1 00:00:32,000 --> 00:00:34,520 [theme music playing] 2 00:00:45,440 --> 00:00:48,280 [theme music playing] 3 00:00:53,600 --> 00:00:56,040 [theme music playing] 4 00:01:14,000 --> 00:01:17,000 Sharks, this balloon looks so beautiful, doesn't it? 5 00:01:17,640 --> 00:01:20,080 Wait, what? This balloon is losing air. 6 00:01:20,880 --> 00:01:23,600 Sharks, our skin is like this balloon. 7 00:01:23,680 --> 00:01:25,920 - Oh no! - With age, pollution, 8 00:01:26,000 --> 00:01:29,800 stress and chemical-filled food, 9 00:01:29,920 --> 00:01:32,960 it becomes lifeless just like this deflated balloon. 10 00:01:33,200 --> 00:01:35,320 Sharks, I've been a model in the past. 11 00:01:35,440 --> 00:01:37,960 I have faced these issues. 12 00:01:38,040 --> 00:01:40,880 Creams and serums have their limitations. 13 00:01:40,960 --> 00:01:42,880 But I wanted a solution 14 00:01:43,000 --> 00:01:44,800 which fixes me from within. 15 00:01:45,200 --> 00:01:46,280 Like supplements? 16 00:01:46,400 --> 00:01:48,600 General supplements are widely available in the market. 17 00:01:48,680 --> 00:01:51,000 But what about targeted nutrition supplements 18 00:01:51,120 --> 00:01:53,720 for skin and hair which fixes you from within? 19 00:02:05,000 --> 00:02:08,680 Sharks, we are siblings from Delhi who will keep fighting. 20 00:02:08,760 --> 00:02:10,160 Let's talk about Beautywise. 21 00:02:10,240 --> 00:02:12,480 It is an advanced supplement brand 22 00:02:12,560 --> 00:02:15,040 for skin, hair and body. 23 00:02:20,120 --> 00:02:21,600 designed to deliver both powder-based 24 00:02:46,680 --> 00:02:49,360 and advanced marine collagen for anti-ageing. 25 00:02:57,120 --> 00:03:00,960 We are not just customers' but also dermatologists' favourite brand. 26 00:03:01,600 --> 00:03:03,720 Today, more than 1 lakh customers 27 00:03:03,800 --> 00:03:05,840 trust us and have consumed Beautywise products. 28 00:03:05,920 --> 00:03:08,840 And over 1,000 cosmetologists and dermatologists 29 00:03:15,720 --> 00:03:18,720 Through Beautywise, we aim to educate people 30 00:03:18,800 --> 00:03:20,240 to be proactive 31 00:03:20,360 --> 00:03:22,960 and become the best, most beautiful version of themselves. 32 00:03:23,080 --> 00:03:25,240 Sharks, today, our ask is 33 00:03:25,320 --> 00:03:29,000 Rs. 1 crore for 1.5% equity in Beautywise. 34 00:03:29,120 --> 00:03:32,200 - So, let's approach beauty... - Wisely! 35 00:03:33,440 --> 00:03:35,200 Awesome! Welcome to the tank. 36 00:03:35,280 --> 00:03:36,200 - Thank you. - Thank you! 37 00:03:36,280 --> 00:03:39,760 - Beauty and wise, Anousha. - She left nothing for me. 38 00:03:39,880 --> 00:03:42,920 - And so on, and so forth, Shreyansh! - And et cetera. 39 00:03:43,280 --> 00:03:47,080 I've been in the startup ecosystem for around 15 years. 40 00:03:52,200 --> 00:03:53,760 First, it was Proptech, then Healthtech, 41 00:03:53,840 --> 00:03:56,040 followed by Foodtech. After that came Edtech. 42 00:03:56,200 --> 00:03:59,000 Then, in 2021, it was skincare and D2C brands. 43 00:03:59,240 --> 00:04:04,040 - This year, supplements are just exploding. - Is it? 44 00:04:04,120 --> 00:04:08,240 Our friend, Namita, has launched her supplements brand called Arth. 45 00:04:08,400 --> 00:04:10,360 [laughing] 46 00:04:10,440 --> 00:04:11,560 Thank you, Vineeta. 47 00:04:11,680 --> 00:04:16,000 So, did you launch this after seeing all the momentum 48 00:04:16,120 --> 00:04:18,400 or were you already thinking about it? 49 00:04:18,560 --> 00:04:20,240 And how are you different from the rest? 50 00:04:20,400 --> 00:04:23,240 This started with a personal challenge 51 00:04:23,320 --> 00:04:24,720 when I used to be a model. 52 00:04:24,880 --> 00:04:27,280 Back then, due to excessive hair and makeup, 53 00:04:27,480 --> 00:04:29,360 an erratic schedule, and all those factors 54 00:04:29,440 --> 00:04:31,360 were damaging my skin. 55 00:04:31,440 --> 00:04:34,080 I tried various creams and serums, 56 00:04:34,160 --> 00:04:36,320 and while they helped, the results weren't dramatic. 57 00:04:36,400 --> 00:04:38,920 My friends used to travel to foreign countries 58 00:04:39,040 --> 00:04:41,000 and trust the ingredients, collagen 59 00:04:41,080 --> 00:04:43,640 and other supplements available there. 60 00:04:43,720 --> 00:04:46,560 But there were no brands in India that I could rely on, 61 00:04:46,640 --> 00:04:52,120 expecting good results while also ensuring the ingredients were safe. 62 00:04:52,200 --> 00:04:53,800 How long did you model for 63 00:04:53,920 --> 00:04:55,440 and when did you experience this? 64 00:04:55,520 --> 00:04:59,280 I was a model till 2017. 65 00:04:59,720 --> 00:05:02,920 We launched this brand in 2020-2021. 66 00:05:03,040 --> 00:05:04,600 Which college did you study at, Anousha? 67 00:05:10,840 --> 00:05:12,520 I completed my schooling at DPS R.K. Puram. 68 00:05:12,600 --> 00:05:13,440 - Oh! - Nice! 69 00:05:13,560 --> 00:05:15,600 - There are three people from DPS R. K. Puram. - Really? 70 00:05:15,640 --> 00:05:16,440 Yeah! 71 00:05:16,520 --> 00:05:19,240 After that, I did my BCom Honours from Kirori Mal College. 72 00:05:19,320 --> 00:05:20,400 I worked at PWC. 73 00:05:20,480 --> 00:05:22,520 I did my MBA at Symbiosis, Pune. 74 00:05:26,320 --> 00:05:27,600 [laughing] 75 00:05:27,680 --> 00:05:29,040 Then, I secured a college placement 76 00:05:29,120 --> 00:05:30,800 as a management trainee with Whirlpool. 77 00:05:30,920 --> 00:05:33,720 After that, there is a Chinese conglomerate called TCL. 78 00:05:33,840 --> 00:05:36,480 When they launched their televisions in India, 79 00:05:36,560 --> 00:05:38,640 I was part of their core team. 80 00:05:38,760 --> 00:05:41,200 - You quit and started Beautywise. - Yes! 81 00:05:41,280 --> 00:05:43,880 In 2021, Anousha had an idea, 82 00:05:43,960 --> 00:05:45,960 along with premises and hypotheses. 83 00:05:46,040 --> 00:05:48,640 We analysed the market size, looked at what was currently available, 84 00:05:48,640 --> 00:05:50,520 and considered what could happen in the future. 85 00:05:50,640 --> 00:05:54,920 And in 2019, before the supplement mushroomed into a product, 86 00:05:55,040 --> 00:05:58,080 Anousha had a lot of clarity about 87 00:05:58,160 --> 00:05:59,440 what collagen is 88 00:05:59,560 --> 00:06:02,400 and how you can take care of yourself from within. 89 00:06:02,480 --> 00:06:04,600 So, I wanted to transform this 90 00:06:04,680 --> 00:06:07,480 in-depth consumer knowledge into a business with her. 91 00:06:07,600 --> 00:06:09,760 How old are you? You have a lot of work experience. 92 00:06:09,840 --> 00:06:10,680 35 years old. 93 00:06:10,800 --> 00:06:13,200 35 years? This means collagen worked for you. 94 00:06:13,320 --> 00:06:15,480 - You are his older sister. - By five years. 95 00:06:15,560 --> 00:06:18,320 Oh my God! You look like you are 18. 96 00:06:18,400 --> 00:06:19,960 - Thank you! - Just like Ritesh. 97 00:06:20,240 --> 00:06:21,720 - The medicine is working. - Oh my God! 98 00:06:21,760 --> 00:06:23,840 - So true. - He is actually 18. 99 00:06:24,360 --> 00:06:27,160 [music playing] 100 00:06:27,480 --> 00:06:28,880 Okay! 101 00:06:29,240 --> 00:06:31,760 Hey, leave some for us. 102 00:06:31,840 --> 00:06:33,360 Okay! 103 00:06:36,480 --> 00:06:40,520 Okay, I'll check Skin Repair. Blueberry! 104 00:06:44,160 --> 00:06:45,320 Sorry, Kunal! 105 00:06:45,400 --> 00:06:47,680 Nothing is left for me. Thank you! 106 00:06:58,280 --> 00:07:00,160 What is your popular product? 107 00:07:00,240 --> 00:07:02,040 The most popular product is Skin Brilliance. 108 00:07:03,880 --> 00:07:06,040 What is collagen? 109 00:07:07,440 --> 00:07:09,680 Collagen is an animal-based protein. 110 00:07:09,800 --> 00:07:12,440 It is the most abundant protein in our skin and body. 111 00:07:28,720 --> 00:07:31,480 Proteins are long chains of amino acids. 112 00:07:31,560 --> 00:07:35,200 When they are broken down, the body is able to consume them. 113 00:07:35,320 --> 00:07:37,400 That is called peptide or hydrolysis, 114 00:07:37,520 --> 00:07:40,200 which occurs through an enzymatic action. 115 00:07:40,280 --> 00:07:42,800 What happens is that the molecules become so small 116 00:07:42,880 --> 00:07:44,120 that your body can absorb them, 117 00:07:44,160 --> 00:07:46,400 utilise them, and transport them into the blood. 118 00:07:46,520 --> 00:07:49,080 So, basically, peptides are a smaller form of protein. 119 00:07:49,160 --> 00:07:50,760 - Correct. - But it's all amino acids. 120 00:07:50,840 --> 00:07:52,920 - Peptides increase overall absorption. - Correct. 121 00:07:53,040 --> 00:07:54,480 - They enhance absorption. - It's more targeted. 122 00:07:54,480 --> 00:07:55,600 It's more targeted 123 00:07:55,680 --> 00:07:58,120 and it is the only thing that the body can utilize. 124 00:07:58,760 --> 00:08:01,720 - You claim 'weight loss'. - Yes! 125 00:08:01,920 --> 00:08:03,560 I think I have a little problem with that. 126 00:08:12,320 --> 00:08:15,560 But now, they are injecting this at kitty parties, 127 00:08:15,640 --> 00:08:18,200 - weddings and parties. - Yes. 128 00:08:18,280 --> 00:08:21,600 And it has its side effects for people who don't need it. 129 00:08:28,800 --> 00:08:30,240 and we've also developed a product. 130 00:08:30,320 --> 00:08:32,560 But weight management 131 00:08:32,640 --> 00:08:35,160 is a more realistic, truthful, and authentic approach. 132 00:08:35,240 --> 00:08:37,120 You can't claim weight loss. 133 00:08:37,200 --> 00:08:38,560 I can make this claim 134 00:08:38,680 --> 00:08:40,320 because it is supported by clinical trials 135 00:08:40,320 --> 00:08:43,680 that show a weight loss of 1.4 kg 136 00:08:43,800 --> 00:08:47,160 over a period of 2 months with a sample size, and not just one trial. 137 00:08:47,240 --> 00:08:48,440 I'm talking about 6 trials. 138 00:08:48,560 --> 00:08:52,240 I am talking about the patented B420 ingredient used in this. 139 00:08:59,360 --> 00:09:01,120 I'm excited to share the research with you. 140 00:09:01,200 --> 00:09:04,520 Do you have any data on how much weight has been lost? - Yes. 141 00:09:04,600 --> 00:09:07,120 - 1... - What is the endpoint of the trial? 142 00:09:12,480 --> 00:09:15,520 Abroad. On average, there is a body fat loss 143 00:09:15,600 --> 00:09:18,440 of 1.4 kg, where your muscle mass is maintained, 144 00:09:18,520 --> 00:09:21,520 and only 1.4 kg of fat is reduced. 145 00:09:21,640 --> 00:09:24,360 There is a measurable difference in your waist circumference. 146 00:09:24,440 --> 00:09:26,640 - So, it... - How many patients were part of this trial? 147 00:09:32,040 --> 00:09:34,160 - I have a question regarding your product. - Yes. 148 00:09:34,240 --> 00:09:37,240 Skin Brilliance is your top-selling product, right? 149 00:09:37,480 --> 00:09:39,200 If someone starts consuming it, 150 00:09:39,280 --> 00:09:40,280 for how long 151 00:09:43,520 --> 00:09:45,800 - in their... - Optimal results in 2 months. 152 00:09:45,880 --> 00:09:49,200 But they start seeing results in 30 days. 153 00:09:49,920 --> 00:09:52,280 How long should it be used? 154 00:09:52,400 --> 00:09:53,840 Continuously? For a lifetime? 155 00:09:53,920 --> 00:09:55,760 Or take it for 2-3 months and then discontinue. 156 00:10:14,760 --> 00:10:17,800 If you want to continue, then you should take a break of 1 month. 157 00:10:17,880 --> 00:10:19,960 And its effects will start wearing off in six months. 158 00:10:26,520 --> 00:10:27,880 Shreyansh and Anousha, 159 00:10:30,960 --> 00:10:32,480 So, where have you reached now? 160 00:10:32,560 --> 00:10:34,560 We began with Apollo Pharmacy, 161 00:10:34,680 --> 00:10:37,320 where we achieved sales of Rs. 50 lakhs in the first year. 162 00:10:37,440 --> 00:10:38,880 Is this FY22? 163 00:10:38,960 --> 00:10:39,960 This is FY22. 164 00:10:40,040 --> 00:10:42,120 - What about FY23? - Rs. 2.2 crores. 165 00:10:42,200 --> 00:10:43,200 Oh, very nice. 166 00:10:44,040 --> 00:10:45,760 - FY24? - Rs. 6.7 crores. 167 00:10:45,840 --> 00:10:47,320 What is it this year? 168 00:10:47,400 --> 00:10:48,800 - We will do Rs. 14.5 crores. - Oh! 169 00:10:51,760 --> 00:10:54,800 On Rs. 50 lakhs, we had a 7% EBIT. 170 00:10:59,280 --> 00:11:00,440 Very good! 171 00:11:03,080 --> 00:11:04,880 And at what valuation did you raise this? 172 00:11:04,960 --> 00:11:06,680 - Rs. 35 crores pre-money and Rs. 42 crores post - Pre-money. 173 00:11:06,680 --> 00:11:08,080 - Which year? - February, this year. 174 00:11:14,720 --> 00:11:16,720 The largest and the oldest skin clinic we cracked... 175 00:11:16,760 --> 00:11:18,080 - Which one? - Kaya Skin Clinic. 176 00:11:18,600 --> 00:11:21,320 It did good business, and repeat sales started coming in very well. 177 00:11:21,400 --> 00:11:22,680 After a time period, 178 00:11:22,760 --> 00:11:26,200 the skin clinics started launching their collagen supplement. 179 00:11:26,320 --> 00:11:28,680 But our products stand out. 180 00:11:28,760 --> 00:11:32,000 They're still with Kaya and continuing to serve customers. 