- Prathamesh, how are you? - Hi, sir. I am fine.
- How are you? - What are you doing here
- in 'Shark Tank India'? - I came here with my team
who runs a company called Thinkerbell.
I will give a demonstration of one of their devices.
What do you know about 'Shark Tank India'?
All the entrepreneurs with their established or start-up firm
come here and the sharks invest in them.
And they counter one another
with how much they are willing to invest.
If you were to teach me something
what would you teach me?
Sir, you are older than me. I am still a novice child.
I will be mature when I grow up.
How do you speak so much?
I don't come with a script to follow.
I say whatever comes to my mind.
- Do you have any favourite shark? - Mr. Aman Gupta.
He is the C.E.O. of Boat.
And I have all of their products.
Do you think that your team will get the investment?
Sir, I am really sure that
they will get the investment.
I am confident.
Hi, Sharks. My name is Aman.
My name is Dileep Ramesh.
My name is Sanskriti.
And my name is Saif.
We are the co-founders of the Thinkerbell labs.
According to W.H.O., one out of every thousand children
needs what we make.
There are over 20 lakhs visually impaired children in India.
And their literacy rate is very low.
The surprising fact is that even in a country like U.S.
the literacy rate is only 10 percent.
It means that in a country where they have
braille buttons on every lift
only one out of ten kids can read it.
And the reason is the lack of teachers
proficient in braille.
This is a global problem.
So, we bring you Annie.
Annie is the world's first self-learning
remote enabled braille literacy device.
Annie in its friendly voice
teaches braille to the kids in their mother tongue.
Along with Annie, we have
a learning eco-system called Helios.
With its help, you can track the progress of you child.
And you can download new content through
over the air updates.
With the help of Helios and Annie
even in the mainstream regular schools
visually impaired children can learn without any problem.
To give a demo of Annie, we have a very special guest.
Someone who knows Annie better than all of us.
I would like to invite Prathamesh Sinha.
- Hi, Pratham. - Hi.
- Hi, Sharks. - Hi! - Hi, Pratham.
Welcome to 'Shark Tank', Prathamesh.
Greetings, Sharks. My name is Prathamesh Sinha.
I am from Pune.
During the lock down, when everyone had online classes
I learned a lot with the help of Annie.
Annie is not only a smart braille learning device.
But it is also my best friend and companion too.
So, if you look at Annie's left side
we can see a switch using which we can turn it on or off.
On its top, there is a large braille display.
On which big dots appear, compared to the ones
that we read normally.
To my right side, there is a standard braille display
in which small dots will appear, similar to the ones we read.
In the middle, there is a speaker.
If we go further down, there is a keyboard
with which I can type.
It has six keys.
Braille script depends on six dots.
And it is an arrangement of six dots.
Similarly, there are keys here.
Like, one, two, three, four, five, and six.
Below the key number three, there is the enter key.
And below the key number six, there is the backspace key.
If we go further down from the keyboard
we can see Annie's braille slate.
It is a digital braille slate
through which I can learn to write.
'Reading and typing.'
With its help, I can learn reading
typing, writing, and vocabulary.
It has lessons, games, and stories as well.
So, Now I will show you a lesson in Annie.
'A letter typing lesson.'
- Uh-oh. - 'Wrong answer.'
It gave me a retry. I think something happened.
Don't worry. Just.. I am managing it.
- Press key one. - I am managing it.
'To type an alphabet, press the typing keys.'
'To submit your answer, press the spacebar.'
- 'Very good.' - Yes! I did it!
Yes!
Thank you, Sharks, for giving your valuable
and important time.
I hope you all liked my demonstration.
- We loved it! Well done. - We love you. - Very good.
Thank you, Sharks.
Very nice.
Prathamesh, do you know my name?
Can you identify me by my voice?
Mr. Aman Gupta?
- You are closer. - Yes.
Are you not Mr. Aman Gupta?
Lenskart's..
- So cute. - Very nice.
