What if Shark Tank never came to India?
Maybe Jugaadu Kamlesh would be busy finding quick solutions.
Shark Tank India is an opportunity.
Yes!
It's a door leading from your dreams to reality.
And the door's opening again in this season.
Acko presents Gateway to Shark Tank,
has given entrepreneurs all over the country,
to come on Shark Tank India,
present their business to the Sharks and win their trust.
Did you know the four pitches chosen from 23,000 entries,
who will present their business to the sharks...
My name is Krishnav, age 22.
I started my first venture at the age of 17 from my school.
And this is my second venture which I've brought to Shark Tank India.
We've brought Store My Goods
which is a tech enabled one-stop storage solution,
where any customer can use our storage services
from any corner of the world, on a click of a button.
Devnagri is an AI powered human translation platform,
which provides translation to 12 Indian languages.
We present to you French Crown.
India's first fast fashion brand in men's wear category,
with zero dead stock.
And whoever's business is the best, the sharks will invest.
So in Acko presents Gateway to Shark Tank,
the five sharks who the pitchers who are going to pitch their business to are...
Shark Peyush Bansal.
Shark Vineeta Singh.
Shark Anupam Mittal.
Shark Namita Thapar.
And Shark Aman Gupta.
You know what,
sometimes I get this feeling which is too good to be true.
Your business seems too good to be true.
Your valuation is out of the stratosphere.
You've come here to establish a valuation benchmark.
The business you're currently doing is a services business.
I'm not clear about what your services are.
We'll find out once we go out, okay.
- Yes, so... - So tell us what the catch is?
Welcome to Shark Tank India.
Co-presented by UpGrad, BlackDog Soda, and Acko.
Co-powered by Flipkart.
Payment's partner Cashfree Payments.
Technology's partner Dell Technologies.
Eyewear partner Lenskart.
Our sharks are ready inside. So let's get started.
Hello Sharks. My name is Krishnav, age 22.
Born and brought up in Delhi. And I love to work.
So Sharks, I started my first venture at the age of 17 from my school.
And this is my second venture which I've brought to Shark Tank India.
You must have heard, every home is known for their toilet or bathroom,
similarly a person is known by his shoes.
We're presenting our brand Sneakare.
Sneakare is a brand that offers you complete
shoe care and storage solution.
Whether your shoe's worth 50,000 or 5,000,
we've a solution to all your problems.
So Sharks I ask for two million rupees
in exchange of 5% equity of our company.
So who is ready to elevate the shoe industry,
and to become the Bachchan of shoe industry.
- Wow, what an intro. - Thank you.
- Krishnav. - Yes sir.
Welcome to this very-very special episode of Shark Tank.
Thank you.
So tell me you said you started a business at the age of 17.
Where did you get the inspiration,
and what happened to the business?
I'm a Modern School, Barakhamba pass out.
During the class 12 farewell
the entire batch stitches new clothes for themselves.
Okay.
So our seniors couldn't arrange the material of good quality.
I said give me two days. Let me try.
From here it started.
I completed around 550 hoodies. And earned around 15,000.
They liked my quality and slowly DPS, Spring Daze,
- I continued doing this job for several schools for two days. -Wow.
Till 2019 I used stitch 80% clothes for Delhi University's North Campus society.
But with lockdown in 2020 that business closed down completely.
But how big did the business grow?
I was earning around 200,000 per month.
- Meaning around a million in a year. - Yes.
- At the age of 18-19. - Yes.
Very nice.
And where did you graduate from? Same place?
Graduate... I'm still in college. 3rd year Delhi University.
Delhi University. And what are you studying?
B.Com Honours.
And I'll finish college in three months.
And you're still restless.
Your exams are due in three months, but I won't sit idle.
- I'll do some kind of business. - My exam is on business studies.
- We do accounting in this as well. - Amazing.
I sell this the entire week and do accounting on Sunday.
So it's manageable.
- I study a week before the exams are due. - Amazing!
How did you think about it?
During the lockdown of 2020 I called my friends for jogging or cycling.
Whoever I called they were either buying sneakers at Nike, or at Adidas.
So I didn't know what's happening.
No one's focused on fitness, they are only buying shoes.
One day I told my friend to come over and explain me what this is.
He showed me Instagram,
pages where they resell about which I knew nothing.
For a month or two I studied what this market is.
