[music playing]
[theme music playing]
[theme music concludes]
Greetings, Sharks.
My name is Shashank Chourey
I've been a helluva curious guy since childhood.
I shouldn't have used that word.
But I've been really curious since childhood.
And owing to that curiosity,
I've seen many adventures in life
from hacking in IT to digital marketing
and even fish farming.
I've been extremely fond of perfumes since I was a kid.
When I didn't have money as a kid,
I'd fulfil that desire by collecting incense sticks and soaps.
Once things got better,
I experienced luxury fragrances as well as collected them.
Once, I was gifting perfumes to my employees at the office.
I noticed that the pricing of luxury perfumes was very high.
My curiosity got the better of me.
"Why are they so expensive?"
Upon conducting research, I learned
that most luxury brands work with very high margins.
So, I thought of looking for perfumes that were not so costly.
I saw they were spending more on branding, packaging and bottling
and no real value was being added to the actual perfumes.
That got me thinking again
and I thought of doing something different.
And EM5 came into being.
EM5 is a perfume brand
offering high-quality luxury fragrances to consumers
at affordable rates.
We redefined the technicalities of fragrances.
We set up our own manufacturing unit
and launched our products
with minimalistic and simple packaging.
Because of being effective, today, within just two years,
we operate at a monthly run rate of Rs. 1.7 crores.
I want to leave a mark of my scent in this growing industry,
for which my ask is
Rs. 70 lakhs for 2% equity.
...to experience the mystical, unseen and magical world of perfumes?
Oh, my!
Welcome, Shashank, to the Tank.
Please give us your educational and family backgrounds.
I did my schooling in Indore.
Born and brought up in Indore itself.
I've studied till the twelfth grade.
I dropped engineering and took admission in electronics.
My interest was in the IT field.
You didn't study after twelfth grade!
I went to college for a year.
I taught my teachers a little bit.
- As in? - [Anupam laughs]
- As in? - He's joking.
Sir, I...
When I was in my first year,
I used to give lectures at NIT and others.
I had more exposure to IT.
- Web security and network security... - You were basically a hacker.
Yes. I don't prefer saying it because it sounds like I'm flaunting
but yes, I was a professional hacker.
Talking about my first job, sir.
I hacked the website of the company's clients,
told them to sell x services to their clients
which I then offered to correct.
When you hacked the company's website, didn't anyone file an FIR?
No. Not hack them, sir.
- We'd enlist the vulnerabilities. - Okay.
Cite the loopholes.
For instance, someone's shoelaces have come undone. We don't trip them.
We tell them, "Your laces have come undone."
"I can tie them for you or you might fall."
Good analogy.
So, I did a job for 7 to 9 months.
After that, I started my own IT company.
And thereafter, we kept growing.
We were at a good scale by 2016.
After that, I deviated. I wanted to do something else.
In 2018, I decided to get into fragrances.
I was very fond of it
and I understand a few technicalities of how it works.
We had just begun when the lockdown was imposed.
EM5 was put on hold during the lockdown.
We were concentrating on our business
as it was booming back then.
Everyone was working from home.
It was a challenge for us
to operate with these many people in a remote structure.
We learned those things at that time and were all set.
That brought in automation.
When the lockdown ended, I appointed a CEO in the company.
When I returned to work,
I saw there wasn't much for me to do
because everything was automated.
If I tried to do something also, I'd end up ruining their processes.
So, I'd just sit quietly.
I got very bored.
I'm not the kind of person
who can sit idly at the office or home.
In June 2022, we brought EM5 back which was in sleep mode.
- You're a sleeping founder in one company. - Yes.
- Which makes perfumes. - And a fish farm too.
- Okay. What's that? - I started it during the lockdown.
- Recirculatory Aquaculture System is a technology from Israel. - Okay.
It is designed to produce fish
- utilising minimum land area and water. - Okay.
Are you still the founder of that company?
- Sir... - Is that automated too?
There's a guy on the farm. I went there six months ago.
Who runs it?
My colleague.
Sir, I build a company...
- Okay. - Set it up,
give the shareholding to the person along with whom I started it
and ask them to run operations too.
- Okay. - Give it to me, I'll run the company for you.
Okay, got it.
What's India Infotech's revenue?
India Infotech is a group of three companies.
- Oh! - Whoa!
[laughter]
- No problem, tell us. - An illusion!
- Tell us. - Yes, go on.
Give us the sum total.
- About Rs. 10-12 crores... - Rs. 10-12 crores annually?
- Annual revenue. - Okay.
- See, I think... - Hang on.
- Shashank... - Let me speak. Wait.
- Yes, tell us. - It'll show only two private limited companies.
Just two! Okay.
Two private limited companies
- and the rest are proprietorships. - Yes.
- I can provide all the documents. - No, it's fine. I was just asking.
What's the scale of the fish farming?
Sir, the scale is small.
It has a revenue of about Rs. 1.5 crores
with a profit of 30 to 40%.
- How much profit comes to you? - Sir, 50%.
50% of Rs. 50 lakhs.
- So, Rs. 25 lakhs comes to you annually. - Yes.
- No, the CEO... - He gets his pay. This is over and above.
- He gets a salary. - After that.
What is his salary?
Rs. 3.5 lakhs, sir.
- Monthly? - Yes.
What does EM5 mean?
- It has no meaning, ma'am. - I see.
- Good. Chanel No 5. - Love it.
- Number 5 has a story to it. - You borrowed "5" from it.
No. Sir, if I'd used 7, we'd have been "MI7"!
- A number's just a number. - Good one.
- Shashank!
Can you show me the products?
[music playing]
- The three rightmost products are for you. - These?
- That... - Did you pick them for me?
It's easy to guess your choice.
How so?
Smell it and let me know if I got it right.
[music playing]
- Is this oud? - The third...
- Yes, you can pick anything. - And I'll pick this also.
It's good.
The USP is that it doesn't blast.
If you're attending a meeting, carry it in your pocket
and apply it just before you enter.
People won't complain of you being doused in perfume.
It will have a smooth hug factor around you.
Tell me something.
- Many perfume brands have come to Shark Tank. - Yes.
- Isak came in Season 1. - Yes.
- Then Adil Qadri too. - Yes.
So, how does the perfume industry work?
And how do you differentiate between each other?
Sir, if you want to launch perfumes, it's a three-hour job.
Go to Ahmedabad or Gurugram.
There are companies who'll do the job.
They'll give you the ready products.
Go to their studios.
They'll show you the bottles,
the cap, the outer packaging and some fragrances.
Make your selection. Your brand will be ready in 3 hours
and you'll get the delivery in a month.
If you take Amazon or anyone else,
you'll see 3-4 companies making the maximum brands.
So, their technical expertise is the same as your product's.
Your competition sits right beside you
and is made by the same company.
So, it doesn't take much time to build brands.
You make a proprietary company manufactured by the same XYZ...
If they can make similar fragrances like yours...
They can't.
What's the difference?
You've got Aghori, sir.
We've extracted the oil.
- I disagree because Isak makes its own perfumes too. - Yes.
What about Bella Vita?
Third-party manufacturing, sir.
They innovate their own scents.
- Bella Vita is a... - Yes, they do.
- Now, they are... - No, the biggest trend is,
what a lot of these brands,
including the one you named, are doing is this.
They choose the global bestsellers of international luxury brands
that sell for Rs. 10,000.
They duplicate the same scent.
- The difference in quality... - Isak failed but Bella Vita did it.
So, what happens is
the difference in quality, in international versus Indian,
you can smell it for 12 hours.
Okay. May I give you a demo?
