 00:54:37,040 --> 00:54:39,640 - No, we don't want to hear your poetry. - We want to hear you. 1087 00:54:39,720 --> 00:54:40,760 We've heard your poetry. 1088 00:54:40,840 --> 00:54:43,160 - Poetry will be insulted. - I used to write in English. 1089 00:54:43,320 --> 00:54:44,840 It's not in Hindi or Urdu. 1090 00:54:44,920 --> 00:54:45,760 Recite it in English. 1091 00:54:45,840 --> 00:54:47,320 It was a couplet. 1092 00:54:47,400 --> 00:54:48,960 I remember the second verse. 1093 00:54:49,040 --> 00:54:51,040 I collected my heart's blood crystals 1094 00:54:51,040 --> 00:54:52,800 and preserved them all night long. 1095 00:54:52,880 --> 00:54:55,200 - Oh my! - As remembrances and souvenirs. 1096 00:54:55,280 --> 00:54:57,080 With which I shall adorn your collar. 1097 00:54:57,240 --> 00:54:58,600 - Oh! - You are a romantic. 1098 00:54:58,680 --> 00:55:01,800 Did you fall in love? Did your first love crush your heart? 1099 00:55:02,080 --> 00:55:04,440 - You liked his poetry, right? - Yes. 1100 00:55:04,560 --> 00:55:06,680 More than that, I used to like the backstory. 1101 00:55:06,760 --> 00:55:09,120 When I asked who he wrote this for, 1102 00:55:09,200 --> 00:55:11,320 he had a crush on a dentist. 1103 00:55:11,560 --> 00:55:13,320 Oh! 1104 00:55:14,000 --> 00:55:15,240 What is the story behind this dentist? 1105 00:55:15,280 --> 00:55:17,880 I was 17 years old and I used to visit a dentist. 1106 00:55:17,960 --> 00:55:21,800 My treatment was 6 months long treatment. 1107 00:55:22,040 --> 00:55:23,680 I told her 1108 00:55:23,760 --> 00:55:25,960 that this was the best 6 months of my life. 1109 00:55:26,720 --> 00:55:28,840 You had a toothache very frequently. 1110 00:55:29,600 --> 00:55:32,240 - It's fine. - You must have had a lot of dental clean-ups done. 1111 00:55:33,800 --> 00:55:36,200 - We rarely see romantics here. - Nice! 1112 00:55:36,320 --> 00:55:37,240 Welcome. 1113 00:55:37,320 --> 00:55:41,120 Other than Amazon, there are many self-publishing platforms globally. 1114 00:55:41,280 --> 00:55:44,760 Is there a unique differentiator 1115 00:55:44,840 --> 00:55:46,400 or are you one of them? 1116 00:55:46,480 --> 00:55:47,920 In 2017, 1117 00:55:48,000 --> 00:55:51,120 there was no other player compared to today. 1118 00:55:51,200 --> 00:55:54,800 - Amazon has Kindle, it is their direct publishing unit. - Yes. 1119 00:55:54,920 --> 00:55:58,040 They didn't sell a paperback in India, it sold e-books. 1120 00:55:58,120 --> 00:56:00,000 That also had royalty issues. 1121 00:56:00,080 --> 00:56:01,640 You have to give them your exclusive rights, 1122 00:56:01,640 --> 00:56:03,800 only then you'll get around 70% of the royalty. 1123 00:56:03,880 --> 00:56:08,240 At that time, I considered partnering with local printers. 1124 00:56:08,320 --> 00:56:10,640 They used to tell me the amount 1125 00:56:10,800 --> 00:56:11,880 for 200-500 copies. 1126 00:56:11,960 --> 00:56:13,680 I didn't have that kind of money. 1127 00:56:13,800 --> 00:56:16,400 I did some research on KDP, Amazon's publishing unit. 1128 00:56:16,480 --> 00:56:19,080 I knew that they operate on a print-on-demand model. 1129 00:56:19,240 --> 00:56:21,200 They will print the orders based on the orders they get. 1130 00:56:21,240 --> 00:56:22,920 So, the author doesn't have to invest. 1131 00:56:23,000 --> 00:56:25,920 - Wait, just to understand, that was in 2017. - Yes. 1132 00:56:26,000 --> 00:56:27,920 - A lot of platforms have emerged since then. - Yes. 1133 00:56:27,920 --> 00:56:31,760 Does this have something special or a differentiator 1134 00:56:31,840 --> 00:56:34,440 - that others don't possess? Tell us. - We do. 1135 00:56:34,520 --> 00:56:37,400 Their major focus is publishing. 1136 00:56:37,520 --> 00:56:39,920 Our focus was writing, not publishing. 1137 00:56:40,280 --> 00:56:42,640 We have a hero product, we call it The Write Angle. 1138 00:56:42,760 --> 00:56:43,800 W-R-I-T-E! 1139 00:56:43,880 --> 00:56:47,560 If you enjoy writing, you can write on our portal for 21 days. 1140 00:56:47,800 --> 00:56:49,680 After 21 days, whatever you've written, 1141 00:56:49,800 --> 00:56:52,000 we will publish it for you without asking any questions. 1142 00:56:54,760 --> 00:56:57,200 A couplet is a poem. 1143 00:56:57,280 --> 00:56:59,120 You write a line that is also a poem. 1144 00:56:59,360 --> 00:57:01,240 - So, people loved it. - I agree. 1145 00:57:01,480 --> 00:57:03,000 They started sharing it. 1146 00:57:03,080 --> 00:57:05,480 They started writing every day. 1147 00:57:05,680 --> 00:57:09,360 In 2022-2023, we had an editor and designer 1148 00:57:09,440 --> 00:57:12,000 who would transform your writing into a book 1149 00:57:12,080 --> 00:57:13,720 and send it for printing. 1150 00:57:14,000 --> 00:57:15,560 This year, we decided 1151 00:57:15,640 --> 00:57:18,520 to create a DIY platform 1152 00:57:18,680 --> 00:57:21,800 where you can write, and with just a click, 1153 00:57:21,920 --> 00:57:23,400 your book will be ready instantly. 1154 00:57:23,560 --> 00:57:27,320 You choose from our cover templates, click on what you like 1155 00:57:27,400 --> 00:57:28,960 and the cover will be instantly ready. 1156 00:57:29,240 --> 00:57:32,040 You submit it and we will receive the print-ready files. 1157 00:57:32,240 --> 00:57:35,040 Musavir and Shivangi, tell me, are people reading e-books 1158 00:57:35,120 --> 00:57:37,560 or hard copies? What is going on in the market? 1159 00:57:37,720 --> 00:57:40,840 Because I don't enjoy reading. 1160 00:57:41,200 --> 00:57:43,200 Currently, the sales of print books 1161 00:57:43,280 --> 00:57:46,120 are going down. In the next 1-2 years, 1162 00:58:01,560 --> 00:58:04,880 But we cater to all three. We started audiobooks recently. 1163 00:58:08,480 --> 00:58:11,360 ...what exactly is the difference between your model 1164 00:58:11,560 --> 00:58:13,000 and that of Amazon 1165 00:58:13,080 --> 00:58:14,000 or any big e-publisher? 