181 00:11:32,440 --> 00:11:34,280 We changed our strategy completely 182 00:11:34,560 --> 00:11:36,320 - and started e-commerce. - Okay. 183 00:11:36,400 --> 00:11:39,120 E-commerce contributed 24% in Q4 184 00:11:39,200 --> 00:11:41,120 of the previous financial year. 185 00:11:48,280 --> 00:11:50,720 but now we've reached Rs. 1.5 crores in this quarter. 186 00:11:57,160 --> 00:12:00,440 - 6% is pharmacies and trade. - Okay! 187 00:12:00,520 --> 00:12:03,640 38% is e-commerce 188 00:12:03,720 --> 00:12:05,600 and 6% is D2C. 189 00:12:06,960 --> 00:12:08,840 Let's talk about unit economics. 190 00:12:08,920 --> 00:12:11,800 Can you tell us the average order value and gross margin? 191 00:12:12,600 --> 00:12:15,400 Rs. 1250 is the net of everything. 192 00:12:15,520 --> 00:12:17,000 The money that comes in our bank. 193 00:12:17,120 --> 00:12:20,360 Hold on! 194 00:12:20,440 --> 00:12:22,320 This is almost 35%-40%. 195 00:12:22,440 --> 00:12:24,160 This product retails for Rs. 3,000. 196 00:12:24,240 --> 00:12:26,800 Then how is your average Rs. 1,250? 197 00:12:27,240 --> 00:12:28,240 Because that is the MRP. 198 00:12:28,280 --> 00:12:30,560 This is after deducting the margin 199 00:12:30,640 --> 00:12:34,200 - by selling it to the skin clinics. I sell it to them... - Okay! 200 00:12:35,720 --> 00:12:37,360 What is the partner margin? 201 00:12:37,440 --> 00:12:39,920 It varies from 40% to 50%. 202 00:12:40,000 --> 00:12:41,680 Sometimes, we crack 30% also now. 203 00:12:41,760 --> 00:12:43,680 Now we started cracking even 25%. 204 00:12:46,560 --> 00:12:49,680 And then, our COGS is Rs. 450, 205 00:12:49,800 --> 00:12:52,520 which gives us a gross profit of Rs. 800. 206 00:12:52,600 --> 00:12:55,120 Rs. 50 is our shipping. 207 00:12:55,200 --> 00:12:58,600 Rs. 100 is e-commerce commissions and marketing is Rs. 450. 208 00:12:58,720 --> 00:13:02,000 Rs. 80 is salaries and Rs. 20 is all other expenses. 209 00:13:02,240 --> 00:13:05,440 We are left with Rs. 100, and Rs. 10 of that goes into R&D. 210 00:13:05,520 --> 00:13:07,160 So, Rs. 90 is your EBITDA. 211 00:13:07,280 --> 00:13:09,080 No! I... 212 00:13:09,200 --> 00:13:10,320 - What else is left? - What else? 213 00:13:10,320 --> 00:13:12,080 My EBITDA is Rs. 75. 214 00:13:12,160 --> 00:13:13,720 We will figure out Rs. 15. 215 00:13:13,800 --> 00:13:15,800 How much cash do you have in your bank? 216 00:13:15,880 --> 00:13:17,520 Rs. 2.75 crores. 217 00:13:18,240 --> 00:13:19,440 Tell me one thing, Anousha and Shreyansh. 218 00:13:19,480 --> 00:13:21,640 Everything is going well. The business is doing good. 219 00:13:21,720 --> 00:13:23,280 You've nailed marketing. 220 00:13:23,400 --> 00:13:25,360 You are doing marketing, the products are great, 221 00:13:25,440 --> 00:13:27,160 and you're seeing the demand. 222 00:13:27,240 --> 00:13:29,160 There's growth happening, and D2C is performing well. 223 00:13:29,200 --> 00:13:32,880 What problem could you face in the long term in this business? 224 00:13:33,120 --> 00:13:34,800 I won't say it is a problem. 225 00:13:34,920 --> 00:13:36,640 It's evident what we weren't able to clear. 226 00:13:36,760 --> 00:13:39,360 We haven't ventured into D2C. 227 00:13:39,720 --> 00:13:44,240 Your challenge will be the market size, which is very limited. 228 00:13:44,360 --> 00:13:48,120 - If I need to spend Rs. 100 daily... - This is premium. 229 00:13:48,680 --> 00:13:51,880 On hair and skin improvement, 230 00:13:52,000 --> 00:13:53,800 how many people in India can afford that? 231 00:13:53,880 --> 00:13:55,760 You are selling it for Rs. 3,000. 232 00:13:55,840 --> 00:13:58,640 - It cost Rs. 450 to make it. - Yes. 233 00:13:58,720 --> 00:14:00,320 The gross margins are unheard of. 234 00:14:01,640 --> 00:14:04,200 - If I am your competitor... - Yes? 235 00:14:04,280 --> 00:14:05,960 - And you have many competitors. - Yes. 236 00:14:06,040 --> 00:14:08,560 I will buy this product for Rs. 450 237 00:14:08,640 --> 00:14:11,120 and sell it in D2C for Rs. 1,000. 238 00:14:11,200 --> 00:14:12,960 That is how I will scale. Why would I... 239 00:14:13,120 --> 00:14:17,240 You won't have any foundation left to compete. 240 00:14:17,360 --> 00:14:18,960 We have exclusive technology. 241 00:14:19,040 --> 00:14:20,400 Contractual by the manufacturer. 242 00:14:20,480 --> 00:14:22,160 - He's the only manufacturer who's building it. - No! 243 00:14:22,160 --> 00:14:24,080 This is made in India. But the US company 244 00:14:24,160 --> 00:14:26,200 - will distribute it to everyone. They've done trials. - They will. 245 00:14:26,200 --> 00:14:28,240 So, the molecule is the secret, not the manufacturer. 246 00:14:28,280 --> 00:14:30,480 No! This capsule is a probiotic. 247 00:14:30,640 --> 00:14:33,240 The release is delayed in your intestines, not in the stomach. 248 00:14:33,320 --> 00:14:35,720 It doesn't get broken down by acid because of the technology. 249 00:14:35,760 --> 00:14:37,240 It's a coating of LCLT 250 00:14:54,240 --> 00:14:57,120 You are spending Rs. 450 on marketing. 251 00:14:57,240 --> 00:14:58,960 - Is this all on D2C? - No, sir. 252 00:14:59,120 --> 00:15:00,480 Where are you spending it? 253 00:15:00,520 --> 00:15:03,560 You can say, we also include listing fees 254 00:15:03,680 --> 00:15:05,560 for offline channels. 255 00:15:05,640 --> 00:15:08,880 Out of Rs. 450, how much do you spend on D2C? 256 00:15:09,320 --> 00:15:12,200 In D2C, my cost of acquisition is Rs 600. 257 00:15:17,400 --> 00:15:19,240 - Because it is being pushed. - Correct. 258 00:15:19,360 --> 00:15:22,000 You are giving a lot of margin. 259 00:15:22,080 --> 00:15:24,760 Around Rs. 1,600, plus listing fee. 260 00:15:24,840 --> 00:15:26,360 This makes it very profitable for them. 261 00:15:26,440 --> 00:15:28,200 They're bringing in more income than 262 00:15:28,280 --> 00:15:30,200 what they get from each customer for a treatment. 263 00:15:30,400 --> 00:15:34,120 In the online space, if we look at the churn, 264 00:15:34,400 --> 00:15:36,040 it will be quite high. 265 00:15:36,120 --> 00:15:40,360 - The adherence in such a category is quite low. - Yes. 266 00:15:40,440 --> 00:15:44,200 And in this situation, you'll have to keep pushing the customer 267 00:15:44,280 --> 00:15:45,760 - to continue making purchases. - Yes. 268 00:15:45,800 --> 00:15:49,680 You said you need to use the product for around 5-6 months 269 00:15:49,760 --> 00:15:51,840 and then take a break. A customer will rarely 270 00:15:51,920 --> 00:15:54,720 keep paying Rs. 3,000. 271 00:15:54,800 --> 00:15:57,240 - This is not the only product they are consuming. - Yes. 272 00:15:57,360 --> 00:15:59,200 They are consuming more similar products. 273 00:15:59,200 --> 00:16:00,760 They are also consuming prescribed medicines. 274 00:16:00,760 --> 00:16:02,880 There are a lot of expenses in a household. 275 00:16:03,040 --> 00:16:05,680 As the scale goes up, you mentioned it will touch Rs. 14 crores. 276 00:16:05,800 --> 00:16:07,840 When it becomes around Rs. 40 crores, 277 00:16:07,920 --> 00:16:11,760 you will see that there is no money left to grow the business. 278 00:16:12,320 --> 00:16:16,000 Offline, the toughest profession 279 00:16:16,120 --> 00:16:19,040 to convince to give their patients... 280 00:16:19,120 --> 00:16:21,480 We are talking about Tier 1, the crème de la crème 281 00:16:21,560 --> 00:16:23,160 dermatologists and cosmetologists. 282 00:16:23,400 --> 00:16:26,960 Convincing them, bringing scientific dossiers, 283 00:16:27,040 --> 00:16:29,480 hiring people, conducting research 284 00:16:29,560 --> 00:16:30,760 and doing actual testing, 285 00:16:30,880 --> 00:16:32,720 all to educate the customers. 286 00:16:32,840 --> 00:16:34,520 Shreyansh, stop right here. 287 00:16:35,600 --> 00:16:38,240 - I have been quiet for quite some time. - Okay! 288 00:16:38,320 --> 00:16:40,360 I absolutely agree with Kunal. 289 00:16:40,440 --> 00:16:43,040 I've been running a derma division 290 00:16:43,120 --> 00:16:45,000 for the last 15 years at Emcure. 291 00:16:45,080 --> 00:16:47,640 I know how things operate in several clinics. 292 00:16:47,720 --> 00:16:51,560 The product is for Rs. 3,000 and the clinic gets Rs. 1,800. 293 00:16:51,680 --> 00:16:53,600 That is a very big incentive. 294 00:16:53,680 --> 00:16:55,680 You call them dispensing clinics. 295 00:16:57,480 --> 00:16:59,680 That is the reason why the sales are happening. 296 00:16:59,960 --> 00:17:03,200 And the day you reduce this attractive margin, 297 00:17:03,320 --> 00:17:05,560 that is their revenue, 298 00:17:05,960 --> 00:17:07,880 your sales will drop by 50%. 299 00:17:08,920 --> 00:17:12,880 I disagree with the notion that this product is being pushed. 300 00:17:13,000 --> 00:17:15,560 I want to invite you to visit Kaya Skin Clinic, 301 00:17:15,640 --> 00:17:18,680 Apollo Pharmacy and ask them about Beautywise's collagen... 302 00:17:18,880 --> 00:17:21,440 But Kaya already has their products now. 303 00:17:22,200 --> 00:17:25,760 - Ask how their selling experience has been. - Only collagen capsules. 304 00:17:25,840 --> 00:17:27,120 What is their level of knowledge 305 00:17:27,360 --> 00:17:29,040 and how it has benefited their customer. 306 00:17:29,120 --> 00:17:33,200 See, Shreyansh and Anousha, you achieved sales of Rs. 14.5 crores. 307 00:17:33,360 --> 00:17:35,360 - My compliments to you. - Thank you! 308 00:17:35,440 --> 00:17:37,520 I really like the packaging and all. 309 00:17:37,640 --> 00:17:40,040 You know, the way you've designed the capsule. 310 00:17:40,280 --> 00:17:41,480 You are gorgeous at 40. 311 00:17:41,560 --> 00:17:45,720 You are the best brand ambassador. Get on Instagram and explode it 312 00:17:45,800 --> 00:17:47,600 - as the face of the company. - Thank you! 313 00:17:47,680 --> 00:17:51,280 - But unfortunately, I know this space really well. - Right! 314 00:17:51,360 --> 00:17:55,640 And that's why it's important to implement the insights 315 00:17:55,760 --> 00:17:58,120 and guidance I shared with you. 316 00:17:58,200 --> 00:18:01,000 We also have supplements in our D2C brand. 317 00:18:01,040 --> 00:18:02,720 - But we are not saying weight loss. - Yes. 318 00:18:02,760 --> 00:18:06,440 So, for these reasons, my comfort level is a bit low with the product. 319 00:18:06,600 --> 00:18:07,600 For today, I am out. 320 00:18:07,760 --> 00:18:09,480 - But I wish you the best. - Thank you so much. 321 00:18:09,520 --> 00:18:12,240 - Thank you for the valuable insights. - Thank you! 322 00:18:12,400 --> 00:18:14,880 Shreyansh and Anousha. Firstly, I really like you, Shreyansh. 323 00:18:14,960 --> 00:18:17,200 Your depth of understanding, 324 00:18:17,280 --> 00:18:19,120 like how you're thinking strategically 325 00:18:19,200 --> 00:18:21,360 - about building a profitable business. - Thank you, ma'am. 326 00:18:21,400 --> 00:18:23,880 And your product understanding is truly fabulous. 327 00:18:24,000 --> 00:18:25,240 Because of the fact 328 00:18:25,320 --> 00:18:27,680 that the cost of making is so low, 329 00:18:28,160 --> 00:18:31,200 right now, this category with so much competition 330 00:18:31,240 --> 00:18:32,720 is ripe for disruption. 331 00:18:32,880 --> 00:18:36,200 So, someone will come along who will do direct-to-consumer, 332 00:18:36,320 --> 00:18:38,040 eliminate middlemen, 333 00:18:38,160 --> 00:18:39,640 educate everyone online, 334 00:18:39,720 --> 00:18:42,040 and sell a product that costs Rs. 450 for Rs. 1,000. 335 00:18:42,960 --> 00:18:45,120 And make it a Rs. 1,000 crore business. 336 00:18:45,280 --> 00:18:48,720 If you don't pivot soon... 337 00:18:48,800 --> 00:18:51,680 - If we don't pivot. - How to create a differential line for clinics 338 00:18:51,800 --> 00:18:53,880 - and a differential one for D2C? - Yeah! 339 00:18:54,000 --> 00:18:56,040 - Yes. - But think about that. I am out for now. Good luck. 340 00:18:56,040 --> 00:18:57,640 We will be that Rs. 1,000 crores brand. 341 00:18:57,720 --> 00:18:59,640 - Will that be you? - Absolutely! 342 00:18:59,920 --> 00:19:03,520 There is one thing I am still debating in my mind, 343 00:19:03,600 --> 00:19:06,800 which is that while it has significant benefits 344 00:19:07,400 --> 00:19:09,680 - and you said that there are no side effects. - Yes. 345 00:19:09,800 --> 00:19:12,680 You know that this is never completely true. 346 00:19:13,680 --> 00:19:15,560 Everything has consequences. 347 00:19:15,640 --> 00:19:18,760 - I think I will still take a bet on you. - Oh! 348 00:19:21,240 --> 00:19:23,360 - But with a condition. - Yes. 349 00:19:23,440 --> 00:19:25,440 We will carefully review your clinical trials again 350 00:19:25,440 --> 00:19:27,400 with due diligence 351 00:19:27,520 --> 00:19:30,640 - to understand their implications and study them thoroughly. - Right! 352 00:19:36,440 --> 00:19:39,400 But the valuation will remain the same as in your previous round. 353 00:19:41,240 --> 00:19:43,840 Rs. 1 crore for 2.38%. 354 00:19:48,960 --> 00:19:51,040 I think you are one of the smartest founders. 355 00:19:51,120 --> 00:19:54,040 Your first smart move was 356 00:19:54,120 --> 00:19:56,880 to take exclusive rights to your technology. 357 00:19:57,000 --> 00:19:58,640 You moved to offline. 358 00:19:58,720 --> 00:20:02,840 I don't agree with Vineeta, Namita or Kunal. 