1 00:00:32,240 --> 00:00:34,320 [music playing] 2 00:00:42,720 --> 00:00:44,680 [music playing] 3 00:00:51,040 --> 00:00:53,480 [theme music playing] 4 00:01:11,480 --> 00:01:13,280 Greetings, Sharks! My name is Rajat. 5 00:01:21,120 --> 00:01:25,360 Sharks, a mother's life is filled with difficulties 6 00:01:25,600 --> 00:01:26,960 and on top of that, these taunts. 7 00:01:27,040 --> 00:01:29,760 Sometimes from the mother-in-law, sometimes from the husband, 8 00:01:29,920 --> 00:01:32,480 and now, should I even tolerate taunts from the house help? 9 00:01:33,360 --> 00:01:36,880 In 2022, our house help used to taunt us a lot. 10 00:01:37,000 --> 00:01:39,880 She used to complain that our hair strands were all over the house. 11 00:01:39,960 --> 00:01:41,800 But mother, when I was young, 12 00:01:41,880 --> 00:01:45,640 my grandma made hair oil in a simple iron wok. 13 00:01:45,840 --> 00:01:47,600 Back then, my hair was long. 14 00:01:47,680 --> 00:01:49,920 Dear, things were authentic back then. 15 00:01:50,040 --> 00:01:51,520 Nowadays, everything is adulterated. 16 00:01:51,600 --> 00:01:53,880 So, bring the iron wok 17 00:01:54,000 --> 00:01:57,400 and we'll recreate your grandma's secret hair oil. 18 00:01:57,600 --> 00:02:01,640 After this, in 2023, Nidhi's Grandmaa Secret started. 19 00:02:03,120 --> 00:02:05,800 This is made from a natural ancient process 20 00:02:05,880 --> 00:02:08,720 where we use 13 types of herbs. 21 00:02:15,120 --> 00:02:17,200 People are selling anything and labelling it as natural. 22 00:02:17,240 --> 00:02:19,240 Am I right, Mr. Mittal? 23 00:02:19,320 --> 00:02:20,480 [laughing] 24 00:02:20,600 --> 00:02:24,120 If I present the scientific report, it will just get boring. 25 00:02:24,200 --> 00:02:28,960 But I will do something that will leave all of you stunned. 26 00:02:29,720 --> 00:02:32,160 - I will drink my hair oil. - What? 27 00:02:32,240 --> 00:02:33,600 - Who drinks hair oil? - No! 28 00:02:33,720 --> 00:02:35,200 I will drink it and so will you. 29 00:02:35,320 --> 00:02:38,760 She'll lose her husband in the process of trying to prove purity. 30 00:02:38,840 --> 00:02:40,480 - Come on! - Eww! 31 00:02:40,760 --> 00:02:43,840 This is my glass. 32 00:02:44,000 --> 00:02:46,000 And Nidhi, this is your glass. 33 00:02:46,080 --> 00:02:47,720 The hair will start growing inside. 34 00:02:48,680 --> 00:02:49,680 - Cheers! - Cheers! 35 00:02:52,120 --> 00:02:54,160 Enough! We get it. 36 00:02:54,240 --> 00:02:55,600 [gagging] 37 00:02:55,760 --> 00:02:57,640 [laughing] 38 00:02:59,440 --> 00:03:03,720 Our 13-herb hair oil is safe and non-toxic. 39 00:03:03,800 --> 00:03:06,560 If my competitor claims this, 40 00:03:06,680 --> 00:03:09,960 then I would ask them to come and drink their product. 41 00:03:11,240 --> 00:03:14,480 Within a year, we've had more than 1 lakh customers. 42 00:03:15,200 --> 00:03:17,800 We want our other products 43 00:03:17,880 --> 00:03:20,000 to be used in every household in India. 44 00:03:20,080 --> 00:03:23,920 - Sharks, our ask is Rs. 70 lakhs for 2% equity. - Wow! 45 00:03:32,720 --> 00:03:35,920 So, Rajat, Ms. Rajni and Nidhi, 46 00:03:35,960 --> 00:03:37,480 - welcome to Shark Tank. - Thank you! 47 00:03:37,560 --> 00:03:39,280 My help also scolds me... 48 00:03:42,520 --> 00:03:44,480 So, I am glad you are here with a solution. 49 00:03:44,640 --> 00:03:47,440 Tell me, when did you start and what were you doing before that? 50 00:03:48,200 --> 00:03:50,400 I was a software engineer. 51 00:03:50,480 --> 00:03:52,560 I got married in 2010. 52 00:03:52,640 --> 00:03:55,120 Three years after that, I gave birth to my son. 53 00:03:55,200 --> 00:03:58,320 But when he was around 3 years old, in 2016, 54 00:03:58,400 --> 00:04:01,720 he was facing behaviour challenges. 55 00:04:02,280 --> 00:04:04,800 It was becoming difficult for my mother-in-law to handle him. 56 00:04:04,880 --> 00:04:08,280 That is when I decided to quit my job. 57 00:04:09,280 --> 00:04:11,600 I started spending time with him. 58 00:04:11,800 --> 00:04:15,280 I used to take him to classes and wherever he had to go. 59 00:04:15,360 --> 00:04:19,080 And before we knew it, we were hit by COVID in 2020. 60 00:04:19,960 --> 00:04:22,800 That was the lowest point in my life. 61 00:04:23,240 --> 00:04:27,040 Because I couldn't go out or have social interaction. 62 00:04:27,120 --> 00:04:30,320 I was just busy with my son's online classes all day long 63 00:04:30,400 --> 00:04:32,600 and that is when I noticed hair fall. 64 00:04:33,080 --> 00:04:37,040 I remembered that I used to apply the hair oil my grandma made. 65 00:04:37,120 --> 00:04:40,640 I shared the recipe with my mother-in-law. 66 00:04:40,720 --> 00:04:44,480 And we started making it in our house in an iron wok. 67 00:04:45,120 --> 00:04:47,600 We applied it and within 2-3 months, 68 00:04:47,680 --> 00:04:49,560 we saw incredible results. 69 00:04:49,680 --> 00:04:51,720 After seeing these results, 70 00:04:51,800 --> 00:04:54,600 we shared them with our friends and family. 71 00:04:54,680 --> 00:04:59,080 Every other person complained about hair loss after COVID. 72 00:04:59,840 --> 00:05:01,360 I told my mother-in-law 73 00:05:01,440 --> 00:05:04,240 that the hair oil we made for ourselves, 74 00:05:04,360 --> 00:05:07,120 we would now make and give it to everyone. 75 00:05:07,280 --> 00:05:11,040 And without thinking more, we started making it. 76 00:05:11,120 --> 00:05:13,080 We made a WhatsApp group in our society 77 00:05:13,200 --> 00:05:15,440 and then we started selling it. 78 00:05:15,520 --> 00:05:17,600 What did you do before this? 79 00:05:18,600 --> 00:05:20,480 - This is my seventh brand. - What? 80 00:05:21,960 --> 00:05:25,640 I mean, many of them were failed brands. They were small brands. 81 00:05:25,800 --> 00:05:28,560 I've been trying to create brands since 2012. 82 00:05:28,800 --> 00:05:30,640 Before that, I was a digital marketer. 83 00:05:31,240 --> 00:05:33,480 In 2012, I launched my first website 84 00:05:33,560 --> 00:05:36,200 and started a few brands that did good business. 85 00:05:36,320 --> 00:05:39,800 And then my Google account got suspended. 86 00:05:39,880 --> 00:05:41,880 I used to run advertisements on it. 87 00:05:41,960 --> 00:05:44,400 But by then, Amazon had entered the market 88 00:05:44,520 --> 00:05:46,280 and new brands were emerging on the platform. 89 00:05:46,320 --> 00:05:48,160 That's when I created my brand, Kayos, 90 00:05:48,240 --> 00:05:49,680 for health and personal care. 91 00:05:49,840 --> 00:05:50,880 I needed to make money, 92 00:05:51,000 --> 00:05:53,440 so I started selling multiple products under one brand. 93 00:05:53,600 --> 00:05:57,600 Once COVID hit, everyone stopped pushing ads on Amazon 94 00:05:57,680 --> 00:05:59,800 because CACs were rising. 95 00:05:59,880 --> 00:06:01,400 So, I decided to pause my ads as well. 96 00:06:01,480 --> 00:06:04,120 The traffic was so high that my products were selling. 97 00:06:04,200 --> 00:06:05,240 But later, 98 00:06:05,360 --> 00:06:08,480 everyone around me secured funding when the market picked up. 99 00:06:08,560 --> 00:06:11,280 When I started advertising, the CAC was so high. 100 00:06:11,360 --> 00:06:14,080 My advertising cost per click was just Rs. 15, 101 00:06:14,200 --> 00:06:16,240 now, I was paying Rs. 65. 102 00:06:16,560 --> 00:06:18,920 The cost of my raw materials also went up. 103 00:06:19,000 --> 00:06:22,000 So, slowly and steadily, I was going out of business. 104 00:06:22,240 --> 00:06:24,080 But when Nidhi came to me, 105 00:06:24,200 --> 00:06:27,800 she was excited about the hair oil and claimed it was effective. 106 00:06:28,200 --> 00:06:30,280 Then we created an Instagram page. 107 00:06:30,360 --> 00:06:33,960 By God's grace, our first reel went viral on Instagram. 108 00:06:34,040 --> 00:06:38,040 It got 1 million views, and in one day, we received 100 orders. 109 00:06:38,680 --> 00:06:41,640 We got involved in that and since then 110 00:06:41,840 --> 00:06:43,400 we have sold more than 2 lakh bottles. 111 00:06:44,440 --> 00:06:46,080 Ms. Rajni, you tell us your background. 112 00:06:46,160 --> 00:06:49,200 I got married when I was 19. 113 00:06:49,320 --> 00:06:51,560 I didn't realise how life passed by. 114 00:06:51,800 --> 00:06:53,920 But whenever I met my friends, 115 00:06:54,000 --> 00:06:56,280 they had jobs, and some were doing something meaningful. 116 00:06:56,400 --> 00:06:58,720 At times, I would feel 117 00:06:58,800 --> 00:07:01,240 that I hadn't accomplished anything in life. 118 00:07:01,320 --> 00:07:03,280 When Nidhi came to me and said, 119 00:07:03,400 --> 00:07:06,800 'Mother, we will make this hair oil and sell it.' 120 00:07:06,880 --> 00:07:10,120 I also gathered the courage and agreed to join her. 121 00:07:10,640 --> 00:07:13,400 - I didn't think about all this. - In the beginning, they made 122 00:07:13,520 --> 00:07:15,840 - 10,000 bottles in the house. - We started from our house. 123 00:07:22,240 --> 00:07:24,200 I said, 'Don't worry! We will handle everything.' 124 00:07:24,320 --> 00:07:26,280 I asked her to go and get a bigger wok. 125 00:07:26,360 --> 00:07:28,080 She bought two huge woks. 126 00:07:28,800 --> 00:07:31,640 And we were making oil all day long. 127 00:07:32,960 --> 00:07:34,920 Do you have the photo of the wok? 128 00:07:35,960 --> 00:07:38,040 - Is this your house? - This is our factory. 129 00:07:38,120 --> 00:07:39,960 - Wow! - Amazing! 130 00:07:40,080 --> 00:07:41,640 Is this your factory, or are you outsourcing? 131 00:07:41,640 --> 00:07:42,640 - It's outsourced. - Okay! 132 00:07:45,640 --> 00:07:47,680 But we were in a dilemma. 133 00:07:47,760 --> 00:07:49,160 We didn't have enough money. 134 00:07:49,240 --> 00:07:50,960 I could take a loan and set up a factory, 135 00:07:51,080 --> 00:07:53,720 but then I couldn't focus on marketing. 136 00:07:53,840 --> 00:07:56,840 Initially, I didn't have a big team. 137 00:07:56,960 --> 00:07:58,840 Both of us used to make reels. 138 00:07:58,920 --> 00:08:00,360 Show us the reel. 139 00:08:15,680 --> 00:08:19,320 - This was our initial logo, but we changed it. - We changed that. 140 00:08:19,440 --> 00:08:20,880 Rajat and Nidhi, 141 00:08:21,000 --> 00:08:23,480 in Season 2, an elderly man was here with a similar story. 142 00:08:23,560 --> 00:08:24,560 Avimee Herbal. 143 00:08:32,200 --> 00:08:34,000 It is a very similar story. 144 00:08:34,680 --> 00:08:36,320 Why is it that 145 00:08:36,400 --> 00:08:38,800 the ancient remedies 146 00:08:38,920 --> 00:08:40,280 are coming back? 147 00:08:43,720 --> 00:08:45,520 Ancient remedies are effective. 148 00:08:45,600 --> 00:08:48,120 I think this happens with every generation. 149 00:08:48,200 --> 00:08:49,920 Nostalgia is always there. 150 00:08:50,000 --> 00:08:51,880 We tend to like old things. 151 00:08:51,960 --> 00:08:53,720 There's one more thing, a growing tailwind... 152 00:08:58,000 --> 00:09:00,320 People didn't value them in the past. 153 00:09:00,560 --> 00:09:03,600 Now, things are moving away from chemicals and things like that. 154 00:09:03,680 --> 00:09:05,920 So, it created a window. There's a marketing opportunity. 155 00:09:08,960 --> 00:09:10,320 I will give it to you. 156 00:09:12,960 --> 00:09:14,840 - This hair oil is our best seller. - What is this? 157 00:09:14,880 --> 00:09:16,200 This hair oil is our best seller. 158 00:09:16,280 --> 00:09:17,360 - This one? - Yes. 159 00:09:17,480 --> 00:09:19,240 - And this? - This is a scalp scrub. 160 00:09:19,360 --> 00:09:20,720 This is shampoo and conditioner. 161 00:09:20,800 --> 00:09:22,680 And this is a vermilion. Herbal vermilion. 162 00:09:23,680 --> 00:09:25,800 [music playing] 163 00:09:29,600 --> 00:09:31,160 Vineeta, drink this oil. 164 00:09:32,200 --> 00:09:33,600 I will follow your lead. 165 00:09:35,120 --> 00:09:39,120 This is for Rs. 599. This is a premium product. 166 00:09:44,440 --> 00:09:47,800 Herbal vermilion. Are you expanding your category? 167 00:09:48,120 --> 00:09:49,680 This is our fastest-selling product 168 00:09:49,760 --> 00:09:52,480 We launched it before Karva Chauth. 169 00:09:52,560 --> 00:09:54,400 And within 20 days we were sold out. 170 00:10:01,240 --> 00:10:03,240 Why did you add so many chemicals to this? 171 00:10:03,320 --> 00:10:04,840 It has floral pigments. 172 00:10:04,920 --> 00:10:06,920 We can't make this product without that ingredient. 173 00:10:07,840 --> 00:10:11,080 When you claim so much and drink the oil, 174 00:10:22,080 --> 00:10:24,760 Ah, I would take that as feedback. 175 00:10:24,880 --> 00:10:27,480 And I would like to improve on that. 176 00:10:27,560 --> 00:10:30,720 When the brand is small, they have to do a lot 177 00:10:30,840 --> 00:10:34,400 to make money or expand the category. 178 00:10:35,120 --> 00:10:38,080 The ingredients you've infused are coconut, 179 00:10:46,680 --> 00:10:48,840 ...there are these four main ingredients. 180 00:10:48,960 --> 00:10:51,480 It's not a big deal to drink virgin coconut oil. 181 00:10:51,960 --> 00:10:53,920 In oils, most brands don't add 182 00:10:54,120 --> 00:10:56,480 preservatives because it's not required. 183 00:10:56,600 --> 00:11:00,040 If others are making the product with these four products, 184 00:11:00,120 --> 00:11:03,200 the performance of both your products should be similar. 185 00:11:03,600 --> 00:11:06,840 No! Even if they add these four ingredients, 186 00:11:06,920 --> 00:11:08,520 they will be using extracts. 187 00:11:08,600 --> 00:11:10,680 The extract is made from alcohol processing. 188 00:11:11,800 --> 00:11:13,280 After that, you will see 189 00:11:13,360 --> 00:11:16,480 that they add fragrance to that particular product. 190 00:11:16,560 --> 00:11:18,040 We have not added fragrance. 191 00:11:21,000 --> 00:11:22,600 60% comes from our hair oil. 192 00:11:27,160 --> 00:11:30,120 I want to know whether grandpa's product is better or grandma's? 193 00:11:30,520 --> 00:11:31,680 - Grandma's is better. - Why? 194 00:11:31,800 --> 00:11:33,120 They launched a hair oil 195 00:11:33,240 --> 00:11:35,600 and I read 'mineral oil' mentioned in their ingredient list. 196 00:11:35,760 --> 00:11:37,360 What guarantee do we have that they won't 197 00:11:37,440 --> 00:11:38,520 add mineral oil to other products? 198 00:11:38,520 --> 00:11:40,240 We can't provide that assurance about your product. 199 00:11:40,280 --> 00:11:42,280 You could shift away from selling natural products. 200 00:11:42,400 --> 00:11:45,040 In our current factory, where we make hair oil, 201 00:11:45,120 --> 00:11:45,960 we don't make 202 00:11:46,080 --> 00:11:47,800 - other products there. - Tell me something. 203 00:11:47,920 --> 00:11:49,880 I won't read which factory this was made in. 204 00:11:49,960 --> 00:11:53,440 When a brand is created, it has a personality and purpose. 