'Welcome, everyone to the final match of kabaddi tournament.'
The table is there to keep the folders.
There were lipstick mark on my glass.
Your glass? I can't even reach it.
His allegation is justified. But how can you allege
unless you drink from my glass.
It is like saying, the sugar is non-spice. - Standby, please.
Hello, Sharks. The AC is full on but still it is warm.
- Shall I have some water? - Sure.
It is dirty. There are also fingerprints.
There are lipstick mark on it also. - Is it your glass?
- Sugar cosmetics? - Yes.
Sugar cosmetics is transfer-proof.
It is Aman's glass.
It must've happened with you also when you visit a hotel
a restaurant, an office party or a kitty party..
You might've ordered a drink
and the rim of your glass is not really clean.
So, Sharks, this is my solution
Sippline Drinking Shields.
Sippline is a sterilised
reusable and a portable attachment
which will fit your glass and when you're drinking
your lips is not touching the glass, directly.
Now, the dream of Sippline is..
The way we're used to masks
the same way, the world should also use Sippline.
This is basically, the mask of your glass.
I'm asking for Rs. 75 lakhs
for 15 percent Equity from our company.
- So, Sharks.. - I am out. - Sorry?
- I am out. - Even I am out.
What are you trying prove, pal? Is this some kind of a joke?
Do you drink too much?
I mean, how could you get such an idea
of making a glass wear a mask? - Okay..
I got the idea because I faced the problem. - Problem?
One can also use a straw in a restaurtant.
Does this product exists abroad?
Ma'am, this is the first product in the world..
It is the first and last product!
Nobody will ever try to make such products.
- I've strong views on it. - Okay.
- Actually, you're standing here. - Yes.
- Nobody else is standing here. - Okay. - At least, value that.
I'd say, this product..
I've never seen such a disgusting product
nor I want to see it. God forbid, it's a bad product!
After this, I don't want to see anything else in life.
I respect your thoughts. Not you but many think
this is valuable.. - No. Maybe tipplers
who are fussy will not have problem with this product.
Why is there a double 'P' in your brand?
I didn't want to keep double 'P'
but website address compelled me to add one more 'P'.
- It sounds better. - Nobody can trace your website
- if they use the normal spelling. - They'll find it, ma'am.
- Sippline only has one product. - Nobody wants to search for it.
Just a moment. Let's bring it all back.
For you, this is a problem which you want to solve it, right?
- Why only during COVID times? - No, sir.
Actually, I'd made this in 2016
but I launched it when COVID struck.
What we say Covidpreneur.. Which we call..
Not really a COVID product.
It avoids cross contamination of any kind.
What was your sales last month?
Till now, we've sold 1200 pieces.
I agree, sales are less. There are four reasons to it.
First reason, there is less awareness.
Second, we jeopardised the marketing.
The messaging which we wanted to convey
we really couldn't pass on that message.
Third, the sales guy I'd hired
he was on and off on medical leave.
So, I didn't get the business continuity.
Actually, his sales person used to get thrashed by prospects.
- Then, he used to go on medical.. - Nothing of that sort, sir.
- What I said, is right. - New concept needs awareness.
Let's cut short the joke.
When we all started doing business
people used to mock us. So, don't get discouraged.
You don't seem to be a person to be discouraged, right?
Of course.
I'd like to say, if the idea had been good
then, with very minimum marketing, it would take off.
You're not getting sales
because there isn't a need or a demand.
For that reason, I am out.
Think from your consumer's perspective.
The name of your brand..
You didn't get any website or any trademark.
So, you kept this complicated brand name.
You are not thinking from the customer's perspective
that what he wants.
You are not concerned that the finicky customer
will not remember it when he will go to any restaurant
that he needs to carry it with him.
If he is finicky then he will ask for a straw.
Most of the people don't even think about it.
So, for that reason, I am out.
Let me summarise for you, my friend.
I do not see any other customer except Aman.
Because Aman faces this problem daily.
So, he will buy it from you.
Secondly..
This is called a solution looking for a problem.
And if you want to change this habit
then it will take millions and millions of dollars.
And you should invest that kind of money for a product
which you can defend.
There's no defensibility in this product.
If it works then there's no differentiator.
There will be knock-offs everywhere.
It is only a plastic ring around a glass.
So for that reason, I am also out.
And unfortunately, you don't have an offer today.
