[clanking]
[beeping]
[music playing]
[music concludes]
[theme music playing]
[theme music concludes]
- Nice. - Sharks, you have some placards with you.
Using those placards,
you'll need to answer one of our questions.
Chocolate A expires in 6 months.
And Chocolate B is about to expire in 1 month.
Which one will you buy?
A? A? B? A!
- Anupam? - A. Sorry, A.
A, perfect.
What if I said Chocolate B was offering a 50% discount?
- B. - Perfect.
Team B, you just helped Chocolate B from going to waste.
Customers normally don't buy products nearing their expiry date.
In this manner, every year in the FMCG industry,
Today, the Indian FMCG market stands at Rs. 18 lakh crores
and is projected to double in the next 5 years.
worth Rs. 5,000 crores are dumped as waste
in India every year.
Sharks, not only is this a great financial loss,
but it also pollutes our air, soil and water.
To solve this problem, we came up with Gofig,
where big savings meet zero waste.
Gofig is a solution
that aims to take the FMCG surplus
impact-focused platform for surplus and near-expiry products
and to save every product from going to waste.
To make this vision a reality,
our ask is Rs. 50 lakhs for 2% equity.
Hi, Gaurav and Disha.
Welcome to Shark Tank Season 4.
That was a good pitch and a great way to make an impact.
Now, tell us about yourselves.
What do you do, what were you doing and what brought you into this?
I belong to a small town in Gujarat called Godhra.
I did my graduation in Gujarat.
After that, from
the Illinois Institute of Technology in Chicago,
I did my Masters in Electronics and Telecommunication.
The turning point in my career was
when I started working with the German Government.
I was leading the investment promotion arm
of the city of Frankfurt.
I did that for 10 years.
During this stint,
I helped many Indian conglomerates invest in Germany.
I also worked with diplomats. After that,
I worked with Bobble AI which is a tech start-up.
I was there as Senior Vice President for Business.
I left Bobble AI in 2023.
Ever since, I started working on Gofig.
I moved out of Pune to study engineering.
I got my bachelor's degree from the University of Maryland in College Park
and did my master's from Carnegie Mellon University.
I ran an engineering company for 8 years and grew it
and then, I went back to consulting in Hong Kong.
By "ran", I'm assuming you were the CEO.
Yes. Actually, that was my father's company
and he founded it.
Okay. So like Namita, you inherited it.
- Yes, I inherited it. - Okay. Where did you take it?
- When I joined, the company was about worth $3 million. - Okay.
From 3, I took it to $5 million.
- Oh, well done. Not bad. - Yes.
Um, sorry. I missed that.
Are you two related by any chance?
- Yes, we're married. - Okay.
This is called a power couple.
Both your educational qualifications
and pedigree in terms of work experience,
are off the charts. So, a true power couple.
It'd look great if you stood closer.
I had the light-bulb moment.
- I had imagined. - This was in 2022
when Gaurav was in Hong Kong.
I used to keep shuttling between India and Hong Kong
because the kids' schooling was going on here.
So, I was in Hong Kong for a short trip.
There, I discovered a store called GreenPrice.
Inside, I saw that all the products were heavily discounted.
The speciality was that every product
displayed the expiry date or the best-before date.
I found it very refreshing
as well as inspiring
that a small outlet
was taking some steps to mitigate the waste.
- So, that was my trigger. - Gaurav! Disha! Tell me one thing.
How did you feel this idea could be the next big thing?
- Was it passion or you did some... - Yes.
You were in McKinsey, you obviously would've done some research.
We grew up in Jain families.
Our religion prohibits any kind of food wastage.
If bitter gourd is made at home, everyone got their share
- and they had to finish it. - Oh, wow!
It was also our value system
that made us want to do something about this problem.
India has plenty of landfill sites.
We are well-educated with enriching experiences.
We ought to put those to use towards a good vision.
Let me ask you a relevant question.
You took a Rs. 5,000-crore problem...
Basically, today, in India,
these products go through a variety of treatments.
Many unorganised players
buy these products post their expiry
at discounted or throwaway prices,
re-date the inventory and push it back into the market.
A lot of times, cattle feed is made with these expired products.
So, I think there is enough scope for us all to make an impact.
If an FMCG product, let's say expires in a month,
We think it's fine,
but there's a stale aftertaste of either oil...
How do you deal with that?
We'd never sell a product
where we list an FMCG company without checking them first.
We have a process in place.
The FMCG company has to send us samples
of the batch they want to sell.
We check their samples thoroughly.
For example, some products
whose temperature is not managed properly in transit,
get spoiled, right?
Leading to this issue.
So, your point is you go to batch-level detailing
- to make sure the quality is ensured. - Absolutely.
That's your answer...
- That's very important. - I'm convinced.
Absolutely.
Just explain your business.
Where do you sell, to whom and at what discount?
We launched our website in July 2023...
- Okay. - Purely from the point of view
of market validation.
So, currently, you sell only on your website.
- No. - Let me answer that.
We needed to do a market validation
as we were doing this in India for the first time.
We didn't know how big a problem this was for the FMCG industry.
Secondly, we had our doubts.
If we discounted the products, would people buy them, right?
And even if they did, at what price point?
So, we launched this as a pilot.
Are you pre-revenue?
- Yes, we are pre-revenue. - Yes.
We are generating some revenue
because we take this product
as a part of market testing and validation.
Coming to your question of what model we operate on.
Our model is very straightforward.
When brands realise they have surplus inventory,
they inform us.
Based on the category, our experience as well as data,
we decide how much to discount the product
keeping the expiry date in mind.
And we now take it to the customer for testing in three ways.
The first is our online platform.
The second one is,
we do a lot of things to educate people on this topic.
We visit a lot of corporates and universities
- Do you buy this inventory and resell it or... - No.
- Does the brand sell it? - So, our... Yes.
When we onboard a brand,
we enter into a partnership agreement
through which we give our brand partners their recovery
on the sale of products.
These products will already be in the FMCG's supply chain.
Our people will go and test them.
Once approved, the products will be listed.
After that, customers will be able to order them.
But where?
Will they go to all these places and check the batch?
- No. - They could go to distributors,
superstockists and brand warehouses
- Yes. - Exactly.
The model we told you about will be B2B-focused going forward.
When we validated this market,
we figured out three things.
Firstly, due to time-criticality,
moving volumes quickly in this business is very important.
The products get consumed faster.
The consumer isn't buying from Gofig.
As a consumer, going forward, through Gofig...
You told us a long story.
That was for the market validation.
As I said,
a market validation should be done
to know if we should work on it,
how big an opportunity this could be
- Yes. - Say, for example,
you'll take goods from Marico and supply them to a retail store
- in a discount section. - No.
- So, what does B2B mean? - Correct.
In B2B,
we'll need to find different kinds of sales and distribution mechanisms
or buyers in this space.
- Like who? - So, you mean...