And then I checked photos on Google and understand
care and accessories is a big industry.
Because when we're buying expensive shoes,
everyone would like to store, organise, and display them.
Since then Sneakare begun.
- Great name by the way, love the brand. - Thank you.
- What do you sell? - These are the crates.
These are our hot selling products.
We began with these. With the 250 crate.
- Wow. - This is a DIY crate,
you can assemble it according to the instructions.
- So it's not available in IKEA. - No.
It's available in IKEA for babies, but for baby toys.
- Yes. - But he will break it.
You can stand over it. I can challenge that.
You can keep your feet here and here. It won't break.
- Yes, yes. - Keep it exactly there.
- Here. - You broke it.
- Amazing. - I'm here. I'm here.
It's a big liability.
- Careful. - Don't worry.
How much will Sony charge if a Shark gets hurt?
Now dance on it.
- "Disco Deewane..." - The weight is fair enough.
But it will break if I stand in the middle.
Because there's no support in the middle.
Anything will break.
You also send cleaners other than storage.
- Yes. We just started... - Shoe cleaners.
There are two categories.
- Storage and... - Care and Protect.
Okay.
The need for storage... Even I buy sneakers.
I put it in the cloth that comes with it and keep it in the boxes...
There are people who love the shoes that they buy.
They put their shoes on the wall in front of their bed.
They can select what they want to choose.
If you keep it in a bag you'll have to open each one of them and check.
You're right. But isn't it a small market?
I know because two-years ago I went to Dubai.
A friend called me over for a party.
As soon as we entered, there was an entire wall on the left,
where he had kept all his sneakers. I mean...
There are more than 50 customers
for whom we've created an entire wall in Delhi.
- Yes. - Amazing.
I've seen this.
I'll show you some more products if you allow me.
Yes, of course.
These are sponge.
- And this? - Wipes.
- So you're making all this in China? - Yes.
Is this exclusive manufacturing or do you buy it from a trader?
We purchase from factory
because right now we've to establish market and branding.
When the branding is done and sales is good in volume,
we'll also start our own manufacturing.
And for the cleaners we're all set to launch our Indian cleaners.
Why is everything so expensive? Everything is like 1000...
That's the Mrp.
The original prices are different.
This is a sole guard. It can be attached under your sole like this.
So there's nothing sticking to the bottom when you're walking.
You can easily peel it off like this.
And your sole is good is new.
- Wow! - Wow!
But this is good for expensive shoes, so that you can...
- No... - So you can resale it.
People buy Zara shoes and apply this on them as well.
I see...
Is this your own innovation or is it available in the market?
It's available in the market, we launched it under our brand.
Just last week I bought some Sneaclean brand from Amazon.
Same wipes were available for 599, and I got 20 wipes.
We're giving 24 for 500.
Wow...very good.
- Do you do all this alone? - Okay deal.
- Yes, sir. - Single, one man army.
I have four more people.
They are my team. But I'm the sole founder.
Do you do this from home?
I did it from home during lockdown.
I did the packing, put tapes on 250 boxes when I started sales.
Now we have two warehouses and one office.
- And you're 22-years-old. - I am 22.
- Amazing, boss. - Well done.
Superb.
I'm just trying to understand the next revolution.
You're saying that people will keep their shoes in it.
Yes. We've sold 7000 boxes in eight months.
- We've already sold 7000 boxes in India. - Wow!
And you don't just have to make a wall.
There are people who buy only two, and also five.
What's the price of one box?
We have two variants.
One is front drop and the other is side drop.
This one's side drop.
You can see the shoe from the side completely.
1200 rupees in retail.
And right now we've 55% customer retention rate on our website.
Basically you've a sale of one million every month.
No, we also sold this to some trader who sold it ahead under our brand.
So till date we've done a business of five million in eight months.
- So around 700,000 every month. - With only four productions.
- So 700,000 every month is your sale. - Yes.
- And 80% of it is coming from these boxes... -65%
How much is it D2C and how much from trader?
100% from my website.
- 100% your website. - Yes.
Does traffic worth 700,000 come to your website organically
or do you also do marketing?
Only influencer marketing.
The initial marketing of my business was I sent a free box to someone.
Since then there hasn't been a single day
when I haven't received sales on my website.
Sales worth 700,000 and zero marketing.
I spent 20,000 to 25,000 on influencer marketing...
- Amazing. - Wow!