But sir, the scope in this is unlike any other business.
If you feel that then prove us wrong.
Go out and prove us wrong.
But we don't think this will work.
All the best.
- Thank you. - Thank you.
- Thank you so much.. - Thank you. - Bye.
'Welcome, everyone to the final match of kabaddi tournament.'
'The two teams who have reached the finals of this tournament'
'defeating all the other big teams are..'
'Anupam Ke Ajoobe'
'and Vineeta Ke Warriors!'
'This is going to be a very thrilling match.'
'It will raise your heartbeat for sure.'
Vineeta's warriors are up against 'Anupam Ke Ajoobe'.
Vineeta's warriors are leading by one point.
Final moments of this game.
And 'Anupam Ke Ajoobe' have Omraj
raiding for them.
Looks for the far side.
Comes back to the middle.
Looks for the cover and then jump off the chain.
Fantastic!
'Anupam Ke Ajoobe' are back in the match.
Final raid of the encounter.
The scores are leveled.
This is what it comes down to.
The champion of 'Shark Tank', right here.
'Anupam Ke Ajoobe' have Omraj.
- The defense got to go. - Go!
It's huge crash.
He is off court. And it's a win
for Vineeta's warriors.
This is history being created
in 'The Shark Tank'.
- Boys, well played. - Well done..
Sharks, did you enjoy?
- Indeed, we enjoyed a lot. - I am glad.
You just saw a small glimpse of why kabaddi
is gripping the nation completely
over the last few years as well.
But kabaddi is a game
where you need a piece of land and some people.
This is India's game.
And this is a 4000 years old game.
But India's game has come back in an all new avatar.
It's back with a bang as well.
And it is today India's second most watched sport.
50 crore people are watching kabaddi in our country.
So, I am Suhail Chandhok.
And I have Arvind Sivdas with me.
And we are the co-founders at 'Kabaddi Adda'.
So, 'Kabaddi Adda' is a platform
where we aim to bring kabaddi to the screens
of every Indian household, every day of the year.
How do we do this, Suhail?
We do this with the use of our three pillars of foundation.
Our first pillar is our content and distribution platform.
This is our base platform.
Our website and our social media handles.
We have more than 1.5 crore views.
And we have more than five lakh engaged subscribers already.
Yes, absolutely. And that's a huge number
for us already. Our second pillar is..
It is obviously our tournament in a box.
That is our tournament suite.
Here we spruce up the existing local kabaddi tournaments.
We give them relevance.
We bring viewers for them.
Most importantly, we bring revenue stream.
And our third and latest initiative
is our very own tournament, the 'K7'.
So, 'K7' is an asset that we own completely.
You know, it's 83 games in our first season.
For us, it's really a platform, a product
where we wanted to give a platform for youth talent
to showcase ability, to showcase talent.
20 players have already received contracts
in 'Pro Kabaddi' franchise.
That's more than 10 per cent of all the players
that were picked up in the recent kabaddi auction.
And that's for us is a huge heartwarming fact.
Even for these boys that have come through like this.
This is what we are doing.
With 'K7' and Kabaddi Adda'
we are transforming lives through the power of sport.
And Sharks, we are here to ask for 80 lakh rupees
for one per cent of our company
as we would like you to raid with us
as we take Kabaddi to the world.
I want to introduce Arvind to my entire panel.
So, of all the passionate about sports people
in the world that I know..
I think Arvind's probably on top.
He is my batch mate from IIT Madras.
And both of us used to play inter IIT sports
for IIT Madras.
And his wife, Dhanya..
She was my badminton partner.
And we won gold medal for IIT madras together.
Wow! - She is also a co-founder with us.
- Dhanya.. His wife is also.. - Wow! Okay. She also there.
Three of us. - She's our third co-founder. - Okay..
Awesome! - Did you know that they were coming?
No. I had no idea.
- In fact, I.. - We kept it quiet.
That's why you made her team the winner.
- Of course.. - We will give you a chance.
- If you want to play.. - You have a choice.
- You can win it for your team. - We are ready to make
you try. Would you like to try an ankle hold?
- Kabaddi? - Yes. - Yes.
- They will.. - Of course. - Do you want to try?
- Come on, Aman. - You can.. Your team can win.
Come on.. Let's go.
- Okay, let's go. - Aman, let's go.
- Who was cornered? - I don't know. - Defense.