1166 00:58:14,080 --> 00:58:15,560 - Please explain. - I'll give you the exact details. 1167 00:58:15,600 --> 00:58:19,000 First of all, it's royalties. If you are from India 1168 00:58:32,400 --> 00:58:36,040 But we are partnered with leading distributors. 1169 00:58:36,120 --> 00:58:38,400 For example, Ingram Content Group in the US. 1170 00:58:45,280 --> 00:58:47,440 We've partnered with all of them. 1171 00:58:47,640 --> 00:58:49,480 By taking your e-book, 1172 00:58:49,640 --> 00:58:51,480 we are distributing it on different platforms. 1173 00:58:51,880 --> 00:58:53,760 - Let's take an example. - Okay. 1174 00:58:53,840 --> 00:58:55,640 - My mom is a writer. - Yes. 1175 00:58:55,840 --> 00:58:57,440 She has written a few books. 1176 00:58:57,680 --> 00:58:59,440 Now, she is struggling to publish them. 1177 00:58:59,600 --> 00:59:01,120 What will she do now? 1178 00:59:01,200 --> 00:59:03,080 How will you distribute? 1179 00:59:03,440 --> 00:59:04,840 How much will you keep 1180 00:59:04,960 --> 00:59:06,880 and how much will you give my mom? 1181 00:59:07,000 --> 00:59:09,120 Okay! Let me explain the entire process. 1182 00:59:09,240 --> 00:59:12,040 She has The Write Angle, the writing challenge I mentioned earlier. 1183 00:59:12,160 --> 00:59:13,920 If you allow me, I'll also give you the demo. 1184 00:59:17,280 --> 00:59:19,080 She will visit our webpage. 1185 00:59:19,160 --> 00:59:21,560 She has to join. 1186 00:59:21,760 --> 00:59:24,160 Rs. 2,999 is the one-time cost. She has to sign up. 1187 00:59:24,240 --> 00:59:25,240 Once that is done, 1188 00:59:25,280 --> 00:59:27,160 she will get access to her dashboard. 1189 00:59:27,400 --> 00:59:29,920 She just has to click 'Start A New Book.' 1190 00:59:30,000 --> 00:59:33,000 We have divided the publishing process into five steps. 1191 00:59:33,160 --> 00:59:36,000 First is her name, book title and subtitle. 1192 00:59:36,080 --> 00:59:37,400 Once she hits enter, 1193 00:59:37,680 --> 00:59:38,600 she goes to the next page. 1194 00:59:38,680 --> 00:59:40,160 She has to select her design. 1195 00:59:40,920 --> 00:59:41,800 Let's move on. 1196 00:59:41,920 --> 00:59:44,720 She will enter the book's interior. 1197 00:59:44,800 --> 00:59:47,680 Once she is satisfied with what she wants, 1198 00:59:47,880 --> 00:59:49,720 she has to click on Preview & Finish. 1199 00:59:49,840 --> 00:59:52,680 You can see that this is how the final draft will look. 1200 00:59:52,760 --> 00:59:54,120 Copyrights have been added. 1201 00:59:54,240 --> 00:59:56,080 There is dedication and the design she chose. 1202 00:59:56,320 --> 00:59:57,800 - She can see that design. - Nice. 1203 00:59:58,000 --> 00:59:59,920 Can't you make this assistive 1204 01:00:00,000 --> 01:00:02,240 where someone can help over the phone along with the tech? 1205 01:00:02,240 --> 01:00:04,080 There is a WhatsApp widget available here 1206 01:00:04,160 --> 01:00:05,520 in the bottom right. 1207 01:00:05,720 --> 01:00:08,560 Real-time customer support is available, if you have an issue 1208 01:00:08,760 --> 01:00:11,160 click on it and someone will connect you. 1209 01:00:11,240 --> 01:00:13,280 Now, the book is published on Amazon 1210 01:00:13,360 --> 01:00:16,360 - and my mom paid Rs. 2,999 to you. - Yes. 1211 01:00:16,480 --> 01:00:18,600 If someone orders a book, 1212 01:00:18,720 --> 01:00:20,400 who will print and send it? 1213 01:00:20,480 --> 01:00:21,880 We have print partners. 1214 01:00:21,960 --> 01:00:23,840 For example, there is Repro Books in India. 1215 01:00:24,160 --> 01:00:26,560 - We partnered with them. - This is on-demand printing, 1216 01:00:26,720 --> 01:00:27,600 there will be no inventory. 1217 01:00:27,720 --> 01:00:29,520 - We won't. - The order was placed, 1218 01:00:29,680 --> 01:00:31,560 and then the book was printed 1219 01:00:31,640 --> 01:00:33,400 - just in time. - Yes. 1220 01:00:33,600 --> 01:00:36,920 Who will determine the price of the book? You or my mom? 1221 01:00:41,000 --> 01:00:42,560 If the book is for Rs. 180, 1222 01:00:42,680 --> 01:00:45,160 they will take Rs. 26. 1223 01:00:45,280 --> 01:00:46,840 - They will keep 15%. - Yes. 1224 01:00:46,960 --> 01:00:48,600 - You have 85%. - Yes. 1225 01:00:48,680 --> 01:00:49,680 Yes! 1226 01:00:49,760 --> 01:00:52,600 - It includes our partner's printing costs. - How much? 1227 01:00:52,720 --> 01:00:54,040 If the book is 100 pages, 1228 01:00:54,120 --> 01:00:56,120 around Rs. 60 is the printing cost. 1229 01:00:56,240 --> 01:00:58,480 Deduct that and approximately Rs. 100 is left. 1230 01:00:58,560 --> 01:01:00,520 After that, there is one more fee 1231 01:01:00,600 --> 01:01:03,360 that we are paying to a distributor. Let's assume it's Repro. 1232 01:01:03,440 --> 01:01:05,200 They are using their logistics. 1233 01:01:05,280 --> 01:01:07,080 - It is not in-house. - He will deliver. 1234 01:01:07,200 --> 01:01:08,480 - Yes. - How much do you pay him? 1235 01:01:08,840 --> 01:01:11,040 - We pay close to 30%. - 30%. 1236 01:01:11,760 --> 01:01:14,280 At the end of the month, we will get a sales report from Repro. 1237 01:01:14,440 --> 01:01:17,640 We will raise an invoice to them, we will get the amount. 1238 01:01:17,800 --> 01:01:19,200 We send that directly... 1239 01:01:19,280 --> 01:01:21,760 Okay! You earned Rs. 2,999. 1240 01:01:21,840 --> 01:01:24,600 - Rs. 2,999. - You gave the money earned to my mom. 1241 01:01:24,680 --> 01:01:26,160 We gave it to your mom. 1242 01:01:26,240 --> 01:01:28,640 How much is the price of your highest best seller? 1243 01:01:28,760 --> 01:01:30,600 For fiction, Rs. 18,000. 1244 01:01:30,720 --> 01:01:34,560 - But for poetry, it's Rs. 12,000. - Got it. 1245 01:01:35,200 --> 01:01:38,800 More than publishing, the most important thing is book marketing. 