359 00:20:03,480 --> 00:20:06,480 If you pay the retailer, he will sell your product. 360 00:20:06,560 --> 00:20:07,760 I mean, what is the issue? 361 00:20:07,840 --> 00:20:10,520 You are making the money and so are they. I am fine with that. 362 00:20:11,560 --> 00:20:14,040 In the beginning, new companies have to do all this. 363 00:20:14,120 --> 00:20:16,400 That's a very smart move. 364 00:20:16,480 --> 00:20:18,600 - You played it smartly. - Thank you so much. 365 00:20:18,680 --> 00:20:20,200 And I'll tell you where I can help you. 366 00:20:20,280 --> 00:20:24,720 I want you to reduce your marketing spends 367 00:20:24,800 --> 00:20:26,880 by spending more on the brand. 368 00:20:27,920 --> 00:20:31,120 - Yes! - So, my offer to you is a closure offer. 369 00:20:31,320 --> 00:20:32,960 Rs. 1 crore 3%. 370 00:20:38,120 --> 00:20:40,400 We need to focus a lot on brand building. 371 00:20:40,480 --> 00:20:44,280 Since the strength you've built in your channel 372 00:20:44,360 --> 00:20:47,360 so far needs to be solidified, and a moat has to be created around it, 373 00:20:47,440 --> 00:20:50,240 ensuring that no one can replace you in the future. 374 00:20:51,520 --> 00:20:55,320 - Yes! - If you want to reduce your marketing costs for online, 375 00:20:55,400 --> 00:20:57,520 - you need to create a brand again. - Absolutely! 376 00:20:57,680 --> 00:21:00,880 I have good experience in brand building. 377 00:21:00,960 --> 00:21:04,960 I have invested in many companies that have become huge brands. 378 00:21:05,800 --> 00:21:07,200 So, I have an offer for you. 379 00:21:08,280 --> 00:21:14,240 I will invest Rs. 2.15 crores at your last round's valuation for 5%. 380 00:21:21,040 --> 00:21:22,400 We have a counteroffer 381 00:21:22,480 --> 00:21:24,960 and that is open for everyone. 382 00:21:26,840 --> 00:21:28,920 Rs. 3 crores at a Rs. 50 crores valuation, 383 00:21:40,560 --> 00:21:42,400 Deal? Deal accepted? 384 00:21:42,480 --> 00:21:45,320 I am also okay with Rs. 3 crores at Rs. 50 crores valuation. 385 00:21:50,280 --> 00:21:52,560 Rs. 3 crores at 6%. You can say, 'deal accepted'. 386 00:21:58,600 --> 00:21:59,520 Deal accepted, Aman. 387 00:21:59,600 --> 00:22:01,760 - Yes! - Rs. 3 crores. 388 00:22:11,480 --> 00:22:12,560 Because I flipped the cart. 389 00:22:12,760 --> 00:22:14,000 [laughing] 390 00:22:14,080 --> 00:22:16,400 - Because he what? What did he say? - There we go. 391 00:22:16,640 --> 00:22:18,280 I flipped the cart. 392 00:22:18,960 --> 00:22:21,160 - Good job! - Thank you so much. 393 00:22:21,240 --> 00:22:22,400 We are going to do fabulous work with you. 394 00:22:22,400 --> 00:22:23,960 - We are very excited. - So excited! 395 00:22:24,240 --> 00:22:26,280 You guys are smart! You chose the smart Shark. 396 00:22:26,360 --> 00:22:27,480 [laughing] 397 00:22:27,560 --> 00:22:28,840 See you! Bye! 398 00:22:31,720 --> 00:22:35,120 Honestly, we came to raise Rs. 1 crore 399 00:22:35,200 --> 00:22:36,800 but ended up raising Rs. 3 crores. 400 00:22:36,880 --> 00:22:38,160 - And that too... - At a brilliant valuation. 401 00:22:38,160 --> 00:22:40,720 - And that too from my favourite person, Aman. - Yeah. 402 00:22:40,800 --> 00:22:44,480 The conviction that Aman showed us is also crucial. 403 00:22:44,560 --> 00:22:48,080 It shows that the investor truly believes in your brand 404 00:22:48,160 --> 00:22:51,040 and is willing to help us when we need it. 405 00:22:51,120 --> 00:22:54,280 - We got that kind of vibe from Aman. - Exactly! 406 00:22:54,400 --> 00:22:55,960 Hello, Shreyansh and Anousha. 407 00:22:56,040 --> 00:22:58,160 - Hello! - How was the experience? 408 00:22:58,240 --> 00:23:01,840 - It was amazing! It was like a thriller movie. - Oh! 409 00:23:01,920 --> 00:23:03,920 - They started fighting. - Yes. 410 00:23:04,040 --> 00:23:06,920 Oh God! It was fun. We kept saying 'yes'. 411 00:23:10,360 --> 00:23:12,640 - how can we be better? - Come on, Aman! Correct everyone. 412 00:23:13,200 --> 00:23:15,800 - Thank you! - Amazing! They were... 413 00:23:15,920 --> 00:23:17,880 It was the best possible scenario for you. 414 00:23:17,960 --> 00:23:20,240 - Right! - Yes, absolutely! We were here to seek Rs. 1 crore, 415 00:23:20,280 --> 00:23:23,800 but we got Rs. 3 crores and we have Aman with us. 416 00:23:23,920 --> 00:23:25,800 So, we are very happy and very satisfied. 417 00:23:25,880 --> 00:23:28,400 - Just saying, you were here for Rs. 1 crore. - Yes. 418 00:23:28,520 --> 00:23:30,360 So, let me borrow the rest. 419 00:23:31,200 --> 00:23:33,160 I need it. 420 00:23:33,320 --> 00:23:35,560 The thing is, with me, 421 00:23:35,640 --> 00:23:37,000 - no matter what I wear... - Right! 422 00:23:37,080 --> 00:23:38,960 I can't show that I have the money. 423 00:23:39,760 --> 00:23:41,560 - Understand? That is the issue. - Yes. 424 00:23:41,680 --> 00:23:42,720 - This is the issue. - The poor mindset, 425 00:23:42,720 --> 00:23:44,800 I still can't shake the poor mindset. 426 00:23:45,240 --> 00:23:46,320 - But... - Oh God! 427 00:23:46,400 --> 00:23:50,000 - Amazing! It was amazing! Your energy was great. - Thank you! 428 00:23:50,080 --> 00:23:53,000 - You should celebrate, so I thought of having something sweet. - Yes. 429 00:23:53,080 --> 00:23:55,040 - But you are health conscious, so... - Oh my! 430 00:23:55,120 --> 00:23:56,880 Let's look for healthy options. 431 00:23:57,000 --> 00:23:58,960 I opened Swiggy Instamart and I found the options. 432 00:23:59,000 --> 00:24:00,240 It was delivered in 10 minutes. 433 00:24:00,240 --> 00:24:01,360 - Wow! - Oh, wow! 434 00:24:01,440 --> 00:24:03,080 - Thank you so much! - Thank you! 435 00:24:03,200 --> 00:24:04,200 This is for you. 436 00:24:04,240 --> 00:24:05,720 Great! Let's have something sweet 437 00:24:05,800 --> 00:24:08,120 - with Swiggy. - Sure! I ordered healthy ice cream and sweets. 438 00:24:08,160 --> 00:24:09,400 - Amazing! - Let's eat together. 439 00:24:09,600 --> 00:24:11,160 - We should! Let's eat together. - Done! 440 00:24:11,280 --> 00:24:13,640 Friends, don't suppress your desires. Order what you want. 441 00:24:13,760 --> 00:24:15,160 You have one life, so enjoy it. 442 00:24:15,240 --> 00:24:16,160 Order from Swiggy Instamart. 443 00:24:16,240 --> 00:24:18,200 You get everything here and it gets delivered in 10 minutes. 444 00:24:18,240 --> 00:24:19,240 Order now! 445 00:24:43,160 --> 00:24:46,000 [theme music playing] 446 00:25:10,200 --> 00:25:12,720 Bengaluru, Rahul! We are from Bengaluru. 447 00:25:12,800 --> 00:25:17,360 You must be wondering, how can Rahul forget his city's name? 448 00:25:26,440 --> 00:25:30,640 Or, if you've met people a few times and forgotten their names, 449 00:25:30,800 --> 00:25:32,360 please raise your hands. 450 00:25:33,880 --> 00:25:35,880 Looks like the room is cognitively strong. 451 00:25:35,960 --> 00:25:38,040 But let's tell you a little bit more about it. 452 00:25:38,120 --> 00:25:39,360 Now, let me tell you something. 453 00:25:39,440 --> 00:25:41,880 This is all a part of normal ageing. 454 00:25:41,960 --> 00:25:45,000 This means that your cognitive skills 455 00:25:45,080 --> 00:25:47,480 like attention, memory and focus 456 00:25:47,600 --> 00:25:49,520 decline with age. 457 00:25:56,520 --> 00:26:00,680 But these things that look normal, might not be so normal. 458 00:26:00,720 --> 00:26:03,960 After the age of 40, the human brain shrinks 459 00:26:04,120 --> 00:26:06,720 by 5% in volume every 10 years. 460 00:26:13,080 --> 00:26:17,640 we call it mild cognitive impairment or MCI. 461 00:26:18,080 --> 00:26:21,040 In advanced stages, it can lead to dementia. 462 00:26:27,320 --> 00:26:31,400 Much like pre-diabetes comes before diabetes, 463 00:26:31,520 --> 00:26:35,520 mild cognitive impairment is the stage that precedes dementia. 464 00:26:36,040 --> 00:26:38,320 That's why it's very important that all of you 465 00:26:38,400 --> 00:26:41,000 get your cognitive assessments done regularly. 466 00:26:41,160 --> 00:26:43,600 That is why we bring to you Ivory. 467 00:26:43,720 --> 00:26:46,120 Ivory is a neuroscience-based gaming app 468 00:26:46,200 --> 00:26:48,480 which assesses your cognitive skills 469 00:26:48,560 --> 00:26:50,200 and helps maintain and track 470 00:26:50,280 --> 00:26:53,360 your cognitive health. 471 00:26:55,840 --> 00:26:57,880 and reviewed by our clinical team, 472 00:26:57,960 --> 00:27:01,520 which includes medical doctors and neuroscientists. 473 00:27:13,000 --> 00:27:16,040 From our recent product launch, we discovered 474 00:27:16,160 --> 00:27:18,880 that people are prepared for this product. 475 00:27:19,400 --> 00:27:24,360 On average, spends more than 10 minutes on our platform. 476 00:27:36,720 --> 00:27:39,400 To conclude, Sharks, if you can get your liver, 477 00:27:39,480 --> 00:27:41,600 kidney, and heart checked, 478 00:27:41,680 --> 00:27:44,880 don't forget to have your brain tested as well. 479 00:27:45,160 --> 00:27:48,680 Because every moment counts when it comes to memories. 480 00:27:49,680 --> 00:27:51,080 I am so happy! 481 00:27:51,160 --> 00:27:53,840 My compliments to Issac and Rahul. 482 00:27:53,920 --> 00:27:56,000 You are raising awareness 483 00:27:56,080 --> 00:27:58,520 about such a crucial topic. 484 00:27:58,640 --> 00:28:01,640 By learning Sudoku, 485 00:28:01,720 --> 00:28:04,080 new languages, and musical instruments, 486 00:28:04,240 --> 00:28:07,200 we can boost our cognitive health. 487 00:28:07,360 --> 00:28:09,160 - Neuroplasticity, right? - Yes! 488 00:28:15,560 --> 00:28:18,680 Rahul and I were raised by single parents. 489 00:28:18,760 --> 00:28:21,320 My parents separated very early, I was brought up by my father. 490 00:28:21,440 --> 00:28:23,920 Rahul lost his mother when he was in his early 20s. 491 00:28:24,040 --> 00:28:26,880 - Sorry to hear. - My father was diagnosed with Parkinson's disease. 492 00:28:34,560 --> 00:28:36,880 - which do not have the ability to reverse the condition. - Correct. 493 00:28:36,880 --> 00:28:39,960 I was working in Mumbai and Delhi. 494 00:28:40,040 --> 00:28:43,040 My dad was in Kerala. I've witnessed this problem. 495 00:28:43,120 --> 00:28:44,680 Rahul has had his experiences. 496 00:28:44,760 --> 00:28:47,280 Can you tell us where you worked in Mumbai and Delhi? 497 00:28:47,360 --> 00:28:48,760 Also, what are your qualifications? 498 00:28:49,120 --> 00:28:51,120 I worked as Head of Marketing for Puma. 499 00:28:51,200 --> 00:28:53,760 Issac, what did you do before that? 500 00:28:53,840 --> 00:28:57,040 Before that, I worked in a sports marketing company. 501 00:28:57,120 --> 00:29:00,320 And prior to that, I was the Sales Manager for HT Media. 502 00:29:00,440 --> 00:29:01,640 We've met. 503 00:29:01,720 --> 00:29:04,200 - We met at the Okhla office. - Many years ago. 504 00:29:04,320 --> 00:29:05,640 Okhla office of Snapdeal? 505 00:29:05,720 --> 00:29:06,960 - Of Snapdeal. Yes! - Yeah! 506 00:29:07,040 --> 00:29:08,880 They used to be one of our biggest customers. 507 00:29:08,960 --> 00:29:10,520 - Okay, fantastic! - Oh, for Puma? 508 00:29:10,720 --> 00:29:11,760 - Yes. - Rahul! 509 00:29:11,880 --> 00:29:13,520 I spent my childhood in Kerala. 510 00:29:13,600 --> 00:29:16,960 Post grade 12, I moved to NIT Rourkela for my graduation. 511 00:29:17,120 --> 00:29:19,800 It was for Mechanical Engineering. But I had no interest in it. 512 00:29:19,960 --> 00:29:24,080 Back then, I had an interest in coding, and there was an IT train 513 00:29:24,160 --> 00:29:25,760 during placements. 514 00:29:25,840 --> 00:29:28,440 I got on one of those trains and I never looked back. 515 00:29:28,840 --> 00:29:31,200 I worked at IBM for 4 years. 516 00:29:31,280 --> 00:29:33,080 After that, I did my MBA 517 00:29:33,200 --> 00:29:34,800 from SP Jain School of Global Management 518 00:29:35,040 --> 00:29:36,320 at Singapore and Dubai campuses. 519 00:29:42,840 --> 00:29:47,240 And I also decided that I needed to be closer to him to look after him. 520 00:29:47,320 --> 00:29:49,120 So, I decided to shift my career there 521 00:29:49,160 --> 00:29:51,880 and for four years I was working in Dubai. 522 00:29:51,960 --> 00:29:54,520 My work primarily involved account management roles. 523 00:29:54,600 --> 00:29:55,880 But my heart was always in tech. 524 00:29:55,880 --> 00:29:58,560 During that time, I got married, so I returned to India. 525 00:29:58,640 --> 00:30:00,840 I've been working in India since 2015. 526 00:30:00,920 --> 00:30:03,080 I always aspired to be an entrepreneur 527 00:30:03,160 --> 00:30:05,360 because of all the success stories in the Indian market. 528 00:30:06,680 --> 00:30:08,680 A program was starting in India for the first time. 529 00:30:08,760 --> 00:30:10,360 Basically, it's a co-founder matching program 530 00:30:10,360 --> 00:30:11,680 for people like Issac and me to meet. 531 00:30:11,680 --> 00:30:14,520 - What are you saying? Did you both meet in a program? 532 00:30:14,760 --> 00:30:16,560 - Yes. - Both of you were strangers. 533 00:30:16,640 --> 00:30:18,440 We met each other in 2022 for the first time. 534 00:30:18,520 --> 00:30:20,040 I never heard of such a program. 