Aman, think before you go.
You have a chance, Anupam.
I play only to win.
Which team is going to be the winner?
Right now it is going to be one against one.
We must win.
Why am I feeling like this is going to be a wrestling match?
Careful, guys.
Let me tell you one thing. Don't beat me. - No. Understand.
Once you catch him don't leave him.
Fine, let's do it.
- Sorry, this is not needed. - This is not boxing.
If this boat can ride the way better be great.
Don't give up.
- Kabaddi.. - Where should I go?
You should touch that line and return.
Okay. - That's very easy.
Don't give up.
- Quick.. - Go for it.
Touch few and get out.
Like this, right?
It's a tie. Well done. It's a tie.
Oh! Now it is equal, right?
Anupam, this was for you.
We made it a tie so that it is a tie in the marriage as well.
Thank you.
- Always equal. - Thank you so much.
Do a thigh five for our sharks.
One. Two. Three.
Thigh five.
Thanks boys. Thank you.
Well played.
Thigh five. I like that.
Indian are passionate more about Cricket.
First you tell me. Who among you
came up with this idea
and how?
Now India is not only about Cricket.
People are passionate about Cricket and Kabaddi both.
I had been involved with Pro Kabbadi league
since 2014
as a presenter and commentator with them.
When the first match began
in 2014
and the live match happened
we knew that we were on to something special.
I'm getting goosebumps now
because that day Mr. Amitabh, Mr. Sachin
Mr. Amir and all big celebrities came to watch the sport.
We didn't know what's going to happen.
I remember many saying what's next, Gilli Danda league
or Kho Kho league?
But everyone was proved wrong.
Including I'll say myself.
I was a professional cricketer
eight years back.
I never imagined standing here today as a
Kabaddi co-founder or a Kabaddi commentator.
- Let me be honest with you. - You said you were a cricketer.
Yes. Unfortunately when I
had an IPL contract in my hand back in 2009
I had my first surgery
on my knee in 2010 January.
- Sorry to hear that. - I had subsequent surgeries
in 2012 and 2014.
So, I had three knee surgeries.
And I had to give up that dream.
But in some sense
Cricket is still my first love. - Yes.
But Kabbadi has become life.
Nice. - In that sense, it has given me a second innings.
He met his wife through Kabbadi.
I met my wife through Kabbadi.
As they say to achieve something we may lose a few things.
Now let's talk about the numbers.
Tell us about
your sales
because your valuation is very high.
- Of course. - It's Rs. 80 Crores.
In the first year we achieved Rs. 24 lakh revenue.
In the second year we achieved Rs. 50 lakh revenue.
This year so far we have
reached Rs. 1.2 Crores revenue.
We will do about Rs. 2.5 Crores.
And for the next year we have signed contracts worth
Rs. 10 Crore to Rs. 15 Crores.
But does this bring profit?
We are the proof that it brings profit.
How much?
Gross margin is about 80 percent.
About 40 percent of the revenue we earn
is invested in the ecosystem.
It's a 30 to 40 percent gross margin business.
So we are actually profitable.
Is it 80 percent or 30 to 40 percent?
80 percent is our gross margin.
- 30 to 40 is net profit. - Yes.
Let's break and understand
how you are making profit.
You said you'll conduct 500 matches. - Yes.
How much will you earn per match?
Okay. Rs. 3 to Rs. 5 lakh revenue for every match.
Who is giving you Rs. 5 lakh?
It is split.
The majority of it comes from our media parter.
IPL rights get sold.
So, Star Sports buy rights to showcase it on their platform.
So, these 500 matches will be telecasted on TV.
OTT.
You'll be paid by Disney Hotstar or similar such companies.
Yes. - Correct. - What's the profit source
if we exclude the TV rights?
Sponsorship is definitely one aspect.
But fantasy becomes a massive revenue stream, right?
And today, if you see
we have two unicorns on fantasy alone.
And on every fantasy. - They can have it on your match.
The data comes from our side so data is owned by us.
We biggest player of data for Kabaddi today.
Arvind and Sohail, my husband and I run a basketball league
- In Pune. - Wow! - Under YEA banner.
And my sons aged 15 and 10 are very passionate
about that league.
And we have been doing it for past three years.
Secondly, the fact that you encourage an Indian sport
- at a grassroot level is great. - Thank you.
I have an offer for you. Eight million for five percent.