1246 01:01:38,880 --> 01:01:42,480 - There are many publishers for popular people. - Hmm! 1247 01:01:42,560 --> 01:01:44,480 And it gets advertised on its own. 1248 01:01:44,560 --> 01:01:46,680 If an unknown person writes a book, 1249 01:01:46,800 --> 01:01:49,240 the most important thing for him is the marketing of the book, 1250 01:01:49,440 --> 01:01:51,680 - how do you do that? - Nowadays, people 1251 01:01:51,760 --> 01:01:54,160 buy books online more than offline. 1252 01:01:54,400 --> 01:01:55,880 - They buy it on Amazon. - How does it get discovered? 1253 01:01:55,880 --> 01:01:58,760 - How will you discover the book online? - Exactly! 1254 01:01:58,840 --> 01:02:01,480 This used to be a moat for the conventional publishers. 1255 01:02:01,560 --> 01:02:03,520 They said they would make them visible. 1256 01:02:03,760 --> 01:02:06,120 But that has shifted. People now discover books via social media. 1257 01:02:06,120 --> 01:02:08,640 You said that you sold books worth Rs. 9 crores 1258 01:02:08,720 --> 01:02:10,400 of 15,000 books. 1259 01:02:10,520 --> 01:02:13,120 So, a book priced at Rs. 200 1260 01:02:13,200 --> 01:02:15,320 has been bought by 30 people. 1261 01:02:15,440 --> 01:02:18,120 What will the author do 1262 01:02:18,200 --> 01:02:19,800 by selling books to 30 people? 1263 01:02:19,960 --> 01:02:21,800 It's not really meaningful. 1264 01:02:22,040 --> 01:02:23,680 The real problem is that 1265 01:02:23,800 --> 01:02:26,040 you should sell 10,000 copies, 1266 01:02:26,200 --> 01:02:27,200 that is not happening. 1267 01:02:27,280 --> 01:02:29,120 - You are only selling 30. - I'll share what happened with me. 1268 01:02:29,160 --> 01:02:32,200 When I got an offer from Amazon and Penguin, 1269 01:02:32,280 --> 01:02:34,640 'We will write a book on you.' Okay? 1270 01:02:34,720 --> 01:02:36,200 Do you know what they committed? 1271 01:02:36,320 --> 01:02:38,680 'We will sell 3 lakh copies of your book.' 1272 01:02:38,760 --> 01:02:42,840 The interest lies in marketing and reach 1273 01:02:42,960 --> 01:02:43,880 and not publishing. 1274 01:02:43,960 --> 01:02:46,480 You got an offer because you are well known. 1275 01:02:46,720 --> 01:02:48,040 But we are talking about 1276 01:02:48,120 --> 01:02:50,560 - aspiring authors and writers. - Agreed. 1277 01:02:50,640 --> 01:02:53,280 The acceptance rate over there is low. 1278 01:02:53,360 --> 01:02:55,440 - Agreed. - It is better to start from here. 1279 01:02:55,520 --> 01:02:57,280 But if they publish a book, 1280 01:02:57,360 --> 01:03:00,400 they will not go from one place to another to read their book. 1281 01:03:00,520 --> 01:03:03,000 The difference is, it becomes a writer's responsibility 1282 01:03:03,080 --> 01:03:04,960 to sell his book. 1283 01:03:05,040 --> 01:03:07,360 In other publishing houses, 1284 01:03:07,440 --> 01:03:09,880 they take responsibility for selling the books. That's the difference. 1285 01:03:09,920 --> 01:03:11,280 You are saying 1286 01:03:11,360 --> 01:03:14,280 that your differentiator is royalty. The author gets 100%. 1287 01:03:14,400 --> 01:03:17,120 What will I do with 100% royalty for 30 books? 1288 01:03:17,320 --> 01:03:20,480 On one hand, if I even get a 10% royalty 1289 01:03:20,600 --> 01:03:23,120 and I sell 10,000 books, 1290 01:03:23,320 --> 01:03:26,800 that is better for me. My book got some exposure 1291 01:03:26,960 --> 01:03:30,200 and a few people were able to read it. 1292 01:03:30,400 --> 01:03:32,720 This is the biggest challenge of your model. 1293 01:03:32,840 --> 01:03:34,360 Nothing is moving, 1294 01:03:34,520 --> 01:03:36,640 I can self-publish and distribute it to 30 friends. 1295 01:03:36,880 --> 01:03:40,280 - Amish wrote Shiva Trilogy, and there is Savi Sharma. - Yeah. 1296 01:03:40,480 --> 01:03:42,960 What they did was, they had an avenue like self-publishing, 1297 01:03:43,040 --> 01:03:45,320 that's why they first self-published. 1298 01:03:45,480 --> 01:03:48,240 They sold their books by giving them exposure. 1299 01:03:48,360 --> 01:03:51,200 Automatically, a big publisher discovered them 1300 01:03:51,280 --> 01:03:52,720 and gave them an offer. 1301 01:03:52,800 --> 01:03:56,280 Self-publishing helped them. 1302 01:03:57,360 --> 01:03:59,920 I want to know your year-on-year sales. 1303 01:04:00,040 --> 01:04:04,480 Because that will reveal how valuable your platform is. 1304 01:04:04,520 --> 01:04:08,000 We started in 2020. In the first year, our sales were 4.5 lakhs. 1305 01:04:08,200 --> 01:04:10,480 In the next year, we did 2.8 crores. 1306 01:04:10,560 --> 01:04:13,200 In the next year, we did 3.5 crores. 1307 01:04:13,440 --> 01:04:15,200 And in the next year, 2023-24, 1308 01:04:15,360 --> 01:04:17,000 we did 3.2 crores 1309 01:04:17,120 --> 01:04:19,720 and this year so far we have done 2.25 crores. 1310 01:04:19,840 --> 01:04:21,480 We are going to touch six crores. 1311 01:04:25,040 --> 01:04:27,600 First, we have the writing challenge, which is Rs 2,999. 1312 01:04:27,680 --> 01:04:29,120 We are getting 47% from there. 1313 01:04:29,640 --> 01:04:30,920 That's 1.05 crores. 1314 01:04:31,000 --> 01:04:33,280 45% was from upsells. 1315 01:04:33,360 --> 01:04:34,600 What is the order size for that? 1316 01:04:34,640 --> 01:04:36,440 After the discount, it was Rs 11,000. 1317 01:04:39,960 --> 01:04:40,960 - 39 lakhs. - 39 lakhs. 1318 01:04:41,080 --> 01:04:42,760 What are your expenses? Will you tell us? 1319 01:04:42,880 --> 01:04:45,200 First, is our salaries at 33%. 1320 01:04:45,280 --> 01:04:47,120 30% for marketing. 1321 01:04:47,200 --> 01:04:48,600 12% for software. 1322 01:04:48,680 --> 01:04:52,160 4% is for tech, to maintain the dashboard or add something new. 1323 01:04:52,360 --> 01:04:55,120 Another 4% is miscellaneous costs. 1324 01:04:55,200 --> 01:04:56,560 And 17% is EBITDA. 