535 00:30:20,120 --> 00:30:21,640 The Antler platform was open, 536 00:30:26,320 --> 00:30:29,040 It's organic. They don't say, 537 00:30:29,120 --> 00:30:30,600 'Rahul is best for you.' 538 00:30:30,720 --> 00:30:32,160 - No! There is no course. - There is no course connect. 539 00:30:32,160 --> 00:30:33,600 - That is not the case. - That's incorrect. 540 00:30:33,640 --> 00:30:34,800 Was there anyone else from Kerala? 541 00:30:34,840 --> 00:30:37,600 You're right, Aman! The first thing we connected over 542 00:30:37,800 --> 00:30:39,360 was our love for Kerala food. 543 00:30:39,440 --> 00:30:40,440 Something common... 544 00:30:40,480 --> 00:30:41,800 - Yes! - That is one common string. 545 00:30:41,840 --> 00:30:43,600 - There are multiple other... - Could it be your family 546 00:30:43,640 --> 00:30:46,400 - situation? - Exactly! That was a very big common factor. 547 00:30:46,480 --> 00:30:48,960 Findyourcofounder.com could be a new business. 548 00:30:50,120 --> 00:30:52,400 - 'Cofoundergetsmarried.com'. - Yes! 549 00:30:52,480 --> 00:30:53,680 Why Ivory? 550 00:30:53,840 --> 00:30:56,200 Ivory because it's a very resilient element of nature. 551 00:30:56,320 --> 00:30:58,480 It's also a hat tip to the state both of us come from. 552 00:30:58,560 --> 00:31:00,080 Elephants! Kerala! 553 00:31:00,160 --> 00:31:02,440 Okay! Tell us how Ivory came to be. 554 00:31:02,520 --> 00:31:04,200 The irony is that both of us 555 00:31:04,320 --> 00:31:06,120 contracted Covid during that week at Antler. 556 00:31:06,200 --> 00:31:08,440 - Really? - So, we couldn't meet anyone else. 557 00:31:09,120 --> 00:31:11,240 That is when I came to know that Rahul 558 00:31:11,360 --> 00:31:14,920 wants to make a product to connect grandfathers and grandchildren. 559 00:31:15,080 --> 00:31:19,240 I told him that I wanted to make a product for family remembrance. 560 00:31:19,320 --> 00:31:20,680 Because when my father passed away, 561 00:31:20,720 --> 00:31:22,680 I had very few memories to go by. 562 00:31:22,840 --> 00:31:24,200 So, that is how our conversation started. 563 00:31:24,240 --> 00:31:26,880 We thought that our target group was the same, 564 00:31:27,240 --> 00:31:28,440 so we should give it a try. 565 00:31:28,640 --> 00:31:32,040 Our first year was full of failed experiments. 566 00:31:32,160 --> 00:31:34,280 Back then we didn't have funding. 567 00:31:34,360 --> 00:31:36,680 We regularly launched our product concept, 568 00:31:36,760 --> 00:31:40,280 ran tests on Facebook, and checked if people were ready to pay. 569 00:31:40,400 --> 00:31:42,120 We did a story-writing program 570 00:31:42,200 --> 00:31:43,480 and a painting program. 571 00:31:43,560 --> 00:31:46,360 We taught Sanskrit to people and solved their tech problems. 572 00:31:46,440 --> 00:31:47,880 Everything for 55 years and older. 573 00:31:48,400 --> 00:31:50,240 As we continued, we eventually moved towards wellness. 574 00:31:50,280 --> 00:31:53,960 We held an open Q&A session with a neurologist one day 575 00:31:54,040 --> 00:31:57,520 and it turned out to be our highest-attended session. 576 00:31:57,640 --> 00:32:00,000 Around 25 people showed up and we charged them. 577 00:32:00,080 --> 00:32:01,760 When we asked why they attended. 578 00:32:01,840 --> 00:32:03,800 They told us their memory was declining. 579 00:32:03,920 --> 00:32:04,840 "Why does this problem exist?" 580 00:32:04,840 --> 00:32:06,080 "I've seen it in my family." 581 00:32:06,120 --> 00:32:08,280 "I've seen a friend. We don't want it to happen to us." 582 00:32:08,520 --> 00:32:11,000 That's when we realised there was a need for this product. 583 00:32:19,080 --> 00:32:20,600 It meant there was a demand constraint. 584 00:32:20,640 --> 00:32:21,800 When we went a little deeper, 585 00:32:21,880 --> 00:32:24,240 we realised the West was more advanced than us at all this. 586 00:32:24,320 --> 00:32:26,280 They have cognitive testing, cognitive gaming, 587 00:32:26,360 --> 00:32:28,440 neuroscience assessments and others. 588 00:32:28,560 --> 00:32:30,560 This happens in India only on pen and paper. 589 00:32:30,840 --> 00:32:33,440 Then we realised we needed to head in this direction. 590 00:32:33,520 --> 00:32:34,680 So, this is for everyone. 591 00:32:34,760 --> 00:32:38,040 - You recommend this for anyone who is above 40 years old. - Yes. 592 00:32:38,120 --> 00:32:40,200 - Not just for those families. - What is this though? 593 00:32:40,280 --> 00:32:42,680 - Give us a demo. Let us understand in detail. - Yes, please. 594 00:32:43,240 --> 00:32:45,440 The moment you log in to the app, 595 00:32:45,560 --> 00:32:49,360 you'll see simple games, puzzles as well as brain workouts. 596 00:32:49,440 --> 00:32:53,840 We encourage users to first create a cognitive profile. 597 00:32:54,080 --> 00:32:58,200 There's a very simple test with five neuroscience-based games. 598 00:32:58,320 --> 00:33:00,200 In this game, you need to click 599 00:33:00,360 --> 00:33:02,440 on the biggest number or the biggest circle. 600 00:33:02,520 --> 00:33:04,640 However, the instructions constantly keep changing. 601 00:33:04,720 --> 00:33:07,720 It will measure your processing speed and accuracy. 602 00:33:07,800 --> 00:33:10,280 Let's make this simple game a little bit more complex. 603 00:33:10,360 --> 00:33:12,720 In this, the user has to use both their fingers 604 00:33:12,800 --> 00:33:14,400 to do two tasks at once. 605 00:33:14,480 --> 00:33:16,680 This measures their divided attention 606 00:33:16,760 --> 00:33:18,880 or their ability to multi-task. 607 00:33:19,280 --> 00:33:20,840 Once you finish the test, 608 00:33:20,920 --> 00:33:23,360 we'll tell you your actual age and cognitive age. 609 00:33:24,120 --> 00:33:25,240 - Oh, no! - And more importantly, 610 00:33:25,240 --> 00:33:28,320 we tell you which of your domains are doing well. 611 00:33:28,440 --> 00:33:29,560 This is the free app. 612 00:33:29,840 --> 00:33:32,920 Our paid product is an FDA-registered assessment 613 00:33:40,320 --> 00:33:41,640 - Just Q and A. - Self serve. 614 00:33:41,720 --> 00:33:42,800 No, not Q and A. This... 615 00:33:42,880 --> 00:33:43,960 The tests I showed you... 616 00:33:44,040 --> 00:33:46,680 - For Rs. 1,600 and Rs. 2,200. - Yes. 617 00:33:46,760 --> 00:33:48,200 That comes with 17 games 618 00:33:48,280 --> 00:33:49,960 and is preferred by working professionals. 619 00:33:50,040 --> 00:33:51,560 They don't need to speak to anyone. 620 00:33:51,640 --> 00:33:53,800 They see the report, understand it and are done. 621 00:33:54,720 --> 00:33:56,840 When do neuropsychologists come in the picture? 622 00:33:57,280 --> 00:33:59,560 We identified a demand among older people. 623 00:33:59,640 --> 00:34:02,200 They want to speak to a qualified neuro counsellor 624 00:34:02,320 --> 00:34:03,600 to help them interpret their results. 625 00:34:03,600 --> 00:34:05,440 - So, we currently have two SKUs. - Okay. 626 00:34:06,000 --> 00:34:08,920 Do you make your own native games or hire a third-party publisher? 627 00:34:09,000 --> 00:34:10,120 We're both MBA graduates. 628 00:34:10,240 --> 00:34:12,480 If we had to offer a complete gaming solution, 629 00:34:12,560 --> 00:34:15,040 we'd have taken a couple of million dollars and a lot of time. 630 00:34:15,120 --> 00:34:16,120 Here's what we did. 631 00:34:16,200 --> 00:34:17,360 We engaged with a partner 632 00:34:17,440 --> 00:34:19,120 who is renowned for creating 633 00:34:19,200 --> 00:34:21,160 neuroscience-based games and assessments. 634 00:34:21,320 --> 00:34:22,800 The name of the partner is CogniFit. 635 00:34:22,880 --> 00:34:24,640 They have an FDA-registered assessment. 636 00:34:24,720 --> 00:34:25,720 Do you pay them? 637 00:34:26,320 --> 00:34:29,040 We made a free deal with them in the first year, 638 00:34:29,120 --> 00:34:31,400 but going forward, we've to give them a license fee. 639 00:34:31,480 --> 00:34:33,000 So, the games are theirs. 640 00:34:33,360 --> 00:34:34,840 No, there are three types of games. 641 00:34:34,920 --> 00:34:38,240 One is assessments which measures specific skills, 642 00:34:38,320 --> 00:34:39,320 which is theirs. 643 00:34:39,600 --> 00:34:42,200 Then we have free playing games. 644 00:34:42,280 --> 00:34:44,200 We have about 50 games 645 00:34:44,320 --> 00:34:48,120 out of which we bought and customised around 12 games 646 00:34:48,240 --> 00:34:50,120 and currently offer them, 647 00:34:50,200 --> 00:34:52,120 which are lesser cognitively inclined 648 00:34:52,200 --> 00:34:54,040 - but also neuroscience calibrated. - Alright. 649 00:34:54,200 --> 00:34:55,920 The other games which... Um... 650 00:34:56,000 --> 00:34:57,440 We have actually borrowed it from them 651 00:34:57,480 --> 00:34:59,560 to start testing which game does better. 652 00:34:59,640 --> 00:35:02,120 - On the basis... - So, more or less, all the content is theirs. 653 00:35:03,200 --> 00:35:04,560 - That... - 70%. 654 00:35:04,640 --> 00:35:06,440 - 70% is currently theirs. - Yes. 655 00:35:15,160 --> 00:35:18,320 After that, you could have another monetisation stream 656 00:35:18,400 --> 00:35:21,560 where you can offer classes to people who want to improve. 657 00:35:21,640 --> 00:35:24,080 Or you can offer a marketplace for products. 658 00:35:24,360 --> 00:35:26,600 Why didn't you offer services 659 00:35:26,880 --> 00:35:29,720 and products post the assessment? 660 00:35:30,000 --> 00:35:33,680 That's phase two which is underway and it'll launch in February. 661 00:35:33,800 --> 00:35:35,680 - So, that is in the plan! - That's in the plan. 662 00:35:35,800 --> 00:35:36,800 Good. 663 00:35:37,080 --> 00:35:39,200 Do you have a live case 664 00:35:39,320 --> 00:35:41,360 who you might have helped or someone who might've benefitted? 665 00:35:41,400 --> 00:35:43,800 Yes, we do. Nowadays, people complain they forget things. 666 00:35:43,960 --> 00:35:45,800 Our counsellor probed them. 667 00:35:46,680 --> 00:35:49,280 They said, "Actually, the last time my daughter visited," 668 00:35:49,280 --> 00:35:50,760 "I could not recognise her." 669 00:35:50,840 --> 00:35:52,640 That is the strongest sign. 670 00:35:52,720 --> 00:35:53,760 - Of Alzheimer's. - I mean, 671 00:35:53,760 --> 00:35:55,960 that is one of our proudest accomplishments 672 00:35:56,040 --> 00:35:57,880 that we were able to immediately send them to... 673 00:35:57,960 --> 00:36:00,120 - He happened to casually mention it. - Oh! 674 00:36:00,200 --> 00:36:03,240 And these are the kind of things people wait for until the end. 675 00:36:03,320 --> 00:36:05,600 And we've had three such extreme cases. 676 00:36:05,680 --> 00:36:08,280 Out of the 150 customers that we have paid-serve, 677 00:36:08,360 --> 00:36:09,560 we've sent three of them 678 00:36:09,800 --> 00:36:15,240 on a purely clinical, neurological, radio-imaging pathology path. 679 00:36:16,720 --> 00:36:18,960 - Just by looking at your app... - Yes? 680 00:36:19,840 --> 00:36:21,360 No one can say what you're into. 681 00:36:22,000 --> 00:36:24,480 Have a tagline or you should... 682 00:36:24,560 --> 00:36:27,400 Actually, I thought this was an edtech app for kids. 683 00:36:27,480 --> 00:36:29,160 - No, we take that feedback on board. - Yes. 684 00:36:29,160 --> 00:36:30,280 These are early days for us. 685 00:36:30,320 --> 00:36:31,400 When was your app launched? 686 00:36:31,560 --> 00:36:33,440 - May. May 2024. - Okay. 687 00:36:38,440 --> 00:36:39,880 There is a set of brain training apps 688 00:36:39,920 --> 00:36:42,120 which you must have heard of. Lumosity, Peak and others. 689 00:36:42,240 --> 00:36:43,400 Those are brain training apps. 690 00:36:43,440 --> 00:36:46,320 Their target segment is people between 15 to 35 years 691 00:36:46,400 --> 00:36:48,560 which are more productivity-oriented audiences. 692 00:36:48,720 --> 00:36:50,440 Our thesis is 693 00:36:50,520 --> 00:36:52,240 that we use brain training as a means 694 00:36:52,400 --> 00:36:54,800 and as a support to enhance your cognitive abilities. 695 00:36:54,880 --> 00:36:57,840 Typically, our target customer starts from 35 itself. 696 00:36:58,120 --> 00:36:59,280 Let's talk about business. 697 00:36:59,360 --> 00:37:01,200 What's your scale and what were your revenues? 698 00:37:08,800 --> 00:37:11,120 The average time spent is 10 minutes. 699 00:37:30,800 --> 00:37:32,560 It is 500-600 on average. 700 00:37:32,640 --> 00:37:34,960 It is basically 13-14% currently. 701 00:37:35,040 --> 00:37:36,240 One thing, Vineeta. 702 00:37:36,320 --> 00:37:40,600 Our app is not a daily use app as per our recommendation itself. 703 00:37:40,840 --> 00:37:43,560 - Do the training three times a week. - Brain workout. 704 00:37:57,160 --> 00:37:59,200 we actually had about over 1,000 downloads. 705 00:38:10,360 --> 00:38:11,200 - Other than that... - Yes. 706 00:38:11,280 --> 00:38:13,280 We're in conversation with diagnostic chains 707 00:38:13,400 --> 00:38:16,560 where our app can actually have a completely complimentary offering 708 00:38:16,640 --> 00:38:18,400 to all their other annual health check-ups. 709 00:38:18,520 --> 00:38:22,000 We have an LOI from a hospital chain from North India 710 00:38:27,320 --> 00:38:29,440 Right now, we only have a few. 711 00:38:29,600 --> 00:38:30,880 - How many? - Because... Three. 