- Give me one minute. I think I understand. - Yes.
You're partnering your business with brands
and you'll determine and map out the distribution points
from where you'll acquire the goods.
When you get an order
from people like, for example, Green Store...
- Right. - GreenPrice.
Similar types of people will emerge in India.
You'll supply to them.
And you will be the channel
for that wholesaler or CFA agent...
- Exactly. - Can directly ship to them from your platform.
- They're not established yet. - Yes.
- No. - There is no GreenPrice in India.
Whom will you partner with?
So, even during the pilot,
- we identified four types of buyer personas. - Okay.
The first one in India
are discounter retailers
- So, we have onboarded 40 brands. - 40 brands.
The model you saw in Hong Kong,
there the end consumer was buying this product.
You will buy products from one retailer
and supply them to another retailer.
Why don't you sell them directly to the customer
from Unilever's warehouse?
- Right. - You'll stock the products with someone else,
they will make some sales and have another expiry tail.
Eventually, aren't you complicating the model?
We saw a few challenges in that as well.
First, at our current scale,
because these products are already heavily discounted...
This is a bottleneck for you,
- the performance marketing challenge. - Yes.
That is your problem,
- not the consumer's. - Right.
Right.
Tell me something.
Rather than selling on your own website,
did you try to sell on Amazon?
- We cannot. - It's not allowed.
- We have contracts with brands
prohibiting us from selling this inventory
on their regular channels.
- The statement is... - You're stuck in a problem.
The opportunity is
that we have to build alternate distribution mechanisms
- at scale... That's an opportunity. - Hang...
- Can I ask an obvious question? - Yes.
You got inspired by a store called GreenPrice.
Why wouldn't you replicate that model?
Even today, retail in India is majorly offline.
Why don't you start those stores?
That was the intention.
The only twist was
that this is India and e-commerce is prevalent.
So, we built it as an e-commerce platform.
If you want to do it online.
All I'm asking is, why didn't you think of offline stores?
- Why didn't you? You spent a year doing this... - I'll tell you.
I think you guys seem independently wealthy.
- You've worked for many years - and made some good money. - Yes.
Do you need to work for money now?
What kind of a question is that?
It's a very relevant question, Namita.
Just let me finish.
Do you need money?
This is Shark Tank. It's capitalism in its true form!
If you're uncomfortable with the question, you shouldn't be here.
But are you working for money or impact?
We're working for impact.
- The primary focus. - That's my point.
- That was the trigger point. - That's my point.
- As we said before. - Last year,
if you really wanted to prove this model,
you'd have opened a store.
- It wouldn't take so much money. - Anupam, I beg to disagree.
Suppose we want to launch from Pune.
If I set up a shop in one corner of Pune,
I believe the impact would be too low.
I think people will queue up.
So, I fundamentally differ with you.
- I agree with Anupam. - I know you...
- I think people will queue up. - Me too.
And you should capture one city, open 7 to 12 stores,
build your brand there.
People will flock to your stores because it'll be easy.
And the proposition will be 70%.
Who wouldn't come?
India has loads of value-seeking, bargain-hunting customers.
I think you've made it too complex.
I don't fundamentally agree with your thesis
but fundamentally, I don't like where this is going.
So, I'm out. Good luck.
I disagree with Anupam...
On two things.
One is, it's not like because you aim to make an impact,
you don't want to make money.
I think this age is characterised by social entrepreneurship
where, why do you need to choose?
- You can do both. - Right.
Point number two.
In India, building an offline channel
is very capital-intensive.
- And inventory-led. - Exactly, in every way.
If you want to go pan-India, you can't be opening
so many offline stores.
It's not that easy.
Here, 80% are smaller brands.
If you move on to bigger brands, they won't take the risk.
I think your vision of making an impact
is a great vision.
I don't have clarity as far as the execution goes
and for today, I am out.
But I would love to meet you again
with revenue, product-market fit,
with this quality and tech in place.
Thank you.
You said you were pre-revenue
but you put up kiosks in some places.
- So, you must be doing some business. - Yes.
Give us your numbers.
If I talk about the last three months,
we made Rs. 2.27 lakhs sales last month.
Rs. 1.67 lakhs the month before that
and in the month before that, Rs. 90,000.
This month, which is September 2024, we are set to close at Rs. 3 lakhs.
What does your margin look like?
Our gross margin is 35%.
Look. First of all, I'm surprised that your scale is quite reasonable.
The kiosks and stores you've put up at a few places
have brought about a reasonable scale,
but I believe that in any business,
the execution is more important than the idea.
I believe you ought to launch your own stores.
My belief about entrepreneurship is
there should be a high bias for execution.
If you start one store, at least Rs. 25-lakh sales will come in.
The proof point that it'll build
will be 10x better than all the focus groups you'll do.
I'm a little disappointed by your pitch.
I thought this was a food pitch,
I'd get something to eat but you gave nothing.
Then I realised this pitch was about something else.
You've cracked the supply side very well.
You need to work on the demand side.
Your model hasn't been proven yet.
You're trying to figure out what it is you want to do.
Once you do that, then I will be interested.
I think, now, you guys are...
It's too early for me to come in.
So, all the best. Do well. I'm out.
You identified a great opportunity.
Expiry is a problem for every business.
- In our business too. Contact lenses expire. - Yes.
Very unique, novel idea.
And I must commend you for spotting this opportunity.
I don't know how many others are playing in this segment
but it is a big opportunity.
The problem is
you guys have come from a consulting background.
So, you're over-engineering everything,
but, sometimes,
it is important to drive the car.
What happens in business is you have to...
A little madness is required.
Drive the car, my dear friend. Drive it.
Open a store. What's the worst that could happen?
Until you steer your thought process towards disruption,
it will be very difficult
because what you're trying to do is quite new.
When you try to do something new, problems crop up on every front.
I'm just telling you to change the thought process
but at this stage of your business,
I will have to take almost one-third of your company.
[tense music playing]
Peyush, make an offer.
They are bootstrapped anyway I think.
Okay, I'll make you an offer.
Rs. 1 crore for one-third of the company.
This absolutely won't do
that once the tech is in place and this grows big,
then you'll open a store.
[tense music playing]
Peyush, thank you for the offer.
If we talk, at this stage,
we're looking at raising a total of Rs. 2.5 crores.
so there's a higher scope for...
- You have a counter offer then. - Large-scale institutions to join.
We wish to make a counter offer.
[tense music playing]
That 33.33% is for
the strategic help that would come along.
In no arrogance.
- Yes. - To be honest.
And I understand and appreciate every statement you made.
That Rs. 1 or 2 crores just won't do it.
Let me be upfront.
- You'll open a shop... - Exactly.
- Grow the business. You'll need Rs. 10 to 20 crores. - Yes.
But at this stage,
this will not work.
Forget 5 or 10, even 15% will not work.
So, I understand and...
- Sure. - Best of luck.