I have two fragrances here.
An international high-end brand
sold in the range of Rs. 10,000 to 20,000.
I've sprayed it on the right strip.
And on the left one,
it's this version.
You barely sprayed that one and spritzed yours a lot.
- There's a difference. - No, two sprays and four sprays
just to match the MCL.
The international one is already more intense.
No, it has more alcohol and hence is evaporating faster.
- I'm an Indian consumer. - Yes.
I want two things.
- Intensity and long-lasting. - Okay.
- This... - They're reverse proportional.
Coming to the intensity.
If there is a projection, the oil is bound to evaporate.
The faster the evaporation, the faster will be the projection
but the sooner it will finish also
because the oil has evaporated.
So, you claim
that after 12 hours, this one will smell stronger.
Mine will smell stronger.
- Suppose I make you a conditional offer. - Okay.
- This will smell stronger after 12 hours. - Done!
- On any fragrance. - Okay, fine.
What's a premix?
It is used to blend these oils.
Don't others do that?
Everyone has their own formulations.
For instance, a woody fragrance.
Let's take Aghori.
- Tonalid is a fixative or a base note of wood. - Yes.
If tonalid is added to the fragrance,
it won't disturb the fragrance profile
but will increase the lasting.
- Now, the... - There are so many perfumeries in the world
and in India as well like Fogg and Kimirica.
Why couldn't they do what you've done?
Sir, because our benchmark was this.
What was your benchmark?
- This. - This is no big deal.
Any branded... Any France-based perfume company. Any big brand.
Until I didn't achieve that benchmark,
I didn't launch my sprays in the market.
- We only sold roll-ons until then. - I see.
There are many products here.
There is perfume,
- beard... - Beard Balm.
We sell Body Mists only in sets.
Rs. 999 for a set of 3.
Very expensive.
Rs. 499 for Beard Balm.
Rs. 999 for a 50 ml perfume spray bottle.
Rs. 399 for the 15 ml perfume spray bottle.
Rs. 899 for the 10 ml roll on.
Rs. 249 for a single Solid Perfume.
- Candle Rs. 249. - Okay.
Tell me something.
Let's talk about your perfumes and body mists.
Relatively, what are their price points
as compared to other products in your category?
More or less the same.
If you take a single item, Rs. 300 is the average price point.
What is Bella Vita priced at?
What's your long-term vision? What do you want to do?
The perfume market in India is growing at a fast pace.
The online statistics say otherwise,
but if we take the top 5 or 6 perfume companies in India,
they alone generate a business of at least Rs. 5,000 crores.
What's their revenue?
- Rs. 500 crores. - Rs. 500 crores.
- How big is Titan SKINN? - It's bigger.
Their distribution is vast.
There are so many external factors...
- What do you wish to make? - I can compare myself to Bella Vita
because they are also majorly online.
The brand started from scratch.
- What do you want to build? - Titan is backed by Tata
and has distribution channels of Zodiac and Eye Plus.
Sir, extend Lenskart's distribution and I'll make a Titan out of this!
He's doing that.
- He's offering Lenskart's distribution in this season. - No.
What do you wish to make in 5 years?
Sir, making an online business of Rs. 500 crores
in today's times isn't a big deal.
So, you want to build a Rs. 500-crore business in 5 years.
- Sooner. - You want to make it sooner.
Okay, I've made my decision.
[tense music playing]
Your pro is you're very curious.
Your con is that I found you overconfident
about judging competition.
- See, I think this is a very competitive category. - Yes.
It has a lot of opportunity.
If you can't think of building a business bigger than Titan's...
It's possible to build. Why not?
Your thinking and actions have to be that far-reaching
- if you want this to be sustainable in the long term. - Hmm.
I don't see that in your vision, thinking and actions as of now.
So, I am out.
Tell us about the sales.
We did Rs. 1.7 crores last month.
Last year, sir, Rs. 8.35 crores.
- Crores! Very nice. - Yes.
D2C and from Amazon as well.
- You'll do both. - From our own website and Amazon as well.
Okay. What's your current distribution like?
How much on your own platform versus...
- 70% from our own website. - Hmm.
30% from marketplaces.
And from marketplaces, 25% is from Amazon
- and 5% is from other marketplaces. - Got it.
- Have you raised funding? - No.
How much have you invested in total?
I've invested a total of Rs. 2.3 crores.
We have an inventory of Rs. 1.7 crores at cost
We run out of some or the other product.
So, every month we have to procure
an inventory of Rs. 50-60 lakhs at least
although we don't have any debts, credits or loans.
Shashank, I see a capability in you to go big.
What other ideas are you currently working on?
What if you quit this and appoint a CEO?
- Do something else. - No, sir. This is a scalable market
and this category is gaining momentum quickly.
Switching would mean losing an opportunity.
Whoever doesn't do it is going to be late.
And I guess everything is on the right track.
I just need some guidance and help
because I've not been into this scale of business.
When your business touches Rs. 100 or 500 crores,
what paperwork is to be done, what must one predict and plan?
One has to change their views to run a business of that magnitude.
I need guidance on that.
Here's the deal, Shashank. Generally, in lifestyle businesses,
- one needs a brand, a story and a design language. - Yes.
Talking about your packaging.
These bottles are commonly available.
- Anyone can sell perfume in this. - Yes.
It's one of the simplest you can get.
- This is very standard and simple. - Right.
Nothing wrong with that. It looks okay.
- When I look at the body mist and this packaging... - Yes?
They will diminish the value of your perfume.
Okay.
This one is not bad. It's okay.
I expect that other brands will have something similar.
- So, now you get your products made and sell them, right? - Yes.
But if you want to really touch Rs. 100 or 1,000 crores,
you need to embrace a different story as well as direction, right?
- That's what we did when we launched Aghori. - Okay.
We created the story
around the product we were going to launch.
You'll get to see that connect
in its packaging and bottling. So, we're learning.
This fragrance was inspired by the character of an Aghori.
What's an Aghori?
- The Aghoris are basically sadhus. - Okay.
- They reside at cremation grounds. - I see.
- So, could this be an aspiration... - This is an aspiration.
Imagine an Aghori.
They dwell in charnel grounds and smear ashes on their bodies.
- Does this sell? - Who...
Sir, it's selling like crazy. It is priced at Rs. 1,999.
- Are you serious? - Yes, sir.
What percentage of your sales is this?
Sir, it launched just last month
Shashank, I'll make you an offer.
Oh, my!
You seem to me like a hustling founder.
I think there are a few gaps and the market is cluttered,
but I feel you can take this to a certain scale.
So, my offer to you is Rs. 70 lakhs for 5% equity.
[laughter]
Are you ready to pay royalty?
Um, I guess not.
What's the problem with giving 1%?
I feel that a royalty of 1% is a very small number, sir.
The size of the business,
- with the kind of returns I can deliver to you... - Got it.
- In multiples x's. - And...
In comparison to that...
I don't want you to chase after that 1%.
Give me an hour so I can take this to Rs 100 crores.
So, I'll make you an offer.
You don't need money.
- Not exactly, I need knowledge. - Okay.
You know who to go to then.
- Rs. 70 lakhs... - [laughter]
Rs. 70 lakhs... I'll make you two offers.
Rs. 70 lakhs for 4% equity.
Without royalty, Rs. 70 lakhs for 6% equity.
That could even be borderline overconfidence.
Here's why.
I've already compared them over 15 minutes.
You can see for yourself. I'll give them to you in the end.
This fragrance is stronger even now which is the international one.
So, when we vouch for our product with a lot of confidence
and don't back it,
it is a big problem, my brother.
