1 00:00:20,160 --> 00:00:22,200 [clanking] 2 00:00:24,760 --> 00:00:25,760 [beeping] 3 00:00:32,280 --> 00:00:33,880 [music playing] 4 00:00:47,320 --> 00:00:49,000 [music concludes] 5 00:00:49,760 --> 00:00:51,200 [theme music playing] 6 00:01:08,600 --> 00:01:10,760 [theme music concludes] 7 00:01:18,160 --> 00:01:21,440 - Nice. - Sharks, you have some placards with you. 8 00:01:21,920 --> 00:01:23,400 Using those placards, 9 00:01:23,560 --> 00:01:25,840 you'll need to answer one of our questions. 10 00:01:26,480 --> 00:01:30,880 Chocolate A expires in 6 months. 11 00:01:31,280 --> 00:01:35,080 And Chocolate B is about to expire in 1 month. 12 00:01:35,560 --> 00:01:37,200 Which one will you buy? 13 00:01:38,840 --> 00:01:40,520 A? A? B? A! 14 00:01:40,640 --> 00:01:42,040 - Anupam? - A. Sorry, A. 15 00:01:42,120 --> 00:01:43,280 A, perfect. 16 00:01:43,400 --> 00:01:48,160 What if I said Chocolate B was offering a 50% discount? 17 00:01:49,640 --> 00:01:50,520 - B. - Perfect. 18 00:01:50,640 --> 00:01:54,160 Team B, you just helped Chocolate B from going to waste. 19 00:01:54,480 --> 00:01:59,760 Customers normally don't buy products nearing their expiry date. 20 00:01:59,920 --> 00:02:02,880 In this manner, every year in the FMCG industry, 21 00:02:07,520 --> 00:02:11,360 Today, the Indian FMCG market stands at Rs. 18 lakh crores 22 00:02:11,440 --> 00:02:13,800 and is projected to double in the next 5 years. 23 00:02:19,520 --> 00:02:22,280 worth Rs. 5,000 crores are dumped as waste 24 00:02:22,360 --> 00:02:25,200 in India every year. 25 00:02:31,360 --> 00:02:33,880 Sharks, not only is this a great financial loss, 26 00:02:34,120 --> 00:02:37,840 but it also pollutes our air, soil and water. 27 00:02:38,520 --> 00:02:41,760 To solve this problem, we came up with Gofig, 28 00:02:42,000 --> 00:02:44,200 where big savings meet zero waste. 29 00:02:46,040 --> 00:02:47,880 Gofig is a solution 30 00:02:47,960 --> 00:02:50,400 that aims to take the FMCG surplus 31 00:03:10,320 --> 00:03:15,040 impact-focused platform for surplus and near-expiry products 32 00:03:15,160 --> 00:03:17,200 and to save every product from going to waste. 33 00:03:17,400 --> 00:03:19,480 To make this vision a reality, 34 00:03:19,680 --> 00:03:23,240 our ask is Rs. 50 lakhs for 2% equity. 35 00:03:30,760 --> 00:03:32,360 Hi, Gaurav and Disha. 36 00:03:32,560 --> 00:03:34,320 Welcome to Shark Tank Season 4. 37 00:03:34,480 --> 00:03:37,600 That was a good pitch and a great way to make an impact. 38 00:03:37,680 --> 00:03:39,080 Now, tell us about yourselves. 39 00:03:39,160 --> 00:03:42,160 What do you do, what were you doing and what brought you into this? 40 00:03:42,520 --> 00:03:45,920 I belong to a small town in Gujarat called Godhra. 41 00:03:46,000 --> 00:03:47,920 I did my graduation in Gujarat. 42 00:03:48,200 --> 00:03:49,120 After that, from 43 00:03:49,200 --> 00:03:51,440 the Illinois Institute of Technology in Chicago, 44 00:03:51,600 --> 00:03:54,320 I did my Masters in Electronics and Telecommunication. 45 00:04:02,200 --> 00:04:03,960 The turning point in my career was 46 00:04:04,040 --> 00:04:06,080 when I started working with the German Government. 47 00:04:06,240 --> 00:04:09,120 I was leading the investment promotion arm 48 00:04:09,200 --> 00:04:10,600 of the city of Frankfurt. 49 00:04:10,760 --> 00:04:12,440 I did that for 10 years. 50 00:04:12,520 --> 00:04:14,280 During this stint, 51 00:04:14,360 --> 00:04:18,760 I helped many Indian conglomerates invest in Germany. 52 00:04:18,800 --> 00:04:22,160 I also worked with diplomats. After that, 53 00:04:22,240 --> 00:04:25,320 I worked with Bobble AI which is a tech start-up. 54 00:04:25,400 --> 00:04:27,920 I was there as Senior Vice President for Business. 55 00:04:28,000 --> 00:04:32,600 I left Bobble AI in 2023. 56 00:04:32,680 --> 00:04:34,880 Ever since, I started working on Gofig. 57 00:04:39,920 --> 00:04:42,400 I moved out of Pune to study engineering. 58 00:04:42,480 --> 00:04:45,440 I got my bachelor's degree from the University of Maryland in College Park 59 00:04:45,520 --> 00:04:49,040 and did my master's from Carnegie Mellon University. 60 00:04:59,120 --> 00:05:02,600 I ran an engineering company for 8 years and grew it 61 00:05:02,760 --> 00:05:05,480 and then, I went back to consulting in Hong Kong. 62 00:05:05,560 --> 00:05:07,320 By "ran", I'm assuming you were the CEO. 63 00:05:07,400 --> 00:05:09,560 Yes. Actually, that was my father's company 64 00:05:09,640 --> 00:05:11,640 and he founded it. 65 00:05:11,720 --> 00:05:13,480 Okay. So like Namita, you inherited it. 66 00:05:13,560 --> 00:05:15,760 - Yes, I inherited it. - Okay. Where did you take it? 67 00:05:17,040 --> 00:05:20,760 - When I joined, the company was about worth $3 million. - Okay. 68 00:05:20,840 --> 00:05:22,280 From 3, I took it to $5 million. 69 00:05:22,360 --> 00:05:23,800 - Oh, well done. Not bad. - Yes. 70 00:05:24,560 --> 00:05:26,280 Um, sorry. I missed that. 71 00:05:26,360 --> 00:05:27,960 Are you two related by any chance? 72 00:05:28,040 --> 00:05:29,640 - Yes, we're married. - Okay. 73 00:05:30,280 --> 00:05:32,240 This is called a power couple. 74 00:05:32,480 --> 00:05:35,680 Both your educational qualifications 75 00:05:35,760 --> 00:05:37,880 and pedigree in terms of work experience, 76 00:05:38,040 --> 00:05:40,680 are off the charts. So, a true power couple. 77 00:05:40,760 --> 00:05:42,440 It'd look great if you stood closer. 78 00:05:46,160 --> 00:05:49,320 I had the light-bulb moment. 79 00:05:49,400 --> 00:05:51,600 - I had imagined. - This was in 2022 80 00:05:51,760 --> 00:05:53,080 when Gaurav was in Hong Kong. 81 00:05:53,160 --> 00:05:55,280 I used to keep shuttling between India and Hong Kong 82 00:05:55,360 --> 00:05:58,480 because the kids' schooling was going on here. 83 00:05:58,600 --> 00:06:01,000 So, I was in Hong Kong for a short trip. 84 00:06:01,080 --> 00:06:04,280 There, I discovered a store called GreenPrice. 85 00:06:04,440 --> 00:06:08,360 Inside, I saw that all the products were heavily discounted. 86 00:06:08,520 --> 00:06:10,720 The speciality was that every product 87 00:06:10,800 --> 00:06:13,600 displayed the expiry date or the best-before date. 88 00:06:14,080 --> 00:06:15,640 I found it very refreshing 89 00:06:15,760 --> 00:06:18,120 as well as inspiring 90 00:06:18,200 --> 00:06:20,280 that a small outlet 91 00:06:20,360 --> 00:06:22,360 was taking some steps to mitigate the waste. 92 00:06:22,520 --> 00:06:25,320 - So, that was my trigger. - Gaurav! Disha! Tell me one thing. 93 00:06:25,400 --> 00:06:27,840 How did you feel this idea could be the next big thing? 94 00:06:27,960 --> 00:06:29,920 - Was it passion or you did some... - Yes. 95 00:06:30,000 --> 00:06:32,520 You were in McKinsey, you obviously would've done some research. 96 00:06:32,720 --> 00:06:34,440 We grew up in Jain families. 97 00:06:34,640 --> 00:06:37,760 Our religion prohibits any kind of food wastage. 98 00:06:38,040 --> 00:06:41,600 If bitter gourd is made at home, everyone got their share 99 00:06:41,680 --> 00:06:43,200 - and they had to finish it. - Oh, wow! 100 00:06:43,400 --> 00:06:44,800 It was also our value system 101 00:06:44,880 --> 00:06:47,640 that made us want to do something about this problem. 102 00:06:47,720 --> 00:06:49,520 India has plenty of landfill sites. 103 00:06:49,640 --> 00:06:52,400 We are well-educated with enriching experiences. 104 00:06:52,600 --> 00:06:55,600 We ought to put those to use towards a good vision. 105 00:06:55,920 --> 00:06:57,960 Let me ask you a relevant question. 106 00:06:58,120 --> 00:07:00,480 You took a Rs. 5,000-crore problem... 107 00:07:15,720 --> 00:07:17,600 Basically, today, in India, 108 00:07:17,680 --> 00:07:20,640 these products go through a variety of treatments. 109 00:07:20,720 --> 00:07:22,600 Many unorganised players 110 00:07:22,680 --> 00:07:24,680 buy these products post their expiry 111 00:07:24,760 --> 00:07:27,440 at discounted or throwaway prices, 112 00:07:27,520 --> 00:07:30,960 re-date the inventory and push it back into the market. 113 00:07:31,040 --> 00:07:34,720 A lot of times, cattle feed is made with these expired products. 114 00:07:36,120 --> 00:07:40,440 So, I think there is enough scope for us all to make an impact. 115 00:07:40,520 --> 00:07:45,200 If an FMCG product, let's say expires in a month, 116 00:07:45,320 --> 00:07:46,400 We think it's fine, 117 00:07:46,480 --> 00:07:51,000 but there's a stale aftertaste of either oil... 118 00:07:51,080 --> 00:07:53,000 How do you deal with that? 119 00:07:54,080 --> 00:07:55,960 We'd never sell a product 120 00:07:56,040 --> 00:07:58,760 where we list an FMCG company without checking them first. 121 00:07:59,000 --> 00:08:00,400 We have a process in place. 122 00:08:00,600 --> 00:08:03,080 The FMCG company has to send us samples 123 00:08:03,160 --> 00:08:04,920 of the batch they want to sell. 124 00:08:05,240 --> 00:08:08,200 We check their samples thoroughly. 125 00:08:22,680 --> 00:08:24,360 For example, some products 126 00:08:24,440 --> 00:08:28,080 whose temperature is not managed properly in transit, 127 00:08:28,240 --> 00:08:29,800 get spoiled, right? 128 00:08:29,920 --> 00:08:31,080 Leading to this issue. 129 00:08:31,480 --> 00:08:34,760 So, your point is you go to batch-level detailing 130 00:08:34,840 --> 00:08:38,120 - to make sure the quality is ensured. - Absolutely. 131 00:08:38,240 --> 00:08:39,080 That's your answer... 132 00:08:39,160 --> 00:08:40,640 - That's very important. - I'm convinced. 133 00:08:40,680 --> 00:08:41,840 Absolutely. 134 00:08:42,000 --> 00:08:43,160 Just explain your business. 135 00:08:43,240 --> 00:08:46,320 Where do you sell, to whom and at what discount? 136 00:08:46,800 --> 00:08:51,280 We launched our website in July 2023... 137 00:08:51,400 --> 00:08:53,480 - Okay. - Purely from the point of view 138 00:08:53,560 --> 00:08:55,440 of market validation. 139 00:08:55,520 --> 00:08:57,280 So, currently, you sell only on your website. 140 00:08:57,400 --> 00:08:58,400 - No. - Let me answer that. 141 00:08:58,440 --> 00:09:00,920 We needed to do a market validation 142 00:09:01,000 --> 00:09:03,080 as we were doing this in India for the first time. 143 00:09:03,440 --> 00:09:06,680 We didn't know how big a problem this was for the FMCG industry. 144 00:09:07,000 --> 00:09:09,040 Secondly, we had our doubts. 145 00:09:09,200 --> 00:09:12,280 If we discounted the products, would people buy them, right? 146 00:09:12,360 --> 00:09:15,720 And even if they did, at what price point? 147 00:09:15,800 --> 00:09:18,480 So, we launched this as a pilot. 148 00:09:18,640 --> 00:09:19,720 Are you pre-revenue? 149 00:09:19,800 --> 00:09:21,080 - Yes, we are pre-revenue. - Yes. 150 00:09:21,120 --> 00:09:22,280 We are generating some revenue 151 00:09:22,320 --> 00:09:23,360 because we take this product 152 00:09:23,400 --> 00:09:25,280 as a part of market testing and validation. 153 00:09:25,840 --> 00:09:28,320 Coming to your question of what model we operate on. 154 00:09:28,880 --> 00:09:30,600 Our model is very straightforward. 155 00:09:30,680 --> 00:09:33,040 When brands realise they have surplus inventory, 156 00:09:33,120 --> 00:09:34,320 they inform us. 157 00:09:34,440 --> 00:09:38,160 Based on the category, our experience as well as data, 158 00:09:38,240 --> 00:09:40,920 we decide how much to discount the product 159 00:09:41,000 --> 00:09:42,120 keeping the expiry date in mind. 160 00:09:42,160 --> 00:09:47,280 And we now take it to the customer for testing in three ways. 161 00:09:47,760 --> 00:09:49,400 The first is our online platform. 162 00:09:49,560 --> 00:09:50,720 The second one is, 163 00:09:50,800 --> 00:09:53,880 we do a lot of things to educate people on this topic. 164 00:09:54,000 --> 00:09:57,760 We visit a lot of corporates and universities 165 00:10:11,520 --> 00:10:14,360 - Do you buy this inventory and resell it or... - No. 166 00:10:14,440 --> 00:10:16,040 - Does the brand sell it? - So, our... Yes. 167 00:10:16,040 --> 00:10:18,440 When we onboard a brand, 168 00:10:18,520 --> 00:10:20,880 we enter into a partnership agreement 169 00:10:21,080 --> 00:10:24,960 through which we give our brand partners their recovery 170 00:10:25,040 --> 00:10:26,920 on the sale of products. 171 00:10:37,520 --> 00:10:41,720 These products will already be in the FMCG's supply chain. 172 00:10:42,200 --> 00:10:45,600 Our people will go and test them. 173 00:10:45,680 --> 00:10:48,320 Once approved, the products will be listed. 174 00:10:48,480 --> 00:10:51,520 After that, customers will be able to order them. 175 00:10:51,600 --> 00:10:52,600 But where? 176 00:10:57,640 --> 00:10:59,440 Will they go to all these places and check the batch? 177 00:10:59,480 --> 00:11:01,000 - No. - They could go to distributors, 178 00:11:01,080 --> 00:11:03,320 superstockists and brand warehouses 179 00:11:07,160 --> 00:11:08,160 - Yes. - Exactly. 180 00:11:13,360 --> 00:11:18,400 The model we told you about will be B2B-focused going forward. 181 00:11:19,080 --> 00:11:21,360 When we validated this market, 182 00:11:21,600 --> 00:11:23,960 we figured out three things. 183 00:11:24,160 --> 00:11:26,520 Firstly, due to time-criticality, 184 00:11:26,600 --> 00:11:29,920 moving volumes quickly in this business is very important. 185 00:11:43,280 --> 00:11:45,040 The products get consumed faster. 186 00:11:45,160 --> 00:11:46,960 The consumer isn't buying from Gofig. 187 00:11:47,080 --> 00:11:49,240 As a consumer, going forward, through Gofig... 188 00:11:49,360 --> 00:11:51,160 You told us a long story. 189 00:11:55,960 --> 00:11:57,440 That was for the market validation. 190 00:11:57,520 --> 00:11:58,520 As I said, 191 00:11:58,600 --> 00:12:00,400 a market validation should be done 192 00:12:00,560 --> 00:12:02,360 to know if we should work on it, 193 00:12:02,440 --> 00:12:03,960 how big an opportunity this could be 194 00:12:08,120 --> 00:12:10,120 - Yes. - Say, for example, 195 00:12:10,240 --> 00:12:14,440 you'll take goods from Marico and supply them to a retail store 196 00:12:14,680 --> 00:12:16,960 - in a discount section. - No. 197 00:12:17,760 --> 00:12:19,880 - So, what does B2B mean? - Correct. 