'Thanks to Peyush for giving us this offer.'
It, however, did not align with our current plans and goals.
As Aman said, we had cracked the supply side
and we need to work on the distribution.
So, we'll go home
and figure out the distribution strategy.
As also, how we can
take these products
to every family and household in India.
Hello, Disha and Gaurav.
- Welcome to our PokerBaazi zone. - Thank you.
- How did the pitch go? - Great.
- Okay. - Would you like to play?
- Yes. - All right.
So, here's how it goes.
Based on their strength, Poker hands are ranked in a particular order
Like I told you Royal Flush was at number one
and Flush at number five.
Similarly, I want you to rank them.
- Okay. - Yes.
- As per your business. - Let me start.
The most important to us is human resources,
which is a good team.
All right, I want to apply.
Okay! Royal Flush.
The second is fund raising.
Okay.
I'd say the third is distribution
which we need to focus on.
Four of a kind, yes.
We have quality assurance. Very important.
- We're building a trusted platform that offers quality. - Absolutely.
And the last one is customer service
because a customer is at the centre of whatever you do as a business.
Hundred percent. Okay, all right.
The interesting thing is that
you rated distribution 3, that's Four of a kind.
Why 3 and not 1?
I think the most important thing
- you need first to execute everything is a team. - Yes.
- If you have a good team, you can do everything. - Hmm.
Our team is quite small now.
This is hosted on PokerBaazi with a total prize pool of Rs 100 crores.
Use your strategies to make a winning hand.
You too download the PokerBaazi app,
use your strategies to make a winning hand.
Go and download the PokerBaazi app now.
[theme music playing]
[theme music concludes]
Greetings, Sharks.
I am your local mukhwas.
I'm the afterparty of every dinner
and the munching of every offer.
I am immortal.
You imposter!
You're not mukhwas, you are nonsense!
You've been made in unhygienic conditions for years
and come without a manufacturing and expiration date.
You fool everyone with your synthetic colours and flavours.
Oh, please! It's not like anyone can change me.
Nonsense! Meet Joyspoon.
A new-age mouth freshener and mukhwas brand
India's mouth freshener and mukhwas market
is unorganised and characterised by unhygienic market conditions.
With a dream to revolutionise it,
Joyspoon was established in October 2023.
We use unique ingredients to make refreshing flavours
In line with our no-nonsense policy,
We launched our products on our website and marketplaces.
So, no nonsense and only Joyspoon Mukhwas!
Welcome, Yash and Vaishali.
Tell us about your yourselves.
What made you get into the mukhwas business?
What's your story?
Yash and I come from a small city in Rajasthan called Pali.
In fact, Yash and I are school friends
- and we've been dating for 12 years. - Oh, wow.
- Congratulations. - Thank you.
Married!
- Are you married? - Yes, we are.
We have a baby who we named Joyspoon.
"Because..."
- We'll give you the details. - Sorry, not my concern!
- No, I was joking. - What kind of question...
- I was joking. - Congratulations.
How old are you right now?
How old do you think I am?
25.
I'm 28. He's 29.
- So, minus 12. - Yes.
16. Sweet sixteen romance.
[all chuckle]
I studied in Pali till the twelfth grade.
Then I did BBA and Fashion Designing from Ahmedabad.
Then I worked with Tarun Tahiliani for two years.
- Oh, how nice. - I had the urge to do something.
Food is my calling and I'm from Rajasthan.
My mom and maternal grandma always made something new at home.
And that's when it dawned on me.
When my mother and grandma made mukhwas at home for years,
why not give it a big opportunity?
My marriage got fixed to Yash.
So, it was right under my nose and I was looking for it everywhere!
I got both the prospective groom and business idea from my village.
What was Yash's story?
Do you have any role or does Vaishali manage everything?
No. Of course, her mom and grandma play a huge role in this
and deserve credit for it.
After my schooling, I came to Mumbai
where I did my chartered accountancy.
- I worked with KPMG. - Wow.
I worked with Raymonds and Voltas too.
I founded a health start-up in 2019.
When Vaishali pitched to me,
"Yash, I have expertise in mukhwas."
"You've worked in the food industry."
"Why not focus on one category and build a brand for India?"
- Very smart, Vaishali. Very smart. - Thank you.
What about your start-up?
Did you continue with that company or shut it down?
So, Farmse was the start-up.
I started it
with my childhood friend Raj who is also a CA.
And he continues that.
- Did you forgo your equity there? - Correct.
Just the thought of what you guys are doing is exciting
by using millet and a few new combinations.
- So, maybe let's try your products. - Absolutely.
Any time is a good time for mukhwas.
You can give the whole thing to me.
- Yes, the whole thing is for you. - Thank you.
How nice! Can I have the whole thing?
- Yes, it's for you. - Oh, nice. Wow!
- We've customised it. - They personalised it. Nice.
It's personalised, bro!
I have Audio Escape written here.
So, it's like a personalised thing.
This will be over in an hour.
This is so well done.
[music playing]
- The packaging is very nice. - Thank you.
Almond Delight is scrumptious.
It's delicious because you put almonds instead of betel nuts.
Yes, we don't use any sugar,
betel nuts or preservatives. That's our USP.
Very innovative.
- It's nice. - Is Sweet Neem good?
- Yes, it is. - What's Dry Fruit Millet?
It's a mixture of millet
with coconut sugar, dry fruits and seeds.
Okay.
Tell me one thing.
People keep munching on this all the time.
Will it cause any harm?
- No. - I'm really health-conscious.
[all laugh]
Why did you laugh
- when I said that? - He's health-conscious too.
- Yes, very nice. - I've to make this for him.
Very good.
The packaging is cool. It's cool and a little fun.
- It's nice. - So, the idea was
to give mukhwas a modern and new-age touch.
So, we went with funky,
but we've also kept the traditional Indian designs
as you see on the top.
Can I say something?
I stayed in the US for a long time and came back a few years ago.
I was researching on what businesses would do well in India in future.
I had a thesis.
There wouldn't be an Indian chewing gum company
but an Indian mukhwas company.
At that time,
a few people ventured into the organised retail of mukhwas.
There was a 'paan' chain.
Then there was Milan Supari
and I don't remember what the other one was.
Chandan had opened stores everywhere and then shut them down.
Yes!
They had a variety of mukhwas
and they had shops in malls and departmental stores
but it didn't work out for some reason.
What do you think happened?
Why didn't it work in the organised sector?
We did a lot of reflecting before starting this business.
These brands are not ready to change.
They still operate in the same traditional ways
and they are happy to give sugar
in whatever forms they want to and as unhygienic as they want.
India is changing now, Anupam.
- Right. - I think retailers also need to change.
Those packets and transparent pouches
like the kind Vaishali wore won't sell any more.
So, there will be a play.
Anupam, after the pandemic, what happened was
that people became more health conscious
and the organised sector...