205 00:11:53,560 --> 00:11:54,640 Your personality can change. 206 00:11:54,640 --> 00:11:57,040 You are saying their product is bad and yours is better. That's wrong. 207 00:11:57,080 --> 00:11:59,520 Because their main hair oil that is sold, 208 00:11:59,600 --> 00:12:01,560 is that product better, or is your product better? 209 00:12:02,080 --> 00:12:03,760 Our product is better 210 00:12:03,840 --> 00:12:07,160 because when I saw their episode, 211 00:12:07,280 --> 00:12:09,120 their repeat percentage 212 00:12:09,200 --> 00:12:10,960 - was around 25%. - Hold on, Rajat. 213 00:12:11,160 --> 00:12:13,160 - That's not the question. Let me tell you. - Okay. 214 00:12:15,840 --> 00:12:18,680 - The category context is clear. It's hair fall. 215 00:12:18,760 --> 00:12:21,240 The second one is the point of differentiation. 216 00:12:21,360 --> 00:12:22,640 - That is what Aman is asking. - Hmm! 217 00:12:22,680 --> 00:12:25,920 And the next question is, why should we believe you? 218 00:12:26,000 --> 00:12:28,360 My point of differentiation 219 00:12:28,440 --> 00:12:30,280 is my brand-building capability. 220 00:12:30,360 --> 00:12:31,440 No! It is not. 221 00:12:31,520 --> 00:12:33,000 - That can't be. - Actually... 222 00:12:33,080 --> 00:12:34,240 Nidhi wants to say something. 223 00:12:34,320 --> 00:12:38,440 We use pure raw ingredients in our hair oil. 224 00:12:38,520 --> 00:12:40,640 All our 13 ingredients. 225 00:12:40,720 --> 00:12:45,040 Whenever we make it, my mother-in-law and I make it. 226 00:12:46,480 --> 00:12:49,560 We cut the ingredients during the process of making the oil. 227 00:12:49,680 --> 00:12:51,480 - Fresh ingredients. - We use fresh ingredients. 228 00:12:51,520 --> 00:12:54,040 Rajat, she is doing better marketing than you. 229 00:12:54,120 --> 00:12:55,400 She is being honest. 230 00:12:55,480 --> 00:12:57,960 But you are beating around the bush. 231 00:12:58,040 --> 00:13:00,000 The way Nidhi said it is with conviction. 232 00:13:00,560 --> 00:13:02,240 There is a report. 233 00:13:02,640 --> 00:13:03,960 May I give her a chair to sit on? 234 00:13:04,040 --> 00:13:06,680 - Please give her the chair. - Yes! Sure. 235 00:13:09,640 --> 00:13:11,960 You were discussing something 236 00:13:12,240 --> 00:13:14,200 about a clinical study. 237 00:13:14,320 --> 00:13:17,920 - Yes, a clinical study. - How much hair fall reduction occurs. 238 00:13:18,120 --> 00:13:20,800 We conducted a study with Mascot Spincontrol, 239 00:13:20,880 --> 00:13:23,720 who informed me that there are two types of metrics. 240 00:13:23,800 --> 00:13:26,000 One is subject self-evaluation, 241 00:13:26,080 --> 00:13:30,480 which refers to what the volunteers felt. 242 00:13:30,560 --> 00:13:32,040 There's subject self-evaluation. 243 00:13:32,160 --> 00:13:34,960 I can put 91% on the box, 244 00:13:35,040 --> 00:13:37,080 but to bring this on Shark Tank, 245 00:13:37,160 --> 00:13:39,880 I wanted to show the authenticated clinical data. 246 00:13:39,960 --> 00:13:42,080 What is the difference between that and clinical data? 247 00:13:42,160 --> 00:13:43,720 - It's real hair density. - Yeah! 248 00:13:44,240 --> 00:13:46,400 What happens is that the dermatologist 249 00:13:46,480 --> 00:13:49,560 checks how much hair fall occurs 250 00:13:49,640 --> 00:13:52,560 after combing each week when you visit. 251 00:13:52,640 --> 00:13:53,880 So, it's authentic data. 252 00:13:53,960 --> 00:13:57,200 - This study was conducted for how many weeks? - 8 weeks. 253 00:13:58,000 --> 00:14:00,240 First, we conducted a 4-week study. 254 00:14:00,320 --> 00:14:02,640 And the data was around 42%. 255 00:14:23,840 --> 00:14:25,880 A market... 256 00:14:25,960 --> 00:14:27,520 Why didn't you mention it on the bottle? 257 00:14:28,440 --> 00:14:31,800 Because we did our clinical study last month. 258 00:14:31,880 --> 00:14:34,240 We still need to rebrand our branding 259 00:14:34,320 --> 00:14:36,760 and mention it on the bottle. 260 00:14:36,840 --> 00:14:38,400 You are coming on national television. 261 00:14:38,520 --> 00:14:40,400 - Yes, sir. I know. - This was your opportunity. 262 00:14:40,440 --> 00:14:44,120 - I know, sir. - If this is your reason for the customer to believe, 263 00:14:44,200 --> 00:14:46,800 - then it should be on the front. - I know, sir. 264 00:14:48,040 --> 00:14:50,920 You had enough time to make some boxes. 265 00:14:51,040 --> 00:14:53,960 Sir, we had a lot of inventory and... 266 00:14:54,040 --> 00:14:56,240 Did you come here to clear your inventory? 267 00:14:57,320 --> 00:14:58,480 Strange! 268 00:14:58,800 --> 00:15:00,480 Tell us your numbers. 269 00:15:00,560 --> 00:15:03,160 We started in March 2023. 270 00:15:03,240 --> 00:15:07,520 From 1st April 2023 to 31st March 2024 271 00:15:36,920 --> 00:15:39,480 What were your oil sales last year? 272 00:15:39,560 --> 00:15:40,880 It was around 75%. 273 00:15:45,680 --> 00:15:47,080 We will go with Rs. 3.5 crores to Rs. 7 crores 274 00:15:47,080 --> 00:15:48,200 - so the number is constant. - Yes. 275 00:15:48,200 --> 00:15:51,080 - Yes! - Last year, out of Rs. 3.5 crores, 276 00:15:51,160 --> 00:15:53,320 around Rs. 2.5 crores came from oil. 277 00:15:53,400 --> 00:15:55,200 Yes! Around Rs. 2-Rs. 2.5 crores is oil sales. 278 00:15:57,160 --> 00:15:58,200 This year, it's 60%. 279 00:16:05,080 --> 00:16:08,480 Then why did you feel the need to enter other categories? 280 00:16:08,720 --> 00:16:11,320 Why not just make this Rs. 100 crores? 281 00:16:11,440 --> 00:16:12,960 Do you think there is a challenge in doing so? 282 00:16:12,960 --> 00:16:16,360 You can say that I am greedy. I want to grow faster. 283 00:16:17,040 --> 00:16:18,920 There are customers 284 00:16:19,000 --> 00:16:22,000 who ask for shampoo and conditioner 285 00:16:22,080 --> 00:16:23,240 along with the oil. 286 00:16:23,320 --> 00:16:24,800 - People say a lot. - So... 287 00:16:24,880 --> 00:16:28,600 But there is no differentiation in other products. 288 00:16:29,560 --> 00:16:32,080 No! But we have these products. 289 00:16:32,160 --> 00:16:35,040 If the customer enters the store... 290 00:16:35,120 --> 00:16:37,280 These products will cause problems. 291 00:16:38,200 --> 00:16:39,720 So, Rajat, 292 00:16:40,160 --> 00:16:41,680 your story here, 293 00:16:41,760 --> 00:16:42,920 with the grandma's remedies and the passion 294 00:16:42,920 --> 00:16:44,280 of the mother-in-law and the daughter-in-law. 295 00:16:44,280 --> 00:16:46,520 It's beautiful! I really feel 296 00:16:46,600 --> 00:16:48,360 that you have the opportunity to make 297 00:16:48,440 --> 00:16:51,520 this a Rs. 100 crore business. 298 00:16:51,600 --> 00:16:55,520 But the biggest barrier for you will be funding. 299 00:16:56,600 --> 00:16:58,920 When there is funding, there's pressure to meet goals. 300 00:16:59,000 --> 00:17:03,240 - My suggestion is you stick with this story and be patient. - Okay. 301 00:17:03,400 --> 00:17:06,960 It takes around 10-15 years to make such brands. 302 00:17:07,040 --> 00:17:09,240 But the profitability 303 00:17:09,320 --> 00:17:12,360 and brand value becomes incomparable. 304 00:17:13,120 --> 00:17:14,760 So, I am out. But best of luck. 305 00:17:14,920 --> 00:17:16,160 - Thank you! - Thank you! 306 00:17:17,040 --> 00:17:20,120 Rajat, I think you have a goldmine product. 307 00:17:20,200 --> 00:17:21,800 - Just go very deep. - Okay! 308 00:17:21,880 --> 00:17:23,640 There's no need to do 20 other things. 309 00:17:24,680 --> 00:17:25,920 I am out now. 310 00:17:26,960 --> 00:17:30,080 Because I think you only need capital, 311 00:17:30,320 --> 00:17:32,400 marketing and focus. 312 00:17:32,480 --> 00:17:36,240 I doubt I can add a special value. 313 00:17:36,320 --> 00:17:37,480 But best of luck. 314 00:17:37,560 --> 00:17:38,720 - Thank you! - Thank you! 315 00:17:38,800 --> 00:17:41,640 I think you are in a hurry, Rajat. 316 00:17:42,040 --> 00:17:45,040 When we have a string of failures 317 00:17:45,160 --> 00:17:47,480 and something finally seems to work, 318 00:17:47,560 --> 00:17:49,480 we get impatient. 319 00:17:49,680 --> 00:17:50,880 Is that happening with you? 320 00:17:50,960 --> 00:17:52,080 I am not greedy. 321 00:17:52,200 --> 00:17:53,680 I would not quit. 322 00:17:53,760 --> 00:17:55,920 If this shuts down, I have two more ideas. 323 00:17:56,000 --> 00:17:58,320 - Oh! - Amazing! 324 00:17:59,080 --> 00:18:01,480 Hold on! Why are you thinking like that? 325 00:18:02,920 --> 00:18:06,080 This business started 1.5 years ago. It's growing. 326 00:18:06,280 --> 00:18:08,120 You are doing this with your family. 327 00:18:08,520 --> 00:18:10,440 Rajat, if you always 328 00:18:10,520 --> 00:18:14,320 have a few backup options, your business will never grow. 329 00:18:15,200 --> 00:18:16,440 You did a good job here. 330 00:18:16,600 --> 00:18:18,800 If you were focussed 331 00:18:18,880 --> 00:18:20,800 and don't try to hurry, 332 00:18:20,920 --> 00:18:23,000 - this will gradually become big. - Sure. 333 00:18:23,080 --> 00:18:24,880 I don't think you need funding. 334 00:18:25,960 --> 00:18:27,440 I am out today. 335 00:18:30,680 --> 00:18:34,280 Honestly, if Ms. Rajni and Nidhi had come here, 336 00:18:34,400 --> 00:18:35,680 you might have received funding. 337 00:18:37,280 --> 00:18:39,120 Unfortunately, Rajat, 338 00:18:39,200 --> 00:18:40,960 I am not sure 339 00:18:41,080 --> 00:18:42,080 how you will... 340 00:18:42,200 --> 00:18:43,960 How can we earn your trust? You tell us. 341 00:18:44,040 --> 00:18:45,960 I felt that you are not serious. 342 00:18:47,560 --> 00:18:50,600 If I have such a product... I failed five times too. 343 00:18:50,680 --> 00:18:52,880 When the sixth one happened and I understood the product, 344 00:18:52,880 --> 00:18:54,880 and I understood how to do business. 345 00:18:54,960 --> 00:18:57,360 Shark Tank was on air, you should've learnt in three years 346 00:18:57,440 --> 00:19:00,080 and you are asking here. You said 347 00:19:00,200 --> 00:19:01,760 you would take the feedback and all. 348 00:19:02,800 --> 00:19:06,000 You need to become more serious about this business. 349 00:19:07,080 --> 00:19:09,920 I don't see that now. 350 00:19:10,080 --> 00:19:11,280 So, I will be out. 351 00:19:13,160 --> 00:19:16,280 Sir, if we somehow could earn your trust. 352 00:19:16,400 --> 00:19:20,040 We need you. You are the king of e-commerce. 353 00:19:20,120 --> 00:19:22,160 We are on Shopify, 354 00:19:22,320 --> 00:19:24,160 but I still haven't cracked Amazon. 355 00:19:24,240 --> 00:19:26,240 I really struggle with that. 356 00:19:26,400 --> 00:19:28,320 Why do you get so worried? 357 00:19:30,360 --> 00:19:31,280 The tiger is still here. 358 00:19:31,360 --> 00:19:32,520 Oh! 359 00:19:34,160 --> 00:19:38,040 I think that everyone said nice things to you. 360 00:19:38,720 --> 00:19:41,560 There is no one here who hasn't failed. 361 00:19:41,840 --> 00:19:44,960 Everyone has failed around 6 times, 362 00:19:45,080 --> 00:19:46,440 that's when they made a business. 363 00:19:47,360 --> 00:19:49,440 Right! So failure gives you character. 364 00:19:49,520 --> 00:19:50,680 Success builds ego. 365 00:19:51,080 --> 00:19:54,080 So, I think you are on the right path of building character. 366 00:19:54,160 --> 00:19:55,840 Whether you can build a business, 367 00:19:55,960 --> 00:19:58,440 - we'll only know as we move ahead together. - Yes, sir. 368 00:19:58,720 --> 00:19:59,840 So, I'll make you an offer. 369 00:20:01,320 --> 00:20:02,640 But I am betting on the hair oil. 370 00:20:05,160 --> 00:20:07,400 - Your sale is Rs. 4 crores. - Yes. 371 00:20:07,520 --> 00:20:10,480 Of hair oil. On that, if I put a valuation, 372 00:20:10,560 --> 00:20:14,440 my offer stands at Rs. 70 lakhs for 5%. 373 00:20:14,760 --> 00:20:17,760 And I'll take a 1% royalty 374 00:20:18,680 --> 00:20:21,720 until my investment is recouped. 375 00:20:29,160 --> 00:20:30,800 - 10%. - Rs 4 crores into 2, Rs. 8 crores... 376 00:20:30,840 --> 00:20:32,800 Thank you for your offer, Anupam. 377 00:20:32,880 --> 00:20:36,600 So, we have a small counter. 378 00:20:37,680 --> 00:20:39,440 We have no issue with royalty. 379 00:20:39,520 --> 00:20:42,360 Because it's just an administrative expense of 1%. 380 00:20:43,520 --> 00:20:46,080 If we could bring 381 00:20:46,160 --> 00:20:48,720 the equity to 3% and 1% royalty. 382 00:20:54,440 --> 00:20:56,040 - He said 10%. - 10%. 383 00:20:56,120 --> 00:20:58,400 - I asked for half of it. - I know. 384 00:20:59,280 --> 00:21:01,520 So, why are you bringing it down to 3%? 385 00:21:01,640 --> 00:21:03,400 See, you have to have skin in the game. 386 00:21:04,240 --> 00:21:08,360 1%-2% at this early stage is very hard. 387 00:21:09,800 --> 00:21:11,440 Sir, if we can do 4%. 388 00:21:16,480 --> 00:21:17,880 But the royalty will go up to 1.5%. 389 00:21:24,560 --> 00:21:26,800 You heard him. I made you a fair offer. 390 00:21:26,880 --> 00:21:28,720 That's why I made a fair offer. 391 00:21:31,760 --> 00:21:33,160 Let's keep the royalty at 1% 392 00:21:33,280 --> 00:21:35,480 - and equity will be 5%. - What should we do? 393 00:21:37,120 --> 00:21:39,480 [music intensifies] 394 00:21:40,320 --> 00:21:41,600 - Deal accepted. - Deal done. 395 00:21:49,200 --> 00:21:50,240 Yes. 396 00:21:52,040 --> 00:21:54,920 - Thank you so much, sir. - Okay, brother. See you. 397 00:21:55,320 --> 00:21:57,480 [music playing] 398 00:22:00,320 --> 00:22:02,200 - Hello, Rajat, Nidhi and Ms. Rajni. - Hi! 399 00:22:02,280 --> 00:22:04,640 - Hello! - Welcome to PokerBaazi Zone, where you hold the cards. 400 00:22:04,640 --> 00:22:06,920 - How was your experience? - It was good. 401 00:22:08,960 --> 00:22:12,120 There are a lot of similarities between poker and business. 402 00:22:33,640 --> 00:22:35,520 It becomes an entrepreneur's responsibility 403 00:22:35,600 --> 00:22:37,400 - to set their priorities. - Agreed. 404 00:22:37,480 --> 00:22:39,560 As I mentioned, Royal Flush is the most important. 405 00:22:39,680 --> 00:22:40,880 - It's the top winning hand. - Yes. 406 00:22:40,920 --> 00:22:44,200 A straight flush is the second strongest hand. 407 00:22:44,280 --> 00:22:47,120 Out of these ten functions before you, I want 408 00:22:47,200 --> 00:22:48,760 you to choose 5 functions 409 00:22:48,840 --> 00:22:50,760 and set the priority according to you. 410 00:22:50,840 --> 00:22:53,880 First, we will go with the product. 411 00:22:55,200 --> 00:22:57,360 Second, our customers are important to us, 412 00:22:57,480 --> 00:22:59,640 so we will go with customer service. 413 00:23:00,560 --> 00:23:04,640 - Then comes quality assurance. - Quality Assurance. 414 00:23:05,760 --> 00:23:07,040 And then comes... 415 00:23:07,120 --> 00:23:08,840 - Business Ethics. - Business Ethics. 