198 00:12:20,120 --> 00:12:21,120 In B2B, 199 00:12:21,680 --> 00:12:25,600 we'll need to find different kinds of sales and distribution mechanisms 200 00:12:25,680 --> 00:12:27,960 or buyers in this space. 201 00:12:28,040 --> 00:12:29,200 - Like who? - So, you mean... 202 00:12:29,280 --> 00:12:31,240 - Give me one minute. I think I understand. - Yes. 203 00:12:31,320 --> 00:12:34,560 You're partnering your business with brands 204 00:12:34,720 --> 00:12:38,040 and you'll determine and map out the distribution points 205 00:12:38,120 --> 00:12:40,800 from where you'll acquire the goods. 206 00:12:40,960 --> 00:12:42,040 When you get an order 207 00:12:42,120 --> 00:12:44,840 from people like, for example, Green Store... 208 00:12:45,000 --> 00:12:46,200 - Right. - GreenPrice. 209 00:12:46,280 --> 00:12:49,240 Similar types of people will emerge in India. 210 00:12:49,400 --> 00:12:51,000 You'll supply to them. 211 00:12:51,120 --> 00:12:52,520 And you will be the channel 212 00:12:52,600 --> 00:12:54,840 for that wholesaler or CFA agent... 213 00:12:55,000 --> 00:12:57,640 - Exactly. - Can directly ship to them from your platform. 214 00:12:57,720 --> 00:12:59,600 - They're not established yet. - Yes. 215 00:12:59,720 --> 00:13:02,240 - No. - There is no GreenPrice in India. 216 00:13:02,320 --> 00:13:03,440 Whom will you partner with? 217 00:13:04,400 --> 00:13:06,680 So, even during the pilot, 218 00:13:06,760 --> 00:13:11,240 - we identified four types of buyer personas. - Okay. 219 00:13:11,320 --> 00:13:13,680 The first one in India 220 00:13:13,760 --> 00:13:15,120 are discounter retailers 221 00:13:42,160 --> 00:13:45,000 - So, we have onboarded 40 brands. - 40 brands. 222 00:13:45,480 --> 00:13:47,320 The model you saw in Hong Kong, 223 00:13:47,400 --> 00:13:49,600 there the end consumer was buying this product. 224 00:13:49,680 --> 00:13:51,520 You will buy products from one retailer 225 00:13:51,600 --> 00:13:53,000 and supply them to another retailer. 226 00:13:54,040 --> 00:13:56,080 Why don't you sell them directly to the customer 227 00:13:56,200 --> 00:13:58,000 from Unilever's warehouse? 228 00:13:58,520 --> 00:14:00,680 - Right. - You'll stock the products with someone else, 229 00:14:00,680 --> 00:14:03,480 they will make some sales and have another expiry tail. 230 00:14:03,600 --> 00:14:06,560 Eventually, aren't you complicating the model? 231 00:14:06,680 --> 00:14:09,880 We saw a few challenges in that as well. 232 00:14:10,120 --> 00:14:12,840 First, at our current scale, 233 00:14:20,560 --> 00:14:22,480 because these products are already heavily discounted... 234 00:14:22,480 --> 00:14:24,480 This is a bottleneck for you, 235 00:14:24,600 --> 00:14:27,680 - the performance marketing challenge. - Yes. 236 00:14:27,880 --> 00:14:29,280 That is your problem, 237 00:14:29,360 --> 00:14:30,760 - not the consumer's. - Right. 238 00:14:30,960 --> 00:14:31,960 Right. 239 00:14:32,200 --> 00:14:33,120 Tell me something. 240 00:14:33,200 --> 00:14:35,160 Rather than selling on your own website, 241 00:14:35,280 --> 00:14:38,120 did you try to sell on Amazon? 242 00:14:38,240 --> 00:14:39,400 - We cannot. - It's not allowed. 243 00:14:39,400 --> 00:14:42,120 - It's not allowed. - We have contracts with brands 244 00:14:42,280 --> 00:14:43,600 prohibiting us from selling this inventory 245 00:14:43,600 --> 00:14:45,720 on their regular channels. 246 00:14:45,800 --> 00:14:47,120 - The statement is... - You're stuck in a problem. 247 00:14:47,120 --> 00:14:48,840 The opportunity is 248 00:14:48,920 --> 00:14:51,600 that we have to build alternate distribution mechanisms 249 00:14:51,680 --> 00:14:53,640 - at scale... That's an opportunity. - Hang... 250 00:14:53,720 --> 00:14:55,240 - Can I ask an obvious question? - Yes. 251 00:14:55,280 --> 00:14:59,040 You got inspired by a store called GreenPrice. 252 00:14:59,120 --> 00:15:00,800 Why wouldn't you replicate that model? 253 00:15:02,120 --> 00:15:05,760 Even today, retail in India is majorly offline. 254 00:15:05,880 --> 00:15:08,400 Why don't you start those stores? 255 00:15:08,520 --> 00:15:09,800 That was the intention. 256 00:15:10,080 --> 00:15:11,640 The only twist was 257 00:15:11,760 --> 00:15:14,040 that this is India and e-commerce is prevalent. 258 00:15:14,120 --> 00:15:16,160 So, we built it as an e-commerce platform. 259 00:15:16,240 --> 00:15:17,480 If you want to do it online. 260 00:15:17,560 --> 00:15:20,200 All I'm asking is, why didn't you think of offline stores? 261 00:15:20,320 --> 00:15:22,480 - Why didn't you? You spent a year doing this... - I'll tell you. 262 00:15:22,520 --> 00:15:24,760 I think you guys seem independently wealthy. 263 00:15:24,840 --> 00:15:27,960 - You've worked for many years - and made some good money. - Yes. 264 00:15:28,080 --> 00:15:29,760 Do you need to work for money now? 265 00:15:29,960 --> 00:15:31,600 What kind of a question is that? 266 00:15:31,680 --> 00:15:33,200 It's a very relevant question, Namita. 267 00:15:33,280 --> 00:15:34,680 Just let me finish. 268 00:15:35,240 --> 00:15:36,760 Do you need money? 269 00:15:37,640 --> 00:15:40,720 This is Shark Tank. It's capitalism in its true form! 270 00:15:41,600 --> 00:15:44,280 If you're uncomfortable with the question, you shouldn't be here. 271 00:15:44,520 --> 00:15:47,680 But are you working for money or impact? 272 00:15:48,800 --> 00:15:49,840 We're working for impact. 273 00:15:49,920 --> 00:15:51,560 - The primary focus. - That's my point. 274 00:15:51,640 --> 00:15:53,400 - That was the trigger point. - That's my point. 275 00:15:53,440 --> 00:15:55,280 - As we said before. - Last year, 276 00:15:55,720 --> 00:15:57,440 if you really wanted to prove this model, 277 00:15:57,560 --> 00:15:58,880 you'd have opened a store. 278 00:15:59,520 --> 00:16:02,200 - It wouldn't take so much money. - Anupam, I beg to disagree. 279 00:16:02,320 --> 00:16:04,560 Suppose we want to launch from Pune. 280 00:16:04,640 --> 00:16:07,600 If I set up a shop in one corner of Pune, 281 00:16:08,080 --> 00:16:10,240 I believe the impact would be too low. 282 00:16:10,320 --> 00:16:11,680 I think people will queue up. 283 00:16:11,760 --> 00:16:13,200 So, I fundamentally differ with you. 284 00:16:13,320 --> 00:16:14,400 - I agree with Anupam. - I know you... 285 00:16:14,440 --> 00:16:16,280 - I think people will queue up. - Me too. 286 00:16:16,360 --> 00:16:19,400 And you should capture one city, open 7 to 12 stores, 287 00:16:19,520 --> 00:16:20,600 build your brand there. 288 00:16:20,720 --> 00:16:23,680 People will flock to your stores because it'll be easy. 289 00:16:23,840 --> 00:16:26,280 And the proposition will be 70%. 290 00:16:26,680 --> 00:16:27,680 Who wouldn't come? 291 00:16:27,720 --> 00:16:31,440 India has loads of value-seeking, bargain-hunting customers. 292 00:16:31,600 --> 00:16:34,520 I think you've made it too complex. 293 00:16:34,640 --> 00:16:37,360 I don't fundamentally agree with your thesis 294 00:16:37,440 --> 00:16:40,160 but fundamentally, I don't like where this is going. 295 00:16:40,240 --> 00:16:41,480 So, I'm out. Good luck. 296 00:16:42,680 --> 00:16:44,560 I disagree with Anupam... 297 00:16:45,760 --> 00:16:46,760 On two things. 298 00:16:46,920 --> 00:16:49,200 One is, it's not like because you aim to make an impact, 299 00:16:49,280 --> 00:16:50,440 you don't want to make money. 300 00:16:50,520 --> 00:16:54,120 I think this age is characterised by social entrepreneurship 301 00:16:54,280 --> 00:16:55,920 where, why do you need to choose? 302 00:16:56,000 --> 00:16:57,400 - You can do both. - Right. 303 00:16:57,560 --> 00:16:58,720 Point number two. 304 00:16:58,800 --> 00:17:01,600 In India, building an offline channel 305 00:17:01,800 --> 00:17:03,560 is very capital-intensive. 306 00:17:03,640 --> 00:17:06,120 - And inventory-led. - Exactly, in every way. 307 00:17:06,280 --> 00:17:08,600 If you want to go pan-India, you can't be opening 308 00:17:08,680 --> 00:17:10,520 so many offline stores. 309 00:17:10,760 --> 00:17:11,960 It's not that easy. 310 00:17:12,040 --> 00:17:15,480 Here, 80% are smaller brands. 311 00:17:15,760 --> 00:17:19,360 If you move on to bigger brands, they won't take the risk. 312 00:17:19,520 --> 00:17:22,840 I think your vision of making an impact 313 00:17:22,920 --> 00:17:24,200 is a great vision. 314 00:17:24,360 --> 00:17:27,320 I don't have clarity as far as the execution goes 315 00:17:28,120 --> 00:17:29,600 and for today, I am out. 316 00:17:31,320 --> 00:17:33,200 But I would love to meet you again 317 00:17:33,440 --> 00:17:35,680 with revenue, product-market fit, 318 00:17:35,800 --> 00:17:37,800 with this quality and tech in place. 319 00:17:38,480 --> 00:17:39,480 Thank you. 320 00:17:39,600 --> 00:17:40,760 You said you were pre-revenue 321 00:17:40,840 --> 00:17:42,280 but you put up kiosks in some places. 322 00:17:42,480 --> 00:17:44,240 - So, you must be doing some business. - Yes. 323 00:17:44,240 --> 00:17:45,320 Give us your numbers. 324 00:17:46,080 --> 00:17:49,120 If I talk about the last three months, 325 00:17:49,320 --> 00:17:52,880 we made Rs. 2.27 lakhs sales last month. 326 00:17:53,160 --> 00:17:55,000 Rs. 1.67 lakhs the month before that 327 00:17:55,080 --> 00:17:57,320 and in the month before that, Rs. 90,000. 328 00:17:57,480 --> 00:18:01,360 This month, which is September 2024, we are set to close at Rs. 3 lakhs. 329 00:18:02,160 --> 00:18:04,000 What does your margin look like? 330 00:18:04,080 --> 00:18:06,760 Our gross margin is 35%. 331 00:18:06,960 --> 00:18:10,440 Look. First of all, I'm surprised that your scale is quite reasonable. 332 00:18:10,560 --> 00:18:13,920 The kiosks and stores you've put up at a few places 333 00:18:14,000 --> 00:18:15,760 have brought about a reasonable scale, 334 00:18:15,840 --> 00:18:18,400 but I believe that in any business, 335 00:18:18,480 --> 00:18:20,920 the execution is more important than the idea. 336 00:18:21,040 --> 00:18:24,320 I believe you ought to launch your own stores. 337 00:18:25,000 --> 00:18:26,960 My belief about entrepreneurship is 338 00:18:27,080 --> 00:18:30,080 there should be a high bias for execution. 339 00:18:30,360 --> 00:18:33,040 If you start one store, at least Rs. 25-lakh sales will come in. 340 00:18:33,480 --> 00:18:35,440 The proof point that it'll build 341 00:18:35,760 --> 00:18:39,200 will be 10x better than all the focus groups you'll do. 342 00:18:46,480 --> 00:18:48,120 I'm a little disappointed by your pitch. 343 00:18:48,200 --> 00:18:49,480 I thought this was a food pitch, 344 00:18:49,560 --> 00:18:51,360 I'd get something to eat but you gave nothing. 345 00:18:51,440 --> 00:18:53,320 Then I realised this pitch was about something else. 346 00:18:53,360 --> 00:18:55,720 You've cracked the supply side very well. 347 00:18:56,240 --> 00:18:58,400 You need to work on the demand side. 348 00:18:59,400 --> 00:19:01,520 Your model hasn't been proven yet. 349 00:19:01,640 --> 00:19:04,200 You're trying to figure out what it is you want to do. 350 00:19:04,600 --> 00:19:07,280 Once you do that, then I will be interested. 351 00:19:07,360 --> 00:19:09,040 I think, now, you guys are... 352 00:19:09,120 --> 00:19:10,920 It's too early for me to come in. 353 00:19:11,000 --> 00:19:13,840 So, all the best. Do well. I'm out. 354 00:19:15,360 --> 00:19:17,360 You identified a great opportunity. 355 00:19:17,720 --> 00:19:19,400 Expiry is a problem for every business. 356 00:19:19,480 --> 00:19:22,720 - In our business too. Contact lenses expire. - Yes. 357 00:19:23,000 --> 00:19:24,560 Very unique, novel idea. 358 00:19:24,760 --> 00:19:27,440 And I must commend you for spotting this opportunity. 359 00:19:27,600 --> 00:19:29,800 I don't know how many others are playing in this segment 360 00:19:29,840 --> 00:19:31,720 but it is a big opportunity. 361 00:19:32,520 --> 00:19:33,720 The problem is 362 00:19:33,800 --> 00:19:37,200 you guys have come from a consulting background. 363 00:19:37,360 --> 00:19:39,520 So, you're over-engineering everything, 364 00:19:39,600 --> 00:19:40,600 but, sometimes, 365 00:19:41,160 --> 00:19:42,880 it is important to drive the car. 366 00:19:43,200 --> 00:19:44,800 What happens in business is you have to... 367 00:19:44,920 --> 00:19:47,600 A little madness is required. 368 00:19:48,000 --> 00:19:50,280 Drive the car, my dear friend. Drive it. 369 00:19:50,400 --> 00:19:52,320 Open a store. What's the worst that could happen? 370 00:19:52,360 --> 00:19:56,280 Until you steer your thought process towards disruption, 371 00:19:56,520 --> 00:19:57,560 it will be very difficult 372 00:19:57,640 --> 00:19:59,440 because what you're trying to do is quite new. 373 00:19:59,480 --> 00:20:02,840 When you try to do something new, problems crop up on every front. 374 00:20:03,000 --> 00:20:05,560 I'm just telling you to change the thought process 375 00:20:06,000 --> 00:20:08,160 but at this stage of your business, 376 00:20:08,320 --> 00:20:10,480 I will have to take almost one-third of your company. 377 00:20:10,600 --> 00:20:11,960 [tense music playing] 378 00:20:13,760 --> 00:20:15,160 Peyush, make an offer. 379 00:20:15,240 --> 00:20:17,240 They are bootstrapped anyway I think. 380 00:20:19,520 --> 00:20:20,720 Okay, I'll make you an offer. 381 00:20:20,800 --> 00:20:22,640 Rs. 1 crore for one-third of the company. 382 00:20:22,880 --> 00:20:24,920 This absolutely won't do 383 00:20:25,000 --> 00:20:26,720 that once the tech is in place and this grows big, 384 00:20:26,720 --> 00:20:28,000 then you'll open a store. 385 00:20:28,640 --> 00:20:29,920 [tense music playing] 386 00:20:32,520 --> 00:20:34,640 Peyush, thank you for the offer. 387 00:20:35,880 --> 00:20:38,880 If we talk, at this stage, 388 00:20:39,000 --> 00:20:42,600 we're looking at raising a total of Rs. 2.5 crores. 389 00:20:49,880 --> 00:20:52,240 so there's a higher scope for... 390 00:20:52,320 --> 00:20:55,160 - You have a counter offer then. - Large-scale institutions to join. 391 00:20:55,640 --> 00:20:59,120 We wish to make a counter offer. 