1 00:00:23,280 --> 00:00:26,200 [theme music playing] 2 00:00:36,960 --> 00:00:38,720 [theme music playing] 3 00:00:47,440 --> 00:00:49,800 [theme music playing] 4 00:01:09,440 --> 00:01:13,640 Sharks, challenging age-old traditional thinking, 5 00:01:13,880 --> 00:01:15,760 whether something is allowed or not, 6 00:01:15,840 --> 00:01:17,760 whether resources are available or not, 7 00:01:17,840 --> 00:01:21,120 doing what needs to be done is my habit. 8 00:01:26,560 --> 00:01:28,760 I don't follow a playbook. 9 00:01:28,920 --> 00:01:31,080 And I make my own rules. 10 00:01:31,240 --> 00:01:34,120 Today, in 60 seconds, I'll tell you 11 00:01:34,240 --> 00:01:36,560 why I am the right bet for you. 12 00:01:36,640 --> 00:01:39,680 Once the timer is up, I'll leave the floor. 13 00:01:40,040 --> 00:01:42,640 And the time starts now. 14 00:01:43,120 --> 00:01:45,400 In a small city called Dhamtari, 15 00:01:45,480 --> 00:01:49,000 where a woman's entire identity is often tied to marriage, 16 00:01:49,080 --> 00:01:51,560 I established a manufacturing unit there. 17 00:01:51,640 --> 00:01:53,480 People become engineer first, 18 00:01:53,560 --> 00:01:56,320 but I became a CEO before becoming an engineer. 19 00:01:56,440 --> 00:02:00,760 People focus on problems and I look for solutions. 20 00:02:00,880 --> 00:02:02,920 That's why, in a category like food, 21 00:02:03,000 --> 00:02:04,920 where youngsters aren't innovating 22 00:02:05,000 --> 00:02:08,240 because it doesn't get the same respect or valuation as tech. 23 00:02:08,320 --> 00:02:10,320 Traditional manufacturers just focus on 24 00:02:10,400 --> 00:02:12,040 making what's already selling. 25 00:02:12,120 --> 00:02:15,000 If your refrigerator is filling up with chemicals, then let it fill. 26 00:02:22,920 --> 00:02:26,280 with good ingredients, good taste, and it's made of jaggery. 27 00:02:31,760 --> 00:02:34,560 ingredients matter and choose better. 28 00:02:34,640 --> 00:02:38,320 For this, my ask is Rs. 50 lakhs for 5% equity. 29 00:02:41,440 --> 00:02:43,160 - Oh my God! - Impressive. 30 00:02:43,240 --> 00:02:46,200 - Isha, breathless. - Amazing! 31 00:02:46,320 --> 00:02:48,240 - Are you from Dhamtari? - Yes. 32 00:02:56,360 --> 00:03:01,200 Sridhar Vembu built ZOHO from a village in Tamil Nadu. 33 00:03:01,280 --> 00:03:04,080 Chandubhai Virani founded Balaji Wafers 34 00:03:04,160 --> 00:03:06,800 from a small village near Rajkot. 35 00:03:06,880 --> 00:03:11,000 Shashank from DeHaat is from Chapra, Bihar. 36 00:03:11,080 --> 00:03:16,040 So many people are making big companies from small places. 37 00:03:16,240 --> 00:03:19,560 So, I really hope you join this list. 38 00:03:19,640 --> 00:03:23,040 - Sure. - For now, let's hear more about your small city 39 00:03:23,120 --> 00:03:26,000 and what inspired you to become an entrepreneur. 40 00:03:26,080 --> 00:03:27,840 Tell us where Dhamtari is located first. 41 00:03:27,920 --> 00:03:31,920 Dhamtari is a small place in Chhattisgarh near Raipur. 42 00:03:32,000 --> 00:03:35,240 I was born and raised there till third grade. 43 00:03:35,400 --> 00:03:38,240 I was always good with my studies. 44 00:03:38,440 --> 00:03:42,080 My parents believed I should have better opportunities, 45 00:03:42,240 --> 00:03:43,560 so we moved to Raipur, 46 00:03:44,040 --> 00:03:46,560 where I completed my 10th grade. 47 00:03:46,640 --> 00:03:49,440 After that, I went to Kota for IIT preparations 48 00:03:49,520 --> 00:03:51,880 and later to Patiala for college. 49 00:03:51,960 --> 00:03:55,520 But all our resources were in Dhamtari. 50 00:03:55,640 --> 00:03:58,360 I didn't wish to increase overhead costs. 51 00:03:58,440 --> 00:04:00,680 So, I set up my unit in Dhamtari 52 00:04:00,840 --> 00:04:02,560 and I operate my office from Raipur. 53 00:04:09,480 --> 00:04:11,440 - Without a break! - And very rare. 54 00:04:11,520 --> 00:04:14,400 We also have an investment in Raipur. 55 00:04:19,720 --> 00:04:22,720 - I reach out to them. - That's good. 56 00:04:22,800 --> 00:04:25,040 When I reached out to them, 57 00:04:25,160 --> 00:04:27,680 they said we will meet. 58 00:04:27,760 --> 00:04:29,200 That is great! 59 00:04:29,280 --> 00:04:31,880 They help you, I help them, indirectly, I am helping you. 60 00:04:31,960 --> 00:04:33,320 Oh my! 61 00:04:33,400 --> 00:04:35,800 - You can directly help me too. - Okay! 62 00:04:36,080 --> 00:04:37,080 Show us your product. 63 00:04:37,160 --> 00:04:38,480 Sure, sir. You can taste them too. 64 00:04:38,520 --> 00:04:42,080 Yes! I would like to compare it with Veeba's sauce 65 00:04:42,360 --> 00:04:43,600 and see which one is better. 66 00:04:43,720 --> 00:04:46,160 What was that line in Season 1? 67 00:04:46,240 --> 00:04:47,960 Every industry... 68 00:04:48,040 --> 00:04:49,320 Dominant force! 69 00:04:49,920 --> 00:04:51,240 I am not a don. 70 00:04:51,360 --> 00:04:53,960 You said it, but you didn't do it. However, you did say it. 71 00:04:54,880 --> 00:04:57,880 I am telling you, Isha, I am there for you no matter what. 72 00:04:57,960 --> 00:05:00,840 But you... Hold on, Isha. Let's clarify. 73 00:05:01,000 --> 00:05:03,520 You are there for Isha, but do you agree 74 00:05:03,600 --> 00:05:05,360 that you are the dominant force in this industry? 75 00:05:05,400 --> 00:05:06,800 - No, I don't believe that. - What? 76 00:05:06,880 --> 00:05:10,480 - I accept that I am a major player in this industry. - Okay. 77 00:05:10,560 --> 00:05:12,120 As a leading player, it is my responsibility 78 00:05:12,160 --> 00:05:13,160 to help other players. 79 00:05:13,240 --> 00:05:16,440 - I think... - Sir, we will make Repeat Gud Veeba of healthy sauces. 80 00:05:16,520 --> 00:05:17,640 - Wow! - Whoa! 81 00:05:17,720 --> 00:05:19,280 - But I... - Don't they sell healthy sauces? 82 00:05:19,280 --> 00:05:21,480 We sell healthy sauces too. Stop it now. 83 00:05:21,600 --> 00:05:22,880 Healthier sauces. 84 00:05:23,000 --> 00:05:24,360 But I'd like to tell you one thing. 85 00:05:24,400 --> 00:05:25,440 I'll help you no matter what. 86 00:05:25,440 --> 00:05:27,040 I will help! Hey! 87 00:05:27,520 --> 00:05:29,560 - Any company that makes sauces... - I'll help! 88 00:05:29,640 --> 00:05:31,520 I consider them a competition. 89 00:05:31,640 --> 00:05:34,920 - What are you saying? Will you help or compete? - I'll help. 90 00:05:35,320 --> 00:05:37,280 - Oh God! - Thank you! Are these your sauces? 91 00:05:37,360 --> 00:05:38,400 These are all my sauces. 92 00:05:38,520 --> 00:05:39,880 - Interesting. - Thank you! 93 00:05:41,040 --> 00:05:42,800 [music playing] 94 00:05:46,320 --> 00:05:48,680 Isha, Tandoori mayo is very good. 95 00:05:48,800 --> 00:05:50,520 - Thank you, Namita! - Tandoori nights! 96 00:05:50,600 --> 00:05:51,680 Hmm! 97 00:05:53,720 --> 00:05:56,440 This Tandoori Mayo is killing it. 98 00:05:56,520 --> 00:06:00,080 - Thank you! - There are no refined sugar, 99 00:06:24,040 --> 00:06:27,760 Then why did you think you could price it so much higher than Veeba 100 00:06:27,840 --> 00:06:32,040 and still attract customers? What's the logic behind this? 101 00:06:32,440 --> 00:06:35,320 - Ma'am, Veeba is not my competitor. - Huh? 102 00:06:35,400 --> 00:06:39,000 If you compare Veeba's ingredients with my sauces, 103 00:06:39,080 --> 00:06:41,520 you might find one or two ingredients that are similar. 104 00:06:41,960 --> 00:06:45,520 We primarily make our mayo with cashew milk. 105 00:07:03,760 --> 00:07:07,360 but let's assume that your child liked the mayo. 106 00:07:07,440 --> 00:07:09,920 They will start having it every day with flatbread 107 00:07:10,000 --> 00:07:11,640 or bread. 108 00:07:11,720 --> 00:07:14,840 In fact, I didn't think of building this company out of the blue 109 00:07:14,920 --> 00:07:16,640 just to make a healthy mayo. 110 00:07:16,720 --> 00:07:20,960 When I went to Kota, the food used to be spicy and oily. 111 00:07:21,040 --> 00:07:23,880 What I used to do was stock sauces in my room. 112 00:07:23,960 --> 00:07:26,000 Spread sauces on flatbreads and bread 113 00:07:26,080 --> 00:07:27,680 and eat them. 114 00:07:27,760 --> 00:07:29,960 - Quick and convenient. - I was addicted to doing that. 115 00:07:30,040 --> 00:07:32,920 When I returned home, I had gained weight 116 00:07:33,000 --> 00:07:35,600 - and I landed in the hospital. - Oh my God! 117 00:07:35,680 --> 00:07:39,800 I had kidney stones and throat burns beyond imagination. 118 00:07:39,880 --> 00:07:41,760 - At this age? - When I was 18, sir. 119 00:07:41,880 --> 00:07:43,640 Oh my God! Is that why you started this? 120 00:07:43,720 --> 00:07:46,560 Yes! When my mom told me 121 00:07:46,680 --> 00:07:48,720 that this was happening because of lifestyle changes. 122 00:07:48,760 --> 00:07:51,480 I thought of looking for better alternatives. 123 00:07:51,560 --> 00:07:53,840 But I realised there was nothing in the market. 124 00:07:53,920 --> 00:07:56,160 So, I started making them for myself. 125 00:07:56,240 --> 00:07:58,760 During COVID, I got time to reflect and realised 126 00:07:58,840 --> 00:08:01,320 that this wasn't just my problem or my family's, 127 00:08:01,400 --> 00:08:03,880 it is a problem faced by every parent and every child. 128 00:08:03,960 --> 00:08:06,440 So, I started this for children like us. 129 00:08:07,680 --> 00:08:09,920 I read your list of ingredients. 130 00:08:10,000 --> 00:08:12,800 Generally, people use minimal amounts 131 00:08:12,880 --> 00:08:15,280 but still call it cashew-based mayonnaise. 132 00:08:19,400 --> 00:08:20,960 ingredients that are good for you. 133 00:08:21,040 --> 00:08:22,760 Thank you, sir. It means a lot. 134 00:08:22,880 --> 00:08:26,560 Isha, how is the shelf life six months 135 00:08:36,800 --> 00:08:40,120 Sir, that is our packaging and processing technology. 136 00:08:40,200 --> 00:08:42,200 It has ingredients like... 137 00:08:42,280 --> 00:08:44,280 Take pickles, for example. 138 00:08:44,400 --> 00:08:46,560 What ingredients does it have that allows it 139 00:08:46,640 --> 00:08:48,720 to be consumed within a month after opening if refrigerated? 140 00:08:48,720 --> 00:08:50,320 It has natural vinegar... 141 00:08:50,400 --> 00:08:52,600 - Jaggery and vinegar. - We add jaggery. 142 00:08:52,680 --> 00:08:56,120 It has Himalayan pink salt, natural spices. 143 00:08:56,200 --> 00:08:57,320 It has garlic, 144 00:08:57,400 --> 00:08:59,800 and if done properly, it acts as a preservative. 145 00:08:59,880 --> 00:09:02,080 Have you tested 146 00:09:02,200 --> 00:09:05,200 if the shelf life is one month after opening? 147 00:09:05,280 --> 00:09:06,400 Yes! 148 00:09:06,960 --> 00:09:09,280 The standard ketchup that is sold, 149 00:09:09,360 --> 00:09:11,560 what is the shelf life before opening? 150 00:09:11,680 --> 00:09:14,560 - It's 12 to 24 months. - 12 to 24 months. 151 00:09:14,680 --> 00:09:16,920 Meaning it should pass through trade channels 152 00:09:17,080 --> 00:09:19,680 without being returned or getting spoiled, 153 00:09:20,040 --> 00:09:22,920 that must be a major reason for keeping it that long. 154 00:09:23,040 --> 00:09:24,600 Is that possible in six months, 155 00:09:24,720 --> 00:09:26,680 or will a lot of inventory need to be written off? 156 00:09:32,000 --> 00:09:33,880 Sir, I don't think so, because 157 00:09:34,000 --> 00:09:36,000 consumer trend is changing. 158 00:09:36,160 --> 00:09:40,040 - People... - You didn't get it. Let me ask Viraj. 159 00:09:40,560 --> 00:09:43,560 You are right. 6 months is low for GT. 160 00:09:43,680 --> 00:09:46,000 If the movement is fast, six months is fine. 161 00:09:46,080 --> 00:09:49,040 But if the movement is slow, six months is an issue. 162 00:09:49,680 --> 00:09:52,920 That was my question. Your product's shelf life is six months. 163 00:09:53,040 --> 00:09:55,040 Can you extend it to one year? 164 00:09:55,160 --> 00:09:58,440 I am not sure if that is possible. 165 00:09:58,560 --> 00:09:59,560 Exactly! 166 00:09:59,960 --> 00:10:03,880 One thing! Second thing, if we talk about consumer trust. 167 00:10:04,040 --> 00:10:05,560 If I mention 12 months... 168 00:10:05,640 --> 00:10:09,080 One of my mayo formulations had a shelf life of nine months. 169 00:10:09,200 --> 00:10:11,440 I tested it at an exhibition, 170 00:10:11,520 --> 00:10:14,440 and someone asked, 'Is nine months your shelf life?' 171 00:10:14,560 --> 00:10:17,080 I said, 'Yes, we have lab certificate, you can check.' 172 00:10:17,200 --> 00:10:18,080 The customer replied, 173 00:10:18,200 --> 00:10:20,880 'In that case, I don't believe it is free of preservatives.' 174 00:10:21,320 --> 00:10:23,720 Even if I state that it has a shelf life of over six months, 175 00:10:23,840 --> 00:10:24,840 even if that's true, 176 00:10:24,880 --> 00:10:26,680 - they will think something's wrong. - They will doubt it's fresh. 177 00:10:26,720 --> 00:10:28,280 - Right! Something is wrong. - Yes. 178 00:10:28,400 --> 00:10:30,240 Good insight! 179 00:10:31,120 --> 00:10:33,760 In food, you need to be careful 180 00:10:33,840 --> 00:10:36,440 because if we add jaggery to something, 181 00:10:39,840 --> 00:10:41,760 you can't claim it's sugar-free. 182 00:10:42,120 --> 00:10:44,400 Secondly, there's something called GRAS items, 183 00:10:48,360 --> 00:10:53,360 India has the lowest global limits. 184 00:10:54,200 --> 00:10:56,960 Indian laws are beautifully designed. 185 00:10:57,040 --> 00:10:58,520 - And the third thing is... - How nice. 186 00:10:58,560 --> 00:10:59,800 - Very nice to know. - I didn't know this. 187 00:10:59,800 --> 00:11:02,320 The third thing is, as Indians we should be happy 188 00:11:02,440 --> 00:11:06,480 because India's preservative limits is one of the lowest globally. 189 00:11:06,560 --> 00:11:07,720 Wow! 190 00:11:07,880 --> 00:11:11,320 - May I participate in your conversation? - Of course. 191 00:11:11,400 --> 00:11:13,080 You mentioned 192 00:11:13,160 --> 00:11:15,960 that the food standards in India 193 00:11:16,040 --> 00:11:18,640 - are much better. - Okay! 194 00:11:18,720 --> 00:11:21,400 But food safety is still a question in India. 195 00:11:22,320 --> 00:11:24,400 If you go outside to have momo, 196 00:11:24,520 --> 00:11:27,360 he will serve mayo. Do you know how that was made? 197 00:11:27,440 --> 00:11:28,320 Fantastic point. 198 00:11:28,440 --> 00:11:30,400 The laws are strong, 199 00:11:30,480 --> 00:11:33,480 but are laws being implemented that strongly? 200 00:11:33,560 --> 00:11:37,960 You are right. I am so proud of you, at 23, you understood the problem. 