I am one of the few people here.
- I am Anupam. - Okay.
Do you know what we do here and how we do it?
You make investments for the entrepreneurs.
- Very good. - Wow!
Would you like to sit on the shark's chair? - Okay.
How old are you?
I am ten years old.
And I want speak to Mr. Aman Gupta.
Sure, he is right here. Please come.
- Okay. - Aman, please come.
- Be careful. - It's okay.
- This is the chair. - Sir, do you know?
I have all of your products.
Such as earpod, headphone, charger
- speaker.. - Wow! - Well done!
- Thank you. - Whenever I switch on
my headphones, it sounds like this.
- Power on. - Yes! - Wow!
After that, when I switch it off, it says..
- Adios Amigo. Powering off. - Great!
- You sounded just like that. - Absolutely right.
It is amazing.
Can I get a photo with you?
- Of course.. - Come on.
Prathamesh, what do you want to be when you grow up?
- I want to be an I.A.S. officer. - I.A.S. officer. Wow!
Do you think that Annie will help you
in becoming an I.A.S. officer?
If its updated version keeps on coming
- it might help me. - Wow! That's great!
Are you also a shareholder of Annie?
Brand ambassador.
If they receive the funding today
ensure that they raise the fee for the brand ambassador.
Yes, of course.
All right, Prathamesh, it was nice to meet you.
- Bye. - Thank you. Bye.
- Bye, Prathamesh. - Bye. - Bye.
So..
Given the product and the market
our target is the international markets.
We are planning to do
what Indian I.T. did in software.
We are trying to do that with hardware
in the field of special needs education.
We have signed a contract with the largest
assistive tech distributor in America.
It is a contract for three years.
- Value of 1.7 million dollars. - Wow!
One point seven million is twelve crore.
- Twelve to thirteen crore. - Twelve to thirteen crore.
So, during the academic year in U.S.
the contract is for 700 Annies.
Annie's name in U.S. is Paulie.
They truly believe in our vision.
And they are saying that it is the iPhone moment
- for braille literacy. - Wow!
And we are lucky to be backed by investors
like Mr. Anand Mahindra
Mr. Raman Roy, I.I.M, and L.V.
To take Thinkerbell Labs to the next stage
we are looking for strategic investors.
Therefore, Sharks
we offer you 0.5 percent equity for 30 lakh rupees.
How do you divide the work among the four of you?
If you want, the C.E.O.. Sorry, I mean..
If we want?
No, I meant to say that
we do everything together.
Sanskriti, you should understand that you will be out soon.
- He can try. - No, we..
- Tell us about your roles. - All of us work.
But Sanskriti is the C.E.O.
Aman is also the C.E.O. I am the C.T.O.
- And Saif.. - Innovation..
- Manages the hardware. - We are all engineers
from B.I.T.S. Pilani.
So, you all are from BITS Pilani. - Wow!
When we were in college, we were working on this idea.
And there was a course called
new venture creation, where you
figure out the viability of your idea.
Tech for good has been our motto.
That is one theme that brings all of us together.
The tech for good which you are doing
is my favourite area.
Which level of students are you targeting with this device?
For children of which age group is it made for?
It is a device for ages four to fifteen.
Everyone has a mobile phone nowadays
which has become the centre of device.
If I want to learn anything, I plug in the earphones
to my mobile phone.
And I learn what I hear.
So, why would I need braille?
Sir, the problem is that braille is a literacy.
Literacy is the fundamental skill of writing, and reading.
And until a person, or a child, in fact
does not learn the writing and reading skills
as part of their cognitive development
there will be certain cognitive developments will not happen.
For example, if I say apple
two things will come to your mind.
A red coloured fruit called apple.
And then the letters 'A', 'P', 'P', 'L', and 'E'.
You combined five letters to form a word.
- So, it is also a cognitive.. - Cognitive.. - Yes.
So, it is very important.
What is the price of a device?
- A thousand dollars.. - So, almost..