416 00:23:09,040 --> 00:23:12,160 And then comes our team, human resources. 417 00:23:12,320 --> 00:23:15,440 This is very interesting. Quality Assurance at four of a kind. 418 00:23:15,520 --> 00:23:16,880 Why? Why is it in the third place? 419 00:23:16,960 --> 00:23:19,440 Because there are two things before it. 420 00:23:19,520 --> 00:23:20,640 First is our product 421 00:23:20,760 --> 00:23:22,480 because we cannot step back from that 422 00:23:22,560 --> 00:23:24,680 even if we spend 12, 24, or 48 hours 423 00:23:24,800 --> 00:23:27,320 working on a product. 424 00:23:27,400 --> 00:23:29,640 - We spend a lot of time on our product. - Okay. 425 00:23:29,720 --> 00:23:32,920 And then comes our customers. Another important thing. 426 00:23:33,000 --> 00:23:34,800 Then comes quality. 427 00:23:34,960 --> 00:23:39,080 If we crack those two, the quality is cracked automatically. 428 00:23:39,160 --> 00:23:42,520 Human Resources is in the fifth spot, at flush. 429 00:23:42,840 --> 00:23:45,760 Yes! Because they are our team. 430 00:23:45,840 --> 00:23:48,520 But the team comes later, the products come first. 431 00:23:48,600 --> 00:23:50,440 After that, the team comes... 432 00:24:10,040 --> 00:24:11,880 Go and make your winning strategy. 433 00:24:11,960 --> 00:24:14,040 - Sure. Thank you so much. Thank you. - Thank you. 434 00:24:14,120 --> 00:24:16,400 If you're also a master of your skills like them, 435 00:24:16,480 --> 00:24:17,760 then visit the PokerBaazi app, 436 00:24:17,880 --> 00:24:20,160 download it, apply your strategy, and secure a winning hand. 437 00:24:20,160 --> 00:24:22,040 Go and download the Pokerbaazi app now. 438 00:24:31,040 --> 00:24:33,040 [theme music playing] 439 00:24:56,400 --> 00:24:57,400 - Hello, Sharks! - Hello! 440 00:24:57,520 --> 00:25:00,080 For the last many years, we've known 441 00:25:00,200 --> 00:25:01,920 that the future is solar. 442 00:25:02,160 --> 00:25:05,560 This is right because solar is clean and green. 443 00:25:05,680 --> 00:25:08,360 But why isn't this future becoming our present? 444 00:25:08,920 --> 00:25:11,240 The solutions are available in the market, 445 00:25:11,320 --> 00:25:14,440 but the market is unorganised and there is no pricing standard. 446 00:25:14,520 --> 00:25:17,920 The customer doesn't know where to go and what to buy. 447 00:25:18,000 --> 00:25:20,160 Therefore, anyone can fool them. 448 00:25:21,120 --> 00:25:22,720 But not anymore. 449 00:25:22,840 --> 00:25:24,840 Because we bring to you 450 00:25:24,920 --> 00:25:27,640 India's first one-stop solar app, Solnce. 451 00:25:32,080 --> 00:25:33,800 Greetings, Sharks, I am Chintan Shah. 452 00:25:39,640 --> 00:25:42,960 But now, Surat will be famous for solar through Solnce. 453 00:25:44,280 --> 00:25:46,120 There is everything on this app. 454 00:25:46,200 --> 00:25:48,760 Would you like to know your solar needs? 455 00:25:48,840 --> 00:25:50,960 - It will be done. - Enter your electricity bill 456 00:25:51,040 --> 00:25:53,120 in the solar calculator on the Solnce application 457 00:25:53,240 --> 00:25:54,880 and your solar requirements will be ready. 458 00:25:55,120 --> 00:25:58,120 Which panel should I buy? I am unable to decide. 459 00:25:58,200 --> 00:25:59,360 We are here. 460 00:25:59,440 --> 00:26:02,200 Multiple panel brands are available on the Solnce application. 461 00:26:02,280 --> 00:26:04,680 And you can compare the price and quality. 462 00:26:15,720 --> 00:26:17,960 ...and that too with excellent quality. 463 00:26:18,720 --> 00:26:22,400 Installing solar through our app is as easy as ordering pizza. 464 00:26:22,480 --> 00:26:24,640 What now? After a one-time investment, 465 00:26:24,720 --> 00:26:27,360 your electricity bill becomes zero for a lifetime! 466 00:26:27,440 --> 00:26:29,640 Over the last three years, we've successfully solarised 467 00:26:29,720 --> 00:26:31,920 more than 1,000 homes and 150 industries. 468 00:26:32,000 --> 00:26:35,280 Our vision is to transform India into a solar superpower. 469 00:26:35,400 --> 00:26:37,200 For this, our ask is 470 00:26:37,320 --> 00:26:39,720 Rs. 1 crore for 1.5% equity. 471 00:26:48,280 --> 00:26:51,040 Solnce comes from 'Solar' and 'Alliance'. 472 00:26:51,120 --> 00:26:52,120 'A' is missing. 473 00:26:52,160 --> 00:26:53,200 Yes! Pronouncing it... 474 00:27:02,720 --> 00:27:03,800 How did you start Solnce? 475 00:27:03,920 --> 00:27:06,080 I am a chemical engineer. 476 00:27:06,200 --> 00:27:08,800 I did a lot of internships while studying chemical engineering. 477 00:27:08,880 --> 00:27:12,160 We had to go to GIDC for an internship. Industrial zone. 478 00:27:12,240 --> 00:27:14,400 There was a lot of pollution in the industrial zone. 479 00:27:14,480 --> 00:27:15,920 People are unable to breathe there. 480 00:27:16,000 --> 00:27:19,920 I didn't want to contribute to the pollution. 481 00:27:20,000 --> 00:27:23,520 So, I started researching renewable energy resources. 482 00:27:23,600 --> 00:27:25,760 Out of all the resources, I felt that 483 00:27:25,840 --> 00:27:28,200 solar is decentralised and scalable. 484 00:27:29,000 --> 00:27:30,320 Chintan, tell us about you. 485 00:27:30,400 --> 00:27:32,680 Sir, we were in the same college. 486 00:27:32,760 --> 00:27:35,000 I was his junior and he was my senior. 487 00:27:35,320 --> 00:27:37,680 I graduated in electronics and communications. 488 00:27:37,800 --> 00:27:40,040 There used to be elections in our colleges. 489 00:27:40,160 --> 00:27:42,280 We used to work together during elections. 490 00:27:42,360 --> 00:27:43,920 - And he... - Were you both politicians? 491 00:27:43,960 --> 00:27:44,960 Yes... 492 00:27:45,040 --> 00:27:47,560 I was the President of the Student Council in college. 493 00:27:47,640 --> 00:27:49,160 - Wow! - Through election? 494 00:27:49,360 --> 00:27:50,880 - Yes, through elections. - How many votes did you get? 495 00:27:50,920 --> 00:27:53,400 - 72%. - Wow! Amazing. 496 00:27:53,960 --> 00:27:56,080 Anyway, business is all about trade in Surat. 497 00:27:56,200 --> 00:27:58,240 So, we were always business-minded. 498 00:27:58,520 --> 00:28:00,120 When did you start? Which year? 499 00:28:00,200 --> 00:28:03,560 I started in 2019. 500 00:28:04,360 --> 00:28:07,360 Suppose I want to install this in my house, 501 00:28:07,560 --> 00:28:10,480 tell me, what do I have to do practically? 502 00:28:12,200 --> 00:28:14,480 This is the homepage of our application. 503 00:28:14,560 --> 00:28:16,600 So, this shows the solar services we provide. 504 00:28:16,680 --> 00:28:18,960 There's cleaning, maintenance, loan and new solar. 505 00:28:19,040 --> 00:28:20,600 You have to click on new solar. 506 00:28:55,600 --> 00:28:57,200 You can compare it. 507 00:29:32,640 --> 00:29:35,760 Our team will get back to you in 48 hours and resolve your problem. 508 00:29:37,120 --> 00:29:40,720 There are many big companies like Tata, Adani, Power Solar. 509 00:29:40,880 --> 00:29:43,560 Reliance is also in this. I will trust them. 510 00:29:43,680 --> 00:29:45,920 Why would I trust Solnce without 'A'? 511 00:29:47,000 --> 00:29:51,200 Sir, basically, Tata and Adani are manufacturers. 512 00:29:51,320 --> 00:29:52,520 They make solar panels. 513 00:29:52,600 --> 00:29:55,080 - But they also have agents and direct... - Distributor company. 514 00:29:55,080 --> 00:29:56,480 There will be a distributor or DSA. 515 00:29:59,120 --> 00:30:00,520 Tata might have many distributors 516 00:30:00,600 --> 00:30:02,640 who will get the same inquiry. 517 00:30:02,880 --> 00:30:04,560 And you will get different rates from Tata. 518 00:30:04,680 --> 00:30:07,200 Because the distributor who buys more material 519 00:30:07,360 --> 00:30:08,800 will be charged something else. 520 00:30:08,880 --> 00:30:10,760 Where do you fit in? 521 00:30:10,880 --> 00:30:14,440 Between consumer and distributor or consumer and company? 522 00:30:15,080 --> 00:30:17,320 We fit between consumer and company. 523 00:30:17,400 --> 00:30:19,200 We do engineering and procurement. 524 00:30:28,280 --> 00:30:29,800 - There's no distributor in that. - No! 525 00:30:29,800 --> 00:30:30,920 The distributor is visiting. 526 00:30:31,000 --> 00:30:33,080 No! The distributor is visiting for an installation. 527 00:30:33,480 --> 00:30:35,360 In the bidding, only the implementation cost 528 00:30:35,440 --> 00:30:36,640 - is being bid. - Yes. 529 00:30:36,720 --> 00:30:38,440 - There is no other variable. - No. 530 00:30:39,120 --> 00:30:42,440 Hold on! There is a serious channel conflict. 531 00:30:43,520 --> 00:30:45,120 Because the distributor... 532 00:30:45,280 --> 00:30:46,680 Tata or Adani has the distribution tie-up 533 00:30:46,720 --> 00:30:48,440 with whoever is in their area. 534 00:30:48,800 --> 00:30:52,400 - Now, you are interfering and disintermediating it. - Yes. 535 00:30:52,480 --> 00:30:55,480 You are capturing the lead and going directly to the company. 536 00:30:56,400 --> 00:30:58,760 Won't the distributor say, 537 00:30:58,840 --> 00:31:01,520 'Stop this or I won't service this area.' 538 00:31:02,640 --> 00:31:05,920 There is an MOQ. After that, you buy goods from the distributor 539 00:31:06,160 --> 00:31:08,440 until you reach the MOQ. 540 00:31:08,560 --> 00:31:10,680 Once your order quantity exceeds the MOQ, 541 00:31:10,800 --> 00:31:12,440 the company supplies directly to you. 542 00:31:12,600 --> 00:31:15,520 It's like buying a refrigerator on an e-commerce website. 543 00:31:15,600 --> 00:31:18,080 They have installation partners for installation. 544 00:31:18,160 --> 00:31:20,040 - Correct! But what is this? - They are buying the refrigerator 545 00:31:20,080 --> 00:31:21,360 - directly from the company and selling it. - Yes. 546 00:31:21,400 --> 00:31:22,720 Right! Correct. 547 00:31:22,800 --> 00:31:24,960 You are basically... 548 00:31:25,040 --> 00:31:27,000 - You can say integrator. - Integrator. 549 00:31:27,080 --> 00:31:28,200 System integrator. 550 00:31:28,280 --> 00:31:31,160 Did you create implementation partners for Solnce 551 00:31:31,280 --> 00:31:34,040 or were they existing people with whom you tied up? 552 00:31:34,280 --> 00:31:37,200 There were many existing solar providers with whom we tied up 553 00:31:37,280 --> 00:31:39,000 and gave them a complete structure. 554 00:31:39,120 --> 00:31:41,280 Till now, no one's solar journey 555 00:31:41,400 --> 00:31:43,520 has been structured. 556 00:31:44,000 --> 00:31:47,280 What percentage of solar energy is there in India as of today? 557 00:31:47,360 --> 00:31:49,880 Ma'am, 89.4 GW has been installed. 558 00:31:54,760 --> 00:31:58,280 It's not growing as fast as it should grow. 559 00:31:59,320 --> 00:32:01,280 Solar is policy-driven. 560 00:32:01,360 --> 00:32:04,160 The rules for the solar offset in each state 561 00:32:04,240 --> 00:32:06,360 are different. 562 00:32:06,600 --> 00:32:09,400 The PM Surya Ghar Muft Bijli Yojana initiated for residences 563 00:32:15,240 --> 00:32:17,440 Could this be the problem? 564 00:32:17,520 --> 00:32:20,360 - The CapEx or the upfront cost in this... - That increases. 565 00:32:20,480 --> 00:32:24,080 That's a lot and hence, the user doesn't opt for it. 566 00:32:24,160 --> 00:32:25,720 That's one of the reasons too. 567 00:32:25,800 --> 00:32:27,000 The second problem. 568 00:32:27,080 --> 00:32:30,360 During heavy monsoons, wouldn't you face a power problem? 569 00:32:30,440 --> 00:32:32,760 Solar panels work during monsoons 570 00:32:32,880 --> 00:32:35,920 and their production is about 30 to 40%. 571 00:32:36,440 --> 00:32:38,040 Anupam, what also happens is, 572 00:32:38,120 --> 00:32:39,520 when you generate excess energy, 573 00:32:39,600 --> 00:32:41,960 you're even contributing to the grid. 574 00:32:42,040 --> 00:32:42,920 How so? 575 00:32:43,000 --> 00:32:45,280 - By use of bidirectional meters. - Okay. 576 00:32:45,360 --> 00:32:48,560 Your current electricity meter is unidirectional. 577 00:32:48,640 --> 00:32:50,480 Power comes to you from the grid. 578 00:32:50,560 --> 00:32:51,880 Once you've installed a solar system, 579 00:32:51,880 --> 00:32:54,360 your service provider will fit a bidirectional meter. 580 00:32:54,440 --> 00:32:57,920 That way, energy can come to you and also be sent back to the grid. 581 00:32:59,480 --> 00:33:02,280 Is the per unit cost post subsidy cheaper 582 00:33:02,360 --> 00:33:05,200 or is solar energy cheaper even without a subsidy? 583 00:33:05,320 --> 00:33:07,040 It's cheaper with a subsidy. 584 00:33:07,120 --> 00:33:08,920 What if the subsidy is taken away? 585 00:33:17,960 --> 00:33:20,000 Tell us what stage you're at now. 586 00:33:20,200 --> 00:33:22,120 When did you start? What's the revenue? 587 00:33:22,200 --> 00:33:23,240 What's your EBITDA? 588 00:33:23,360 --> 00:33:25,040 - Do you remember all the questions? - Yes. 589 00:33:25,120 --> 00:33:28,040 Sir, the company was registered in 2021. 590 00:33:28,120 --> 00:33:30,760 Our sales in 2022-23 were Rs. 1.69 crores. 591 00:33:31,000 --> 00:33:34,680 - Our sales in 2023-24 were Rs. 18.99 crores. - Oh! 592 00:33:34,760 --> 00:33:38,040 And our year-to-date sales are Rs. 21.93 crores. 593 00:33:39,440 --> 00:33:41,320 Your gross margin must be negligible. 594 00:33:41,400 --> 00:33:44,880 No. The gross margin in the first year was 13.50%. 595 00:33:44,960 --> 00:33:46,960 It was 10.7% in the second year. 596 00:33:47,080 --> 00:33:49,880 And year-to-date, it is 13.7%. 597 00:33:54,280 --> 00:33:55,840 Consider it breakeven. Next year? 598 00:33:55,920 --> 00:33:57,320 1.7%. 599 00:33:57,440 --> 00:33:59,280 And the current EBITDA is 8.9%. 600 00:34:00,640 --> 00:34:02,320 Projected sales for the year? 601 00:34:02,400 --> 00:34:04,960 We'll cross Rs. 100 crores this year, sir. 602 00:34:05,040 --> 00:34:06,280 From 22 to 100! 603 00:34:06,560 --> 00:34:09,480 Yes, sir. We have orders worth Rs. 60 crores booked. 604 00:34:09,560 --> 00:34:10,760 - What are you saying? - Yes. 605 00:34:11,040 --> 00:34:12,320 How much profit will you make? 606 00:34:12,720 --> 00:34:15,200 Sir, 8 to 9% easily. 607 00:34:15,320 --> 00:34:16,360 - EBITDA? - Yes. 608 00:34:16,440 --> 00:34:18,000 You'll make Rs. 9-10 crores. 609 00:34:18,120 --> 00:34:18,960 In Rs. 100 crores, 610 00:34:19,040 --> 00:34:21,000 what's the break-up of residential and commercial? 611 00:34:21,720 --> 00:34:24,240 20-25% is residential. 612 00:34:24,360 --> 00:34:27,040 73-75% is industrial 613 00:34:27,120 --> 00:34:28,840 and the rest is auxiliary services cleaning... 614 00:34:28,920 --> 00:34:30,360 There are a lot of players. 615 00:34:30,480 --> 00:34:31,320 The main... 616 00:34:31,400 --> 00:34:32,520 As far as I understood, 617 00:34:32,600 --> 00:34:35,840 you were out to solve the problem of residential solar system. 