- Superb. Very impressed. - Basically we do barter collaboration.
Are you really 22?
Yes, ma'am. I am 22.
What was your sales last month?
- 7,00,000 - 7,00,000
Yes.
- Okay, fine. I'll give you an offer. - Great.
I thought I made a great achievement starting a business at 23,
but you're on your second business at 22.
It's an amazing brand name, logo...
- Did you make it yourself? - Yes.
So Krishnav, I'll give you an offer.
Two million for 20% equity.
And your valuation will be ten million. That's my offer.
Krishnav, I'll give you an offer.
- We've invested in a sneaker company. - Yes.
- Find your Kicks. - Yeah.
So this is a natural extension, right.
Natural extension of a sneaker company.
That's why I'm very interested in it.
I'll give you two million for 15%
So Namita's offered you 15% and I'll match her offer.
So that's two million for 15%
But your main product is this. This box.
For now. But now we're also making cleaning kits...
But other people also sell box in the market.
The competitors sell Indian product which is plastic, this is ABS.
Only Sneakare will sell in India.
- Wow! - So I have no worry.
- Do you guarantee that? - Yes.
I think you're a phenomenal entrepreneur.
In this category I think Namita or Veenita will help you better.
And because they have already given you an offer.
I'm out. If they didn't give you an offer, I would've given one.
Thank you.
Thanks Peyush.
Sir, any offers from you two.
If you feel this is a small market in India,
will you think about sneakers or what?
Basically, our vision...
Our vision for next five years is not to make it for expensive sneakers alone.
We'll manage the price point accordingly after we get a volume.
A person who is buying shoes worth 5000,
this fits in their budget as well.
Only then will our volume increase.
So that we can manufacturing in India.
And if I say I want to start another brand tomorrow,
and it'll be called Sneakool.
And Sneakool can buy from your suppliers,
there is no differentiation.
Expertise and knowledge.
Maybe you can help my vision get where I cannot.
Shoe industry is a huge industry. It's not small...
- If you see... - Look, let's make it clear.
This is why I keep asking you do you want to get in the shoe industry?
- You say no. - No.
- So let's not talk about the shoe industry. -Yes.
- Let's talk about the shoe care industry. -Correct.
You don't have numbers,
and you fail to explain how big it's going to be, and how will you expand.
So I'm finding it challenging it there.
How big can you make it in five years?
50 million. 500 million. Could be anything. Could be nothing.
- Could be anything. - Good comeback.
Sir, when you started shaadi.com you said there was no internet.
You had a conviction in yourself. You thought I'll break it.
- Absolutely. - Same market you can see grow.
India accepted these crates which even I never imagined.
I think the youth
and a guy aged between 15-40 are accepting it, it will grow for sure.
Remember Band Baaja Baraat. Ranveer Singh.
He says...for the tyre industry.
That even you started somewhere,
you got support so you should support us as well.
And they get their first order for the wedding, right.
So that's a good answer you've given to him.
- So are you joining in on this offer? - Yes, yes.
So are these two offers, or three offers?
Let me ask the question?
Go ahead.
How much money have you invested?
I've personally invested 1.8 million rupees.
1.8 million from your parents?
The money that I earned from my hoodies business,
and 500,000 from my parents.
Good. You wanted to talk, right?
I, Vineeta, and Aman will come together.
2.1 million for 15% so each puts in 700,000 for a 5% stake.
Let me make it easier for you. Love your passion.
Thank you.
What you did at this age is great.
But I think you've a good offer.
- You can counter... - Or you can not counter also?
You can take a little counter.
Go ahead, it's your right.
So Sharks...
2.1 million for 12%
Okay, done.
Wow, you got an offer.
Thank you so much.
Congratulations.
Thank you so much, sir.
Congratulations.
- You'll go places. - Thank you.
Before you go, I salute you man.
- I know, he's amazing. - At the age of 22
I couldn't even spell entrepreneurship.
- So amazing. Hats off. - Love your spirit.
- Very nice. - Thank you so much. Bye.
Well done.
Where does one get such maturity at this age?
I think kids have changed these days.
Imagine by the time he's 35 he would've spent 13 years in business.
That's like...
Incredible. Great guy. You guys will make money.
- Very nice. - Good deal.
Congratulations, Krishnav. Did you come in to win so many cheques?
I was not expecting that all three of the sharks will get invested.