I mean, I found your product claim to be the most impressive thing,
but that's not coming through yet.
Maybe, your fragrance might get stronger by evening
but I don't have the confidence yet.
I can't take a bet on you.
And you've got good offers.
I suggest you go ahead with them. I'm out for now.
Sure, ma'am.
Look, Shashank. One Shark who backed out has Adil Qadri.
He has Isak, so he's out too. No other reason.
You're a hustler.
You're the GOAT. And you know I run boAt.
So, I'll make you an offer.
[music playing]
Rs. 70 lakhs for 6% equity same as Anupam's offer.
because I want to work closely with you.
[tense music playing]
- Right? - Right.
Rs. 70 lakhs for 4% equity
- with 1% royalty till he gets 1x of his money. - Right.
Rs. 70 lakhs for 6% equity.
Rs. 1 crore for 10% equity.
Aman's offer is Rs. 70 lakhs for 6% equity.
- Rs. 1 crore for 10% equity. - Rs. 1 crore for 10%.
And Varun...
I'll match Anupam's royalty offer.
[music playing]
[tense music playing]
Aman, do we have royalty also in the deal?
No, I don't have royalty.
- I guess we have a deal. - Which one?
[camera shutter clicking]
No time, ma'am. I've to make Rs. 500 crores in 5 years.
- Oh, my! - We will.
- Good luck, buddy. - Thank you so much, sir.
- Okay, good luck. - Excellent meeting you guys.
Good one.
'Aman is an outgoing personality.'
'I feel like'
I'll connect more with Aman.
'The second good thing was he took 10% equity.'
'So, I'm happy.'
So, I know
that since his 10% is involved
and he has skin in the game.
So, he'll give us time.
He'll add whatever value he can to the company,
not just the money.
- Hello, Shashank. - Hello.
- Congratulations on the deal. - Thank you.
What made you do that?
As soon as Aman made an offer, you seemed attracted to accept it.
I felt that he was the person
I could talk to freely and share things with.
I personally don't know him,
but from what I've seen on screen and in interviews...
I believe work should be enjoyable
and it will be with him.
Plus, his industry experience...
I mean, everybody knows that in D2C, there is no one...
- He's a pro. - Absolutely.
So, both those points ticked off.
- There wasn't much to think about. - Great.
Well, you were under a lot of stress and you ought to relax
- because you've earned it. - Thanks a lot.
So, I bought you a few things from Swiggy Instamart to help you relax.
- How thoughtful! - Yes, sir.
along with oils and a scalp massager.
Look. It arrived in 10 minutes.
- Thank you. - I saw on TV
that people keep sipping on something while getting a spa.
Yes, of course.
- You know... - People are lying down
- with cucumber slices on their eyes sipping on a drink. - Coconut water.
You want coconut water, right? Say so.
It's daytime. Coconut water will do.
Ah, It's daytime! Absolutely.
No problem, I'll order it.
- It'll arrive in 10 minutes. - Perfect.
- You name it, Swiggy Instamart will get it. - Perfect, sir.
And you too can order whatever you want
be it day or night.
It'll arrive in 10 minutes.
Order now.
[theme music playing]
[theme music concludes]
Sharks, I wish to show you something.
Look at these pictures. What do you think?
Is that an apple?
No.
A pear?
An hourglass? No.
Sharks, these aren't just objects.
- They are body types. - Oh my God.
That belong to me, Vineeta and millions of Indian women.
When it comes to inclusivity and diversity,
India has no match.
And a lovely part of this diversity includes
the diverse curves of Indian women.
For the longest time,
we've been adjusting to the same old US and UK standard sizes,
and in this day and age
when Indian women are literally killing it
in every segment of their lives.
We do not want to settle for anything less than perfect.
So, we came up with WomanLikeU.
WomanLikeU is a vacation-wear brand
that is specifically engineered for Indian body types
...and women like them.
[upbeat music playing]
Oh!
Sharks, the modern-day consumers are well-versed with every sector
but when it comes to clothing,
they don't know what would suit their body type.
Imagine a woman from the Northeast and the other from down South.
Both are Indian
and both might possibly be a size XL.
However, their body structures are so different
that one might be pear-shaped and the other, heart-shaped.
The same print, cut and silhouettes wouldn't suit them both.
To solve this problem,
we came up with an easy and simple solution.
We standardised the body types of Indian women.
Today, 100% products of WomanLikeU are engineered
...to find out their body type.
and make an informed buying choice.
which was swimwear.
selling the remaining categories would be comparatively easier.
So, after swimwear,
Our vision is
to become a one-stop shop for vacation wear in the next 5 years.
And our ask is Rs. 1 crore for 2% equity.
Shrijal and Zoheib!
I want to tell you that I watched your slide show
and I bought one of the swimsuits with the sarong that came on it.
- Oh, wow! - I have it and I really like it.
- Oh, that's so good to know. - Thank you so much.
For me, I didn't go through the journey
of figuring out my body shape.
I liked it on Instagram and bought it.
So, before we get into the business,
- maybe, if you want to let the models go... - Yes.
Thank you, girls.
- Thank you so much. You were stunning. - You're lovely.
- You were really good. - Thank you, guys.
- Tell us a little about your journey. - Sure.
How do you know each other and how did you two meet?
And when and how did the idea occur to you?
I was born and brought up in Ranchi.
After my schooling, I went to NIFT, Kolkata.
After graduating, I worked with a lot of Indian and global brands.
When I was working with UK brands,
garment tech there was at the core.
Shapes, fittings, fabric technology and production technology
play a very crucial role.
Brands are built on them.
When I worked with Indian brands,
the lack of Indian sizes and all,
it didn't turn out that great.
That seed was inside me.
I had to solve this because the population was large.
Then I joined a start-up, launched brands there.
That's where we met.
- Which start-up? - She joined as the Head of Design.
It was called Voonik.
- Voonik! I know Voonik. - Voonik.
- Of course. - I joined them as VP for private labels.
- In fact, I launched private labels there. - Oh.
So, we said, let's do this.
Of course, Shrijal and I were already in talks.
I was born and brought up in Delhi but my family is from Gujarat.
I wanted to be a fashion designer since childhood.
As a girl, I wrote this in all my essays too.
I'd make sketches of garments at the back of all my notebooks.
And that's exactly what I did.
When you say vacation wear,
define the categories as well, as of today.
We started out as a swimwear brand which was our first category.
Recently, we've launched dresses,
corsets as well as essentials.
In essentials, we have Boob Tape, Stick-on Bras...
So, primarily, these are our categories.
What's the scenario of swimwear in India?
The market is about Rs. 1,500 crores.
- Women? Women's swimwear. - Women's swimwear.
You displayed five body types.
What style would suit each body type?
Show us the mapping with examples.
The most common body type is a heavy bust and broader hips.
- Pear and heart-shaped bodies. - Yes.
For a heart-shaped body let's say,
there will be an adjuster at the back.
If you pull it down or up, the top portion will expand.
Please show us an example.
- Sure. - We cannot visualise it.
For example, this dress.
We added a lot of elastic at the back
which is ideal for a heart-shaped body
because it can expand a lot from here.
So, owing to this technicality,
it will fit a heart-shaped body well.
There are some products here also for you guys to touch and feel.
[music playing]
I have this, guys!
This is the one I have.
- Show us the calculator. - Sure.
When a buyer visits our website,
they can see a body type calculator on the home page itself.
You need to enter your bust, waist,
high hip and low hip here.
Then our system will tell you...
Let's say you're oval-shaped.