So, the total mouth freshener industry stands at Rs. 15,000 crores
That's a big opportunity for us.
We believe that Joyspoon
is India's answer to global mouth fresheners,
showcasing India's place in the market.
Are there no organised players in Mukhwas?
There is Chandan, Bullion...
I am talking about the company
that sells mouth fresheners in such bottles.
- It's Chandan, Shadani, Bullion... - There are a lot.
- Okay... - How big players are they?
Bullion is approximately Rs. 100 crores.
Shadani is Rs. 50-Rs. 60 crores.
Chandan is similar. They are all traditionally built businesses.
Rs. 5,000 crores is not a huge amount.
80% being unorganised
Rs. 4,000 crores is already out, leaving Rs. 1,000 crores.
Who is the biggest player out of that and what is their revenue?
- They earn the biggest revenue. - What is their revenue?
I don't know the exact numbers,
but their market is approximately Rs. 250 crores.
As far as I know about the Mukhwas market,
it is mostly
sold in Paan shops.
It is sold in sachets there, right?
So, it's a sachet-based product.
I am sure that out of Rs. 1,000 crores,
- this company also sells sachets mostly. - Right!
- That is the majority. - Do you have that SKU?
We've launched sachets,
But we are not selling to the paan shops currently.
First, our short-term plan is to scale on quick commerce.
Is that a good idea? I am not sure. I am asking
because you have to create a category there.
Here, there is an existing category.
Recently, someone launched a mouth freshener.
It was a candy. That is a Rs. 200 crore business.
- Correct. - Because they used the existing network.
- Pulse! It's Pulse. - Pulse.
Why didn't you come up with a similar strategy?
Where you could take these alternative products
to the same distribution channel.
Anupam, when we analysed online data
on this category's engagement online,
we found that people are actively searching for this product
across platforms like Amazon and quick commerce.
What's it that people aren't finding or is it that millennials and Gen Z
aren't actively looking for it? The current Mukhwas options
seem more suited for their parents
or perhaps they associate this habit with older generations.
If we make Mukhwas interesting,
which we noticed in the last 11 months,
people want such a product in the market.
Once you start munching on it,
you will regularly... Let's assume you reach the office at 11 am
- and want to munch... - I understood. I would like to say
that when you make sachets, even if it's for quick commerce, e-commerce,
trying it becomes easy. You can carry it anywhere.
To take this and decorate.
This is offered when people visit on Diwali.
But it is not something that you will use every day.
- As far as I know. - So, we've created...
Unless you use it as a snack.
Unless you use it as a trail mix, right?
If we look at it like a Mukhwas,
it's not a consumable format according to me.
That's why we've created an assorted box
containing sachets of eight different flavours.
We give you the sachets with our visiting cards in them.
- We made sachets with eight different flavours. - This one.
This is to let people try different flavours.
We are certain that once they give it a try, they will buy the bottles.
Yash and Vaishali, didn't you think
that this category is quite restrictive?
You are right, Aman.
I believe that, in the long run,
we don't want to limit the company to Rs. 100 crores.
- We aim to scale it to Rs. 1,000 crores. - Wow!
When we came up with the name Joyspoon,
we were very intentional about not calling it Joyspoon Mukhwas
or anything similar.
In the future, when we cross Rs. 50,000 crores,
- there is a lot to indulge in in this category in India. - Yeah!
So, we will incorporate all of that
and chart the journey from Rs. 100 crores to Rs. 1,000 crores.
How much is this for? What is it priced at?
The price range is Rs. 100-Rs. 250.
- One bottle? - This one sachet is for Rs. 20.
- Is this for Rs. 20? - We don't sell single sachets.
Even so.
Anupam, when we sell this individually to hotels,
we sell it at Rs. 7-Rs. 8.
- Per sachet? - Yeah!
This is for Rs. 7?
- Yeah! - No, Rs. 20.
Those who operate at Rs. 1.2 per gram
has 60% sugar.
We will reduce it further in the future.
What is your current price?
- It's double. - Double?
Compared to a certain brand.
How much will the same size cost?
Rs. 1 or Rs. 2.
You said you are two times more.
That's not true.
You are around 15x more expensive.
You are doing two things.
One is Mukhwas
and the second one is trail mix or what you call munchies.
- Nuts! - As far as I understand, they are two separate categories.
Children or
anyone who wants to have a mouth freshener,
they won't eat these mostly
which contains nuts and seeds.
And health fanatics will find a substitute.
- Yes! - But these markets are different.
The other brand will not make a product
- with seeds and grains, right? - Yes.
- They are only capturing the mouth fresher market. - Correct.
You are targeting two markets simultaneously,
which is causing confusion.
You're producing both sachets and bottles
but haven't clearly defined the positioning.
In India, Mukhwas has been around for many years,
much like seven seeds.
We are calling it a trail mix
because we came across this term in Western countries.
But Mukhwas is essentially a trail mix as well.
Because it's a mixture of nuts and seeds in some way,
the categories will overlap.
But we are particularly focussed on Mukhwas.
Share the revenue
- achieved over 11 months. - Tell us about your business.
Revenue, margin,
EBITDA and cash flow. How many customers are purchasing...
Also, supply chain. You manufacture it and make recipes as well.
So, let me share the revenue for the last three months.
In July, our revenue was approximately Rs. 5 lakhs.
In August, it was Rs. 9.7 lakhs.
In September, we've already crossed Rs. 13 lakhs
we generated Rs. 38 lakhs.
From April to July, growth was slightly flat
as we were waiting for the new packaging,
which launched on 1st August.
What are the projections for this year?
We will approximately close at Rs. 2.5 crores,
that too because our quick commerce was recently finalised.
By Diwali or shortly after,
we will be live on all these platforms,
which will drive our revenue growth.
It is Rs. 17 lakhs currently, how much is the profit?
Currently, we are burning Rs. 4 lakhs.
How much is the marketing cost?
Rs. 3.5 lakhs.
Joyspoon Experience Store.
Last month, it was 10%.
Where is the rest from?
35% of our sales is through the website.
- Your own website? - Correct.
10% is through online marketplaces.
25% we do B2B.
Used for gifting and wedding channels.
And 30% of our business comes from offline channels.
Of this, 10% is contributed by our store,
while 20% comes from exhibitions and pop-ups.
We have also started small-scale offline retail.
What is the differentiation between you and the other company,
according to you?
Namita, the first differentiation is
that they are just sugar balls and fennel seeds.
We are not doing that.
Our mouth fresheners and Mukhwas
are better compared to those in the unorganised sector
and are often made by women in boutique setups.
Second, we believe...
the habit of consuming it regularly.
And that story we continue in all our communication.
In fact, if you look at all our illustrations,
it is on some or the other moment of joy.
And the third one is the team we developed.
Of course, my grandma and mom
have contributed a lot.
But other than that, we have a chief curator in place.
We have a food technologist in place.
