"Vineeta Singh gasps at Shark Tank India pitchers’ Rs 300 crore valuation and Rs 100 crore revenue in a single year: 'Out of respect.'"
"Vineeta Singh gasps at Shark Tank India pitchers’ Rs 300 crore valuation and Rs 100 crore revenue in a single year: 'Out of respect.'"
"Shark Tank India 4: A husband-wife duo pitched their toy brand on the latest episode, leaving the 'sharks' impressed with their projected sales of nearly Rs 100 crore for the year."
"The fourth season of Shark Tank India featured one of its most high-stakes pitches in the latest episode, as two founders from Mumbai presented their toy brand, Imagimake, to the panel of 'sharks'. The panel included Kunal Bahl, Ritesh Agarwal, Azhar Iqubal, Aman Gupta, and Vineeta Singh. The husband-wife duo, Ravi and Disha, asked for Rs 1.5 crore in funding in exchange for 0.5% equity, valuing their company at an impressive Rs 300 crore. Both Aman and Vineeta were visibly shocked, letting out audible gasps.
Vineeta shared that her children regularly use their products and praised their quality. The founders explained that they aim to create puzzles, toys, and games that educate children about history, geography, and culture. They also expressed a desire to expand internationally, with the United States being their primary target market. Currently, 35% of their revenue comes from exports.
The 'sharks' were further stunned when the founders revealed their financials. They mentioned that their revenue was Rs 13 lakh in 2021 and they were aiming for nearly Rs 100 crore this year. Additionally, they reported having Rs 8 crore in the bank, to which Aman Gupta remarked, 'Mast paisa hai.'"
While all the 'sharks' were impressed with the financials, they were all thinking the same thing. Aman voiced what was on everyone’s mind: 'You’re doing well, you’ve built a great business, you’ve raised funding, everything is great—so why are you here on Shark Tank?' He added, 'You seem smart, I don’t think you need me, and my time is limited.' For this reason, he decided to bow out of the deal. Kunal and Azhar cited similar reasons for stepping away as well. Kunal remarked, 'My goal is to help talented people like you achieve their dreams. But you’ve already achieved your dreams; you’re already successful.'"
"Vineeta, however, was interested in making an offer. 'The scale you're at, with 350 employees and nearly Rs 100 crore in revenue—everything checks out. Your revenue was only Rs 13 crore four years ago. People might think you’re an overnight success, but they’re forgetting you toiled for 12 years before that. I’ll make you an offer out of respect.' Vineeta offered the founders Rs 1.5 crore in exchange for 1.5% equity, valuing the company at Rs 100 crore.
Ritesh, however, expressed that it would be a shame if the founders left the show without an offer and asked if they’d be willing to accept Rs 1.5 crore for 1.2% equity instead."
"The founders took a few minutes to discuss and then returned to inform Vineeta and Ritesh that they had no choice but to respectfully decline their offers. 'No negotiation, just a straight decline?' Aman asked. The founders explained that they had demonstrated enough growth in recent years to justify their valuation. With that, they left without a deal."
Thank You.
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