- Wow! - Wow, thank you!
- Just to give you one addition. - We just closed funding round.
- And Shecapital is come on board. - At what valuation?
80 Crores pre-money. 100 Crores pre-money.
How much did you take? 20 Crores? - Yes.
One of the parts of the pitch was to grow women's Kabaddi.
There were no investments for women sports.
We created Mahila Mondays.
From January for next six months
every Monday we have four games of Women's Kabaddi.
- Really nice to hear that. - I like Mahila Monday.
- Yes. Mahila Monday. - Has a nice ring to it.
Why did you come here offering a one percent stake?
We want to get sharks on board
as need help in brand building.
And for now we have the product but no brand.
I believe it is very difficult to make money here.
Kabaddi is different but I feel
that you are not here for money or for Sharks
but you are here to promote your league, all right?
As you already have 20 Crores from Shecapital
and all the support and branding you need
is being given to you.
Hence due to your valuation
- I am sorry but I am out. - Sure, thank you.
But we are here with a clear goal.
Fair point.
- Namita, can I speak to you? - Of course.
I have invested heavily in sports of late.
So I value sports.
For a business.
But what you are doing
is I still see leagues as a club. - Right.
Correct. - It is more of a show and game for fun.
I understand. - I do not see any business here.
So I am out.
- Sure, thanks. - Speak to others. - Thank you, Ashneer.
Arvind, Sohail, you have a good valuation.
And you know we need to know it better
and so for now I find this to be very early
so how I can help you? You need to develop further.
I can leave it on them. I am out for now.
- Will you be our sponsor? - Yes.
We'll come back to you for sponsorship. - Yes.
You will not need it. We will come to you.
- Thank you. - Thank you.
You have two sharks. Women.
Vineeta and I can come together.
But since we bring different strength as each
and my acumen be my experience
be it financial terms and operational terms.
She has built a brand and good consumer outreach
but for the expertise we bring
we seek six percent for 80 lakhs.
So we get three percent each. Skin in the game.
Thank you, you both bring different aspects.
We bring very different sides and we appreciate that.
We have a counter offer.
1.2 Crores for five percent?
We all know that revenue here is long term.
Yes. - We speak of a decade ahead. - Exactly.
- We cannot go below six. - Okay.
Will you be willing to do one crore for six?
No, I am sorry. We should stop right here.
- Go ahead. Tell us. - We have been very clear.
Yes or no?
Six, we have to give so how much?
We'll structure it separately.
Between you and myself..
Let me give a countdown here. Ten.
- Yes. - Nine. - Come on.
Speak forth. - Namita and Vineeta.
It is a deal.
- Thank you. Good luck. - Congratulations, guys.
Very nice to meet you.
I am really missing my friend here.
- We should've been in the middle. - I am so excited.
Awesome, I am super excited about this.
Looking forward to work together. - Thank you.
- Thanks a lot. - Congrats. - We will need you.
We will get in touch.
- Thank you. Thanks. - Bye.
- Yes? - Nice.
Vineeta, we did a deal together.
- Awesome! Super excited! - Super! Super!
- Hello, Sharks. - Hi, Sharks.
- I am Nidhi. - I am Anuj.
We are founders of shades of Spring.
We have come here from Bengaluru.
Since ancient times, flowers have been gifted
across the cultures as a popular choice of gift.
Be it an occasion or a festival.
Or marriages.
Or any expression of emotions.
Flowers make things special.
If you get a flower for no reason
then you get a smile.
You are here for a reason, right?
- Not yet certain. - Right.
- Thank you very much. - They are beautiful.
Thank you, they are lovely.
Thank you.
I have never seen this before. Is this a husk?
- Pampas grass. - It is a flower?
Strange! - Matches with my dress.
You need some more.
- Here you go. - Thank you.
Global gifting industry is of 50,00,000 Crores.
And flowers are the main anchor product.
But where is the company that deals in flowers for us?
One that we tell our friends about.
What company will combine brand and florists?
The supply chain and sourcing?
And tech and data.
So we get exotic flowers every month and every season.
Think no more. Presenting Shades of spring.
We bring to our customers
300 plus varieties of farm fresh flowers.
Our flagship product is DIY flow subscription box.
One we innovated in 2019.
And here you get flowers
within 48 to 72 hours of harvest
from farm to your doorstep.
And they stay fresh in your home for more than a week.