618 00:34:36,960 --> 00:34:40,280 The process of buying for industrial is drastically different. 619 00:34:52,760 --> 00:34:54,680 You did Rs. 19 crores last year. 620 00:34:54,760 --> 00:34:57,000 What percentage of business came through the app? 621 00:35:01,640 --> 00:35:04,280 - Because your app that you pitched... - Yes? 622 00:35:04,400 --> 00:35:06,120 That is not your business right now. 623 00:35:06,320 --> 00:35:07,800 Right now, ma'am, because... 624 00:35:07,880 --> 00:35:08,960 It's your future hope. 625 00:35:09,040 --> 00:35:10,400 - Yes, exactly. - Exactly. 626 00:35:10,480 --> 00:35:13,240 The application will help us scale easily. 627 00:35:13,440 --> 00:35:15,040 From all of India... 628 00:35:15,120 --> 00:35:17,080 Got it, but its size is Rs. 2 crores. 629 00:35:17,160 --> 00:35:18,480 Yes. That will grow steadily, ma'am. 630 00:35:18,480 --> 00:35:20,840 Actually, ma'am, there was a lot we learned. 631 00:35:20,960 --> 00:35:22,760 There were many differences in technology too. 632 00:35:22,800 --> 00:35:25,040 We'll gradually start performance marketing 633 00:35:25,200 --> 00:35:27,320 and try to get more business. 634 00:35:27,400 --> 00:35:30,720 What part of Rs. 100 crores is the direct business from the app? 635 00:35:30,840 --> 00:35:32,880 In commercial business, the standard ticket size 636 00:35:32,960 --> 00:35:34,160 is Rs. 3-4 crores. 637 00:35:34,240 --> 00:35:37,760 Once business is generated through the app, we get referrals. 638 00:35:37,840 --> 00:35:41,160 Which MSME puts up a solar system costing Rs. 4 crores? 639 00:35:42,200 --> 00:35:43,440 Rs. 4 crores is a big amount. 640 00:35:43,560 --> 00:35:45,400 - That's not happening through the app. - Look. 641 00:35:45,480 --> 00:35:48,720 In our 10-acre factory, the total CapEx was Rs. 8-10 crores. 642 00:35:48,800 --> 00:35:50,640 Rs. 4 crores is a big amount for solar. 643 00:35:51,600 --> 00:35:54,040 Nobody puts up a solar system costing Rs. 4 crores. 644 00:35:54,120 --> 00:35:56,600 - People do. - They do, sir, and on a large scale. 645 00:35:56,680 --> 00:36:00,840 We believe we'll double the current order value 646 00:36:00,920 --> 00:36:02,200 within six months. 647 00:36:02,720 --> 00:36:04,480 There are a lot of tile manufacturers 648 00:36:04,560 --> 00:36:06,360 and all of them are MSMEs. 649 00:36:06,480 --> 00:36:07,960 There are no organised players, sir. 650 00:36:08,160 --> 00:36:11,680 The solar implementation companies in B2B 651 00:36:11,760 --> 00:36:13,160 have a turnover of Rs. 1,000 crores 652 00:36:13,200 --> 00:36:14,200 - in India already. - Yes. 653 00:36:14,320 --> 00:36:17,360 - SolarSquare is a big company. Rs. 400 crores. - Residential... 654 00:36:17,440 --> 00:36:19,080 Their forte is residential. 655 00:36:19,160 --> 00:36:21,120 We want to cater to MSMEs. 656 00:36:21,200 --> 00:36:23,560 As far as I understand, you want to cater to residential too 657 00:36:23,640 --> 00:36:26,600 because the buying process of B2B 658 00:36:26,720 --> 00:36:28,520 doesn't have that big a gap. 659 00:36:28,640 --> 00:36:32,920 - And eventually, it's quite a price-conscious game. - Correct. 660 00:36:33,000 --> 00:36:34,840 You currently save 9%. 661 00:36:34,960 --> 00:36:36,000 If a cross-bidding happens, 662 00:36:36,000 --> 00:36:37,880 a big company will go on the e-bidding platform. 663 00:36:37,920 --> 00:36:39,800 Your bid will not have much relevance. 664 00:36:39,920 --> 00:36:41,680 I'll get it even at 5%. 665 00:36:41,760 --> 00:36:43,880 - I'll even get it at 3%, right? - Correct. 666 00:36:44,000 --> 00:36:46,120 The MSMEs we cater to 667 00:36:46,200 --> 00:36:47,920 - are one-man armies. - Rs. 4 crores is not... 668 00:36:47,920 --> 00:36:49,520 We started with residential. 669 00:36:50,440 --> 00:36:52,520 They had factories in Surat. 670 00:36:52,640 --> 00:36:54,760 - Then they wanted it installed in their factories. - Got it. 671 00:36:54,760 --> 00:36:56,840 They invited quotations from many companies. 672 00:36:56,920 --> 00:37:00,080 Sir, even then, we gave them the best price 673 00:37:00,160 --> 00:37:01,600 and our services were also good. 674 00:37:02,680 --> 00:37:05,400 That's how we gradually moved from residential to industrial. 675 00:37:05,480 --> 00:37:07,680 From industrial, we moved to ground-mounted solar parks, 676 00:37:07,720 --> 00:37:08,960 - which is a vertical. - Got it. 677 00:37:08,960 --> 00:37:10,560 We got into solar parks. 678 00:37:10,640 --> 00:37:13,520 Even there, our rates were the lowest. 679 00:37:13,720 --> 00:37:15,320 That's how we got the implementation. 680 00:37:15,400 --> 00:37:16,640 Sir, those companies... 681 00:37:16,720 --> 00:37:20,120 There's a huge gap in the industry if I'm being honest. 682 00:37:20,200 --> 00:37:22,960 - No one's serving the long tail. - No one caters to MSMEs. 683 00:37:23,040 --> 00:37:26,120 - You wish to be an organised service provider... - Correct. 684 00:37:26,200 --> 00:37:27,320 With a service guarantee. 685 00:37:27,400 --> 00:37:28,840 - Correct, sir. Correct. - Correct? 686 00:37:29,440 --> 00:37:32,680 - 80% of your current business is commercial solar. - Yes. 687 00:37:32,960 --> 00:37:35,520 What's your differentiation there with the competition? 688 00:37:35,640 --> 00:37:37,480 Sir, ours is an engineering differentiation 689 00:37:37,600 --> 00:37:41,440 where we provide cost-saving with engineering developments. 690 00:37:41,560 --> 00:37:44,320 We have a substantial experience in the solar on-ground journey. 691 00:37:44,440 --> 00:37:48,520 So, we know how to save costs without compromising on quality. 692 00:37:48,800 --> 00:37:53,000 In commercial solar, which companies do you normally bid against? 693 00:37:53,400 --> 00:37:56,320 None of the big companies are in the MSME segment. 694 00:37:56,440 --> 00:37:57,600 Tell us about the market. 695 00:37:57,800 --> 00:38:02,280 Coming to solar power consumption projects. 696 00:38:02,480 --> 00:38:04,040 What's their size and growth? 697 00:38:04,360 --> 00:38:07,200 - Sir, currently... - In your segment. MSMEs. 698 00:38:14,680 --> 00:38:17,200 Sir, we want to build a company like yours 699 00:38:17,280 --> 00:38:19,240 where Solnce is doing 700 00:38:19,320 --> 00:38:21,520 the solar integration for all of India. 701 00:38:21,600 --> 00:38:24,800 Do you have a size in mind that you think might be your ambition? 702 00:38:24,920 --> 00:38:26,240 Rs. 7,000 crores. 703 00:38:27,920 --> 00:38:29,600 - In what time frame? - Billion dollars. 704 00:38:29,680 --> 00:38:30,680 3 to 4 years. 705 00:38:30,800 --> 00:38:33,120 Why Rs. 7,000 crores? That's not even one billion. 706 00:38:33,200 --> 00:38:36,200 - Rs. 8,300 crores, one billion. Unicorn. - Ah! 707 00:38:36,320 --> 00:38:37,160 Unicorn! 708 00:38:37,320 --> 00:38:41,120 Forget about the session with billion dollar, dollar and unicorn. 709 00:38:41,200 --> 00:38:43,680 We want to go beyond that, sir. This is a benchmark. 710 00:38:43,760 --> 00:38:46,000 - This is benchmark because... - Okay. Let's talk about revenue. 711 00:38:46,000 --> 00:38:48,000 You said you'll make a revenue of Rs. 8,000 crores. 712 00:38:48,760 --> 00:38:52,880 I believe your understanding of this space is exemplary. 713 00:38:53,960 --> 00:38:55,800 So, I'll make you an offer. 714 00:38:57,320 --> 00:39:01,520 Your ask is that of a B2C business, 715 00:39:01,920 --> 00:39:04,840 that you're a marketplace and a technology platform 716 00:39:05,040 --> 00:39:07,360 and the business will scale rapidly. 717 00:39:07,440 --> 00:39:10,040 I think this is a customer funnel 718 00:39:10,120 --> 00:39:12,400 and customer lifecycle management app. 719 00:39:13,600 --> 00:39:16,720 This is still a business that you need to sell every day. 720 00:39:18,560 --> 00:39:23,280 Such businesses are generally valued at 1x revenue. 721 00:39:24,560 --> 00:39:26,720 I'm ready to invest Rs. 2 crores 722 00:39:27,080 --> 00:39:28,800 but at a valuation of Rs. 20 crores. 723 00:39:29,160 --> 00:39:30,480 Just... Clean deal. 724 00:39:32,240 --> 00:39:33,360 10% equity. 725 00:39:33,520 --> 00:39:35,880 - Sir, we'd like to hear the offers of the other Sharks. - Of course. 726 00:39:35,880 --> 00:39:39,160 You spent the last three months making an app. 727 00:39:40,240 --> 00:39:41,960 I think it was a complete distraction 728 00:39:42,080 --> 00:39:45,880 because it solves the problem of only 10-15% of your business. 729 00:39:45,960 --> 00:39:48,360 You don't need an app for lead generation. 730 00:39:48,440 --> 00:39:50,240 That can be done online. 731 00:39:51,680 --> 00:39:55,520 I feel that to achieve your ambition of Rs. 8,000 crores, 732 00:39:55,640 --> 00:39:59,600 you think you need to build a brand and B2C app business 733 00:39:59,680 --> 00:40:03,200 and you can feel the pressure of it on your shoulders 734 00:40:03,280 --> 00:40:06,520 which is why you're investing your energy in these things. 735 00:40:06,600 --> 00:40:09,080 So, I suggest that you rethink. 736 00:40:09,160 --> 00:40:11,040 - For now, I'm out. - Okay. 737 00:40:11,120 --> 00:40:12,480 - Best of luck. - Thank you, ma'am. 738 00:40:13,400 --> 00:40:15,920 Well, um... Let's do one thing. 739 00:40:17,000 --> 00:40:18,240 You want to build a big company. 740 00:40:18,240 --> 00:40:20,400 I think you'll need to do multiple rounds. 741 00:40:20,760 --> 00:40:24,160 So, without diluting your equity much, 742 00:40:24,240 --> 00:40:25,320 I'll make you an offer. 743 00:40:25,480 --> 00:40:27,160 [solemn music playing] 744 00:40:27,760 --> 00:40:30,520 I'll give you Rs. 1 crore but for 3%. 745 00:40:30,920 --> 00:40:31,920 3%. 746 00:40:32,760 --> 00:40:35,720 But I want my investment safe 747 00:40:35,840 --> 00:40:38,040 because I'm trading it off against equity. 748 00:40:38,400 --> 00:40:40,480 Kunal has set your valuation already, 749 00:40:40,600 --> 00:40:42,120 but I'm giving you a higher valuation. 750 00:40:43,400 --> 00:40:45,920 So, I'll take 1% of your GMV as royalty 751 00:40:47,560 --> 00:40:49,160 until I get 1x. 752 00:40:52,240 --> 00:40:54,920 I have a slight concern. 753 00:40:56,960 --> 00:40:58,360 It is that eventually, 754 00:40:59,080 --> 00:41:02,240 the differentiation in this business is going to be limited 755 00:41:02,640 --> 00:41:04,720 because the price compression will be high. 756 00:41:04,800 --> 00:41:08,120 Of course, the differentiation can be built through execution 757 00:41:08,360 --> 00:41:13,160 but not as big a differentiation as is required. 758 00:41:13,240 --> 00:41:15,560 For that, either you build solar panels 759 00:41:15,920 --> 00:41:17,840 or introduce some other differentiation 760 00:41:17,920 --> 00:41:20,520 that will drive people to buy your products. 761 00:41:20,640 --> 00:41:22,560 - I... - We're working on that, sir. 762 00:41:22,640 --> 00:41:24,560 - Sorry to interrupt. - Will you make solar panels? 763 00:41:24,560 --> 00:41:25,560 No, not panels. 764 00:41:25,640 --> 00:41:28,040 By sending notifications through the application, 765 00:41:28,120 --> 00:41:29,520 we can track the health of the solar... 766 00:41:29,520 --> 00:41:30,920 You'll get a notification. 767 00:41:31,000 --> 00:41:32,800 Suppose you have solar panels at your factory. 768 00:41:32,920 --> 00:41:36,040 If the production is not optimum, you can't keep tracking it daily. 769 00:41:36,120 --> 00:41:39,080 Through timely notifications and updates, 770 00:41:39,160 --> 00:41:41,440 we'll keep the consumers engaged. 771 00:41:41,600 --> 00:41:44,120 Once you become a customer, 772 00:41:44,200 --> 00:41:46,640 you'll need a hybrid system after a while 773 00:41:46,760 --> 00:41:47,880 with a lithium-ion battery. 774 00:41:47,960 --> 00:41:52,000 We'll thus integrate our products and take this forward. 775 00:41:52,160 --> 00:41:54,360 Okay, I'll make you an offer. 776 00:41:54,960 --> 00:41:56,480 [solemn music playing] 777 00:41:57,880 --> 00:42:00,680 I'll give you Rs. 1 crore for 5% equity. 778 00:42:02,720 --> 00:42:04,160 No royalty. 779 00:42:06,760 --> 00:42:10,400 I don't think you need to give any royalty, okay? 780 00:42:10,720 --> 00:42:11,920 [laughter] 781 00:42:12,000 --> 00:42:12,800 No problem. 782 00:42:12,920 --> 00:42:14,080 I speak for myself. 783 00:42:14,160 --> 00:42:15,760 I don't think you should give a royalty 784 00:42:16,080 --> 00:42:18,280 or a 10% stake. 785 00:42:18,360 --> 00:42:21,640 What's the use of spending so much? There's no need for it. 786 00:42:21,760 --> 00:42:24,040 I'll make you a simple offer without royalty. 787 00:42:24,120 --> 00:42:25,840 You decide what's best. 788 00:42:26,040 --> 00:42:28,080 Rs. 1 crore for 3%, no royalty. 789 00:42:28,480 --> 00:42:30,000 [tense music playing] 790 00:42:33,400 --> 00:42:36,640 Aman, can we close this at 2%? 791 00:42:36,720 --> 00:42:38,920 Fine, I'll make it 2%. 792 00:42:44,640 --> 00:42:45,480 Think long-term. 793 00:42:45,560 --> 00:42:47,280 - Build a Rs. 8,000-crore company. - I'm Aman. 794 00:42:47,280 --> 00:42:49,000 - 1% is insignificant. - Who's Aman? 795 00:42:49,080 --> 00:42:50,120 - I am! - Rs. 8,000 crores. 796 00:42:52,360 --> 00:42:54,840 - I won't do it without royalty. - Keep one thing in mind. 797 00:42:54,920 --> 00:42:56,800 I think many times founders 798 00:42:56,880 --> 00:42:59,320 - take on investors for 1 or 2%. - I'm Aman. 799 00:42:59,680 --> 00:43:01,840 But you see, skin in the game. 800 00:43:02,280 --> 00:43:04,680 They should be highly involved. 801 00:43:04,760 --> 00:43:06,560 The skin in the game should be so much 802 00:43:06,720 --> 00:43:08,360 that if the company does extremely well, 803 00:43:08,440 --> 00:43:10,080 it is needle-moving for them also. 804 00:43:10,200 --> 00:43:11,200 Absolutely. 805 00:43:13,400 --> 00:43:14,560 [music concludes] 806 00:43:14,880 --> 00:43:16,080 I'm giving you a good deal. 807 00:43:18,160 --> 00:43:20,080 Don't refuse. I'm neither taking royalty 808 00:43:20,200 --> 00:43:21,600 nor do I want 10% equity. 809 00:43:21,680 --> 00:43:23,920 This is your company. You should have most of the equity. 810 00:43:23,960 --> 00:43:26,440 Then you'll buy it from me later, I don't want to get into that. 811 00:43:26,440 --> 00:43:28,720 - 2.5%. - 2.5% is a fair deal. 812 00:43:28,800 --> 00:43:29,800 Rs. 1 crore at 2.5%. 813 00:43:30,800 --> 00:43:31,800 Do it. 814 00:43:34,120 --> 00:43:35,120 - Deal done. - Done! 815 00:43:37,600 --> 00:43:38,400 - [laughs] - Good job. 816 00:43:38,480 --> 00:43:40,040 Yash also knew it, I also knew it. 817 00:43:41,960 --> 00:43:43,200 - Good job. - Thank you, sir. 818 00:43:43,280 --> 00:43:44,280 Please return my money. 819 00:43:44,320 --> 00:43:45,480 [laughs] Sure! 820 00:43:45,760 --> 00:43:46,760 [camera shutter clicking] 821 00:43:47,400 --> 00:43:50,320 'With Aman on board, it'll mainly broaden our reach.' 