1325 01:04:56,640 --> 01:04:58,280 - Do you take salaries? - Yes. 1326 01:04:58,360 --> 01:04:59,480 How much salary do you take? 1327 01:04:59,520 --> 01:05:00,440 - 2.5 lakhs. - 2.5 lakhs each. 1328 01:05:00,520 --> 01:05:02,240 - 2.5 lakhs each per month? - Not bad. 1329 01:05:02,400 --> 01:05:03,800 Yes. - Very good. 1330 01:05:03,880 --> 01:05:05,720 - Superb. - Not bad at all. How is your equity split? 1331 01:05:05,760 --> 01:05:07,400 - 50-50. - 50-50. - All right. 1332 01:05:07,480 --> 01:05:10,600 You're profitable. You are taking good salaries. Your business 1333 01:05:10,960 --> 01:05:12,960 is a very unique business. 1334 01:05:13,360 --> 01:05:16,040 What would you like to do with this 90 lakhs investment? 1335 01:05:16,520 --> 01:05:18,640 More than the investment, it's the mentorship. 1336 01:05:18,720 --> 01:05:21,080 We've come so far after facing many challenges. 1337 01:05:21,200 --> 01:05:22,800 We've figured out everything on our own. 1338 01:05:22,880 --> 01:05:24,760 We will achieve our goal. 1339 01:05:24,840 --> 01:05:26,960 But with your help, we'll do it very fast. 1340 01:05:27,080 --> 01:05:29,040 We have 95 lakhs in our bank. 1341 01:05:29,560 --> 01:05:30,920 It's not the money. 1342 01:05:31,320 --> 01:05:33,280 First of all, it was great to see that 1343 01:05:33,400 --> 01:05:36,560 you're making money, taking 2.5 lakhs salary and are profitable. 1344 01:05:36,640 --> 01:05:40,600 And I was shocked to see you've made a business of six crores. 1345 01:05:40,760 --> 01:05:44,280 You're selling outside India too. You've identified the correct problem. 1346 01:05:44,720 --> 01:05:47,520 Unfortunately, I'm out of this. 1347 01:05:47,680 --> 01:05:49,680 Because I'm not very fond of the book business. 1348 01:05:50,040 --> 01:05:52,120 We won't be able to relate at all. 1349 01:05:52,440 --> 01:05:53,880 I'd like to give you two suggestions. 1350 01:05:57,960 --> 01:06:00,440 You can help any unknown publisher. 1351 01:06:00,520 --> 01:06:02,320 In terms of marketing and distribution. 1352 01:06:02,720 --> 01:06:06,520 Secondly, on your site, you can give an upsell option, on every page. 1353 01:06:06,600 --> 01:06:08,360 It's written, 'Make your cover, ' 1354 01:06:08,600 --> 01:06:11,680 you can add 'Need help? Upgrade to the next plan.' 1355 01:06:11,760 --> 01:06:13,920 Same thing with the fonts. 1356 01:06:14,080 --> 01:06:16,720 'Need help? Upgrade to a better plan.' 1357 01:06:16,880 --> 01:06:19,200 So your revenue might go up even further. 1358 01:06:19,280 --> 01:06:20,760 I'm just giving you some growth tips. 1359 01:06:20,840 --> 01:06:22,160 Thank you so much for the feedback, Aman. 1360 01:06:22,200 --> 01:06:23,280 That's really valuable. 1361 01:06:23,360 --> 01:06:25,240 These are my two suggestions, guys. 1362 01:06:25,680 --> 01:06:26,720 All the best. I'll be out. 1363 01:06:26,760 --> 01:06:28,360 - Thank you so much. - Thank you so much. 1364 01:06:28,640 --> 01:06:31,840 You are not able to give the extra value 1365 01:06:31,960 --> 01:06:34,960 in terms of more reach for the 3,000 and 21,000 customers. 1366 01:06:35,040 --> 01:06:36,760 As of now, I think 1367 01:06:36,880 --> 01:06:39,960 that for the author it stops at 1368 01:06:40,160 --> 01:06:41,520 'My book is published.' 1369 01:06:41,680 --> 01:06:43,120 I would suggest 1370 01:06:43,200 --> 01:06:45,880 that you make a variable model 1371 01:06:45,960 --> 01:06:49,200 where your revenue to a large extent 1372 01:06:53,560 --> 01:06:54,920 You will also grow. 1373 01:06:55,120 --> 01:06:58,440 And for the author who is publishing, they get 1374 01:06:58,840 --> 01:07:00,000 the reach of 1,000 copies. 1375 01:07:00,120 --> 01:07:02,720 That is my suggestion. I don't like the fixed fee. 1376 01:07:02,840 --> 01:07:04,440 I think it's win-lose. 1377 01:07:04,600 --> 01:07:07,560 But you've built a fantastic business. 1378 01:07:07,720 --> 01:07:08,960 I'm out for now. Best of luck. 1379 01:07:14,240 --> 01:07:15,720 to enter this industry. 1380 01:07:16,040 --> 01:07:17,840 Because this is a big boy's game. 1381 01:07:17,960 --> 01:07:20,040 In 12 months 1382 01:07:20,280 --> 01:07:22,000 you will make 1.5 crore rupees. 1383 01:07:22,120 --> 01:07:24,960 Including your salaries, whatever the company is making 1384 01:07:25,240 --> 01:07:28,920 if you remove that, you both will take home 75 lakhs each. 1385 01:07:29,240 --> 01:07:31,600 That's fantastic at 24, boss. 1386 01:07:32,400 --> 01:07:34,400 You've come this far with it. 1387 01:07:34,520 --> 01:07:37,720 But there's a big storm brewing. It's called AI. 1388 01:07:37,840 --> 01:07:41,160 You need to figure out what that will do to your business model. 1389 01:07:41,240 --> 01:07:42,600 Use it 1390 01:07:42,680 --> 01:07:45,440 and you can make something and create a platform, 1391 01:07:45,560 --> 01:07:46,840 for writers 1392 01:07:46,920 --> 01:07:48,120 not just to publish 1393 01:07:48,200 --> 01:07:50,560 but you can provide them 1394 01:07:50,760 --> 01:07:53,760 additional revenue opportunities. A company had started in Mumbai. 1395 01:07:53,880 --> 01:07:55,480 They do content writing 1396 01:07:55,560 --> 01:07:58,000 with AI and content writers and authors. 1397 01:07:58,120 --> 01:08:01,040 In the last five years, it has become a 100-150 crore company. 1398 01:08:01,240 --> 01:08:02,400 So, think about that. 1399 01:08:02,480 --> 01:08:05,120 I don't think you need to raise the capital. 1400 01:08:05,200 --> 01:08:07,080 That's the reason I'm out. Good luck. 1401 01:08:07,320 --> 01:08:09,920 - You guys are great. - Thank you so much, Anupam. - Thank you so much. 1402 01:08:09,960 --> 01:08:11,520 It's a fantastic business. 1403 01:08:11,600 --> 01:08:13,560 If anyone outside had told me 1404 01:08:17,080 --> 01:08:20,240 - I think what you're doing is unbelievable. - Correct. Agreed. 1405 01:08:20,480 --> 01:08:22,480 You're a kind of investor. 1406 01:08:22,560 --> 01:08:26,480 I think an author or writer is also a founder who keeps trying. 1407 01:08:26,680 --> 01:08:28,400 And you're giving them the access. 