In fact, our investors...
One of the first investors was 100X.VC.
And then we did a strategic round
where we got participation from 50-year-old FMCG company
in Gujarat, biggest in oils.
He is extensive in offline.
These connections we built
with our own tea, of course.
We have hired a team of 10 in Ahmedabad.
How much percent do you both have?
We have a total of 80% with us.
We've given 2% to Raj
because we generally thought he owned this.
Who is Raj?
The one with whom I started Farmse, Anupam.
- Understood. - You gave him 2%. What about the remaining 18%?
100X.VC owns 15%.
You must have offered it based on their standard terms.
- At what valuation? - Standard terms.
Rs. 1.25 crores at Rs. 8.3 post-money.
We raised this in September 2023.
Rs. 1.25 crores at a valuation of Rs. 8.3 crores.
We did another strategic round in June
with the strategic person.
We had a good investor from Surat. The director
- of IVY Growth Associates. - What was the valuation?
- We did that round at a post-money valuation of Rs. 18 crores. - Wow!
How much did you raise?
- We raised Rs 56 lakhs more. - When was this?
- June... - 2024.
the packaging and launching it over the past three months,
the response has been phenomenal.
- In fact... - In the last three months, have sales increased by 50%?
It has gone 4 times, Anupam.
- In the last three months? - Yes!
It doesn't matter. Your exit is Rs. 2.5 crores, right?
- It went from Rs. 5 lakhs to Rs. 17 lakhs. - At Rs. 2.5 crores,
how are you asking for a valuation of Rs. 26 crores?
Ten times sales!
Those who have joined us
are the veterans in the industry. They saw something
in our execution capabilities.
If you had seen the product
with its old packaging
and then witnessed the transformation,
we noticed the growth in revenue.
This change also strengthened investor confidence in us.
Also, our product got approved by airlines also.
We showed them the product and cracked them
and investors were confident that we can grow this.
We have launched our offline pilot in Ahmedabad, Surat, and Mumbai.
we'll begin implementing the same playbook and expand city by city.
Just like what Kerala Banana Chips did
successfully through that model.
Yash and Vaishali, it was great talking to you.
I feel uncomfortable saying no,
but I believe your losses are significant.
Aman, I'm stopping you right there because you mentioned losses.
Out of the Rs. 4.5 lakh loss,
Rs. 3 lakhs go towards our team,
and both of us take Rs. 1 lakh.
You started four businesses before boAt
and no one talks about that.
But we know that I couldn't scale it in Farmse.
People know that.
But Joyspoon is going to be a success story and we'll make it.
- I hope... - When it comes to speakers, people think of boAt.
Similarly, people will think of Joyspoon when it comes to Mukhwas.
- I am sure. - I guarantee.
- What enthusiasm! - Very good!
- Full marks for that. - I am certain you will do it.
You will do much better.
You just mentioned that you have investors.
We have even secured a valuation of Rs. 18 crores.
I don't think it's fair to negotiate with you over valuation.
That is quite high.
Unfortunately, I can't join you in this category.
Forgive me, but I am out.
- No! Thank you! - Thank you, Aman!
It's great to see that someone is trying to bring
my long-held thesis to life.
I always strongly believed that I would find a company
that would build a big business in this space,
- and I would invest in it. - It's here.
And then...
It has arrived, but perhaps I am unable to recognise it.
- They don't give up. - I've realised that Mukhwas
is an on-the-go, impulse product,
making it challenging to establish it as a branded offering.
In companies like these,
unless you own around 20%,
exiting and ensuring returns...
I mean, making money on money invested becomes difficult.
Even if you return 10x, how much will you make?
At some point, it doesn't make sense for my time and my cap.
For that reason, I am out. Good luck.
Give my regards to your grandma and mom. All the best.
- Thank you, Anupam! - I want to give you a feedback.
You are mixing two things.
Mukhwas, especially for Gujaratis and many others,
is a comfort food, right?
It's meant to be eaten in a certain way.
But you're adding neem,
nuts, and other ingredients,
it doesn't go
in that direction.
For that reason, I am out.
- Thank you! - Thank you!
The biggest problem I see in your company is that,
in Ahmedabad,
where I have a couple of startups. I've noticed
a strong community of investors.
It's great to support companies.
But in this case, for example, your valuation was Rs. 8 crores.
- How much is it now? - Rs. 18 crores.
You already secured Rs. 18 crores.
Now, your valuation is Rs. 24 crores.
If investors don't see returns, they won't stay.
Now in this chicken and egg problem and you're not the only one.
Many companies find themselves stuck in this loop.
It is tough to get out of this.
Because of that, it makes it very difficult...
But Peyush, to have you guys on board,
I would really like you to consider it and make
- a decision if possible. - I am out.
Because I've seen how messy it can get.
You have too many investors at different valuations.
Everyone has their own goals.
Otherwise, keep working. Best of luck.
First of all,
your story of dating for 11 years is my story too.
I met
my then girlfriend, now my wife, 11 years ago.
I often wonder
what it would have been like if we had built a business together.
Seeing you both, I feel like this is probably how it would have been.
And maybe we would have even named our baby Joyspoon!
But currently your business...
My colleagues mentioned
that it's in a unique position,
where you could either be a trail mix brand
and you can call it snacks or whatever you like.
The premium category
is not a big market currently in India.
Say that you want to grow that market.
That is a segment.
Over there our strength would be that we'll make a D2C brand,
and tell our customers why they want this category and things like this.
Similarly, you can create one more category
that is from Pulse...
There is a popular line from Jeff Bezos.
Your margin is my opportunity.
If you are selling for Rs. 2,
we will give you a better product for around Rs. 1.75.
But the way to make that category and investment is different.
I was trying
to understand your decision and the direction you want to take.
Ritesh, we might be here and there as everyone mentioned.
But with your support and guidance,
we believe we can scale this to Rs. 100 crores or even Rs. 1000 crores.
If you look at it from that perspective, we are open
to making the necessary changes.
What we have built so far comes from our experience,
what we have learned over the last 4-5 years,
and, of course, her mom helped.
We have implemented that.
But there is an opportunity
for this in hotels as well.
My vision is also
to give a sachet of Mukhwas with a coffee sachet in every room.
So, we will look at the inputs...
Let him give you his decision.
Fortunately or unfortunately, you managed
to change my decision. I had initially decided
not to invest in your company.
But you are nudging me,
so I believe
I can make a conditional offer for you.
- That is great. - Okay.
The conditional offer is that
if you decide to fully commit
to the Mukhwas category
and focus on capturing market share within it,
but I will take 2% equity instead of 1.5%.
Decide now!
- So, Ritesh! Let's do it! - Deal done!
'It's my deal!'
Come!
- Have fun! - Bye!
'I think no other show in India can offer what Shark Tank is providing.'
The confidence... We've definitely pitched at many places.
But the preparation that went into this...
We never prepared so much.