- A thousand dollars! - Yes, it's our price
to the distributor.
So, 70,000 rupees.
Can you show us one device, please?
What is the cost of this device?
We make around 50 percent margin.
- Fifty percent margin. - What is so special about this
for it to be worth 1,000 dollars?
It's the problem that we are solving.
But it costs you 500 dollars too, doesn't it? - Yes.
How do you sell it?
Is it only through government contracts?
Don't the customers buy it directly from you?
- No, it is not P2C. - For 1,000 dollars
no one in India will buy it.
You said that 20 lakh children in India need it.
Did you tell any investor that
you will teach braille to 20 lakh children in India?
We have said it. But the things is..
Listen, I will tell you
what fundamental mistake you are making.
I want to invest in it.
First, you wanted to bring a revolution.
Then you got a heavyweight customer.
Now that customer is your boss.
Now they will bring minor changes in it
which you will start working on.
And basically, it will be your bread and butter.
But the revolution you wanted to bring got left behind.
You have come to selling hardwares.
That is the biggest problem.
You take Alexa for example.
The hardware costs nothing.
They can provide that for free.
Because, they want to use it to make more money.
You are not thinking about that.
You can distribute the same device all across India.
And you can say that it cost a hundred rupees
for an hour long session.
You can place a QR code on it.
When they scan the QR code, the device will be turned on.
It will work for an hour.
And the history will also be collected.
And you use a software for this.
So, it was a big game, wasn't it?
You got the first order and you went for the hardware.
The game will be bigger if you reduce the cost of the hardware
to the point where you can even give it for free.
And you can earn from it per session.
What is the principle behind a software?
You are not earning from the phone?
What value does a phone has?
Understand what value the apps in it has.
The fund that you raised..
How much have you diluted it so far?
- Thirty five percent. - Thirty five percent.
What will be the revenue this year?
- Till date, 3.5 is already in. - But, closing at around five.
- Closing at five. - If you make
five crores this year how much will you
- make next year? - Next year
our target is to make 20 crores.
I like what you are doing.
You have a good cause.
Since, so many young people have set out with such an aim
you will create something.
So, I will make you an offer.
You want 30 lakhs for 0.5 percent.
So, I will offer you 30 lakhs, for two percent of your company.
Twenty five to thirty lakh rupees won't be enough.
The fundamental misalignment I see is that
in an effort to change the world
finally you are straying away from your target.
People are not convinced that you will change the world.
So, no one wants to place a big bet on you.
What you want to change is something big.
For that great change, you have to sell the big dreams.
And I know how to do it.
You should think that this reaches 20 lakh Indians.
My offer is that I will give you
one crore rupees instead of thirty lakhs.
I want five percent equity.
I would like to share one-third to two-third
with Piyush, if he allows.
I don't think that after so much dilution
you should allow five percent more.
My offer..
Thirty lakhs at one percent.
I have 12 manufacturing facilities.
And I am associated with 200 manufacturing facilities
for outsourcing.
It will be available in every Lenskart store immediately
from day one.
If inventory cost is required
I will fund that at zero capital cost.
I have a presence in 70 countries.
If your ambition is to go global
- I have a network there. - Even Lenskart has a presence
in US, Middle East and Southeast Asia.
I can bring the network of 70 countries.
I want to be associated with this cause.
I want to make it revolutionary.
Peyush wants to offer you Rs. 1 crore for 5 per cent.
Or Rs. 30 lakh for 1 per cent which Namita is offering.
I will match that.
But I need to work with you guys.
I will go lower than that.
I want to offer Rs. 30 lakh for 1 per cent as well.
I would like to offer you Rs. 30 lakh for 0.75 per cent.
My offer is, accept their offer.
Aman, what do you suggest? Whose offer they should accept?
Give them a specific advice.
Thank you. All the best.
Okay, fine.
We would like to bring all four of you on board.
All of you are accomplished persons of different sectors.