1408 01:08:28,560 --> 01:08:29,800 So you're a sweet Shark 1409 01:08:29,880 --> 01:08:31,960 who is giving them such easy access. 1410 01:08:32,040 --> 01:08:34,760 If you want to increase the profile of your publishing house 1411 01:08:34,920 --> 01:08:37,960 and you want to give equity, because you said you don't want money... 1412 01:08:38,440 --> 01:08:41,880 If you want to give equity, then bring two or three famous writers 1413 01:08:42,040 --> 01:08:43,400 along with you. 1414 01:08:43,600 --> 01:08:45,760 - Good idea. - Very good idea. - Publish their books through you. 1415 01:08:45,800 --> 01:08:48,560 I may not give as much value, 1416 01:08:48,640 --> 01:08:50,520 or even all Sharks may not give as much value. 1417 01:08:50,640 --> 01:08:52,720 Dilute your equity there, 1418 01:08:52,800 --> 01:08:54,400 so that there is a benefit on both sides. 1419 01:08:54,480 --> 01:08:57,680 - Writers will get confidence that famous writers are made here. - Very nice. 1420 01:08:57,840 --> 01:09:01,200 And your partners, be it Amazon or other publishers, 1421 01:09:01,360 --> 01:09:03,640 will talk to you on another level. 1422 01:09:03,840 --> 01:09:06,800 That will be the right dilution of your equity. 1423 01:09:07,080 --> 01:09:10,120 That's my sincere suggestion to you. And for that reason, I'm out. 1424 01:09:11,640 --> 01:09:14,160 Unfortunately, I'm out of this for now. 1425 01:09:18,920 --> 01:09:20,080 That's the only reason. 1426 01:09:20,080 --> 01:09:22,160 But best of luck. I think you guys will do very well. 1427 01:09:23,800 --> 01:09:25,680 I've written a poem for you. Let me read it out. 1428 01:09:26,400 --> 01:09:31,320 'You may have published many books' 1429 01:09:32,840 --> 01:09:37,280 'but you did not get any offer.' 1430 01:09:37,360 --> 01:09:38,880 - Oh, my God. - My God. - That is mean. 1431 01:09:39,000 --> 01:09:40,200 - That is mean. - Listen further. 1432 01:09:40,240 --> 01:09:41,960 - Sir, this is a diss. - Listen. 1433 01:09:42,600 --> 01:09:47,440 'But my dears, you have got suggestions' 1434 01:09:47,640 --> 01:09:51,880 'tell us what you learnt from this feedback.' 1435 01:09:53,920 --> 01:09:56,680 - Was it good? - It was very bad. - Firstly, we are very grateful. 1436 01:09:56,760 --> 01:09:58,720 - Was the feedback good? - It was very good. - We were able to come here. 1437 01:09:58,760 --> 01:10:01,600 We had the biggest learning here. 1438 01:10:01,760 --> 01:10:04,400 - Fabulous, guys. - Best of luck. - Good job, guys. - Thank you so much. 1439 01:10:04,440 --> 01:10:05,440 What about my poem? 1440 01:10:05,840 --> 01:10:07,040 Remember it. 1441 01:10:07,120 --> 01:10:08,120 We'll put this up on 1442 01:10:08,200 --> 01:10:10,200 BookLeaf's website for one day. 1443 01:10:10,280 --> 01:10:11,600 [laughing] 1444 01:10:12,240 --> 01:10:13,880 - Thank you so much. - All the best. 1445 01:10:13,960 --> 01:10:15,080 So proud of you. 1446 01:10:15,640 --> 01:10:16,800 Do well. 1447 01:10:16,880 --> 01:10:20,280 'Doesn't matter that we did not get the deal. But the feedback they gave us' 1448 01:10:20,480 --> 01:10:23,320 'was more valuable than any deal.' 1449 01:10:23,440 --> 01:10:25,920 We came here for their mentorship. 1450 01:10:26,120 --> 01:10:29,560 What they gave us in a few seconds or minutes, 1451 01:10:29,640 --> 01:10:32,600 we're very sure it will stay with us for many years to come. 1452 01:10:32,680 --> 01:10:34,800 We knew that five Sharks, 1453 01:10:35,000 --> 01:10:36,240 five founders 1454 01:10:36,320 --> 01:10:38,080 who have achieved so much in their lives, 1455 01:10:38,160 --> 01:10:40,600 we wouldn't have got one hour of theirs any other way, 1456 01:10:40,720 --> 01:10:42,480 other than Shark Tank. 1457 01:10:42,600 --> 01:10:44,320 We are very grateful for that. 1458 01:10:44,600 --> 01:10:46,880 'Artist - Harinath' 1459 01:10:46,960 --> 01:10:49,120 'ACKO Welcome Change' 1460 01:10:52,760 --> 01:10:54,320 Welcome to ACKO Change Makers. 1461 01:10:54,400 --> 01:10:55,680 Where we really welcome change. 1462 01:10:56,040 --> 01:10:59,080 Just like this beautiful portrayal on our Change Maker's Wall. 1463 01:10:59,440 --> 01:11:01,080 With the help of innovation and connectivity 1464 01:11:01,120 --> 01:11:02,560 we are creating a digitally empowered 1465 01:11:02,640 --> 01:11:03,880 sustainable future. 1466 01:11:04,440 --> 01:11:07,160 Our Change Makers for today are Musavir and Shivangi. 1467 01:11:07,280 --> 01:11:09,200 - How are you, friends? - Very good. - Very good. 1468 01:11:14,560 --> 01:11:16,280 It moves ahead based on that. 1469 01:11:16,360 --> 01:11:18,160 The society moves in the direction that literature is moving. 1470 01:11:18,200 --> 01:11:19,320 - That's right. - And vice versa. 1471 01:11:19,360 --> 01:11:22,280 You're giving a voice to new writers, 1472 01:11:22,400 --> 01:11:23,800 you're giving them a platform 1473 01:11:23,880 --> 01:11:26,280 where they can publish their writing. 1474 01:11:26,360 --> 01:11:29,080 So that they can give their voice a direction. 1475 01:11:29,200 --> 01:11:32,440 It's genuinely a commendable job. We really appreciate your change. 1476 01:11:32,640 --> 01:11:34,440 I'd like to ask you a question 1477 01:11:34,600 --> 01:11:37,680 on behalf of our home viewers. What change can they bring 1478 01:11:37,840 --> 01:11:41,080 in their daily life, which can improve their reading and writing? 1479 01:11:41,160 --> 01:11:42,680 Okay, firstly, 1480 01:11:42,760 --> 01:11:45,560 you may not be able to start your reading and writing 1481 01:11:45,680 --> 01:11:47,720 because you feel it is too much work. 1482 01:11:47,840 --> 01:11:50,560 Tell yourself, 'I'll write. But I'll write just one sentence.' 1483 01:11:50,640 --> 01:11:51,520 'I don't have to write one page.' 1484 01:11:51,600 --> 01:11:54,280 'I will read just one sentence, not one page.' 1485 01:11:54,440 --> 01:11:55,560 The goal is to just begin. 