822 00:43:50,400 --> 00:43:51,840 He has built an online brand. 823 00:43:51,960 --> 00:43:55,240 He already has the expertise of building an online brand, 824 00:43:55,360 --> 00:43:58,040 and that will bring more people to our application. 825 00:43:58,120 --> 00:44:01,000 We know how to carry on with the process that follows well 826 00:44:01,080 --> 00:44:03,280 because we've done that day in and day out for so long. 827 00:44:03,360 --> 00:44:05,640 Aman is energetic and so are we. 828 00:44:05,760 --> 00:44:08,600 When our energies combine, it'll boost our sales 829 00:44:08,720 --> 00:44:11,640 and with his help, we might achieve our target in three years 830 00:44:11,720 --> 00:44:13,560 for which we have set a timeline of five years. 831 00:44:13,680 --> 00:44:15,160 [up-tempo music playing] 832 00:44:20,000 --> 00:44:21,520 [music concludes] 833 00:44:25,120 --> 00:44:29,400 and that is beautifully depicted on our Change Makers wall too. 834 00:44:30,000 --> 00:44:33,000 Through agritech innovations and renewable energy, 835 00:44:33,120 --> 00:44:34,920 we're building a sustainable future. 836 00:44:35,560 --> 00:44:38,400 We have with us today's Change Makers, Yash and Chintan. 837 00:44:38,640 --> 00:44:39,760 - Welcome. - Thank you. 838 00:44:39,840 --> 00:44:41,800 - How was the experience? - Amazing. 839 00:44:41,920 --> 00:44:43,280 - Great? - We were very excited 840 00:44:43,360 --> 00:44:45,080 as well as nervous, but it was fun. 841 00:44:45,200 --> 00:44:48,520 You're doing a great job as this is the need of the hour, 842 00:44:48,640 --> 00:44:51,000 the entire concept of renewable energy. 843 00:44:51,080 --> 00:44:54,120 Not only are you encouraging a new way of living 844 00:44:54,200 --> 00:44:56,040 through renewable energy, 845 00:44:56,120 --> 00:44:58,240 but are also making it an accessible marketplace 846 00:44:58,320 --> 00:44:59,880 by organising this unorganised sector. 847 00:45:00,280 --> 00:45:02,760 The audience of our show wants to know 848 00:45:02,840 --> 00:45:05,760 what changes can they bring about in their daily lives 849 00:45:06,200 --> 00:45:09,680 to make their energy consumption more renewable and sustainable. 850 00:45:09,800 --> 00:45:12,680 There are a lot of small changes that you can adopt 851 00:45:12,800 --> 00:45:15,400 to encourage more sustainability in your life. 852 00:45:15,480 --> 00:45:18,560 - For instance, use EVs and public transport. - Good, hmm. 853 00:45:18,640 --> 00:45:21,600 And reduce the consumption of electricity 854 00:45:21,680 --> 00:45:24,120 - wherever possible. - Hmm. 855 00:45:24,200 --> 00:45:26,560 You can start with these small changes. 856 00:45:26,640 --> 00:45:28,880 Secondly, our floors too, 857 00:45:29,000 --> 00:45:31,640 with the help of perovskite technology, 858 00:45:31,720 --> 00:45:34,680 can generate electricity when you walk on them. 859 00:45:34,840 --> 00:45:37,040 - We can switch our floors too. - Hmm. 860 00:45:37,120 --> 00:45:40,440 New technology is available but it has to be adopted 861 00:45:40,520 --> 00:45:42,880 to bring sustainability into our lives automatically. 862 00:45:43,000 --> 00:45:45,320 You are bringing about an imperative change 863 00:45:45,440 --> 00:45:48,120 just as ACKO, with its revolutionary offerings, 864 00:45:48,200 --> 00:45:49,720 is changing the insurance landscape. 865 00:45:49,920 --> 00:45:50,760 Don't make haste. 866 00:45:50,840 --> 00:45:52,800 Take advantage of ACKO's health insurance benefits 867 00:45:52,800 --> 00:45:56,480 such as 100% bill payments and a zero-waiting period. 868 00:45:56,720 --> 00:45:58,840 The sooner you get insurance in life, 869 00:45:58,920 --> 00:46:01,840 the lower your premium and the greater the health cover. 870 00:46:01,960 --> 00:46:04,120 We wish to appreciate your change, sirs. 871 00:46:04,200 --> 00:46:07,160 - Thank you. - We wish to give you a gift from Shark Tank and ACKO. 872 00:46:07,280 --> 00:46:08,280 Thank you. 873 00:46:08,760 --> 00:46:09,920 [music playing] 874 00:46:11,800 --> 00:46:12,800 [camera shutter clicking] 875 00:46:13,320 --> 00:46:16,240 'Shark Tank India co-presented by ACKO Insurance,' 876 00:46:16,320 --> 00:46:18,400 'PokerBaazi and Swiggy Instamart.' 877 00:46:18,480 --> 00:46:21,120 'Co-powered by Adani and Jaquar Bath & Light,' 878 00:46:21,200 --> 00:46:25,240 'and partners Rayzon Solar, ICICI Direct and Lenskart.' 879 00:46:25,600 --> 00:46:26,840 Oh, Born Good! 880 00:46:28,720 --> 00:46:29,840 I have Koparo. 881 00:46:30,520 --> 00:46:33,120 Very nice. Koparo is sweet... 882 00:46:33,200 --> 00:46:34,320 Is doing so well. 883 00:46:35,360 --> 00:46:36,840 Koparo's competitor. 884 00:46:38,000 --> 00:46:39,520 [theme music playing] 885 00:46:55,920 --> 00:46:57,480 [theme music concludes] 886 00:46:57,600 --> 00:46:58,920 - Greetings, Sharks. - Greetings. 887 00:47:01,840 --> 00:47:03,800 Sharks, we are gathered here today 888 00:47:04,080 --> 00:47:05,520 to pay our respects 889 00:47:05,680 --> 00:47:07,840 to my most favourite green 890 00:47:08,520 --> 00:47:09,640 who is no more... 891 00:47:09,720 --> 00:47:10,840 [chuckling] 892 00:47:10,920 --> 00:47:11,920 Green! 893 00:47:12,520 --> 00:47:14,440 It has been two years since it left 894 00:47:14,520 --> 00:47:18,080 and I honestly still can't process this news. 895 00:47:18,240 --> 00:47:19,800 After all, it was so young. 896 00:47:20,160 --> 00:47:21,560 [laughter] 897 00:47:23,000 --> 00:47:24,680 In all seriousness, Sharks, 898 00:47:24,880 --> 00:47:26,120 you often hear stories 899 00:47:26,200 --> 00:47:28,720 - of how soon our clothes fade. - Hmm. 900 00:47:28,840 --> 00:47:31,920 But we never stop to think about why this happens. 901 00:47:32,000 --> 00:47:36,240 I found out that the main reason for clothes fading 902 00:47:36,400 --> 00:47:38,600 is the harsh chemicals of laundry detergents 903 00:47:38,680 --> 00:47:40,080 like LABSA, 904 00:47:40,200 --> 00:47:42,440 which is also known as Acid Slurry. 905 00:47:43,040 --> 00:47:47,320 Not only does this toxic chemical rob our clothes of their colour, 906 00:47:47,480 --> 00:47:51,840 but it leaves behind a toxic residue which is very harmful to our skin. 907 00:47:52,120 --> 00:47:56,280 Regular cleaners, with which we clean our homes daily, 908 00:47:56,640 --> 00:47:58,400 along with cleaning, 909 00:47:58,480 --> 00:48:01,600 cause a lot of harm to our health. 910 00:48:01,680 --> 00:48:03,240 I could not bear to see this 911 00:48:03,320 --> 00:48:05,920 and that is how Born Good was, well, born! 912 00:48:06,120 --> 00:48:07,360 [music playing] 913 00:48:08,480 --> 00:48:10,480 At Born Good, we make 914 00:48:10,560 --> 00:48:14,240 high-performance, innovative and plant-based home cleaners 915 00:48:14,480 --> 00:48:16,720 using alternative ingredients 916 00:48:16,840 --> 00:48:18,680 like coconut extracts, 917 00:48:33,320 --> 00:48:35,680 we have novel products. 918 00:48:35,800 --> 00:48:38,720 For instance, our Colour Protect Liquid Detergent, 919 00:48:38,840 --> 00:48:41,040 Tablets and Concentrate Cleaners 920 00:48:41,120 --> 00:48:45,400 that use minimal packaging, energy and water. 921 00:48:45,480 --> 00:48:47,560 Sharks, home is a place 922 00:48:47,680 --> 00:48:50,720 where we ought to feel the safest 923 00:48:50,840 --> 00:48:53,320 but they've now become real danger zones. 924 00:48:53,560 --> 00:48:55,920 Green's death was merely a warning. 925 00:48:56,680 --> 00:48:58,280 If we do not take action, 926 00:48:58,400 --> 00:49:01,800 our skin, homes and planet 927 00:49:01,960 --> 00:49:04,160 will soon be in the danger zone as well. 928 00:49:04,240 --> 00:49:08,080 We've sent 1 lakh households to the safe zone yet, 929 00:49:08,280 --> 00:49:10,840 and our target is to be in 15 lakh homes 930 00:49:10,920 --> 00:49:12,320 in the next three years. 931 00:49:12,400 --> 00:49:14,640 For that, our ask is 932 00:49:14,760 --> 00:49:17,600 Rs. 70 lakhs in exchange for 1% equity. 933 00:49:19,200 --> 00:49:20,480 All right. 934 00:49:21,000 --> 00:49:21,840 Hi, Mohit. 935 00:49:21,920 --> 00:49:23,040 Hi! Hi... 936 00:49:23,160 --> 00:49:27,680 A warm welcome to you and the late green on Shark Tank. 937 00:49:28,080 --> 00:49:30,840 Um, tell us about yourself, Mohit. 938 00:49:30,920 --> 00:49:32,080 I'm from Bengaluru, sir. 939 00:49:32,160 --> 00:49:34,240 I come from a family business background 940 00:49:34,360 --> 00:49:37,280 where we manufacture textile auxiliary chemicals. 941 00:49:37,400 --> 00:49:39,360 The people into garmenting 942 00:49:39,600 --> 00:49:41,920 have a process that goes through a wash process. 943 00:49:42,040 --> 00:49:43,920 We make products like enzymes, 944 00:49:44,000 --> 00:49:46,360 wetting agents and lubricating agents. 945 00:49:46,520 --> 00:49:51,520 For that, we used an innovative amino silicone softener technology. 946 00:49:51,640 --> 00:49:54,240 When my clothes would fade, I would just send it to them. 947 00:49:54,360 --> 00:49:56,600 They would perform some magic and send it back to me 948 00:49:56,680 --> 00:49:57,880 and it would look very new. 949 00:49:58,120 --> 00:49:59,960 So, from there, the idea sparked. 950 00:50:00,120 --> 00:50:03,680 I worked in my family business for about 14 years. 951 00:50:03,880 --> 00:50:06,480 During that time, in 2018, 952 00:50:06,600 --> 00:50:08,560 I decided to start my own journey. 953 00:50:08,680 --> 00:50:10,360 After extensive research, 954 00:50:10,480 --> 00:50:11,920 I saw that in the West too, 955 00:50:12,000 --> 00:50:14,080 there were a few brands doing something similar. 956 00:50:14,160 --> 00:50:17,000 I was motivated to start this brand Born Good, sir. 957 00:50:17,080 --> 00:50:18,160 When did you start sales? 958 00:50:18,280 --> 00:50:20,480 2020-21 was the first year. 959 00:50:20,600 --> 00:50:21,840 - Four years. - Yes, sir. 960 00:50:21,920 --> 00:50:23,040 What about education, Mohit? 961 00:50:23,160 --> 00:50:24,960 I studied in Bengaluru till high school. 962 00:50:25,040 --> 00:50:27,480 Then from 2001 to 2005, 963 00:50:27,560 --> 00:50:30,520 I did Computer Science Engineering from the US 964 00:50:30,720 --> 00:50:34,640 and in 2010-11, I did my MBA from INSEAD 965 00:50:34,840 --> 00:50:36,720 - which is in France and Singapore. - Singapore. 966 00:50:36,760 --> 00:50:39,360 After I returned, I was in the family business. 967 00:50:39,440 --> 00:50:41,480 - I wanted to build my own legacy. - Okay. 968 00:50:42,280 --> 00:50:43,880 What do you make exactly? 969 00:50:44,000 --> 00:50:45,880 Foam cleaners are mostly divided 970 00:50:45,960 --> 00:50:48,120 into three categories as you can see. 971 00:50:48,200 --> 00:50:50,200 The biggest one is clothing care. 972 00:50:50,280 --> 00:50:52,120 The core function is to remove stains, 973 00:50:52,200 --> 00:50:53,440 give a fresher feel. 974 00:50:53,560 --> 00:50:56,800 Fabric conditioner, which lends fragrance to the clothes. 975 00:50:56,880 --> 00:50:58,800 The second is household cleaners. 976 00:51:17,280 --> 00:51:19,760 The two preservatives we use are 100% natural. 977 00:51:19,880 --> 00:51:21,280 Sodium ben... 978 00:51:21,360 --> 00:51:23,720 Potassium benzoate and sodium perborate. 979 00:51:28,000 --> 00:51:29,240 - or more? - No, sir. 980 00:51:29,320 --> 00:51:30,880 Why doesn't everybody else use it? 981 00:51:31,800 --> 00:51:33,400 Coming to big companies. 982 00:51:33,480 --> 00:51:35,080 To better a product 983 00:51:35,160 --> 00:51:37,680 is not really in their DNA, in my opinion, 984 00:51:37,760 --> 00:51:39,160 for them to go down that route. 985 00:51:39,320 --> 00:51:41,200 They manufacture such high volumes. 986 00:51:41,280 --> 00:51:43,240 If any change is needed, 987 00:51:43,320 --> 00:51:46,680 it might take months if not years to get those approvals. 988 00:51:47,160 --> 00:51:48,160 Got it. 989 00:51:49,440 --> 00:51:50,880 [music playing] 990 00:51:54,080 --> 00:51:55,440 - Floor Cleaner, in the middle. - This one? 991 00:51:55,440 --> 00:51:56,720 - The fragrance is really good. - Okay. 992 00:51:56,720 --> 00:51:58,400 Your packaging is really attractive. 993 00:51:58,480 --> 00:52:02,480 It gives me the feeling I'm about to get a bottle of pista milk. 994 00:52:02,560 --> 00:52:03,800 [Anupam laughs hysterically] 995 00:52:06,160 --> 00:52:08,680 - Mohit, drink it if it's so natural. - 100%. 996 00:52:08,760 --> 00:52:10,000 - Can you drink it? - I'll do a shot. 997 00:52:10,000 --> 00:52:11,160 - Which one? - I'll do a shot. 998 00:52:11,440 --> 00:52:12,680 [light-hearted music playing] 999 00:52:25,880 --> 00:52:28,040 Whereas the communication at the start of the pitch was 1000 00:52:28,040 --> 00:52:30,000 - that it takes the fading away. - Yes, sir. 1001 00:52:30,080 --> 00:52:31,560 These are two different propositions. 1002 00:52:32,560 --> 00:52:33,680 They are connected, sir. 1003 00:52:33,760 --> 00:52:35,880 Because our ingredients are natural 1004 00:52:36,200 --> 00:52:39,920 and because toxic chemicals play the biggest part 1005 00:52:40,040 --> 00:52:41,440 in fading your clothes, 1006 00:52:41,720 --> 00:52:43,800 being 99% natural helps 1007 00:52:43,880 --> 00:52:45,480 - in preventing fading. - Let's say there are three brands. 1008 00:52:45,480 --> 00:52:47,960 - Another brand came on Shark Tank last year. - Hmm. 1009 00:52:53,720 --> 00:52:56,400 Or are you targeting the problem of fading 1010 00:52:56,480 --> 00:52:58,360 where you claim your detergent can prevent that? 1011 00:52:58,360 --> 00:53:01,280 Sir, to be honest, our competition is these big brands 1012 00:53:01,360 --> 00:53:02,960 like Surf, Ariel or Rin. 1013 00:53:03,040 --> 00:53:06,120 If we consider our core differentiation with Koparo, 1014 00:53:06,400 --> 00:53:08,200 the biggest differentiation is 1015 00:53:08,320 --> 00:53:10,160 that our DNA contains innovation. 1016 00:53:10,240 --> 00:53:14,240 My dad still runs a textile auxiliary chemical plant 1017 00:53:14,320 --> 00:53:16,640 where we do manufacturing 1018 00:53:16,760 --> 00:53:18,840 alongside R&D and innovation. 1019 00:53:18,920 --> 00:53:20,960 This is quite a price-sensitive market. 1020 00:53:21,040 --> 00:53:23,160 So, to combat the price sensitivity, 1021 00:53:23,280 --> 00:53:27,520 we have launched very economical and convenient formats very recently 1022 00:53:27,600 --> 00:53:29,920 like these Laundry Detergent Tablets. 1023 00:53:30,000 --> 00:53:31,040 Take Surf for instance. 1024 00:53:31,120 --> 00:53:33,960 On average, their price is between Rs. 230 to 250. 1025 00:53:34,040 --> 00:53:37,040 And Rs. 230 to 250 is for how much? One litre? 1026 00:53:37,120 --> 00:53:38,560 - For one litre, sir. - Okay. 1027 00:53:38,680 --> 00:53:43,080 And for one load, you'll have to use 60 ml of their product. 