201 00:11:38,120 --> 00:11:40,200 But you need to bifurcate 202 00:11:40,280 --> 00:11:43,480 that laws are good, but there is a gap in implementation. 203 00:11:43,640 --> 00:11:45,440 - Sir, implement... - Tell me something, Isha. 204 00:11:45,440 --> 00:11:48,520 You are talking about unorganised street food. 205 00:11:48,720 --> 00:11:51,360 But you are not competing with them. 206 00:11:57,480 --> 00:12:00,400 So, you should compare with them. 207 00:12:01,000 --> 00:12:02,720 Suppose the reputed food companies 208 00:12:02,800 --> 00:12:05,120 add 0.1 PPM. 209 00:12:12,880 --> 00:12:16,200 Then the sauce you are having with the bread has 0.1 PPM. 210 00:12:16,640 --> 00:12:20,080 Then we assume that we've had home cooked meal since morning, right? 211 00:12:20,160 --> 00:12:22,520 We should order food now. 212 00:12:22,600 --> 00:12:25,320 At the end of the day, we accumulate 213 00:12:25,440 --> 00:12:26,680 a big amount. 214 00:12:26,760 --> 00:12:29,400 My point is that you are eating outside food. 215 00:12:29,480 --> 00:12:31,440 We have no control over that. 216 00:12:32,440 --> 00:12:34,720 These things have entered your house. 217 00:12:34,800 --> 00:12:37,120 - You can take it out from your refrigerator. - Fair point. 218 00:12:37,320 --> 00:12:40,840 - Good answer. - There are options, we are creating them. 219 00:12:42,080 --> 00:12:43,080 Good answer, Isha. 220 00:12:46,480 --> 00:12:47,360 What does that mean? 221 00:12:47,480 --> 00:12:49,400 My startup is small. 222 00:12:49,480 --> 00:12:52,040 It's in such an early stage, that I am handling everything. 223 00:12:52,200 --> 00:12:55,080 - How many people are in your team? - My major team is remote. 224 00:12:55,120 --> 00:12:58,080 Currently, I haven't hired anyone. 225 00:12:58,200 --> 00:13:00,120 - Me, myself and I! - What are you saying? 226 00:13:00,240 --> 00:13:02,560 - Yes. - These formulations 227 00:13:02,880 --> 00:13:03,680 and packaging. 228 00:13:03,760 --> 00:13:06,200 I've taken help from freelancers when required. 229 00:13:06,280 --> 00:13:08,760 For packaging, I would sit with the graphic designer 230 00:13:08,840 --> 00:13:09,760 and get it designed. 231 00:13:09,840 --> 00:13:12,360 Where standardization is needed for formulations, 232 00:13:12,440 --> 00:13:14,040 I would consult a food technologist. 233 00:13:14,280 --> 00:13:15,920 - Oh! - I have not hired anyone. 234 00:13:16,000 --> 00:13:19,200 Are you currently selling only through the website? 235 00:13:19,320 --> 00:13:21,840 From my website, repeatgud.com and amazon. 236 00:13:28,960 --> 00:13:30,720 When did you launch your product in the market? 237 00:13:30,720 --> 00:13:32,760 Full-fledged on August 2024. 238 00:13:45,600 --> 00:13:46,800 It hasn't, right? 239 00:13:46,880 --> 00:13:50,440 - Actually, you've mentioned FSSAI here. - Yes. 240 00:13:50,520 --> 00:13:52,160 FSSAI has guidelines. 241 00:13:52,240 --> 00:13:55,200 - Follow size, font and colour of FSSAI. - It should be the same. 242 00:13:55,280 --> 00:13:58,480 Please understand, that every food manufacturer has made this mistake. 243 00:13:58,600 --> 00:14:02,200 When you make a new product, send it to us, and we'll correct the label. 244 00:14:03,040 --> 00:14:03,920 Shall we get to the sales? 245 00:14:04,000 --> 00:14:05,200 Tell us your revenues. 246 00:14:05,280 --> 00:14:08,280 - Last month's sales were Rs. 1.4 lakhs. - Okay. 247 00:14:08,400 --> 00:14:11,000 In October, our revenue was Rs. 47,000, 248 00:14:11,560 --> 00:14:14,040 followed by Rs. 53,000 in September 249 00:14:14,120 --> 00:14:16,040 and Rs. 22,000 in August. 250 00:14:16,760 --> 00:14:18,360 How much does it cost you? 251 00:14:18,440 --> 00:14:20,920 Our COGS is 25%. 252 00:14:21,440 --> 00:14:22,720 Channel margin and shipping costs, 253 00:14:22,720 --> 00:14:25,280 due to packaging in glass bottles is around 40%. 254 00:14:25,360 --> 00:14:27,440 40% channel margin! Okay. 255 00:14:27,840 --> 00:14:30,800 Then ad spend is 42%. 256 00:14:30,880 --> 00:14:33,800 The salaries are going to remote teams, that is 56%. 257 00:14:33,920 --> 00:14:35,320 - 56% - 56%? 258 00:14:35,760 --> 00:14:37,680 How much are you burning in a month? 259 00:14:37,760 --> 00:14:38,960 Minus 75%. 260 00:14:39,040 --> 00:14:40,040 Who is funding the loss? 261 00:14:40,120 --> 00:14:42,200 I've invested Rs. 28 lakhs so far 262 00:14:42,320 --> 00:14:44,480 and secured a grant of Rs. 33 lakhs, 263 00:14:49,600 --> 00:14:53,680 It's also debt from the bank and the rest dad gave. 264 00:14:53,760 --> 00:14:54,960 Your dad has invested. 265 00:14:55,040 --> 00:14:56,880 Dad has invested Rs. 20 lakhs. 266 00:14:57,000 --> 00:14:58,000 What does your dad do? 267 00:14:58,040 --> 00:14:59,520 My dad is a businessman. 268 00:14:59,720 --> 00:15:01,720 - What business? - Real estate. 269 00:15:01,800 --> 00:15:03,960 Okay! If this funding comes through, 270 00:15:04,040 --> 00:15:06,520 will you return Rs. 20 lakhs to your dad or not? 271 00:15:06,640 --> 00:15:08,200 Dad is already a shareholder. 272 00:15:08,320 --> 00:15:09,240 I'll return it in the form of shares. 273 00:15:09,320 --> 00:15:10,880 Okay, got it! Make sense. 274 00:15:11,920 --> 00:15:14,640 How will you scale? What is your vision for this company? 275 00:15:14,720 --> 00:15:16,000 I want to make Repeat Gud 276 00:15:16,120 --> 00:15:18,560 a household brand in the healthy food segment. 277 00:15:18,720 --> 00:15:20,040 As a founder, I am coming out. 278 00:15:20,160 --> 00:15:22,040 I took a public challenge on Instagram 279 00:15:22,200 --> 00:15:25,160 - to take my healthy food brand to Rs. 1 crore this year. - Okay! 280 00:15:25,240 --> 00:15:28,520 My goal is simple, ingredients matter and choose better. 281 00:15:28,720 --> 00:15:31,160 Okay, got it. How will you do this? 282 00:15:31,680 --> 00:15:35,120 First, we'll focus on D2C, 283 00:15:35,880 --> 00:15:38,880 then expand into other categories beyond sauces. 284 00:15:39,000 --> 00:15:41,240 We already have products in the pipeline, 285 00:15:41,320 --> 00:15:42,360 like a chocolate spread. 286 00:15:42,440 --> 00:15:44,920 That's fine. Making products won't turn you into a household name. 287 00:15:44,920 --> 00:15:46,320 How will you become a large brand? 288 00:15:47,280 --> 00:15:48,720 I will also market it, right? 289 00:15:48,800 --> 00:15:51,720 - I will be present in e-commerce. - Got it. 290 00:15:51,800 --> 00:15:54,560 Quick commerce! Then we'll start targetting premium offline stores. 291 00:15:54,640 --> 00:15:56,120 I am already doing content. 292 00:15:56,240 --> 00:15:58,080 Then I will do ad spend accordingly. 293 00:15:58,160 --> 00:16:00,800 Isha, do you think the price is too high, 294 00:16:01,280 --> 00:16:04,280 and could that pose a challenge for widespread adoption? 295 00:16:04,360 --> 00:16:07,680 It's possible that we will reduce the cost in the future 296 00:16:07,760 --> 00:16:09,320 as we scale. 297 00:16:09,400 --> 00:16:12,480 If we look at competitors in similar category, 298 00:16:12,600 --> 00:16:14,520 their price point is similar. 299 00:16:14,600 --> 00:16:16,400 Who is our competitor? 300 00:16:17,360 --> 00:16:19,880 Troovy is one of our direct competitors, 301 00:16:19,960 --> 00:16:21,720 but we differentiate ourselves significantly from them. 302 00:16:21,720 --> 00:16:24,920 Our mayo is one of a kind in India. 303 00:16:25,800 --> 00:16:28,720 You build a company at the age of 23. That's incredible. 304 00:16:28,840 --> 00:16:31,320 It is a good start. The product tastes good. 305 00:16:31,400 --> 00:16:32,720 I think you will do very well. 306 00:16:33,000 --> 00:16:34,520 I have two issues. 307 00:16:35,200 --> 00:16:37,320 First, there are legal issues. 308 00:16:37,440 --> 00:16:39,040 When I read FSSAI. 309 00:16:39,840 --> 00:16:42,800 And that it has no sugar, but there is sugar. 310 00:16:42,920 --> 00:16:46,280 It has jaggery, but you mentioned 'no sugar'. 311 00:16:47,200 --> 00:16:50,320 Second, I want to suggest 312 00:16:50,400 --> 00:16:54,320 that you form a team when you have money to help you. 313 00:16:55,680 --> 00:16:58,120 Unfortunately, I am out now. 314 00:17:00,400 --> 00:17:02,320 The good thing is that he identified 315 00:17:02,400 --> 00:17:06,680 the right issues and they can be resolved soon. 316 00:17:06,920 --> 00:17:10,480 I think you are too early for investment, but you are on the right track. 317 00:17:10,560 --> 00:17:14,000 I will give you this. This is my number and a message. 318 00:17:14,080 --> 00:17:16,640 - Please get in touch with me, I'll help you. - Sure. 319 00:17:16,720 --> 00:17:18,680 I don't think you're ready for investment. 320 00:17:18,760 --> 00:17:22,760 And we will sit together and solve these problems in one day. 321 00:17:23,160 --> 00:17:25,880 You focus on work and taste of the product. 322 00:17:26,000 --> 00:17:29,440 Maybe you can label this as Cashew Mayonnaise 323 00:17:29,520 --> 00:17:31,480 because it might not be widely accepted just as 'Mayonnaise'. 324 00:17:31,480 --> 00:17:35,040 You could sell more by highlighting the cashew-based mayonnaise. 325 00:17:35,600 --> 00:17:37,840 I am out at this moment. I am sorry. 326 00:17:37,960 --> 00:17:40,680 Sure, sir. I'll take the feedback. 327 00:17:40,800 --> 00:17:44,640 Your intention and attitude is nice, but you are very new. 328 00:17:46,040 --> 00:17:48,200 Work with Viraj or other mentors 329 00:17:48,280 --> 00:17:50,240 to bring more depth, 330 00:17:51,000 --> 00:17:53,280 understanding, and scale into this. 331 00:17:53,360 --> 00:17:55,200 Then you will be investor-ready. 332 00:17:55,960 --> 00:17:57,520 I think at this point, 333 00:17:57,600 --> 00:18:01,880 you shouldn't take investors money, because you are too early. 334 00:18:02,160 --> 00:18:04,400 And for that reason, I am out. But love your attitude. 335 00:18:06,880 --> 00:18:08,080 Isha, you are awesome. 336 00:18:08,160 --> 00:18:09,560 - Absolutely fantastic! - Thank you! 337 00:18:09,680 --> 00:18:12,680 You are an absolute killer founder. 338 00:18:12,880 --> 00:18:16,360 - Thank you! - At 23, the knowledge you have gained 339 00:18:16,800 --> 00:18:18,200 and your execution, 340 00:18:18,280 --> 00:18:20,920 what you have accomplished in just four months, 341 00:18:21,200 --> 00:18:23,080 - is incredible. - Thank you. 342 00:18:23,240 --> 00:18:25,280 This is the classic situation. 343 00:18:25,480 --> 00:18:27,800 The heart is saying yes, but the mind is saying no. 344 00:18:29,400 --> 00:18:32,800 With sales of around Rs. 1.5 lakhs, it's difficult to determine 345 00:18:33,240 --> 00:18:35,240 the unit economics, 346 00:18:35,320 --> 00:18:37,760 whether consumers will accept the product at this price point 347 00:18:37,840 --> 00:18:39,760 or if a price adjustment will be necessary. 348 00:18:39,880 --> 00:18:41,560 Many unanswered questions. 349 00:18:42,880 --> 00:18:44,600 It is too early for the investment 350 00:18:44,720 --> 00:18:46,200 and ripe for guidance. 351 00:18:46,320 --> 00:18:47,640 You will get guidance. 352 00:18:47,800 --> 00:18:49,000 I am out today. 353 00:18:49,080 --> 00:18:50,800 But wish you the very best. 354 00:18:50,960 --> 00:18:53,680 You will be very successful, Isha. All the best. 355 00:18:54,760 --> 00:18:57,320 Isha, did you come here for investment 356 00:18:57,400 --> 00:19:00,160 or guidance and advice or both? 357 00:19:01,240 --> 00:19:04,880 Sir, I am still young. I need guidance and advice. 358 00:19:05,000 --> 00:19:06,840 You are getting that from everyone. 359 00:19:06,920 --> 00:19:09,080 They agreed to help you. But what about the investment? 360 00:19:09,320 --> 00:19:11,200 - I also want investment, sir. - You do? 361 00:19:11,480 --> 00:19:12,640 The lion is yet to speak, 362 00:19:13,080 --> 00:19:14,120 let's talk. 363 00:19:15,560 --> 00:19:16,880 I'll share a story with you. 364 00:19:17,640 --> 00:19:21,080 In the last one year, I have been looking for ketchup 365 00:19:21,560 --> 00:19:22,960 that is good for you. 366 00:19:23,280 --> 00:19:26,200 My daughter is young and she consumes a lot of ketchup. 367 00:19:26,280 --> 00:19:27,800 I did find a couple of brands 368 00:19:27,920 --> 00:19:29,360 and I got in touch with those founders. 369 00:19:29,400 --> 00:19:31,880 I was wondering why such products are in the category. 370 00:19:31,960 --> 00:19:34,400 But they expanded into groceries, 371 00:19:34,520 --> 00:19:36,800 aiming to include grains, 372 00:19:36,880 --> 00:19:39,840 apple cider vinegar, and various spreads. 373 00:19:39,960 --> 00:19:41,800 Although their ketchup was fantastic. 374 00:19:42,160 --> 00:19:43,920 After having your ketchup, 375 00:19:44,280 --> 00:19:46,360 I was reminded of one of the few 376 00:19:46,440 --> 00:19:49,320 natural healthy ketchups that is actually tasty. 377 00:19:49,600 --> 00:19:51,760 Your pitch is defined by three things. 378 00:19:52,400 --> 00:19:53,560 Three P's. 379 00:19:53,720 --> 00:19:54,880 Poise, 380 00:19:55,280 --> 00:19:57,520 product and passion. 381 00:19:58,200 --> 00:19:59,560 You are lacking a fourth P, 382 00:20:00,520 --> 00:20:02,960 which is a plan, a concrete plan. 383 00:20:03,720 --> 00:20:04,720 But that's okay. 384 00:20:04,960 --> 00:20:06,440 Every company is in different stages. 385 00:20:06,560 --> 00:20:08,560 Therefore, I consider you pre-revenue. 386 00:20:08,920 --> 00:20:10,360 I have an offer for you. 387 00:20:10,800 --> 00:20:12,920 Because I am passionate about this. 388 00:20:13,160 --> 00:20:16,200 This will be an emotional investment for me. 389 00:20:16,800 --> 00:20:19,840 I will give you Rs. 50 lakhs for 10%. 390 00:20:22,760 --> 00:20:24,280 You asked for 5%. 391 00:20:24,880 --> 00:20:26,160 A lot of work is pending. 392 00:20:27,080 --> 00:20:29,280 And I have a small condition. 393 00:20:30,680 --> 00:20:33,320 When do you have to complete the challenge of Rs. 1 crore? 394 00:20:33,440 --> 00:20:35,480 By March or April, 395 00:20:35,600 --> 00:20:39,720 I will bring the monthly ARR to Rs. 8 lakhs. 396 00:20:40,040 --> 00:20:42,680 - That's for sure. - Fantastic! I'll give you another Rs. 50 lakhs. 397 00:20:43,560 --> 00:20:45,200 In March, 398 00:20:45,280 --> 00:20:46,680 when your run rate is Rs. 8 lakhs... 399 00:20:46,680 --> 00:20:47,960 Even if it's Rs. 7 lakhs, I don't care. 400 00:20:47,960 --> 00:20:49,760 10% up and down doesn't matter. 401 00:20:49,840 --> 00:20:52,160 But I'll give you another Rs. 50 lakhs for another 10%. 