392 00:21:09,680 --> 00:21:10,960 [tense music playing] 393 00:21:11,920 --> 00:21:13,880 That 33.33% is for 394 00:21:14,520 --> 00:21:16,800 the strategic help that would come along. 395 00:21:16,880 --> 00:21:18,480 In no arrogance. 396 00:21:18,560 --> 00:21:19,560 - Yes. - To be honest. 397 00:21:19,600 --> 00:21:22,360 And I understand and appreciate every statement you made. 398 00:21:22,440 --> 00:21:24,280 That Rs. 1 or 2 crores just won't do it. 399 00:21:24,360 --> 00:21:25,320 Let me be upfront. 400 00:21:25,400 --> 00:21:27,240 - You'll open a shop... - Exactly. 401 00:21:27,320 --> 00:21:29,440 - Grow the business. You'll need Rs. 10 to 20 crores. - Yes. 402 00:21:29,480 --> 00:21:31,520 But at this stage, 403 00:21:32,640 --> 00:21:33,760 this will not work. 404 00:21:33,920 --> 00:21:35,720 Forget 5 or 10, even 15% will not work. 405 00:21:35,840 --> 00:21:37,240 So, I understand and... 406 00:21:38,600 --> 00:21:39,840 - Sure. - Best of luck. 407 00:21:50,360 --> 00:21:52,520 'Thanks to Peyush for giving us this offer.' 408 00:21:52,680 --> 00:21:56,280 It, however, did not align with our current plans and goals. 409 00:21:56,400 --> 00:21:59,800 As Aman said, we had cracked the supply side 410 00:22:00,120 --> 00:22:02,680 and we need to work on the distribution. 411 00:22:02,760 --> 00:22:03,840 So, we'll go home 412 00:22:04,080 --> 00:22:06,360 and figure out the distribution strategy. 413 00:22:06,480 --> 00:22:08,320 As also, how we can 414 00:22:08,440 --> 00:22:10,040 take these products 415 00:22:10,120 --> 00:22:14,360 to every family and household in India. 416 00:22:15,000 --> 00:22:16,040 Hello, Disha and Gaurav. 417 00:22:16,120 --> 00:22:18,200 - Welcome to our PokerBaazi zone. - Thank you. 418 00:22:18,280 --> 00:22:19,920 - How did the pitch go? - Great. 419 00:22:23,680 --> 00:22:24,720 - Okay. - Would you like to play? 420 00:22:24,760 --> 00:22:25,840 - Yes. - All right. 421 00:22:25,920 --> 00:22:26,960 So, here's how it goes. 422 00:22:27,240 --> 00:22:29,960 Based on their strength, Poker hands are ranked in a particular order 423 00:22:55,480 --> 00:22:57,600 Like I told you Royal Flush was at number one 424 00:22:57,720 --> 00:22:58,800 and Flush at number five. 425 00:22:58,880 --> 00:23:00,560 Similarly, I want you to rank them. 426 00:23:00,680 --> 00:23:01,600 - Okay. - Yes. 427 00:23:01,680 --> 00:23:02,960 - As per your business. - Let me start. 428 00:23:02,960 --> 00:23:05,640 The most important to us is human resources, 429 00:23:05,720 --> 00:23:07,040 which is a good team. 430 00:23:07,160 --> 00:23:08,680 All right, I want to apply. 431 00:23:09,000 --> 00:23:10,520 Okay! Royal Flush. 432 00:23:10,600 --> 00:23:12,160 The second is fund raising. 433 00:23:12,400 --> 00:23:13,400 Okay. 434 00:23:13,520 --> 00:23:16,400 I'd say the third is distribution 435 00:23:16,480 --> 00:23:18,200 which we need to focus on. 436 00:23:18,280 --> 00:23:19,760 Four of a kind, yes. 437 00:23:20,240 --> 00:23:22,680 We have quality assurance. Very important. 438 00:23:22,760 --> 00:23:26,840 - We're building a trusted platform that offers quality. - Absolutely. 439 00:23:26,920 --> 00:23:29,200 And the last one is customer service 440 00:23:29,280 --> 00:23:33,280 because a customer is at the centre of whatever you do as a business. 441 00:23:33,360 --> 00:23:35,280 Hundred percent. Okay, all right. 442 00:23:35,600 --> 00:23:36,840 The interesting thing is that 443 00:23:36,920 --> 00:23:39,560 you rated distribution 3, that's Four of a kind. 444 00:23:39,640 --> 00:23:41,520 Why 3 and not 1? 445 00:23:41,800 --> 00:23:44,880 I think the most important thing 446 00:23:44,960 --> 00:23:47,880 - you need first to execute everything is a team. - Yes. 447 00:23:47,960 --> 00:23:51,000 - If you have a good team, you can do everything. - Hmm. 448 00:23:51,120 --> 00:23:52,960 Our team is quite small now. 449 00:24:17,360 --> 00:24:20,640 This is hosted on PokerBaazi with a total prize pool of Rs 100 crores. 450 00:24:20,720 --> 00:24:22,400 Use your strategies to make a winning hand. 451 00:24:22,480 --> 00:24:24,560 You too download the PokerBaazi app, 452 00:24:24,640 --> 00:24:26,680 use your strategies to make a winning hand. 453 00:24:26,960 --> 00:24:29,000 Go and download the PokerBaazi app now. 454 00:24:40,200 --> 00:24:42,040 [theme music playing] 455 00:25:02,720 --> 00:25:04,280 [theme music concludes] 456 00:25:04,520 --> 00:25:05,520 Greetings, Sharks. 457 00:25:05,760 --> 00:25:07,360 I am your local mukhwas. 458 00:25:13,640 --> 00:25:15,840 I'm the afterparty of every dinner 459 00:25:16,000 --> 00:25:18,040 and the munching of every offer. 460 00:25:18,120 --> 00:25:19,280 I am immortal. 461 00:25:20,120 --> 00:25:21,160 You imposter! 462 00:25:21,240 --> 00:25:23,200 You're not mukhwas, you are nonsense! 463 00:25:24,080 --> 00:25:27,120 You've been made in unhygienic conditions for years 464 00:25:27,200 --> 00:25:29,720 and come without a manufacturing and expiration date. 465 00:25:29,840 --> 00:25:33,520 You fool everyone with your synthetic colours and flavours. 466 00:25:34,440 --> 00:25:37,680 Oh, please! It's not like anyone can change me. 467 00:25:37,840 --> 00:25:40,200 Nonsense! Meet Joyspoon. 468 00:25:41,360 --> 00:25:43,840 A new-age mouth freshener and mukhwas brand 469 00:25:58,440 --> 00:26:01,160 India's mouth freshener and mukhwas market 470 00:26:01,360 --> 00:26:04,200 is unorganised and characterised by unhygienic market conditions. 471 00:26:04,360 --> 00:26:06,440 With a dream to revolutionise it, 472 00:26:06,640 --> 00:26:10,040 Joyspoon was established in October 2023. 473 00:26:12,520 --> 00:26:16,520 We use unique ingredients to make refreshing flavours 474 00:26:26,800 --> 00:26:30,040 In line with our no-nonsense policy, 475 00:26:35,400 --> 00:26:39,200 We launched our products on our website and marketplaces. 476 00:26:53,560 --> 00:26:56,920 So, no nonsense and only Joyspoon Mukhwas! 477 00:26:57,960 --> 00:26:59,880 Welcome, Yash and Vaishali. 478 00:27:00,000 --> 00:27:01,240 Tell us about your yourselves. 479 00:27:01,360 --> 00:27:04,080 What made you get into the mukhwas business? 480 00:27:04,280 --> 00:27:05,400 What's your story? 481 00:27:05,480 --> 00:27:08,960 Yash and I come from a small city in Rajasthan called Pali. 482 00:27:09,120 --> 00:27:11,040 In fact, Yash and I are school friends 483 00:27:11,120 --> 00:27:13,160 - and we've been dating for 12 years. - Oh, wow. 484 00:27:13,240 --> 00:27:14,800 - Congratulations. - Thank you. 485 00:27:14,880 --> 00:27:15,720 Married! 486 00:27:15,800 --> 00:27:17,040 - Are you married? - Yes, we are. 487 00:27:17,080 --> 00:27:19,480 We have a baby who we named Joyspoon. 488 00:27:19,560 --> 00:27:20,560 "Because..." 489 00:27:20,720 --> 00:27:22,680 - We'll give you the details. - Sorry, not my concern! 490 00:27:22,720 --> 00:27:24,480 - No, I was joking. - What kind of question... 491 00:27:24,560 --> 00:27:26,200 - I was joking. - Congratulations. 492 00:27:26,280 --> 00:27:27,800 How old are you right now? 493 00:27:28,480 --> 00:27:30,160 How old do you think I am? 494 00:27:30,240 --> 00:27:31,320 25. 495 00:27:31,560 --> 00:27:33,440 I'm 28. He's 29. 496 00:27:33,560 --> 00:27:35,600 - So, minus 12. - Yes. 497 00:27:35,680 --> 00:27:37,560 16. Sweet sixteen romance. 498 00:27:37,640 --> 00:27:38,640 [all chuckle] 499 00:27:39,760 --> 00:27:42,080 I studied in Pali till the twelfth grade. 500 00:27:43,160 --> 00:27:46,040 Then I did BBA and Fashion Designing from Ahmedabad. 501 00:27:46,200 --> 00:27:48,360 Then I worked with Tarun Tahiliani for two years. 502 00:27:48,520 --> 00:27:51,000 - Oh, how nice. - I had the urge to do something. 503 00:27:51,080 --> 00:27:53,120 Food is my calling and I'm from Rajasthan. 504 00:27:53,200 --> 00:27:55,600 My mom and maternal grandma always made something new at home. 505 00:27:55,640 --> 00:27:56,960 And that's when it dawned on me. 506 00:27:57,040 --> 00:28:00,640 When my mother and grandma made mukhwas at home for years, 507 00:28:00,800 --> 00:28:03,360 why not give it a big opportunity? 508 00:28:03,640 --> 00:28:05,640 My marriage got fixed to Yash. 509 00:28:05,960 --> 00:28:08,600 So, it was right under my nose and I was looking for it everywhere! 510 00:28:10,000 --> 00:28:13,320 I got both the prospective groom and business idea from my village. 511 00:28:13,400 --> 00:28:14,920 What was Yash's story? 512 00:28:15,000 --> 00:28:18,000 Do you have any role or does Vaishali manage everything? 513 00:28:18,120 --> 00:28:21,400 No. Of course, her mom and grandma play a huge role in this 514 00:28:21,480 --> 00:28:23,080 and deserve credit for it. 515 00:28:23,920 --> 00:28:26,600 After my schooling, I came to Mumbai 516 00:28:26,680 --> 00:28:29,080 where I did my chartered accountancy. 517 00:28:29,160 --> 00:28:31,240 - I worked with KPMG. - Wow. 518 00:28:31,320 --> 00:28:33,000 I worked with Raymonds and Voltas too. 519 00:28:40,520 --> 00:28:43,440 I founded a health start-up in 2019. 520 00:28:43,560 --> 00:28:45,040 When Vaishali pitched to me, 521 00:28:45,120 --> 00:28:47,320 "Yash, I have expertise in mukhwas." 522 00:28:47,520 --> 00:28:49,080 "You've worked in the food industry." 523 00:28:49,160 --> 00:28:51,960 "Why not focus on one category and build a brand for India?" 524 00:28:52,040 --> 00:28:53,480 - Very smart, Vaishali. Very smart. - Thank you. 525 00:28:53,480 --> 00:28:54,960 What about your start-up? 526 00:28:55,040 --> 00:28:57,800 Did you continue with that company or shut it down? 527 00:28:57,880 --> 00:28:59,520 So, Farmse was the start-up. 528 00:28:59,640 --> 00:29:01,320 I started it 529 00:29:01,400 --> 00:29:04,160 with my childhood friend Raj who is also a CA. 530 00:29:04,360 --> 00:29:05,840 And he continues that. 531 00:29:05,920 --> 00:29:08,000 - Did you forgo your equity there? - Correct. 532 00:29:08,680 --> 00:29:11,680 Just the thought of what you guys are doing is exciting 533 00:29:11,760 --> 00:29:15,040 by using millet and a few new combinations. 534 00:29:15,480 --> 00:29:18,960 - So, maybe let's try your products. - Absolutely. 535 00:29:19,040 --> 00:29:21,560 Any time is a good time for mukhwas. 536 00:29:21,680 --> 00:29:23,640 You can give the whole thing to me. 537 00:29:23,760 --> 00:29:25,600 - Yes, the whole thing is for you. - Thank you. 538 00:29:26,280 --> 00:29:27,880 How nice! Can I have the whole thing? 539 00:29:27,960 --> 00:29:29,480 - Yes, it's for you. - Oh, nice. Wow! 540 00:29:29,560 --> 00:29:32,320 - We've customised it. - They personalised it. Nice. 541 00:29:32,400 --> 00:29:33,440 It's personalised, bro! 542 00:29:33,680 --> 00:29:35,520 I have Audio Escape written here. 543 00:29:35,720 --> 00:29:37,120 So, it's like a personalised thing. 544 00:29:37,200 --> 00:29:38,880 This will be over in an hour. 545 00:29:39,720 --> 00:29:40,880 This is so well done. 546 00:29:41,080 --> 00:29:42,520 [music playing] 547 00:29:44,480 --> 00:29:46,760 - The packaging is very nice. - Thank you. 548 00:29:58,640 --> 00:30:00,080 Almond Delight is scrumptious. 549 00:30:00,160 --> 00:30:02,560 It's delicious because you put almonds instead of betel nuts. 550 00:30:02,560 --> 00:30:04,200 Yes, we don't use any sugar, 551 00:30:04,280 --> 00:30:06,600 betel nuts or preservatives. That's our USP. 552 00:30:06,680 --> 00:30:07,520 Very innovative. 553 00:30:07,600 --> 00:30:09,320 - It's nice. - Is Sweet Neem good? 554 00:30:09,400 --> 00:30:11,000 - Yes, it is. - What's Dry Fruit Millet? 555 00:30:11,320 --> 00:30:12,720 It's a mixture of millet 556 00:30:12,840 --> 00:30:15,360 with coconut sugar, dry fruits and seeds. 557 00:30:15,440 --> 00:30:16,240 Okay. 558 00:30:16,320 --> 00:30:17,160 Tell me one thing. 559 00:30:17,240 --> 00:30:19,640 People keep munching on this all the time. 560 00:30:19,720 --> 00:30:21,120 Will it cause any harm? 561 00:30:21,800 --> 00:30:23,840 - No. - I'm really health-conscious. 562 00:30:23,920 --> 00:30:25,560 [all laugh] 563 00:30:26,440 --> 00:30:27,440 Why did you laugh 564 00:30:27,800 --> 00:30:29,480 - when I said that? - He's health-conscious too. 565 00:30:29,520 --> 00:30:31,240 - Yes, very nice. - I've to make this for him. 566 00:30:31,280 --> 00:30:32,280 Very good. 567 00:30:33,520 --> 00:30:36,880 The packaging is cool. It's cool and a little fun. 568 00:30:36,960 --> 00:30:38,160 - It's nice. - So, the idea was 569 00:30:38,200 --> 00:30:41,080 to give mukhwas a modern and new-age touch. 570 00:30:41,160 --> 00:30:42,800 So, we went with funky, 571 00:30:42,880 --> 00:30:45,920 but we've also kept the traditional Indian designs 572 00:30:46,000 --> 00:30:47,160 as you see on the top. 573 00:30:47,240 --> 00:30:48,360 Can I say something? 574 00:30:48,440 --> 00:30:51,360 I stayed in the US for a long time and came back a few years ago. 575 00:30:51,920 --> 00:30:55,840 I was researching on what businesses would do well in India in future. 576 00:30:56,240 --> 00:30:58,080 I had a thesis. 577 00:30:58,240 --> 00:31:01,560 There wouldn't be an Indian chewing gum company 578 00:31:01,680 --> 00:31:03,080 but an Indian mukhwas company. 579 00:31:03,840 --> 00:31:04,840 At that time, 580 00:31:04,920 --> 00:31:08,640 a few people ventured into the organised retail of mukhwas. 581 00:31:08,800 --> 00:31:10,720 There was a 'paan' chain. 582 00:31:10,800 --> 00:31:12,040 Then there was Milan Supari 583 00:31:12,120 --> 00:31:14,200 and I don't remember what the other one was. 584 00:31:15,360 --> 00:31:18,560 Chandan had opened stores everywhere and then shut them down. 585 00:31:18,680 --> 00:31:19,520 Yes! 586 00:31:19,600 --> 00:31:21,000 They had a variety of mukhwas 587 00:31:21,080 --> 00:31:24,080 and they had shops in malls and departmental stores 588 00:31:24,240 --> 00:31:25,800 but it didn't work out for some reason. 589 00:31:26,200 --> 00:31:27,840 What do you think happened? 590 00:31:28,760 --> 00:31:30,520 Why didn't it work in the organised sector? 591 00:31:30,640 --> 00:31:33,160 We did a lot of reflecting before starting this business. 592 00:31:33,760 --> 00:31:35,720 These brands are not ready to change. 