So we would like to offer
Rs. 1 crore for 2.5 per cent equity.
2.5 per cent for all four of us for Rs. 1 crore.
If you give someone so less equity
he won't feel like talking to you after getting up from sleep.
We will counter you.
Rs. 1 crore for 4 per cent.
That's lesser than your previous offer.
We were offering you separately.
You asked all of us to come on board.
So here you go.
It will cost you more, right?
I can make a deal with you solo.
Rs. 1 crore
at 3 per cent. But you have to say
- yes or no immediately. - What's this?
That's the spirit! Yes!
- Yes or no? - What's this? - Yes or no? - It can work.
Say now..
My offer is Rs. 30 lakh for 0.75 per cent.
I need your answer immediately.
- No. - No?
Oh! Nice!
- Rs. 1 crore for 4 per cent. - Yes! - She is so clear.
I love that.
Accept our counter. We won't discuss anymore.
I think Rs. 1 crore for 4 per cent is a good deal.
No one will have a meaningful stake.
- It won't help you much. - Just think.
He is trying to kill our chance.
What he will do to you later.
Come on. Decide now.
You can decide.
Today, Namita has a different..
I want to do this. It's a great cause.
She has a different game plan today.
Will you give time?
I have a full set-up. I will give my office.
Stick to Rs. 1 crore for 4 per cent.
What's the problem?
All of you have turned out to be real sharks.
Hopefully, the deal will be closed now.
- So let's see. - Very good, come on!
Our counter offer is, Rs. 1.2 crore for 3 per cent.
- Rs. 30 lakh each. - Yes. - Rs. 30 lakh each.
I am out.
I am not matching her deal, Rs. 30 lakh for 0.75 per cent.
Look, by rejecting our offer, Rs. 1 crore for 4 per cent
you lost a shark.
Are you okay with Rs. 1 crore for 3 per cent?
Then you will get three of us.
No.
What I am saying.. Rs. 35 lakh each..
- For 1 per cent each. - It will be 1 per cent each.
- Does that work for you? - Rs. 35 lakh each
for 1 per cent each.
Our final offer is Rs. 1.05 crore
for 3 per cent of the company.
- Sharks, the deal is closed. - Superb!
Now you want to display in Lenskart store..
It won't happen.
Please call Prathamesh.
Three of us are coming on board.
But I could have expanded your business alone.
Later, I will have to buy their shares at higher price.
I just wish from the bottom of my heart
that you create many more Prathamesh
for India.
There he is!
Hello, Prathamesh.
Prathamesh, this is for you.
We are investing in their company.
Because we love you and their product.
Yes! My God!
Come here. - I am Peyush from Lenskart. - Yes..
You are doing this for a noble cause.
This is a noble cause.
- I see. - Thank you..
- Thank you so much, Shark. - Thank you for coming.
And Mr. Aman.
I am here.
- Shall I tell you something? - Go ahead.
I am happy
that when we buy headphones, speakers and something like this
we rely on international companies.
Being a great Indian, I can say
I use Boat. I used to use Boat.
And I will continue using Boat. And I used to buy Boat.
I buy Boat. And I will continue buying Boat.
Bye.
These sharks are sweet like dolphin.
They are proper dolphins.
My name is Surabhi Shah. I am 30 years old.
And she is my partner.
Sharks, greetings.
My name is Chetna Shah. I am 55 years old.
And we have come from India's cleanest city
Indore.
So sharks, you can see this in every household.
Whenever we order food
we receive that in a plastic packaging like this.
But we are not just consuming the food
but also consume micro plastic.
By consuming micro plastic
we are inviting the disease like cancer.
And every year, we're depositing 200 million tonnes
of plastic spoons, plastic plates
and plastic containers.
But we have a solution to solve this problem.
Carrabox.
In Carragreen
following our three mantras, reuse, reduce and recycle
we found a solution in this box.
So sharks, tell me. Who is excited to see
how magical this box is.