1028 00:53:43,280 --> 00:53:45,560 So, you get approximately 16 loads 1029 00:53:45,680 --> 00:53:48,840 - and the cost per load is roughly Rs. 13.5. - Got it. 1030 00:53:48,920 --> 00:53:51,040 Born Good's Fragrance Detergent, 1031 00:53:51,120 --> 00:53:52,840 which is our fastest moving product, 1032 00:53:52,960 --> 00:53:55,440 the average selling price is Rs. 269 1033 00:53:55,600 --> 00:53:57,400 but that is 40 ml per load. 1034 00:53:57,480 --> 00:53:59,120 So, you get 25 loads. 1035 00:53:59,280 --> 00:54:02,600 And it works out to about Rs. 10.3 to 10.4. 1036 00:54:02,680 --> 00:54:04,440 So, the customer actually saves money. 1037 00:54:04,560 --> 00:54:05,880 Basically, you're saying, 1038 00:54:06,040 --> 00:54:09,240 the other brands fall in the premium category. 1039 00:54:09,320 --> 00:54:12,280 - You're fighting in the economy segment... - Yes, sir. 1040 00:54:12,360 --> 00:54:14,760 By making natural and better products. 1041 00:54:15,920 --> 00:54:19,360 Let's assume I go to a supermarket as a customer. 1042 00:54:19,840 --> 00:54:23,120 - They have Born Good, The Better Home. - Hmm. 1043 00:54:23,200 --> 00:54:25,920 Two companies in which I'm an investor, Koparo and Beco, 1044 00:54:26,200 --> 00:54:27,240 are there as well. 1045 00:54:27,360 --> 00:54:29,240 Why should a customer pick Born Good? 1046 00:54:29,960 --> 00:54:31,680 The ingredients used in it are great. 1047 00:54:31,760 --> 00:54:35,560 We have certifications, unlike Koparo and Beco. 1048 00:54:35,640 --> 00:54:37,320 Our fragrances are very unique 1049 00:54:37,600 --> 00:54:41,520 and all our products are minimum 96% biodegradable. 1050 00:54:44,400 --> 00:54:46,320 - What did you think of it? - She did a good job. 1051 00:54:46,440 --> 00:54:49,160 Two people, unfortunately, didn't get on board in Koparo, 1052 00:54:49,240 --> 00:54:50,160 three of us did. 1053 00:54:50,240 --> 00:54:52,920 So, if three of us want to invest in Born Good, 1054 00:54:53,120 --> 00:54:54,960 except for the fact you have R&D, 1055 00:54:55,040 --> 00:54:57,520 your parents are in this business and you have an understanding, 1056 00:54:57,520 --> 00:54:58,640 why would we invest? 1057 00:54:59,760 --> 00:55:03,120 We offer a product range which is more economical. 1058 00:55:03,200 --> 00:55:05,200 - First point, you're cheaper. - Yes, sir. 1059 00:55:05,320 --> 00:55:08,160 - Second? - I feel we've grown in a more capital-efficient manner. 1060 00:55:08,240 --> 00:55:11,440 We've raised Rs. 5 crores till now and still have money in the bank. 1061 00:55:11,560 --> 00:55:14,240 We've reached Rs. 70 lakhs net revenue last month. 1062 00:55:20,400 --> 00:55:23,200 their raise was three times bigger than ours 1063 00:55:23,280 --> 00:55:24,560 and so was their burn. 1064 00:55:24,680 --> 00:55:27,480 I genuinely feel we're more natural. 1065 00:55:27,560 --> 00:55:29,840 These are the core differentiators that we have. 1066 00:55:30,520 --> 00:55:32,160 The numbers will tell the rest. 1067 00:55:32,240 --> 00:55:33,480 [Sharks laugh] 1068 00:55:33,600 --> 00:55:35,800 - This is a competitive category. - Yes, sir. 1069 00:55:35,880 --> 00:55:38,200 You started with a differentiation too 1070 00:55:38,280 --> 00:55:39,960 - which I understand exists... - Hmm. 1071 00:55:40,040 --> 00:55:43,000 But it is not like someone else wouldn't be able to do it, right? 1072 00:55:43,080 --> 00:55:45,480 - Eventually, it will be about execution. - Yes. 1073 00:55:45,560 --> 00:55:47,000 Tell us your numbers. 1074 00:55:47,080 --> 00:55:49,880 Our first full year was 2021. 1075 00:56:22,760 --> 00:56:24,880 Today, we're a very digital-first company. 1076 00:56:25,000 --> 00:56:28,840 We're focusing primarily on D2C and marketplaces such as Amazon. 1077 00:56:28,920 --> 00:56:30,920 We've just started our quick commerce journey 1078 00:56:31,000 --> 00:56:33,640 primarily, due to burn in performance marketing. 1079 00:56:33,720 --> 00:56:36,320 What is your marketing percentage as a revenue? 1080 00:56:36,440 --> 00:56:39,320 41% of the net revenue is performance marketing. 1081 00:56:39,400 --> 00:56:43,440 41% performance marketing at a Rs. 10-crore net revenue scale 1082 00:56:43,520 --> 00:56:45,320 means something is not working. 1083 00:56:45,400 --> 00:56:47,520 The consumer doesn't want to buy. Why is that? 1084 00:56:48,200 --> 00:56:52,120 We do marketing on Meta and Google to drive traffic to our website. 1085 00:56:52,200 --> 00:56:53,840 There, it's a little over 50%. 1086 00:56:57,920 --> 00:56:59,480 The growth will be higher there. 1087 00:56:59,560 --> 00:57:01,400 Even if you're doing it on your website, 1088 00:57:01,520 --> 00:57:03,320 a lot of brands that come here 1089 00:57:03,400 --> 00:57:07,080 whose CAC reduces over a period of time through repeats, 1090 00:57:07,160 --> 00:57:10,120 yours doesn't seem to be reducing. It's holding right up there. 1091 00:57:10,200 --> 00:57:12,640 We are still focusing on acquiring new customers. 1092 00:57:12,800 --> 00:57:14,760 - Let's do the unit economics once. - If you take the repeat... 1093 00:57:14,760 --> 00:57:16,760 That ought to make the picture a bit clearer. 1094 00:57:16,840 --> 00:57:18,960 Can we just go through the unit economics? 1095 00:57:19,680 --> 00:57:21,840 So, for April to September of this year, 1096 00:57:21,920 --> 00:57:23,800 if our net is 100, 1097 00:57:24,160 --> 00:57:26,560 our cost of goods is 36%. 1098 00:57:26,640 --> 00:57:29,240 The gross margin is 64%. 1099 00:57:29,680 --> 00:57:32,840 That makes our cost of selling 34% 1100 00:57:32,920 --> 00:57:35,760 which encompasses payment gateway, logistics 1101 00:57:35,840 --> 00:57:37,880 and trade margins of marketplaces. 1102 00:57:37,960 --> 00:57:40,000 - Does it include shipping? - Yes, it does. 1103 00:57:40,080 --> 00:57:41,640 So, the CM1 is 30%. 1104 00:57:41,720 --> 00:57:43,960 41% performance marketing. 1105 00:57:44,080 --> 00:57:46,440 So, we are -11% on CM2. 1106 00:57:48,080 --> 00:57:48,920 Go on. 1107 00:57:49,040 --> 00:57:50,760 The remaining expenses are 28%. 1108 00:57:50,880 --> 00:57:52,080 What does 28% include? 1109 00:57:52,160 --> 00:57:56,400 Sir, it's mainly salaries, platform fees and rental. 1110 00:57:56,480 --> 00:57:58,040 But 28% is still high. 1111 00:57:58,120 --> 00:57:59,480 28% is encompassing, 1112 00:57:59,560 --> 00:58:00,840 - as I said, salaries. - How much are the salaries? 1113 00:58:00,840 --> 00:58:02,280 Rs. 9.5 lakhs. 1114 00:58:02,360 --> 00:58:03,880 - Per month? - Per month. Yes, sir. 1115 00:58:03,960 --> 00:58:06,400 What are the sales from the website and Amazon? 1116 00:58:06,840 --> 00:58:10,360 38% from D2C and 48% from Amazon, 1117 00:58:10,600 --> 00:58:13,640 6% offline and 9% is the other channels. 1118 00:58:13,720 --> 00:58:15,280 We have some B2B sales. 1119 00:58:15,440 --> 00:58:18,600 Long tail marketplaces like Big Basket, FirstCry and Flipkart. 1120 00:58:18,840 --> 00:58:20,720 That encompasses the 9%. 1121 00:58:21,680 --> 00:58:23,200 How much money do you have in the bank? 1122 00:58:23,240 --> 00:58:24,440 Sir, about Rs. 1.5 crores. 1123 00:58:24,520 --> 00:58:25,600 - That's left? - Yes. 1124 00:58:25,680 --> 00:58:26,800 And working capital? 1125 00:58:27,080 --> 00:58:28,920 The working capital is about Rs. 33 lakhs. 1126 00:58:29,280 --> 00:58:31,480 In every product, 1127 00:58:31,560 --> 00:58:33,800 you're losing Rs. 11 for every Rs. 100. 1128 00:58:33,880 --> 00:58:36,480 So, the more you sell, the greater your loss. 1129 00:58:42,040 --> 00:58:44,480 If I talk about retention, 1130 00:58:44,560 --> 00:58:47,480 suppose our revenue for M0, month zero, 1131 00:58:47,560 --> 00:58:49,520 is Rs. 100 from new customers. 1132 00:58:49,680 --> 00:58:54,200 Till M6, we get Rs. 55 already from those same customers. 1133 00:58:54,320 --> 00:58:56,120 And till M12, it becomes about Rs. 82. 1134 00:58:56,200 --> 00:58:59,280 But the same 55 customers that were repeats, 1135 00:58:59,360 --> 00:59:01,080 55% till M6, 1136 00:59:01,640 --> 00:59:04,240 their CAC must have also been very high. 1137 00:59:04,360 --> 00:59:05,200 Not very high, ma'am. 1138 00:59:05,280 --> 00:59:09,160 - 55% revenue coming back in six months is very good. - Hmm. 1139 00:59:09,280 --> 00:59:13,200 But that doesn't tally with your performance marketing of 41% 1140 00:59:13,320 --> 00:59:15,000 because it can't be that high. 1141 00:59:15,080 --> 00:59:16,360 Actually, the reason is 1142 00:59:16,440 --> 00:59:18,000 our first-time acquisition 1143 00:59:18,080 --> 00:59:20,120 is the one that has been going up more. 1144 00:59:20,480 --> 00:59:23,040 Our repeat acquisition has always been very steady. 1145 00:59:23,120 --> 00:59:24,200 Less than Rs. 50. 1146 00:59:24,320 --> 00:59:26,960 We market over email, WhatsApp or texts... 1147 00:59:27,040 --> 00:59:28,760 Don't you do retargeting via Meta? 1148 00:59:28,880 --> 00:59:30,080 We most certainly do. 1149 00:59:30,160 --> 00:59:31,840 That's the major expenditure... 1150 00:59:31,920 --> 00:59:34,240 What's your new customer CAC versus repeat CAC? 1151 00:59:34,320 --> 00:59:36,960 Our new customer CAC is about Rs. 670 1152 00:59:37,040 --> 00:59:38,280 and repeat is less than Rs. 50. 1153 00:59:38,360 --> 00:59:40,120 Rs. 670 for what AOV? 1154 00:59:40,240 --> 00:59:41,600 About Rs. 640. 1155 00:59:42,680 --> 00:59:43,680 Oh! 1156 00:59:44,160 --> 00:59:45,720 Is this your main product? 1157 00:59:45,840 --> 00:59:46,720 - Laundry? - Liquid detergents. 1158 00:59:46,800 --> 00:59:48,560 This is the major share of the revenue. 1159 00:59:48,680 --> 00:59:49,680 What percentage? 1160 00:59:49,760 --> 00:59:51,000 Detergents is 33%. 1161 00:59:51,080 --> 00:59:53,200 Let's take a few top brands, 1162 00:59:53,280 --> 00:59:55,520 new-age as well as legacy. 1163 00:59:55,680 --> 00:59:59,480 How much do they cost the customer per load? 1164 00:59:59,920 --> 01:00:01,080 Could you tell us that? 1165 01:00:01,320 --> 01:00:03,960 Ours is Rs. 10. Surf's is about Rs. 13. 1166 01:00:04,240 --> 01:00:06,560 If you take new-age brands, 1167 01:00:06,640 --> 01:00:08,760 it is about 5-6% premium only. 1168 01:00:08,840 --> 01:00:10,240 Let's name specific brands. 1169 01:00:27,480 --> 01:00:29,520 than... Let's forget Surf. Than new-age brands? 1170 01:00:29,600 --> 01:00:30,920 - Yours is Rs. 10. - Hmm. 1171 01:00:31,000 --> 01:00:32,800 You said Koparo's is Rs. 13 or 14. 1172 01:00:32,880 --> 01:00:36,240 Koparo's detergent sales and overall sales are way higher 1173 01:00:36,320 --> 01:00:37,520 compared to Born Good, 1174 01:00:37,680 --> 01:00:39,800 - but we are... - Even if your price is low, 1175 01:00:39,880 --> 01:00:40,880 their sales are higher! 1176 01:00:40,960 --> 01:00:42,880 At their price, they are a little bit higher 1177 01:00:43,040 --> 01:00:44,040 but it's also a factor 1178 01:00:44,120 --> 01:00:45,880 of marketing spends at the end of the day. 1179 01:00:45,960 --> 01:00:48,240 You didn't quote the numbers of one brand 1180 01:00:48,360 --> 01:00:49,480 which I'm very surprised. 1181 01:00:50,400 --> 01:00:52,440 I asked you about Beco. 1182 01:00:52,520 --> 01:00:54,440 Their monthly sales are Rs. 10 crores. 1183 01:00:54,680 --> 01:00:56,480 I'm very surprised you don't know the numbers. 1184 01:01:00,680 --> 01:01:02,400 You don't know or you don't want to tell? 1185 01:01:02,480 --> 01:01:03,960 I know that number is lower. 1186 01:01:04,680 --> 01:01:07,560 I've heard it's this but I don't have the exact number. 1187 01:01:07,800 --> 01:01:09,800 But to my knowledge, they are maybe 1188 01:01:10,120 --> 01:01:12,000 lower than a regional brand as well. 1189 01:01:12,080 --> 01:01:13,200 Is that the issue? 1190 01:01:13,760 --> 01:01:15,400 That you're somewhere in the middle? 1191 01:01:15,600 --> 01:01:18,360 Neither are you an aspirational brand like Koparo 1192 01:01:18,440 --> 01:01:20,200 nor a budget-friendly one. 1193 01:01:20,360 --> 01:01:21,520 Just somewhere in the middle. 1194 01:01:21,520 --> 01:01:22,800 We're neither that nor this. 1195 01:01:22,880 --> 01:01:25,680 Frankly, sir, this is the first time I'm hearing this perspective 1196 01:01:25,760 --> 01:01:28,040 and I think it is insightful. 1197 01:01:28,120 --> 01:01:31,600 So, I'll also have to think, are we stuck on this? 1198 01:01:32,640 --> 01:01:33,480 Look, Mohit. 1199 01:01:33,560 --> 01:01:36,840 Your branding, positioning and packaging are all good. 1200 01:01:36,960 --> 01:01:40,280 Then what's causing the product-market fit issue? 1201 01:01:40,440 --> 01:01:41,720 I'm not clear about that. 1202 01:01:41,800 --> 01:01:45,320 However, I clearly see one challenge 1203 01:01:45,400 --> 01:01:46,880 and that is your go-to market. 1204 01:01:46,960 --> 01:01:48,880 And your go-to-market is absolutely wrong. 1205 01:01:48,960 --> 01:01:50,680 For a customer 1206 01:01:50,760 --> 01:01:53,600 on whose CAC you spend Rs. 650 1207 01:01:53,720 --> 01:01:56,600 for an order worth Rs. 650, 1208 01:01:56,680 --> 01:02:00,960 it effectively means you're giving the customer your product for free. 1209 01:02:01,320 --> 01:02:04,400 To the one lakh people who you've sold orders to, 1210 01:02:04,480 --> 01:02:07,320 had you distributed your products for free 1211 01:02:07,400 --> 01:02:10,720 and if your 55% retention would have held, 1212 01:02:10,800 --> 01:02:14,520 then your hit or the losses you incurred 1213 01:02:14,600 --> 01:02:16,360 would've been far lesser 1214 01:02:16,440 --> 01:02:18,160 because only your COGS would've been hit. 1215 01:02:18,680 --> 01:02:22,480 Your cost of making the first sale 1216 01:02:23,280 --> 01:02:25,040 is absolutely unsustainable. 1217 01:02:25,120 --> 01:02:26,480 You'll really need to rethink. 1218 01:02:26,600 --> 01:02:29,000 Either you'll have to base your entire business on quick commerce 1219 01:02:29,000 --> 01:02:30,840 or do it offline, 1220 01:02:30,920 --> 01:02:35,640 but with this first order value, it does not work at all. 1221 01:02:35,720 --> 01:02:38,200 So, I am out for now. 1222 01:02:38,320 --> 01:02:39,200 - Thank you. - Best of luck. 1223 01:02:39,280 --> 01:02:40,280 Thank you, ma'am. 1224 01:02:45,520 --> 01:02:47,320 You have an MBA from INSEAD. 1225 01:02:47,600 --> 01:02:48,920 What's really going on? 1226 01:02:49,360 --> 01:02:52,080 It's very hard to make money at the pace you're going. 1227 01:02:52,200 --> 01:02:53,640 - Sir... - What is your plan? 1228 01:02:53,720 --> 01:02:55,800 You'll exhaust that Rs. 1.5 crores very soon. 1229 01:02:56,440 --> 01:02:58,320 - If you go back a few months... - Yes. 1230 01:02:58,400 --> 01:03:01,760 Our website's contribution was higher than 38%. 1231 01:03:01,880 --> 01:03:04,320 What Vineeta said, we're understanding this. 1232 01:03:04,400 --> 01:03:06,960 Just getting eyeballs on Meta and Google 1233 01:03:07,040 --> 01:03:08,440 is proving to be very expensive. 