Being able to pitch on such a big platform,
in front of people who have built successful businesses,
is the kind of opportunity that Shark Tank provides.
I am forever grateful for this.
There are some categories that require a long and grinding journey.
If you don't own around 15% and instead hold just 1.5%
at these valuations, it will be
- very hard to make money. - Rs. 40 lakhs won't change much.
If any entrepreneur comes here,
in a way, what you're doing isn't right.
You invest in any entrepreneur.
You are right! Listen to my perspective.
The founders were exciting, no one had issues with them.
The category is interesting.
A couple of Sharks felt...
I am not sure if everybody felt that way.
But there were some who did feel that way.
My view is,
as Anupam said, these companies need a 10-year grind.
If the company performs well, there will be high spikes,
and then I'll enjoy the upside.
But if challenges arise,
I'll bear the biggest risk. Why?
Because I'll have to invest more capital to increase my ownership.
That's how I see it.
- Hello, friends! - Hello!
- How are you? - Full of joy!
Full of joy?
Very nice!
I watched your pitch.
I want to have lunch that only has Mukhwas
and then drink a spoonful of dal.
Okay! That should be the diet. Amazing job!
Both of you have been dating for a long time.
I felt a homely connection in your pitch.
I was thinking of ordering interesting gifts for you.
I opened Swiggy Instamart, ordered gifts
and they arrived in 10 minutes.
Thank you so much.
- This is for you. It has things for home decor. - Thank you.
There are wall hangings, lamps and lights. Okay?
Please enjoy and make your house more lively as you are.
- Thank you! - Thank you!
Don't let loneliness take up space in your life.
Order what you want from Swiggy Instamart.
The order is delivered in 10 minutes and you get almost everything.
Order now.
'Shark Tank India, co-presented by ACKO Insurance,
'PokerBaazi and Swiggy Instamart.'
'Co-powered by Adani and Jaquar Bath and Light.'
'And partners, Rayzon Solar, ICICI Direct, '
'Lenskart and Sofy.'
[music playing]
[theme music playing]
We are from Bengaluru.
Sharks, I spent the first 10 years of my life in a Hindi-medium school.
After that, I shifted to an English-medium school.
And I didn't even realise when 'Bhugol' became 'Geography'.
One language transformed my life.
Whatever little English I knew, I used up in the first period itself.
After that? Complete silence.
Sharks, this is my story,
but today, 9 out of 10 children in India
struggle to read and speak English.
in the grand theatre of life, only those with good English
are getting cast.
Sharks, do you know 85% of corporates
prefer English-speaking candidates.
to ensure
that no child is limited by lack of good English
and they get a very good start in life.
Bambinos.live
is a live, online English learning platform
for children aged 4-12 years.
India's highest-rated education brand.
I can assure you
that Bambinos.live is an edtech platform
that all the Sharks can trust.
And for that, our ask is Rs. 1 crore for 1% equity.
to educate and shape young minds
- Gaurav and Ashish, welcome to Shark Tank. - Thank you.
A lot of people are starting to appreciate it.
- Yes! - Okay! For regional languages.
India is gradually leaning towards regional languages.
Do you agree with that?
Namita, I believe regional language plays a crucial role
in building a direct connection.
But having good English
gives you an edge
and helps reach your full potential.
Very well said.
Our IT export
and domestic combined exceeds 200 billion dollars,
directly employing 10-15 million people,
with another 50-60 million dependent on them.
- And they run the entire economy. - Yeah.
I think it's been a great strength for our country, and I believe
- that global business language is English. - That's right.
- And every child should know. - That's right.
I saw children who completed their education from normal schools,
- but they can't speak English. - Yeah!
Right? They complete 11th and 12th grade.
- They don't get a job because they can't speak English. - Yeah!
And I have seen a lot of kids.
- I run an evening class. - Yeah!
For 12th pass and college graduates,
just to teach them English. And I have seen,
knowing English
and not knowing English
can change their job profile.
What problem are you tackling?
Education is a significant issue in India.
In my interviews with many young people,
I've observed that if their education
hasn't been strong,
they end up facing challenges.
And the foundation they start with limits their potential,
making it difficult for them to reach their full potential in life.
Their base starts from a low level.
I believe that has more to do with their schooling.
In K-12 education, there's a need for innovation.
When I look at investments outside of India,
most of them focus
on foundational levels of education for children.
I believe this is an opportunity
I'm passionate about and truly understand.
You started this business.
- You shared your story that you studied in Hindi medium. - Yeah!
Share your story and tell me how you started this business.
What did you do before this?
I was born and raised in Chandigarh.
I did my engineering from Punjab College and MBA from IIM Calcutta.
After that, I spent two years in startups,
including a year at Curefit.
After that, I reached a point in life
where entrepreneurship became my main driving force.
Education is my strong passion.
I've known Gaurav for the last 20 years.
We are both from Chandigarh.
He was a mentor at one point in life.
I graduated from IIM Calcutta in 1998.
After that, I worked on an assignment with Cartoon Network.
In my last assignment, I was a CEO at EuroKids Preschool.
We had around 1,200 schools and 80,000 students
and we successfully achieved an exit from it.
Let me go back in time
to when I was at Disney, we were also handling Disney Publishing.
What I learnt was...
We did something similar at Cartoon Network.
We should focus on both engagement and education for kids.
And I reached a point where I wanted to do something on my own.
And I like Ashish's idea.
We started working on it and then
- here we are. - What idea did Ashish pitch?
When we started, our idea was
in its early stages, where we wanted to focus on the children's sector.
To do something in education.
Gaurav has experience in EuroKids.
He has looked at the space that we are creating
in depth.
Early literacy skills are very important.
In today's day, it does not hold as much importance as abroad.
There's a lot of investment happening in this area.
Even in native English-speaking countries,
where significant investment is being made
in reading and writing skills.
Our vision is that the companies that are abroad
charge 20-25 dollars per hour for tutoring.
They want an affordable solution too.
For this to become a business,
it can only happen in India because the supply is here.
There are four markets in the world.
India, along with North America,
Europe, and Southeast Asia.
In every region, there are established edtech companies
in the ESL category. This is called ESL category.
It's generating a revenue of around 500 million.
India, which constitutes one-fifth of the world's population,
currently lacks a leading company in this space.
- English-speaking oriented. - Yes.
Every region has around 2-3 strong companies,
but India has none.
We believe Bambinos can achieve that position.
It will take a long-term commitment,
but it has great potential.
Why did you want to focus on children?
I had a strong passion for education.
When I was in Curefit, we launched
CultFit for kids.
It gave us a deeper insight.
There is an opportunity, parents are getting aspirational.
They want to develop their kids and the middle class is expanding.
They are not focused on making their children doctors and engineers.
They are looking at more skills.
We got an insight that
they are willing to spend a good amount of money
that they are ready to spend.
Secondly, as society progresses,
we felt the need to create something digital...