1486 01:11:55,720 --> 01:12:00,080 - Okay. - Secondly, keep a book or diary and pen near your bed. 1487 01:12:00,520 --> 01:12:02,920 While going to bed you will feel like writing. 1488 01:12:03,080 --> 01:12:04,760 You will write something good or read something good. 1489 01:12:04,760 --> 01:12:06,440 Or you will feel sleepy and sleep on time. 1490 01:12:06,520 --> 01:12:08,800 - It will help you reduce your screen time. - Hmm. 1491 01:12:09,240 --> 01:12:11,320 Very nice advice. Thank you so much for the answer. 1492 01:12:11,440 --> 01:12:13,480 The change you are bringing is much needed, 1493 01:12:13,560 --> 01:12:15,960 just like Acko is bringing much-needed change 1494 01:12:16,040 --> 01:12:18,960 in the insurance space with its revolutionary offerings. 1495 01:12:19,200 --> 01:12:21,120 Now you can save yourself from the countless calls 1496 01:12:21,120 --> 01:12:22,400 while buying car insurance 1497 01:12:22,640 --> 01:12:25,600 and avoid the confusion regarding the price and policy coverage. 1498 01:12:25,880 --> 01:12:27,480 Get car insurance directly from Acko. 1499 01:12:27,560 --> 01:12:30,960 It's easy, transparent, hassle-free and the premium is also good. 1500 01:12:31,120 --> 01:12:33,000 To celebrate your time at Shark Tank, 1501 01:12:33,120 --> 01:12:36,120 we'd like to give you a gift from Shark Tank and Acko. 1502 01:12:36,400 --> 01:12:38,240 [joyful music] 1503 01:12:39,080 --> 01:12:40,080 - Here. - Thank you. 1504 01:12:43,920 --> 01:12:45,640 [sound of the water tank] 1505 01:12:47,880 --> 01:12:50,880 It is said that technology is considered most impactful 1506 01:12:50,960 --> 01:12:53,280 when it can bring a big change in human life. 1507 01:12:53,400 --> 01:12:56,120 Proxgy brings you made-in-India patent technology. 1508 01:12:56,200 --> 01:12:59,280 You can book your live assist and view it anywhere. 1509 01:12:59,400 --> 01:13:01,520 This is a multi-payment gateway audio box. 1510 01:13:01,600 --> 01:13:04,760 This will enable video commerce and it is also on as a sound box. 1511 01:13:04,880 --> 01:13:08,280 We are asking for 35 lakh rupees for 1% of the equity. 1512 01:13:08,360 --> 01:13:09,640 Our today's founders 1513 01:13:09,720 --> 01:13:14,680 empowered industrial workers through IoT and smart variables, 1514 01:13:14,760 --> 01:13:17,920 while simultaneously saving many businesses from revenue loss. 1515 01:13:18,440 --> 01:13:21,400 Ashneer and I, both the Sharks, will come to help you. 1516 01:13:21,480 --> 01:13:23,760 - We are coming for 10%. - It's a deal! 1517 01:13:23,840 --> 01:13:25,120 - Very nice! - Thank you so much. 1518 01:13:25,160 --> 01:13:26,480 Thank you so much. 1519 01:13:27,560 --> 01:13:29,840 Hello and welcome to Adani presents Beyond The Tank. 1520 01:13:29,920 --> 01:13:33,480 Adani celebrates the 'We show it by doing it' spirit of every Indian. 1521 01:13:33,640 --> 01:13:36,800 In this special segment, we honour founders who have turned 1522 01:13:36,880 --> 01:13:40,600 their dreams into reality with their hustle. 1523 01:13:40,680 --> 01:13:43,680 We have with us the founder of Proxgy, Mr Pulkit Ahuja. 1524 01:13:43,760 --> 01:13:45,400 - How are you, sir? - I'm good. How are you? 1525 01:13:45,440 --> 01:13:46,880 I'm great. You came here in Season 1. 1526 01:13:46,920 --> 01:13:49,920 We came here three years ago in Season 1. 1527 01:13:50,040 --> 01:13:52,480 And today too, when we were coming in the morning, 1528 01:13:52,560 --> 01:13:54,400 nostalgia was kicking in. 1529 01:13:54,600 --> 01:13:59,400 All the events of that time have now become milestones. 1530 01:13:59,480 --> 01:14:01,000 I found it very interesting. 1531 01:14:01,080 --> 01:14:03,080 Look, everyone knows what happened in season 2. 1532 01:14:03,200 --> 01:14:05,080 That it's a huge show and it's a big opportunity. 1533 01:14:05,120 --> 01:14:06,960 But you came when no one knew, 1534 01:14:07,040 --> 01:14:08,600 so what were your expectations? 1535 01:14:08,680 --> 01:14:11,680 - We were the guinea pigs. - You surely were! 1536 01:14:11,760 --> 01:14:15,880 We expected a particular valuation and thought we would get that. 1537 01:14:16,040 --> 01:14:18,520 When we went to the Tank, they showed us 1538 01:14:18,640 --> 01:14:21,520 the mirror that it should be like that and not like this. 1539 01:14:21,600 --> 01:14:22,880 If you look at it, 1540 01:14:23,040 --> 01:14:25,240 whatever happened, it made us what we are today. 1541 01:14:25,320 --> 01:14:27,080 When we were watching the pitch, 1542 01:14:27,160 --> 01:14:29,400 your co-founder was also with you. 1543 01:14:29,520 --> 01:14:30,880 - Inder. - Inder, yeah. 1544 01:14:30,960 --> 01:14:34,000 - So he is not here? - Inder took an exit from Proxgy 1545 01:14:34,080 --> 01:14:36,280 last year and he made a lot of money. 1546 01:14:36,440 --> 01:14:38,200 So he has now started his own company 1547 01:14:38,280 --> 01:14:40,960 which is called Factacy in the AI business. 1548 01:14:41,040 --> 01:14:44,760 - We raised one crore in Shark Tank... - Yeah. 1549 01:14:44,840 --> 01:14:48,520 And within one and a half years, Inder exited with 4 crores. 1550 01:14:48,600 --> 01:14:50,960 And I also became one of the investors in his company. 1551 01:14:51,160 --> 01:14:53,760 - Oh! - And the company is also doing good. 1552 01:14:53,840 --> 01:14:55,600 When you went from the Shark Tank, 1553 01:14:55,680 --> 01:14:58,240 we saw you got two sharks with your pitch. 1554 01:14:58,320 --> 01:15:01,560 But later, one of them did not make it to the deal, right? 1555 01:15:01,640 --> 01:15:05,080 Peyush and Ashneer offered to invest in the Tank. 1556 01:15:05,160 --> 01:15:08,880 We took the investment from Peyush, and not from Ashneer. 1557 01:15:08,960 --> 01:15:12,440 What changes do you think Peyush's arrival has brought to your company? 