Generally, we throw the box away after taking out the food.
But Carrabox is magical.
After using it, we will tear along perforation.
And we will get a plate.
Wow!
You need to tap. And here is your spoon.
It's ready for use.
Lovely.
The board which is used to prepare it
is a food grade board.
It's our dream
that Carrabox is used for every food delivery.
To fulfil our dream
we ask for Rs. 50 lakh
for 10 per cent.
So sharks, we have brought 'Poha' from Indore
and 'Ratlami Sev'.
And the food will be served on Carrabox's plate with spoon.
You will serve us food too! Very good! - Amazing!
Thank you, sir.
- Thank you. - Thank you.
It was easy to break.
Thank you.
Amazing!
- Thank you. - Who prepared 'Poha'?
- Mom got it prepared. - So you are mom..
- Indore's recipe. - Indore's recipe.
- So you are mom-daughter duo. - Mother-in-law
and daughter-in-law.
- Oh, nice! - I see. It's Indore's 'Poha'.
Yes.
You know what I am finding interesting.
Till now, we have seen mothers-in-law are fighting
with their daughters-in-law in TV serials.
You know what.. We are used to that.
Today, after seeing both of you, I am really happy.
It will inspire India.
Mother-in-law-daughter-in-law due can do business together.
That time is over. That's why
this show has replaced such serials.
It's 21st century's India.
Mother-in-law and daughter-in-law
can be like mother and daughter too.
- Amazing! - Absolutely! Wow..
- Very good. - Amazing!
Thank you.
How did you get this idea? And why?
Everyone remembers their childhood train journeys.
Our mothers used to pack food for journey.
If she forgot to take spoons
Then we used to fold a cardboard piece
and use it as a spoon to eat 'Bhel' or 'Upma'.
Yes. - So, the main concept
began from that.
So, I'm an engineer by profession.
And I worked in my family business
for two years as an intern.
And I helped set up a printing unit.
There I saw that a lot of cardboard
go waste.
They are sent for recycling.
The box concept was mine.
But she has a history. She was a baker.
She taught how to prepare the cake.
So, her contribution is her expertise.
She suggests how the boxes should look
and how attractive they should be.
Did you both launch this business together?
Who is the CEO of this business?
I launched it two years back.
I was selected at IIM Bangalore
as one of the top hundred women entrepreneurs.
There we had submitted ten ideas.
Finally, this one idea go finalized.
So, is it your family who funded this idea so far?
No, we got a grant of Rs. 8 lakh from IIM Bangalore.
I invested that money in this.
You said that it is a substitute of a plastic box.
I won't consider this box
in case of something oily.
Something which has a possibility of leakage.
So, it's not really a substitute.
When we order the take away boxes
we receive plastic boxes.
Its substitute has arrived in the market.
The cardboard boxes.
We can store them in these.
We can't put
the noodles in this but it can be packed
and delivered using this.
We can use the spoons and plates.
I mean, we reduce the plastic to some extent.
What's the selling price and the cost price?
The cost price is around Rs. 11.5.
And the selling price is Rs. 15.
Surbhi, I would like to ask how many boxes you manufactured
and sold so far?
Also, how many clients do you have?
We have five big customers.
Haldirams is one of our biggest customers.
Our spoons are included in their 'Bhel' and 'Sonpapdi'
packaging.
Another big client in Balaji Snacks.
So, overall we sell
four to five lakh spoons monthly.
How much is the approximate revenue?
80000 to 90000.
We haven't sold any boxes yet.
Because we have distributed only the samples.
Who sold to Haldirams and how?
It's not easy to sell something to Haldirams.
It was not easy at all.
We went to their restaurants first.
We tried their food with our spoons.
Very good. - So, we thought why not Haldirams?
Then we mailed them.
Okay. - That was the time when plastic ban happened.
So, in several restaurants we dropped a message
that the plastic is going to get banned
and we have a substitute.
We got their addresses and sent our samples.