Which year was this?
This is around 2021.
Back then, there was a surge in edtech
- that's when you decided to venture into it. - No!
- We launched before that. - No, it was before that.
Let's understand your business.
- Because a lot of them fail to execute. - Yes.
To evaluate execution, we need to understand
precisely what you are doing.
Sharks, I'll give you a quick demo of our website.
And then, we will book a demo. We've also planned something.
Just to be clear, you are purely online.
- Yes, online! We will discuss it. - Purely online.
- Yes! - And live only.
- Not recorded. - No, not recording. Everything is live.
[music playing]
This is our beautiful website.
Bambinos.live.
We've made it immersive and informative.
You can see our levels and structure curriculums.
So, you can get every piece of information in a very
crisp and transparent way.
We have different courses.
Young Readers Program, Creative Writers Program,
Communicator Program, depending upon the interest
of the parent, you can choose a curriculum.
where we understand the child's level
to see which program fits him better.
Can I clarify?
Is it one-to-one or one-to-many?
Four maximum. We also have one-to-one.
For children aged 4-6 years, we limit sessions
- to one-on-one. Otherwise, there is an option. - Got it!
We've scheduled a demo for you.
- A teacher is waiting for you. - Thank you!
- They will make you experience what we teach. - What we teach.
So, are you all ready?
- Yes! - Thank you!
Okay, so we...
Over to Bhavisha. She is our teacher at Bambinos.
My name is Bhavisha, and I am an educator at Bambinos.live.
Today, I am going to give you a sneak peek
into a fun and engaging class.
You have these two options in front of you for your birthday.
Would you prefer Cake 1 for your birthday or Cake 2?
And why?
- Cake 2, why? Why would you like that? - It's colourful, ma'am!
Because it's like a rainbow.
Absolutely! It's colourful, it's got sprinkles,
oozing candies. Looks absolutely scrumptious, doesn't it?
But do you know, a lot of children
speak and write in English that looks like Cake 1.
So plain! So boring!
But we, at Bambinos, we empower our children
by teaching them how to use
different beautification tools and techniques
and show them how to speak and write to make their English look
colourful, attractive and have lots of flavours.
I hope you all know that there are 26 letters in English language. Yes?
But do you know how many sounds these 26 letters make? Any guesses?
- Million! - Who was that?
Millions? Wow!
Okay! That's too much.
- Let's be more realistic. - I don't know.
- I think 26. - So, these 26 letters...
26 letters make 44 sounds.
- That's it? - Yeah!
So, if you don't believe me, let's take the letter 'Y'.
How many sounds do you think this letter 'Y' alone makes?
- Two! - Three!
Two? Three? Okay, somebody said three.
- One also. - Star for you! Well done.
[drum roll]
So, it makes three sounds.
Okay, I am going to show you three words on the screen.
And I am going to tell you the three different sounds that 'Y' makes.
- Here it is! So, we have 'Candy'. - Okay.
We have 'Sky'.
And we have 'Yarn'.
If you see in 'Candy', 'Y' makes the sound of 'E'.
- In 'Sky', it makes the sound of 'I'. - 'I'.
- 'I'. - And 'Yarn',
- it makes the sound of 'yuh'. - It makes the sound of 'wuh'.
- Oh, nice! - Nice.
You are teaching this to children, but even we don't know.
[laughing]
Okay, great! So, if you want your English to go from boring to bravo,
join us on a magical English adventure.
That brings me to the end of this session. Thank you, Sharks.
You all were fantastic. I hope you enjoyed this.
- Thank you! - Thank you, teacher.
- You were very good. - Thank you!
- Well done! - Thank you!
- She was very good. - That was fun.
You spoke about sounds.
- You made it fun. - That's right!
- That's exactly... - And engagement is all about fun.
- That's right! - And relatability.
How many such teachers do you have?
About close to 250 teachers right now.
- I'll tell you about the teacher's profile. - Hmm!
- So, the average age of a teacher is 34 years. - Okay!
Everyone is a graduate,
minimum in English or BA.
50% post graduate.
Everyone has an experience of 7 years on average in terms of
teaching children.
Their average salary is around Rs. 25,900
for 4 hours a day.
- Are there people who work 8 hours? - Yes.
- Do they make Rs. 50,000? - They make more.
- With incentives... - Most of our teachers make Rs. 1.2 lakhs.
- But on average...- I have a last question linked to this.
- Yeah! - How many customers are in India and how many are abroad?
60 per cent of our business comes from India.
15 per cent of it is from our neighbouring countries.
The rest are split between the Middle East.
Some customers come to us organically from the US market.
Our typical consumer is a child between 4 years to 12 years old.
The sweet spot is between 6 years and 10 years.
Almost all the children go to private schools.
Their annual fees range from Rs 60,000 to Rs 1 lakh.
The average annual household income
of these families is around Rs 20 lakhs.
We are targeting almost 12 million such kids in India.
What is your charge per customer?
We have three plans
for three, six, and 12 months.
What is your average order size?
We get Rs 15,000.
How much are your CAC
and LTV, which will also determine the renewal rate?
So, our CAC right now is Rs 5960.
Okay.
LTV is Rs 31,000.
- 92 per cent because it has an upfront payment. - Right.
The CAC you mentioned was Rs 5960.
What is its distribution between India and abroad?
It must be close to Rs 4800 for India.
The remaining must be abroad.
- So, around Rs 1000. - Yes.
Two years ago, our sale was Rs 6.1 crores.
We will finish this year with a 15 per cent EBITDA margin.
Oh, well done!
- You will save Rs 4.5 crores this year. - Yes.
So, we raised a small round
- of Rs 3 crores - Yes.
from my Flipkart, Curefit and Amazon seniors.
- When did you do it? - When we started out 2 years ago.
- What was the valuation? - Rs 30 crores.
Is that all you raised?
Yeah. That's our raise. We have Rs 3.5 crores in the bank today.
Oh, wow!
How much is your mutual equity split?
I hold close to 55 per cent.
Gaurav has 27 per cent.
We've diluted 10 per cent.
8 per cent is with our employees.
How do you divide the work between you both?
So, I take care of the product.
I take care of customer experience.
I also take care of tech.
Gaurav takes care of the business,
marketing and sales.
- And who is the CEO? - I am the CEO of the company.
Let's assume you do well for three years.
The business reaches Rs 100 crores.
Will your next priority be to remain in English
- and go to the lower pyramid or - No.
give the same children more services?
We will give the same kids more services
as we can't change our target.
I don't want to spread my wings everywhere.
Our current mindset
focuses on making a good product for the consumer.
There is enough money on the table to take it.
I am working on English. I can do Maths, too.
I want to become a one-stop platform for the consumer. - Okay.
Ashish, I am mighty impressed by you.
You have complete clarity.
Your experience with Amazon is also focused.
I only see one weakness.
Your nature of being focused is also your strength.