For Rs. 350 per delivery.
You need not go elsewhere for your favourite flowers.
Because we are just a click away.
So Sharks who is willing to invest
in worlds best gifting flower industry.
We are here to raise three crores
for one percent stake in our business.
Wow!
I am shocked.
The fragrance is now gone.
Do you know the valuation?
- Yes. - How much? - 300 Crores. - Yes.
So you must have a revenue of Rs. 100 Crores.
Our revenue for this year is of nine crores.
- Wow! - Not bad.
Not bad. - Last year we did two and a half Crores.
And first year on WhatsApp we gained five million.
What is your margin in this?
Gross margin is 29 percent.
Is this not less for this industry?
It is fresh produce industry. Margin should be more.
I find the valuation to be very steep.
A valuation of 300 crore on revenue of nine crores?
It does not fit by any multiple.
We held this valuation because..
More than 75 percent of revenue is from Bangalore city
we have projected growth for future.
We did through discounted cash flow.
We have heard it many times.
I can give you a spreadsheet of discounted cashflow
and you will not understand a thing.
Let's not try to fake it till you make it.
Forget how evaluation happens. One should have rough idea
about what a business is worth. Well..
You own a 9 crore business. if your margin is 30 percent
you earn 3 crores a year.
For 3 crores you don't have a 100 times bid, either.
It's a gross margin multiple.
So hundred times? If you do not grow
and invest at this evaluation
I'll recover it in 100 years.
Business isn't just selling your goods.
You must have a general awareness of the market
and if you ask anyone for anything
you should know if you'd look smart or foolish.
I'm really sorry. You looked like fools in this.
I respect your business.
Selling 9 crores worth goods in India is difficult.
Be it any item. I respect the business.
But I'm really sorry. You lost me on general awareness.
Your problem is you're in the flower business
and think others are fools.
Your evaluation of 300 crores makes it clear.
It's not evaluated so high.
It has no evaluation because it'd be okay
if you got anything logically.
But I'll be a fool to give you 300 crores.
I'm sorry to say, I'm also out.
Two sharks are out and it's because
you put the evaluation so high that everyone was baffled!
You threw a few big words.
Data, subscription.. I wish to know about it.
But first tell me when you started this
and how you know each other. Give some background info.
- We met on Shaadi.com. - Wow!
Well done! - He's even wearing purple like you.
- Yes, we match. - Even their brand colour.
Purple.
I meet a couple married on Shaadi.com almost every week.
- That's so great! - Great to meet you this week.
Deal done. Give the money.
So your currently revenue of 9 crore..
How do customers find you?
And what sells the most?
Our 50 percent revenue is through subscriptions
where customers give whole revenue upfront.
We have a subscription box. I can give you a demo.
Okay.
- So this costs 350 Rupees. - Yes.
Every box has instructions.
It states what you have to do.
So it's self-consumption. If I want fresh flowers at home
- then I'll get these. - Yes.
- This is not a gifting business. - 80 percent is self-consumption
- and 20 percent for gifting. - But how does gifting work?
- Do I need to put a ribbon again? - You can visit our website.
There you can buy a gift subscription.
- Do I send this box to someone? - It's a six month subscription.
But in India people might not like this.
You can buy a bouquet for Rs. 600.
But you send this instead. Isn't it a bad gift experience?
Actually, the thing is
you can gift an average bouquet worth 1500
but with this you send them flowers for a month at that cost
and hence people like it so much
since it goes on six months.
- You sell one box for Rs. 350. - Yes.
But you're gifting the subscription, not the box.
Yes. - Neeta, can you get it on your way back? Thank you.
You asked us what our revenue is.
Our margin for subscription is low at 20 percent.
We have a bigger margin in bouquets. 40 percent.
Revenue is split 50-50 percent between us both.
So the idea is simple. When people get a subscription
they know what flowers are like at 'Shades of Spring'.
During a gifting need in future they'll come to us.
It's really attractive for Rs. 350.
Because such fresh flowers at that cost
is hard to find.
So I understand how this gets 50 percent revenue for you.
But those consumers who are into
such specific things are niche.
It's a tiny market in India.
Mostly rich people have fresh flowers at home.
Unfortunately most people have plants at home
or have artificial flower decoration.
I think it's a small market.
Another problem with subscription is
very less such businesses could be scaled in India.