So, our first meeting was after they received the samples.
So, they loved our idea.
Do you have a patent for this?
Applied. Yes. Utility or design? - Design.
So, no one can make something like this if you get the patent.
The concept. The plate and spoon in the box concept.
Right now you have few big clients.
Have you ever thought about how much you can grow
if you tie up with Zomato and Swiggy?
We are trying.
We have mailed them.
I mean, the process is going on.
Also, I have suggested another option
which is including
'Do send with carobox' option. - Very interesting.
Only then the customer will know that something new
has arrived.
That will be a branding for you.
- Yes. - Very clever.
Surbhi, your concept is good.
It's novel.
You talked about the patent.
But I don't think people will refrain
from copying this.
You are making a revenue of Rs. 1 lakh
and you both are doing it together.
That's great.
But don't see a possibility of scalability.
So, I'm out considering my perspective.
I'll let the other sharks decide.
Thank you so much, sir.
When I buy food
I don't bother much
about its box. I buy the plates or the spoon
separately.
This doesn't seem sturdy
greaseproof and oil proof either.
Eating with this spoon is not comfortable.
So, I'm unable to relate with this product.
So, for that reason I'm out.
- Thank you so much. - Thank you.
I love your concept.
It may go globally too if you get the patent.
There is nothing that I can do to add value to this.
You keep growing and all the best.
And I'm out of this.
- Thank you. - Thank you so much.
I would like to say something.
Right now your business is at the beginning stage.
Some brainstorming is necessary.
You can't scale it big with only boxes and spoons.
But looking at you both
I feel that you both are a combination
of enthusiasm and brilliance.
So, I would like to give you an offer.
I can give you Rs. 50 lakh
in exchange of 25 percent equity.
I can help you.
Anupam, I'll join you on that offer.
I'm ready to be a part of Anupam's offer.
You both can think about it if you both want to.
It's amazing how they are consulting, right?
The mother-in-law and..
They have no issues
with each other.
Cardboards.
Ashneer made a good joke.
No vessel sounds come from your house
as there are no vessels at home.
- That's true. - I'll use this next time.
So, what is mother-in-law and daughter's decision?
Well, if you both can join us
for 12 percent equity we will fix the deal.
Because initially
we may not be able to give so much stake
to two investors.
I'm finding it tough to negotiate with you.
- Me too. - Isn't it?
You are defeating us with your smile.
But this is business.
So we counter your offer.
We are ready to join you for 20 percent equity.
- Both of you? - Yes.
- It won't go less than that. - Absolutely.
Okay, deal.
- Wow! Right. - Let's sign the cheque first.
I signed it already.
Very impressive.
You both are doing a wonderful job.
- Thank you. - Thank you. - Very nice meeting you.
- Congratulations. - Thank you.
Looking forward to making the best ecofriendly brand.
Pleasure.
Hug.
- All the best. - Thank you, sir.
- We will be in touch soon. - Thank you so much.
Thank you..
Greetings. My name is Pratik Gadiyal.
I'm from Mumbai
and I'm the founder and the CEO of the Yarn Bazaar.
The Yarn Bazaar is an end to end
B to B yarn market place.
Our vision is to make an unorganized textile
industry to an organized industry.
Many technological advancements
happened in the manufacturing side of the textile industry.
But the sales, purchase
marketing, etc are
happening in the old traditional manner.
So, Yarn Bazar streamlines this process.
We are trying to build such a platform
were we make buying and selling easier
by providing a one step yarn solution.
So, I'm here requesting for Rs. 50 lakhs
in exchange of 2 percent equity.
- Pratik, welcome to Shark Tank. - Thank you.
So, how much do you know about this industry?
Textiles is my family business.
After finishing my undergrad
I did my family business for an year.
Then I decided that I don't want to be
a part of the textile industry.
What made you think about
doing this?
Every fabric manufacturing industry
is very cost sensitive.
We have to call multiple suppliers
to know what the best price is.