Now you have the information you didn't have. 'I am oval.'
Then you can go to the oval-shaped curated collection.
And then according to your choice...
Understood! What percentage? I'll just pause you there.
What percentage of your buyers
use this process to make a purchase?
Around 50%-60% of people
use this calculator before making a purchase.
No, that's fine. That's a good number.
Say I purchased without using the calculator,
will you change the product?
No! You can totally go for that. That's totally up to you.
But our USP is that if you
have a specific body type or an area of concern,
something many women experience, trust me.
Some wish to hide certain parts, while others aim to accentuate them.
When they express their concerns,
we provide recommendations accordingly,
giving them the impression of complimentary styling.
Labelling body types
as pear, apple, hourglass, or heart,
doesn't that in some way objectify women?
If you want to stand out
as an inclusive and anti-discriminatory brand,
you might need to rethink such terms.
You need to come up with something different. I think!
It depends totally on you.
No, that is a good point. We will think about it.
You said it is a Rs. 1,500 crore market.
You couldn't penetrate much in it
and before that, you expanded the category.
Because A, we were chasing profitability.
We wanted growth without any burn.
Secondly, we have limited funds.
We can't spend it all and...
In a situation where funds were available,
would you have delayed category expansion?
No! We would have scaled aggressively.
If we had funds, we wouldn't have invested in brand building.
Don't you think, in a highly competitive space,
you were scaling by concentrating on a niche,
don't you feel that focus has now shifted?
This is why we didn't expand into workwear
- or start selling ethnic Kurtis. - Yes!
- It is similar. - Vacation...
- This is vacation wear. - This is the first time I'm hearing
- the word 'vacation wear'. - Me too.
- I've heard of 'lounge wear'. - Correct.
- Swimwear. - Correct.
'Vacation wear' sounds intriguing,
but what are the pros and cons
of positioning yourself as vacation wear?
Let's start with the negatives because it's quite obvious.
We can't sell pants or suits in the future.
We can't sell Kurtis.
That is a big negative.
We may not be able to expand the category significantly.
I think that's a positive. But okay. Go on.
According to us, the positive is...
Another downside is that you will be selling more
- only twice a year, during vacations. - Correct.
Now come to the positive.
According to us, the positive is
that it becomes easier to explain to the user.
If I say resort wear, loungewear...
I do buy loungewear,
but I don't know if I should wear it in a lounge or what.
So, vacation wear is easy
even if no one uses it.
But the challenge it creates is
that you enter category creation.
You have to explain to people. For example.
If I hear WomanLikeU Vacation Wear,
I might visit them for hats.
- I haven't seen a single hat here. - Correct.
- Do you sell hats? - Not currently.
When you position it as vacation wear,
then you'll have to start thinking about bags, hats, and so forth.
- That they can. - Let's talk about business.
How many years has it been? How are you tracking?
- What are the numbers? Let's understand that. - Sure.
We started in July 2022.
FY22-23 was Rs. 34 lakhs.
That was under 9 months.
- On your website? - 100% on the website.
In FY23-24, it made Rs. 4.7 crores.
- Oh my! - Wow!
On your website?
- On our website. - Profit?
In FY24-25,
how much did you make in the six months and last month?
This year, we're aiming to close the top-line at around Rs. 11 crores.
And what was your last month's numbers?
70 top-line sales.
- How much was it in September? - 72.
How much was the profit?
Our profit is around 10%-12%
Is this profit before tax?
- EBITDA! - It's EBITDA.
- Your EBITDA. - Are there other expenses?
This year, if we are profitable, we will pay tax.
- Other than tax. - No.
- No interest, no loans, nothing? - Nothing else.
25-30 days.
Did it go down now, or was this the case always?
- Always. In the beginning, we didn't raise funds.
We raised a small fund. Frugality is in the DNA.
- Until now, 100% of business is on your website. - No.
- Now, we are on Nykaa. - This year?
Out of Rs 70 lakhs, almost 30% was from marketplaces.
70% purely from our website.
The new growth is primarily coming from the marketplace.
No! We are seeing new growth also because of category expansion.
What is the total number of unique customers
you've had and what are your repeat rates?
Around 40,000 unique customers have made purchases with us,
and to our surprise,
the repeat rate within a 12-month window is 37%.
What is the repeat rate for swimwear?
- Yes! - Absolutely!
How much is the repeat CAC?
It's Rs. 950. With 20%, it is around Rs. 180.
Vineeta, I have a question for you.
Is there a women-specific swimwear brand? Category winner?
Zivame, Clovia, these brands exist.
Does anyone cater to vacation wear?
H&M, Zara and all also have.
But swim focussed...
There are.
There is a brand called Tizzi.
Shivan & Narresh were already in that.
- Correct. - My question was related to that.
What is your pricing compared to those brands?
You mentioned two brands.
Our pricing is way lower than theirs.
Our average order value
is around Rs. 3,150-Rs. 3,200.
The average selling price of a swimwear SKU
is almost Rs. 2,700 to Rs. 2,800.
- Yes. - Tell us about Zivame and Clovia, they are mass brands.
Yes! Their price is much lower than ours.
They are around Rs. 2,200.
We have a USP
with swimwear. All our swimwear has cover-ups.
you will get a monokini or a bikini.
What is the range of your pricing?
Our swimwear pricing
starts from Rs. 1,699
and goes up to Rs. 6,999.
What was your funding?
Last year, in April 2023,
we raised Rs. 1.25 crores from 100X.VC
according to their cohort, in exchange for 15...
Tell us the cost.
Almost Rs. 1,000.
Tell us the entire unit economics.
Almost 35%-36% is COGS.
4% is shipping and packaging.
Another 35% is marketing.
Wow! Okay!
15% is fixed costs
- which are indirect. - So, we are left with 10%.
So, guys, this is a very competitive space.
- Sure. - To get to Rs. 4 crores and now Rs. 10 crores run rate,
you've done a good job.
- Thank you! - Right? I think you are at a very critical juncture
- in your business. - Yeah!
Where you need to answer some strategic questions.
Do you want to expand the category?
You have to decide between
profitability and growth. Right?
Today I am out because I think you need to answer these questions
- for yourself. - Sure.
But good job!
Thank you!
Category expansion is something that
- I am not confident about. It is happening too soon. - Okay.
And I think it will create more complications.
- Okay! - At a personal level,
I don't believe I can add too much value to this category.
Sure.
So, for that reason, I am out.
- But great job done. - Thank you!
The reason why this is for Indian women is because
- we want to wear international style swimwear. - Yeah.
But we sometimes feel conscious about the fits.
- Correct. - These styles
where the bikini
- covers the stomach... - Correct!
- Yes! - You provide a matching cover-up
so that I can only remove it
when I reach the swimming pool.
Matching sarongs.
In a few designs, there is a cut till here
- so that this portion is covered. - Correct.
I think that is your innovation.
- Correct! - That is what really stands out.
Somehow, while having the discussion today,
you barely mentioned that.
I hate the brand name, logo, and the spelling of 'U'.
It is so bad. Believe me,
when I was buying, the only issue I had was,
what kind of brand is WomanLikeU'!
The designs and prints are so premium.
If you...
I'm sorry to say, but if the name sounds so cheap
with the spelling of 'U' like this,
it creates a bit of dissonance for the consumer.
- Okay! - My suggestion is that Waves By Shrijal
makes it seem like it's a premium brand.
- Okay! - Even if you are selling products for around Rs. 3,000,
you need to make the consumer
feel that she's buying aspirational luxury.
It should not be WomanLikeU.
That said, I really like the design and the quality.