712 00:38:31,320 --> 00:38:32,600 That's too less. 713 00:38:33,160 --> 00:38:36,600 We're not making it too neuroscience and health-related 714 00:38:36,720 --> 00:38:39,160 as we want to keep the problem very relatable. 715 00:38:39,240 --> 00:38:40,240 We want them to... 716 00:38:40,480 --> 00:38:42,400 They should not think twice before coming to this app. 717 00:38:42,440 --> 00:38:44,840 No one will download the app on their own and play this game. 718 00:38:44,880 --> 00:38:46,280 How will they look for you? 719 00:38:46,560 --> 00:38:49,400 Focus puzzles, attention puzzles, memory games... 720 00:38:49,480 --> 00:38:52,320 People search for all this on the Play Store or App Store nowadays. 721 00:38:52,400 --> 00:38:54,280 I'm sure to check this... 722 00:38:54,800 --> 00:38:58,680 Hospitals and preventive healthcare professionals 723 00:38:58,920 --> 00:39:01,480 - must have a mechanism to check it. - They don't. 724 00:39:01,600 --> 00:39:03,360 They must be checking it before even playing your game. 725 00:39:03,400 --> 00:39:04,920 That happens in the West, Aman. 726 00:39:05,000 --> 00:39:06,600 In India, it happens on pen and paper. 727 00:39:06,680 --> 00:39:08,480 - What do you mean? - Are you saying 728 00:39:08,560 --> 00:39:11,120 no one else in India does this kind of computer testing? 729 00:39:11,200 --> 00:39:13,040 - On the app. - As of today, no. 730 00:39:13,120 --> 00:39:14,600 In the private world, no. 731 00:39:14,880 --> 00:39:16,800 There are NIMHANS and ICMR 732 00:39:16,880 --> 00:39:18,320 but who's downloading them? 733 00:39:18,400 --> 00:39:19,720 - No one is. - And yours either! 734 00:39:20,520 --> 00:39:23,040 Today, we've got over 5,000 cognitive profiles. 735 00:39:23,120 --> 00:39:25,360 Aman, I can tell you this is more than the data 736 00:39:25,440 --> 00:39:29,240 that IIT Mumbai, NIMHANS and others have on digital set. 737 00:39:29,320 --> 00:39:31,640 - If you detect them... - Yes. 738 00:39:31,720 --> 00:39:34,080 The doctors will start their work. 739 00:39:34,160 --> 00:39:36,160 It'll be gone from your app. 740 00:39:36,800 --> 00:39:38,160 Let me answer this clinically. 741 00:39:38,240 --> 00:39:39,760 Dementia has seven stages. 742 00:39:40,320 --> 00:39:43,720 If you use our app for the first, second and third stages of dementia, 743 00:39:43,840 --> 00:39:44,920 then there's a good chance 744 00:39:45,000 --> 00:39:47,560 that Ivory can actually be a partner in that journey. 745 00:39:47,680 --> 00:39:50,040 Of course, if you're in stages four to seven, 746 00:39:50,160 --> 00:39:51,600 then Ivory is not the solution for you. 747 00:39:51,640 --> 00:39:53,200 No other app is the solution for you. 748 00:39:53,280 --> 00:39:55,840 - We... - I'm saying I will not come back to the app. 749 00:39:56,400 --> 00:40:00,080 I'm saying that once detected, I'll do only what the doctor says. 750 00:40:00,800 --> 00:40:02,080 Non-Ivory world scenario. 751 00:40:02,520 --> 00:40:04,560 The doctor visits after six months for a check-up 752 00:40:04,640 --> 00:40:06,200 and asks you, "What all did you do?" 753 00:40:06,280 --> 00:40:07,160 There is no way 754 00:40:07,240 --> 00:40:09,120 the neuropsychologist can actually monitor 755 00:40:09,200 --> 00:40:10,760 what he did in the last six months. 756 00:40:10,840 --> 00:40:12,080 The caregivers aren't able to say 757 00:40:12,120 --> 00:40:14,000 if the parents went for a walk or not. 758 00:40:14,840 --> 00:40:15,680 Understood. 759 00:40:15,800 --> 00:40:17,000 Issac and Rahul! 760 00:40:17,480 --> 00:40:21,120 I think in this business, on the spectrum, 761 00:40:21,480 --> 00:40:23,600 either you're too early 762 00:40:24,080 --> 00:40:28,000 or the product-market fit is lacking. 763 00:40:28,840 --> 00:40:31,360 Like your DAU to MAU ratio which is 10% 764 00:40:31,600 --> 00:40:33,440 should be at least 30%. 765 00:40:33,600 --> 00:40:36,200 - Then it will seem like those who need it... - Fair. 766 00:40:36,400 --> 00:40:38,000 They are coming regularly. 767 00:40:38,080 --> 00:40:39,080 Absolutely. 768 00:40:39,080 --> 00:40:42,360 Neither the effectiveness nor the monetisation is clear 769 00:40:42,440 --> 00:40:44,160 as the business is only six months old. 770 00:40:44,280 --> 00:40:46,880 However, the purpose of the business is very noble. 771 00:40:46,960 --> 00:40:50,440 My parents, thankfully, are healthy in mind and body 772 00:40:50,680 --> 00:40:53,000 but I will have them download your app 773 00:40:53,080 --> 00:40:54,160 and see where 774 00:40:54,240 --> 00:40:56,480 their cognitive abilities are currently at. 775 00:40:56,680 --> 00:40:59,440 I will track you and I hope you do really well. 776 00:40:59,600 --> 00:41:02,480 - Today, I'm out. All the best. - Thank you, Kunal. 777 00:41:02,560 --> 00:41:05,120 There was Isaac Newton who made a name in science 778 00:41:05,240 --> 00:41:06,800 but you'll make it in neuroscience. 779 00:41:06,880 --> 00:41:08,160 Well said! 780 00:41:08,280 --> 00:41:09,800 - Well said! - [laughter] 781 00:41:11,080 --> 00:41:12,440 It's good. The line is good. 782 00:41:12,520 --> 00:41:13,720 - Thank you. - It's different. 783 00:41:13,840 --> 00:41:15,640 I feel the biggest problem is, 784 00:41:15,720 --> 00:41:19,560 once the assessment is done, they don't part with the money. 785 00:41:19,760 --> 00:41:21,080 [tense music playing] 786 00:41:22,400 --> 00:41:24,960 You said you just began with the monetisation. 787 00:41:25,080 --> 00:41:27,720 Whether you do it now, earlier or did it two months ago... 788 00:41:27,800 --> 00:41:28,960 I don't know when you did it, 789 00:41:29,000 --> 00:41:30,200 but no matter when you do it, 790 00:41:30,280 --> 00:41:32,560 you'll see that people don't want to pay. 791 00:41:34,160 --> 00:41:35,280 Unfortunately, in India, 792 00:41:35,360 --> 00:41:37,560 monetisation in this line looks a bit tough. 793 00:41:37,680 --> 00:41:38,880 My second problem is 794 00:41:39,040 --> 00:41:40,960 the over-dependency on the foreign company. 795 00:41:41,240 --> 00:41:42,640 Make a few games yourself. 796 00:41:42,800 --> 00:41:44,800 If they ask for Rs. 1 lakh instead of Rs. 25,000, 797 00:41:44,880 --> 00:41:45,720 you'll have to give it 798 00:41:45,800 --> 00:41:47,200 - as you don't have an option. - Yes. 799 00:41:47,240 --> 00:41:48,880 You're overdependent on their games. 800 00:41:49,000 --> 00:41:52,200 Prove the monetisation because it's really tough 801 00:41:52,440 --> 00:41:53,440 and change this. 802 00:41:53,520 --> 00:41:55,200 Unfortunately, I'm out for now. 803 00:41:55,360 --> 00:41:56,800 Thank you. You've been kind to us. 804 00:41:56,880 --> 00:41:59,840 In this business, the success isn't in the result, 805 00:41:59,920 --> 00:42:01,320 but in the endeavour. 806 00:42:01,920 --> 00:42:03,520 So, you must persevere. 807 00:42:03,720 --> 00:42:04,640 I believe that 808 00:42:04,720 --> 00:42:08,840 you need to deprioritise your gaming experience. 809 00:42:09,920 --> 00:42:12,920 - You have no right to win there. - Hmm. 810 00:42:13,120 --> 00:42:15,200 - Many games exist in the market. - Hmm. 811 00:42:15,440 --> 00:42:19,600 You need to go headfirst into assessments 812 00:42:19,680 --> 00:42:21,720 because as you said, no one's in that market. 813 00:42:22,680 --> 00:42:24,960 If you wish to keep the gaming for engagement, go ahead. 814 00:42:25,040 --> 00:42:27,960 If it is a success, I won't charge you any royalty. 815 00:42:28,040 --> 00:42:29,040 [laughs] 816 00:42:29,160 --> 00:42:32,280 I'll join you in the valuation of the next round. No problem. 817 00:42:32,840 --> 00:42:34,000 And like to support you. 818 00:42:34,080 --> 00:42:35,480 Today, I am out. 819 00:42:36,040 --> 00:42:37,040 Sure. 820 00:42:37,160 --> 00:42:38,960 A lot of investors would do this to me. 821 00:42:39,040 --> 00:42:41,880 They'd say, "If you change your model to x..." 822 00:42:41,960 --> 00:42:44,680 "I don't like what you're making," 823 00:42:44,800 --> 00:42:47,120 "but if you switch to that, I'll surely invest." 824 00:42:47,240 --> 00:42:49,720 And then, you never go back to that investor. 825 00:42:49,800 --> 00:42:51,120 [all laugh] 826 00:42:51,320 --> 00:42:52,760 I'll come find you. 827 00:42:53,120 --> 00:42:55,360 Look. The awareness is so high. 828 00:42:55,440 --> 00:42:58,640 People undergo regular tests concerned with their biological age. 829 00:42:58,720 --> 00:43:01,120 - Cognitive age is just the next thing. - Hmm. 830 00:43:01,240 --> 00:43:02,760 And if you see, 831 00:43:02,840 --> 00:43:04,080 this is an above-40 product 832 00:43:04,160 --> 00:43:06,840 but we all said we'll get our parents to do the test. 833 00:43:08,680 --> 00:43:10,560 We won't do it because this won't happen to us. 834 00:43:10,720 --> 00:43:12,560 It will, but after 30 years. 835 00:43:14,200 --> 00:43:15,800 This is a global problem, 836 00:43:16,000 --> 00:43:19,240 and whatever the global solution to it, 837 00:43:19,360 --> 00:43:21,280 that might be a competition for you. 838 00:43:22,960 --> 00:43:25,000 As this is early, for that reason I'm out. 839 00:43:25,080 --> 00:43:26,080 - Best of luck. - Yes. 840 00:43:27,520 --> 00:43:28,760 Issac and Rahul! 841 00:43:29,400 --> 00:43:33,640 How would you rate your pitch? 842 00:43:34,000 --> 00:43:35,000 Was it a good pitch? 843 00:43:36,880 --> 00:43:38,840 - I would say... - Four Sharks are out. 844 00:43:40,000 --> 00:43:41,000 What do you think? 845 00:43:41,120 --> 00:43:42,040 See, we did our best. 846 00:43:42,120 --> 00:43:44,520 We told you everything very honestly. 847 00:43:44,600 --> 00:43:48,520 - Look, all of us here are Sharks. - Yes. 848 00:43:48,640 --> 00:43:50,760 What do Sharks care about the most? 849 00:43:51,200 --> 00:43:53,160 - The path to monetisation. - Sure. 850 00:43:53,240 --> 00:43:56,440 - Right? Your phase two... - Yes. 851 00:43:56,520 --> 00:43:57,880 It should have been storytelling. 852 00:43:58,600 --> 00:44:01,680 "We'll go to diagnostics. We'll acquire customers." 853 00:44:01,760 --> 00:44:04,640 "We'll partner with eldercare people like Emoha and all" 854 00:44:04,720 --> 00:44:05,880 "and we'll get customers." 855 00:44:06,080 --> 00:44:08,440 "We'll get them to do these assessments." 856 00:44:08,520 --> 00:44:10,880 "They'll think, "Oh my God! My score is so low." 857 00:44:11,160 --> 00:44:13,040 "Then they'll meet a neuropsychologist." 858 00:44:13,120 --> 00:44:14,880 "Then we'll provide them a solution." 859 00:44:14,960 --> 00:44:16,960 "Online meditation classes," 860 00:44:17,080 --> 00:44:19,920 "online group classes for language learning," 861 00:44:20,000 --> 00:44:21,000 "also medication." 862 00:44:21,040 --> 00:44:22,840 - There are a lot of supplements. - Yes. 863 00:44:23,840 --> 00:44:27,120 And then the third monetisation, like you mentioned, clinical trials. 864 00:44:27,240 --> 00:44:30,720 The second part about monetisation, 865 00:44:31,000 --> 00:44:35,040 Had you elaborated it in detail 866 00:44:35,120 --> 00:44:37,920 and highlighted its potential, 867 00:44:38,240 --> 00:44:41,200 then people wouldn't be so stuck on the pre-revenue part, 868 00:44:41,560 --> 00:44:43,120 - which you currently are. - Sure. 869 00:44:44,240 --> 00:44:46,280 My mind says... Even though I'm a healthcare expert, 870 00:44:46,360 --> 00:44:48,480 my mind says I'm out, 871 00:44:49,040 --> 00:44:50,880 but you know, to me... 872 00:44:50,960 --> 00:44:52,640 I was very sad for a while in between. 873 00:44:53,200 --> 00:44:54,800 This is an extremely personal issue for me. 874 00:44:54,840 --> 00:44:58,400 A very close relative of mine is in her early sixties. 875 00:44:58,800 --> 00:45:02,160 And I just thought of her and almost teared up 876 00:45:02,240 --> 00:45:03,240 because 877 00:45:04,320 --> 00:45:06,320 she has early Alzheimer's. 878 00:45:16,080 --> 00:45:17,440 [poignant music playing] 879 00:45:20,560 --> 00:45:24,680 And you know, I have some of my best memories with her. 880 00:45:24,960 --> 00:45:26,600 To think that she can forget me... 881 00:45:27,880 --> 00:45:29,400 [poignant music playing] 882 00:45:31,720 --> 00:45:33,680 It is very personal for me. 883 00:45:33,760 --> 00:45:35,280 So, I'm going to take a bet on you. 884 00:45:35,480 --> 00:45:36,600 - Thank you. - Thank you. 885 00:45:40,960 --> 00:45:43,000 Okay! And this is for her. 886 00:45:43,560 --> 00:45:44,960 Oh, we have to make this work. 887 00:45:45,280 --> 00:45:46,560 Okay, we will. 888 00:45:48,480 --> 00:45:51,000 I'm willing to give you Rs. 50 lakhs for 5% equity. 889 00:45:59,520 --> 00:46:03,640 Can we take that Rs. 50 lakhs to Rs. 1 crore for 5% equity? 890 00:46:05,200 --> 00:46:06,480 [tense music playing] 891 00:46:11,400 --> 00:46:13,920 Issac and Rahul, four Sharks are out. 892 00:46:14,560 --> 00:46:15,600 I was out too. 893 00:46:18,320 --> 00:46:19,640 I'm being very honest with you. 894 00:46:20,720 --> 00:46:22,000 It requires a lot of work. 895 00:46:22,800 --> 00:46:25,360 Be it the logo, monetisation, 896 00:46:25,640 --> 00:46:28,480 figuring out the right games, on-boarding... 