593 00:31:35,840 --> 00:31:37,920 They still operate in the same traditional ways 594 00:31:38,000 --> 00:31:39,360 and they are happy to give sugar 595 00:31:39,480 --> 00:31:42,920 in whatever forms they want to and as unhygienic as they want. 596 00:31:43,160 --> 00:31:44,680 India is changing now, Anupam. 597 00:31:44,760 --> 00:31:46,800 - Right. - I think retailers also need to change. 598 00:31:46,960 --> 00:31:49,120 Those packets and transparent pouches 599 00:31:49,200 --> 00:31:51,760 like the kind Vaishali wore won't sell any more. 600 00:31:51,960 --> 00:31:53,400 So, there will be a play. 601 00:31:53,760 --> 00:31:55,920 Anupam, after the pandemic, what happened was 602 00:31:56,000 --> 00:31:59,400 that people became more health conscious 603 00:31:59,560 --> 00:32:00,920 and the organised sector... 604 00:32:01,000 --> 00:32:03,600 So, the total mouth freshener industry stands at Rs. 15,000 crores 605 00:32:10,440 --> 00:32:12,640 That's a big opportunity for us. 606 00:32:12,880 --> 00:32:14,600 We believe that Joyspoon 607 00:32:14,800 --> 00:32:16,920 is India's answer to global mouth fresheners, 608 00:32:17,000 --> 00:32:18,880 showcasing India's place in the market. 609 00:32:18,960 --> 00:32:21,280 Are there no organised players in Mukhwas? 610 00:32:21,360 --> 00:32:22,880 There is Chandan, Bullion... 611 00:32:23,000 --> 00:32:24,480 I am talking about the company 612 00:32:24,560 --> 00:32:27,200 that sells mouth fresheners in such bottles. 613 00:32:27,280 --> 00:32:30,000 - It's Chandan, Shadani, Bullion... - There are a lot. 614 00:32:30,080 --> 00:32:31,440 - Okay... - How big players are they? 615 00:32:31,480 --> 00:32:33,880 Bullion is approximately Rs. 100 crores. 616 00:32:34,000 --> 00:32:35,440 Shadani is Rs. 50-Rs. 60 crores. 617 00:32:35,520 --> 00:32:39,280 Chandan is similar. They are all traditionally built businesses. 618 00:32:39,760 --> 00:32:41,840 Rs. 5,000 crores is not a huge amount. 619 00:32:42,040 --> 00:32:43,680 80% being unorganised 620 00:32:44,160 --> 00:32:46,520 Rs. 4,000 crores is already out, leaving Rs. 1,000 crores. 621 00:32:46,760 --> 00:32:49,440 Who is the biggest player out of that and what is their revenue? 622 00:32:50,640 --> 00:32:52,880 - They earn the biggest revenue. - What is their revenue? 623 00:32:52,920 --> 00:32:54,720 I don't know the exact numbers, 624 00:32:54,760 --> 00:32:57,320 but their market is approximately Rs. 250 crores. 625 00:32:57,440 --> 00:33:00,200 As far as I know about the Mukhwas market, 626 00:33:00,560 --> 00:33:02,240 it is mostly 627 00:33:02,320 --> 00:33:04,560 sold in Paan shops. 628 00:33:04,640 --> 00:33:07,560 It is sold in sachets there, right? 629 00:33:07,680 --> 00:33:09,280 So, it's a sachet-based product. 630 00:33:09,520 --> 00:33:11,520 I am sure that out of Rs. 1,000 crores, 631 00:33:11,720 --> 00:33:14,640 - this company also sells sachets mostly. - Right! 632 00:33:14,880 --> 00:33:17,200 - That is the majority. - Do you have that SKU? 633 00:33:18,200 --> 00:33:20,080 We've launched sachets, 634 00:33:20,160 --> 00:33:23,120 But we are not selling to the paan shops currently. 635 00:33:23,200 --> 00:33:27,520 First, our short-term plan is to scale on quick commerce. 636 00:33:27,680 --> 00:33:30,560 Is that a good idea? I am not sure. I am asking 637 00:33:30,800 --> 00:33:32,920 because you have to create a category there. 638 00:33:33,360 --> 00:33:35,960 Here, there is an existing category. 639 00:33:36,080 --> 00:33:38,440 Recently, someone launched a mouth freshener. 640 00:33:38,520 --> 00:33:41,400 It was a candy. That is a Rs. 200 crore business. 641 00:33:41,520 --> 00:33:43,960 - Correct. - Because they used the existing network. 642 00:33:44,040 --> 00:33:45,760 - Pulse! It's Pulse. - Pulse. 643 00:33:46,160 --> 00:33:48,080 Why didn't you come up with a similar strategy? 644 00:33:48,160 --> 00:33:51,360 Where you could take these alternative products 645 00:33:51,480 --> 00:33:53,480 to the same distribution channel. 646 00:33:54,160 --> 00:33:57,160 Anupam, when we analysed online data 647 00:33:57,240 --> 00:33:59,360 on this category's engagement online, 648 00:33:59,600 --> 00:34:01,280 we found that people are actively searching for this product 649 00:34:01,320 --> 00:34:04,680 across platforms like Amazon and quick commerce. 650 00:34:04,880 --> 00:34:08,560 What's it that people aren't finding or is it that millennials and Gen Z 651 00:34:08,840 --> 00:34:11,240 aren't actively looking for it? The current Mukhwas options 652 00:34:11,320 --> 00:34:13,400 seem more suited for their parents 653 00:34:13,480 --> 00:34:17,360 or perhaps they associate this habit with older generations. 654 00:34:17,680 --> 00:34:19,760 If we make Mukhwas interesting, 655 00:34:19,840 --> 00:34:21,440 which we noticed in the last 11 months, 656 00:34:21,520 --> 00:34:24,960 people want such a product in the market. 657 00:34:25,040 --> 00:34:26,640 Once you start munching on it, 658 00:34:26,840 --> 00:34:29,960 you will regularly... Let's assume you reach the office at 11 am 659 00:34:30,160 --> 00:34:33,120 - and want to munch... - I understood. I would like to say 660 00:34:33,240 --> 00:34:36,080 that when you make sachets, even if it's for quick commerce, e-commerce, 661 00:34:36,240 --> 00:34:38,920 trying it becomes easy. You can carry it anywhere. 662 00:34:39,000 --> 00:34:41,440 To take this and decorate. 663 00:34:41,520 --> 00:34:43,320 This is offered when people visit on Diwali. 664 00:34:43,440 --> 00:34:45,360 But it is not something that you will use every day. 665 00:34:45,360 --> 00:34:46,600 - As far as I know. - So, we've created... 666 00:34:46,640 --> 00:34:48,080 Unless you use it as a snack. 667 00:34:48,160 --> 00:34:50,680 Unless you use it as a trail mix, right? 668 00:34:51,000 --> 00:34:52,280 If we look at it like a Mukhwas, 669 00:34:52,320 --> 00:34:54,320 it's not a consumable format according to me. 670 00:34:54,400 --> 00:34:56,480 That's why we've created an assorted box 671 00:34:56,560 --> 00:34:58,600 containing sachets of eight different flavours. 672 00:34:58,680 --> 00:35:01,760 We give you the sachets with our visiting cards in them. 673 00:35:01,960 --> 00:35:04,520 - We made sachets with eight different flavours. - This one. 674 00:35:04,600 --> 00:35:06,200 This is to let people try different flavours. 675 00:35:06,200 --> 00:35:09,120 We are certain that once they give it a try, they will buy the bottles. 676 00:35:09,320 --> 00:35:11,760 Yash and Vaishali, didn't you think 677 00:35:12,200 --> 00:35:13,760 that this category is quite restrictive? 678 00:35:14,680 --> 00:35:15,600 You are right, Aman. 679 00:35:15,680 --> 00:35:17,280 I believe that, in the long run, 680 00:35:17,360 --> 00:35:19,880 we don't want to limit the company to Rs. 100 crores. 681 00:35:19,960 --> 00:35:22,120 - We aim to scale it to Rs. 1,000 crores. - Wow! 682 00:35:22,400 --> 00:35:25,200 When we came up with the name Joyspoon, 683 00:35:25,440 --> 00:35:28,760 we were very intentional about not calling it Joyspoon Mukhwas 684 00:35:28,880 --> 00:35:30,400 or anything similar. 685 00:35:31,240 --> 00:35:33,760 In the future, when we cross Rs. 50,000 crores, 686 00:35:33,880 --> 00:35:36,600 - there is a lot to indulge in in this category in India. - Yeah! 687 00:35:36,720 --> 00:35:39,240 So, we will incorporate all of that 688 00:35:39,360 --> 00:35:41,000 and chart the journey from Rs. 100 crores to Rs. 1,000 crores. 689 00:35:41,040 --> 00:35:43,000 How much is this for? What is it priced at? 690 00:35:43,240 --> 00:35:46,160 The price range is Rs. 100-Rs. 250. 691 00:35:46,880 --> 00:35:50,040 - One bottle? - This one sachet is for Rs. 20. 692 00:35:50,480 --> 00:35:52,560 - Is this for Rs. 20? - We don't sell single sachets. 693 00:35:52,600 --> 00:35:53,520 Even so. 694 00:35:53,640 --> 00:35:56,240 Anupam, when we sell this individually to hotels, 695 00:35:56,320 --> 00:35:58,960 we sell it at Rs. 7-Rs. 8. 696 00:35:59,280 --> 00:36:01,240 - Per sachet? - Yeah! 697 00:36:01,320 --> 00:36:02,440 This is for Rs. 7? 698 00:36:02,720 --> 00:36:04,120 - Yeah! - No, Rs. 20. 699 00:36:09,320 --> 00:36:13,240 Those who operate at Rs. 1.2 per gram 700 00:36:13,360 --> 00:36:15,760 has 60% sugar. 701 00:36:27,640 --> 00:36:30,000 We will reduce it further in the future. 702 00:36:30,080 --> 00:36:31,480 What is your current price? 703 00:36:31,840 --> 00:36:33,280 - It's double. - Double? 704 00:36:34,120 --> 00:36:35,240 Compared to a certain brand. 705 00:36:35,840 --> 00:36:38,280 How much will the same size cost? 706 00:36:38,840 --> 00:36:39,880 Rs. 1 or Rs. 2. 707 00:36:40,000 --> 00:36:40,840 Rs. 1 or Rs. 2. 708 00:36:40,920 --> 00:36:42,240 You said you are two times more. 709 00:36:42,400 --> 00:36:43,440 That's not true. 710 00:36:44,320 --> 00:36:47,200 You are around 15x more expensive. 711 00:36:48,760 --> 00:36:49,760 You are doing two things. 712 00:36:49,800 --> 00:36:50,880 One is Mukhwas 713 00:36:51,000 --> 00:36:53,720 and the second one is trail mix or what you call munchies. 714 00:36:53,800 --> 00:36:56,960 - Nuts! - As far as I understand, they are two separate categories. 715 00:36:57,080 --> 00:36:58,520 Children or 716 00:36:58,600 --> 00:37:01,680 anyone who wants to have a mouth freshener, 717 00:37:01,800 --> 00:37:03,520 they won't eat these mostly 718 00:37:03,680 --> 00:37:05,640 which contains nuts and seeds. 719 00:37:05,720 --> 00:37:08,640 And health fanatics will find a substitute. 720 00:37:08,800 --> 00:37:10,640 - Yes! - But these markets are different. 721 00:37:10,720 --> 00:37:13,400 The other brand will not make a product 722 00:37:13,600 --> 00:37:15,800 - with seeds and grains, right? - Yes. 723 00:37:15,960 --> 00:37:18,400 - They are only capturing the mouth fresher market. - Correct. 724 00:37:18,960 --> 00:37:21,000 You are targeting two markets simultaneously, 725 00:37:21,080 --> 00:37:22,800 which is causing confusion. 726 00:37:22,880 --> 00:37:24,880 You're producing both sachets and bottles 727 00:37:25,000 --> 00:37:27,440 but haven't clearly defined the positioning. 728 00:37:28,040 --> 00:37:30,880 In India, Mukhwas has been around for many years, 729 00:37:31,000 --> 00:37:32,080 much like seven seeds. 730 00:37:32,160 --> 00:37:34,520 We are calling it a trail mix 731 00:37:34,600 --> 00:37:36,800 because we came across this term in Western countries. 732 00:37:36,960 --> 00:37:39,520 But Mukhwas is essentially a trail mix as well. 733 00:37:39,600 --> 00:37:42,080 Because it's a mixture of nuts and seeds in some way, 734 00:37:42,160 --> 00:37:44,440 the categories will overlap. 735 00:37:44,680 --> 00:37:47,280 But we are particularly focussed on Mukhwas. 736 00:37:48,120 --> 00:37:49,920 Share the revenue 737 00:37:50,000 --> 00:37:51,680 - achieved over 11 months. - Tell us about your business. 738 00:37:51,720 --> 00:37:53,360 Revenue, margin, 739 00:37:53,440 --> 00:37:55,720 EBITDA and cash flow. How many customers are purchasing... 740 00:37:55,800 --> 00:37:59,080 Also, supply chain. You manufacture it and make recipes as well. 741 00:37:59,320 --> 00:38:02,400 So, let me share the revenue for the last three months. 742 00:38:02,520 --> 00:38:04,800 In July, our revenue was approximately Rs. 5 lakhs. 743 00:38:04,880 --> 00:38:06,800 In August, it was Rs. 9.7 lakhs. 744 00:38:06,880 --> 00:38:08,760 In September, we've already crossed Rs. 13 lakhs 745 00:38:14,520 --> 00:38:16,160 we generated Rs. 38 lakhs. 746 00:38:16,360 --> 00:38:19,720 From April to July, growth was slightly flat 747 00:38:19,800 --> 00:38:21,240 as we were waiting for the new packaging, 748 00:38:21,240 --> 00:38:22,800 which launched on 1st August. 749 00:38:22,880 --> 00:38:24,400 What are the projections for this year? 750 00:38:25,000 --> 00:38:28,120 We will approximately close at Rs. 2.5 crores, 751 00:38:28,200 --> 00:38:31,200 that too because our quick commerce was recently finalised. 752 00:38:31,360 --> 00:38:33,920 By Diwali or shortly after, 753 00:38:34,000 --> 00:38:35,840 we will be live on all these platforms, 754 00:38:36,080 --> 00:38:37,640 which will drive our revenue growth. 755 00:38:38,120 --> 00:38:40,360 It is Rs. 17 lakhs currently, how much is the profit? 756 00:38:40,480 --> 00:38:42,520 Currently, we are burning Rs. 4 lakhs. 757 00:38:43,320 --> 00:38:44,520 How much is the marketing cost? 758 00:38:44,560 --> 00:38:45,560 Rs. 3.5 lakhs. 759 00:38:49,360 --> 00:38:50,520 Joyspoon Experience Store. 760 00:38:54,840 --> 00:38:56,360 Last month, it was 10%. 761 00:38:56,480 --> 00:38:57,480 Where is the rest from? 762 00:38:57,600 --> 00:38:59,520 35% of our sales is through the website. 763 00:38:59,640 --> 00:39:01,480 - Your own website? - Correct. 764 00:39:01,640 --> 00:39:04,040 10% is through online marketplaces. 765 00:39:04,120 --> 00:39:05,840 25% we do B2B. 766 00:39:05,920 --> 00:39:08,040 Used for gifting and wedding channels. 767 00:39:08,120 --> 00:39:09,960 And 30% of our business comes from offline channels. 768 00:39:09,960 --> 00:39:12,040 Of this, 10% is contributed by our store, 769 00:39:12,160 --> 00:39:14,520 while 20% comes from exhibitions and pop-ups. 770 00:39:14,640 --> 00:39:18,720 We have also started small-scale offline retail. 771 00:39:19,400 --> 00:39:22,800 What is the differentiation between you and the other company, 772 00:39:23,160 --> 00:39:24,240 according to you? 773 00:39:24,520 --> 00:39:26,000 Namita, the first differentiation is 774 00:39:26,080 --> 00:39:28,560 that they are just sugar balls and fennel seeds. 775 00:39:28,640 --> 00:39:29,640 We are not doing that. 776 00:39:29,720 --> 00:39:31,480 Our mouth fresheners and Mukhwas 777 00:39:31,560 --> 00:39:33,720 are better compared to those in the unorganised sector 778 00:39:33,800 --> 00:39:35,800 and are often made by women in boutique setups. 779 00:39:36,280 --> 00:39:37,960 Second, we believe... 780 00:39:45,320 --> 00:39:48,440 the habit of consuming it regularly. 781 00:39:48,640 --> 00:39:51,240 And that story we continue in all our communication. 782 00:39:51,320 --> 00:39:53,400 In fact, if you look at all our illustrations, 783 00:39:53,480 --> 00:39:55,600 it is on some or the other moment of joy. 784 00:39:55,800 --> 00:39:58,080 And the third one is the team we developed. 