If the cost is fine the delivery terms may not match.
And sometimes the payment terms doesn't match.
So, there is inefficiency and non transparency in every stage.
That leads to a serious loss.
Which inturn leads to
not being able to sell at competitive rates.
This affects the top line
and the bottom line.
Basically the supply chain is broken.
So, it's good opportunity to streamline it.
Then I launched the Yarn Bazaar.
Can we see the entire model
in this?
Sure, this is our new product which we are developing.
The communication is chat based.
An automatic message goes to the buyer
when we get a message from the buyer.
Our team gives best possible options
for their requirement.
Quality, quantity, supplier information and the price.
They can place an order based on their quotation.
Payment is during despatch.
We can check the order details.
How much was despatched
and its documentations.
Where all the unloading has to be done, etc.
We can see all the history here.
We began the operations in July 2019, just before COVID.
Since then we have
done a total transaction of more than Rs. 12000 Crores.
And they all were advance payment.
100 percent advance. Do you do it in escrow?
We are an escrow ourself.
So, all the transactions are routed through us.
- Okay. - The supplier bills us
and we bill the buyer.
How much transaction was made last month?
What was your profit?
The order size was Rs. 10 Crore
and our revenue was 15 lakh.
Your revenue was Rs. 15 lakh.
So, you take 1.5 percent, right?
Out commission varies from 0.5 percent to 1.5 percent.
It depends on the quality and the quantity.
But once the buyer and the seller meets
why would they give you
1.5 percent?
It is a very commoditized market.
The margins are very less..
That's the problem of this industry.
We noticed that because of
the assurance and quality of service
every buyer had increased the wallet share
our buyers got us suppliers and the suppliers got us buyers.
Okay... - We have processed 1300 orders till date
and suppliers and buyers have fulfilled commitments.
Is no one doing what you're doing?
Not with single industry and product focus.
I would like to declare my decision.
You are solving a problem.
That too for small and unorganised players.
But I don't have an expertise in this area
hence count me out.
- I understand. Thank you. - Tell me about your team.
I am the CEO. Co-founder and COO Vishal Darak
he joined us from 2020 January.
Our backgrounds are similar. His family is into textiles.
He completed his masters in Spain from Ivy Business school.
When we met he never wanted to get into textiles.
- What's his equity? - 20 percent stake in equity
10 percent Esops, spread over the next 10 years.
A total of 18 percent.
- Yes. - Very good.
We have Akshat Doshi, co-founder and strategist
and he was given 5 percent in equity.
Who is from the tech team who manages the app?
It's outsourced. But from 1st Jan a CTO shall join us
Okay... - He has 15 years of tech leadership experience.
He was a leading architect in a leading fintech firm.
Have you given him any equity?
Yes, as we can't afford cash now...
How much? - ...we gave him 5 percent Esops.
- 5 percent? - Yes. - That's not bad.
I have made my decision.
I feel you should've had a technology partner
and secondly I feel traders can ditch the app later.
I mean information arbitrage.
That's their game and they won't disclose it openly.
I don't think I must get into it.
- What is the risk factor? - The product...
If the quality of the product is bad
it could lead to high rejection rates.
As per us there could be a risk of trade finance.
Coming from the industry we know that by sharing the debt
we can work but advance payment is safer.
- True. - We need to build trade finance
but we need to start by building a transaction record.
Another question... You
as far as supplier is concerned
can't you stay a step behind?
I am very happy that you asked me this.
We realised that the buyer is usually looking for good quality
- price and timely delivery. - Right.
They are not particular about
the supplier if you can assure them.
To add to that there are many
tiny yarn manufacturing units in south
who lack marketing bandwidth or branding. - True.
We already have started working on the product development.
We have a few spinning and mixing product experts
where the idea is for these tiny manufacturers
who are doing job work for the big fishes.
They are not selling their product directly.
If we resort to white labelling with them and sell it.
It will increase our take-rate.