So, I will give you an offer
- which you may not like. - Okay!
But it is what it is
because I don't think anyone else will give you an offer.
- So, Rs. 1 crore for 3%. - Okay.
Plus a 2% royalty
until I recover 1.5 times my investment.
...that is, you two as a combination for this market,
I'd say it's 9 or 10 out of 10.
Product market fit,
8 or 9 out of 10. Still very good.
But brand and positioning...
When I say brand, logo,
and fonts are all subjective.
Ultimately, only the customer knows
what they like. You have to try different things.
I'm unclear on your positioning.
If you are aiming to be inclusive,
why isn't that more visible?
You haven't used a tagline.
To eliminate discrimination, you can't use this lexicon.
That is where I'd say you need a lot of work.
- I would give you 1 or 2 out of 10. - Okay.
But still an amazing opportunity.
But I think Vineeta has made you a good offer.
I think she is the right partner for you.
I am out.
What is your view on the brand name?
The feedback we've received on the brand name
has been positive,
possibly because it's easy to explain.
The definition is easy.
In fact, we put a lot of thought into the logo,
it incorporates female symbolism.
I also agree. It's simple and easy.
I think it's different.
The design is great and the pricing is reasonable.
So, I'll match Vineeta's offer.
I am okay with royalty
till I get 1x return.
Have fun, Aman.
Vineeta, what will you do if they want both of us?
We'll give Rs. 2 crores for 5%.
And...
- Valuation? - Rs. 40 crores.
I have an issue with the branding. They won't change the logo.
Here is our counter.
- Both of you join us. - We knew it.
For Rs. 2 crores,
instead of 3% each, we'll give 5%. 2.5% each.
And Aman's royalty deal
of 1x.
I can't do it.
I am not okay with WomanLikeU.
- See, it's very close to us. It's not... - Okay.
I am out.
Because I have a serious issue with
- the name. I am sorry. - No problem.
So, Aman, Rs. 1 crore for 2.5% with the royalty you mentioned.
All right, guys! What do you want to do?
Yes or no?
- Thank you so much. - Thank you.
Hi! Pleasure to meet you.
Let's make the new category big!
Good!
[camera shutter clicks]
- Bye, Sharks! Lovely meeting you all. - Bye!
- Thank you! - Same here.
Very nice.
WomanLikeU
sounds emotionless.
It feels like someone picked out a name using an algorithm.
If you are creating a lifestyle brand
or a consumer brand,
then the brand name is everything.
The brand name itself triggers the first story
in your mind about what the brand is about.
Sugar wouldn't have been the same if it hadn't been named that way.
It applies the same to boAt.
Brand names for a consumer brand are very important.
But because the founders
were so rigid with keeping the name.
I wasn't convinced
they could turn it into a premium,
aspirational brand for women with this name.
With all due respect, we'd prefer not to take that opinion into account
since we've received
many more positive responses regarding the brand name.
And that is very close to our heart. So, we would like to stick to that.
We collect a lot of data.
I'm sure that if Vineeta didn't like it,
there are others who feel the same way.
But from all the surveys and focus group discussions we've conducted,
the brand name has always received positive feedback.
So, we'll go with data.
- Hello, Zoheib and Shrijal. - Hello!
Welcome to the PokerBaazi Zone, where you hold the cards.
- Thank you! - How was your experience?
WomanLikeU
All of them! Well...
I wanted to go with a lame joke.
When you've just started
and you are hustling, waiting for something to crack.
Then comes the growth phase. Where we've cracked something.
But there is a long way to go.
And then comes our maturity phase, where everything is cracked,
money is rolling in and there's success and fame.
I want you to share a story in this business journey
related to one of these phases.
What I remember now
is right after the introduction phase
- when you are about to enter the growth phase. - Yes.
In the early stages, when we were making a revenue
of Rs. 1-Rs. 2 lakhs per month,
we met with an early investor.
He clearly said that he will invest if we made Rs. 20 lakhs per month.
At that point in time, our revenue was really low.
It was quite steep.
We found ourselves in a dilemma
because we were already running on our savings.
How to achieve that was a huge step.
But I think we had a lot of faith in our idea.
And we thought we'll take the plunge.
We literally risked everything
and the results were out.
In fact, it was better than expected. So, we understood,
that your limits are as far as your thinking goes.
If you believe you can do it, you will succeed.
- Wow, that's a great insight. And good for you guys. - Yeah!
I was looking at these cards.
...apply your strategy and create a winning hand.
Download the app now!
'Shark Tank India, co-presented by ACKO Insurance,
'PokerBaazi and Swiggy Instamart.'
'Co-powered by Adani and Jaquar Bath and Light.'
'And partners, Rayzon Solar, ICICI Direct, '
'Lenskart and Sofy.'
[theme music playing]
Hi, ma'am!
I am a writer.
And this is the story of my life.
This is a symbol of my feelings and emotions.
I wish for this book to reach people
and for my poems and stories to touch everyone's soul.
Oh!
Ma'am, what was that?
Do you see this, Sharks?
We come across thousands of authors like him every day.
Is talent alone enough to make someone an author?
Do you want to get published? We will do it.
Oh!
But... Listen!
- What? - We will have the publishing rights.
- 90% profit will be ours. - What?
We will make the changes as per our liking.
Actually, we own you now.
I want to become an author, doesn't mean I'll agree to everything.
Despite so many conditions,
what guarantee that my book will be published in time?
Sharks, there is a writer in everyone.
But their story doesn't reach the people.
After enduring so much, if their story finally gets published,
the writer within them has already died.
In the world, around 6,000 manuscripts
are submitted every year to an average publisher.
Only 1%-2% get published
The reader should decide that.
And that's where BookLeaf Publishing comes in.
Hello, Sharks! I am Musavir Khurshid from Srinagar.
And we are the founders of BookLeaf Publishing.
This is a self-publishing platform
that gives authors complete control over everything,
from the cover to the content.
and over 100 global platforms.
Not just that, Sharks,
our authors get 100% royalty.
...more than 15,000 books in US, UK and India.
- Wow! - Our vision
is to empower every writer through BookLeaf,
enabling them to claim this right.
To achieve this goal,
Sharks, our ask is Rs. 90 lakhs for 5% equity.
Last time ever, by the way.
Musavir and Shivangi,
15,000 books and Rs. 9 crore in sale...
- Did you mean Rs. 9 crores? - Value!
- Yes! - INR.
I think books are a dying category.
You are reinvigorating it.
You are performing a good deed.
- Thank you so much. - We will hear about that.
But first, I want to know how old both of you are.
How did you both meet?
And how did this start?
Tell us about that.
We are 24 years old.
I am from Srinagar. I did my schooling from there.
I completed 12th grade in 2016.
In 2017, I took admission in BCA.
But I dropped out after two years.
In 2019, Article 370 happened in Kashmir, there was no internet.
That's when I took a leap
and decided to shift to Delhi.
That's when Shivangi and I met.
We met online.
After that, we met in person.
Where did you meet online?
We were both writers.
- Okay! - We have our page on Instagram,
where we used to write poetry.
- Wow! - We discovered each other there in 2017.
- On Instagram? - On Instagram.
- Wow! - Back then I wanted to publish my book.
She was also interested in it.
She asked me to keep her updated about the process.
That is when I got to know about the publishing world.
I emailed over 50 publishers.
I received a response from one publisher
and that too after 7 months.
It was a rejection email. To tell me they are not interested.
You have endured this.
Yes, I have.
That's when I discussed it with Shivangi
and she said, 'Is there some other route that you can take?'