785 00:39:58,160 --> 00:39:59,880 Of course, my grandma and mom 786 00:40:00,040 --> 00:40:01,520 have contributed a lot. 787 00:40:01,640 --> 00:40:03,760 But other than that, we have a chief curator in place. 788 00:40:03,840 --> 00:40:05,760 We have a food technologist in place. 789 00:40:05,920 --> 00:40:08,000 In fact, our investors... 790 00:40:08,080 --> 00:40:10,160 One of the first investors was 100X.VC. 791 00:40:10,240 --> 00:40:13,000 And then we did a strategic round 792 00:40:13,120 --> 00:40:16,440 where we got participation from 50-year-old FMCG company 793 00:40:16,520 --> 00:40:18,040 in Gujarat, biggest in oils. 794 00:40:18,200 --> 00:40:20,400 He is extensive in offline. 795 00:40:20,600 --> 00:40:22,480 These connections we built 796 00:40:22,560 --> 00:40:23,760 with our own tea, of course. 797 00:40:23,840 --> 00:40:26,080 We have hired a team of 10 in Ahmedabad. 798 00:40:26,160 --> 00:40:27,880 How much percent do you both have? 799 00:40:28,120 --> 00:40:30,040 We have a total of 80% with us. 800 00:40:30,560 --> 00:40:33,280 We've given 2% to Raj 801 00:40:33,360 --> 00:40:36,760 because we generally thought he owned this. 802 00:40:37,440 --> 00:40:38,480 Who is Raj? 803 00:40:38,560 --> 00:40:40,760 The one with whom I started Farmse, Anupam. 804 00:40:40,880 --> 00:40:43,080 - Understood. - You gave him 2%. What about the remaining 18%? 805 00:40:43,120 --> 00:40:44,640 100X.VC owns 15%. 806 00:40:44,720 --> 00:40:46,280 You must have offered it based on their standard terms. 807 00:40:46,320 --> 00:40:47,680 - At what valuation? - Standard terms. 808 00:40:47,720 --> 00:40:50,880 Rs. 1.25 crores at Rs. 8.3 post-money. 809 00:40:51,120 --> 00:40:54,320 We raised this in September 2023. 810 00:40:54,400 --> 00:40:57,080 Rs. 1.25 crores at a valuation of Rs. 8.3 crores. 811 00:40:57,160 --> 00:40:59,440 We did another strategic round in June 812 00:40:59,520 --> 00:41:01,240 with the strategic person. 813 00:41:01,360 --> 00:41:04,120 We had a good investor from Surat. The director 814 00:41:04,240 --> 00:41:06,160 - of IVY Growth Associates. - What was the valuation? 815 00:41:06,160 --> 00:41:09,440 - We did that round at a post-money valuation of Rs. 18 crores. - Wow! 816 00:41:09,520 --> 00:41:10,400 How much did you raise? 817 00:41:10,520 --> 00:41:12,840 - We raised Rs 56 lakhs more. - When was this? 818 00:41:12,920 --> 00:41:14,480 - June... - 2024. 819 00:41:19,520 --> 00:41:22,920 the packaging and launching it over the past three months, 820 00:41:23,040 --> 00:41:24,680 the response has been phenomenal. 821 00:41:24,800 --> 00:41:27,640 - In fact... - In the last three months, have sales increased by 50%? 822 00:41:27,720 --> 00:41:28,840 It has gone 4 times, Anupam. 823 00:41:28,920 --> 00:41:30,240 - In the last three months? - Yes! 824 00:41:30,320 --> 00:41:33,840 It doesn't matter. Your exit is Rs. 2.5 crores, right? 825 00:41:33,960 --> 00:41:35,880 - It went from Rs. 5 lakhs to Rs. 17 lakhs. - At Rs. 2.5 crores, 826 00:41:35,920 --> 00:41:38,720 how are you asking for a valuation of Rs. 26 crores? 827 00:41:38,800 --> 00:41:40,280 Ten times sales! 828 00:41:41,040 --> 00:41:43,920 Those who have joined us 829 00:41:44,000 --> 00:41:47,280 are the veterans in the industry. They saw something 830 00:41:47,480 --> 00:41:49,600 in our execution capabilities. 831 00:41:49,680 --> 00:41:51,680 If you had seen the product 832 00:41:51,800 --> 00:41:53,400 with its old packaging 833 00:41:53,520 --> 00:41:55,440 and then witnessed the transformation, 834 00:41:55,520 --> 00:41:57,440 we noticed the growth in revenue. 835 00:41:57,520 --> 00:41:59,720 This change also strengthened investor confidence in us. 836 00:42:00,120 --> 00:42:03,280 Also, our product got approved by airlines also. 837 00:42:12,680 --> 00:42:15,240 We showed them the product and cracked them 838 00:42:15,320 --> 00:42:18,880 and investors were confident that we can grow this. 839 00:42:18,960 --> 00:42:22,600 We have launched our offline pilot in Ahmedabad, Surat, and Mumbai. 840 00:42:34,600 --> 00:42:37,800 we'll begin implementing the same playbook and expand city by city. 841 00:42:38,440 --> 00:42:40,760 Just like what Kerala Banana Chips did 842 00:42:40,840 --> 00:42:42,880 successfully through that model. 843 00:42:43,520 --> 00:42:46,680 Yash and Vaishali, it was great talking to you. 844 00:42:46,760 --> 00:42:48,400 I feel uncomfortable saying no, 845 00:42:50,280 --> 00:42:53,560 but I believe your losses are significant. 846 00:42:54,520 --> 00:42:57,560 Aman, I'm stopping you right there because you mentioned losses. 847 00:42:57,640 --> 00:42:59,280 Out of the Rs. 4.5 lakh loss, 848 00:42:59,360 --> 00:43:00,760 Rs. 3 lakhs go towards our team, 849 00:43:00,920 --> 00:43:02,440 and both of us take Rs. 1 lakh. 850 00:43:04,600 --> 00:43:06,680 You started four businesses before boAt 851 00:43:06,760 --> 00:43:08,400 and no one talks about that. 852 00:43:08,520 --> 00:43:12,280 But we know that I couldn't scale it in Farmse. 853 00:43:12,440 --> 00:43:13,600 People know that. 854 00:43:13,720 --> 00:43:16,520 But Joyspoon is going to be a success story and we'll make it. 855 00:43:16,680 --> 00:43:18,720 - I hope... - When it comes to speakers, people think of boAt. 856 00:43:18,720 --> 00:43:20,320 Similarly, people will think of Joyspoon when it comes to Mukhwas. 857 00:43:20,360 --> 00:43:21,640 - I am sure. - I guarantee. 858 00:43:21,720 --> 00:43:23,160 - What enthusiasm! - Very good! 859 00:43:23,280 --> 00:43:25,640 - Full marks for that. - I am certain you will do it. 860 00:43:25,720 --> 00:43:26,800 You will do much better. 861 00:43:26,880 --> 00:43:29,600 You just mentioned that you have investors. 862 00:43:29,760 --> 00:43:31,720 We have even secured a valuation of Rs. 18 crores. 863 00:43:31,800 --> 00:43:35,480 I don't think it's fair to negotiate with you over valuation. 864 00:43:35,560 --> 00:43:36,920 That is quite high. 865 00:43:37,360 --> 00:43:40,480 Unfortunately, I can't join you in this category. 866 00:43:40,680 --> 00:43:41,680 Forgive me, but I am out. 867 00:43:41,760 --> 00:43:43,360 - No! Thank you! - Thank you, Aman! 868 00:43:44,520 --> 00:43:47,680 It's great to see that someone is trying to bring 869 00:43:48,080 --> 00:43:50,200 my long-held thesis to life. 870 00:43:51,120 --> 00:43:54,560 I always strongly believed that I would find a company 871 00:43:54,640 --> 00:43:55,880 that would build a big business in this space, 872 00:43:55,920 --> 00:43:57,240 - and I would invest in it. - It's here. 873 00:43:57,280 --> 00:43:58,800 And then... 874 00:43:58,920 --> 00:44:01,280 It has arrived, but perhaps I am unable to recognise it. 875 00:44:01,880 --> 00:44:04,240 - They don't give up. - I've realised that Mukhwas 876 00:44:04,560 --> 00:44:07,160 is an on-the-go, impulse product, 877 00:44:07,400 --> 00:44:09,760 making it challenging to establish it as a branded offering. 878 00:44:10,800 --> 00:44:12,160 In companies like these, 879 00:44:12,280 --> 00:44:15,240 unless you own around 20%, 880 00:44:15,720 --> 00:44:18,320 exiting and ensuring returns... 881 00:44:18,520 --> 00:44:21,120 I mean, making money on money invested becomes difficult. 882 00:44:21,280 --> 00:44:23,280 Even if you return 10x, how much will you make? 883 00:44:24,040 --> 00:44:26,800 At some point, it doesn't make sense for my time and my cap. 884 00:44:27,200 --> 00:44:29,080 For that reason, I am out. Good luck. 885 00:44:29,160 --> 00:44:31,840 Give my regards to your grandma and mom. All the best. 886 00:44:32,160 --> 00:44:34,240 - Thank you, Anupam! - I want to give you a feedback. 887 00:44:34,240 --> 00:44:36,800 You are mixing two things. 888 00:44:38,000 --> 00:44:41,720 Mukhwas, especially for Gujaratis and many others, 889 00:44:42,000 --> 00:44:44,080 is a comfort food, right? 890 00:44:44,280 --> 00:44:47,320 It's meant to be eaten in a certain way. 891 00:44:47,960 --> 00:44:50,040 But you're adding neem, 892 00:44:50,280 --> 00:44:53,000 nuts, and other ingredients, 893 00:44:53,440 --> 00:44:55,440 it doesn't go 894 00:44:55,680 --> 00:44:56,840 in that direction. 895 00:44:56,920 --> 00:44:59,080 For that reason, I am out. 896 00:45:00,120 --> 00:45:01,160 - Thank you! - Thank you! 897 00:45:01,560 --> 00:45:05,600 The biggest problem I see in your company is that, 898 00:45:05,840 --> 00:45:07,360 in Ahmedabad, 899 00:45:07,480 --> 00:45:09,560 where I have a couple of startups. I've noticed 900 00:45:09,640 --> 00:45:11,600 a strong community of investors. 901 00:45:12,560 --> 00:45:15,400 It's great to support companies. 902 00:45:15,480 --> 00:45:18,840 But in this case, for example, your valuation was Rs. 8 crores. 903 00:45:20,000 --> 00:45:22,520 - How much is it now? - Rs. 18 crores. 904 00:45:22,600 --> 00:45:24,400 You already secured Rs. 18 crores. 905 00:45:24,560 --> 00:45:26,040 Now, your valuation is Rs. 24 crores. 906 00:45:26,120 --> 00:45:28,480 If investors don't see returns, they won't stay. 907 00:45:29,680 --> 00:45:32,680 Now in this chicken and egg problem and you're not the only one. 908 00:45:33,200 --> 00:45:34,960 Many companies find themselves stuck in this loop. 909 00:45:35,000 --> 00:45:36,520 It is tough to get out of this. 910 00:45:37,040 --> 00:45:39,560 Because of that, it makes it very difficult... 911 00:45:39,640 --> 00:45:41,480 But Peyush, to have you guys on board, 912 00:45:41,560 --> 00:45:44,440 I would really like you to consider it and make 913 00:45:44,840 --> 00:45:46,720 - a decision if possible. - I am out. 914 00:45:46,800 --> 00:45:49,520 Because I've seen how messy it can get. 915 00:45:49,680 --> 00:45:52,000 You have too many investors at different valuations. 916 00:45:52,120 --> 00:45:53,160 Everyone has their own goals. 917 00:45:53,200 --> 00:45:55,400 Otherwise, keep working. Best of luck. 918 00:45:55,960 --> 00:45:56,960 First of all, 919 00:45:57,080 --> 00:46:00,720 your story of dating for 11 years is my story too. 920 00:46:00,800 --> 00:46:02,520 I met 921 00:46:02,960 --> 00:46:05,560 my then girlfriend, now my wife, 11 years ago. 922 00:46:05,760 --> 00:46:06,760 I often wonder 923 00:46:06,840 --> 00:46:08,800 what it would have been like if we had built a business together. 924 00:46:08,800 --> 00:46:11,120 Seeing you both, I feel like this is probably how it would have been. 925 00:46:11,120 --> 00:46:13,680 And maybe we would have even named our baby Joyspoon! 926 00:46:14,960 --> 00:46:16,920 But currently your business... 927 00:46:17,360 --> 00:46:19,280 My colleagues mentioned 928 00:46:19,600 --> 00:46:21,200 that it's in a unique position, 929 00:46:21,600 --> 00:46:24,120 where you could either be a trail mix brand 930 00:46:24,200 --> 00:46:27,000 and you can call it snacks or whatever you like. 931 00:46:27,280 --> 00:46:28,800 The premium category 932 00:46:28,880 --> 00:46:30,960 is not a big market currently in India. 933 00:46:31,640 --> 00:46:34,040 Say that you want to grow that market. 934 00:46:34,120 --> 00:46:35,480 That is a segment. 935 00:46:35,720 --> 00:46:38,880 Over there our strength would be that we'll make a D2C brand, 936 00:46:38,960 --> 00:46:42,400 and tell our customers why they want this category and things like this. 937 00:46:43,240 --> 00:46:45,280 Similarly, you can create one more category 938 00:46:45,360 --> 00:46:47,120 that is from Pulse... 939 00:46:47,720 --> 00:46:49,720 There is a popular line from Jeff Bezos. 940 00:46:50,240 --> 00:46:52,280 Your margin is my opportunity. 941 00:46:52,800 --> 00:46:55,160 If you are selling for Rs. 2, 942 00:46:55,400 --> 00:46:59,760 we will give you a better product for around Rs. 1.75. 943 00:47:00,360 --> 00:47:04,800 But the way to make that category and investment is different. 944 00:47:04,920 --> 00:47:06,440 I was trying 945 00:47:06,520 --> 00:47:09,600 to understand your decision and the direction you want to take. 946 00:47:09,680 --> 00:47:13,400 Ritesh, we might be here and there as everyone mentioned. 947 00:47:13,520 --> 00:47:16,200 But with your support and guidance, 948 00:47:16,280 --> 00:47:19,080 we believe we can scale this to Rs. 100 crores or even Rs. 1000 crores. 949 00:47:19,280 --> 00:47:22,240 If you look at it from that perspective, we are open 950 00:47:22,320 --> 00:47:24,240 to making the necessary changes. 951 00:47:24,320 --> 00:47:26,760 What we have built so far comes from our experience, 952 00:47:26,960 --> 00:47:29,240 what we have learned over the last 4-5 years, 953 00:47:29,400 --> 00:47:31,440 and, of course, her mom helped. 954 00:47:31,600 --> 00:47:32,720 We have implemented that. 955 00:47:32,800 --> 00:47:35,320 But there is an opportunity 956 00:47:35,400 --> 00:47:38,040 for this in hotels as well. 957 00:47:38,160 --> 00:47:40,080 My vision is also 958 00:47:40,240 --> 00:47:43,720 to give a sachet of Mukhwas with a coffee sachet in every room. 959 00:47:44,680 --> 00:47:47,040 So, we will look at the inputs... 960 00:47:47,120 --> 00:47:49,040 Let him give you his decision. 961 00:47:49,200 --> 00:47:53,440 Fortunately or unfortunately, you managed 962 00:47:53,720 --> 00:47:55,960 to change my decision. I had initially decided 963 00:47:56,440 --> 00:47:59,080 not to invest in your company. 964 00:47:59,720 --> 00:48:01,360 But you are nudging me, 965 00:48:01,720 --> 00:48:05,120 so I believe 966 00:48:05,920 --> 00:48:07,680 I can make a conditional offer for you. 967 00:48:07,800 --> 00:48:09,600 - That is great. - Okay. 968 00:48:10,120 --> 00:48:11,640 The conditional offer is that 969 00:48:12,200 --> 00:48:14,320 if you decide to fully commit 970 00:48:14,760 --> 00:48:18,280 to the Mukhwas category 971 00:48:18,360 --> 00:48:21,400 and focus on capturing market share within it, 972 00:48:28,840 --> 00:48:31,000 but I will take 2% equity instead of 1.5%. 973 00:48:37,360 --> 00:48:38,800 Decide now! 974 00:48:45,880 --> 00:48:48,520 - So, Ritesh! Let's do it! - Deal done! 975 00:48:57,960 --> 00:48:59,360 'It's my deal!' 976 00:48:59,760 --> 00:49:00,760 Come! 977 00:49:12,200 --> 00:49:13,200 - Have fun! - Bye! 978 00:49:13,920 --> 00:49:18,040 'I think no other show in India can offer what Shark Tank is providing.' 