402 00:21:00,240 --> 00:21:01,120 after that we will see what to do. 403 00:21:01,200 --> 00:21:03,480 For that, I will have to take a call, sir. 404 00:21:03,560 --> 00:21:04,840 - You'll have to take a call. - Yes. 405 00:21:04,880 --> 00:21:07,240 - Okay! Go and call. Let me know your decision. - Thank you! 406 00:21:07,280 --> 00:21:08,920 [music playing] 407 00:21:11,200 --> 00:21:12,880 - Very impressive founder. - Amazing! 408 00:21:13,000 --> 00:21:15,520 It's long-term! At 23, how much will it compound? 409 00:21:16,120 --> 00:21:18,320 She has to get a few things right. 410 00:21:18,680 --> 00:21:20,440 - If it was perfect, someone would've invested. - Yeah! 411 00:21:20,480 --> 00:21:22,560 - And Rs. 5 crores... - She's very good. 412 00:21:22,680 --> 00:21:24,520 Very fearless. 413 00:21:24,600 --> 00:21:26,480 She is so concise. It's hard to find someone like that. 414 00:21:26,480 --> 00:21:29,160 She is so concise in the way she answers. 415 00:21:30,920 --> 00:21:32,080 - Hello! - Hello! 416 00:21:38,160 --> 00:21:41,280 - Can you imagine, she is 23 years old. - Yes, amazing! 417 00:21:51,480 --> 00:21:53,160 [music playing] 418 00:21:55,200 --> 00:21:57,360 What about the condition? 419 00:21:57,840 --> 00:21:58,960 Ah... 420 00:21:59,120 --> 00:22:01,560 For now, I would like to take Rs. 50 lakhs for 10%. 421 00:22:01,640 --> 00:22:03,360 I know, but that is part of the deal. 422 00:22:04,120 --> 00:22:06,280 - I am sorry, I got confused. - Let me explain the offer. 423 00:22:06,280 --> 00:22:09,000 He says it's Rs. 50 lakhs for 10% now. 424 00:22:09,160 --> 00:22:12,360 And if he wants... Not you, but if he wants, 425 00:22:12,480 --> 00:22:15,040 when you hit the run rate of Rs. 8 lakhs per month, 426 00:22:15,120 --> 00:22:18,440 he can take another Rs. 50 lakhs for 10% at the same valuation 427 00:22:18,560 --> 00:22:21,160 and you can't refuse him. 428 00:22:21,240 --> 00:22:22,560 [music playing] 429 00:22:24,480 --> 00:22:26,080 - I can't refuse either. - Okay. 430 00:22:28,080 --> 00:22:29,960 Can we keep two ways? 431 00:22:30,040 --> 00:22:32,200 If it's around Rs. 8 lakhs, 432 00:22:32,400 --> 00:22:35,640 we will do maybe... As you said, your offer. 433 00:22:36,000 --> 00:22:38,480 But if it's Rs. 15 lakhs or Rs. 20 lakhs, 434 00:22:38,560 --> 00:22:40,880 - or an amount that impacts the business... - It increases. 435 00:22:41,040 --> 00:22:44,800 Then I feel that the valuation would be too low 436 00:22:44,920 --> 00:22:46,360 to dilute 20%. 437 00:22:46,600 --> 00:22:47,800 - Then... - Very nice. 438 00:22:47,880 --> 00:22:48,720 I am open to that. 439 00:22:48,800 --> 00:22:51,680 The range of our second tranche will be between 7%-10% 440 00:22:51,800 --> 00:22:52,880 depending on the numbers. 441 00:22:55,840 --> 00:22:56,880 This is good, Isha. 442 00:22:56,960 --> 00:22:58,880 Can you make it 5%? 443 00:23:01,920 --> 00:23:03,880 5%-10%, depending on the numbers. 444 00:23:17,400 --> 00:23:19,280 ...what will happen if sales are lower. 445 00:23:19,560 --> 00:23:22,360 You, on the other hand, negotiated based on what will happen if sales increase. 446 00:23:22,400 --> 00:23:23,280 Amazing! 447 00:23:23,360 --> 00:23:26,760 Sir, I know that I can sell because a lot is happening. 448 00:23:26,840 --> 00:23:28,760 You will! Remember this girl. 449 00:23:29,800 --> 00:23:30,960 [camera shutter clicks] 450 00:23:32,080 --> 00:23:33,760 Now, he will give advice, 451 00:23:34,160 --> 00:23:35,560 and he will mentor you. 452 00:23:35,680 --> 00:23:37,520 We shall see what we will do with both of them. 453 00:23:38,160 --> 00:23:39,280 They will eat the sauce. 454 00:23:39,400 --> 00:23:41,480 - All the best! - Great meeting you. 455 00:23:42,000 --> 00:23:44,320 [music playing] 456 00:23:49,720 --> 00:23:51,600 Amazing! Special founder. 457 00:23:51,880 --> 00:23:53,080 - Very good! - Good founder. 458 00:23:53,200 --> 00:23:54,840 - Very good! - There is 'Gud' in the name. 459 00:23:55,000 --> 00:23:56,720 [chuckles] 460 00:23:58,320 --> 00:24:00,440 [music playing] 461 00:24:04,280 --> 00:24:06,080 Welcome to ACKO Change Makers, 462 00:24:06,200 --> 00:24:07,800 where we really welcome change. 463 00:24:07,880 --> 00:24:11,200 It has been portrayed beautifully here, 464 00:24:11,520 --> 00:24:14,200 behind us on this change makers wall. 465 00:24:14,320 --> 00:24:15,840 With our forward-looking vision, 466 00:24:15,920 --> 00:24:19,000 we are bringing a change in health and fitness 467 00:24:19,200 --> 00:24:22,400 Today's change maker is Isha. 468 00:24:22,800 --> 00:24:23,960 - Hi! - Hello! 469 00:24:24,120 --> 00:24:26,160 - Congratulations! - Thank you! 470 00:24:31,680 --> 00:24:33,160 I avoid having sauce sometimes 471 00:24:33,240 --> 00:24:35,280 - and I don't let my dad eat also because of sugar. - Right! 472 00:24:35,320 --> 00:24:36,320 So, thank you 473 00:24:36,360 --> 00:24:39,120 - for inspiring so many people at such a young age. - Thank you. 474 00:24:39,240 --> 00:24:42,360 We have a lot of viewers who are young 475 00:24:42,440 --> 00:24:43,560 who have the same issue. 476 00:24:43,640 --> 00:24:45,360 Whether it's sugar, health, etcetera. 477 00:24:45,440 --> 00:24:48,360 How can they make smart choices without fear 478 00:24:48,440 --> 00:24:50,560 that they don't need to leave sugar 479 00:24:50,720 --> 00:24:53,640 but still lead a better life? Meaning make better choices. 480 00:24:53,720 --> 00:24:55,000 Moderation is the key. 481 00:24:55,160 --> 00:24:57,480 You need to be mindful 482 00:24:57,560 --> 00:25:00,480 about how much you are eating and when. 483 00:25:00,640 --> 00:25:03,080 But if you can't be mindful about that, 484 00:25:03,200 --> 00:25:05,720 you want to eat three meals. 485 00:25:05,840 --> 00:25:08,520 - Then you should look for better alternatives. - Yeah! 486 00:25:08,600 --> 00:25:11,920 At least switch the kind of sugar you are having. 487 00:25:12,000 --> 00:25:14,080 Don't have empty calories. 488 00:25:14,160 --> 00:25:15,960 You can switch it with jaggery, 489 00:25:16,040 --> 00:25:18,560 honey if you get good quality or rock sugar. 490 00:25:18,760 --> 00:25:22,200 If you have something with sweeteners with calories, 491 00:25:22,280 --> 00:25:25,240 then have the second one with Stevia or Monk fruit. 492 00:25:25,320 --> 00:25:27,160 - Basically, there are alternatives. - Yes. 493 00:25:27,240 --> 00:25:28,440 - Right! - Amazing! 494 00:25:28,520 --> 00:25:29,760 You've had so much clarity. 495 00:25:29,880 --> 00:25:32,240 Thank you for bringing the change in the industry. 496 00:25:32,360 --> 00:25:33,880 It's a great step forward. 497 00:25:34,080 --> 00:25:35,320 Let me tell you, 498 00:25:35,400 --> 00:25:37,560 she is making a change in this industry. 499 00:25:37,640 --> 00:25:39,840 ACKO, with its revolutionary offering, 500 00:25:39,920 --> 00:25:41,440 is changing the landscape of insurance. 501 00:25:41,480 --> 00:25:44,040 If your car breaks down 'mid-way, guys, 502 00:25:44,320 --> 00:25:45,440 don't worry. 503 00:25:45,520 --> 00:25:48,280 You get roadside support with ACKO's insurance 504 00:25:48,400 --> 00:25:50,760 and the real-time updates of real-time updates too. 505 00:25:50,840 --> 00:25:54,560 You are getting a memento from ACKO and Shark Tank. 506 00:25:55,160 --> 00:25:58,280 - Here you go! Congratulations! - Thank you! 507 00:26:00,560 --> 00:26:01,640 [camera shutter clicks] 508 00:26:13,160 --> 00:26:14,880 [theme music playing] 509 00:26:21,280 --> 00:26:23,280 [theme music playing] 510 00:26:23,840 --> 00:26:26,640 [theme music playing] 511 00:26:38,320 --> 00:26:41,600 Sharks, whether we gain anything or not in this world, 512 00:26:41,800 --> 00:26:45,480 there’s one thing we all seek and that's freedom. 513 00:26:46,560 --> 00:26:48,840 Imagine a world 514 00:26:48,920 --> 00:26:52,240 where there’s the freedom to do anything. 515 00:26:53,640 --> 00:26:58,200 Freedom to boldly express our true personality. 516 00:26:59,680 --> 00:27:03,080 Freedom to unleash the artist within us. 517 00:27:03,160 --> 00:27:06,720 And this is the world of skateboarding! 518 00:27:07,000 --> 00:27:08,000 Wow! 519 00:27:08,200 --> 00:27:10,560 [music playing] 520 00:27:15,880 --> 00:27:17,080 Whoa! 521 00:27:17,160 --> 00:27:20,160 [music playing] 522 00:27:41,360 --> 00:27:42,760 Don't do that. 523 00:27:42,880 --> 00:27:44,800 [music playing] 524 00:27:53,960 --> 00:27:55,840 - Well done, guys. - Good job. 525 00:27:55,920 --> 00:27:56,960 - Wow! - Very good. 526 00:27:57,040 --> 00:27:58,320 Well done! 527 00:27:59,960 --> 00:28:01,120 Thank you! 528 00:28:02,560 --> 00:28:06,800 Skateboarding is rapidly growing among the youth in India today 529 00:28:07,760 --> 00:28:11,000 because it also represents their idols. 530 00:28:11,200 --> 00:28:13,720 Worldwide, skateboarding 531 00:28:13,840 --> 00:28:15,760 is the sixth most popular sport. 532 00:28:27,000 --> 00:28:28,080 ...that embraces 533 00:28:28,880 --> 00:28:31,120 hip-hop, fashion, and street culture. 534 00:28:31,200 --> 00:28:33,040 Not just that, it's also a competitive category 535 00:28:33,120 --> 00:28:34,440 in the Olympics. 536 00:28:34,520 --> 00:28:36,880 But even today, in India, 537 00:28:36,960 --> 00:28:40,960 finding a good skateboard is like looking for a needle in a haystack. 538 00:28:41,040 --> 00:28:43,880 - Oh! - If by chance you find a good skateboard, 539 00:28:44,120 --> 00:28:47,400 it comes with a heavy price tag 540 00:28:47,480 --> 00:28:49,320 that anyone would think twice before buying it. 541 00:28:49,560 --> 00:28:51,560 So, Sharks, if this continues, 542 00:28:51,720 --> 00:28:53,720 then how will we feel free? 543 00:28:54,960 --> 00:28:56,640 Sharks, I am Ravinder, 544 00:29:02,760 --> 00:29:04,240 I am from Chandigarh. 545 00:29:04,320 --> 00:29:08,120 And we are Skate Supply India. 546 00:29:08,760 --> 00:29:11,280 A multi-brand platform 547 00:29:11,360 --> 00:29:14,640 where we have exclusive rights to sell 548 00:29:14,760 --> 00:29:19,040 not just one or two, but a total of 20 international skateboard 549 00:29:19,400 --> 00:29:22,320 product brands across India. 550 00:29:28,720 --> 00:29:31,120 Worldwide, the market for skateboards 551 00:29:31,200 --> 00:29:34,120 is more than Rs. 22,000 crores. 552 00:29:34,640 --> 00:29:36,480 In the last 1.5 years, 553 00:29:36,560 --> 00:29:40,200 we have catered to more than 4,000 customers. 554 00:29:40,360 --> 00:29:43,520 We started direct-to-consumer market last year. 555 00:29:43,600 --> 00:29:45,320 But we have been connected 556 00:29:55,240 --> 00:29:58,040 So, Sharks, This revolution has started in India. 557 00:29:58,200 --> 00:30:00,680 And we are on our skateboard 558 00:30:00,800 --> 00:30:03,080 to push this revolution even further. 559 00:30:03,280 --> 00:30:07,840 Today, our ask is Rs. 50 lakhs for 2% equity in our company. 560 00:30:11,480 --> 00:30:13,040 Say it! 561 00:30:13,120 --> 00:30:16,160 - Freedom! - We will take it back! 562 00:30:16,360 --> 00:30:17,760 Skate Supply India! 563 00:30:17,960 --> 00:30:19,520 Great energy 564 00:30:19,640 --> 00:30:21,600 and powerful presentation. 565 00:30:21,680 --> 00:30:25,400 - Thank you so much! - Your friends woke us up 566 00:30:25,480 --> 00:30:28,120 - by skateboarding. - Ravi, have we met? 567 00:30:28,400 --> 00:30:30,640 - No, never! - You look familiar. 568 00:30:31,720 --> 00:30:33,040 Weren't you a Shark earlier? 569 00:30:33,280 --> 00:30:34,280 No. 570 00:30:34,320 --> 00:30:37,400 - But... - You look like a Shark. I don't know who. 571 00:30:37,720 --> 00:30:39,600 - I've been told! - Actually... 572 00:30:39,680 --> 00:30:41,840 What you are hinting at, 573 00:30:41,920 --> 00:30:44,280 - we've heard that many times. - Anupam is right! 574 00:30:45,200 --> 00:30:47,320 - You've been told that, right? - Many times. 575 00:30:47,560 --> 00:30:50,720 But your personality is absolutely different. 576 00:30:50,840 --> 00:30:51,840 Thank you! 577 00:30:51,920 --> 00:30:53,360 You are a guy who smiles 578 00:30:53,440 --> 00:30:54,480 and a nice guy. 579 00:30:54,600 --> 00:30:57,480 I am smiling because my wife told me 580 00:30:57,680 --> 00:31:00,440 that it has to be impactful. If I don't smile, 581 00:31:00,600 --> 00:31:02,200 it won't be impactful. 582 00:31:02,320 --> 00:31:03,680 - I'm smiling out of fear. - She'll ensure you never smile again. 583 00:31:03,680 --> 00:31:05,240 [laughing] 584 00:31:05,480 --> 00:31:08,840 - Look at our wedding photo, he's not smiling even once. - Oh my! 585 00:31:08,920 --> 00:31:10,120 And I am standing like this. 586 00:31:10,280 --> 00:31:11,360 [laughing] 587 00:31:12,160 --> 00:31:13,680 You got married in which year? 588 00:31:13,840 --> 00:31:14,880 We got married in 2013. 589 00:31:14,960 --> 00:31:17,280 - 2013, okay. - How did you come up with skating? 590 00:31:17,360 --> 00:31:18,760 From marriage to skating. 591 00:31:19,880 --> 00:31:22,120 I am into skateboarding manufacturing. 592 00:31:22,200 --> 00:31:25,880 - I've been skateboarding for more than 20 years. - Oh! 593 00:31:26,080 --> 00:31:28,240 We started direct-to-consumer last year. 594 00:31:28,320 --> 00:31:30,200 How did you get into manufacturing? 595 00:31:30,400 --> 00:31:33,240 I went to meet a friend in China. 596 00:31:33,440 --> 00:31:35,560 In 2004, 597 00:31:35,800 --> 00:31:38,920 I went to a company to interview. 598 00:31:39,480 --> 00:31:41,240 They were into skateboarding. 599 00:31:41,600 --> 00:31:43,440 I worked over there for 1.5 years. 600 00:31:43,520 --> 00:31:47,440 The boss shut down his office 601 00:31:47,680 --> 00:31:50,200 and the customers came to me. 602 00:31:50,280 --> 00:31:52,320 This is how my journey of skateboarding started. 603 00:32:15,960 --> 00:32:17,640 It takes an hour from Guangdong. 604 00:32:17,720 --> 00:32:18,960 Our factory is in China. 605 00:32:23,560 --> 00:32:25,600 We live in India as well as there. 606 00:32:32,320 --> 00:32:34,040 That says Skate India Supply. 607 00:32:34,120 --> 00:32:37,920 - SWC Brand Pvt Ltd is the name of our company. - And this... 608 00:32:38,000 --> 00:32:39,760 And this is our brand name. 609 00:32:39,840 --> 00:32:40,880 Then what's Hearty? 610 00:32:41,160 --> 00:32:42,800 Hearty is a sub-brand. 611 00:32:42,920 --> 00:32:45,280 What's the name of the company in China? 612 00:32:45,360 --> 00:32:46,920 Bubble Skatzz Company Limited. 613 00:32:47,000 --> 00:32:49,320 What does that company do? 614 00:32:49,400 --> 00:32:50,880 - Just manufacturing. - Manufacturing. 