I was thinking that Namita and Aman will be more interested.
But we got Vineeta as well.
So glad.
- Thank you. - Well, we've got an offer for you.
Flipkart is giving you an opportunity to host your products on their website.
Because they believe in encouraging and supporting all entrepreneurs.
- So what do you think? - It's lovely.
Alright, good. Then I shall buy your products.
- Thank you. - On Flipkart.
What's your plan for future?
Plan was to list my products on Flipkart,
and I got this offer so I'm very excited with it.
Congratulations. And I'm looking forward to more.
- Thank you. - See you, man. Bye.
Coming from Diamond City of the world, Surat, two gems
who had the option to join family business.
But they started their own business.
And now their own business is more profitable than the family business.
So you can imagine how awkward that
family dinner table conversation is going to be.
So let's meet these brothers. Ilesh and Bhavdip Ghevariya.
Hi, Sharks. I am Ilesh Ghevariya.
I'm Bhavdip Ghevariya. We're from Surat, Gujarat.
Do you know what movie thrive on?
Entertainment. Entertainment. Entertainment.
Same with the clothing industry.
Clothing industry thrives on only three things.
Designs. Designs. Designs.
Why most brands launch only two designs in a year.
The reason is dead stock.
Dead stock is when some products that you make don't sell.
It has to be dumped in the garbage yard.
The industry's dead stock ratio is 30%
We present French Crown.
India's first fast fashion brand in men's wear category with zero dead stock.
We launched French Crown in 2017.
And we launch more than 200 designs every week.
There are more than 3000 designs on our website.
From suits to boxers, we deal in every men's wear category.
Our hero products will always be suits and shirts.
We give customised products, plus sizes,
and low hanging fruits that are standard size too.
We get our 30% business from customised size and plus sizes,
whereas competition is low and margin is high.
Three years ago our annual sales was 10 million,
and now our monthly sales is 60 million.
- Wow! - Wow!
- Monthly sales? - Monthly sales!
So you make 700 million in a year.
- Yes. - Wow!
Incredible.
We started our international sales in September 2020.
Only in one month... IN October 2020 global business touched India.
It took us four years to reach this in India,
and we did it in one month internationally.
We are in 84 countries today.
Sharks our ask is 10.5 million for .33% equity.
- 0.33 - Yes.
God!
Sharks, will you help us in making French Crown
India's first truly global brand?
No, Anupam bhai,
- first tell us the valuation. - 4.5 billion.
- You did it so soon? - Yes, I did.
Ilesh and Bhaudip, welcome to Shark Tank.
Thank you.
Take the crown off first. You look like an actor.
Tell us something about yourself.
I did my MBA from LBSIM College,
Lal Bahadur Shashtri Institute of Management which is in Delhi.
After that worked in pharma for 1.5 years in Abbot Healthcare.
- After that... - Now you'll get investment confirmed.
After that I created a brand in ethnic wear,
which I was selling on Amazon/Flipkart.
But I wasn't making any profit.
So I really fascinated about the clothing industry.
And I belong from Surat and their main business is textile.
So I was doing research back then.
And in 2013 when D2C wasn't even invented.
I found a D2C brand on my own and did an internship with them.
I wanted to learn how D2C worked.
And in 2013 I had thought of the name French Crown.
We did this business in part-time for six months.
Our profit was greater than our salary.
- Then we quit our jobs. - Nice.
And dedicated 100% to French Crown.
So Ilesh and Bhavdip.
How are you? All good?
All good.
- Are you sure? - Yes.
Okay, since I've an expertise in fashion...
Really?
- And a lot of expertise, I want to ask... - Namita...
- Can I talk? -Namita, did you want to say that you didn't.
No, I do.
- So I want to ask... - Men's fashion.
All fashion. I'm a fashion queen.
I want to ask is that I liked that you said 200 designs per week.
Per week?
Do you have a design team?
- We've only one person... - Only one person?
Yes. Since it's men's wear so designs are not to intensive,
but the fabric designs are necessary.
We don't have to design the shirt's structure...
No, you've added an Indian element in this.
Little brocade, I can see a gold look.
- So this is a team, right. - It's a fabric.
It's a fabric.
The fabric is produced by mills. They create new designs.
As soon as the mills launch new designs, we take it up.
- Okay, got it. -Procurement happens once in six months in the industry.
We do procurement every day.