Right now you're doing it in Bangalore
after cracking this price point
and Bangalore has most early adopters
who can go for tech subscription currently.
But I doubt this business can go beyond 15 to 20 crores.
Ashneer.
- Thank you so much. - So, the situation is
three Sharks are out. Two are left.
- What would you like to do? - Same reason..
A valuation of Rs. 300 crores is extremely high
for this business. So, I'm out. But all the very best.
Thank you. - I think, you're doing too many things.
What hasn't been proved in such a small business in India
sometimes, you've to do vertical integration.
But from supply, importing
B2B, B2C.. You're doing everything.
I think it is complicated with a not clear growth strategy.
As you two met on shaadi.com, I'm saying it nicely
even I've to be out of it. I wish you all the best.
And I hope you prove us wrong.
But today, you don't have an offer.
Thank you. - Thank you, Sharks. All the best. - Best of luck.
- All the best. - Wish you luck.
Come on! Valuation of Rs. 300 crores. - 300 crores!
- That looks nice. - Nice.
Wow! I got to see something different. - Yes.
Greetings, Sharks. My name is Mayank Pareek.
I'm 30 years old and I'm from Bangalore.
Birthdays hold a special importance in our lives.
My 24th birthday was going to be very special..
The plan was set to go to Singapore with the MBA batch.
Nanyang University.. Immersion programme
Birthday celebrations.. I was extremely excited.
But unfortunately, something happened
where I'd to drop out from my college.
My education loan was not approved.
My family wasn't financially sound
so that to mortage property or an asset.
For this, my loan was not approved.
I think, there are so many people like me in our country.
The sole reason was financial crunch.
When I started to search, I came to know
that is a gap between students who need help
and scholarships which are available in our country.
So, there had to be a solution.
As we know, CSR is booming in our country.
In the last five years, it has touched one lakh crore.
I saw an opportunity and decided to bridge it.
And that is when, I launched my product 'Scholify'.
Scholify is an online platform
through which we match students with available scholarships.
That too, in only three steps.
I saw a gap where there isn't any awareness
the process is difficult for children how to apply.
So, I decided to do this through my app.
Just with one click
they can apply for any of their favourite scholarships.
So basically
neither one has to fill long forms nor to upload.
Scholarship will be at the tip of their fingers.
Last year, on our platform
we registered around 7.5 lakhs users.
Our mission is that, with Scholify
with an impact and social enterprise
we dream of becoming India's unicorn company.
So, Sharks, for my company's growth
I'm asking for Rs. 50 lakhs against 7.5 percent Equity.
- Something is bothering me. - Okay.
You said, you want to be the unicorn, right? - Yes.
This is a fad. Do you know what is fad? - I understand. Yes.
- Stop racing for the unicorn. - Okay.
We aren't unicorns. We might be one by God's grace. - Yes.
- But we don't start for that. - The purpose to start
- is to solve the problem. - You said, you want to be
- the first unicorn in this space. - As an aspiration.
But don't keep the valuation as your aspiration. - Sure.
Building value will attract valuation, okay?
Absolutely. Absolutely.
- Are you into business.. - Yes.
- Or into CSR? - Purely into business.
- It is a profit based company. - If I'm a student
and want to apply for a scholarship. If I'm a CSR
I'll pay money for helping consumers, right? - Yes.
What is your revenue model? How do you earn money?
Both are separate verticals. The license we offer
to corporates for the implementation of CSR
for that, we charge a license fee.
We've also introduced a subscription model
for our students which has been economically priced.
The important feature is that
every quarter, we conduct scholarship test.
This is available for paid users.
Let's say, this is 75 percent of the revenue system.
25 percent.. - Is 75 percent B2C or.. - B2C. Yes.
- What is the revenue? - Till now, we're pre-revenue.
Now, your revenue is zero.
How many scholarships are being given in our system?
Around 2200 children have got scholarships last year.
What is the value of the scholarship? - 4 to 5 crores.
- How much did you earn out of it? - Nothing.
Very nice.
Instead of taking SaaS from corporate
can't you take 10 percent commission on scholarship?
We did a small campaign
due to which, in one week without any marketing
organically we got around 200 users
who bought the plan without seeing anything.
That was a proof of concept
that if our price is less, we are adding value
and giving add-ons with it
so it becomes a worthwhile deal for students.
Are you only doing scholarships of India
or are you doing it globally?
No, we are focused on India.