979 00:49:18,320 --> 00:49:22,320 The confidence... We've definitely pitched at many places. 980 00:49:22,520 --> 00:49:23,960 But the preparation that went into this... 981 00:49:23,960 --> 00:49:25,880 We never prepared so much. 982 00:49:25,960 --> 00:49:28,000 Being able to pitch on such a big platform, 983 00:49:28,120 --> 00:49:30,440 in front of people who have built successful businesses, 984 00:49:30,520 --> 00:49:32,560 is the kind of opportunity that Shark Tank provides. 985 00:49:32,840 --> 00:49:34,240 I am forever grateful for this. 986 00:49:34,320 --> 00:49:37,920 There are some categories that require a long and grinding journey. 987 00:49:38,000 --> 00:49:41,960 If you don't own around 15% and instead hold just 1.5% 988 00:49:42,120 --> 00:49:43,680 at these valuations, it will be 989 00:49:43,760 --> 00:49:46,200 - very hard to make money. - Rs. 40 lakhs won't change much. 990 00:49:46,280 --> 00:49:47,800 If any entrepreneur comes here, 991 00:49:47,920 --> 00:49:50,320 in a way, what you're doing isn't right. 992 00:49:50,400 --> 00:49:51,520 You invest in any entrepreneur. 993 00:49:51,560 --> 00:49:53,440 You are right! Listen to my perspective. 994 00:49:53,520 --> 00:49:56,040 The founders were exciting, no one had issues with them. 995 00:49:56,640 --> 00:49:57,920 The category is interesting. 996 00:49:58,000 --> 00:49:59,720 A couple of Sharks felt... 997 00:49:59,800 --> 00:50:01,560 I am not sure if everybody felt that way. 998 00:50:01,640 --> 00:50:02,920 But there were some who did feel that way. 999 00:50:02,920 --> 00:50:04,000 My view is, 1000 00:50:04,400 --> 00:50:07,120 as Anupam said, these companies need a 10-year grind. 1001 00:50:07,760 --> 00:50:10,920 If the company performs well, there will be high spikes, 1002 00:50:11,240 --> 00:50:12,960 and then I'll enjoy the upside. 1003 00:50:13,320 --> 00:50:14,920 But if challenges arise, 1004 00:50:15,320 --> 00:50:16,640 I'll bear the biggest risk. Why? 1005 00:50:16,720 --> 00:50:19,400 Because I'll have to invest more capital to increase my ownership. 1006 00:50:19,720 --> 00:50:20,960 That's how I see it. 1007 00:50:21,360 --> 00:50:22,880 - Hello, friends! - Hello! 1008 00:50:23,000 --> 00:50:24,560 - How are you? - Full of joy! 1009 00:50:24,680 --> 00:50:25,680 Full of joy? 1010 00:50:25,760 --> 00:50:26,760 Very nice! 1011 00:50:26,800 --> 00:50:27,920 I watched your pitch. 1012 00:50:33,960 --> 00:50:36,680 I want to have lunch that only has Mukhwas 1013 00:50:36,720 --> 00:50:38,400 and then drink a spoonful of dal. 1014 00:50:38,560 --> 00:50:41,520 Okay! That should be the diet. Amazing job! 1015 00:50:41,600 --> 00:50:43,720 Both of you have been dating for a long time. 1016 00:50:43,800 --> 00:50:45,720 I felt a homely connection in your pitch. 1017 00:50:45,880 --> 00:50:48,040 I was thinking of ordering interesting gifts for you. 1018 00:50:48,320 --> 00:50:50,240 I opened Swiggy Instamart, ordered gifts 1019 00:50:50,280 --> 00:50:51,920 and they arrived in 10 minutes. 1020 00:50:53,080 --> 00:50:54,120 Thank you so much. 1021 00:50:54,280 --> 00:50:56,920 - This is for you. It has things for home decor. - Thank you. 1022 00:50:57,000 --> 00:50:59,240 There are wall hangings, lamps and lights. Okay? 1023 00:50:59,320 --> 00:51:02,040 Please enjoy and make your house more lively as you are. 1024 00:51:02,160 --> 00:51:03,160 - Thank you! - Thank you! 1025 00:51:03,760 --> 00:51:06,160 Don't let loneliness take up space in your life. 1026 00:51:06,360 --> 00:51:08,560 Order what you want from Swiggy Instamart. 1027 00:51:08,640 --> 00:51:11,120 The order is delivered in 10 minutes and you get almost everything. 1028 00:51:11,120 --> 00:51:12,240 Order now. 1029 00:51:12,920 --> 00:51:15,840 'Shark Tank India, co-presented by ACKO Insurance, 1030 00:51:15,920 --> 00:51:18,000 'PokerBaazi and Swiggy Instamart.' 1031 00:51:18,080 --> 00:51:20,680 'Co-powered by Adani and Jaquar Bath and Light.' 1032 00:51:20,800 --> 00:51:23,840 'And partners, Rayzon Solar, ICICI Direct, ' 1033 00:51:24,000 --> 00:51:25,560 'Lenskart and Sofy.' 1034 00:51:25,680 --> 00:51:27,480 [music playing] 1035 00:51:36,280 --> 00:51:38,640 [theme music playing] 1036 00:51:51,440 --> 00:51:53,120 We are from Bengaluru. 1037 00:51:53,960 --> 00:51:57,800 Sharks, I spent the first 10 years of my life in a Hindi-medium school. 1038 00:51:58,520 --> 00:52:00,960 After that, I shifted to an English-medium school. 1039 00:52:01,040 --> 00:52:04,120 And I didn't even realise when 'Bhugol' became 'Geography'. 1040 00:52:04,560 --> 00:52:07,000 One language transformed my life. 1041 00:52:07,600 --> 00:52:10,360 Whatever little English I knew, I used up in the first period itself. 1042 00:52:10,680 --> 00:52:12,600 After that? Complete silence. 1043 00:52:13,320 --> 00:52:14,920 Sharks, this is my story, 1044 00:52:15,240 --> 00:52:17,480 but today, 9 out of 10 children in India 1045 00:52:17,720 --> 00:52:19,640 struggle to read and speak English. 1046 00:52:23,760 --> 00:52:26,400 in the grand theatre of life, only those with good English 1047 00:52:26,760 --> 00:52:28,080 are getting cast. 1048 00:52:28,880 --> 00:52:31,640 Sharks, do you know 85% of corporates 1049 00:52:31,720 --> 00:52:34,080 prefer English-speaking candidates. 1050 00:52:43,880 --> 00:52:45,160 to ensure 1051 00:52:45,320 --> 00:52:48,240 that no child is limited by lack of good English 1052 00:52:48,320 --> 00:52:50,760 and they get a very good start in life. 1053 00:52:51,680 --> 00:52:52,920 Bambinos.live 1054 00:52:53,040 --> 00:52:56,040 is a live, online English learning platform 1055 00:52:56,120 --> 00:52:58,000 for children aged 4-12 years. 1056 00:53:11,000 --> 00:53:13,880 India's highest-rated education brand. 1057 00:53:14,040 --> 00:53:16,400 I can assure you 1058 00:53:16,520 --> 00:53:19,160 that Bambinos.live is an edtech platform 1059 00:53:19,240 --> 00:53:21,360 that all the Sharks can trust. 1060 00:53:21,600 --> 00:53:24,720 And for that, our ask is Rs. 1 crore for 1% equity. 1061 00:53:28,560 --> 00:53:31,360 to educate and shape young minds 1062 00:53:40,600 --> 00:53:44,200 - Gaurav and Ashish, welcome to Shark Tank. - Thank you. 1063 00:53:44,720 --> 00:53:48,800 A lot of people are starting to appreciate it. 1064 00:53:48,960 --> 00:53:51,400 - Yes! - Okay! For regional languages. 1065 00:53:52,280 --> 00:53:56,520 India is gradually leaning towards regional languages. 1066 00:53:56,840 --> 00:53:57,880 Do you agree with that? 1067 00:53:58,080 --> 00:54:02,520 Namita, I believe regional language plays a crucial role 1068 00:54:02,680 --> 00:54:03,960 in building a direct connection. 1069 00:54:04,040 --> 00:54:05,520 But having good English 1070 00:54:05,880 --> 00:54:07,840 gives you an edge 1071 00:54:07,920 --> 00:54:10,720 and helps reach your full potential. 1072 00:54:10,920 --> 00:54:12,080 Very well said. 1073 00:54:12,880 --> 00:54:15,400 Our IT export 1074 00:54:15,720 --> 00:54:19,480 and domestic combined exceeds 200 billion dollars, 1075 00:54:19,560 --> 00:54:22,440 directly employing 10-15 million people, 1076 00:54:22,520 --> 00:54:25,040 with another 50-60 million dependent on them. 1077 00:54:25,120 --> 00:54:26,840 - And they run the entire economy. - Yeah. 1078 00:54:26,920 --> 00:54:29,920 I think it's been a great strength for our country, and I believe 1079 00:54:30,080 --> 00:54:32,200 - that global business language is English. - That's right. 1080 00:54:32,240 --> 00:54:34,200 - And every child should know. - That's right. 1081 00:54:34,440 --> 00:54:37,360 I saw children who completed their education from normal schools, 1082 00:54:37,640 --> 00:54:39,640 - but they can't speak English. - Yeah! 1083 00:54:39,800 --> 00:54:41,600 Right? They complete 11th and 12th grade. 1084 00:54:41,760 --> 00:54:44,280 - They don't get a job because they can't speak English. - Yeah! 1085 00:54:44,480 --> 00:54:46,520 And I have seen a lot of kids. 1086 00:54:46,800 --> 00:54:48,680 - I run an evening class. - Yeah! 1087 00:54:49,240 --> 00:54:51,800 For 12th pass and college graduates, 1088 00:54:52,120 --> 00:54:54,200 just to teach them English. And I have seen, 1089 00:54:54,520 --> 00:54:55,640 knowing English 1090 00:54:56,280 --> 00:54:57,480 and not knowing English 1091 00:54:57,560 --> 00:54:59,160 can change their job profile. 1092 00:54:59,600 --> 00:55:01,920 What problem are you tackling? 1093 00:55:02,000 --> 00:55:04,160 Education is a significant issue in India. 1094 00:55:04,240 --> 00:55:07,720 In my interviews with many young people, 1095 00:55:07,880 --> 00:55:10,880 I've observed that if their education 1096 00:55:10,960 --> 00:55:12,160 hasn't been strong, 1097 00:55:12,240 --> 00:55:14,560 they end up facing challenges. 1098 00:55:15,000 --> 00:55:17,480 And the foundation they start with limits their potential, 1099 00:55:17,560 --> 00:55:20,480 making it difficult for them to reach their full potential in life. 1100 00:55:20,760 --> 00:55:22,960 Their base starts from a low level. 1101 00:55:23,080 --> 00:55:25,600 I believe that has more to do with their schooling. 1102 00:55:25,880 --> 00:55:27,800 In K-12 education, there's a need for innovation. 1103 00:55:27,840 --> 00:55:29,520 When I look at investments outside of India, 1104 00:55:29,560 --> 00:55:31,760 most of them focus 1105 00:55:31,840 --> 00:55:34,320 on foundational levels of education for children. 1106 00:55:34,400 --> 00:55:36,400 I believe this is an opportunity 1107 00:55:36,480 --> 00:55:38,880 I'm passionate about and truly understand. 1108 00:55:39,360 --> 00:55:40,960 You started this business. 1109 00:55:41,040 --> 00:55:43,800 - You shared your story that you studied in Hindi medium. - Yeah! 1110 00:55:43,880 --> 00:55:46,920 Share your story and tell me how you started this business. 1111 00:55:47,000 --> 00:55:48,240 What did you do before this? 1112 00:55:48,320 --> 00:55:49,720 I was born and raised in Chandigarh. 1113 00:55:50,360 --> 00:55:53,320 I did my engineering from Punjab College and MBA from IIM Calcutta. 1114 00:56:02,040 --> 00:56:04,360 After that, I spent two years in startups, 1115 00:56:04,440 --> 00:56:05,640 including a year at Curefit. 1116 00:56:05,720 --> 00:56:08,720 After that, I reached a point in life 1117 00:56:08,800 --> 00:56:11,200 where entrepreneurship became my main driving force. 1118 00:56:11,520 --> 00:56:14,360 Education is my strong passion. 1119 00:56:14,600 --> 00:56:16,920 I've known Gaurav for the last 20 years. 1120 00:56:17,000 --> 00:56:18,480 We are both from Chandigarh. 1121 00:56:18,560 --> 00:56:20,520 He was a mentor at one point in life. 1122 00:56:21,040 --> 00:56:23,480 I graduated from IIM Calcutta in 1998. 1123 00:56:29,800 --> 00:56:31,280 After that, I worked on an assignment with Cartoon Network. 1124 00:56:31,280 --> 00:56:34,480 In my last assignment, I was a CEO at EuroKids Preschool. 1125 00:56:34,560 --> 00:56:38,160 We had around 1,200 schools and 80,000 students 1126 00:56:38,400 --> 00:56:41,240 and we successfully achieved an exit from it. 1127 00:56:41,720 --> 00:56:43,720 Let me go back in time 1128 00:56:43,800 --> 00:56:46,680 to when I was at Disney, we were also handling Disney Publishing. 1129 00:56:47,280 --> 00:56:49,080 What I learnt was... 1130 00:56:49,160 --> 00:56:51,480 We did something similar at Cartoon Network. 1131 00:56:51,640 --> 00:56:55,760 We should focus on both engagement and education for kids. 1132 00:56:55,960 --> 00:56:59,400 And I reached a point where I wanted to do something on my own. 1133 00:56:59,480 --> 00:57:02,160 And I like Ashish's idea. 1134 00:57:02,320 --> 00:57:04,200 We started working on it and then 1135 00:57:04,600 --> 00:57:07,320 - here we are. - What idea did Ashish pitch? 1136 00:57:07,440 --> 00:57:09,920 When we started, our idea was 1137 00:57:10,600 --> 00:57:13,520 in its early stages, where we wanted to focus on the children's sector. 1138 00:57:13,600 --> 00:57:16,000 To do something in education. 1139 00:57:16,480 --> 00:57:18,760 Gaurav has experience in EuroKids. 1140 00:57:18,840 --> 00:57:21,960 He has looked at the space that we are creating 1141 00:57:22,040 --> 00:57:23,560 in depth. 1142 00:57:23,840 --> 00:57:25,760 Early literacy skills are very important. 1143 00:57:25,840 --> 00:57:28,960 In today's day, it does not hold as much importance as abroad. 1144 00:57:29,040 --> 00:57:30,960 There's a lot of investment happening in this area. 1145 00:57:31,000 --> 00:57:33,120 Even in native English-speaking countries, 1146 00:57:33,200 --> 00:57:35,000 where significant investment is being made 1147 00:57:35,120 --> 00:57:36,440 in reading and writing skills. 1148 00:57:36,520 --> 00:57:39,840 Our vision is that the companies that are abroad 1149 00:57:39,960 --> 00:57:42,480 charge 20-25 dollars per hour for tutoring. 1150 00:57:50,560 --> 00:57:52,000 They want an affordable solution too. 1151 00:57:52,160 --> 00:57:53,720 For this to become a business, 1152 00:57:53,800 --> 00:57:56,800 it can only happen in India because the supply is here. 1153 00:57:56,960 --> 00:57:58,360 There are four markets in the world. 1154 00:57:58,520 --> 00:57:59,800 India, along with North America, 1155 00:57:59,920 --> 00:58:02,600 Europe, and Southeast Asia. 1156 00:58:02,680 --> 00:58:06,400 In every region, there are established edtech companies 1157 00:58:06,560 --> 00:58:09,360 in the ESL category. This is called ESL category. 1158 00:58:09,560 --> 00:58:12,000 It's generating a revenue of around 500 million. 1159 00:58:12,240 --> 00:58:14,920 India, which constitutes one-fifth of the world's population, 1160 00:58:15,000 --> 00:58:16,600 currently lacks a leading company in this space. 1161 00:58:16,600 --> 00:58:17,920 - English-speaking oriented. - Yes. 1162 00:58:17,920 --> 00:58:21,520 Every region has around 2-3 strong companies, 1163 00:58:21,600 --> 00:58:23,240 but India has none. 1164 00:58:23,480 --> 00:58:27,080 We believe Bambinos can achieve that position. 1165 00:58:27,840 --> 00:58:29,560 It will take a long-term commitment, 1166 00:58:29,640 --> 00:58:31,240 but it has great potential. 