As soon as the mill brings out a new design,
they send us a portfolio, we quickly select a design.
And it goes live on our website in three months.
And even with 3000 SKUs how can your dead stock be zero.
What have you done for that?
We didn't do 3000 SKUs directly.
First we strengthened our supply chain.
Even today we invest 700,000 rupees in our supply chain,
to make the system strong.
But is it made to order or do you keep the styles ready.
70% is made to order...
How do you manufacture,
- and how do you bring it in the market so soon? -That's a good point.
We identified that in any industry you cannot predict the size ratio.
So generally what the industry does is manufacture in the 1:2:1 ratio.
Then sizes are left. We call this the sizing issue.
This is the biggest reason for dead stock.
And sizing plays a big role in product return.
So these are the two villains of the industry.
We tackled two birds with one stone. We made sizing issue zero.
Meaning what we do if we can't decide in a 100% ratio what size to make it in,
we decide in 70%
Keep only 70% stock which we analyse every month,
that these sizes are selling at this ratio.
We make products in that ratio.
30% of it is in fabric form.
If the customer says I want this shirt in half sleeve,
then we'll give him half sleeve.
If he says he wants it in plus size, I want size 52.
Meaning he weighs 100 kilos,
even if someone's weighing 150 or 160 kilos, our shirt will fit him.
How long does that take?
Takes two days in make to order.
So you've cracked that as well.
We have cracked it. We've our own manufacturing unit.
- Your own manufacturing unit. - Yes, our own manufacturing unit.
How many pieces can you make?
We've a capacity of 15000 pieces,
but we still outsource 30%,
because we'll face problems in our own manufacturing unit in scalability.
Do you have sales in India or more globally?
50-50% now.
Couple of months ago it was 60% international and 40% India.
Where do you do marketing?
Influencer marketing, Facebook, Google, Instagram.
Every single penny we're earning from our own website.
How much will you sell this suit for?
It's for 15,000 rupees.
And how much will this entire suit cost you?
It will cost me 3500.
Good margin.
Our margins in international are 84%
- Wow... - Gross margin?
Gross margin.
What's your gross margin blending India and International?
What is the GC on 720 million.
- It will come down to 70% - And what is your net profit?
- 20% - 20% now...
- Yes. - So last month you profited 10 million.
- 10 million. - Take home was 10 million.
Yes.
And you said you're in 84 countries.
- Yes... - Isn't this too diversified?
So when your 50% business is coming from global,
80% must be from four-five countries, right?
- Yes. 60% alone is from the US. - Yes...
10% from UK.
Then Australia 5-6% and Canada 2-3%
Your company is so profitable.
So why do you want 10.5 million from us,
when you've such a cash rich business.
I want to ask a very simple question.
What is the one thing you need to sell products?
- Tell me. Simple. - Inventory.
- Capital. - Stock.
One needs products to sell products.
- We don't have products. - Stock.
We've inventory issues.
If we have 15,000 shirts in inventory, we sell 10,000 in a month.
The industry's turn around time is six months,
ours is 1.5 months.
But if you stock for six months business won't do well.
I mean you can still do 3000 designs
with 1.5 months stock, that's great business.
Why do you want to ruin the fundamentals of
your business by increasing your working capital?
We don't want to keep six months inventory.
Suppose...I've 150 million worth of inventory on MRP.
I will do a sales of 100 million per month.
If I've inventory of 500 million,
I will make sales worth 300 million. That's what I'm saying.
It's got the capacity.
But the constrain is the inventory.
I don't understand.
What will you achieve with this 100.5 million
that will completely change your business?
Give us 100 million.
- Ilesh, Bhavdip... - I like that.
...this French Crown, your company.
Explain to me in one line what you want it to be in five years.
India's first truly global brand in men's category.
If five year's later you're getting 700 million from international,
and 300 million from India will you call it a truly global business.
Yes. Maximum business should be from international.
But you're still getting it. 60% of your business.
- No, scale. - We even want scale...
What scale do you want in five years?
In two years... If I can get an investor, we'll be a unicorn.
- We would like to be. - Where did Unicorn come in all this?
You mean to say you want to make sales worth 70 billion in two years?
No, 70 billion worth valuation.
I want make sale worth 15 billion in next two years.
So it will be five times the sale's valuation.
- Yes. - You said it yourself.
So can we see your products anywhere?