615 00:32:50,920 --> 00:32:52,600 For their brand or the world? 616 00:32:52,680 --> 00:32:53,840 - The world. - Globally. 617 00:32:57,920 --> 00:32:59,120 All we've done is 618 00:32:59,200 --> 00:33:01,640 over time, take the pan-India rights 619 00:33:01,880 --> 00:33:04,880 and distribution of international companies and we're... 620 00:33:05,000 --> 00:33:07,760 You supply to some of those brands through your China factory... 621 00:33:07,840 --> 00:33:09,440 80% of the brands are manufactured by us. 622 00:33:09,520 --> 00:33:10,600 80% of those brands. 623 00:33:10,720 --> 00:33:12,360 - 80% of those brands! - Yes. 624 00:33:12,800 --> 00:33:15,280 You have other products apart from skateboards. 625 00:33:15,360 --> 00:33:16,400 Tell us about them. 626 00:33:16,480 --> 00:33:17,480 Hearty is... 627 00:33:24,880 --> 00:33:28,960 including multi-million dollar brands 628 00:33:29,040 --> 00:33:32,120 because of how they look, for their comfort 629 00:33:32,240 --> 00:33:34,680 and also their convenience. 630 00:33:39,960 --> 00:33:42,120 - Oh my God! It's heavy. - If I try this, will I fall? 631 00:33:42,200 --> 00:33:43,440 - Hey, Aman! - We'll help you. 632 00:33:43,520 --> 00:33:44,800 Give him a helmet. 633 00:33:44,960 --> 00:33:46,000 No need for a helmet. 634 00:33:46,560 --> 00:33:47,800 Whoa! 635 00:33:54,080 --> 00:33:55,960 - Out of the way! - Whoa! 636 00:33:56,080 --> 00:33:57,960 - [Aman laughs] - Whoa! You'll hurt your head. 637 00:34:00,080 --> 00:34:02,120 Can you guys seriously do this? 638 00:34:02,240 --> 00:34:03,440 Ravi can do it very well. 639 00:34:03,520 --> 00:34:04,720 Okay? Show us. 640 00:34:04,840 --> 00:34:06,240 Just don't fall. 641 00:34:08,640 --> 00:34:10,080 Not bad! 642 00:34:10,600 --> 00:34:13,120 If you sell it all day, you'll get good at skating too. 643 00:34:13,480 --> 00:34:14,640 He can do it. 644 00:34:15,080 --> 00:34:17,800 - Nice! That was good, wow! - Great. Good job. 645 00:34:17,920 --> 00:34:19,200 You sell hats too, okay. 646 00:34:21,760 --> 00:34:23,680 I love this though. Devil... Hearty! 647 00:34:24,880 --> 00:34:25,880 It's terrific. 648 00:34:26,920 --> 00:34:28,680 A lot of brands in the US 649 00:34:28,760 --> 00:34:31,160 like Vans have been in business for 50 years, right? 650 00:34:31,480 --> 00:34:34,400 Why didn't this culture become big in India? 651 00:34:35,480 --> 00:34:37,400 Let's take the sneaker culture for example 652 00:34:37,480 --> 00:34:38,720 that recently picked up. 653 00:34:38,840 --> 00:34:40,280 Again, we thought 654 00:34:40,360 --> 00:34:42,720 such expensive sneakers would never sell in India. 655 00:34:42,840 --> 00:34:44,600 It all boils down to availability. 656 00:34:44,680 --> 00:34:47,840 If the availability increases and the pricing is right, 657 00:34:47,920 --> 00:34:50,320 then people are bound to buy it. 658 00:34:51,080 --> 00:34:52,440 No, the pricing comes later on. 659 00:34:52,520 --> 00:34:56,880 Initially what happens is a few people buy the sneakers, 660 00:34:57,000 --> 00:34:58,920 people happen to see them somewhere, you know? 661 00:34:59,040 --> 00:35:00,920 Skateboarding was never seen in India. 662 00:35:01,000 --> 00:35:03,040 I mean, it's there and a lot of people are doing it. 663 00:35:04,000 --> 00:35:07,400 Skateboarding is growing at a really fast pace in India. 664 00:35:07,480 --> 00:35:09,800 Give us some numbers. 665 00:35:19,840 --> 00:35:22,040 if you check the statistics and data, 666 00:35:22,120 --> 00:35:24,200 India, in the Asia Pacific, 667 00:35:24,280 --> 00:35:26,960 is the fastest-growing when it comes to skateboards. 668 00:35:27,160 --> 00:35:30,160 India has 5 lakh active skateboarders. 669 00:35:30,240 --> 00:35:32,160 Go to any Metro station 670 00:35:32,240 --> 00:35:34,800 and you'll see 100 skateboarders on any given day. 671 00:35:34,880 --> 00:35:37,120 True, but not a very high number. 672 00:35:37,200 --> 00:35:38,320 That's the problem. 673 00:35:39,560 --> 00:35:41,560 How are your skateboards priced? 674 00:35:42,160 --> 00:35:44,240 We sell skateboards on our website, that start at Rs. 1,000 675 00:35:44,240 --> 00:35:46,960 and the highest one is priced at Rs. 50,000. 676 00:35:47,040 --> 00:35:48,560 What does a regular user buy? 677 00:35:48,640 --> 00:35:52,120 What a skateboarder would buy starts at Rs. 3,000 678 00:35:52,200 --> 00:35:53,920 and the best-selling skateboards 679 00:35:54,000 --> 00:35:55,800 are in the range of Rs. 5,000 to 6,000. 680 00:35:55,920 --> 00:35:58,160 What are similar quality skateboards priced at? 681 00:35:58,240 --> 00:36:00,880 Our biggest competitor is Decathlon. 682 00:36:12,760 --> 00:36:14,040 We offer more variety. 683 00:36:14,120 --> 00:36:16,840 The second differentiator is quality. 684 00:36:28,360 --> 00:36:30,240 and be making Rs. 15-20 crores a year. 685 00:36:30,320 --> 00:36:34,320 Why are you enthusiastic about a Rs. 50-crore market? 686 00:36:36,080 --> 00:36:37,080 Here's a fact. 687 00:36:37,120 --> 00:36:38,840 Regardless of the size of your business, 688 00:36:38,960 --> 00:36:41,440 you need to be enthusiastic. It's what brings growth. 689 00:36:41,560 --> 00:36:44,200 When we started this, we were nothing. 690 00:36:44,280 --> 00:36:46,040 We built this from scratch. 691 00:36:46,120 --> 00:36:47,760 And by nothing, I mean 692 00:36:47,840 --> 00:36:51,080 nobody gave us a rupee to build this. 693 00:36:51,200 --> 00:36:54,160 We did it on our own, reinvested money and got it going. 694 00:36:54,280 --> 00:36:55,880 Now, the business is at a level 695 00:36:55,960 --> 00:37:00,360 where we don't wish to expand or grow it further. 696 00:37:00,440 --> 00:37:04,960 Jas, do you think that your sales and growth of this brand 697 00:37:05,160 --> 00:37:07,560 - are way higher compared to manufacturing? - Yes. 698 00:37:07,640 --> 00:37:09,040 - Way higher. - In 5 to 6 years... 699 00:37:09,120 --> 00:37:10,520 Do one thing. 700 00:37:10,640 --> 00:37:11,720 Tell us your numbers 701 00:37:11,800 --> 00:37:13,440 and also tell us your vision 702 00:37:13,560 --> 00:37:15,960 in the next 5 years for those numbers. 703 00:37:16,640 --> 00:37:19,680 We've done Rs. 85 lakhs this year so far. 704 00:37:20,160 --> 00:37:21,480 When did you start sales? 705 00:37:21,560 --> 00:37:22,920 In June last year. 706 00:37:23,040 --> 00:37:24,960 What were the numbers in the last 6 months? 707 00:37:25,080 --> 00:37:28,720 We did Rs. 57 lakhs in 6 months last year. 708 00:37:30,040 --> 00:37:31,680 What are the projected sales for the year? 709 00:37:31,720 --> 00:37:34,400 We will close at around Rs. 2 crores. 710 00:37:38,520 --> 00:37:43,040 This year's net profit so far is 9%. 711 00:37:53,920 --> 00:37:55,200 We burned money last year 712 00:37:55,320 --> 00:37:57,240 because we were trying to build our brand. 713 00:37:57,360 --> 00:38:01,280 And also, last year, we added a lot many assets too. 714 00:38:01,400 --> 00:38:03,840 Does Skate Supply India currently sell just Hearty 715 00:38:03,920 --> 00:38:05,000 or other brands as well? 716 00:38:05,720 --> 00:38:06,760 20 brands. 717 00:38:06,840 --> 00:38:09,440 Out of the projected sales of Rs. 2 crores this year, 718 00:38:09,920 --> 00:38:13,520 what would be Hearty's share and that of other brands? 719 00:38:14,240 --> 00:38:19,360 The current sales of Hearty is almost 78% 720 00:38:19,440 --> 00:38:20,800 compared to other brands. 721 00:38:21,000 --> 00:38:23,160 So, 80% of the sales is through your brand. 722 00:38:23,240 --> 00:38:24,360 Yes, Hearty. 723 00:38:25,560 --> 00:38:27,520 Which cities do you sell in? 724 00:38:27,680 --> 00:38:29,560 Mumbai is the biggest market. 725 00:38:29,640 --> 00:38:31,280 What percent of sales is Mumbai? 726 00:38:31,360 --> 00:38:34,480 - The sales from Mumbai constitute 30%. - 30%. 727 00:38:34,560 --> 00:38:37,560 - Mumbai and Pune are two markets where... - And the rest? 728 00:38:37,640 --> 00:38:40,720 And 40% of the sales are from Delhi. 729 00:38:40,800 --> 00:38:44,400 When I say Delhi, Haryana and Gurugram are also included. 730 00:38:44,480 --> 00:38:46,440 70% comes from two clusters. 731 00:38:46,520 --> 00:38:50,600 Yes, the rest is from Chandigarh where we have walk-in sales too. 732 00:38:50,720 --> 00:38:53,760 All the skateboarding competitions in India... 733 00:38:53,840 --> 00:38:56,520 - Nationals... - The Nationals are held in Chandigarh. 734 00:38:57,200 --> 00:39:00,760 Our walk-in sales are 50% from the Chandigarh warehouse. 735 00:39:09,160 --> 00:39:11,800 Will the entire sales be from India or globally too? 736 00:39:11,880 --> 00:39:13,600 It's purely from India now. 737 00:39:13,680 --> 00:39:15,760 Yes, we do want to distribute 738 00:39:15,880 --> 00:39:19,680 our Hearty brand in different countries. 739 00:39:19,760 --> 00:39:23,400 So, what percentage out of Rs. 500 crores will be from India 740 00:39:23,640 --> 00:39:26,680 and what percentage of distribution will be from abroad? 741 00:39:27,480 --> 00:39:31,440 If we... A lot of networks, say Europe, US, 742 00:39:31,520 --> 00:39:34,560 Japan, a few markets in the Asia Pacific 743 00:39:34,640 --> 00:39:35,960 and Australia as well, 744 00:39:36,120 --> 00:39:38,360 we are in talks with a few distributors. 745 00:39:38,440 --> 00:39:40,280 If we can crack even a few of them, 746 00:39:40,360 --> 00:39:44,560 then at least 20 to 25% will come from these regions. 747 00:39:45,360 --> 00:39:47,840 Which is the world's biggest skateboard brand? 748 00:39:47,920 --> 00:39:49,000 There are quite a few. 749 00:39:49,080 --> 00:39:50,960 Santa Cruz is doing very well. 750 00:39:51,040 --> 00:39:52,440 Primitive is also doing good. 751 00:39:52,600 --> 00:39:54,200 Then, there's Toy Machine. 752 00:39:55,280 --> 00:39:56,680 What's the revenue of Santa Cruz? 753 00:39:56,760 --> 00:40:01,120 Santa Cruz sells nearly 2,00,000 skateboards a year 754 00:40:01,240 --> 00:40:04,480 and its single-product price is more than USD 100. 755 00:40:04,880 --> 00:40:08,800 Their retail price starts from USD 100 to 160. 756 00:40:08,920 --> 00:40:11,920 If we consider USD 100, it's just 20 million USD. 757 00:40:13,840 --> 00:40:16,240 I was talking only about their skateboards. 758 00:40:16,320 --> 00:40:19,440 They sell 2,00,000 pieces of just skateboards. 759 00:40:19,560 --> 00:40:22,600 No skateboard brand sells just skateboards. 760 00:40:23,200 --> 00:40:26,160 They have merchandise, hats and shoes. 761 00:40:26,280 --> 00:40:29,360 The revenue from their merchandise is very high 762 00:40:29,440 --> 00:40:30,880 and the units are a lot too. 763 00:40:30,960 --> 00:40:35,360 Every skateboard brand sells either apparel or shoes. 764 00:40:36,480 --> 00:40:40,760 You won't see any skateboard brand that doesn't sell apparel. 765 00:40:40,840 --> 00:40:41,840 Got it. 766 00:40:42,200 --> 00:40:45,360 Ravi and Jas, I love your enthusiasm. 767 00:40:45,440 --> 00:40:49,080 - Your energy level is infectious. Crazy! - Thank you. 768 00:40:49,200 --> 00:40:51,280 However, I don't have the confidence 769 00:40:51,360 --> 00:40:55,200 that this will pick up to international levels in India 770 00:40:55,360 --> 00:40:57,080 as you anticipate. 771 00:40:58,120 --> 00:40:59,720 I know it's a... You know... 772 00:40:59,880 --> 00:41:03,760 - This is a medium of self-expression, right? - Yes. 773 00:41:03,840 --> 00:41:07,080 But it requires a lot of culture, place, 774 00:41:07,160 --> 00:41:10,440 and the pits where you skate up and down, that you see in the US... 775 00:41:11,600 --> 00:41:13,400 You need a lot of that in place. 776 00:41:13,480 --> 00:41:18,480 I'm not feeling that confident about the TAM and culture right now. 777 00:41:20,040 --> 00:41:21,720 For that reason, I'm out 778 00:41:21,880 --> 00:41:23,600 but I hope you prove me wrong. 779 00:41:24,240 --> 00:41:26,800 Skateboarding isn't just done in bowls, it can be done on flat lands! 780 00:41:26,800 --> 00:41:28,080 No, I mean... 781 00:41:28,160 --> 00:41:29,640 [all laugh] 782 00:41:30,600 --> 00:41:32,760 I mean, in terms of... When you go to the US, 783 00:41:32,840 --> 00:41:34,480 - and people watch... - Not many people go to bowls. 784 00:41:34,520 --> 00:41:36,120 Most do it on flat lands. 785 00:41:36,280 --> 00:41:38,120 But I enjoy seeing it in the bowl more. 786 00:41:38,200 --> 00:41:39,960 I've enjoyed that more. 787 00:41:40,040 --> 00:41:41,680 It's done more on flat lands 788 00:41:41,760 --> 00:41:44,200 and people mostly skate for casual cruising. 789 00:41:44,280 --> 00:41:45,520 The tricks you mentioned 790 00:41:45,640 --> 00:41:47,200 - are a part of it. - Even on flat land, 791 00:41:47,280 --> 00:41:49,400 I'm not confident of the TAM and that's why I'm out. 792 00:41:49,480 --> 00:41:50,800 Okay, thank you. 793 00:41:50,880 --> 00:41:53,360 Ravi and Jas, my suggestion to you would be, 794 00:41:53,440 --> 00:41:56,600 do not take money from investors for this at all. 795 00:41:57,680 --> 00:42:02,320 Why take investor pressure and complicate your passion? 796 00:42:03,200 --> 00:42:05,320 And let this be your passion project. 797 00:42:05,400 --> 00:42:08,440 Unless the market grows and touches Rs. 100-150 crores, 798 00:42:08,640 --> 00:42:10,600 you must not raise funds 799 00:42:10,680 --> 00:42:12,240 for your own sanity. 800 00:42:14,000 --> 00:42:16,240 I wish you all the best but I am out. 801 00:42:16,360 --> 00:42:17,840 - That's okay. Thank you. - Thank you. 802 00:42:17,960 --> 00:42:21,480 I think more than your energy, 803 00:42:21,560 --> 00:42:23,320 I liked your authenticity. 804 00:42:24,280 --> 00:42:25,600 You are what you say you are. 805 00:42:26,400 --> 00:42:27,520 The market is small 806 00:42:27,600 --> 00:42:30,520 and it isn't clear what will exactly happen, right? 807 00:42:30,840 --> 00:42:33,000 So, it's a bet on you two 808 00:42:34,160 --> 00:42:36,040 and some culture. 809 00:42:36,160 --> 00:42:38,160 You know, it may or may not work out. 810 00:42:38,240 --> 00:42:39,760 I could bet on that, 811 00:42:40,120 --> 00:42:43,720 but I think the bigger issue is your manufacturing in China. 812 00:42:45,840 --> 00:42:47,520 It's good for you. Very good for you. 813 00:42:47,600 --> 00:42:51,080 But as an investor, I'm trying to weigh the risks. 814 00:42:51,600 --> 00:42:53,880 How do I ensure my investment? 815 00:42:54,640 --> 00:42:56,680 I don't want to get stuck. 816 00:42:57,720 --> 00:43:00,120 You're making good money. 