897 00:46:28,560 --> 00:46:29,720 I mean, I can go on and on. 898 00:46:31,040 --> 00:46:32,640 [tense music playing] 899 00:46:39,960 --> 00:46:40,880 [music concludes] 900 00:46:40,960 --> 00:46:41,760 - Yes. - Done! 901 00:46:41,840 --> 00:46:42,840 - Let's take it. - Lovely. 902 00:46:52,400 --> 00:46:53,720 So, thank you for taking this up. 903 00:46:53,840 --> 00:46:55,320 - Thank you. - Thank you for this. 904 00:46:56,440 --> 00:46:57,440 [camera shutter clicking] 905 00:47:00,720 --> 00:47:02,200 [music fades out] 906 00:47:03,280 --> 00:47:04,880 [up-tempo music playing] 907 00:47:09,640 --> 00:47:10,840 [music concludes] 908 00:47:11,400 --> 00:47:14,120 Welcome to ACKO Change Makers where we really welcome change. 909 00:47:14,440 --> 00:47:17,840 You can see a beautiful portrayal of it on our Change Makers wall. 910 00:47:18,080 --> 00:47:20,200 Through modern advancements and smart techniques, 911 00:47:20,280 --> 00:47:21,720 we're empowering change 912 00:47:21,960 --> 00:47:24,560 and today's Change Makers are Issac and Rahul. 913 00:47:24,840 --> 00:47:26,440 - How are you? - Very good. 914 00:47:26,520 --> 00:47:28,080 - Good? How was the experience? - Yes. 915 00:47:28,200 --> 00:47:30,880 It was quite different than what he and I are used to. 916 00:47:30,960 --> 00:47:32,800 Normally, our pitches are closed-room. 917 00:47:32,880 --> 00:47:34,480 So, this was quite different. 918 00:47:38,400 --> 00:47:41,800 - The conversation went in a totally different direction... - Yes. 919 00:47:41,880 --> 00:47:43,200 Than what we had expected. 920 00:47:43,280 --> 00:47:45,360 But it was obviously a great experience. 921 00:47:45,440 --> 00:47:46,760 You're doing a great job 922 00:47:46,840 --> 00:47:50,640 by helping in the early detection of cognitive impairments 923 00:47:50,720 --> 00:47:53,760 using game solutions and smart techniques. 924 00:47:53,880 --> 00:47:55,200 It's a very good step. 925 00:47:55,320 --> 00:47:57,120 We appreciate the change that you're bringing. 926 00:47:57,200 --> 00:48:00,040 I wish to ask a question on behalf of our audience. 927 00:48:00,120 --> 00:48:02,440 What changes could they bring about in their daily lives 928 00:48:02,520 --> 00:48:05,120 to better their cognitive health? 929 00:48:05,200 --> 00:48:08,400 Cognitive health doesn't comprise brain training alone. 930 00:48:08,520 --> 00:48:11,600 It is also about looking after your physical health, 931 00:48:11,760 --> 00:48:14,160 maintaining your sleep and stress management 932 00:48:14,240 --> 00:48:17,160 and simultaneously building your cognitive reserve. 933 00:48:17,280 --> 00:48:18,840 Cognitive reserve can be built 934 00:48:19,000 --> 00:48:21,480 by playing games or learning new things. 935 00:48:21,560 --> 00:48:23,440 It's a mixture of these four things. 936 00:48:23,600 --> 00:48:26,280 If they want an immediate start, 937 00:48:26,360 --> 00:48:28,560 they can go on Ivory app and make a fresh start. 938 00:48:28,640 --> 00:48:29,960 Hundred percent. Why not? 939 00:48:30,080 --> 00:48:31,440 Thank you so much for that answer. 940 00:48:31,480 --> 00:48:33,360 You're bringing about a great change 941 00:48:34,120 --> 00:48:36,800 just as ACKO, with its revolutionary offerings, 942 00:48:36,880 --> 00:48:38,320 is changing the insurance landscape. 943 00:48:38,400 --> 00:48:40,280 Now, stop dealing with unknown agents. 944 00:48:40,440 --> 00:48:41,640 Know your insurer. 945 00:48:41,720 --> 00:48:42,880 Have faith in ACKO, 946 00:48:43,040 --> 00:48:44,840 the trusted choice of lakhs of Indians. 947 00:48:44,920 --> 00:48:47,240 They've settled over 3 lakh car claims. 948 00:48:47,360 --> 00:48:48,960 We appreciate your change. 949 00:48:49,080 --> 00:48:51,240 And for your time on the show, 950 00:48:51,320 --> 00:48:54,320 Shark Tank and ACKO wish to give you a gift. 951 00:48:54,520 --> 00:48:55,640 - Thank you. - Thank you. 952 00:48:58,720 --> 00:48:59,800 [camera shutter clicking] 953 00:49:01,280 --> 00:49:04,200 'Shark Tank India co-presented by ACKO Insurance,' 954 00:49:04,280 --> 00:49:06,360 'PokerBaazi and Swiggy Instamart.' 955 00:49:06,440 --> 00:49:09,080 'Co-powered by Adani and Jaquar Bath & Light.' 956 00:49:09,160 --> 00:49:13,120 'Partners Rayzon Solar, ICICI Direct and Lenskart.' 957 00:49:14,280 --> 00:49:16,200 There's tiramisu for lunch today! 958 00:49:16,400 --> 00:49:17,400 And what else? 959 00:49:17,520 --> 00:49:18,520 Butter Chicken! 960 00:49:18,760 --> 00:49:19,760 Butter Chicken! 961 00:49:19,800 --> 00:49:21,240 - My favourite. - Wow. 962 00:49:21,360 --> 00:49:23,360 Butter Chicken! Oh, like Aman. 963 00:49:23,440 --> 00:49:24,280 - Both of you. - Punjabi. 964 00:49:24,360 --> 00:49:26,280 Butter Chicken, bro. Butter Chicken bros! 965 00:49:27,440 --> 00:49:29,080 [theme music playing] 966 00:50:01,800 --> 00:50:03,320 [theme music concludes] 967 00:50:03,560 --> 00:50:06,360 Sharks, there are three groups at every party. 968 00:50:06,560 --> 00:50:08,160 One is the group that loves to dance. 969 00:50:08,240 --> 00:50:10,240 The second loves to take selfies 970 00:50:10,360 --> 00:50:12,360 and the third and the most important one, 971 00:50:12,480 --> 00:50:13,720 is the group that loves to eat. 972 00:50:14,200 --> 00:50:17,200 The only thing they care about at a party is the food. 973 00:50:17,800 --> 00:50:19,240 If the food rocks, so does the party 974 00:50:19,320 --> 00:50:21,640 but if the food's bad, then so is the party! 975 00:50:21,760 --> 00:50:23,200 And the discussion on food 976 00:50:23,280 --> 00:50:26,080 has been going on in my family for the last 76 years. 977 00:50:26,360 --> 00:50:27,440 So, it's safe to say 978 00:50:27,520 --> 00:50:29,520 that a little Dal Makhani runs in my blood! 979 00:50:29,640 --> 00:50:31,160 [all laugh] 980 00:50:31,760 --> 00:50:33,240 Sharks, we understand 981 00:50:33,320 --> 00:50:36,160 that food is the life of every party and gathering. 982 00:50:36,320 --> 00:50:37,840 However, we also understand 983 00:50:37,960 --> 00:50:39,880 that for casual occasions, 984 00:50:39,960 --> 00:50:42,880 for instance cooking for a get-together of 20 guests 985 00:50:43,000 --> 00:50:46,760 leaves the host drained trying to honour everyone's preferences. 986 00:50:46,920 --> 00:50:48,840 Either they cook in the kitchen themselves 987 00:50:48,920 --> 00:50:50,720 or order food online 988 00:50:50,840 --> 00:50:53,920 and serve their guests cold and soggy food. 989 00:50:54,280 --> 00:50:55,840 If you decide to hire a caterer, 990 00:50:56,000 --> 00:50:57,760 they sever ties with their friends 991 00:50:57,840 --> 00:50:59,440 after listening to the rate per plate! 992 00:51:00,040 --> 00:51:02,120 We won't let them end their friendship so easily. 993 00:51:02,240 --> 00:51:04,440 So, we bring to you The House Party by Savar. 994 00:51:11,280 --> 00:51:14,200 The House Party by Savar is a luxury catering company 995 00:51:19,560 --> 00:51:21,320 Savar, these people must be wondering, 996 00:51:21,400 --> 00:51:23,480 - what's so special about us? - Correct. 997 00:51:23,560 --> 00:51:26,760 The House Party by Savar is a tech-enabled food company 998 00:51:26,880 --> 00:51:30,600 where all the orders are processed through our backend dashboard. 999 00:51:30,720 --> 00:51:33,120 And here, you can customise everything. 1000 00:51:35,400 --> 00:51:36,960 Starters, main course, cutlery, crockery, 1001 00:51:37,000 --> 00:51:38,640 chafing dishes, glassware, waiters, kitchen staff, 1002 00:51:38,640 --> 00:51:40,680 live counters and grazing setups. 1003 00:51:40,760 --> 00:51:41,600 [Sharks laugh] 1004 00:51:41,680 --> 00:51:42,680 Everything! 1005 00:51:42,880 --> 00:51:45,040 Savar, what if someone doesn't need all this 1006 00:51:45,160 --> 00:51:47,840 and only needs food and waiters? 1007 00:51:56,600 --> 00:52:00,680 We only charge according to the quantity of food and services. 1008 00:52:00,800 --> 00:52:03,000 Sharks, we're part of the group that loves food. 1009 00:52:04,480 --> 00:52:06,280 Till today, The House Party 1010 00:52:15,400 --> 00:52:18,600 by catering to over 20 parties a day across cities. 1011 00:52:18,920 --> 00:52:22,960 Sharks, we want to make The House Party a pan-India brand 1012 00:52:23,040 --> 00:52:24,560 for which our ask is 1013 00:52:24,720 --> 00:52:27,400 Rs. 1 crore for 5% equity in our company. 1014 00:52:31,920 --> 00:52:34,240 Your Shark Tank house party is now ready. 1015 00:52:34,880 --> 00:52:35,720 Can we dig in? 1016 00:52:35,800 --> 00:52:38,240 - Yes, please. - Let me welcome them first, Mr. Glutton! 1017 00:52:39,400 --> 00:52:40,760 The food will turn cold, please. 1018 00:52:40,880 --> 00:52:42,400 Okay, all right. 1019 00:52:43,440 --> 00:52:46,800 It's nice to meet you and nicer to see Butter Chicken! 1020 00:52:48,600 --> 00:52:49,960 Are the recipes yours? 1021 00:52:50,320 --> 00:52:52,560 - Yes, my grandfather's. - Savar. 1022 00:52:52,680 --> 00:52:54,240 This is normal. What's special about it? 1023 00:52:54,520 --> 00:52:56,360 This is another brand of ours Num Yum. 1024 00:52:56,440 --> 00:52:57,520 This is a nibble platter. 1025 00:52:59,720 --> 00:53:00,880 Smells very good. 1026 00:53:04,240 --> 00:53:06,120 - The paneer... - Yes. 1027 00:53:06,200 --> 00:53:08,320 - I love the paneer. - Thank you. 1028 00:53:08,400 --> 00:53:09,800 What paratha is this? 1029 00:53:10,080 --> 00:53:11,280 Malabari Parantha. 1030 00:53:11,360 --> 00:53:12,400 It's delicious. 1031 00:53:12,680 --> 00:53:14,080 [light-hearted music playing] 1032 00:53:20,720 --> 00:53:23,120 Either the food's delicious or we're famished. Which one? 1033 00:53:23,200 --> 00:53:24,240 The food is delicious. 1034 00:53:24,320 --> 00:53:25,400 [laughs] 1035 00:53:27,000 --> 00:53:29,800 I was the only glutton earlier. Then Kunal joined the Tank. 1036 00:53:30,800 --> 00:53:31,800 Guys, this... 1037 00:53:32,000 --> 00:53:33,520 Nobody took the Martban Meat... 1038 00:53:33,600 --> 00:53:35,280 I guess you didn't, Aman. 1039 00:53:35,400 --> 00:53:36,720 It is outstanding. 1040 00:53:36,800 --> 00:53:38,880 It's our favourite too. Thank you so much. 1041 00:53:38,960 --> 00:53:42,600 If you order this combination, generally, it's very spicy. 1042 00:53:42,920 --> 00:53:44,120 This is a good balance. 1043 00:53:45,520 --> 00:53:47,120 Tiramisu is my favourite dessert. 1044 00:53:47,240 --> 00:53:49,080 I would rate it 8 on 10. 1045 00:53:49,160 --> 00:53:50,760 - It's okay, he's grumpy. - It is good. 1046 00:53:50,840 --> 00:53:52,880 The world's 10 on 10 is his 8 on 10. 1047 00:53:52,960 --> 00:53:54,040 Yes! "He's grumpy!" 1048 00:53:56,200 --> 00:53:59,480 - Anyway, Savar and Tanisha, right? - Yes. 1049 00:53:59,520 --> 00:54:02,240 - You mentioned your family is in this business. - Correct. 1050 00:54:02,360 --> 00:54:05,520 I'm assuming that must have been your inspiration. 1051 00:54:05,600 --> 00:54:06,960 So, tell us about that. 1052 00:54:07,080 --> 00:54:08,360 I was born and brought up in Delhi. 1053 00:54:08,400 --> 00:54:10,280 - I studied in Modern School. - Okay. 1054 00:54:16,520 --> 00:54:18,920 - I joined my family business which is of restaurants. - Hmm. 1055 00:54:18,960 --> 00:54:21,480 - My grandfather started it... - Wow! 1056 00:54:21,600 --> 00:54:24,120 - In Connaught Place in Delhi. - What's the name? 1057 00:54:24,200 --> 00:54:25,120 - The Embassy Restaurant. - Embassy... 1058 00:54:25,200 --> 00:54:26,880 Oh, my! That's amazing. 1059 00:54:28,040 --> 00:54:29,680 - Num Yum is yours. - Yes. 1060 00:54:29,760 --> 00:54:31,240 - So is Embassy. - Hmm. 1061 00:54:31,320 --> 00:54:32,760 THP by Savar is yours too. 1062 00:54:32,880 --> 00:54:36,400 So, right now, you're here only for THP. 1063 00:54:36,480 --> 00:54:38,040 - THP and Num Yum. - Yes and Num Yum. 1064 00:54:39,080 --> 00:54:41,160 This is under the same umbrella. 1065 00:54:41,240 --> 00:54:44,040 Num Yum is just additional boxes that we launched. 1066 00:54:44,160 --> 00:54:46,120 Again, where you can't reheat 1067 00:54:46,200 --> 00:54:47,840 and need to serve the food right away, 1068 00:54:51,600 --> 00:54:53,920 Enlighten us on the differentiation. 1069 00:54:54,000 --> 00:54:57,720 I personally know at least 10 people in Delhi who are doing this. 1070 00:54:57,800 --> 00:54:59,160 Everybody's food is good. 1071 00:54:59,240 --> 00:55:00,960 What's your differentiation? 1072 00:55:01,600 --> 00:55:04,000 The main factors are your price points, 1073 00:55:04,280 --> 00:55:06,000 services and trust. 1074 00:55:06,160 --> 00:55:09,520 And when I lend my name to it and also give the recipes, 1075 00:55:09,800 --> 00:55:11,920 I intend that it should sell. 1076 00:55:12,040 --> 00:55:13,280 What's special about your name? 1077 00:55:13,400 --> 00:55:14,680 If you know Embassy, 1078 00:55:14,760 --> 00:55:16,320 - I am... - It's Savar's, not Embassy's. 1079 00:55:16,480 --> 00:55:18,600 Yes, but it co-relates. 1080 00:55:18,920 --> 00:55:22,880 Fine, I feel by lending your name to your company's logo, 1081 00:55:22,960 --> 00:55:24,360 you're upholding a tradition. 