We figured out what I needed.
I need a book's identification number.
who face similar problems.
But did your book get published?
My book got published.
- It was published. What about you, Shivangi? - Wow!
My book didn't get published.
I was updated about the process and everything.
And I studied English Literature at Kirori Mal College.
There were editors, designers,
we used to discuss.
Everything just got connected
and we also needed pocket money.
Did you like his poetry?
Yes, I did.
Recite poetry.
I stopped writing poetry.
Recite an old one.
You go first, then I will go.
- No, we don't want to hear your poetry. - We want to hear you.
We've heard your poetry.
- Poetry will be insulted. - I used to write in English.
It's not in Hindi or Urdu.
Recite it in English.
It was a couplet.
I remember the second verse.
I collected my heart's blood crystals
and preserved them all night long.
- Oh my! - As remembrances and souvenirs.
With which I shall adorn your collar.
- Oh! - You are a romantic.
Did you fall in love? Did your first love crush your heart?
- You liked his poetry, right? - Yes.
More than that, I used to like the backstory.
When I asked who he wrote this for,
he had a crush on a dentist.
Oh!
What is the story behind this dentist?
I was 17 years old and I used to visit a dentist.
My treatment was 6 months long treatment.
I told her
that this was the best 6 months of my life.
You had a toothache very frequently.
- It's fine. - You must have had a lot of dental clean-ups done.
- We rarely see romantics here. - Nice!
Welcome.
Other than Amazon, there are many self-publishing platforms globally.
Is there a unique differentiator
or are you one of them?
In 2017,
there was no other player compared to today.
- Amazon has Kindle, it is their direct publishing unit. - Yes.
They didn't sell a paperback in India, it sold e-books.
That also had royalty issues.
You have to give them your exclusive rights,
only then you'll get around 70% of the royalty.
At that time, I considered partnering with local printers.
They used to tell me the amount
for 200-500 copies.
I didn't have that kind of money.
I did some research on KDP, Amazon's publishing unit.
I knew that they operate on a print-on-demand model.
They will print the orders based on the orders they get.
So, the author doesn't have to invest.
- Wait, just to understand, that was in 2017. - Yes.
- A lot of platforms have emerged since then. - Yes.
Does this have something special or a differentiator
- that others don't possess? Tell us. - We do.
Their major focus is publishing.
Our focus was writing, not publishing.
We have a hero product, we call it The Write Angle.
W-R-I-T-E!
If you enjoy writing, you can write on our portal for 21 days.
After 21 days, whatever you've written,
we will publish it for you without asking any questions.
A couplet is a poem.
You write a line that is also a poem.
- So, people loved it. - I agree.
They started sharing it.
They started writing every day.
In 2022-2023, we had an editor and designer
who would transform your writing into a book
and send it for printing.
This year, we decided
to create a DIY platform
where you can write, and with just a click,
your book will be ready instantly.
You choose from our cover templates, click on what you like
and the cover will be instantly ready.
You submit it and we will receive the print-ready files.
Musavir and Shivangi, tell me, are people reading e-books
or hard copies? What is going on in the market?
Because I don't enjoy reading.
Currently, the sales of print books
are going down. In the next 1-2 years,
But we cater to all three. We started audiobooks recently.
...what exactly is the difference between your model
and that of Amazon
or any big e-publisher?
- Please explain. - I'll give you the exact details.
First of all, it's royalties. If you are from India
But we are partnered with leading distributors.
For example, Ingram Content Group in the US.
We've partnered with all of them.
By taking your e-book,
we are distributing it on different platforms.
- Let's take an example. - Okay.
- My mom is a writer. - Yes.
She has written a few books.
Now, she is struggling to publish them.
What will she do now?
How will you distribute?
How much will you keep
and how much will you give my mom?
Okay! Let me explain the entire process.
She has The Write Angle, the writing challenge I mentioned earlier.
If you allow me, I'll also give you the demo.
She will visit our webpage.
She has to join.
Rs. 2,999 is the one-time cost. She has to sign up.
Once that is done,
she will get access to her dashboard.
She just has to click 'Start A New Book.'
We have divided the publishing process into five steps.
First is her name, book title and subtitle.
Once she hits enter,
she goes to the next page.
She has to select her design.
Let's move on.
She will enter the book's interior.
Once she is satisfied with what she wants,
she has to click on Preview & Finish.
You can see that this is how the final draft will look.
Copyrights have been added.
There is dedication and the design she chose.
- She can see that design. - Nice.
Can't you make this assistive
where someone can help over the phone along with the tech?
There is a WhatsApp widget available here
in the bottom right.
Real-time customer support is available, if you have an issue
click on it and someone will connect you.
Now, the book is published on Amazon
- and my mom paid Rs. 2,999 to you. - Yes.
If someone orders a book,
who will print and send it?
We have print partners.
For example, there is Repro Books in India.
- We partnered with them. - This is on-demand printing,
there will be no inventory.
- We won't. - The order was placed,
and then the book was printed
- just in time. - Yes.
Who will determine the price of the book? You or my mom?
If the book is for Rs. 180,
they will take Rs. 26.
- They will keep 15%. - Yes.
- You have 85%. - Yes.
Yes!
- It includes our partner's printing costs. - How much?
If the book is 100 pages,
around Rs. 60 is the printing cost.
Deduct that and approximately Rs. 100 is left.
After that, there is one more fee
that we are paying to a distributor. Let's assume it's Repro.
They are using their logistics.
- It is not in-house. - He will deliver.
- Yes. - How much do you pay him?
- We pay close to 30%. - 30%.
At the end of the month, we will get a sales report from Repro.
We will raise an invoice to them, we will get the amount.
We send that directly...
Okay! You earned Rs. 2,999.
- Rs. 2,999. - You gave the money earned to my mom.
We gave it to your mom.
How much is the price of your highest best seller?
For fiction, Rs. 18,000.
- But for poetry, it's Rs. 12,000. - Got it.
More than publishing, the most important thing is book marketing.
- There are many publishers for popular people. - Hmm!
And it gets advertised on its own.
If an unknown person writes a book,
the most important thing for him is the marketing of the book,
- how do you do that? - Nowadays, people
buy books online more than offline.
- They buy it on Amazon. - How does it get discovered?
- How will you discover the book online? - Exactly!
This used to be a moat for the conventional publishers.
They said they would make them visible.
But that has shifted. People now discover books via social media.
You said that you sold books worth Rs. 9 crores
of 15,000 books.
So, a book priced at Rs. 200
has been bought by 30 people.
What will the author do
by selling books to 30 people?
It's not really meaningful.
The real problem is that
you should sell 10,000 copies,
that is not happening.
- You are only selling 30. - I'll share what happened with me.
When I got an offer from Amazon and Penguin,
'We will write a book on you.' Okay?
Do you know what they committed?
'We will sell 3 lakh copies of your book.'
The interest lies in marketing and reach
and not publishing.
You got an offer because you are well known.
But we are talking about
- aspiring authors and writers. - Agreed.
The acceptance rate over there is low.
- Agreed. - It is better to start from here.
But if they publish a book,
they will not go from one place to another to read their book.
The difference is, it becomes a writer's responsibility
to sell his book.
In other publishing houses,
they take responsibility for selling the books. That's the difference.
You are saying
that your differentiator is royalty. The author gets 100%.
What will I do with 100% royalty for 30 books?
On one hand, if I even get a 10% royalty
and I sell 10,000 books,
that is better for me. My book got some exposure
and a few people were able to read it.
This is the biggest challenge of your model.
Nothing is moving,
I can self-publish and distribute it to 30 friends.