817 00:43:01,440 --> 00:43:04,560 I was wondering if there was a way 818 00:43:04,640 --> 00:43:07,360 where I could give you input 819 00:43:07,640 --> 00:43:09,760 and at the same time, secure my investment. 820 00:43:09,840 --> 00:43:11,160 It'll still be risky. 821 00:43:12,560 --> 00:43:13,760 But there's a shot. 822 00:43:14,240 --> 00:43:15,800 Right? So, I'll make you an offer. 823 00:43:17,920 --> 00:43:19,560 Rs. 50 lakhs for 5%. 824 00:43:19,880 --> 00:43:21,640 So, that's a Rs. 10-crore valuation 825 00:43:21,760 --> 00:43:23,960 which is, I think, decent. 826 00:43:25,240 --> 00:43:27,800 However, to secure my investment, 827 00:43:28,400 --> 00:43:29,880 I will need a royalty. 828 00:43:32,520 --> 00:43:35,600 That would be 2% of sales until I make 2x. 829 00:43:41,560 --> 00:43:44,240 it's always with a narrow TAM. 830 00:43:44,840 --> 00:43:48,320 Generally, both the investors and the founders are clear 831 00:43:48,400 --> 00:43:50,840 as to how the TAM will expand going forward. 832 00:43:51,480 --> 00:43:53,720 I am not clear about it in this space. 833 00:43:55,000 --> 00:43:56,400 For this reason, I am out 834 00:43:56,520 --> 00:43:59,080 but even if it is at a slightly higher valuation, 835 00:43:59,160 --> 00:44:00,920 I'd love to look at it in the future. 836 00:44:01,080 --> 00:44:02,400 Wish you all the best, guys. 837 00:44:04,040 --> 00:44:05,160 This is a sub-culture 838 00:44:05,480 --> 00:44:08,120 and you never know when a sub-culture turns into a culture. 839 00:44:10,120 --> 00:44:11,640 I'd like to join you. 840 00:44:13,600 --> 00:44:15,840 Rs. 50 lakhs for 5% 841 00:44:17,440 --> 00:44:21,240 but I need a royalty of 2% of sales 842 00:44:21,360 --> 00:44:23,320 until I get my money back. 843 00:44:27,480 --> 00:44:28,920 [tense music playing] 844 00:44:31,000 --> 00:44:32,680 Okay, he has matched the offer. 845 00:44:32,760 --> 00:44:34,880 Both the offers are the same. Pick one. 846 00:44:37,280 --> 00:44:38,760 Keep one thing in mind. 847 00:44:38,920 --> 00:44:42,120 When an investor Shark takes royalty from you, 848 00:44:42,240 --> 00:44:46,040 it means they're valuing your company at 0. Get it? 849 00:44:46,480 --> 00:44:47,480 Okay? 850 00:44:47,520 --> 00:44:49,920 The Shark will recover the entire investment 851 00:44:50,000 --> 00:44:51,600 regardless of whether the company runs. 852 00:44:51,920 --> 00:44:53,120 We didn't say that. 853 00:44:53,200 --> 00:44:55,160 Anupam said that during one of the pitches. 854 00:44:56,640 --> 00:44:59,280 No matter what the valuation, 855 00:44:59,360 --> 00:45:00,800 the value is limitless. 856 00:45:00,920 --> 00:45:02,680 - This is just sweet talk. - Now... 857 00:45:02,760 --> 00:45:04,120 [laughter] 858 00:45:04,200 --> 00:45:06,880 The valuation will come written on your paperwork. 859 00:45:07,080 --> 00:45:09,240 The valuation will be Rs. 10 crores. 860 00:45:09,520 --> 00:45:11,000 [pensive music playing] 861 00:45:13,200 --> 00:45:14,840 So, we agree to 3% equity 862 00:45:14,920 --> 00:45:17,400 and we don't wish to give royalty. 863 00:45:23,040 --> 00:45:24,760 It's difficult for me without royalty. 864 00:45:24,880 --> 00:45:27,200 If Aman wants to do the deal without royalty, he's free to. 865 00:45:29,000 --> 00:45:32,160 Rs. 50 lakhs for 4%. I reduced the equity by 1%. 866 00:45:32,240 --> 00:45:34,400 - And royalty. - And royalty of 1%. 867 00:45:42,720 --> 00:45:45,240 Ravi, bro! Jas, bro! Take a call. 868 00:45:47,880 --> 00:45:51,880 So, no royalty and 3.5% equity. 869 00:45:52,120 --> 00:45:54,440 Let's stick to Rs. 50 lakhs. 870 00:45:59,480 --> 00:46:01,000 [tense music playing] 871 00:46:05,040 --> 00:46:06,040 Finger hearts. 872 00:46:06,160 --> 00:46:07,360 Let's do one thing, Anupam. 873 00:46:07,960 --> 00:46:10,680 You want a deal with two Sharks and you'll get us both. 874 00:46:10,760 --> 00:46:12,320 Rs. 50 lakhs for 5% equity. 875 00:46:14,280 --> 00:46:16,200 But we will take royalty. 876 00:46:17,080 --> 00:46:19,320 1% till we get our 1x return. 877 00:46:24,000 --> 00:46:25,760 Please, let's not do royalty. 878 00:46:25,840 --> 00:46:26,960 No, that's not possible. 879 00:46:29,640 --> 00:46:31,200 Jas, final decision now. 880 00:46:31,280 --> 00:46:32,560 - Let's finish it off. - Jas, please decide. 881 00:46:32,560 --> 00:46:34,160 - Let's finish it off. - Decide, come on. 882 00:46:36,800 --> 00:46:39,280 Final decision. No royalty, 4% equity. 883 00:46:43,360 --> 00:46:44,520 Not on the table. 884 00:46:46,920 --> 00:46:49,200 Okay, then just pass on it. It's okay. 885 00:46:49,680 --> 00:46:50,680 It's okay. 886 00:46:53,000 --> 00:46:54,440 Okay. Thank you, guys. 887 00:46:54,560 --> 00:46:55,480 - Thank you. - All the best. 888 00:46:55,560 --> 00:46:58,600 - Thank you. Thank you so much for your time. - Thanks, take care. 889 00:46:58,800 --> 00:47:01,040 'We didn't want to do a one-sided deal.' 890 00:47:01,120 --> 00:47:02,680 'We were clear about it from the start.' 891 00:47:02,760 --> 00:47:04,800 We even told them 892 00:47:04,880 --> 00:47:07,280 to come on board for 4% equity 893 00:47:07,400 --> 00:47:09,600 and Rs. 50 lakhs, 894 00:47:09,760 --> 00:47:12,960 but had we accepted the deal, 895 00:47:13,240 --> 00:47:15,400 it'd have been unfair to us. 896 00:47:15,720 --> 00:47:17,160 And that's it! 897 00:47:21,480 --> 00:47:23,200 - Hello, Jaspreet and Ravinder. - Hello. 898 00:47:23,280 --> 00:47:24,880 - How are you? - Very good. 899 00:47:25,080 --> 00:47:26,200 - Great? - Absolutely. 900 00:47:26,280 --> 00:47:28,560 Welcome to our PokerBaazi zone where you hold the cards. 901 00:47:28,640 --> 00:47:31,440 Well, poker and business have many similarities. 902 00:47:31,560 --> 00:47:33,920 The tables can turn at any time, right? 903 00:47:34,120 --> 00:47:37,160 There are three phases to opening the community cards in poker. 904 00:47:37,280 --> 00:47:39,120 The first phase is a flop. 905 00:47:40,280 --> 00:47:41,880 That's a flop. 906 00:47:43,440 --> 00:47:44,920 Then comes a turn. 907 00:47:45,360 --> 00:47:47,000 And then, a river. 908 00:47:47,160 --> 00:47:50,400 Similarly, every business has three phases too. 909 00:48:16,440 --> 00:48:18,920 We were already manufacturing skateboards. 910 00:48:19,000 --> 00:48:22,880 During the pandemic, we started getting random texts 911 00:48:22,960 --> 00:48:24,440 to start selling individual products. 912 00:48:24,520 --> 00:48:27,760 - Manufacturing does have the bare minimums. - Yes. 913 00:48:28,000 --> 00:48:30,920 - We'd get a lot of queries from India. - Hmm. 914 00:48:31,000 --> 00:48:32,040 Then we thought 915 00:48:32,200 --> 00:48:35,760 it was the right time to introduce this business in India. 916 00:48:35,840 --> 00:48:38,360 We spoke to many international brands 917 00:48:38,440 --> 00:48:39,800 and requested them 918 00:48:39,880 --> 00:48:45,520 to give us competitive prices for our Indian market. 919 00:48:45,680 --> 00:48:47,680 That was our journey. 920 00:48:47,760 --> 00:48:49,920 We introduced this product. 921 00:48:50,000 --> 00:48:51,440 The culture already exists. 922 00:48:51,520 --> 00:48:53,840 It's a vibe and it is going to explode. 923 00:48:53,920 --> 00:48:55,320 We're absolutely sure of that. 924 00:48:55,400 --> 00:48:56,400 Amazing. 925 00:49:20,800 --> 00:49:22,120 Log on to the PokerBaazi app, 926 00:49:22,200 --> 00:49:23,880 use your strategies to make a winning hand. 927 00:49:23,960 --> 00:49:25,680 Go and download the PokerBaazi app now. 928 00:49:25,800 --> 00:49:27,320 - What are you doing? - 17... 929 00:49:27,720 --> 00:49:31,000 I was making a prediction for the Sharks. 930 00:49:31,080 --> 00:49:33,000 I'm strategising what they could do next. 931 00:49:33,120 --> 00:49:35,440 You are predicting for the Sharks! 932 00:49:35,520 --> 00:49:37,480 - Yes. - You're that drawing-room Shark! 933 00:49:37,680 --> 00:49:39,440 Didn't you see the last pitch? 934 00:49:39,520 --> 00:49:42,240 They should've made the deal. It had a lot of potential. 935 00:49:42,320 --> 00:49:43,360 I got it! 936 00:49:43,440 --> 00:49:44,600 Do you feel the same? 937 00:49:44,720 --> 00:49:47,080 You think you're a Shark, 938 00:49:47,160 --> 00:49:49,440 you can do this too and you know everything, right? 939 00:49:49,720 --> 00:49:51,600 If you know everything, then prove it. 940 00:49:51,680 --> 00:49:53,520 Visit the Lenskart app or Lenskart.com 941 00:49:53,600 --> 00:49:55,680 and participate in the Offer Or No Offer contest. 942 00:49:55,760 --> 00:49:59,640 Predict who gets the funding and who doesn't, just like me, 943 00:50:11,640 --> 00:50:12,560 First, you go. 944 00:50:12,640 --> 00:50:14,360 Go. I was going to participate anyway! 945 00:50:14,840 --> 00:50:15,840 [sighs] 946 00:50:16,000 --> 00:50:17,520 [theme music playing] 947 00:50:34,480 --> 00:50:36,240 [theme music concludes] 948 00:50:36,600 --> 00:50:37,600 Greetings, Sharks. 949 00:50:49,640 --> 00:50:51,600 We worked so hard 950 00:50:51,840 --> 00:50:54,480 that the corporate world took the juice out of us! 951 00:50:54,560 --> 00:50:55,760 [laughs] 952 00:50:55,840 --> 00:50:57,080 Speaking of juice, 953 00:50:57,160 --> 00:50:59,800 you feel like drinking something or the other at work. 954 00:51:00,000 --> 00:51:01,720 So, we'd take a soda or cola 955 00:51:01,840 --> 00:51:04,160 from the vending machine or the fridge. 956 00:51:04,400 --> 00:51:06,400 We thought of switching to healthy drinks 957 00:51:06,680 --> 00:51:10,000 and began drinking packaged juices and smoothies 958 00:51:10,120 --> 00:51:13,400 but they had more sugar and preservatives than juice. 959 00:51:14,040 --> 00:51:15,120 Then we thought 960 00:51:15,240 --> 00:51:17,280 since we'd been squeezed dry, 961 00:51:17,400 --> 00:51:19,240 why not make juice for everyone? 962 00:51:19,320 --> 00:51:20,480 The routine wouldn't change 963 00:51:20,560 --> 00:51:22,640 but we could better the quick fix at least! 964 00:51:23,200 --> 00:51:24,080 That was it. 965 00:51:24,160 --> 00:51:26,160 We quit our corporate jobs... 966 00:51:29,080 --> 00:51:30,200 - Ah! - It's fine. 967 00:51:32,640 --> 00:51:36,280 And started Utopian, the ideal drink. 968 00:51:36,400 --> 00:51:39,320 Utopian is a premium mass beverage brand 969 00:51:39,440 --> 00:51:43,360 offering no-preservatives and no-sugar beverages. 970 00:52:02,040 --> 00:52:05,600 Sharks, our products come in 8 flavours. 971 00:52:05,720 --> 00:52:09,440 We sell on both offline and online channels. 972 00:52:09,640 --> 00:52:11,880 The shelf life of our drinks is 6 months 973 00:52:11,960 --> 00:52:15,160 and we've sold over 1 lakh units so far. 974 00:52:15,920 --> 00:52:18,840 We envision to make Utopian not just a beverage brand, 975 00:52:18,920 --> 00:52:21,800 but a complete food and beverage brand 976 00:52:22,000 --> 00:52:25,000 whose name and taste is etched in Indian hearts. 977 00:52:25,080 --> 00:52:27,360 Sharks, let's make an ideal world, 978 00:52:27,440 --> 00:52:29,240 a Utopian world, with good things only. 979 00:52:30,120 --> 00:52:32,800 Abhishek and Shweta, welcome to Shark Tank Season 4. 980 00:52:32,920 --> 00:52:34,040 Thank you so much. 981 00:52:34,120 --> 00:52:35,200 How does it feel to be here? 982 00:52:35,240 --> 00:52:36,160 We're excited. 983 00:52:36,240 --> 00:52:38,720 - Let's end all your excitement. Just wait. - [laughs] 984 00:52:38,960 --> 00:52:41,080 Let's try the products and then, we'll talk. 985 00:52:41,280 --> 00:52:42,320 - Okay, sure. - Absolutely. 986 00:52:43,080 --> 00:52:45,880 The packaging is very similar to Wingreens, right? 987 00:52:45,960 --> 00:52:47,600 You're talking about Raw. 988 00:52:47,680 --> 00:52:48,600 - Raw... - Raw. 989 00:52:48,680 --> 00:52:51,000 - Yes, Wingreens acquired Raw. - Yes. 990 00:52:51,080 --> 00:52:52,080 Same bottle... 991 00:52:52,360 --> 00:52:53,880 - What's this? - Litchi juice. 992 00:52:53,960 --> 00:52:56,320 - Are they all the same? - No, there are other flavours too. 993 00:52:57,400 --> 00:52:59,240 This is our Detox drink. Spinach, cucumber... 994 00:52:59,320 --> 00:53:01,440 I don't want detox now. Tomorrow morning. 995 00:53:02,040 --> 00:53:03,520 - Which flavour is this? - This is Litchi. 996 00:53:03,560 --> 00:53:04,600 - Litchi? - Yes. 997 00:53:05,040 --> 00:53:06,040 Thank you. 998 00:53:09,200 --> 00:53:11,200 Very tasty. Litchi is very nice. 999 00:53:13,400 --> 00:53:14,480 Yuck! 1000 00:53:14,560 --> 00:53:17,560 Why did you pick Spinach when there were others? 1001 00:53:17,640 --> 00:53:19,080 I happened to pick it up. 1002 00:53:19,360 --> 00:53:20,640 [music playing] 1003 00:53:33,440 --> 00:53:34,640 This has an aftertaste. 1004 00:53:34,720 --> 00:53:36,160 - Does it contain 'ashwagandha'? - Yes. 1005 00:53:36,200 --> 00:53:38,480 'Ashwagandha' has a very strong taste. 1006 00:53:40,480 --> 00:53:41,520 Is this a mix? 1007 00:53:41,600 --> 00:53:43,840 Yes, Alphonso mango, oat milk and banana. 1008 00:53:44,160 --> 00:53:45,920 No. Will you charge us for this? 1009 00:53:46,280 --> 00:53:47,400 - No. - Then give it to me. 1010 00:53:47,480 --> 00:53:48,480 [laughs] 1011 00:53:51,520 --> 00:53:53,160 Hey, according to WHO, 1012 00:53:53,240 --> 00:53:56,200 your daily sugar intake should be 24 g. 1013 00:53:56,280 --> 00:53:58,000 This has 25 g of sugar. 1014 00:53:58,240 --> 00:54:00,080 This is a better-for-you product. 1015 00:54:00,160 --> 00:54:02,840 So, just one bottle of this completes my daily intake of sugar! 1016 00:54:02,920 --> 00:54:04,360 For added sugar, that is true. 1017 00:54:04,600 --> 00:54:07,600 The sugar this contains comes from fruits and honey. 1018 00:54:07,680 --> 00:54:10,360 - Doesn't that count in your total sugar? - It does. 1019 00:54:10,440 --> 00:54:13,280 Be it added sugar or fructose, it's still sugar. 1020 00:54:13,360 --> 00:54:15,640 So, you're in the better-for-you, and not the healthy space. 1021 00:54:15,640 --> 00:54:16,960 Yes, better-for-you category. 1022 00:54:17,040 --> 00:54:18,040 Actually, just quickly. 1023 00:54:18,120 --> 00:54:21,120 - I tried all your products. They're good. - Thank you. 1024 00:54:21,240 --> 00:54:23,720 Some say superfoods while others don't. 1025 00:54:23,800 --> 00:54:24,800 - Why is that? - Yes. 1026 00:54:24,880 --> 00:54:26,560 We have two ranges. 1027 00:54:26,640 --> 00:54:28,440 Let's start with our story. 1028 00:54:28,560 --> 00:54:29,920 They've watched too many episodes. 1029 00:54:31,120 --> 00:54:32,720 - So... - You know what will happen, right? 