1082 00:55:24,440 --> 00:55:27,840 But how is he upholding a tradition if the tradition is not there yet? 1083 00:55:28,720 --> 00:55:29,800 We'll get to that, Aman. 1084 00:55:30,600 --> 00:55:32,160 Um... Sorry, Aman. 1085 00:55:32,960 --> 00:55:34,440 - So... - How about we get to it now? 1086 00:55:34,520 --> 00:55:35,640 - So... - Why not Embassy? 1087 00:55:37,440 --> 00:55:39,160 - That was Dad's... - Because it is not... 1088 00:55:39,240 --> 00:55:40,440 I mean, it still is, 1089 00:55:40,520 --> 00:55:42,240 but I want to be known because of me. 1090 00:55:42,360 --> 00:55:44,200 - Are you estranged from your father? - Not at all. 1091 00:55:44,200 --> 00:55:46,320 - If Embassy... - I'm a partner in Embassy. 1092 00:55:46,400 --> 00:55:49,200 - There is no... - If you go with Embassy, won't it help? 1093 00:55:49,280 --> 00:55:50,600 Won't you get more customers? 1094 00:55:50,680 --> 00:55:52,800 - No, because... - Can I take this question? 1095 00:55:52,920 --> 00:55:56,600 Sir, Embassy, as you know is a 76-year-old restaurant. 1096 00:55:56,680 --> 00:55:58,400 They have a select few recipes 1097 00:55:58,640 --> 00:56:01,400 that people have savoured for 50 years. 1098 00:56:01,520 --> 00:56:04,400 They wouldn't allow to even tweak the recipe. 1099 00:56:04,480 --> 00:56:05,480 Got it. 1100 00:56:06,200 --> 00:56:09,120 - Can we show you a run-through? - Okay, go ahead. 1101 00:56:09,320 --> 00:56:12,920 90% of our business comes from Instagram. 1102 00:56:18,320 --> 00:56:22,280 - and we have over 232 thousand followers on Instagram. - Oh, wow! 1103 00:56:22,360 --> 00:56:23,520 Are you serious? 1104 00:56:23,640 --> 00:56:24,760 When we receive your order, 1105 00:56:24,840 --> 00:56:26,560 a form is immediately sent out to you, 1106 00:56:26,640 --> 00:56:28,440 the information of which you give us. 1107 00:56:28,520 --> 00:56:30,800 Then our dashboard, 1108 00:56:30,880 --> 00:56:35,360 our menu experts, start processing your order. 1109 00:56:35,440 --> 00:56:37,920 You did it for order management but it was not needed. 1110 00:56:38,000 --> 00:56:38,840 WhatsApp is enough. 1111 00:56:38,960 --> 00:56:41,160 Sir, we're dealing with about 500 leads a day. 1112 00:56:41,240 --> 00:56:42,960 Do you get 500 leads on average? 1113 00:56:43,040 --> 00:56:45,240 - During Diwali time... - During season time... 1114 00:56:54,320 --> 00:56:56,880 then how is customisation helpful? 1115 00:56:56,960 --> 00:57:00,600 But our pricing, generally, if you see compared to other caterers... 1116 00:57:00,680 --> 00:57:04,080 Here, it says Rs. 38,000 for 20 people. 1117 00:57:05,560 --> 00:57:07,040 That's for the non-vegetarian menu. 1118 00:57:07,120 --> 00:57:09,000 But Rs. 1,500-2,000 in Delhi and Mumbai 1119 00:57:09,120 --> 00:57:11,040 for a proper catering like this is not too cheap. 1120 00:57:11,400 --> 00:57:15,520 Our target audience is middle-class and above. 1121 00:57:15,640 --> 00:57:17,680 Plus, we're giving the set-up and everything. 1122 00:57:17,800 --> 00:57:20,280 We don't want to market ourselves as cheap caterers. 1123 00:57:20,360 --> 00:57:24,080 No, you said your differentiation was pricing. 1124 00:57:24,200 --> 00:57:26,000 - Not pricing, the calculation. - So, if the budget is... 1125 00:57:26,040 --> 00:57:29,280 If the calculation is different but my expenditure is the same, 1126 00:57:29,360 --> 00:57:30,960 - it's the same thing for the consumer. - Hmm. 1127 00:57:30,960 --> 00:57:33,480 You need to understand the consumer's problem. 1128 00:57:33,560 --> 00:57:35,720 If you hire a caterer, 1129 00:57:35,840 --> 00:57:38,400 normally you have an option in the starters and main course. 1130 00:57:38,680 --> 00:57:40,200 Two plus two, three plus four... 1131 00:57:40,280 --> 00:57:42,320 That's how the bifurcation is made. 1132 00:57:42,440 --> 00:57:45,200 But no one will tell you this if you've invited 20 guests. 1133 00:57:45,280 --> 00:57:48,160 You could use your crockery, I won't charge you for it. 1134 00:57:48,240 --> 00:57:51,360 Your pricing is inclusive of everything in that Rs. 38,000. 1135 00:57:51,560 --> 00:57:54,840 If you use your house staff, the cost of waiters comes down. 1136 00:57:54,960 --> 00:57:57,880 If you use your own bowls, the cost of chafing dishes comes down. 1137 00:57:57,960 --> 00:58:00,360 Will you provide catering for 20 guests in Rs. 5,000? 1138 00:58:00,480 --> 00:58:02,440 If the budget is Rs. 5,000, order our Num Yum boxes. 1139 00:58:02,440 --> 00:58:05,280 That's why we made platters 1140 00:58:05,440 --> 00:58:09,040 which range from about Rs. 1,100 and go up to Rs. 1,800. 1141 00:58:14,600 --> 00:58:18,040 Our two-year vision is to do 5,000 parties a year 1142 00:58:22,960 --> 00:58:24,920 - Sales. - Yes, so... 1143 00:58:25,120 --> 00:58:28,400 Start with the revenue from 2022-23 onwards. 1144 00:58:28,600 --> 00:58:31,240 Around Rs. 1.23 crores. 1145 00:58:31,720 --> 00:58:36,320 Then 2023-24, Rs. 3.68 crores. 1146 00:58:36,520 --> 00:58:38,040 To date, that is October, 1147 00:58:38,120 --> 00:58:40,320 we have already done close to Rs. 3.6 crores. 1148 00:58:40,400 --> 00:58:42,480 Projected sales for the year? The season is still not over. 1149 00:58:42,480 --> 00:58:45,080 - Aiming around Rs. 6 crores. - To close at around Rs. 6.5 crores. 1150 00:58:46,400 --> 00:58:49,080 It has been an average between 27 to 30%. 1151 00:58:49,200 --> 00:58:50,200 Net profit. 1152 00:58:50,440 --> 00:58:53,120 We didn't do our taxes. We reinvested that into the company. 1153 00:58:53,240 --> 00:58:54,760 You must have invested it into equipment. 1154 00:58:54,800 --> 00:58:56,880 - Yes, and we opened a kitchen in Mumbai. - Plus a new kitchen. 1155 00:58:56,920 --> 00:58:59,520 - So, the EBITDA margin must be 30%. - Yes. 1156 00:58:59,600 --> 00:59:01,600 And the PAT margin will be 0%. 1157 00:59:01,680 --> 00:59:05,520 No. I declared between Rs. 12-15 lakhs last year. 1158 00:59:06,520 --> 00:59:09,800 How much did you invest in kitchen equipment and the Mumbai setup? 1159 00:59:09,880 --> 00:59:11,720 Rs. 25 lakhs. 1160 00:59:11,800 --> 00:59:13,840 So, if you did EBITDA last year... 1161 00:59:13,920 --> 00:59:15,720 You must have done at least Rs. 70-80 lakhs, right? 1162 00:59:15,760 --> 00:59:16,880 We have cash in the bank. 1163 00:59:22,160 --> 00:59:25,400 I mean, we prefer to be tax-efficient. 1164 00:59:25,480 --> 00:59:28,160 Basically, by showing your household expenditures, 1165 00:59:28,240 --> 00:59:29,240 which is okay for you. 1166 00:59:29,320 --> 00:59:31,480 What about an investor who carries out due diligence? 1167 00:59:31,560 --> 00:59:32,800 What proof will you give me 1168 00:59:32,880 --> 00:59:35,320 that you're a 30% profit business and not 3%? 1169 00:59:36,040 --> 00:59:39,680 We'll show you our reinvestment bills. 1170 00:59:39,760 --> 00:59:42,960 - Again, the reinvestment is only Rs. 20-25 lakhs. - See, that's also... 1171 00:59:43,080 --> 00:59:44,440 Rs. 25 lakhs in Mumbai. 1172 00:59:49,640 --> 00:59:51,640 No, how will the expenses be verified 1173 00:59:51,720 --> 00:59:53,280 - because... - I will tell you. 1174 00:59:54,080 --> 00:59:55,760 How much cash is in the bank right now? 1175 00:59:55,840 --> 00:59:57,360 Approximately Rs. 45 lakhs. 1176 00:59:57,440 --> 00:59:59,000 Why should we invest in you? 1177 01:00:00,240 --> 01:00:02,280 I have always been interested in starting a business 1178 01:00:02,360 --> 01:00:04,840 that has longevity, 1179 01:00:05,120 --> 01:00:07,760 profitability and is in the expansion mode. 1180 01:00:07,880 --> 01:00:09,320 How will you expand this? 1181 01:00:09,400 --> 01:00:10,600 What's your vision? 1182 01:00:10,680 --> 01:00:13,000 We want to start operations in all the metros first. 1183 01:00:13,120 --> 01:00:15,960 With the investment we're trying to raise, 1184 01:00:16,120 --> 01:00:19,000 we plan on opening offices in five other cities. 1185 01:00:19,080 --> 01:00:19,920 And value-wise? 1186 01:00:20,000 --> 01:00:22,600 In the next three years, we wish to do 5,000 parties. 1187 01:00:22,680 --> 01:00:24,400 - 5,000 parties multiplied by... - 30,000. 1188 01:00:24,480 --> 01:00:26,560 - How much is that? - My math is weak. 1189 01:00:26,680 --> 01:00:28,240 It can't be that weak! 1190 01:00:30,760 --> 01:00:31,800 It's Rs. 15 crores. 1191 01:00:33,040 --> 01:00:35,840 - Is that all you will do? - In the next two years, yes. 1192 01:00:35,920 --> 01:00:36,920 Don't you enjoy this? 1193 01:00:38,640 --> 01:00:39,920 The vision looks small. 1194 01:00:40,440 --> 01:00:42,920 We've kept it small so that it is relatable. 1195 01:00:43,000 --> 01:00:45,880 We haven't taken any investment yet and have invested our own money. 1196 01:00:48,360 --> 01:00:49,360 No, we can. 1197 01:00:49,600 --> 01:00:53,520 We've learnt all the concepts from Shark Tank like burn, term... 1198 01:00:53,680 --> 01:00:57,080 So, from day one we wanted to build a company which is profitable. 1199 01:00:58,160 --> 01:01:00,720 - First of all, thank you for the food. It was good. - Thank you. 1200 01:01:00,800 --> 01:01:02,840 But I am out for now. 1201 01:01:04,160 --> 01:01:08,160 My problem is that you are in the business of hunger management 1202 01:01:10,000 --> 01:01:11,360 but I don't see the hunger in you. 1203 01:01:12,520 --> 01:01:13,920 We're very hungry. 1204 01:01:14,480 --> 01:01:15,920 It's not like that, we're hungry 1205 01:01:16,000 --> 01:01:17,640 and not just Rs. 1,000 crores, 1206 01:01:17,720 --> 01:01:20,120 if we dream big, we'd want to take this to Rs. 10,000 crores. 1207 01:01:20,280 --> 01:01:23,080 We get inquiries from Dubai on Instagram to this day 1208 01:01:23,160 --> 01:01:24,400 in high volumes. 1209 01:01:24,480 --> 01:01:27,520 And even in the US or London markets, 1210 01:01:27,680 --> 01:01:29,040 but I'm not exploring that now. 1211 01:01:29,120 --> 01:01:31,720 I want to keep my ground held. 1212 01:01:31,800 --> 01:01:34,280 I agree but I can't feel it. 1213 01:01:35,640 --> 01:01:38,240 I am out for this reason now, 1214 01:01:38,320 --> 01:01:40,120 but we'll meet sometime later. 1215 01:01:40,200 --> 01:01:42,040 You're in Gurugram. Let's see how you fare. 1216 01:01:43,320 --> 01:01:45,800 Savar! Tanisha! The food was delectable. 1217 01:01:46,520 --> 01:01:48,240 I believe you possess hunger 1218 01:01:54,640 --> 01:01:56,160 You could have joined that 1219 01:01:56,280 --> 01:01:59,120 but you decided to do something different 1220 01:01:59,200 --> 01:02:00,800 and make that successful. 1221 01:02:00,920 --> 01:02:02,400 I like your chemistry, 1222 01:02:02,520 --> 01:02:04,280 obviously, you're husband and wife, 1223 01:02:04,480 --> 01:02:07,240 but as co-founders, I like your chemistry. 1224 01:02:07,320 --> 01:02:09,560 - Thank you. - You are complementing each other well. 1225 01:02:09,640 --> 01:02:11,640 This could be a great business, 1226 01:02:11,760 --> 01:02:14,960 but I believe there's a scalability challenge. 1227 01:02:15,200 --> 01:02:17,320 For this reason, I'm out. 1228 01:02:19,440 --> 01:02:21,120 Okay, Tanisha and Savar. 1229 01:02:21,200 --> 01:02:23,160 This isn't an investible business now. 1230 01:02:23,560 --> 01:02:25,960 Regardless of the price calculations, 1231 01:02:26,040 --> 01:02:28,240 3,000 parties amount to a business of Rs. 9 crores 1232 01:02:28,320 --> 01:02:31,800 - and a profit of about Rs. 30,000 on average per party. - Yes. 1233 01:02:31,880 --> 01:02:33,880 This isn't a price differentiation. 1234 01:02:34,280 --> 01:02:35,400 Secondly, the tech. 1235 01:02:35,480 --> 01:02:39,760 Such basic tech is not a real differentiation. 1236 01:02:39,840 --> 01:02:42,320 And thirdly, it's important 1237 01:02:42,400 --> 01:02:46,760 that there be clear data to facilitate due diligence. 1238 01:02:46,880 --> 01:02:50,680 Then the business will rely majorly on the trust factor. 1239 01:02:50,760 --> 01:02:54,080 Believing whether it is a 30% or 3% profit. 1240 01:02:54,160 --> 01:02:55,560 My suggestion to you is 1241 01:02:55,640 --> 01:02:57,560 to make high profits. This is a good business, 1242 01:02:57,640 --> 01:02:58,680 but don't raise funds. 1243 01:02:58,760 --> 01:02:59,760 Okay? I'm out. 1244 01:03:01,240 --> 01:03:03,760 I think the biggest challenge I see is two areas. 1245 01:03:03,880 --> 01:03:07,760 Number one, the TAM is not such a large pan-India number. 1246 01:03:07,880 --> 01:03:10,360 And the second issue is what I told you about in the beginning. 1247 01:03:10,360 --> 01:03:11,720 When there are spikes, 1248 01:03:12,040 --> 01:03:13,360 a labour problem arises. 1249 01:03:13,440 --> 01:03:16,200 Somewhere in the service level, 1250 01:03:20,880 --> 01:03:22,720 - Before you say... - As a business, 1251 01:03:22,800 --> 01:03:24,920 couldn't become a pan-India brand. 1252 01:03:25,000 --> 01:03:26,240 For today, I'm out. 1253 01:03:26,360 --> 01:03:27,560 Just before you say something, 1254 01:03:27,640 --> 01:03:30,200 Chandigarh is a franchise outlet that we're opening in December. 1255 01:03:30,880 --> 01:03:33,960 Ours is a FOCO model, Franchise Owned Company Operated. 1256 01:03:34,040 --> 01:03:36,520 - Will you run it? Send your staff? - Yes, we will. 1257 01:03:36,600 --> 01:03:37,840 This business segment, I believe, 1258 01:03:37,880 --> 01:03:40,680 offers significant long-term opportunities. 