But somehow, I feel
India's chief problem is still unsolved.
You're paying Rs 25,000 to the teacher. Right?
Considering that expense, you cannot take this to the mass level.
Then, this business is operating at the top of the pyramid.
Somehow, because of the ed-tech history,
your motivation is to chase money.
I am more interested in solving the problem.
I would have been interested if that were your motivation.
But as you clearly don't want to do that,
I am out right now.
Gaurav and Ashish, I still doubt this industry.
It doesn't seem stable to me right now.
This industry is growing.
There is growth in this industry again.
Companies are coming back.
Those companies will return and pour a lot of money.
Many funded players have entered.
They're adding more funding. I don't know what will happen.
I want to see this industry from the side.
So, for that reason, I am out.
Thank you.
I'll give you Rs 1 crore for 2 per cent,
but I want a 1 per cent royalty on your sales
to recover my money until I make 1x of my money.
Your content is your strength.
It will benefit you in the long term.
- Yes. - You can use it to get engagement in your content.
This is my offer.
I'll change my offer. Rs 1 crore for 1.5 per cent,
but I'll keep the royalty of 1 per cent.
- With the royalty deal? - Royalty is something I feel
- is a good proposition. - Yeah, I think we can do it.
Rs 1 crore for 1.5 per cent
[pensive music playing]
- I have a counteroffer. - Okay, tell us.
- Who is it for? - All the three sharks.
Rs 1 crore for 1.5 per cent
for all the three sharks without royalty.
I've seen this industry closely.
I've lost money on it. I've made money, too.
But it's clear
that you are also in the game of CAC and LTV.
You are also solving for supply and demand simultaneously.
Those problems can blow out.
As competition increases, which it will,
some of these metrics will go for a toss.
The best thing about you is discipline.
But when a macro shock appears, and someone enters with 100 million,
it becomes challenging to be that small guy who maintains discipline.
So, my point is
I won't enter without royalty.
He's got a great point.
We'll say that he will get the three of us
- but with only royalty. - 1.5 per cent.
- Come on. The game has changed a little. - Yes. The game has changed.
You only have one offer now.
1.5 per cent for Rs 1 crore and 1 per cent royalty.
But you get all three of us.
Okay, sharks. 1.5 per cent, 1 per cent royalty,
and Rs 1 crore! The deal is final.
- [overlapping voices] - Excellent!
[triumphant music playing]
[camera shutter clicking]
- Thank you. - All the best.
- Thank you, guys. - You're welcome.
- Bye. - Thank you.
We wanted to have Anupam on board.
That 1 per cent royalty doesn't matter to us.
Anupam matters more. We wanted to get that deal.
I'm sure all three sharks will add a lot of input.
We got the best of the deal that we wanted.
- Yeah. - So, we're delighted.
Welcome to Acko Changemakers,
where we really welcome change.
We saw it's beautiful expression
on our changemakers' wall.
We're empowering the change
in education using modern learning tools.
Today's changemakers are Ashish and Gaurav.
Come, sir.
- Welcome, sir. How are you? - Thank you.
- How are you? - Good.
The most interesting thing is that your platform
- has 97 per cent of women. - Yes. - That is commendable.
My question for you is, if our audience
wants to learn English daily,
what change can they bring about in their lives?
- They can make two changes. - Okay.
Firstly, they must read English as much as they can.
Be it in newspapers or magazines.
- That helps with learning. - Okay.
Secondly, they should try
- to communicate in English daily. - Yes.
That will reduce their hesitation and make them better.
So, these are the two tips. Read more
- and speak more in your comfort environment. - Okay.
Sir, you've brought about an amazing change.
Acko has brought about
an equally amazing change in the insurance space.
They've totally changed it.
There is zero waiting period for health insurance.
That means if you're healthy,
the coverage will start from the first day of the policy.
You can claim it without any standard waiting period.
Sir, on behalf of Shark Tank and Acko,
we want to give you a gift to welcome this change.
Thank you so much.
[camera shutter clicking]
Jaquar presents 'Bringing Good Ideas to Life.'
Guys, are not the pitches fantastic in Shark Tank India?
Many entrepreneurs's ideas have created waves of success.
I hope you didn't miss it.
No problem. Let's rewatch those moments.
Let's watch.
'Whoo!'
- 'Well done. - We are'
'Skate Supply India.'
'It's not merely a sport, but a lifestyle choice, which includes'
'hip-hop, fashion and street culture.'
'The one who will disrupt'
'the beverage industry is here! Boba Bhai!'
[laughing]
'Boba bhai is a QSR chain that sells'
'bubble teas, Korean burgers and K-pop ice creams.'
'Amazing!'
'We, mother-son duo, started this company on our terrace.'
'We made the world's most affordable and portable solar dehydrator.'
'It dehydrates the farmer's excess products so'
'that its natural colour, taste,'
'nutritive value and aroma remains intact throughout the year'
'without any sugar or preservatives.'
- 'It's delicious. - Wow!'
'It's good.'
'Clapstore Toys is a kids brand'
'that makes specialised toys to help children from 0 to 6 years'
'get rid of their cell phone addiction.'
'Our toys engage the kids'
'and trigger a positive stimulation.'
'That is so cool!'
- 'I will buy each one of them. - Where do you live?'
'Dhamtari is a small town in Chhattisgarh near Raipur.'
'I am from Indore.'
'I've done engineering from MIT, Pune.'
'I am Ravinder.'
'I am from Tarn Taran.'
'I am from Chandigarh.'
'Mr Sridhar Vembu made Zoho from a small town in Tamil Nadu.'
'Mr Chandubhai Virani made Balaji wafers'
'from a small town near Rajkot.'
'Shashank from DeHaat is also from Chapra, Bihar.'
'Several people have made well-known companies'
'from small towns.'
'So, I hope you join this list.'
[motivational music playing]
All the pitchers proved one thing.
Proudly made in India for the world,
just like Jaquar.
'Ask the Shark.'
Mr Aman Gupta, co-founder and CMO of boAt Lifestyle, is with us.
Today's question is by Vijesh Singh,
from Guwahati, Assam. He is 24 years old.
His question is this.
that money or fame didn't affect me.
I was the same when I didn't have money.
I would be happy and enjoy life.
I used to work for my happiness.
- I left my job when I didn't like it. - Right.
I've left three to four companies within a year or so.
So, I am always happy.
I've said it before.
It's better not to work if you're unhappy
because every day is a Sunday when you're happy working.
So, you enjoy working.
I will not remain myself if these things affect me.
I've given this power to many people around me.
'Let me know if you see me changing.'
Others judge you when you change.
They've not said so till now. It means I am still the same.
This is how I want to live my life.
I don't want to be affected by fame.
That's quite evident.
Do you find it tough to gauge people
Vijesh, I believe you've realised
that staying grounded keeps things sorted.
See you in the next Ask the Shark with a new question and a new shark.