1030 00:54:32,760 --> 00:54:35,520 We'll ask you a few questions about the revenue and P&L. 1031 00:54:35,600 --> 00:54:37,640 Then, he'll ask you about the sales and unit economics. 1032 00:54:37,680 --> 00:54:38,920 - Yes. - Then we'll make a decision. 1033 00:54:38,920 --> 00:54:40,160 Then, you'll make us an offer. 1034 00:54:41,800 --> 00:54:43,760 We'll see about that. 1035 00:54:44,280 --> 00:54:47,760 First of all, as self-aware consumers, 1036 00:54:54,520 --> 00:54:57,160 that its acceptability in India was relatively low. 1037 00:54:57,320 --> 00:55:00,400 So, for example, Spinach, the Detox smoothie 1038 00:55:00,560 --> 00:55:02,240 or Energy, the 'ashwagandha' one. 1039 00:55:02,320 --> 00:55:04,480 When did you launch good-for-you? 1040 00:55:05,000 --> 00:55:07,280 We launched them in August 2023. 1041 00:55:13,760 --> 00:55:14,760 Yes. 1042 00:55:14,920 --> 00:55:20,040 Then, our first corporate tie-up was with Awfis. 1043 00:55:20,160 --> 00:55:21,480 It is a co-working space. 1044 00:55:21,600 --> 00:55:24,200 We launched our smoothies there. 1045 00:55:31,240 --> 00:55:32,880 One, it ought to be tasty. 1046 00:55:33,360 --> 00:55:35,800 Second, they don't want sugar. 1047 00:55:35,880 --> 00:55:38,960 And third, they don't want preservatives. 1048 00:55:39,600 --> 00:55:43,880 So, we launched juices, which is a better-for-you category. 1049 00:55:44,160 --> 00:55:48,640 It was launched in April 2024 with just one flavour Litchi 1050 00:55:48,880 --> 00:55:50,760 and the feedback was amazing. 1051 00:56:01,120 --> 00:56:02,960 - You do this full-time now. - Yes. 1052 00:56:04,040 --> 00:56:06,520 I am from Indore and I did my schooling there. 1053 00:56:06,640 --> 00:56:09,920 I did BTech, Chemical Engineering, from IIT, Mumbai after that. 1054 00:56:12,840 --> 00:56:16,240 After that, I held a corporate job for 9 years in finance. 1055 00:56:16,440 --> 00:56:17,760 - Where? - Deutsche Bank. 1056 00:56:17,840 --> 00:56:18,920 I was in trading. 1057 00:56:19,600 --> 00:56:22,120 Okay. Then you started this in 2020. 1058 00:56:22,200 --> 00:56:23,480 We first experimented 1059 00:56:23,560 --> 00:56:25,720 by making fresh smoothies and others from home. 1060 00:56:25,800 --> 00:56:29,160 - But originally the idea in 2020 was also the same... - Yes. 1061 00:56:29,360 --> 00:56:32,600 - How we could make some sort of drinks. - Some sort of drinks. 1062 00:56:32,720 --> 00:56:35,240 - On average, they cost Rs. 100 or 99, right? - No. 1063 00:56:35,360 --> 00:56:37,520 - No. - The smoothies cost Rs. 100. 1064 00:56:37,720 --> 00:56:39,640 Our price range is Rs. 40 to 99. 1065 00:56:39,720 --> 00:56:42,240 - Have you heard of Paper Boat and Raw? - Yes. 1066 00:56:42,720 --> 00:56:45,440 There is already a history of beverage companies 1067 00:56:45,520 --> 00:56:47,160 and natural juice companies 1068 00:56:47,440 --> 00:56:49,760 that have been trying for many years, right? 1069 00:56:50,600 --> 00:56:51,600 One made it. 1070 00:56:52,240 --> 00:56:54,840 Your packaging reminds me of Raw a little bit, to be honest. 1071 00:56:54,960 --> 00:56:57,200 There's a lot of baggage associated with it though. 1072 00:56:57,440 --> 00:56:59,240 Whether it's successful or not. 1073 00:56:59,320 --> 00:57:00,480 The evidence and data 1074 00:57:00,640 --> 00:57:02,000 show that it probably wouldn't. 1075 00:57:02,120 --> 00:57:04,360 What are you doing differently from them? 1076 00:57:04,960 --> 00:57:09,560 After the pandemic, there exists an awareness towards health. 1077 00:57:09,680 --> 00:57:11,320 When we studied the market, 1078 00:57:11,400 --> 00:57:14,240 we learned that people know 1079 00:57:14,440 --> 00:57:16,880 they don't want a lot of sugar and preservatives. 1080 00:57:17,880 --> 00:57:20,240 Secondly, our distribution strategy. 1081 00:57:20,320 --> 00:57:22,320 Online shipping is very expensive. 1082 00:57:22,440 --> 00:57:24,960 So, we started with offline channels 1083 00:57:25,040 --> 00:57:26,880 and we're building on that. 1084 00:57:27,760 --> 00:57:29,680 - Let me ask the question in a different way. - Sure. 1085 00:57:29,720 --> 00:57:31,600 Suppose I go to a supermarket. 1086 00:57:32,000 --> 00:57:33,960 On their refrigerated shelf, 1087 00:57:34,040 --> 00:57:36,720 I see Raw Pressery and Paper Boat. 1088 00:57:36,800 --> 00:57:38,240 Why would I pick Utopian? 1089 00:57:38,360 --> 00:57:40,680 - There's real juice for Rs. 10. - Tropicana. 1090 00:57:41,640 --> 00:57:44,200 Sir, Real and Tropicana in the Rs. 20... 1091 00:57:44,280 --> 00:57:45,760 We'll talk segment-wise. 1092 00:57:45,840 --> 00:57:48,480 They come in the no preservatives and no sugar variants too 1093 00:57:48,560 --> 00:57:50,080 but they have 1 litre packs. 1094 00:57:50,200 --> 00:57:52,840 So, firstly, they're not available in smaller packs. 1095 00:58:27,800 --> 00:58:29,760 You missed an important piece of fact 1096 00:58:29,840 --> 00:58:31,640 and thought we wouldn't catch it. 1097 00:58:32,760 --> 00:58:34,240 You didn't tell us about Raw Pressery. 1098 00:58:34,520 --> 00:58:35,520 No, Raw... 1099 00:58:35,600 --> 00:58:38,480 For instance, your product is right next to Raw Pressery's. 1100 00:58:38,600 --> 00:58:42,160 I don't quite understand. Just by looking at the packaging, 1101 00:58:42,240 --> 00:58:44,440 why would I pick this over Raw Pressery? 1102 00:58:45,280 --> 00:58:47,360 Firstly, you spoke about supermarkets. 1103 00:58:47,440 --> 00:58:50,440 We're not really starting with supermarkets. 1104 00:58:50,520 --> 00:58:53,880 We are trying to start with general trade. 1105 00:58:55,280 --> 00:58:58,200 'GT and MT, that's General Trade and Modern Trade.' 1106 00:58:58,400 --> 00:59:02,360 'The grocery stores near our homes are referred to as GT' 1107 00:59:02,440 --> 00:59:04,600 'and Modern Trade comprises of big-box retailers' 1108 00:59:04,680 --> 00:59:07,440 'and self-service stores.' 1109 00:59:09,400 --> 00:59:12,480 We mostly sell to A, B and C category stores 1110 00:59:18,040 --> 00:59:20,960 are the 180-ml juice packs priced at Rs. 40 1111 00:59:21,160 --> 00:59:23,520 that generate 90% of our business. 1112 00:59:28,040 --> 00:59:29,360 as they fall in the premium range. 1113 00:59:29,400 --> 00:59:31,800 We want to offer our products at a mass-premium price point 1114 00:59:31,880 --> 00:59:34,200 as better-for-you products, which is a huge gap. 1115 00:59:35,360 --> 00:59:37,240 How much lower can you bring this price point? 1116 00:59:37,320 --> 00:59:41,040 At scale, can it come below Rs. 30 to be able to sell mass-premium? 1117 00:59:41,680 --> 00:59:43,400 The current price point is Rs. 40. 1118 00:59:43,480 --> 00:59:48,000 We could bring it to Rs. 30 but that will take some time. 1119 00:59:48,120 --> 00:59:49,760 It could be done in a few years. 1120 00:59:50,000 --> 00:59:51,600 I want to understand the technology. 1121 00:59:51,680 --> 00:59:53,560 Is it retort or cold retort processing? 1122 00:59:53,640 --> 00:59:54,960 How are you giving it shelf life? 1123 00:59:54,960 --> 00:59:56,280 - We use retort processing. - Hot? 1124 00:59:56,320 --> 00:59:57,320 - Hot retort? - Yes. 1125 01:00:07,680 --> 01:00:11,560 For example, what concerns me is the strawberry and banana... 1126 01:00:11,640 --> 01:00:14,000 You can understand, strawberries and bananas in one product. 1127 01:00:14,000 --> 01:00:16,320 So, what level of food safety are we doing? 1128 01:00:16,400 --> 01:00:18,920 How is the testing happening post-manufacturing? 1129 01:00:19,000 --> 01:00:22,680 We've tested the shelf-life of all the products up to 9 months. 1130 01:00:22,760 --> 01:00:25,160 After that, we launch it for 6 months. 1131 01:00:26,040 --> 01:00:28,600 You're at a price point of Rs. 40 in GT. 1132 01:00:29,160 --> 01:00:32,200 What other brands sell in the range of Rs. 30 to 50? 1133 01:00:33,160 --> 01:00:36,480 At a Rs. 20 price point, we have Tropicana and Paper Boat. 1134 01:00:36,560 --> 01:00:38,160 All the juices are priced at Rs. 20. 1135 01:00:38,360 --> 01:00:39,560 But yours is Rs. 40. 1136 01:00:40,400 --> 01:00:41,680 Ours is Rs. 40 1137 01:00:41,760 --> 01:00:45,600 - because the quality... - It means the customer needs to be aware 1138 01:00:45,760 --> 01:00:48,000 that this product is materially healthier. 1139 01:00:48,080 --> 01:00:49,080 Slightly aware, yes. 1140 01:00:49,640 --> 01:00:53,280 We're writing no refined sugar and no preservatives on the packs. 1141 01:00:53,400 --> 01:00:57,600 What is the price point of their no-sugar and preservative products? 1142 01:01:07,440 --> 01:01:09,080 Which might be a potential problem for you. 1143 01:01:09,080 --> 01:01:10,800 This is a big sweet spot 1144 01:01:10,920 --> 01:01:12,600 because Indian consumers 1145 01:01:12,680 --> 01:01:14,320 are becoming increasingly health conscious 1146 01:01:14,360 --> 01:01:16,600 and they are okay to pay a little bit of premium. 1147 01:01:16,720 --> 01:01:18,320 - I think this is a sweet spot... - Yes. 1148 01:01:18,400 --> 01:01:19,440 But in the right channel. 1149 01:01:20,120 --> 01:01:22,360 Had you launched this on quick commerce, 1150 01:01:22,600 --> 01:01:25,040 you'd have sold a lot of units even at Rs. 40 or 50. 1151 01:01:25,120 --> 01:01:27,360 GT has a high price sensitivity. 1152 01:01:29,000 --> 01:01:30,320 Why didn't you get listed on quick commerce? 1153 01:01:30,360 --> 01:01:32,360 We're about to be listed on it. 1154 01:01:36,800 --> 01:01:39,000 None of these are detox ingredients. 1155 01:01:40,280 --> 01:01:41,720 How's this detox? 1156 01:01:42,720 --> 01:01:46,000 - This is still better-for-you... - No. Why is it better-for-you? 1157 01:01:46,080 --> 01:01:47,800 - It has no added sugar. - Or preservatives. 1158 01:01:47,880 --> 01:01:50,000 How does no sugar make it detox? 1159 01:01:50,680 --> 01:01:53,400 We gave it that name for the nostalgia. 1160 01:01:53,520 --> 01:01:54,880 - I'm from health care. - Yes. 1161 01:01:54,960 --> 01:01:56,880 So, I take these claims very seriously. 1162 01:01:56,960 --> 01:01:57,960 - Yes. - Okay? 1163 01:01:58,040 --> 01:01:59,720 - This is just juice. - Hmm. 1164 01:01:59,800 --> 01:02:02,200 You can't call this detox. 1165 01:02:02,280 --> 01:02:03,600 This doesn't have detox ingredients! 1166 01:02:03,640 --> 01:02:05,680 - It has nothing to do with detox. - Come on! 1167 01:02:05,760 --> 01:02:08,800 - It's just for nostalgia... - Of what exactly? 1168 01:02:08,880 --> 01:02:12,280 Nostalgia comes from 'kanji' and not the word "detox"! 1169 01:02:12,360 --> 01:02:15,040 Your nostalgia is problematic for the consumer! 1170 01:02:15,160 --> 01:02:16,600 No, this is not right. 1171 01:02:17,640 --> 01:02:19,720 It's misleading the consumer. 1172 01:02:19,800 --> 01:02:21,520 - 100%. - I've been reading the label for so long. 1173 01:02:21,520 --> 01:02:22,800 "Am I missing something?" 1174 01:02:22,880 --> 01:02:25,320 Yet I continued reading it. It has no detox properties. 1175 01:02:25,400 --> 01:02:26,600 It is a claim zone. 1176 01:02:26,720 --> 01:02:28,800 - Claim... - Oh, no! This is crazy. 1177 01:02:29,680 --> 01:02:32,760 - That's why you omitted the E in "detox". - Yes. 1178 01:02:32,840 --> 01:02:35,320 - D-tox is... - But that is absolutely wrong, bro! 1179 01:02:35,400 --> 01:02:36,800 - I know! I'm not... - It means... Yes. 1180 01:02:36,880 --> 01:02:38,240 I am not condoning it. 1181 01:02:38,320 --> 01:02:39,520 Namita, good point. 1182 01:02:41,560 --> 01:02:43,800 You're selling something else in the name of detox! 1183 01:02:44,800 --> 01:02:47,440 - Coming to immunity. Does this even... - Yes, it does. 1184 01:02:47,720 --> 01:02:50,040 - This contains 'tulsi' and 'amla'. - Tulsi and amla. 1185 01:02:50,120 --> 01:02:51,160 It has good ingredients. 1186 01:02:51,240 --> 01:02:53,120 - They are functional beverages. - Unbelievable! 1187 01:02:54,920 --> 01:02:56,080 Abhishek! Shweta! 1188 01:02:56,600 --> 01:02:58,120 Unfortunately, I'm out. 1189 01:03:00,280 --> 01:03:01,640 I don't even want to know your numbers. 1190 01:03:01,680 --> 01:03:05,320 Your use case, brand positioning is all out of place. 1191 01:03:06,080 --> 01:03:07,520 I'm really worried. 1192 01:03:07,600 --> 01:03:11,000 You mentioned detox but that was all false. 1193 01:03:11,160 --> 01:03:14,680 Unfortunately, you have a very confused brand positioning 1194 01:03:14,760 --> 01:03:16,320 and vision. 1195 01:03:19,040 --> 01:03:20,360 [solemn music playing] 1196 01:03:21,560 --> 01:03:24,080 I'm really interested to know where your numbers are coming from. 1197 01:03:24,080 --> 01:03:26,360 - Your GT strategy... - As clear as juice! 1198 01:03:26,480 --> 01:03:28,360 Yes, as clear as day! 1199 01:03:29,280 --> 01:03:33,920 This year April onwards, our sales were Rs. 29.15 lakhs. 1200 01:03:34,280 --> 01:03:36,080 Coming to the last three months. 1201 01:03:36,160 --> 01:03:38,480 In September, we did Rs. 4.50 lakhs, 1202 01:03:38,560 --> 01:03:40,680 Rs. 6.43 lakhs in October 1203 01:03:40,760 --> 01:03:43,680 and Rs. 7 lakhs in November. 1204 01:03:43,800 --> 01:03:45,520 What was the loss in November? 1205 01:03:46,200 --> 01:03:48,120 Our loss in November was Rs. 9 lakhs. 1206 01:03:48,240 --> 01:03:50,160 Have you raised funds or invested your own money? 1207 01:03:50,240 --> 01:03:51,800 We've raised funds. 1208 01:03:51,880 --> 01:03:54,080 From whom, how much and when? 1209 01:03:54,160 --> 01:03:57,240 We received a grant of Rs. 9.5 lakhs from the government. 1210 01:03:57,320 --> 01:04:00,520 Darn! Everybody is... What is with the Indian government? 1211 01:04:00,680 --> 01:04:01,920 Where did you apply? 1212 01:04:02,080 --> 01:04:04,640 Everyone has got grants. Where do you get it from? 1213 01:04:04,760 --> 01:04:07,040 You won't get it. Sit back. 1214 01:04:07,120 --> 01:04:08,840 - Won't I get it? - No. Sit back. 1215 01:04:08,960 --> 01:04:11,080 Let me know later on. But which grant did you get? 1216 01:04:11,160 --> 01:04:12,360 Nidhi Prayas. 1217 01:04:15,320 --> 01:04:17,400 [indistinct] 1218 01:04:17,480 --> 01:04:21,720 After that, we raised funding of Rs 95 lakhs from friends and family 1219 01:04:22,280 --> 01:04:23,800 in October 2022. 1220 01:04:23,880 --> 01:04:26,480 It was on a pre-money valuation of Rs 10 crores. 1221 01:04:26,880 --> 01:04:29,320 Also, we've got Rs 30 lakhs OCD 1222 01:04:29,440 --> 01:04:32,320 from the Startup India Seed Fund. 1223 01:04:36,080 --> 01:04:38,000 on a pre-money valuation of Rs 20 crores. 1224 01:04:38,120 --> 01:04:40,120 A part of the funds are already with us. 1225 01:04:40,200 --> 01:04:41,440 The rest are yet to be received. 