- Sure. - Sure.
And please when you go out tell people that Aman speaks less.
You must have seen it.
And it seems like we're stopping them, imagine.
Ilesh and Bhavdip, I'll make an offer before they ask a question.
There are four things common between you and me.
- Wow... - No. 1; You Gujju, me Gujju.
No. 2; You pharma, I'm pharma. Right.
No. 3; You've a passion in fashion...
- Yes. - My expertise is fashion.
And no. 4; You told us a good thing, which you know, touched my heart.
- Made in India, but we've to make this a global brand. -Yes.
And that's what Emcure has done.
Made in India but we're in 70 plus countries.
So there's a synergy.
So I want to make this offer.
7.5 million for 7.5% equity...
And 7.5 million debt at 12%
So you've put valuation of their business at 100 million.
Yes.
- For a 750 million business in revenue. - Yes.
Peyush, you're the one to talk. You've already done it.
Tell me a few things. 700 million is not a joke.
Have you gone to investors?
When our revenue was 30.7 million in September,
we were getting 100 million on a valuation of one billion.
- And you didn't take it. - No.
2.5x at that time was really low.
2.5x in the fashion business is very good.
Fashion business as a category one doesn't get more than 2-3x multiples.
- I've seen it myself. - A brand got 5x in Shark Tank itself.
- In clothing. - Who was it?
Bummer I think.
The scale depends on different levels.
- Okay. - You know what,
sometimes I get this feeling of too good to be true.
So your business seems too good to be true,
that you've made it 720 million normally, right.
And if you were doing such good business normally,
then investors would've already approached you.
Something is...
- We'll know once we're out there. - Yes.
So what's the catch. Tell us.
Investors would've approached us if the entire business was in India.
Half of it is in India and the remaining international.
So it's not a big brand to go global.
No, let me tell you what's going on.
You've come to Shark Tank to create a valuation bench mark.
- You've seen several episodes. - Yes.
You noticed that we're making deals at pretty good valuations.
You didn't like the one billion valuation,
the last offer that you received.
Because you don't want 10 or 20 million.
You're looking for at least 100 million. Ideally 200 million.
So you thought of going on Shark Tank,
establish a valuation.
You'll offer 45 billion, and maybe establish a valuation of 30 billion.
And then borrow 10 million by diluting 10%
No, my objective... This is what I feel.
You want a valuation of at least 30 billion. Isn't that right?
If I make an offer at 30 billion, will you accept the deal?
I want only 100 million but at a good valuation.
At what valuation? That's what I'm asking.
30 billion.
Thank you very much.
Let me tell you your brand doesn't exist.
I've never heard or saw French Crown in India.
Your valuation is out of the stratosphere.
You came here to establish a valuation bench mark.
It's not a bad thing.
And I clearly said 30 billion and even you agreed to it.
You want a valuation of at least 30 billion.
You and I cannot be one today, so I am out.
- No problem. - But you will make it someday.
You've made it so far, you will make it one day.
Good luck.
Look...your quality...
is not too good.
I'm getting that...
"Something is fishy."
You don't have a brand and you can make sales of 360 million.
Outstanding.
I was just trying to figure out.
I was trying to understand how, why, what.
I still didn't understand. So I'm out for now.
But...all the best.
Your purpose for doing this business is not clear.
Because I'm confused about it so I'm out.
Okay.
When you do business worth 720 million from 84 countries,
so the problem is that it is difficult to establish your brand.
I think making a brand in one country which is among top 5 is a bigger goal.
But of course the metrics of your business is phenomenal.
So keep doing what you're doing. Best of luck.
I'm revising my offer.
I'm willing to give you 7.5 million for 3.75%
which is a good multiple of your net profit.
Sorry Namita, I can't accept your offer.
So sorry.
Fine, thank you.
Thank you. Thank you everyone.
Best of luck.
They are chasing valuation,
and I'm telling you they are on a different track.
- Not trade. It's manufacturing. - Right.
We were trying to find out how you're selling it.
There's no vision for the business but want to be unicorns.
If you had done this deal,
- I would've taken the cheque. - I liked it.
Congratulations, you guys came on Shark Tank.
What did you guys learn from here today?
We've learnt that we need to work on our branding.
We've cracked the supply chain.
We need to improve it, which is our strength.
But we've to work on the branding.
You didn't get any investment,
but you get an opportunity to really upscale your life skills.