- That's when it will work. - Absolutely!
More importantly we'll attain supplier dependency.
True. - We can provide consistent quality to the buyer.
Absolutely! You will control the manufacturing capacity.
When you have the capacity the buyer will line up.
- I have an offer. - Yes.
Anupam? - Yes.
Anupam and I would like to make an offer.
- Ashneer! How about we go too? - Yes.
Ashneer and I like to make an offer too.
- You were out. - You were out.
He revealed the other facts just now.
- Oh.. Okay. - I see..
This is like..
Even we are getting unpredictable. - Strange.
- You came back in. - Yes, I did. My wish.
- My money.. - Let me talk to him..
- So both of us, together.. - Aman..
Let's have a word on it.
Sure. Let's do it.
Pratik, I have a request to make.
Will you please leave us alone for a moment?
- Good one.. - Sure, sir.
- Four of us. - It's okay. Let's do it.
Tell me now. We can't fight over this deal.
- He is stubborn and so am I. - You called me stubborn?
- What do we do now? - What percentage do we..
He offered 2 per cent for Rs. 50 lakh.
So 4 per cent will be for Rs. 1 crore.
Let us decide on it otherwise some one will take the cake.
- I don't do that. - You have done it. I know.
He will seal the deal..
Let me lead then.
Don't make a second offer after making this one.
Show some faith.
- Such drama queens.. - Alright.. - Call him.
Pratik, welcome back. Ashneer will tell you about our idea.
- Great business. - Thank you.. - It is your passion.
You understand the industry.
We need to bring credibility into this story.
We felt that if we approach in groups of two
as compared to approaching individually
your narrative will improve.
You may choose to differ with our point of view.
Secondly, this won't work out with Rs. 50 lakh.
I mean, I do a lot of tech hiring..
I pay
Rs. 50 lakh for luxury sedans every quarter.
Okay? So that won't work. I admit I've spoiled the market.
- That is true. - So we will make
a better offer.
All four of us will make a bid. Aman.. - Four..
Myself, Piyush and Anupam..
All four of us coming together is a rare event.
- We usually fight over it. - You people are seated..
- It's been done on purpose. - It looks..
So.. We will give you Rs. 1 crore.
Are you serious?
But we seek 10 per cent equity.
The reason being, this will demand a lot of hard work.
Also it is risky.
You need to take a call. You are a decisive guy.
Sir, thank you so much. All four making this offer to me
is a confidence booster for me. Perhaps my vision is something
you connect with.
You said we'll seal the deal on Rs. 1 crore.
With Rs. 1 crore we may not get enough mileage that would help.
Between me, Anupam, Ashneer and Aman
I don't think there is any venture capitalist in India
who is not collectively invested in four of us.
If anyone among us says that
you should get this and you should be heard
I guarantee you
your proposal will be heard
- with great attention. - No question about it.
Pratik, I am out but this is a great offer.
I am interested but if we can raise the valuation slightly
- to Rs. 1.25 crore. - Pal, listen.
Enough of talking. The offer is on the table.
Take a call.
Take it, Pratik. It's a great deal.
- Okay, sir. Let's have a deal. - Alright..
We'll do something big. Good stuff..
- Good.. - Thank you. - I am mighty impressed.
- Are you crying? - No.. - Please don't cry.
- No, it's nothing to cry.. - We connected with your vision.
Let's disrupt the textile industry. - Yes! - Nice..
Means a lot. I will keep this with me.
- Good.. - Here to change.
- Good job. - Good decision, Pratik.
You pushed me, ma'am.
Say it again..
Ms. Namita pushed me for it. She was a crucial factor.
- Good deal. - Alright.. - Superb. It was great fun.
I am very happy to be a part of Cara Green. Love the name.
I have made many investments. The idea
is a great thing but at the end it is the entrepreneur.
- You are betting on the person. - That's how I built Lenkskart.
You know, I would buy a lot of glasses..
Try them on, break them.. Single-handedly..