1226 01:04:41,480 --> 01:04:42,640 Who is investing this money? 1227 01:04:43,640 --> 01:04:45,040 They're our friends and family. 1228 01:04:50,040 --> 01:04:51,240 How much cash do you have in your bank? 1229 01:04:51,280 --> 01:04:53,360 As of the end of November, we have Rs 4 lakhs. 1230 01:04:53,480 --> 01:04:54,920 But the funds are yet to be received. 1231 01:04:56,240 --> 01:04:57,560 Has it yet to be received, or have you received it? 1232 01:04:57,560 --> 01:05:00,760 Some friends and family members have committed it to us. 1233 01:05:00,840 --> 01:05:02,480 They will transfer when I ask them to. 1234 01:05:02,560 --> 01:05:03,880 It should close this month. 1235 01:05:05,280 --> 01:05:09,160 Abhishek and Shweta, I am quite worried, to be honest. 1236 01:05:09,760 --> 01:05:12,120 My bar of worry is high. 1237 01:05:12,400 --> 01:05:15,760 I am worried because the two of you are talented. 1238 01:05:15,840 --> 01:05:18,040 But this business is not on track currently. 1239 01:05:18,160 --> 01:05:20,280 It's crucial for you to realise that. 1240 01:05:20,800 --> 01:05:24,000 All those around you see potential in you 1241 01:05:24,120 --> 01:05:26,360 because of your past track record. 1242 01:05:26,440 --> 01:05:27,920 That's why they are giving you money. 1243 01:05:28,000 --> 01:05:29,960 But that is also a responsibility. 1244 01:05:30,040 --> 01:05:33,080 You've taken Rs 3 crores from your friends and family. 1245 01:05:33,200 --> 01:05:34,680 You have taken a grant. 1246 01:05:34,840 --> 01:05:36,640 It could've helped another startup, as well. 1247 01:05:37,480 --> 01:05:40,960 So, build this business with a sense of responsibility. 1248 01:05:41,040 --> 01:05:43,200 Also, when you're raising money from people, 1249 01:05:43,360 --> 01:05:44,920 reflect on it once again. 1250 01:05:48,520 --> 01:05:50,160 Can you generate returns? 1251 01:05:50,240 --> 01:05:52,160 Can you build a thriving business? 1252 01:05:52,440 --> 01:05:55,600 There are no such signs in this business for now. 1253 01:05:56,000 --> 01:05:59,480 My goal is not to demotivate you. I want to channelise you. 1254 01:05:59,680 --> 01:06:03,560 Channelise your talents, energy and intelligence. 1255 01:06:03,680 --> 01:06:05,840 Either find another product in this space 1256 01:06:05,920 --> 01:06:09,600 or pivot into some other business. Look for another opportunity. 1257 01:06:09,680 --> 01:06:13,400 Nobody has said that only juice brands can succeed. 1258 01:06:14,280 --> 01:06:16,360 I wish you all the best, guys. I am out of it today. 1259 01:06:16,480 --> 01:06:17,480 Yes, shark. 1260 01:06:24,120 --> 01:06:26,000 We advise them correctly, 1261 01:06:26,080 --> 01:06:28,080 or what we feel is appropriate. 1262 01:06:28,600 --> 01:06:31,760 It is time to do something else. 1263 01:06:31,880 --> 01:06:35,880 At Rs 4 lakhs a month, this product is not fit for the market. 1264 01:06:36,240 --> 01:06:39,200 I didn't like the word detox. It's misleading. 1265 01:06:39,280 --> 01:06:42,080 It shows clearly as it's not translating in sales, either. 1266 01:06:42,200 --> 01:06:43,760 To make you feel better, let me give you 1267 01:06:43,840 --> 01:06:45,560 a couple of examples that will shock you. 1268 01:06:45,640 --> 01:06:48,600 Do you know that YouTube used to be a dating app? 1269 01:06:48,760 --> 01:06:50,320 Then, it became what it is. 1270 01:06:50,400 --> 01:06:53,400 Slack, the biggest corporate communication app, 1271 01:06:53,520 --> 01:06:55,720 - used to be a gaming app. - Yes. 1272 01:06:55,800 --> 01:06:58,160 The reason they are so successful now 1273 01:06:58,280 --> 01:07:00,840 is because of the founders. At the right time, 1274 01:07:00,960 --> 01:07:03,880 they realised that the product was not fit for the market. 1275 01:07:03,960 --> 01:07:06,240 They were detached enough 1276 01:07:06,320 --> 01:07:09,000 to switch to something else. 1277 01:07:09,120 --> 01:07:10,440 So, this is my honest feedback. 1278 01:07:10,560 --> 01:07:12,160 Especially because I am from healthcare, 1279 01:07:12,240 --> 01:07:14,880 and words like detox are gimmicks these days. 1280 01:07:15,200 --> 01:07:17,600 There is no product market fit. 1281 01:07:17,680 --> 01:07:18,960 Try something else. 1282 01:07:19,120 --> 01:07:21,040 - Okay? - Sure, ma'am. - But for today, I am out. 1283 01:07:22,600 --> 01:07:26,480 I tried convincing myself to invest. I love this space. 1284 01:07:26,600 --> 01:07:29,680 After getting rid of 1285 01:07:29,760 --> 01:07:31,560 D-Tox and D-Light, 1286 01:07:35,040 --> 01:07:38,040 it means if your sale per day comes up to Rs 1 lakh, 1287 01:07:38,120 --> 01:07:39,400 please get in touch with me. 1288 01:07:39,480 --> 01:07:41,840 I would like to participate. Right now, 1289 01:07:42,800 --> 01:07:45,920 it's weird for me to invest when it is Rs 4 lakhs. 1290 01:07:46,080 --> 01:07:48,520 - As of now, I am out. - Sure, sir. 1291 01:07:49,240 --> 01:07:50,960 - Have you watched Shark Tank before? - Yes. 1292 01:07:51,080 --> 01:07:54,520 So, you were clear that after saying 'Good things only', 1293 01:07:54,600 --> 01:07:56,640 you would have to give the details. You knew what would happen. 1294 01:07:56,680 --> 01:07:57,880 Then, why did you still do it? 1295 01:07:58,600 --> 01:07:59,880 You must've also seen me saying 1296 01:07:59,960 --> 01:08:02,120 that beverage companies are headed to a crematorium. 1297 01:08:02,240 --> 01:08:03,400 - Yes. - Isn't it? 1298 01:08:03,480 --> 01:08:05,960 You've come up with the same model without any differentiation. 1299 01:08:06,960 --> 01:08:09,760 You only have one opportunity. 1300 01:08:09,880 --> 01:08:11,560 Do you know what has changed in the last five years? 1301 01:08:11,600 --> 01:08:15,120 You said many things had changed, and people were more aware. 1302 01:08:15,200 --> 01:08:17,240 What is the fundamental shift that has taken place 1303 01:08:17,520 --> 01:08:19,040 that can build your business? 1304 01:08:19,280 --> 01:08:20,440 That is quick commerce. 1305 01:08:21,080 --> 01:08:22,360 But you are in the offline market. 1306 01:08:22,400 --> 01:08:24,320 You're a part of the same crowd 1307 01:08:24,400 --> 01:08:26,080 where everyone is. People have failed there 1308 01:08:26,600 --> 01:08:29,080 despite investing hundreds of crores. 1309 01:08:29,160 --> 01:08:32,520 Yet you're taking money from your friends. You want to invest 1310 01:08:32,880 --> 01:08:35,960 Rs 2 crores in something in which people have invested Rs 200 crores. 1311 01:08:36,240 --> 01:08:38,520 We are also getting listed on quick commerce. 1312 01:08:38,600 --> 01:08:42,360 But after investing so much money, your game is over! 1313 01:08:42,960 --> 01:08:45,080 What will you do after listing with those Rs 2 crores? 1314 01:08:45,120 --> 01:08:46,040 You can't do much. 1315 01:08:46,120 --> 01:08:49,040 You are getting money because of your qualifications and background. 1316 01:08:49,400 --> 01:08:50,560 But that is not right. 1317 01:08:50,640 --> 01:08:54,160 If you want to enter a market which is already in ruins, 1318 01:08:57,240 --> 01:08:58,840 When I was young, my mom 1319 01:08:58,920 --> 01:09:00,440 used to call me stubborn. 1320 01:09:01,560 --> 01:09:03,760 What's the difference between being stubborn and being determined? 1321 01:09:03,800 --> 01:09:05,400 A stubborn man never tries to understand. 1322 01:09:05,560 --> 01:09:08,160 Don't be stubborn. Be determined. 1323 01:09:08,240 --> 01:09:11,600 But find the way that will take you to success. Stop burning others. 1324 01:09:12,120 --> 01:09:13,360 I'm out. Good luck. 1325 01:09:14,760 --> 01:09:16,400 - Thank you. - Thank you, guys. 1326 01:09:16,480 --> 01:09:18,760 - All sharks are out. All the best. - All the best. - Thank you. 1327 01:09:18,760 --> 01:09:19,800 Bye, have fun. 1328 01:09:19,920 --> 01:09:23,120 Thank you. The conversation was different with the judges. 1329 01:09:23,240 --> 01:09:25,720 However, our customers have showered love on us. 1330 01:09:26,000 --> 01:09:28,200 We're already available in many stores. 1331 01:09:28,280 --> 01:09:29,720 We're doing extremely well. 1332 01:09:29,800 --> 01:09:32,320 So, we're confident about making a good brand out of this. 1333 01:09:32,400 --> 01:09:34,480 People want products 1334 01:09:34,600 --> 01:09:37,680 which can interest them and keep them energised. 1335 01:09:37,760 --> 01:09:39,880 More healthier alternatives are desired. 1336 01:09:39,960 --> 01:09:42,280 So, I don't think there is any looking back to this. 1337 01:09:44,760 --> 01:09:46,600 'Acko welcomes change.' 1338 01:09:50,440 --> 01:09:51,960 Welcome to Acko change makers, 1339 01:09:52,040 --> 01:09:53,600 where we welcome change. 1340 01:09:53,680 --> 01:09:57,120 We saw a beautiful portrayal of change on our change-maker's wall. 1341 01:09:57,520 --> 01:09:59,000 With a forward-looking vision, 1342 01:09:59,080 --> 01:10:02,080 we're bringing inclusivity to health and fitness. 1343 01:10:02,560 --> 01:10:05,360 Today's change makers are Shweta and Abhishek. 1344 01:10:05,960 --> 01:10:07,520 - How are you? - Great. 1345 01:10:08,840 --> 01:10:11,120 It was excellent. We learned something new. 1346 01:10:11,200 --> 01:10:14,440 That's great. I want you to suggest to our audience 1347 01:10:14,520 --> 01:10:18,160 some changes they can make in their daily lives 1348 01:10:18,240 --> 01:10:20,280 to help them live healthier lives. 1349 01:10:20,360 --> 01:10:24,320 Sure! We always recommend everyone 1350 01:10:24,400 --> 01:10:26,400 start 1351 01:10:26,480 --> 01:10:28,440 consuming fruits. 1352 01:10:28,560 --> 01:10:30,400 Try to inculcate as many as you can. 1353 01:10:30,480 --> 01:10:32,200 Eat as many fruits as you can daily. 1354 01:10:32,280 --> 01:10:36,440 A little exercise is crucial. Nothing can be done without it. 1355 01:10:36,520 --> 01:10:39,640 A 30-minute walk is also enough. 1356 01:10:39,720 --> 01:10:43,360 Try to eat home-cooked food. 1357 01:10:43,600 --> 01:10:45,760 Utopian is there, if not anything else. 1358 01:10:45,840 --> 01:10:48,720 - Sure. - It means I am doing all three things wrong. 1359 01:10:48,800 --> 01:10:50,000 [laughing] 1360 01:10:50,120 --> 01:10:51,640 My problem is laziness. 1361 01:10:52,160 --> 01:10:54,240 - I am failing at it because of laziness. - Okay. 1362 01:10:54,320 --> 01:10:56,080 But you've brought about exceptional change. 1363 01:10:56,160 --> 01:10:58,600 Similarly, Acko is changing the insurance landscape 1364 01:10:58,680 --> 01:11:00,720 with its revolutionary offers. 1365 01:11:00,840 --> 01:11:02,680 Don't let random agents fool you now. 1366 01:11:02,840 --> 01:11:05,680 Know your insurer. Trust Acko. 1367 01:11:05,880 --> 01:11:07,760 It is the trusted choice of thousands of Indians 1368 01:11:07,800 --> 01:11:10,040 and has settled more than 3 lakh car claims. 1369 01:11:10,200 --> 01:11:13,560 We want to appreciate your change and the time you gave to Shark Tank. 1370 01:11:13,640 --> 01:11:16,760 So, we want to give you a gift on behalf of Shark Tank and Acko. 1371 01:11:20,720 --> 01:11:21,800 Thank you. 1372 01:11:21,880 --> 01:11:23,520 [camera shutter clicking] 1373 01:11:24,320 --> 01:11:27,240 Shark Tank India, co-presented by Acko Insurance, 1374 01:11:27,320 --> 01:11:29,400 PokerBaazi and Swiggy Instamart, 1375 01:11:29,480 --> 01:11:32,120 co-powered by Adani and Jaquar Bath and Light, 1376 01:11:32,240 --> 01:11:35,240 and partners Rayzon Solar, ICICI Direct, 1377 01:11:35,320 --> 01:11:37,000 Lenskart and Sofy. 1378 01:11:48,400 --> 01:11:51,120 Here, we talk to those pitchers 1379 01:11:51,240 --> 01:11:54,000 who have succeeded due to their hustle and drive. 1380 01:11:54,080 --> 01:11:57,000 They've made us all proud 1381 01:11:57,120 --> 01:12:00,520 by raising themselves from the stage of Shark Tank. 1382 01:12:00,600 --> 01:12:04,000 So, let's see what their journey was like. 1383 01:12:11,920 --> 01:12:14,560 'Our vision is to be India's top five' 1384 01:12:14,640 --> 01:12:17,040 'spice players in the next five years.' 1385 01:12:17,120 --> 01:12:18,520 'We demand for' 1386 01:12:18,600 --> 01:12:22,040 'Rs 1 crore for 0.5 per cent equity of our company.' 1387 01:12:22,160 --> 01:12:25,160 'How did you dare to enter such a cluttered market?' 1388 01:12:25,240 --> 01:12:26,160 'Who is the CEO?' 1389 01:12:26,280 --> 01:12:28,480 'We've not thought about having a CEO yet, ma'am.' 1390 01:12:28,560 --> 01:12:31,000 'How can you not think about it? Who will the investor talk to?' 1391 01:12:31,040 --> 01:12:34,240 'You're here for marketing and nothing else.' 1392 01:12:34,320 --> 01:12:35,920 'I am here for expertise.' 1393 01:12:36,000 --> 01:12:40,760 'Rs 1 crore for 1.25 per cent. It's the final offer. Yes or no?' 1394 01:12:40,840 --> 01:12:41,680 'Deal done, sir.' 1395 01:12:41,800 --> 01:12:43,640 - 'Yes! - Woah!' 1396 01:12:44,480 --> 01:12:45,520 [camera shutter clicking] 1397 01:12:47,080 --> 01:12:49,840 The ones sitting with us today are, in my opinion, the king of spices, 1398 01:12:49,920 --> 01:12:52,720 the founders of Zoff, Ashish and Akash. How are you? 1399 01:12:52,840 --> 01:12:53,680 Great! 1400 01:12:53,760 --> 01:12:57,480 Firstly, where were you when Shark Tank was aired? 1401 01:12:57,560 --> 01:12:59,120 When Shark Tank aired, 1402 01:12:59,200 --> 01:13:01,720 I was watching it with my father and friends. 1403 01:13:01,800 --> 01:13:03,840 I had invited around 50 of my friends. 1404 01:13:03,960 --> 01:13:06,680 We wanted to celebrate our first time on the TV. 1405 01:13:06,760 --> 01:13:08,120 How could we have done that without our friends? 1406 01:13:08,120 --> 01:13:10,520 Did you sense at that time that it was going well? 1407 01:13:10,600 --> 01:13:13,320 I believe the founder's guts run any business. 1408 01:13:13,400 --> 01:13:15,760 You could take ten steps for your business. 1409 01:13:15,840 --> 01:13:17,560 You cannot do anything else apart from that. 1410 01:13:17,640 --> 01:13:19,680 Look. I am asking this to learn from you. 1411 01:13:19,760 --> 01:13:21,360 When we saw the pitch, 1412 01:13:21,480 --> 01:13:24,520 the question arose of who would be the go-to person for discussions. 1413 01:13:24,640 --> 01:13:27,720 So, we thought a CEO must be necessary. 1414 01:13:27,840 --> 01:13:29,920 Established companies need CEOs. 1415 01:13:30,000 --> 01:13:31,640 In our business, 1416 01:13:31,720 --> 01:13:34,480 let alone now, we won't need a CEO 1417 01:13:34,600 --> 01:13:37,440 until our company stabilises with a sale of Rs 1000 crores. 