UpGrad is giving you a chance to select exclusive courses,
Such as supply chain management, MBA, digital marketing,
anything that you want.
They will up skill you and give you life long earning.
Which course is it going to be?
Definitely supply chain management.
Because as we said we've to make our working capital negative.
So supply chain is important .
Perfect. Congratulations to the two brothers.
- Thank you. - This is from UpGrad to you.
- Thank you! - Thank you so much!
All the best! Looking forward to more.
The better a pitcher negotiates,
the better deal they get.
And our next pitcher is a certified negotiator.
So, let's meet Sudeep Gupta with his CCO Swati Gupta,
and COO Sajid Khan.
Started a shoe-business from home,
and the business started to grow.
Now, there are shoes in my bedroom as well as living-room.
I sleep and wake up on shoes. Man, what do I do?
Dude, even I have to go to Banglore from Delhi for 6 months, for office work.
How do I pay for 2 houses in this era of inflation?
What do I do with my Delhi house stuff?
Don't do anything, you both. You store at Store my Goods.
Hello, Sharks! I am Sudeep Gupta and I am founder and CEO of Store my Goods.
Hello, Sharks! I am Sajid Khan
and I am the Chief Operating Officer of Store my Goods.
Hello, Sharks! I am Swati Gupta
and I am Chief Commercial Officer of Store my Goods.
Sharks, we must have, at some point of our life,
faced storage and related problems.
Be it an individual
who has to renovate his house,
or be it an entrepreneur who wants to scale his business.
All of them have to go through certain problems.
The problems are to deal with brokers,
to give heavy commissions, and the most important is
to look for an affordable, safe and secured storage.
Sharks, to solve these, we are here with Store my Goods,
which is a tech-enabled, one-stop storage solution,
wherein any customer, from any part of the world,
can avail our storage services on a click of a button.
Sharks! When I used to study in Paris,
and when I worked in Germany,
I used this storage concept for the first time.
And this a big industry in Europe and US.
I started Store my Goods in August 2020.
And we have, till now, provided storage services
to more than 500 customers on subscription model.
We have approximately 40,000 sq. ft. of space.
We had started from Delhi NCR, now we are also available in Mumbai.
And we are launching in 4 new cities in some days.
Sharks! We want to make Store my Goods as an Airbnb of storage industry.
For which, our ask is 1 crore for 1.75% of our equity.
Wow.
So, Sharks! Who wants to make storage easy with Store my Goods?
Great presentation!
Sudeep, Swati and Sajid.
Welcome to this very special episode.
- Thank you so much! - Thank you so much!
Obviously, fantastic business!
There was a good market growth for this in last 12 months.
But, tell me how do you all know each other and what is your equity structure?
Swati is my wife and we know each other for around 11 years.
And Sajid and I have worked together at Cars24 and OYO.
So, what did you do at Cars24?
I was leading growth vertical for them across India.
I was leading franchising and alliances as a Associate Director for them.
And with OYO, I was leading the international business
as Director International Business.
So, I launched Europe, US and Canada markets for them.
Overall equity is with our family,
that is, Swati and I and our family.
Sajid joined us as a part of ESOP pool.
How much ESOP does Sajid has?
So, he has approximately 5% of ESOP.
5% of ESOP?
What is yours and Swati's split?
I have 50%
I have 20%.
And rest?
Rest is with my father who is also an investor into this.
- That is your too. - Yes, it's family's.
So, explain to me, the role of Swati and Sajid?
You tell me, Swati.
Sharks, I am basically a lawyer.
I have practiced for 8-9 years at Delhi High Court.
Now I have to be vigilant with you.
Then, I joined Store my Goods,
where I look into their legal processes and accounts.
- And you Sajid? - I am a DU Graduate.
I have studied Bachelor of Business Studies in Marketing.
- Okay. - I started my journey with Zostel.
Later on I joined Cars24.
- I had started with Sales in Cars24. - Okay.
Then I moved to special projects
where I looked into course strategy, city plans,
team executions. I had to apply the previous learning from sales
in special projects.
You said, you have 500 customers on subscription model, right?
- Subscription model. - Right.
So, explain a bit of customer journey.
Like how?
Also services, exactly the services you provide.
- I am not clear on that. - Right.
- Tell us the whole journey. - So is it B2C or B2B, tell us this?