1259 01:03:41,080 --> 01:03:42,560 Let's take a closer look. 1260 01:03:42,920 --> 01:03:44,800 Your business can be Rs. 10,000 crores 1261 01:03:45,560 --> 01:03:47,240 or it can be Rs. 5,000 crores 1262 01:03:52,960 --> 01:03:54,000 I also believe 1263 01:03:54,080 --> 01:03:56,320 you should expand on the wedding opportunity 1264 01:03:56,400 --> 01:03:58,400 that you initially passed out on 1265 01:03:58,880 --> 01:04:01,600 because the result is disproportionately different. 1266 01:04:01,840 --> 01:04:04,040 For instance, we run a wedding-related business 1267 01:04:04,120 --> 01:04:06,320 where we host 60,000 weddings in a year. 1268 01:04:06,760 --> 01:04:08,480 Our single biggest challenge 1269 01:04:08,560 --> 01:04:11,200 is to bring in a standardised catering partner. 1270 01:04:11,280 --> 01:04:13,200 I can be of help to you. 1271 01:04:14,320 --> 01:04:18,480 I'll invest Rs 50 lakhs for an equity 1272 01:04:18,680 --> 01:04:20,720 of 7.5 per cent. 1273 01:04:20,800 --> 01:04:23,720 I'll give you an additional Rs 50 lakhs as debt 1274 01:04:24,000 --> 01:04:25,960 for 10 per cent per annum of interest. 1275 01:04:36,480 --> 01:04:39,120 But apart from that, it should be immaculate. 1276 01:04:39,200 --> 01:04:41,280 I don't want discrepancies 1277 01:04:47,120 --> 01:04:48,160 Can we? 1278 01:04:48,240 --> 01:04:50,200 Yes. I already told you to go out. 1279 01:04:54,200 --> 01:04:56,080 Let's tell him to go more for equity. 1280 01:04:56,160 --> 01:04:58,880 Let's offer 5 per cent instead of 7.5 per cent. 1281 01:04:58,960 --> 01:05:03,200 No. Let's ask him for Rs 70 lakhs for 5 per cent equity. 1282 01:05:12,800 --> 01:05:14,520 We are delighted 1283 01:05:14,600 --> 01:05:17,240 - to have gotten the offer. - She goes straight to business. 1284 01:05:17,360 --> 01:05:18,800 Tanisha gets right down to business. 1285 01:05:18,920 --> 01:05:21,640 She's a lawyer, after all. Hospitality is my department. 1286 01:05:21,720 --> 01:05:23,440 No. I love both things. 1287 01:05:23,520 --> 01:05:25,720 It shows you're an ideal combination. 1288 01:05:25,800 --> 01:05:26,880 Yeah. That's true. 1289 01:05:26,960 --> 01:05:28,080 Tanisha, go on. 1290 01:05:28,200 --> 01:05:30,480 Rs 70 lakhs for 5 per cent equity, 1291 01:05:30,560 --> 01:05:32,840 and the remaining Rs 30 lakhs as debt. 1292 01:05:34,040 --> 01:05:35,400 People know 1293 01:05:40,760 --> 01:05:42,640 I'll invest Rs 50 lakhs 1294 01:05:42,760 --> 01:05:44,360 - for an equity of 5 per cent. - Okay. 1295 01:05:44,440 --> 01:05:46,120 Along with that, Rs 50 lakhs will be a debt 1296 01:05:46,160 --> 01:05:47,640 at 9 per cent for three years. 1297 01:05:53,320 --> 01:05:55,960 Rs 50 lakhs at 8 per cent will happen 1298 01:06:03,960 --> 01:06:05,360 Amazing! 1299 01:06:14,280 --> 01:06:16,400 - Exactly. - I have it all planned. 1300 01:06:16,480 --> 01:06:18,040 [camera shutter clicking] 1301 01:06:25,920 --> 01:06:28,000 We want a shark discount. 1302 01:06:28,080 --> 01:06:30,800 - Ritesh would be an ideal partner. - He's an ideal partner for us 1303 01:06:30,880 --> 01:06:32,720 as it's a complementary business, 1304 01:06:32,800 --> 01:06:36,800 and he already owns many hotels and kitchens. 1305 01:06:36,880 --> 01:06:41,280 We can expand pan-India tomorrow with him on our side. 1306 01:06:41,480 --> 01:06:43,320 - Hello, Savar and Tanisha. - Hi. - Hi. 1307 01:06:43,400 --> 01:06:45,680 Welcome to our PokerBaazi zone, where you hold the cards. 1308 01:06:45,760 --> 01:06:47,200 - Thank you. - How was your experience inside? 1309 01:06:47,200 --> 01:06:48,720 - It was great. Very nice! - Very good! 1310 01:06:52,640 --> 01:06:54,680 You know the tables can turn at any moment in both. 1311 01:07:19,000 --> 01:07:22,760 We've cracked a little during that time, but there's a long way to go. 1312 01:07:22,840 --> 01:07:25,520 That's followed by the maturity phase of money and success. 1313 01:07:25,600 --> 01:07:27,480 Please choose one phase 1314 01:07:27,600 --> 01:07:30,920 from your journey and share a related incident. 1315 01:07:31,040 --> 01:07:35,080 I think ours would be the growth phase. 1316 01:07:35,160 --> 01:07:37,840 - I'll tell you about an incident related to it. - Yes. 1317 01:07:37,960 --> 01:07:39,920 So, it was the Diwali time. 1318 01:07:40,000 --> 01:07:42,920 We posted a reel. 1319 01:07:43,040 --> 01:07:44,840 We had no idea. 1320 01:07:44,920 --> 01:07:47,600 Tanisha and I were going to Thailand. 1321 01:07:47,680 --> 01:07:50,080 As soon as we landed, we saw our phone had 1322 01:07:50,160 --> 01:07:53,320 around 1500 to 1600 Instagram notifications. 1323 01:07:53,400 --> 01:07:54,720 - I see! - Our phone had crashed. 1324 01:07:54,760 --> 01:07:57,520 Our phone crashed, and messages were flooding in. 1325 01:07:57,600 --> 01:07:59,680 There was nobody in Delhi to work at that time. 1326 01:07:59,760 --> 01:08:02,520 We had just started at that time. 1327 01:08:02,760 --> 01:08:04,640 We didn't know 1328 01:08:04,760 --> 01:08:08,080 the growth phase would enter the introduction phase so soon. 1329 01:08:08,160 --> 01:08:12,800 One of our reels went viral and had 7.5 million views. 1330 01:08:40,200 --> 01:08:42,080 Strategise and make the winning hand. 1331 01:08:42,160 --> 01:08:43,800 Go and download PokerBaazi app now. 1332 01:08:48,920 --> 01:08:51,200 Jaquar presents 'Bringing Good Ideas to Life.' 1333 01:08:51,280 --> 01:08:54,400 Guys, the pitches have been fantastic at Shark Tank India. 1334 01:08:54,480 --> 01:08:57,800 Many entrepreneurs created waves of success with their ideas. 1335 01:08:57,880 --> 01:08:59,160 Did you miss it? 1336 01:08:59,280 --> 01:09:03,000 No problem. Let's rewatch those moments. Come on. Let's watch. 1337 01:09:03,160 --> 01:09:05,480 [inspirational music playing] 1338 01:09:06,760 --> 01:09:09,920 'Panchal Dairy has sold 1120 kilograms of cheese so far.' 1339 01:09:10,720 --> 01:09:14,320 'We started making different types of cheese with goat and sheep milk.' 1340 01:09:14,400 --> 01:09:16,680 'We made feta, marinated feta,' 1341 01:09:16,760 --> 01:09:18,840 'fresh goat cheese, halloumi, ricotta,' 1342 01:09:18,920 --> 01:09:20,760 'St. James, Saint-Marcellin,' 1343 01:09:20,840 --> 01:09:23,720 'and other such types of cheese.' 1344 01:09:24,360 --> 01:09:27,200 'Panchal Dairy has an entry in the World Cheese Awards.' 1345 01:09:27,480 --> 01:09:31,160 'Your village is of 1500 families. You make artisanal cheese there.' 1346 01:09:31,240 --> 01:09:33,680 - 'You submitted for an award in Norway. - Yes.' 1347 01:09:33,760 --> 01:09:35,360 'That's admirable.' 1348 01:09:35,560 --> 01:09:37,680 'At ZebraLearn, we simplify' 1349 01:09:37,760 --> 01:09:41,200 'complex topics like finance, marketing, HR, etc.' 1350 01:09:41,280 --> 01:09:43,520 'We make them interesting for the reader.' 1351 01:09:44,080 --> 01:09:45,000 'It's lovely to see people' 1352 01:09:45,080 --> 01:09:46,880 - 'from finance doing business. - Thank you.' 1353 01:09:47,880 --> 01:09:49,640 'Look. I've always believed' 1354 01:09:49,760 --> 01:09:51,240 'that finance education' 1355 01:09:51,320 --> 01:09:53,680 'should be taught in schools.' 1356 01:09:53,800 --> 01:09:56,920 'You must be the king of finance first.' 1357 01:09:57,320 --> 01:09:59,400 'Dorabi is India's only' 1358 01:09:59,480 --> 01:10:01,600 '100 per cent hand-dyed label,' 1359 01:10:01,680 --> 01:10:06,120 'presenting a traditional technique in a modern way.' 1360 01:10:07,120 --> 01:10:09,160 'We are eco-conscious' 1361 01:10:09,240 --> 01:10:10,800 'and are bringing about social impact' 1362 01:10:10,880 --> 01:10:13,600 'by generating employment for generational artisans.' 1363 01:10:13,680 --> 01:10:15,800 'You should not be producing in bulk.' 1364 01:10:15,880 --> 01:10:17,680 'You should not be contributing to landfills.' 1365 01:10:17,720 --> 01:10:20,800 'You should be sourcing and selling mindfully.' 1366 01:10:20,920 --> 01:10:23,360 'Those are the common factors between both the brands.' 1367 01:10:23,480 --> 01:10:25,880 'I have an 8-year-old daughter.' 1368 01:10:25,960 --> 01:10:27,680 'One day,' 1369 01:10:27,840 --> 01:10:30,280 'I want her to be in a situation' 1370 01:10:30,400 --> 01:10:34,160 - 'where she can pitch her business with this confidence. - Thank you.' 1371 01:10:34,240 --> 01:10:37,160 'The ones who come back after setbacks' 1372 01:10:37,280 --> 01:10:39,360 'are real entrepreneurs.' 1373 01:10:40,840 --> 01:10:43,720 'Our story started 20 years ago' 1374 01:10:43,800 --> 01:10:45,560 'when a working woman' 1375 01:10:45,640 --> 01:10:48,840 'discovered healthy snacks for her family.' 1376 01:10:49,120 --> 01:10:52,120 'We thought, why shouldn't we share?' 1377 01:10:52,200 --> 01:10:54,960 'Eat Better should be a household name. It's only fair!' 1378 01:10:55,000 --> 01:10:55,800 'Hmm.' 1379 01:10:55,840 --> 01:10:56,960 - '- Yummy! - Yum!' 1380 01:10:57,040 --> 01:10:59,000 - 'It's tasty, madam. - Thank you so much.' 1381 01:10:59,080 --> 01:11:01,120 'Are you manufacturing this? Does it have your name?' 1382 01:11:01,160 --> 01:11:02,280 'It started with home kitchen.' 1383 01:11:02,280 --> 01:11:05,280 'Now, we're in a 20,000 sq ft facility.' 1384 01:11:05,400 --> 01:11:08,040 - 'Madam, you're an inspiration. - I'm very grateful.' 1385 01:11:08,120 --> 01:11:10,160 'It shows that you're progressive.' 1386 01:11:10,240 --> 01:11:13,240 'It will be powerful for India.' 1387 01:11:15,280 --> 01:11:18,040 'F2DF is a unique phygital platform.' 1388 01:11:18,120 --> 01:11:20,720 'We don't charge any commissions to the farmers.' 1389 01:11:21,040 --> 01:11:24,840 'Today, more than 5 lakh farmers are connected to us offline.' 1390 01:11:24,960 --> 01:11:26,800 'We reach 17 crore farmers' 1391 01:11:26,880 --> 01:11:29,120 'through the online medium.' 1392 01:11:29,200 --> 01:11:33,200 'My family gave me Rs 40 lakhs as a gift when I married.' 1393 01:11:33,280 --> 01:11:34,880 'Neeraj took it from me.' 1394 01:11:35,200 --> 01:11:37,000 - 'That is why my share is more. - Oh! - Woah!' 1395 01:11:37,040 --> 01:11:38,440 'That means you're an investor.' 1396 01:11:38,720 --> 01:11:41,360 'I said, 'I want more share if I invest more money.' 1397 01:11:41,520 --> 01:11:43,160 - 'Wow! - Woah!' 1398 01:11:43,200 --> 01:11:44,400 Superb! 1399 01:11:44,600 --> 01:11:46,440 - 'Superb! - Excellent!' 1400 01:11:47,040 --> 01:11:48,600 'One must learn from you.' 1401 01:11:48,680 --> 01:11:51,920 'Ma'am, you're setting an example for the citizens of India.' 1402 01:11:53,800 --> 01:11:55,720 [motivational music playing] 1403 01:11:58,280 --> 01:12:00,200 All the pitchers proved one thing. 1404 01:12:00,440 --> 01:12:02,760 Proudly Made in India for the world, 1405 01:12:03,040 --> 01:12:04,160 just like Jaquar. 1406 01:12:08,320 --> 01:12:11,480 Hi, everyone. Welcome to Ask the Shark with me, Sahiba. 1407 01:12:16,600 --> 01:12:18,880 the true pronunciation of Pune. 1408 01:12:18,960 --> 01:12:20,080 Did I do it right? 1409 01:12:20,160 --> 01:12:21,880 You absolutely did. Congratulations! 1410 01:12:22,000 --> 01:12:23,800 Thank you. It's, of course, Namita Thapar, 1411 01:12:23,920 --> 01:12:26,560 the Executive Director of Emcure Pharma. Hello! 1412 01:12:26,640 --> 01:12:27,720 Hi, Sahiba. 1413 01:12:27,800 --> 01:12:30,760 You know several viewers have sent questions for you. 1414 01:12:30,840 --> 01:12:32,360 Today's question 1415 01:12:32,440 --> 01:12:34,920 is by Vivek Singh, who is 28 years old, 1416 01:12:35,040 --> 01:12:37,920 - from Katni, Madhya Pradesh. Interesting! - Okay. 1417 01:12:57,640 --> 01:13:01,480 the per tablet or per capsule rate of Indian tablets 1418 01:13:01,640 --> 01:13:03,120 is very cheap, 1419 01:13:03,240 --> 01:13:05,600 especially for lifelong diseases 1420 01:13:05,680 --> 01:13:09,320 like statins for cholesterol or those for diabetes. 1421 01:13:09,480 --> 01:13:11,320 We're some of the cheapest globally. 1422 01:13:11,440 --> 01:13:14,600 A warning here is that the concept of generic tablets is on the rise. 1423 01:13:14,680 --> 01:13:17,720 Instead of a brand name from a trusted company, 1424 01:13:17,960 --> 01:13:20,280 there is a substitution at the chemist's level. 1425 01:13:20,360 --> 01:13:23,920 They tell you that these are cheap, 1426 01:13:24,000 --> 01:13:27,160 as low as 10 per cent of the other product for substitution. 1427 01:13:27,240 --> 01:13:29,640 But please buy it mindfully 1428 01:13:29,760 --> 01:13:34,080 because many times, their manufacturing facilities, 1429 01:13:34,240 --> 01:13:37,160 and the raw materials are unaudited. 1430 01:13:37,240 --> 01:13:41,000 We don't know whether they're following GMP or not. 1431 01:13:41,080 --> 01:13:42,760 So, beware of that. 1432 01:13:42,840 --> 01:13:45,520 Regarding your second question, how do we decide the rates! 1433 01:13:45,600 --> 01:13:47,080 It depends on the product. 1434 01:13:47,160 --> 01:13:50,080 Your product might have a scientific USP, 1435 01:14:25,880 --> 01:14:28,360 With newer questions and another shark, 1436 01:14:28,440 --> 01:14:30,880 I'll see you again on Ask the Shark.