1558 01:15:12,560 --> 01:15:14,880 Both maturity and direction have come with him. 1559 01:15:14,960 --> 01:15:18,920 Because he has built a company from zero 1560 01:15:19,000 --> 01:15:20,480 and we are on that journey. 1561 01:15:20,560 --> 01:15:22,680 So you get to learn a lot from him. 1562 01:15:22,800 --> 01:15:25,960 He often advises in advance on what kind of deal you should make. 1563 01:15:26,040 --> 01:15:27,800 We get a lot of benefits from that experience. 1564 01:15:27,840 --> 01:15:29,080 You said something very interesting. 1565 01:15:29,080 --> 01:15:32,080 For example, you want to make a decision 1566 01:15:32,280 --> 01:15:35,760 but the sharks invested with you are saying no. 1567 01:15:35,840 --> 01:15:37,720 So who takes the final call in such a case? 1568 01:15:37,800 --> 01:15:40,000 In such a situation, what our ancestors said seems 1569 01:15:40,080 --> 01:15:42,240 to be correct, that listen to everyone and do what you want. 1570 01:15:42,280 --> 01:15:45,520 Oh, is that so? Put it on the ancestors. 1571 01:15:45,920 --> 01:15:49,000 You came here last time as an inventor. 1572 01:15:49,120 --> 01:15:50,960 Where did you learn to talk in such a way? 1573 01:15:51,040 --> 01:15:54,520 Aman said you need a Rocket Singh. 1574 01:15:54,640 --> 01:15:57,040 I think you need a salesman. 1575 01:15:57,160 --> 01:15:59,120 A salesman like Rocket Singh. 1576 01:15:59,200 --> 01:16:00,920 - Oh! - So while searching for that Rocket Singh, 1577 01:16:00,920 --> 01:16:02,240 I've also learnt to talk like this. 1578 01:16:02,240 --> 01:16:03,080 So did you find your Rocket Singh? 1579 01:16:03,160 --> 01:16:05,240 - Actually, we have 3-4 of them. - Oh! 1580 01:16:05,320 --> 01:16:06,680 After searching a lot. 1581 01:16:06,840 --> 01:16:08,920 I think if we had not come here, 1582 01:16:09,000 --> 01:16:11,640 we would have been looking for a Rocket Singh, 1583 01:16:11,880 --> 01:16:13,760 so it would have been very difficult to do this. 1584 01:16:13,800 --> 01:16:15,040 It's pretty easy now. 1585 01:16:15,120 --> 01:16:17,280 I was looking at your products. This is quite different from that. 1586 01:16:17,320 --> 01:16:19,480 There is a lot of improvement in design 1587 01:16:19,600 --> 01:16:21,720 and technology has become very advanced. 1588 01:16:21,800 --> 01:16:23,920 Used cases based on certification 1589 01:16:24,000 --> 01:16:26,160 which we wanted to be accepted in the market. 1590 01:16:26,320 --> 01:16:28,360 So you can see those differences in this. 1591 01:16:28,440 --> 01:16:30,960 There are a lot of changes to the products. That's a different story. 1592 01:16:31,000 --> 01:16:33,600 Because we had to completely pivot from B2C to B2B. 1593 01:16:33,680 --> 01:16:34,880 Okay, this is your favourite? 1594 01:16:34,960 --> 01:16:40,200 If any worker is working anywhere and even if he is working alone, 1595 01:16:40,280 --> 01:16:46,120 it's the smartest product for his safety, security and connectivity. 1596 01:16:46,200 --> 01:16:48,520 - And where do you make them? - This is all made in India. 1597 01:16:48,600 --> 01:16:49,280 Very nice, man! 1598 01:16:49,360 --> 01:16:51,640 Another interesting thing is that when you came to pitch, 1599 01:16:51,720 --> 01:16:53,600 you had already got six patents and 1600 01:16:53,680 --> 01:16:55,000 also mentioned many pending ones. 1601 01:16:55,000 --> 01:16:56,480 We have around 70 patents, 1602 01:16:56,600 --> 01:16:59,080 out of which, 40 are granted and the rest are pending. 1603 01:16:59,200 --> 01:17:02,360 You went out and met the President there. 1604 01:17:02,440 --> 01:17:05,440 How do they view an Indian inventor? 1605 01:17:05,520 --> 01:17:07,360 The experience in South America was great 1606 01:17:07,440 --> 01:17:10,520 and as far as the US is concerned, let me tell you an instance. 1607 01:17:10,600 --> 01:17:14,600 We had lunch with a CEO with billion-dollar funds 1608 01:17:14,680 --> 01:17:17,240 in Charlotte, North Carolina. 1609 01:17:17,440 --> 01:17:20,280 When we showed them all this there, 1610 01:17:20,480 --> 01:17:22,520 their team was super impressed. 1611 01:17:22,640 --> 01:17:27,080 They asked how much time and money was spent on making all this. 1612 01:17:27,160 --> 01:17:30,400 So we told them it took 3 years 1613 01:17:30,720 --> 01:17:33,400 and cost around a million dollars. 1614 01:17:33,480 --> 01:17:34,840 - 8-10 crore rupees. - Okay. 1615 01:17:35,000 --> 01:17:37,800 So while they were having lunch, 1616 01:17:37,920 --> 01:17:40,920 two men from their team stood up and said 'What!' 1617 01:17:41,840 --> 01:17:42,840 'Are you serious?' 1618 01:17:42,920 --> 01:17:45,280 You did all this in one million dollars 1619 01:17:45,600 --> 01:17:48,640 whereas it takes at least 50-60 million dollars to do all this here. 1620 01:17:48,760 --> 01:17:50,520 And what has been your journey 1621 01:17:50,600 --> 01:17:52,560 in terms of growth after Shark Tank in numbers, 1622 01:17:52,640 --> 01:17:53,960 if you want to share that? 1623 01:17:54,040 --> 01:17:55,480 Basically, if Rs 1 crore was at 10%, 1624 01:17:55,480 --> 01:17:57,120 then the valuation of the entire company 1625 01:17:57,200 --> 01:17:58,520 became Rs 10 crore at 100%. 1626 01:17:58,600 --> 01:17:59,840 This was three years ago. 1627 01:17:59,920 --> 01:18:02,360 We have done four funding rounds in three years. 1628 01:18:02,400 --> 01:18:04,360 And in the recent round we conducted, 1629 01:18:04,480 --> 01:18:07,320 - our valuation is now 400 crores. - Okay! 1630 01:18:07,440 --> 01:18:09,360 It has increased 40 times in three years. 1631 01:18:09,440 --> 01:18:12,440 Several well-known investors have come in, 1632 01:18:12,520 --> 01:18:13,520 like Nikhil Kamath, 1633 01:18:13,760 --> 01:18:15,160 Suniel Shetty sir, - Okay. 1634 01:18:15,240 --> 01:18:17,440 Mr Ajinkya Rahane, the cricketer. 