1234 01:03:08,560 --> 01:03:10,240 Amazon's contribution was lower, 1235 01:03:10,320 --> 01:03:11,720 but we're seeing less friction there. 1236 01:03:11,720 --> 01:03:13,840 So, we're focusing more on Amazon now. 1237 01:03:13,920 --> 01:03:15,560 We feel this is a quick commerce brand 1238 01:03:15,640 --> 01:03:17,480 at least for the next 12-24 months 1239 01:03:17,600 --> 01:03:19,200 and in the long term, offline. 1240 01:03:19,280 --> 01:03:21,600 So, the unit economics will get better. 1241 01:03:21,680 --> 01:03:23,120 No, I understand that. 1242 01:03:23,440 --> 01:03:25,280 If I just look at the last two years, 1243 01:03:25,560 --> 01:03:28,960 it's not like your numbers increased 4 to 5x. 1244 01:03:29,120 --> 01:03:31,240 That you know, I can accept 1245 01:03:31,520 --> 01:03:34,720 that your cohort of first orders is so huge 1246 01:03:34,840 --> 01:03:36,600 that it will make up through renewals 1247 01:03:36,680 --> 01:03:37,920 because your CAC is much lower. 1248 01:03:37,920 --> 01:03:40,400 In the first three years, you grew by 20-30%. 1249 01:03:40,520 --> 01:03:43,040 And after that, perhaps, you're doing double per year, right? 1250 01:03:43,120 --> 01:03:44,520 We've doubled in the last 2-3 years, 1251 01:03:44,520 --> 01:03:45,560 but to address your point, 1252 01:03:45,600 --> 01:03:47,840 we haven't raised that much capital either 1253 01:03:47,920 --> 01:03:50,000 at least compared to some of our competitors. 1254 01:03:50,080 --> 01:03:51,160 If we talk about Koparo... 1255 01:03:51,280 --> 01:03:53,600 - No, but you could have done that! - Yes. 1256 01:03:53,760 --> 01:03:54,920 That's not a bad thing. 1257 01:03:55,000 --> 01:03:56,800 - That's not a problem. - It is not like, 1258 01:03:56,920 --> 01:03:59,160 "I didn't do it, so I'm allowed to make mistakes." 1259 01:03:59,480 --> 01:04:00,560 - I see your point, sir. - You... 1260 01:04:00,560 --> 01:04:02,200 Do you want success 1261 01:04:02,280 --> 01:04:04,320 or do you want to be a small business 1262 01:04:04,400 --> 01:04:06,680 with the highest ROCE, return on capital employed? 1263 01:04:06,800 --> 01:04:08,080 I get what you're saying, sir. 1264 01:04:08,760 --> 01:04:10,520 Why didn't you raise more investment yet? 1265 01:04:10,840 --> 01:04:13,440 We are in the process now. We're just getting started. 1266 01:04:13,560 --> 01:04:18,360 Why do you think you can raise at this stage? 1267 01:04:18,440 --> 01:04:20,280 What is the size of the round you're looking for? 1268 01:04:20,280 --> 01:04:22,600 We have to raise around Rs 12 crores to Rs 14 crores. 1269 01:04:22,680 --> 01:04:23,880 - I see. - That's the amount 1270 01:04:23,960 --> 01:04:25,920 - we need to raise. - What's the valuation? 1271 01:04:26,000 --> 01:04:30,160 Sir, I've asked Rs 70 lakhs for 1 per cent. 1272 01:04:30,280 --> 01:04:31,960 So, our expected valuation is Rs 70 crores. 1273 01:04:32,000 --> 01:04:33,520 Why is that justified? 1274 01:04:34,880 --> 01:04:38,320 In the next few months, we will reach Rs 1 crore net. 1275 01:04:38,400 --> 01:04:42,640 If you take a multiple of 6x, it's around that number, sir. 1276 01:04:42,760 --> 01:04:44,800 - 6x? - Yes, sir. 6x revenue. 1277 01:04:44,920 --> 01:04:47,000 Tell me, what is the revenue of the new-age brands? 1278 01:04:47,080 --> 01:04:48,960 Where are you standing in the order? 1279 01:04:49,080 --> 01:04:50,640 Beco is probably the highest 1280 01:04:50,720 --> 01:04:53,200 with about Rs 8 crores or Rs 10 crores net. 1281 01:04:53,280 --> 01:04:55,240 Koparo reaches around Rs 2 crores to Rs 2.5 crores, 1282 01:04:55,240 --> 01:04:56,680 but you know better. 1283 01:04:56,760 --> 01:04:57,840 We are the next ones. 1284 01:04:57,920 --> 01:04:59,400 No. He has missed a company. 1285 01:04:59,520 --> 01:05:01,680 The Honest Home Company is earning Rs 5 crores monthly. 1286 01:05:07,440 --> 01:05:08,320 Liquid detergent. 1287 01:05:08,400 --> 01:05:10,600 What is the first result for liquid detergents? 1288 01:05:10,680 --> 01:05:11,960 We'll be in the top four, sir. 1289 01:05:12,080 --> 01:05:13,920 Do you have your website? Can we check the marketing? 1290 01:05:13,920 --> 01:05:15,400 We can open the website, sir. 1291 01:05:16,640 --> 01:05:18,160 This is our homepage. 1292 01:05:18,240 --> 01:05:21,320 It is a winning construct for us. 1293 01:05:21,600 --> 01:05:23,080 We prefer that first-time customers 1294 01:05:23,160 --> 01:05:24,840 purchase two or more products 1295 01:05:24,920 --> 01:05:26,840 to experience more. 1296 01:05:26,920 --> 01:05:30,920 This is one of our fast-moving newer products. 1297 01:05:32,840 --> 01:05:36,160 In the first three to four pages, you've only shown 1298 01:05:36,280 --> 01:05:38,480 20 per cent off, 30 per cent off, two for three 1299 01:05:38,560 --> 01:05:40,320 - or buy three for Rs 699. - Yes, sir. 1300 01:05:40,520 --> 01:05:42,120 So, all I see is, 1301 01:05:42,240 --> 01:05:43,960 'Come to me if you want to purchase things for cheap.' 1302 01:05:43,960 --> 01:05:46,280 - This is what works in India, sir. - That is true. 1303 01:05:46,600 --> 01:05:49,600 The first startup I was involved in 1304 01:05:49,720 --> 01:05:52,000 was a detergent startup when I was in college. 1305 01:05:52,240 --> 01:05:55,080 Since then, I have had an immense love for laundry detergents. 1306 01:05:55,160 --> 01:05:58,400 Whenever I go to supermarkets around the world, 1307 01:05:58,600 --> 01:06:00,360 I check the laundry aisle. 1308 01:06:00,680 --> 01:06:02,640 I was interested when you came. 1309 01:06:03,240 --> 01:06:07,320 But this business is stuck in a weird place right now. 1310 01:06:07,400 --> 01:06:09,920 If you want to succeed online, 1311 01:06:10,000 --> 01:06:11,880 you must raise prices 1312 01:06:12,000 --> 01:06:13,880 to create a larger margin 1313 01:06:13,960 --> 01:06:16,960 that covers the rising advertising costs. 1314 01:06:17,040 --> 01:06:18,760 Only then will you be CM positive. 1315 01:06:18,840 --> 01:06:22,320 Otherwise, the money you raise will be over eventually. 1316 01:06:23,080 --> 01:06:25,880 Our second choice is to become an offline-first brand. 1317 01:06:25,960 --> 01:06:27,720 We have to drop the price for that. 1318 01:06:27,840 --> 01:06:30,520 But this price itself doesn't give us a margin. 1319 01:06:30,600 --> 01:06:32,840 So, the margin will decrease upon lowering the rates. 1320 01:06:33,000 --> 01:06:34,960 The contribution margin will go further negative. 1321 01:06:35,040 --> 01:06:38,680 So, this brand is stuck in a no man's land. 1322 01:06:39,520 --> 01:06:42,200 You need to think deeply about it. 1323 01:06:42,280 --> 01:06:44,360 How can we fix the unit economics? 1324 01:06:44,440 --> 01:06:46,200 Or how can you strengthen your value proposition 1325 01:06:46,200 --> 01:06:47,960 for the customer 1326 01:06:48,080 --> 01:06:52,480 so that he will let you make money and a margin at this price? 1327 01:06:53,080 --> 01:06:56,080 I am out today for these reasons, but I wish you all the best. 1328 01:06:58,400 --> 01:07:01,440 Mohit, we spoke about brands. 1329 01:07:01,520 --> 01:07:04,560 You dismissed a few and didn't know about others. 1330 01:07:04,640 --> 01:07:08,800 These are all very hungry founders who are ready to do anything 1331 01:07:08,880 --> 01:07:11,200 to set their cap correctly 1332 01:07:11,320 --> 01:07:13,560 and run a business of Rs 20 lakhs to Rs 40 lakhs. 1333 01:07:13,680 --> 01:07:14,920 So, who knows who will emerge? 1334 01:07:15,000 --> 01:07:17,520 After that, I still didn't understand 1335 01:07:17,600 --> 01:07:20,360 why it took you four to five years to realise that 1336 01:07:20,440 --> 01:07:22,280 D2C should be your brand store. 1337 01:07:23,040 --> 01:07:25,760 These other established channels 1338 01:07:25,840 --> 01:07:28,160 will help you set a margin if you find a PMF. 1339 01:07:29,120 --> 01:07:31,520 Then, I come to valuation. Rs 70 crores! 1340 01:07:31,640 --> 01:07:35,400 You think this round will work without issues because 1341 01:07:35,480 --> 01:07:38,200 your business has expanded. But how has it expanded? 1342 01:07:38,520 --> 01:07:40,200 By giving away free products! 1343 01:07:40,840 --> 01:07:43,960 You said you wanted to create a legacy. 1344 01:07:44,080 --> 01:07:47,440 Are you so emotionally attached that you can't see the truth? 1345 01:07:47,560 --> 01:07:49,680 You're using words like capital-efficient, 1346 01:07:49,760 --> 01:07:51,640 cheapest or plant-based, 1347 01:07:51,720 --> 01:07:53,920 but that is not the consumer's perspective. 1348 01:07:54,000 --> 01:07:55,920 So, shift that a little. 1349 01:07:56,000 --> 01:07:59,000 - Look at it from the user's view. - Sure. 1350 01:07:59,080 --> 01:08:01,120 - Don't look at it as Mohit Belani. - Sure, sir. 1351 01:08:01,240 --> 01:08:03,920 For those reasons, I'm out. Good luck. 1352 01:08:05,680 --> 01:08:07,680 Do you know the problem in your business right now? 1353 01:08:07,760 --> 01:08:09,320 I partly agree with sir. 1354 01:08:09,400 --> 01:08:11,800 Product-market fit, helping with pricing, 1355 01:08:11,920 --> 01:08:13,560 building the right team, 1356 01:08:13,640 --> 01:08:16,600 and I'm a little emotional. So, there are a few problems. 1357 01:08:16,680 --> 01:08:19,440 - You are willing to correct them. - Definitely, sir. 1358 01:08:19,600 --> 01:08:21,360 I'll tell you where I am stuck. 1359 01:08:21,440 --> 01:08:23,720 At some level, people deserve a chance. 1360 01:08:23,840 --> 01:08:26,000 You've come up with a good product. 1361 01:08:26,120 --> 01:08:28,240 Many things are good. Not everything is bad. 1362 01:08:28,360 --> 01:08:30,800 The issues do not concern the product-market fit. 1363 01:08:30,920 --> 01:08:33,800 - The issue is with marketing the product. - Okay. 1364 01:08:33,880 --> 01:08:37,360 - Right? You've not communicated what's essential. - Right. 1365 01:08:37,440 --> 01:08:39,000 What disappoints me 1366 01:08:39,120 --> 01:08:42,760 is that you're not going deep into the numbers. 1367 01:08:43,000 --> 01:08:45,520 You don't have a hold on the numbers. 1368 01:08:45,600 --> 01:08:47,200 I have a hold on it. You may ask me, sir. 1369 01:08:47,600 --> 01:08:49,920 Okay. Please tell me your detergent business revenue 1370 01:08:50,000 --> 01:08:52,400 for last year and this year 1371 01:08:52,480 --> 01:08:55,640 and your marketplace revenue for last year and this year. 1372 01:08:55,920 --> 01:08:57,160 - Quickly. - Okay. 1373 01:08:58,000 --> 01:09:00,320 I don't have the specific numbers. 1374 01:09:00,400 --> 01:09:03,960 It's a 33 per cent market share of Rs 70 lakhs. 1375 01:09:04,120 --> 01:09:07,280 So, about Rs 21 lakhs was last month's detergent business. 1376 01:09:07,360 --> 01:09:11,080 It would have been less than Rs 7 lakhs a year before, sir. 1377 01:09:11,240 --> 01:09:15,880 - You need to get that depth a bit more. - Sure. 1378 01:09:15,960 --> 01:09:17,320 I am out. 1379 01:09:19,200 --> 01:09:23,760 - But get on this. You can do something terrific. - Thank you. 1380 01:09:24,160 --> 01:09:25,360 Mr Born Good! 1381 01:09:25,440 --> 01:09:27,600 When Simran came here with Koparo, 1382 01:09:27,680 --> 01:09:30,040 she got five offers. Instead, she got three offers. 1383 01:09:30,160 --> 01:09:32,200 She didn't even hear Peyush out and closed the deal. 1384 01:09:35,520 --> 01:09:36,760 Let me tell you about yourself. 1385 01:09:36,920 --> 01:09:39,160 You are Born Good. Agreed! Brand? Very good! 1386 01:09:39,280 --> 01:09:42,480 I like the brand, positioning, colours and the category. 1387 01:09:42,560 --> 01:09:44,000 Your price point is also good. 1388 01:09:44,080 --> 01:09:45,320 Do you know the difference there? 1389 01:09:45,320 --> 01:09:48,680 When I asked about Simran, Koparo or you, 1390 01:09:48,840 --> 01:09:50,600 the founder there is better than you. 1391 01:09:52,280 --> 01:09:55,360 She came. She impressed. She got offers. 1392 01:09:55,520 --> 01:09:56,880 Even now, 1393 01:09:57,040 --> 01:09:58,640 the investors are betting on her. 1394 01:09:58,720 --> 01:10:00,560 She has term sheets today, as well. 1395 01:10:01,400 --> 01:10:04,280 It doesn't matter if you're capital-efficient. 1396 01:10:04,360 --> 01:10:07,200 But her execution is way better than you. 1397 01:10:08,040 --> 01:10:10,680 Learn from her. What does a founder need? 1398 01:10:10,760 --> 01:10:12,600 Hunger! We don't see it, man. 1399 01:10:24,880 --> 01:10:27,520 - Don't be discouraged, man. - All the best. - Keep at it. 1400 01:10:31,600 --> 01:10:32,720 I didn't compare. 1401 01:10:32,800 --> 01:10:34,440 The comparison was a bit extra, in my opinion. 1402 01:10:34,440 --> 01:10:37,680 The founder should've had a chance to explain his business first. 1403 01:10:37,760 --> 01:10:40,840 But people became emotional as they have invested in the category. 1404 01:10:40,920 --> 01:10:44,560 He, too, got nervous because only Koparo was being discussed. 1405 01:10:44,720 --> 01:10:47,520 But such it is. What can we do? 1406 01:10:47,680 --> 01:10:50,840 If this man comes again, I will again ask him about Koparo. 1407 01:10:51,080 --> 01:10:52,160 I'll ask him several times. 1408 01:10:52,200 --> 01:10:55,400 Something is wrong with a man who doesn't want to talk 1409 01:10:55,480 --> 01:10:59,680 about someone who has come here, and India has watched her. 1410 01:10:59,760 --> 01:11:04,120 There can be four chip brands. I don't care if I like the category. 1411 01:11:04,200 --> 01:11:06,520 I would've invested if he was good. I don't have a problem. 1412 01:11:06,520 --> 01:11:09,000 I felt something was wrong with him. 1413 01:11:09,120 --> 01:11:11,000 I will compare it with Koparo again. 1414 01:11:11,120 --> 01:11:12,800 I feel the founder was not a market fit. 1415 01:11:12,880 --> 01:11:16,120 The founder didn't have the impact one should have in this category. 1416 01:11:16,240 --> 01:11:18,720 Asking for comparison is fair. 1417 01:11:18,800 --> 01:11:21,840 Three out of the five judges were investors there. 1418 01:11:22,000 --> 01:11:25,920 So, they know a lot about this category. 1419 01:11:26,000 --> 01:11:28,800 Genuinely, the sharks are here to help every brand. 1420 01:11:28,880 --> 01:11:33,320 Irrespective of whether or not they've invested in the competitor, 1421 01:11:33,520 --> 01:11:36,400 they want to do good for the person pitching. 1422 01:11:36,520 --> 01:11:39,520 I take their words at face value. 1423 01:11:39,600 --> 01:11:42,600 There are a few things we can implement. 1424 01:11:42,680 --> 01:11:44,200 - Hello, Mohit. - Hi, Aashish. 1425 01:11:44,280 --> 01:11:45,920 - How was your experience? - Too good! 1426 01:11:46,000 --> 01:11:47,960 Was it good? Did you get good feedback? 