What is the value of total scholarships in India today?
Last year around 2667 crores scholarships were dispersed.
In that, the marker place maker
the one playing in the middle
since this is the work of CSR
I don't think you can go to 20 percent. - No.
- You can take 10 percent at most. - Yes.
The industry size will determine your size. - Yes.
Even if you take-up 10 percent out of it
so you can acquire around 400 to 500 crores.
Is the industry so big that you can make a Unicorn?
If not, have you thought about student loans?
No. Personally, I'm against it.
If I offer student loans
then it goes back to the same things.
This is people who don't have properties
who can't pay loans..
But I don't understand as Mr. Ashneer said.
- To be honest. - Okay.
What's the problem with taking a loan? I took a loan too.
I did my MBA with a loan.
They held my degree as mortgage
until I pay the loan, they won't give me my degree.
It took me five to six years.
I earned from my job and repaid the loan.
Why are you against it?
It has a market. I'm saying that there's a market for this.
I went on an exchange programme to France.
I got a scholarship from French embassy.
It was luck.
There's a market, but you are thinking about it as a business.
The best scholarship scheme in India
was run by a restaurant. That is Nirula's.
When we were young
if you score more than 90 percent
take your report card to Nirula's
you would get a chocolate fudge
and you would get a stamp on your report card
by Nirula's.
- They were acquiring customers. - Yes.
What are you doing?
You're saying you want to give scholarships to several people.
Yes.
And there are plenty of kids who should get scholarships. - Yes.
So you're making a platform
- that's a good idea. - Yes.
Nobody has pitched this idea to me yet.
But you can't make a big company with this.
You are acting like a payment gateway.
You're saying the one who gets the scholarship
they should pay the fees.
You must change the model.
First, he said that one who gives the scholarship
take commission from them.
Secondly, think about the ones who are not getting scholarships
how will they benefit from your platform.
Do they get any benefit from it now?
7.5 lakh students have filled their details on your platform
you've acquired them
you have to think about monetizing that.
That's the simple point he's telling you.
What is your tech team? Are you the only one?
I began about three and a half years ago.
I had a friend who'd be the cofounder
we had some differences..
We were at a Company at Gurugram
and we were about to get the deal
and we were showing them the demo and it did not work
we went the next day and the same happened.
It did not work and co-founder did not respond.
So there was trouble, I do not know coding.
It took some time to build trust and get someone on board.
Eventually I was called at a college in Gandhinagar
for an event as a panellist.
I met few kids and I hired three interns from there.
And with them we made the code
and we built the product from scratch.
Dad still asks me what became of this app of mine.
I said I am working on it and he is not impressed.
He is worried to have me married as a typical Marwari family..
I'll be blunt now and give it to you.
This is a real problem but you cannot crack it.
There is one simple reason.
Tell me something.
You said you can get scholarship from Corporates.
That goes to the students.
Had it been so simple and easy for the system
then you could have a scholarship
to get you someone to do your coding.
First you must solve your own problem.
I think you must get a job first.
You need to understand what business is..
You want to be a unicorn? You cannot do it.
Quit, and stop wasting your time.
Let me tell you that this screen..
It was the highlight before you came in.
And then all went downhill.
I am out of this for now.
I could not understand your business model.
I cannot determine your market size.
And how will you earn from it?
- I am sorry, I am out. - Sorry to hear that.
- I wish you all the best. - Thank you.
You need a lot of work. I am out.
Mayank, 'Scholify' is a good name.
Get it trademarked. I did not understand the model.
You seemed confused and I am out.
All the best for your business.
Thank you.
Mayank, I love your resilience.
And I am very inspired.
I think nothing is more crucial than being an entrepreneur.
I hope you get some revenue and then come for fund raising.
Absolutely. Thank you.
- Thank you. - Best of luck. - Thank you.
- Good luck.
Ashneer.
Can you please sugar-coat it?
I wanted to say the same but you said it.
That he cannot do it?
A question, if we have choice
we can they cannot scale it.
But he can do a small business.
- Directly being harsh is wrong. - Did you see his goal?
Do you see his goal?
Sometimes you are nice to people by not being nice to them.
Today I have scolded him
and I did the best for him.
You could be gentle. - We hope he proves Ashneer wrong.
- Even he hopes that. - Yes.
- But there was no business. - Yes. there was none.
It cannot grow much.