- Amish wrote Shiva Trilogy, and there is Savi Sharma. - Yeah.
What they did was, they had an avenue like self-publishing,
that's why they first self-published.
They sold their books by giving them exposure.
Automatically, a big publisher discovered them
and gave them an offer.
Self-publishing helped them.
I want to know your year-on-year sales.
Because that will reveal how valuable your platform is.
We started in 2020. In the first year, our sales were 4.5 lakhs.
In the next year, we did 2.8 crores.
In the next year, we did 3.5 crores.
And in the next year, 2023-24,
we did 3.2 crores
and this year so far we have done 2.25 crores.
We are going to touch six crores.
First, we have the writing challenge, which is Rs 2,999.
We are getting 47% from there.
That's 1.05 crores.
45% was from upsells.
What is the order size for that?
After the discount, it was Rs 11,000.
- 39 lakhs. - 39 lakhs.
What are your expenses? Will you tell us?
First, is our salaries at 33%.
30% for marketing.
12% for software.
4% is for tech, to maintain the dashboard or add something new.
Another 4% is miscellaneous costs.
And 17% is EBITDA.
- Do you take salaries? - Yes.
How much salary do you take?
- 2.5 lakhs. - 2.5 lakhs each.
- 2.5 lakhs each per month? - Not bad.
Yes. - Very good.
- Superb. - Not bad at all. How is your equity split?
- 50-50. - 50-50. - All right.
You're profitable. You are taking good salaries. Your business
is a very unique business.
What would you like to do with this 90 lakhs investment?
More than the investment, it's the mentorship.
We've come so far after facing many challenges.
We've figured out everything on our own.
We will achieve our goal.
But with your help, we'll do it very fast.
We have 95 lakhs in our bank.
It's not the money.
First of all, it was great to see that
you're making money, taking 2.5 lakhs salary and are profitable.
And I was shocked to see you've made a business of six crores.
You're selling outside India too. You've identified the correct problem.
Unfortunately, I'm out of this.
Because I'm not very fond of the book business.
We won't be able to relate at all.
I'd like to give you two suggestions.
You can help any unknown publisher.
In terms of marketing and distribution.
Secondly, on your site, you can give an upsell option, on every page.
It's written, 'Make your cover, '
you can add 'Need help? Upgrade to the next plan.'
Same thing with the fonts.
'Need help? Upgrade to a better plan.'
So your revenue might go up even further.
I'm just giving you some growth tips.
Thank you so much for the feedback, Aman.
That's really valuable.
These are my two suggestions, guys.
All the best. I'll be out.
- Thank you so much. - Thank you so much.
You are not able to give the extra value
in terms of more reach for the 3,000 and 21,000 customers.
As of now, I think
that for the author it stops at
'My book is published.'
I would suggest
that you make a variable model
where your revenue to a large extent
You will also grow.
And for the author who is publishing, they get
the reach of 1,000 copies.
That is my suggestion. I don't like the fixed fee.
I think it's win-lose.
But you've built a fantastic business.
I'm out for now. Best of luck.
to enter this industry.
Because this is a big boy's game.
In 12 months
you will make 1.5 crore rupees.
Including your salaries, whatever the company is making
if you remove that, you both will take home 75 lakhs each.
That's fantastic at 24, boss.
You've come this far with it.
But there's a big storm brewing. It's called AI.
You need to figure out what that will do to your business model.
Use it
and you can make something and create a platform,
for writers
not just to publish
but you can provide them
additional revenue opportunities. A company had started in Mumbai.
They do content writing
with AI and content writers and authors.
In the last five years, it has become a 100-150 crore company.
So, think about that.
I don't think you need to raise the capital.
That's the reason I'm out. Good luck.
- You guys are great. - Thank you so much, Anupam. - Thank you so much.
It's a fantastic business.
If anyone outside had told me
- I think what you're doing is unbelievable. - Correct. Agreed.
You're a kind of investor.
I think an author or writer is also a founder who keeps trying.
And you're giving them the access.
So you're a sweet Shark
who is giving them such easy access.
If you want to increase the profile of your publishing house
and you want to give equity, because you said you don't want money...
If you want to give equity, then bring two or three famous writers
along with you.
- Good idea. - Very good idea. - Publish their books through you.
I may not give as much value,
or even all Sharks may not give as much value.
Dilute your equity there,
so that there is a benefit on both sides.
- Writers will get confidence that famous writers are made here. - Very nice.
And your partners, be it Amazon or other publishers,
will talk to you on another level.
That will be the right dilution of your equity.
That's my sincere suggestion to you. And for that reason, I'm out.
Unfortunately, I'm out of this for now.
That's the only reason.
But best of luck. I think you guys will do very well.
I've written a poem for you. Let me read it out.
'You may have published many books'
'but you did not get any offer.'
- Oh, my God. - My God. - That is mean.
- Listen further.
- Sir, this is a diss. - Listen.
'But my dears, you have got suggestions'
'tell us what you learnt from this feedback.'
- Was it good? - It was very bad. - Firstly, we are very grateful.
- Was the feedback good? - It was very good. - We were able to come here.
We had the biggest learning here.
- Fabulous, guys. - Best of luck. - Good job, guys. - Thank you so much.
What about my poem?
Remember it.
We'll put this up on
BookLeaf's website for one day.
[laughing]
- Thank you so much. - All the best.
So proud of you.
Do well.
'Doesn't matter that we did not get the deal. But the feedback they gave us'
'was more valuable than any deal.'
We came here for their mentorship.
What they gave us in a few seconds or minutes,
we're very sure it will stay with us for many years to come.
We knew that five Sharks,
five founders
who have achieved so much in their lives,
we wouldn't have got one hour of theirs any other way,
other than Shark Tank.
We are very grateful for that.
'Artist - Harinath'
'ACKO Welcome Change'
Welcome to ACKO Change Makers.
Where we really welcome change.
Just like this beautiful portrayal on our Change Maker's Wall.
With the help of innovation and connectivity
we are creating a digitally empowered
sustainable future.
Our Change Makers for today are Musavir and Shivangi.
- How are you, friends? - Very good. - Very good.
It moves ahead based on that.
The society moves in the direction that literature is moving.
- That's right. - And vice versa.
You're giving a voice to new writers,
you're giving them a platform
where they can publish their writing.
So that they can give their voice a direction.
It's genuinely a commendable job. We really appreciate your change.
I'd like to ask you a question
on behalf of our home viewers. What change can they bring
in their daily life, which can improve their reading and writing?
Okay, firstly,
you may not be able to start your reading and writing
because you feel it is too much work.
Tell yourself, 'I'll write. But I'll write just one sentence.'
'I don't have to write one page.'
'I will read just one sentence, not one page.'
The goal is to just begin.
- Okay. - Secondly, keep a book or diary and pen near your bed.
While going to bed you will feel like writing.
You will write something good or read something good.
Or you will feel sleepy and sleep on time.
- It will help you reduce your screen time. - Hmm.
Very nice advice. Thank you so much for the answer.
The change you are bringing is much needed,
just like Acko is bringing much-needed change
in the insurance space with its revolutionary offerings.
Now you can save yourself from the countless calls
while buying car insurance
and avoid the confusion regarding the price and policy coverage.
Get car insurance directly from Acko.
It's easy, transparent, hassle-free and the premium is also good.
To celebrate your time at Shark Tank,
we'd like to give you a gift from Shark Tank and Acko.
[joyful music]
- Here. - Thank you.
[sound of the water tank]
It is said that technology is considered most impactful
when it can bring a big change in human life.