1427 01:11:48,040 --> 01:11:49,280 I received valuable feedback. 1428 01:11:53,920 --> 01:11:55,280 I had heard things, 1429 01:11:55,360 --> 01:11:56,720 but everyone was kind. 1430 01:11:56,840 --> 01:11:58,800 They gave me logical feedback. 1431 01:11:58,880 --> 01:12:02,040 Very nice. I appreciate you taking this positively. 1432 01:12:02,120 --> 01:12:03,480 I saw your pitch. 1433 01:12:03,600 --> 01:12:05,880 I loved your products. 1434 01:12:05,960 --> 01:12:08,080 - Thank you. - I will use them in my bathroom. 1435 01:12:08,160 --> 01:12:10,360 I want to set a vibe in my bathroom. 1436 01:12:10,440 --> 01:12:13,920 So, I opened Swiggy Instamart and ordered essential oils, 1437 01:12:14,000 --> 01:12:15,960 essential oil diffuser and some towels. 1438 01:12:16,040 --> 01:12:18,240 Look. It's here in ten minutes. 1439 01:12:18,800 --> 01:12:20,000 Thank you so much. 1440 01:12:21,040 --> 01:12:25,280 I just remembered that I should have ordered speakers to set the vibe. 1441 01:12:25,680 --> 01:12:27,440 That sets the vibe well. 1442 01:12:27,520 --> 01:12:28,800 It enhances the vibe, for sure. 1443 01:12:28,880 --> 01:12:31,680 I think you should also order a plant with it. 1444 01:12:31,760 --> 01:12:34,760 That's the spirit! That's called giving and taking feedback. 1445 01:12:34,880 --> 01:12:37,200 Okay. I'll order a houseplant and some speakers. 1446 01:12:37,280 --> 01:12:39,520 - It'll come in ten minutes on Swiggy Instamart. - Super. 1447 01:12:39,880 --> 01:12:41,200 What are you waiting for? 1448 01:12:41,280 --> 01:12:44,800 Open Swiggy Instamart and order whatever you want. Order now. 1449 01:12:57,240 --> 01:13:00,080 'You will get movies, web series' 1450 01:13:00,160 --> 01:13:02,120 'and many other things in our national languages.' 1451 01:13:02,200 --> 01:13:03,880 'We've created more than 300 hours' 1452 01:13:03,960 --> 01:13:07,280 - 'of original library in Haryanvi and Rajasthani. - Wow!' 1453 01:13:07,360 --> 01:13:11,080 'We ask for Rs 3 crores for 1 per cent equity.' 1454 01:13:11,720 --> 01:13:13,440 'Jeez!' 1455 01:13:13,840 --> 01:13:16,960 'Where did the number of Rs 300 crores come from?' 1456 01:13:17,080 --> 01:13:19,520 'We have prior funding. We've taken money in three different rounds.' 1457 01:13:19,520 --> 01:13:21,520 'What will you do by taking money from us?' 1458 01:13:21,640 --> 01:13:23,520 'It won't make a difference.' 1459 01:13:23,640 --> 01:13:25,520 The founders with us today 1460 01:13:25,640 --> 01:13:28,600 not only created their startup on this belief system 1461 01:13:28,800 --> 01:13:31,480 but also gave entertainment a new signature 1462 01:13:31,560 --> 01:13:34,640 and a platform for the Indian languages. 1463 01:13:34,720 --> 01:13:36,600 'India needs people like you.' 1464 01:13:36,680 --> 01:13:39,560 'Namita, Aman and I would like to come' 1465 01:13:39,640 --> 01:13:42,160 'for Rs 1.5 crores for 0.6 per cent equity.' 1466 01:13:42,280 --> 01:13:45,000 'The remaining Rs 1.5 crores will be debt at 18 per cent.' 1467 01:13:45,200 --> 01:13:46,720 'That's our offer for you.' 1468 01:13:46,800 --> 01:13:47,840 - 'Deal done. - Deal done.' 1469 01:13:47,840 --> 01:13:49,720 - Congratulations! - Yes! 1470 01:13:52,520 --> 01:13:54,600 Hello, and welcome to Adani presents Beyond the Tank. 1471 01:13:54,680 --> 01:13:58,280 Adani celebrates every Indian's go-getter spirit. 1472 01:13:58,560 --> 01:14:01,160 In this special segment, we talk to the founders 1473 01:14:01,240 --> 01:14:03,240 who turned their dreams into reality 1474 01:14:03,360 --> 01:14:05,400 through their success and hustle. 1475 01:14:05,600 --> 01:14:08,760 So, let's see their go-getter journey. 1476 01:14:08,880 --> 01:14:12,080 We have the founders of STAGE, Vinay and Shashank, with us. 1477 01:14:12,200 --> 01:14:13,800 Thank you for having us, Aashish. 1478 01:14:13,880 --> 01:14:16,960 You finalised a deal on Shark Tank with a valuation of Rs 250 crores 1479 01:14:17,040 --> 01:14:20,040 and found three marvellous investors. 1480 01:14:20,200 --> 01:14:21,960 How did you celebrate that day? Could you sleep? 1481 01:14:21,960 --> 01:14:25,120 We couldn't sleep that night out of the excitement. 1482 01:14:25,200 --> 01:14:26,480 It was a day of closure. 1483 01:14:26,600 --> 01:14:28,640 What happened was beyond our imagination. 1484 01:14:28,720 --> 01:14:30,640 At that moment, we didn't realise what had happened. 1485 01:14:30,640 --> 01:14:34,800 We spoke on this nation's most prominent platform. 1486 01:14:35,080 --> 01:14:38,640 After that, we walked on the streets of Mumbai all night. 1487 01:14:38,720 --> 01:14:41,120 - The ocean seemed different that night. - Exactly! 1488 01:14:41,200 --> 01:14:42,680 Bombay seemed different. 1489 01:14:42,760 --> 01:14:44,080 - We went to the Taj. - We went to the Taj. 1490 01:14:44,080 --> 01:14:47,400 We drank tea there and relaxed for more than a couple of hours. 1491 01:14:47,480 --> 01:14:48,720 That was a night of reflection. 1492 01:14:48,800 --> 01:14:50,480 How did your parents receive it? 1493 01:14:50,600 --> 01:14:51,800 I'll tell you what my father did. 1494 01:14:51,800 --> 01:14:54,240 He organised the screening of Shark Tank on the main square 1495 01:14:54,320 --> 01:14:55,640 - on the day it aired. - What are you saying? 1496 01:14:55,640 --> 01:14:57,720 He put up a vast screen 1497 01:14:57,800 --> 01:14:59,760 and invited people. People watched it there. 1498 01:14:59,880 --> 01:15:01,600 This is what Shark Tank is all about. 1499 01:15:01,680 --> 01:15:04,520 Let's call the ones who gave you the deal. 1500 01:15:04,600 --> 01:15:06,120 - Yes. Let's have them. - Yes, please. We'd love to. 1501 01:15:06,120 --> 01:15:07,640 Oh! 1502 01:15:07,720 --> 01:15:09,640 Shashank, how are you? Vinay! 1503 01:15:09,720 --> 01:15:12,040 - Hi, Shashank. Good to see you. - It's good to see you. 1504 01:15:12,160 --> 01:15:13,520 What's going on? 1505 01:15:13,640 --> 01:15:15,280 Movies are going on. 1506 01:15:15,520 --> 01:15:16,720 How many movies do you have now? 1507 01:15:16,720 --> 01:15:19,400 - Our platform's content lasts 700 to 800 hours. - Wow! Fantastic! 1508 01:15:19,520 --> 01:15:20,880 You have a high renewal rate, too. 1509 01:15:20,880 --> 01:15:22,480 70 per cent quarter on quarter. 1510 01:15:22,560 --> 01:15:26,200 That proves people are enjoying your content. 1511 01:15:26,320 --> 01:15:28,360 It means we invested in the right place. 1512 01:15:29,120 --> 01:15:30,600 I was waiting for it. 1513 01:15:30,720 --> 01:15:32,800 You've reached Rs 600 crores. Awesome! 1514 01:15:32,880 --> 01:15:34,320 It must be a great feeling. 1515 01:15:34,400 --> 01:15:35,720 Shark Tank gave us closure. 1516 01:15:35,840 --> 01:15:38,600 An Indian OTT player can grow big. 1517 01:15:38,680 --> 01:15:40,240 We didn't expect it, but we bet on it. 1518 01:15:40,320 --> 01:15:42,480 However, the numbers prove 1519 01:15:42,560 --> 01:15:45,160 that regional content can have an OTT player. 1520 01:15:45,280 --> 01:15:46,600 Thank you. Thank you for helping. 1521 01:15:46,640 --> 01:15:50,080 - Proud of you. - Nice meeting you guys, and do well. 1522 01:15:52,920 --> 01:15:55,120 Earlier, you guys were known as the WittyFeed guys. 1523 01:15:55,200 --> 01:15:57,960 After coming here, that changed to being the STAGE guys. 1524 01:15:58,080 --> 01:15:59,160 It definitely changed. 1525 01:15:59,280 --> 01:16:02,240 In the last two years, whenever we have interviewed a candidate, 1526 01:16:02,320 --> 01:16:04,800 one obvious question is where they heard about STAGE. 1527 01:16:04,880 --> 01:16:06,040 One hundred per cent of the time, 1528 01:16:06,040 --> 01:16:07,800 the answer has been they saw a pitch on Shark Tank. 1529 01:16:07,800 --> 01:16:08,920 It's a very proud thing. 1530 01:16:09,000 --> 01:16:11,600 I think it took a lot for us to be called STAGE founders, 1531 01:16:11,720 --> 01:16:12,960 and not WittyFeed founders. 1532 01:16:13,040 --> 01:16:14,880 At one time, so many OTTs came in, 1533 01:16:14,960 --> 01:16:18,040 there was a boom, and they kept growing. 1534 01:16:18,120 --> 01:16:21,600 In such a cutthroat market, how are you able to sustain yourselves? 1535 01:16:21,680 --> 01:16:24,400 There are two things, content and tech. 1536 01:16:24,480 --> 01:16:26,920 These are the core pillars that have helped us sustain 1537 01:16:27,000 --> 01:16:28,280 and now become profitable. 1538 01:16:28,360 --> 01:16:30,040 We create content at a very low cost. 1539 01:16:30,120 --> 01:16:32,560 It's hyperlocal and vernacular which is the most important piece here. 1540 01:16:32,560 --> 01:16:35,360 I think this has been the difference that has made us profitable. 1541 01:16:35,920 --> 01:16:39,520 We became the only OTT in the country whose founders people know, 1542 01:16:39,600 --> 01:16:41,040 whose story people know. 1543 01:16:41,120 --> 01:16:43,960 So it became easier for them to trust the product. 1544 01:16:44,080 --> 01:16:47,240 And then, we brought in Neeraj Chopra as the brand ambassador, 1545 01:16:47,360 --> 01:16:48,920 adding another layer of trust. 1546 01:16:49,000 --> 01:16:52,760 And today, we have grown 60 times in terms of revenue. 1547 01:16:55,520 --> 01:16:57,920 We'll be doing roughly 15 crore rupees this month in revenue. 1548 01:16:57,960 --> 01:16:59,280 Our content has had 1549 01:16:59,360 --> 01:17:01,960 a colonial hangover for a long time. 1550 01:17:02,040 --> 01:17:05,280 When content is made in a certain language or region 1551 01:17:05,360 --> 01:17:07,520 it is shown in a certain way. 1552 01:17:07,600 --> 01:17:11,000 Only grassroots aspects are shown. What is your vision for this? 1553 01:17:11,080 --> 01:17:14,520 In our country, people are made to feel inferior 1554 01:17:14,600 --> 01:17:16,640 just for speaking their own language. 1555 01:17:16,760 --> 01:17:19,640 When we onboarded Neeraj Chopra 1556 01:17:19,720 --> 01:17:21,480 and launched our first brand campaign, 1557 01:17:21,560 --> 01:17:24,120 our campaign was about embracing who we are. 1558 01:17:24,200 --> 01:17:27,120 That's our entire vision in one hashtag. 1559 01:17:27,200 --> 01:17:29,960 Which means that just the way you are, you are great. 1560 01:17:30,040 --> 01:17:33,280 If you are Haryanvi or Rajasthani, take pride in your culture. 1561 01:17:33,360 --> 01:17:35,440 And that's what we are trying to build with STAGE. 1562 01:17:35,560 --> 01:17:39,040 Our vision has evolved into... that STAGE is a revolution. 1563 01:17:39,160 --> 01:17:42,480 It is about giving validation and celebration 1564 01:17:42,560 --> 01:17:44,640 to people's socio-cultural identities. 1565 01:17:44,720 --> 01:17:48,560 Have any other celebrities shown interest in your content? 1566 01:17:48,640 --> 01:17:51,720 One name I can reveal is Yashpal Sharma. 1567 01:17:51,800 --> 01:17:54,200 We have already created three pieces of content with him on our platform. 1568 01:17:54,200 --> 01:17:56,560 Two are under production and will be released soon. 1569 01:17:56,640 --> 01:17:59,000 Much bigger names and stars 1570 01:17:59,080 --> 01:18:01,160 will be seen on STAGE very soon. 1571 01:18:01,280 --> 01:18:02,960 Where does this grit come from in you? 1572 01:18:03,080 --> 01:18:05,280 You fell, got back up, 1573 01:18:05,360 --> 01:18:07,720 and are now reaching another big milestone. 1574 01:18:07,840 --> 01:18:09,040 Our simple belief is that 1575 01:18:09,120 --> 01:18:13,440 there is no more powerful medium than content for mass influence. 1576 01:18:13,600 --> 01:18:14,720 One company shut down, 1577 01:18:14,800 --> 01:18:16,560 but stories didn't stop scaling. 1578 01:18:16,640 --> 01:18:18,480 The impact of stories didn't stop. 1579 01:18:18,640 --> 01:18:21,120 So we said, okay, one shut down, we will tell stories again, 1580 01:18:21,280 --> 01:18:23,960 but in a different way this time. It's as simple as that. 1581 01:18:24,200 --> 01:18:25,360 That is what drives us. 1582 01:18:25,440 --> 01:18:27,160 When the reason is right, every day feels fun. 1583 01:18:27,160 --> 01:18:29,440 - You are not chasing a destination. - Yes. 1584 01:18:29,520 --> 01:18:32,280 You are enjoying every day. Making movies and seeing the impact daily, 1585 01:18:32,400 --> 01:18:33,600 talking to users daily. 1586 01:18:33,680 --> 01:18:36,240 Then it's about the journey, not the destination. 1587 01:18:36,320 --> 01:18:38,560 I think the motivation is very different. 1588 01:18:38,680 --> 01:18:42,120 By tripling your valuation and bringing regional languages 1589 01:18:42,200 --> 01:18:44,920 into the mainstream, you have given STAGE a new identity. 1590 01:18:45,000 --> 01:18:46,680 And that is why we want to honour you 1591 01:18:46,760 --> 01:18:49,000 with a special place in the Adani Hall of Achievements. 1592 01:18:50,800 --> 01:18:52,440 This is our Adani Hall of Achievements, 1593 01:18:52,560 --> 01:18:55,760 where we cover successful founders like you. 1594 01:18:55,840 --> 01:18:57,720 How does it feel to relive these moments? 1595 01:18:57,800 --> 01:18:59,080 There is a lot of nostalgia. 1596 01:18:59,160 --> 01:19:02,480 We're the second batch of Shark Tank entrepreneurs. 1597 01:19:02,560 --> 01:19:04,000 So coming back feels great. 1598 01:19:11,320 --> 01:19:13,440 [lively music] 1599 01:19:19,200 --> 01:19:20,600 Hello and welcome to Ask the Shark. 1600 01:19:25,800 --> 01:19:28,800 Once, he was coughing at home, his family said he was talking too much. 1601 01:19:29,280 --> 01:19:32,480 We have with us the co-founder of Snapdeal and Titan Capital 1602 01:19:32,600 --> 01:19:35,680 and the promoter of Unicommerce E-Solutions, Mr Kunal Bahl. 1603 01:19:35,920 --> 01:19:38,000 - How are you, sir? - I'm good, Aashish. How are you? 1604 01:19:38,040 --> 01:19:40,920 First class, sir. Meeting you gives me a lot of positive energy. 1605 01:19:44,080 --> 01:19:45,640 Anyway, let me ask today's question. 1606 01:19:45,720 --> 01:19:48,760 Today's question has been sent by Anushka Nihalani from Bhopal, 1607 01:19:48,840 --> 01:19:49,840 who is 31 years old. 1608 01:20:04,560 --> 01:20:07,000 ...that actually originated in the US, in Silicon Valley, 1609 01:20:07,120 --> 01:20:09,520 - from a fund called Bessemer Venture Partners. - Okay. 1610 01:20:09,640 --> 01:20:11,560 It's a very old and large fund. 1611 01:20:11,680 --> 01:20:14,040 They were the ones who coined the term 'anti-portfolio.' 1612 01:20:14,120 --> 01:20:18,960 These are the companies that an investor had the opportunity to meet... 1613 01:20:54,000 --> 01:20:57,280 ...about the great companies they had met 1614 01:20:57,360 --> 01:21:00,640 but had chosen not to invest in, which later became massive. 1615 01:21:00,720 --> 01:21:03,800 See you next time on Ask the Shark with a new question and a new shark.