1635 01:18:17,560 --> 01:18:19,600 There's also a fund from the Rajasthan Royals team, 1636 01:18:19,680 --> 01:18:21,720 in which he owns some stake, and that fund has come. 1637 01:18:21,800 --> 01:18:23,520 Within two months 1638 01:18:23,600 --> 01:18:29,240 of Shark Tank airing, we received 40 calls from big companies, 1639 01:18:29,360 --> 01:18:31,800 including government bodies, asking us to come, 1640 01:18:31,880 --> 01:18:35,240 explain how it works, and customise it for their use. 1641 01:18:35,320 --> 01:18:37,200 It's a proud moment for Shark Tank as well 1642 01:18:37,280 --> 01:18:38,920 that you came on our platform 1643 01:18:39,040 --> 01:18:40,680 and are now working with the government. 1644 01:18:40,760 --> 01:18:42,400 You are winning such prestigious awards. 1645 01:18:42,480 --> 01:18:46,040 It is inspiring to me for sure, but for different 1646 01:18:46,200 --> 01:18:49,480 businesses, when you sometimes face doubts or dilemmas 1647 01:18:49,720 --> 01:18:51,640 about whether you are doing the right thing, 1648 01:18:51,720 --> 01:18:53,560 this is also a learning. 1649 01:18:53,760 --> 01:18:56,000 If you take feedback and adjust 1650 01:18:56,080 --> 01:18:57,600 according to the market, 1651 01:18:57,720 --> 01:18:59,360 then if you believe in your product, 1652 01:18:59,520 --> 01:19:01,000 you can sell. 1653 01:19:01,080 --> 01:19:03,240 You are doing great work. Thank you so much 1654 01:19:03,320 --> 01:19:04,680 - for your time today. - Thank you, lovely talking to you. 1655 01:19:04,680 --> 01:19:07,760 And I hope that next time, your 40X turns into 400X. 1656 01:19:07,840 --> 01:19:11,520 Pulkit, you didn't just take your business valuation to 40X, 1657 01:19:11,720 --> 01:19:14,960 but also saved businesses crores of rupees 1658 01:19:15,080 --> 01:19:16,240 while 1659 01:19:16,320 --> 01:19:20,160 improving safety, productivity, and connectivity. 1660 01:19:20,360 --> 01:19:22,560 You have truly made it happen. 1661 01:19:22,840 --> 01:19:25,960 And to honour this achievement, we want to give you a special place 1662 01:19:26,040 --> 01:19:27,640 in our Adani Hall of Achievements. 1663 01:19:30,000 --> 01:19:32,840 How does it feel to relive these moments? 1664 01:19:32,920 --> 01:19:34,840 It's amazing. I'm feeling very nostalgic. 1665 01:19:34,920 --> 01:19:36,760 Coming back to where it all started. 1666 01:19:36,840 --> 01:19:39,280 It feels great to be here. We hope you keep coming back. 1667 01:19:39,400 --> 01:19:42,760 To appreciate your 'we make it happen' attitude, 1668 01:19:43,000 --> 01:19:44,880 a special gesture from Adani. 1669 01:19:45,080 --> 01:19:46,360 Thank you so much. 1670 01:19:49,480 --> 01:19:51,000 - Hi. - How are you? 1671 01:19:51,120 --> 01:19:52,560 - Great. How are you? - Oh, god! 1672 01:19:53,000 --> 01:19:55,160 You've become successful. Since you made your deal here, 1673 01:19:55,200 --> 01:19:56,600 everybody was criticising me. 1674 01:19:56,760 --> 01:19:58,560 But what's happening now? 1675 01:19:58,680 --> 01:20:00,280 Lots of progress. 1676 01:20:00,360 --> 01:20:02,880 We have moved far beyond shopping 1677 01:20:02,960 --> 01:20:04,360 - and are now helping industries. - And you came in when... 1678 01:20:04,400 --> 01:20:06,280 I don't even remember. 1679 01:20:06,360 --> 01:20:08,360 - You have raised a new round now, right? - Yes. 1680 01:20:08,480 --> 01:20:11,120 - A big round. - I'm doing Series A, 400 crores. 1681 01:20:11,240 --> 01:20:12,000 Four hundred crores? 1682 01:20:12,080 --> 01:20:14,280 And what was your valuation when you came to Shark Tank? 1683 01:20:14,320 --> 01:20:15,880 - Ten crores. - 10 crores? 1684 01:20:27,960 --> 01:20:29,400 Because you need to focus. 1685 01:20:29,560 --> 01:20:31,160 But you are doing well. 1686 01:20:31,240 --> 01:20:32,760 - Good to see you, man. - Thank you. 1687 01:20:32,920 --> 01:20:33,920 Good to see you. 1688 01:20:34,040 --> 01:20:36,080 [Shark Tank theme] 1689 01:20:37,840 --> 01:20:40,760 Welcome to Ask the Shark. Today, we have a Shark with us 1690 01:20:40,920 --> 01:20:42,080 whose heart is so big 1691 01:20:42,200 --> 01:20:44,480 that even it needs a PIN code. With us is 1692 01:20:44,760 --> 01:20:47,280 the co-founder and CMO of boAt Lifestyle, Mr Aman Gupta. 1693 01:20:47,440 --> 01:20:48,440 Good to see you again. 1694 01:20:48,480 --> 01:20:49,520 Are you ready for the question? 1695 01:20:49,520 --> 01:20:51,000 It's a bit fiery today, alright? 1696 01:21:16,040 --> 01:21:18,520 Because these different perspectives in life are important. 1697 01:21:18,680 --> 01:21:20,240 If you look at it, 1698 01:21:20,320 --> 01:21:23,600 in the first season, there was a deal, 1699 01:21:23,680 --> 01:21:24,560 which was Let's Try. 1700 01:21:24,680 --> 01:21:28,200 The other Sharks didn't invest, but I did. 1701 01:21:28,320 --> 01:21:31,280 And that turned 12 lakhs into 12 crores. 1702 01:21:31,400 --> 01:21:34,240 When I was investing, others thought it wasn't investable, 1703 01:21:34,440 --> 01:21:37,400 but I saw something different, took a chance, and made money. 1704 01:21:37,520 --> 01:21:41,160 So, there are many deals where you might feel they are charitable, 1705 01:21:41,280 --> 01:21:43,720 but someone else sees a business opportunity. 1706 01:21:43,880 --> 01:21:46,080 Eventually, it is all about 1707 01:21:46,560 --> 01:21:47,680 your belief. 1708 01:21:47,760 --> 01:21:49,240 People didn't believe in our stories. 1709 01:21:49,720 --> 01:21:51,600 They didn't think we would grow big. 1710 01:21:52,200 --> 01:21:55,320 Touchwood, we have done well so far. And those who bet on us have 1711 01:21:55,760 --> 01:21:57,840 received great returns. So, 1712 01:21:58,080 --> 01:22:01,360 as I always say, there is nothing called a right or wrong investment. 1713 01:22:01,440 --> 01:22:02,560 It is your own judgement. 1714 01:22:03,040 --> 01:22:05,720 When you grow up and have money, 1715 01:22:39,560 --> 01:22:41,040 [laughs] 1716 01:22:42,840 --> 01:22:45,360 - Will you get this deleted too? - Alright, fine.