1167 00:58:31,400 --> 00:58:33,720 Why did you want to focus on children? 1168 00:58:33,800 --> 00:58:36,200 I had a strong passion for education. 1169 00:58:36,760 --> 00:58:40,080 When I was in Curefit, we launched 1170 00:58:40,160 --> 00:58:41,880 CultFit for kids. 1171 00:58:41,960 --> 00:58:44,000 It gave us a deeper insight. 1172 00:58:44,240 --> 00:58:48,160 There is an opportunity, parents are getting aspirational. 1173 00:58:48,240 --> 00:58:50,680 They want to develop their kids and the middle class is expanding. 1174 00:58:50,720 --> 00:58:54,160 They are not focused on making their children doctors and engineers. 1175 00:58:54,240 --> 00:58:56,400 They are looking at more skills. 1176 00:58:56,520 --> 00:58:58,120 We got an insight that 1177 00:58:58,200 --> 00:58:59,920 they are willing to spend a good amount of money 1178 00:58:59,960 --> 00:59:01,240 that they are ready to spend. 1179 00:59:01,720 --> 00:59:04,600 Secondly, as society progresses, 1180 00:59:04,880 --> 00:59:07,880 we felt the need to create something digital... 1181 00:59:07,960 --> 00:59:09,360 Which year was this? 1182 00:59:09,680 --> 00:59:11,760 This is around 2021. 1183 00:59:11,880 --> 00:59:13,680 Back then, there was a surge in edtech 1184 00:59:13,760 --> 00:59:15,160 - that's when you decided to venture into it. - No! 1185 00:59:15,200 --> 00:59:17,480 - We launched before that. - No, it was before that. 1186 00:59:18,200 --> 00:59:19,960 Let's understand your business. 1187 00:59:20,080 --> 00:59:22,840 - Because a lot of them fail to execute. - Yes. 1188 00:59:22,920 --> 00:59:26,040 To evaluate execution, we need to understand 1189 00:59:26,120 --> 00:59:27,560 precisely what you are doing. 1190 00:59:28,480 --> 00:59:31,840 Sharks, I'll give you a quick demo of our website. 1191 00:59:32,000 --> 00:59:35,080 And then, we will book a demo. We've also planned something. 1192 00:59:35,160 --> 00:59:37,720 Just to be clear, you are purely online. 1193 00:59:37,800 --> 00:59:39,680 - Yes, online! We will discuss it. - Purely online. 1194 00:59:39,680 --> 00:59:40,960 - Yes! - And live only. 1195 00:59:41,080 --> 00:59:43,680 - Not recorded. - No, not recording. Everything is live. 1196 00:59:43,840 --> 00:59:45,120 [music playing] 1197 00:59:45,520 --> 00:59:47,280 This is our beautiful website. 1198 00:59:47,360 --> 00:59:48,520 Bambinos.live. 1199 00:59:48,840 --> 00:59:52,000 We've made it immersive and informative. 1200 00:59:52,080 --> 00:59:54,720 You can see our levels and structure curriculums. 1201 00:59:54,800 --> 00:59:57,160 So, you can get every piece of information in a very 1202 00:59:57,320 --> 00:59:58,560 crisp and transparent way. 1203 00:59:59,080 --> 01:00:01,160 We have different courses. 1204 01:00:01,240 --> 01:00:03,240 Young Readers Program, Creative Writers Program, 1205 01:00:03,320 --> 01:00:05,480 Communicator Program, depending upon the interest 1206 01:00:05,560 --> 01:00:07,560 of the parent, you can choose a curriculum. 1207 01:00:15,440 --> 01:00:17,520 where we understand the child's level 1208 01:00:17,680 --> 01:00:19,880 to see which program fits him better. 1209 01:00:21,080 --> 01:00:22,360 Can I clarify? 1210 01:00:22,480 --> 01:00:24,640 Is it one-to-one or one-to-many? 1211 01:00:24,720 --> 01:00:26,840 Four maximum. We also have one-to-one. 1212 01:00:27,160 --> 01:00:30,280 For children aged 4-6 years, we limit sessions 1213 01:00:30,360 --> 01:00:32,800 - to one-on-one. Otherwise, there is an option. - Got it! 1214 01:00:33,560 --> 01:00:36,520 We've scheduled a demo for you. 1215 01:00:36,720 --> 01:00:39,080 - A teacher is waiting for you. - Thank you! 1216 01:00:39,160 --> 01:00:43,080 - They will make you experience what we teach. - What we teach. 1217 01:00:43,160 --> 01:00:44,160 So, are you all ready? 1218 01:00:44,400 --> 01:00:45,840 - Yes! - Thank you! 1219 01:00:46,200 --> 01:00:47,720 Okay, so we... 1220 01:00:47,840 --> 01:00:51,200 Over to Bhavisha. She is our teacher at Bambinos. 1221 01:00:56,880 --> 01:01:00,080 My name is Bhavisha, and I am an educator at Bambinos.live. 1222 01:01:00,400 --> 01:01:02,360 Today, I am going to give you a sneak peek 1223 01:01:02,480 --> 01:01:04,520 into a fun and engaging class. 1224 01:01:05,360 --> 01:01:08,640 You have these two options in front of you for your birthday. 1225 01:01:09,280 --> 01:01:12,560 Would you prefer Cake 1 for your birthday or Cake 2? 1226 01:01:13,640 --> 01:01:14,840 And why? 1227 01:01:15,080 --> 01:01:17,120 - Cake 2, why? Why would you like that? - It's colourful, ma'am! 1228 01:01:17,160 --> 01:01:18,560 Because it's like a rainbow. 1229 01:01:18,760 --> 01:01:21,640 Absolutely! It's colourful, it's got sprinkles, 1230 01:01:21,720 --> 01:01:24,560 oozing candies. Looks absolutely scrumptious, doesn't it? 1231 01:01:25,120 --> 01:01:27,200 But do you know, a lot of children 1232 01:01:27,280 --> 01:01:29,880 speak and write in English that looks like Cake 1. 1233 01:01:30,680 --> 01:01:32,120 So plain! So boring! 1234 01:01:32,560 --> 01:01:35,600 But we, at Bambinos, we empower our children 1235 01:01:35,800 --> 01:01:37,640 by teaching them how to use 1236 01:01:37,760 --> 01:01:39,720 different beautification tools and techniques 1237 01:01:39,800 --> 01:01:42,720 and show them how to speak and write to make their English look 1238 01:01:42,920 --> 01:01:46,000 colourful, attractive and have lots of flavours. 1239 01:01:46,720 --> 01:01:50,440 I hope you all know that there are 26 letters in English language. Yes? 1240 01:01:50,720 --> 01:01:54,800 But do you know how many sounds these 26 letters make? Any guesses? 1241 01:01:54,880 --> 01:01:56,240 - Million! - Who was that? 1242 01:01:57,040 --> 01:01:58,520 Millions? Wow! 1243 01:01:58,640 --> 01:02:00,280 Okay! That's too much. 1244 01:02:00,400 --> 01:02:02,080 - Let's be more realistic. - I don't know. 1245 01:02:02,160 --> 01:02:03,880 - I think 26. - So, these 26 letters... 1246 01:02:04,280 --> 01:02:07,200 26 letters make 44 sounds. 1247 01:02:07,280 --> 01:02:08,360 - That's it? - Yeah! 1248 01:02:08,600 --> 01:02:11,600 So, if you don't believe me, let's take the letter 'Y'. 1249 01:02:13,440 --> 01:02:16,480 How many sounds do you think this letter 'Y' alone makes? 1250 01:02:16,760 --> 01:02:18,280 - Two! - Three! 1251 01:02:18,920 --> 01:02:20,840 Two? Three? Okay, somebody said three. 1252 01:02:20,920 --> 01:02:22,400 - One also. - Star for you! Well done. 1253 01:02:23,720 --> 01:02:25,160 [drum roll] 1254 01:02:26,600 --> 01:02:28,680 So, it makes three sounds. 1255 01:02:29,760 --> 01:02:31,480 Okay, I am going to show you three words on the screen. 1256 01:02:31,520 --> 01:02:34,240 And I am going to tell you the three different sounds that 'Y' makes. 1257 01:02:34,320 --> 01:02:36,120 - Here it is! So, we have 'Candy'. - Okay. 1258 01:02:36,480 --> 01:02:37,680 We have 'Sky'. 1259 01:02:38,120 --> 01:02:39,120 And we have 'Yarn'. 1260 01:02:39,560 --> 01:02:42,920 If you see in 'Candy', 'Y' makes the sound of 'E'. 1261 01:02:43,000 --> 01:02:45,960 - In 'Sky', it makes the sound of 'I'. - 'I'. 1262 01:02:46,160 --> 01:02:47,160 - 'I'. - And 'Yarn', 1263 01:02:47,200 --> 01:02:49,120 - it makes the sound of 'yuh'. - It makes the sound of 'wuh'. 1264 01:02:49,120 --> 01:02:50,280 - Oh, nice! - Nice. 1265 01:02:50,400 --> 01:02:52,920 You are teaching this to children, but even we don't know. 1266 01:02:53,320 --> 01:02:54,320 [laughing] 1267 01:02:54,760 --> 01:02:59,120 Okay, great! So, if you want your English to go from boring to bravo, 1268 01:02:59,640 --> 01:03:01,760 join us on a magical English adventure. 1269 01:03:01,840 --> 01:03:04,040 That brings me to the end of this session. Thank you, Sharks. 1270 01:03:04,080 --> 01:03:06,160 You all were fantastic. I hope you enjoyed this. 1271 01:03:06,280 --> 01:03:07,600 - Thank you! - Thank you, teacher. 1272 01:03:07,640 --> 01:03:09,400 - You were very good. - Thank you! 1273 01:03:09,480 --> 01:03:10,720 - Well done! - Thank you! 1274 01:03:10,800 --> 01:03:12,640 - She was very good. - That was fun. 1275 01:03:12,720 --> 01:03:15,240 You spoke about sounds. 1276 01:03:15,360 --> 01:03:16,760 - You made it fun. - That's right! 1277 01:03:16,840 --> 01:03:18,800 - That's exactly... - And engagement is all about fun. 1278 01:03:18,800 --> 01:03:20,400 - That's right! - And relatability. 1279 01:03:21,320 --> 01:03:23,560 How many such teachers do you have? 1280 01:03:23,640 --> 01:03:25,160 About close to 250 teachers right now. 1281 01:03:26,080 --> 01:03:28,360 - I'll tell you about the teacher's profile. - Hmm! 1282 01:03:28,480 --> 01:03:31,240 - So, the average age of a teacher is 34 years. - Okay! 1283 01:03:31,360 --> 01:03:32,760 Everyone is a graduate, 1284 01:03:32,840 --> 01:03:35,080 minimum in English or BA. 1285 01:03:35,800 --> 01:03:37,320 50% post graduate. 1286 01:03:37,400 --> 01:03:40,480 Everyone has an experience of 7 years on average in terms of 1287 01:03:40,560 --> 01:03:41,720 teaching children. 1288 01:03:41,800 --> 01:03:46,120 Their average salary is around Rs. 25,900 1289 01:03:46,240 --> 01:03:47,080 for 4 hours a day. 1290 01:03:47,160 --> 01:03:49,680 - Are there people who work 8 hours? - Yes. 1291 01:03:49,760 --> 01:03:51,280 - Do they make Rs. 50,000? - They make more. 1292 01:03:51,320 --> 01:03:54,600 - With incentives... - Most of our teachers make Rs. 1.2 lakhs. 1293 01:03:54,680 --> 01:03:57,400 - But on average...- I have a last question linked to this. 1294 01:03:57,560 --> 01:04:00,360 - Yeah! - How many customers are in India and how many are abroad? 1295 01:04:01,160 --> 01:04:03,440 60 per cent of our business comes from India. 1296 01:04:03,520 --> 01:04:06,200 15 per cent of it is from our neighbouring countries. 1297 01:04:06,400 --> 01:04:08,400 The rest are split between the Middle East. 1298 01:04:08,480 --> 01:04:11,560 Some customers come to us organically from the US market. 1299 01:04:12,480 --> 01:04:15,920 Our typical consumer is a child between 4 years to 12 years old. 1300 01:04:16,040 --> 01:04:18,600 The sweet spot is between 6 years and 10 years. 1301 01:04:18,840 --> 01:04:21,120 Almost all the children go to private schools. 1302 01:04:21,240 --> 01:04:24,720 Their annual fees range from Rs 60,000 to Rs 1 lakh. 1303 01:04:26,040 --> 01:04:27,840 The average annual household income 1304 01:04:27,920 --> 01:04:30,280 of these families is around Rs 20 lakhs. 1305 01:04:30,920 --> 01:04:34,920 We are targeting almost 12 million such kids in India. 1306 01:04:36,040 --> 01:04:37,760 What is your charge per customer? 1307 01:04:37,960 --> 01:04:39,360 We have three plans 1308 01:04:39,560 --> 01:04:41,120 for three, six, and 12 months. 1309 01:05:04,480 --> 01:05:06,520 What is your average order size? 1310 01:05:07,520 --> 01:05:09,160 We get Rs 15,000. 1311 01:05:09,480 --> 01:05:11,120 How much are your CAC 1312 01:05:11,320 --> 01:05:15,240 and LTV, which will also determine the renewal rate? 1313 01:05:15,320 --> 01:05:18,600 So, our CAC right now is Rs 5960. 1314 01:05:18,680 --> 01:05:19,440 Okay. 1315 01:05:19,600 --> 01:05:21,120 LTV is Rs 31,000. 1316 01:05:23,680 --> 01:05:25,960 - 92 per cent because it has an upfront payment. - Right. 1317 01:05:26,240 --> 01:05:29,200 The CAC you mentioned was Rs 5960. 1318 01:05:29,320 --> 01:05:31,200 What is its distribution between India and abroad? 1319 01:05:31,200 --> 01:05:33,720 It must be close to Rs 4800 for India. 1320 01:05:33,800 --> 01:05:35,920 The remaining must be abroad. 1321 01:05:36,000 --> 01:05:38,200 - So, around Rs 1000. - Yes. 1322 01:05:41,680 --> 01:05:44,280 Two years ago, our sale was Rs 6.1 crores. 1323 01:06:06,480 --> 01:06:09,320 We will finish this year with a 15 per cent EBITDA margin. 1324 01:06:09,400 --> 01:06:10,400 Oh, well done! 1325 01:06:13,040 --> 01:06:15,720 - You will save Rs 4.5 crores this year. - Yes. 1326 01:06:20,000 --> 01:06:21,560 So, we raised a small round 1327 01:06:21,640 --> 01:06:22,640 - of Rs 3 crores - Yes. 1328 01:06:23,000 --> 01:06:25,920 from my Flipkart, Curefit and Amazon seniors. 1329 01:06:26,000 --> 01:06:27,960 - When did you do it? - When we started out 2 years ago. 1330 01:06:28,000 --> 01:06:29,960 - What was the valuation? - Rs 30 crores. 1331 01:06:30,040 --> 01:06:31,440 Is that all you raised? 1332 01:06:31,560 --> 01:06:34,120 Yeah. That's our raise. We have Rs 3.5 crores in the bank today. 1333 01:06:34,240 --> 01:06:35,240 Oh, wow! 1334 01:06:35,560 --> 01:06:37,640 How much is your mutual equity split? 1335 01:06:37,720 --> 01:06:39,400 I hold close to 55 per cent. 1336 01:06:39,520 --> 01:06:41,720 Gaurav has 27 per cent. 1337 01:06:41,840 --> 01:06:43,920 We've diluted 10 per cent. 1338 01:06:44,040 --> 01:06:45,920 8 per cent is with our employees. 1339 01:06:46,680 --> 01:06:49,040 How do you divide the work between you both? 1340 01:06:49,120 --> 01:06:50,520 So, I take care of the product. 1341 01:06:50,680 --> 01:06:52,640 I take care of customer experience. 1342 01:06:52,720 --> 01:06:55,320 I also take care of tech. 1343 01:06:55,560 --> 01:06:57,680 Gaurav takes care of the business, 1344 01:06:58,000 --> 01:06:59,040 marketing and sales. 1345 01:06:59,120 --> 01:07:01,720 - And who is the CEO? - I am the CEO of the company. 1346 01:07:03,200 --> 01:07:05,440 Let's assume you do well for three years. 1347 01:07:05,520 --> 01:07:07,040 The business reaches Rs 100 crores. 1348 01:07:07,360 --> 01:07:10,200 Will your next priority be to remain in English 1349 01:07:10,280 --> 01:07:11,880 - and go to the lower pyramid or - No. 1350 01:07:11,960 --> 01:07:13,400 give the same children more services? 1351 01:07:13,440 --> 01:07:15,160 We will give the same kids more services 1352 01:07:15,240 --> 01:07:17,840 as we can't change our target. 1353 01:07:17,920 --> 01:07:20,680 I don't want to spread my wings everywhere. 1354 01:07:21,360 --> 01:07:22,840 Our current mindset 1355 01:07:22,920 --> 01:07:25,080 focuses on making a good product for the consumer. 