Proxgy brings you made-in-India patent technology.
You can book your live assist and view it anywhere.
This is a multi-payment gateway audio box.
This will enable video commerce and it is also on as a sound box.
We are asking for 35 lakh rupees for 1% of the equity.
Our today's founders
empowered industrial workers through IoT and smart variables,
while simultaneously saving many businesses from revenue loss.
Ashneer and I, both the Sharks, will come to help you.
- We are coming for 10%. - It's a deal!
- Very nice! - Thank you so much.
Thank you so much.
Hello and welcome to Adani presents Beyond The Tank.
Adani celebrates the 'We show it by doing it' spirit of every Indian.
In this special segment, we honour founders who have turned
their dreams into reality with their hustle.
We have with us the founder of Proxgy, Mr Pulkit Ahuja.
- How are you, sir? - I'm good. How are you?
I'm great. You came here in Season 1.
We came here three years ago in Season 1.
And today too, when we were coming in the morning,
nostalgia was kicking in.
All the events of that time have now become milestones.
I found it very interesting.
Look, everyone knows what happened in season 2.
That it's a huge show and it's a big opportunity.
But you came when no one knew,
so what were your expectations?
- We were the guinea pigs. - You surely were!
We expected a particular valuation and thought we would get that.
When we went to the Tank, they showed us
the mirror that it should be like that and not like this.
If you look at it,
whatever happened, it made us what we are today.
When we were watching the pitch,
your co-founder was also with you.
- Inder. - Inder, yeah.
- So he is not here? - Inder took an exit from Proxgy
last year and he made a lot of money.
So he has now started his own company
which is called Factacy in the AI business.
- We raised one crore in Shark Tank... - Yeah.
And within one and a half years, Inder exited with 4 crores.
And I also became one of the investors in his company.
- Oh! - And the company is also doing good.
When you went from the Shark Tank,
we saw you got two sharks with your pitch.
But later, one of them did not make it to the deal, right?
Peyush and Ashneer offered to invest in the Tank.
We took the investment from Peyush, and not from Ashneer.
What changes do you think Peyush's arrival has brought to your company?
Both maturity and direction have come with him.
Because he has built a company from zero
and we are on that journey.
So you get to learn a lot from him.
He often advises in advance on what kind of deal you should make.
We get a lot of benefits from that experience.
You said something very interesting.
For example, you want to make a decision
but the sharks invested with you are saying no.
So who takes the final call in such a case?
In such a situation, what our ancestors said seems
to be correct, that listen to everyone and do what you want.
Oh, is that so? Put it on the ancestors.
You came here last time as an inventor.
Where did you learn to talk in such a way?
Aman said you need a Rocket Singh.
I think you need a salesman.
A salesman like Rocket Singh.
- Oh! - So while searching for that Rocket Singh,
I've also learnt to talk like this.
So did you find your Rocket Singh?
- Actually, we have 3-4 of them. - Oh!
After searching a lot.
I think if we had not come here,
we would have been looking for a Rocket Singh,
so it would have been very difficult to do this.
It's pretty easy now.
I was looking at your products. This is quite different from that.
There is a lot of improvement in design
and technology has become very advanced.
Used cases based on certification
which we wanted to be accepted in the market.
So you can see those differences in this.
There are a lot of changes to the products. That's a different story.
Because we had to completely pivot from B2C to B2B.
Okay, this is your favourite?
If any worker is working anywhere and even if he is working alone,
it's the smartest product for his safety, security and connectivity.
- And where do you make them? - This is all made in India.
Very nice, man!
Another interesting thing is that when you came to pitch,
you had already got six patents and
also mentioned many pending ones.
We have around 70 patents,
out of which, 40 are granted and the rest are pending.
You went out and met the President there.
How do they view an Indian inventor?
The experience in South America was great
and as far as the US is concerned, let me tell you an instance.
We had lunch with a CEO with billion-dollar funds
in Charlotte, North Carolina.
When we showed them all this there,
their team was super impressed.
They asked how much time and money was spent on making all this.
So we told them it took 3 years
and cost around a million dollars.
- 8-10 crore rupees. - Okay.
So while they were having lunch,
two men from their team stood up and said 'What!'
'Are you serious?'
You did all this in one million dollars
whereas it takes at least 50-60 million dollars to do all this here.
And what has been your journey
in terms of growth after Shark Tank in numbers,
if you want to share that?
Basically, if Rs 1 crore was at 10%,
then the valuation of the entire company
became Rs 10 crore at 100%.
This was three years ago.
We have done four funding rounds in three years.
And in the recent round we conducted,
- our valuation is now 400 crores. - Okay!
It has increased 40 times in three years.
Several well-known investors have come in,
like Nikhil Kamath,
Suniel Shetty sir, - Okay.
Mr Ajinkya Rahane, the cricketer.
There's also a fund from the Rajasthan Royals team,
in which he owns some stake, and that fund has come.
Within two months
of Shark Tank airing, we received 40 calls from big companies,
including government bodies, asking us to come,
explain how it works, and customise it for their use.
It's a proud moment for Shark Tank as well
that you came on our platform
and are now working with the government.
You are winning such prestigious awards.
It is inspiring to me for sure, but for different
businesses, when you sometimes face doubts or dilemmas
about whether you are doing the right thing,
this is also a learning.
If you take feedback and adjust
according to the market,
then if you believe in your product,
you can sell.
You are doing great work. Thank you so much
- for your time today. - Thank you, lovely talking to you.
And I hope that next time, your 40X turns into 400X.
Pulkit, you didn't just take your business valuation to 40X,
but also saved businesses crores of rupees
while
improving safety, productivity, and connectivity.
You have truly made it happen.
And to honour this achievement, we want to give you a special place
in our Adani Hall of Achievements.
How does it feel to relive these moments?
It's amazing. I'm feeling very nostalgic.
Coming back to where it all started.
It feels great to be here. We hope you keep coming back.
To appreciate your 'we make it happen' attitude,
a special gesture from Adani.
Thank you so much.
- Hi. - How are you?
- Great. How are you? - Oh, god!
You've become successful. Since you made your deal here,
everybody was criticising me.
But what's happening now?
Lots of progress.
We have moved far beyond shopping
- and are now helping industries. - And you came in when...
I don't even remember.
- You have raised a new round now, right? - Yes.
- A big round. - I'm doing Series A, 400 crores.
Four hundred crores?
And what was your valuation when you came to Shark Tank?
- Ten crores. - 10 crores?
Because you need to focus.
But you are doing well.
- Good to see you, man. - Thank you.
Good to see you.
[Shark Tank theme]
Welcome to Ask the Shark. Today, we have a Shark with us
whose heart is so big
that even it needs a PIN code. With us is
the co-founder and CMO of boAt Lifestyle, Mr Aman Gupta.
Good to see you again.
Are you ready for the question?
It's a bit fiery today, alright?
Because these different perspectives in life are important.
If you look at it,
in the first season, there was a deal,
which was Let's Try.
The other Sharks didn't invest, but I did.
And that turned 12 lakhs into 12 crores.
When I was investing, others thought it wasn't investable,
but I saw something different, took a chance, and made money.
So, there are many deals where you might feel they are charitable,
but someone else sees a business opportunity.
Eventually, it is all about
your belief.
People didn't believe in our stories.
They didn't think we would grow big.
Touchwood, we have done well so far. And those who bet on us have
received great returns. So,
as I always say, there is nothing called a right or wrong investment.
It is your own judgement.
When you grow up and have money,
[laughs]
- Will you get this deleted too? - Alright, fine.