1418 01:13:37,520 --> 01:13:39,720 Both of us are capable. Our work is divided. 1419 01:13:39,800 --> 01:13:41,440 How does it matter if we go wrong with one or two things? 1420 01:13:41,480 --> 01:13:43,400 - Everyone rectifies their mistakes. - It's a journey. 1421 01:13:43,440 --> 01:13:46,400 It's a journey. We built this business with our passion. 1422 01:13:46,480 --> 01:13:48,320 We've built it with our risk-taking abilities. 1423 01:13:48,400 --> 01:13:51,120 Our father's money supported us, for sure. 1424 01:13:51,200 --> 01:13:52,400 But this is a restart. 1425 01:13:52,520 --> 01:13:56,320 He believes we learnt a lot from the money he invested. 1426 01:13:56,400 --> 01:14:00,280 It will help us grow our company in the future. 1427 01:14:00,400 --> 01:14:02,960 Has your family's support 1428 01:14:03,040 --> 01:14:05,080 increased with time? 1429 01:14:05,160 --> 01:14:06,720 - Father helped us first. - Yes. 1430 01:14:06,800 --> 01:14:09,440 When we started out, people thought we destroyed the company. 1431 01:14:09,520 --> 01:14:12,400 After the Shark Tank episode aired, people realised our level. 1432 01:14:12,480 --> 01:14:15,160 Our city has started respecting us deeply. 1433 01:14:15,240 --> 01:14:17,880 Zoff is a different name because of Shark Tank. 1434 01:14:17,960 --> 01:14:19,800 Ours is a traditional category. 1435 01:14:19,880 --> 01:14:21,520 There is a theory called Blue Ocean-Red Ocean. 1436 01:14:21,560 --> 01:14:24,120 In the red ocean, all the players 1437 01:14:24,200 --> 01:14:26,520 are running the same business and fighting with each other. 1438 01:14:26,520 --> 01:14:29,040 The other is a blue ocean with limited players. 1439 01:14:29,160 --> 01:14:30,640 To create a big business, 1440 01:14:30,760 --> 01:14:34,120 do something with fewer people and competition. 1441 01:14:34,200 --> 01:14:35,800 We've tried so many new things. 1442 01:14:35,920 --> 01:14:40,360 - When everyone sold in stores, we started selling online. - Yes. 1443 01:14:40,440 --> 01:14:42,880 Now that we're going offline, we're being respected, 1444 01:14:42,960 --> 01:14:44,360 and our sales are increasing. 1445 01:14:44,440 --> 01:14:46,720 45 per cent of our business is from whole spices. 1446 01:14:46,800 --> 01:14:49,320 After one year, you will see 1447 01:14:49,440 --> 01:14:50,600 people equating whole spices with Zoff. 1448 01:14:50,640 --> 01:14:54,160 How big is the spice market? Also, how big is it online? 1449 01:14:54,280 --> 01:14:55,760 The spice market is Rs 1 lakh crores. 1450 01:14:55,840 --> 01:14:57,640 Of that, Rs 65,000 crores market is in India, 1451 01:14:57,720 --> 01:14:59,520 and the remaining is being exported. 1452 01:14:59,600 --> 01:15:00,800 Out of the Rs 65,000 crores, 1453 01:15:00,880 --> 01:15:02,640 Rs 25,000 crores is the branded market. 1454 01:15:02,720 --> 01:15:05,680 The remaining Rs 40,000 crores is unorganised market. 1455 01:15:05,760 --> 01:15:07,960 - The one being sold loose? - Let me tell you about that. 1456 01:15:08,000 --> 01:15:10,840 Of what's being sold loose, around 70-80 per cent are whole spices. 1457 01:15:10,920 --> 01:15:13,680 Many branded players must think 1458 01:15:13,760 --> 01:15:15,400 of Zoff as their competition. 1459 01:15:15,480 --> 01:15:16,920 Let me tell you. We are not their competition. 1460 01:15:16,960 --> 01:15:18,120 You are in those unorganised. 1461 01:15:18,160 --> 01:15:19,680 We're trying to make our place there. 1462 01:15:19,760 --> 01:15:22,200 I am trying to enter the growing market. 1463 01:15:22,320 --> 01:15:24,840 What are your recent numbers, as compared to before? 1464 01:15:24,920 --> 01:15:26,280 When we came on Shark Tank, 1465 01:15:26,400 --> 01:15:28,480 our online business was Rs 4.5 crores. 1466 01:15:28,640 --> 01:15:30,320 Now, our online business is worth Rs 9 crores. 1467 01:15:30,320 --> 01:15:33,320 - Wow! - We're easily one of the top three online players in India. 1468 01:15:33,400 --> 01:15:36,320 Go to any quick commerce or E-commerce. 1469 01:15:36,400 --> 01:15:37,480 We're present there. 1470 01:15:37,600 --> 01:15:39,200 The consumer likes our product. 1471 01:15:39,320 --> 01:15:40,920 Consumers consider our product 1472 01:15:41,040 --> 01:15:43,760 to be a new-age product. Everyone likes it. 1473 01:15:43,840 --> 01:15:46,360 Since we came to Shark Tank, people have started believing 1474 01:15:46,440 --> 01:15:48,240 we could be the next MDH. 1475 01:15:48,360 --> 01:15:50,800 What is your future plan for Zoff? 1476 01:15:50,880 --> 01:15:54,080 We will focus on the whole spices. We've also entered seasoning. 1477 01:15:54,160 --> 01:15:57,280 Seasoning is the top product for Gen Zs and Millennials. 1478 01:15:57,360 --> 01:15:59,280 Chilli flakes, oregano, 'piri piri' mix, and so on. 1479 01:15:59,320 --> 01:16:01,280 Also, we're working on ready-to-cook. 1480 01:16:01,360 --> 01:16:04,400 We're making a product which doesn't need to be cooked. 1481 01:16:04,480 --> 01:16:07,360 Adding our product in hot water will make your choice of gravy. 1482 01:16:07,520 --> 01:16:10,680 Can you tell us any valuable advice from Shark Tank 1483 01:16:10,760 --> 01:16:12,360 which has helped you? 1484 01:16:12,440 --> 01:16:14,560 Aman sir called us after Shark Tank. 1485 01:16:14,640 --> 01:16:16,200 'I can help you. Do you need help?' 1486 01:16:16,280 --> 01:16:19,720 'If you're facing issues in your business, I'm ready to help you.' 1487 01:16:19,800 --> 01:16:21,640 We asked him to help us enter two platforms. 1488 01:16:21,720 --> 01:16:23,880 We will do well. 1489 01:16:24,000 --> 01:16:26,560 - I took Rs 1 crore from Shark Tank at that time. - Yes. 1490 01:16:26,640 --> 01:16:29,200 With Aman sir's help, we reached a valuation of 1491 01:16:29,280 --> 01:16:31,120 - Rs 50 crores in 1.5 years. - Wow! 1492 01:16:31,360 --> 01:16:34,120 It's not about the money he gave me. 1493 01:16:34,200 --> 01:16:36,440 What values is his power and experience, 1494 01:16:36,520 --> 01:16:38,280 and how much did he help us? 1495 01:16:38,400 --> 01:16:40,920 More than 2 million customers 1496 01:16:41,000 --> 01:16:43,080 have tried Zoff through different platforms. 1497 01:16:43,160 --> 01:16:46,120 - Wow! - Our base is increasing. Believe me. 1498 01:16:46,480 --> 01:16:48,720 Today, our online journey, 1499 01:16:48,800 --> 01:16:50,920 85 per cent sales are from online platforms. 1500 01:16:51,000 --> 01:16:52,440 In the coming three years, 1501 01:16:52,520 --> 01:16:55,320 our offline business will grow even more rapidly. 1502 01:16:55,400 --> 01:16:58,280 We will become an omnichannel brand, which is the demand of this age. 1503 01:16:58,400 --> 01:17:02,240 Funding-wise, did you accept more funds after that? Or do you plan to? 1504 01:17:02,320 --> 01:17:04,440 We recently accepted Rs 40 crores from JM Financial. 1505 01:17:04,560 --> 01:17:06,400 - Valuation? - Around Rs 300 crores. 1506 01:17:06,480 --> 01:17:08,440 They are ESOPs and share returns. 1507 01:17:08,520 --> 01:17:10,600 But it comes up to Rs 250 crores to Rs 300 crores. 1508 01:17:10,720 --> 01:17:13,120 Within 16 months, we will get a valuation of Rs 1000 crores. 1509 01:17:13,240 --> 01:17:15,160 - 16 months? - 16 months. 1510 01:17:15,240 --> 01:17:19,120 - Wow! - If my run rate is 11 today, 1511 01:17:19,320 --> 01:17:21,400 I can guarantee if you call me 1512 01:17:21,480 --> 01:17:23,320 for the next Shark Tank, my sales will be Rs 25 crores. 1513 01:17:23,360 --> 01:17:25,200 I am on Shark Tank's success story. 1514 01:17:25,280 --> 01:17:28,680 So, next year, the 16th month will make it double. 1515 01:17:28,760 --> 01:17:30,320 I have a tagline for you both. 1516 01:17:30,400 --> 01:17:32,000 'Two brothers, and both are demolishers.' 1517 01:17:32,760 --> 01:17:35,640 - Ashish and Akash, I enjoyed talking to you both. - Thank you. 1518 01:17:35,720 --> 01:17:39,000 Your journey is truly inspiring. 1519 01:17:39,080 --> 01:17:40,840 You came from a traditional background. 1520 01:17:40,920 --> 01:17:42,280 Your competitors 1521 01:17:42,360 --> 01:17:46,240 are leading the same traditional space. 1522 01:17:59,720 --> 01:18:02,440 I welcome you both to our Adani Hall of Achievements. 1523 01:18:02,520 --> 01:18:06,400 We call those founders here whose success stories we want to capture. 1524 01:18:06,520 --> 01:18:09,440 Tell me, how does looking at these moments feel? 1525 01:18:09,560 --> 01:18:11,720 It was a nostalgic and emotional moment. 1526 01:18:11,800 --> 01:18:13,920 We came here as contestants two years ago. 1527 01:18:14,000 --> 01:18:15,360 Today, we've come as a success story. 1528 01:18:15,360 --> 01:18:18,400 What can be more encouraging for a founder 1529 01:18:18,680 --> 01:18:20,000 than his success being praised. 1530 01:18:20,080 --> 01:18:22,880 Definitely! You've returned home. We're glad you're here. 1531 01:18:23,000 --> 01:18:25,240 We want to appreciate your go-getter attitude 1532 01:18:25,320 --> 01:18:28,800 on behalf of Adani by giving you a gift. 1533 01:18:32,080 --> 01:18:33,080 Thank you. 1534 01:18:38,600 --> 01:18:42,280 Akash and Ashish, my brothers! How are you? 1535 01:18:42,480 --> 01:18:44,520 - Great! - How does it feel to be back? 1536 01:18:44,600 --> 01:18:47,280 It has refreshed our memories. We've become emotional. 1537 01:18:47,360 --> 01:18:49,680 Your valuation was Rs 80 crores when you entered. 1538 01:18:49,800 --> 01:18:52,400 - What is it now? - It has exceeded Rs 250 crores. 1539 01:18:52,520 --> 01:18:54,720 Rs 250 crores? Excellent! What's next? 1540 01:18:54,800 --> 01:18:56,080 What's the next milestone? 1541 01:18:56,200 --> 01:18:58,440 We want the company to be worth Rs 1000 crores within 1.5 years. 1542 01:18:58,440 --> 01:18:59,720 Is quick commerce going well? 1543 01:18:59,840 --> 01:19:01,760 - It's great. - Work on the brand now. 1544 01:19:01,880 --> 01:19:04,760 The zoff campaign is underway. We've made it quirky. 1545 01:19:04,840 --> 01:19:07,800 If that clicks, what you said about branding will be done. 1546 01:19:07,920 --> 01:19:09,840 Of all the companies Shark Tank has invested in, 1547 01:19:09,920 --> 01:19:11,520 your company will be the first 1548 01:19:11,600 --> 01:19:13,200 to reach the IPO stage. That's my belief. 1549 01:19:13,200 --> 01:19:14,880 Done, sir! Thank you for that. 1550 01:19:20,120 --> 01:19:22,360 Hello, friends. Please watch out for your eyes 1551 01:19:22,440 --> 01:19:23,880 while watching today's Ask the Shark 1552 01:19:24,000 --> 01:19:27,280 because this Shark's and my glowing skin 1553 01:19:27,360 --> 01:19:29,240 can adversely affect them. 1554 01:19:29,320 --> 01:19:32,520 Mr Anupam Mittal, Founder and CEO of People's Group, is with me. 1555 01:19:32,600 --> 01:19:34,480 - How are you, sir? - I am great, Ashish. 1556 01:19:34,560 --> 01:19:35,840 I'm better after seeing you now. 1557 01:19:35,880 --> 01:19:38,520 Anupam sir, Urmi has asked today's question. 1558 01:19:38,600 --> 01:19:40,720 Urmi is 41 years old and hails from Mizoram. 1559 01:19:40,800 --> 01:19:43,640 Her question is, 'Many startups are launched, but many' 1560 01:19:57,640 --> 01:20:01,920 The founders should have different skills that complement each other. 1561 01:20:02,000 --> 01:20:03,640 Your worldview should be similar. 1562 01:20:03,720 --> 01:20:06,800 But when your worldviews differ 1563 01:20:06,880 --> 01:20:08,440 or your wavelengths don't match, 1564 01:20:08,520 --> 01:20:10,640 it becomes a little toxic. 1565 01:20:10,720 --> 01:20:14,280 We've seen numerous times that founders fight with each other, 1566 01:20:14,360 --> 01:20:17,360 and the company has to shut down. 1567 01:20:17,440 --> 01:20:18,640 That's one of the big reasons. 1568 01:20:18,720 --> 01:20:21,200 It upsets me to see that. 1569 01:20:21,320 --> 01:20:24,080 - A relationship causes the company to shut down. - Yes. 1570 01:20:24,360 --> 01:20:26,160 The second is the obvious one. 1571 01:20:26,280 --> 01:20:28,440 We call it the product market fit. 1572 01:20:28,520 --> 01:20:32,280 Generally, we invest at the pre-product-market fit stage. 1573 01:20:32,360 --> 01:20:34,440 It means you have a concept, 1574 01:20:34,520 --> 01:20:37,000 - an idea or a thesis. - Yes. 1575 01:20:37,120 --> 01:20:39,520 You want money to validate it. 1576 01:20:39,640 --> 01:20:41,120 Many times, it doesn't get validated. 1577 01:20:41,200 --> 01:20:42,560 For example, 1578 01:20:43,360 --> 01:20:47,800 you decided to make flying cars three years ago. 1579 01:20:47,880 --> 01:20:49,440 You invested in that. 1580 01:20:49,520 --> 01:20:51,760 But three years back was probably not the right time. 1581 01:20:52,040 --> 01:20:54,840 So, that product is not fit for the market. 1582 01:20:54,920 --> 01:20:58,440 You don't find enough customers willing to pay money 1583 01:20:58,520 --> 01:21:00,680 to make your business profitable. 1584 01:21:01,520 --> 01:21:03,040 That's why we have to shut it. 1585 01:21:03,160 --> 01:21:04,800 Generally, these two are the prime reasons 1586 01:21:04,840 --> 01:21:07,000 that companies don't work out. 1587 01:21:07,200 --> 01:21:10,560 There is one more reason for companies to fail. 1588 01:21:10,680 --> 01:21:13,360 It is actually counter-intuitive. 1589 01:21:13,520 --> 01:21:16,680 People feel that taking investments 1590 01:21:16,800 --> 01:21:19,480 will increase the company's chances of success. 1591 01:21:19,920 --> 01:21:21,560 That may be true. 1592 01:21:21,720 --> 01:21:23,920 But it may also not be true. 1593 01:21:24,000 --> 01:21:27,280 In fact, more often than not, 1594 01:21:27,400 --> 01:21:29,480 taking investment 1595 01:21:29,600 --> 01:21:33,960 - might drop your chances of succeeding. - Oh! 1596 01:21:34,040 --> 01:21:36,280 If you accept funds before time 1597 01:21:36,440 --> 01:21:39,280 and more than necessary, 1598 01:21:39,840 --> 01:21:42,000 you enter a cycle 1599 01:21:42,080 --> 01:21:44,320 in which you must generate returns 1600 01:22:18,440 --> 01:22:20,400 That's also why businesses fail. 1601 01:22:20,480 --> 01:22:23,520 So, keep that in mind. Investments are good, 1602 01:22:23,600 --> 01:22:26,200 but when you and your business are ready. 1603 01:22:26,440 --> 01:22:28,680 - Very well answered, sir. - As always! 1604 01:22:28,760 --> 01:22:30,240 [laughing] 1605 01:22:30,320 --> 01:22:32,080 I'll see you in the next Ask the Shark 1606 01:22:32,160 --> 01:22:33,680 with a new question and a new shark.