1356 01:07:25,160 --> 01:07:28,080 There is enough money on the table to take it. 1357 01:07:28,320 --> 01:07:30,160 I am working on English. I can do Maths, too. 1358 01:07:30,240 --> 01:07:32,680 I want to become a one-stop platform for the consumer. - Okay. 1359 01:07:33,440 --> 01:07:34,880 Ashish, I am mighty impressed by you. 1360 01:07:35,200 --> 01:07:36,680 You have complete clarity. 1361 01:07:36,760 --> 01:07:39,880 Your experience with Amazon is also focused. 1362 01:07:39,960 --> 01:07:42,440 I only see one weakness. 1363 01:07:42,720 --> 01:07:46,000 Your nature of being focused is also your strength. 1364 01:07:46,440 --> 01:07:49,400 But somehow, I feel 1365 01:07:49,400 --> 01:07:52,040 India's chief problem is still unsolved. 1366 01:07:57,920 --> 01:08:00,200 You're paying Rs 25,000 to the teacher. Right? 1367 01:08:00,280 --> 01:08:02,800 Considering that expense, you cannot take this to the mass level. 1368 01:08:02,800 --> 01:08:06,680 Then, this business is operating at the top of the pyramid. 1369 01:08:07,120 --> 01:08:11,000 Somehow, because of the ed-tech history, 1370 01:08:11,480 --> 01:08:14,040 your motivation is to chase money. 1371 01:08:14,120 --> 01:08:17,160 I am more interested in solving the problem. 1372 01:08:18,360 --> 01:08:21,640 I would have been interested if that were your motivation. 1373 01:08:21,920 --> 01:08:24,920 But as you clearly don't want to do that, 1374 01:08:25,000 --> 01:08:26,440 I am out right now. 1375 01:08:26,840 --> 01:08:29,840 Gaurav and Ashish, I still doubt this industry. 1376 01:08:30,760 --> 01:08:34,360 It doesn't seem stable to me right now. 1377 01:08:35,680 --> 01:08:37,400 This industry is growing. 1378 01:08:37,560 --> 01:08:39,400 There is growth in this industry again. 1379 01:08:39,480 --> 01:08:41,520 Companies are coming back. 1380 01:08:41,840 --> 01:08:44,560 Those companies will return and pour a lot of money. 1381 01:08:48,360 --> 01:08:50,080 Many funded players have entered. 1382 01:08:50,160 --> 01:08:52,480 They're adding more funding. I don't know what will happen. 1383 01:08:52,800 --> 01:08:54,760 I want to see this industry from the side. 1384 01:08:55,800 --> 01:08:57,560 So, for that reason, I am out. 1385 01:08:57,840 --> 01:08:58,840 Thank you. 1386 01:09:04,480 --> 01:09:07,280 I'll give you Rs 1 crore for 2 per cent, 1387 01:09:07,480 --> 01:09:10,560 but I want a 1 per cent royalty on your sales 1388 01:09:11,000 --> 01:09:14,880 to recover my money until I make 1x of my money. 1389 01:09:24,760 --> 01:09:27,960 Your content is your strength. 1390 01:09:28,080 --> 01:09:30,720 It will benefit you in the long term. 1391 01:09:32,360 --> 01:09:35,480 - Yes. - You can use it to get engagement in your content. 1392 01:09:36,760 --> 01:09:37,760 This is my offer. 1393 01:09:38,720 --> 01:09:41,480 I'll change my offer. Rs 1 crore for 1.5 per cent, 1394 01:09:41,560 --> 01:09:43,120 but I'll keep the royalty of 1 per cent. 1395 01:09:47,160 --> 01:09:49,760 - With the royalty deal? - Royalty is something I feel 1396 01:09:49,840 --> 01:09:51,120 - is a good proposition. - Yeah, I think we can do it. 1397 01:09:51,120 --> 01:09:52,480 Rs 1 crore for 1.5 per cent 1398 01:10:01,240 --> 01:10:03,360 [pensive music playing] 1399 01:10:06,600 --> 01:10:08,120 - I have a counteroffer. - Okay, tell us. 1400 01:10:08,120 --> 01:10:10,400 - Who is it for? - All the three sharks. 1401 01:10:11,400 --> 01:10:13,560 Rs 1 crore for 1.5 per cent 1402 01:10:13,560 --> 01:10:16,360 for all the three sharks without royalty. 1403 01:10:20,560 --> 01:10:23,360 I've seen this industry closely. 1404 01:10:23,440 --> 01:10:25,920 I've lost money on it. I've made money, too. 1405 01:10:26,840 --> 01:10:28,560 But it's clear 1406 01:10:28,640 --> 01:10:31,240 that you are also in the game of CAC and LTV. 1407 01:10:31,360 --> 01:10:34,880 You are also solving for supply and demand simultaneously. 1408 01:10:35,560 --> 01:10:37,680 Those problems can blow out. 1409 01:10:38,160 --> 01:10:40,640 As competition increases, which it will, 1410 01:10:40,840 --> 01:10:42,840 some of these metrics will go for a toss. 1411 01:10:42,960 --> 01:10:45,320 The best thing about you is discipline. 1412 01:10:46,160 --> 01:10:49,520 But when a macro shock appears, and someone enters with 100 million, 1413 01:10:49,960 --> 01:10:53,320 it becomes challenging to be that small guy who maintains discipline. 1414 01:10:54,080 --> 01:10:55,280 So, my point is 1415 01:10:55,360 --> 01:10:57,120 I won't enter without royalty. 1416 01:10:58,440 --> 01:11:00,840 He's got a great point. 1417 01:11:00,920 --> 01:11:02,680 We'll say that he will get the three of us 1418 01:11:03,440 --> 01:11:06,160 - but with only royalty. - 1.5 per cent. 1419 01:11:08,760 --> 01:11:11,520 - Come on. The game has changed a little. - Yes. The game has changed. 1420 01:11:12,360 --> 01:11:13,880 You only have one offer now. 1421 01:11:14,760 --> 01:11:18,760 1.5 per cent for Rs 1 crore and 1 per cent royalty. 1422 01:11:21,200 --> 01:11:22,840 But you get all three of us. 1423 01:11:23,760 --> 01:11:27,400 Okay, sharks. 1.5 per cent, 1 per cent royalty, 1424 01:11:27,560 --> 01:11:28,920 and Rs 1 crore! The deal is final. 1425 01:11:40,400 --> 01:11:42,560 - [overlapping voices] - Excellent! 1426 01:11:42,640 --> 01:11:44,520 [triumphant music playing] 1427 01:11:46,520 --> 01:11:48,160 [camera shutter clicking] 1428 01:11:48,800 --> 01:11:51,040 - Thank you. - All the best. 1429 01:11:51,120 --> 01:11:52,560 - Thank you, guys. - You're welcome. 1430 01:11:52,640 --> 01:11:53,720 - Bye. - Thank you. 1431 01:11:53,800 --> 01:11:57,440 We wanted to have Anupam on board. 1432 01:11:57,520 --> 01:11:59,520 That 1 per cent royalty doesn't matter to us. 1433 01:11:59,600 --> 01:12:02,200 Anupam matters more. We wanted to get that deal. 1434 01:12:02,280 --> 01:12:05,800 I'm sure all three sharks will add a lot of input. 1435 01:12:05,920 --> 01:12:08,720 We got the best of the deal that we wanted. 1436 01:12:08,960 --> 01:12:10,120 - Yeah. - So, we're delighted. 1437 01:12:18,480 --> 01:12:20,160 Welcome to Acko Changemakers, 1438 01:12:20,240 --> 01:12:21,960 where we really welcome change. 1439 01:12:22,040 --> 01:12:23,600 We saw it's beautiful expression 1440 01:12:23,680 --> 01:12:26,200 on our changemakers' wall. 1441 01:12:27,440 --> 01:12:29,320 We're empowering the change 1442 01:12:29,400 --> 01:12:32,040 in education using modern learning tools. 1443 01:12:32,640 --> 01:12:35,520 Today's changemakers are Ashish and Gaurav. 1444 01:12:36,120 --> 01:12:37,200 Come, sir. 1445 01:12:38,360 --> 01:12:40,240 - Welcome, sir. How are you? - Thank you. 1446 01:12:40,480 --> 01:12:41,640 - How are you? - Good. 1447 01:12:46,200 --> 01:12:48,760 The most interesting thing is that your platform 1448 01:12:48,880 --> 01:12:52,320 - has 97 per cent of women. - Yes. - That is commendable. 1449 01:12:52,440 --> 01:12:55,600 My question for you is, if our audience 1450 01:12:55,680 --> 01:12:59,520 wants to learn English daily, 1451 01:12:59,720 --> 01:13:02,400 what change can they bring about in their lives? 1452 01:13:02,560 --> 01:13:04,640 - They can make two changes. - Okay. 1453 01:13:04,840 --> 01:13:07,360 Firstly, they must read English as much as they can. 1454 01:13:07,440 --> 01:13:10,000 Be it in newspapers or magazines. 1455 01:13:10,200 --> 01:13:13,160 - That helps with learning. - Okay. 1456 01:13:13,240 --> 01:13:16,320 Secondly, they should try 1457 01:13:16,480 --> 01:13:18,880 - to communicate in English daily. - Yes. 1458 01:13:19,160 --> 01:13:23,000 That will reduce their hesitation and make them better. 1459 01:13:23,120 --> 01:13:25,120 So, these are the two tips. Read more 1460 01:13:25,440 --> 01:13:27,960 - and speak more in your comfort environment. - Okay. 1461 01:13:28,320 --> 01:13:30,120 Sir, you've brought about an amazing change. 1462 01:13:30,320 --> 01:13:31,520 Acko has brought about 1463 01:13:31,600 --> 01:13:33,520 an equally amazing change in the insurance space. 1464 01:13:33,600 --> 01:13:35,480 They've totally changed it. 1465 01:13:35,800 --> 01:13:38,240 There is zero waiting period for health insurance. 1466 01:13:38,400 --> 01:13:39,720 That means if you're healthy, 1467 01:13:39,800 --> 01:13:42,040 the coverage will start from the first day of the policy. 1468 01:13:42,080 --> 01:13:44,440 You can claim it without any standard waiting period. 1469 01:13:44,800 --> 01:13:46,480 Sir, on behalf of Shark Tank and Acko, 1470 01:13:46,560 --> 01:13:49,200 we want to give you a gift to welcome this change. 1471 01:13:49,360 --> 01:13:50,880 Thank you so much. 1472 01:13:54,520 --> 01:13:55,920 [camera shutter clicking] 1473 01:14:01,160 --> 01:14:03,640 Jaquar presents 'Bringing Good Ideas to Life.' 1474 01:14:03,920 --> 01:14:07,080 Guys, are not the pitches fantastic in Shark Tank India? 1475 01:14:07,240 --> 01:14:10,560 Many entrepreneurs's ideas have created waves of success. 1476 01:14:10,920 --> 01:14:12,320 I hope you didn't miss it. 1477 01:14:12,520 --> 01:14:15,240 No problem. Let's rewatch those moments. 1478 01:14:15,320 --> 01:14:17,200 Let's watch. 1479 01:14:17,400 --> 01:14:19,920 'Whoo!' 1480 01:14:22,800 --> 01:14:24,960 - 'Well done. - We are' 1481 01:14:25,120 --> 01:14:26,640 'Skate Supply India.' 1482 01:14:26,720 --> 01:14:30,800 'It's not merely a sport, but a lifestyle choice, which includes' 1483 01:14:30,920 --> 01:14:33,160 'hip-hop, fashion and street culture.' 1484 01:14:34,120 --> 01:14:35,480 'The one who will disrupt' 1485 01:14:35,560 --> 01:14:37,240 'the beverage industry is here! Boba Bhai!' 1486 01:14:37,240 --> 01:14:38,680 [laughing] 1487 01:14:39,240 --> 01:14:40,680 'Boba bhai is a QSR chain that sells' 1488 01:14:40,680 --> 01:14:44,080 'bubble teas, Korean burgers and K-pop ice creams.' 1489 01:14:44,160 --> 01:14:45,600 'Amazing!' 1490 01:14:46,080 --> 01:14:48,760 'We, mother-son duo, started this company on our terrace.' 1491 01:14:48,840 --> 01:14:52,280 'We made the world's most affordable and portable solar dehydrator.' 1492 01:14:53,240 --> 01:14:55,800 'It dehydrates the farmer's excess products so' 1493 01:14:55,960 --> 01:14:57,560 'that its natural colour, taste,' 1494 01:14:57,720 --> 01:15:00,840 'nutritive value and aroma remains intact throughout the year' 1495 01:15:00,920 --> 01:15:02,040 'without any sugar or preservatives.' 1496 01:15:02,040 --> 01:15:03,200 - 'It's delicious. - Wow!' 1497 01:15:03,280 --> 01:15:04,360 'It's good.' 1498 01:15:04,440 --> 01:15:06,520 'Clapstore Toys is a kids brand' 1499 01:15:06,600 --> 01:15:09,880 'that makes specialised toys to help children from 0 to 6 years' 1500 01:15:09,960 --> 01:15:11,520 'get rid of their cell phone addiction.' 1501 01:15:11,680 --> 01:15:14,000 'Our toys engage the kids' 1502 01:15:14,080 --> 01:15:16,600 'and trigger a positive stimulation.' 1503 01:15:17,960 --> 01:15:19,480 'That is so cool!' 1504 01:15:20,760 --> 01:15:23,160 - 'I will buy each one of them. - Where do you live?' 1505 01:15:23,280 --> 01:15:27,080 'Dhamtari is a small town in Chhattisgarh near Raipur.' 1506 01:15:27,160 --> 01:15:28,360 'I am from Indore.' 1507 01:15:28,440 --> 01:15:30,320 'I've done engineering from MIT, Pune.' 1508 01:15:30,400 --> 01:15:31,320 'I am Ravinder.' 1509 01:15:31,400 --> 01:15:32,520 'I am from Tarn Taran.' 1510 01:15:32,840 --> 01:15:34,400 'I am from Chandigarh.' 1511 01:15:34,760 --> 01:15:39,160 'Mr Sridhar Vembu made Zoho from a small town in Tamil Nadu.' 1512 01:15:39,440 --> 01:15:42,360 'Mr Chandubhai Virani made Balaji wafers' 1513 01:15:42,440 --> 01:15:45,160 'from a small town near Rajkot.' 1514 01:15:46,280 --> 01:15:50,440 'Shashank from DeHaat is also from Chapra, Bihar.' 1515 01:15:50,520 --> 01:15:53,280 'Several people have made well-known companies' 1516 01:15:53,560 --> 01:15:55,360 'from small towns.' 1517 01:15:55,600 --> 01:15:58,800 'So, I hope you join this list.' 1518 01:15:58,880 --> 01:16:00,560 [motivational music playing] 1519 01:16:03,080 --> 01:16:04,840 All the pitchers proved one thing. 1520 01:16:05,160 --> 01:16:07,240 Proudly made in India for the world, 1521 01:16:07,760 --> 01:16:09,120 just like Jaquar. 1522 01:16:09,400 --> 01:16:11,480 'Ask the Shark.' 1523 01:16:16,240 --> 01:16:19,520 Mr Aman Gupta, co-founder and CMO of boAt Lifestyle, is with us. 1524 01:16:19,600 --> 01:16:21,520 Today's question is by Vijesh Singh, 1525 01:16:21,600 --> 01:16:23,480 from Guwahati, Assam. He is 24 years old. 1526 01:16:23,800 --> 01:16:24,800 His question is this. 1527 01:16:47,760 --> 01:16:51,160 that money or fame didn't affect me. 1528 01:16:51,240 --> 01:16:53,480 I was the same when I didn't have money. 1529 01:16:53,560 --> 01:16:55,200 I would be happy and enjoy life. 1530 01:16:55,640 --> 01:16:58,080 I used to work for my happiness. 1531 01:16:58,200 --> 01:17:00,840 - I left my job when I didn't like it. - Right. 1532 01:17:00,960 --> 01:17:04,320 I've left three to four companies within a year or so. 1533 01:17:04,720 --> 01:17:06,240 So, I am always happy. 1534 01:17:06,400 --> 01:17:10,680 I've said it before. 1535 01:17:11,000 --> 01:17:14,760 It's better not to work if you're unhappy 1536 01:17:15,120 --> 01:17:18,400 because every day is a Sunday when you're happy working. 1537 01:17:18,480 --> 01:17:19,640 So, you enjoy working. 1538 01:17:19,880 --> 01:17:22,680 I will not remain myself if these things affect me. 1539 01:17:22,840 --> 01:17:25,560 I've given this power to many people around me. 1540 01:17:25,640 --> 01:17:27,600 'Let me know if you see me changing.' 1541 01:17:27,720 --> 01:17:30,200 Others judge you when you change. 1542 01:17:30,280 --> 01:17:32,520 They've not said so till now. It means I am still the same. 1543 01:17:32,520 --> 01:17:33,840 This is how I want to live my life. 1544 01:17:33,880 --> 01:17:35,680 I don't want to be affected by fame. 1545 01:17:36,080 --> 01:17:37,360 That's quite evident. 1546 01:17:37,440 --> 01:17:41,800 Do you find it tough to gauge people 1547 01:18:17,160 --> 01:18:18,920 Vijesh, I believe you've realised 1548 01:18:19,040 --> 01:18:21,680 that staying grounded keeps things sorted. 1549 01:18:21,840 --> 01:18:24,600 See you in the next Ask the Shark with a new question and a new shark.