Right! So, basically our 2 verticals,
B2C is for individual customer
and B2B is for our start-ups or big corporate clients.
Subscription model is basically our B2C customer,
its average life-cycle is of 6 months.
And B2B is for 12 months.
So, when a customer joins us,
like myself, like Swati
is moving to Bangalore
and requires storage and avails our services for 6 months.
Now, she has to do nothing.
She will visit our website.
Login to My Account, fill-in the details,
KYC, Self Declaration,
Replacement value,
and Insurance, all of it.
Then our team schedules pick-up date
and after the pick-up date, our team goes and packs their stuff.
- It also has packing included? - It also has packing.
It's packed in 3-layer packing.
Our team takes it with them.
And this is done entirely without even calling.
If you don't want to call, you can do it.
We have integration with payment gateway and everything.
And the other thing is,
we have some Korean customers and customers from abroad
where this concept is at an advanced stage.
So, they ask us to get them boxes and they will self-drop.
They join our facility,
make the self-drop,
we wrap them in 3-layer packing and store.
But if I am moving from one house to another in the same city,
then your services are not available?
No, we do not do that. Our core is storage,
and services related to storage.
- We are very... -Will you show us the UX, how your user interface is?
Show the demo.
So, Sharks! This is our website.
This is for both B2C and B2B.
These are household storable and business storages,
clothing, gym or restaurant stuff, vehicles and memories.
They can store anything.
Right! We'll scroll down.
Here we have storage composition.
We have box storage, shared storage, private storage.
Again it's one of the USP. We have guaranteed lowest prices,
in Delhi-NCR.
No lock-in period and
very minimal security deposit.
So, if I have a shoe-boxes business
- then you can store my shoe-boxes? - Right.
We provide you private space as well,
ranging from 50 sq. ft., 70 sq feet, 100, 200, customisable.
That is logistics.
That is a bit of logistics and ware-housing business.
- It is a storage business. - Ware-housing is all the same.
So, you will not find customised
storage-related services in ware-housing.
- There you are more focused on fulfillment. -Meaning?
Versus storage services. Our core is absolutely storage.
You can't in and out here, quite frequently that is.
We allow it for our B2B clients.
So, I can take out my stuff every day?
- Yes. Yes. - That's warehouse.
This industry has 2-3 segments, correct?
- One is e-commerce enablement. - Correct!
Where the people look at you as a B2C brand,
you have given all the work to one person
- who looks into your ware-housing, logistics, all of it. -Correct!
So, that kind of player does not need you.
Because you are not into full e-commerce enablement.
The other is just ware-housing,
where people give a ware-housing space to store.
And the 3rd is the one you are talking about, Store my Goods,
which a retail version of ware-housing,
wherein you also added logistics for convenience.
- Take stuff from house and drop it. - Correct.
So, you fall into the 3rd segment.
- Is this correct? - Correct.
So Sharks, I would like to refine here a bit.
No, he is in all 1, 2 and 3.
Our business numbers are, we are at 65%..
- Now that you have come to numbers, tell us about it. -Yes.
Along with the numbers, also tell us about the split
- between B2C and B2B. - Absolutely.
So, now we did 30 lacs revenue in January month.
And our B2C split,
we get 65% revenue from B2C.
Because we started with B2C.
What is the growth month-on month?
So, we are growing around 10-15% month-on-month.
Till date, we have done a business of 1.75 CR.
In how many months?
August 2020.
So, we did 35 lacs in 1st financial year, in 2020-2021.
We have done 1 Cr in 21-22 till now December.
And the orders we have now, the alloys we already have with our B2B clients,
we will close this calendar year in December at 7 Cr.
Did you raise some investment?
No, not yet. We have not raised any investment.
That's just our family investment.
Is it in profit or loss?
No. So, we have broke-even till December.
We are not burning.
We will be at 10-15% EBIDTA this year.
How many competitors do you have presently, in India?
Sharks, where we are operating today, honestly there are some local players,
where they play price-game.
Okay, I have understood your business.
I want to understand this one thing very deeply.
Your fundamental risk is
lease mismatch.
Right? The place you acquire,
you do not buy it. You take it on lease.
What is the duration of lease?
So Sharks, we are now doing lease for 3-5 years.
Okay.
The reason is the storage hubs we have now
are at 5000 sq. ft. 10,000 sq. ft multiples.
Our vision is, when we grow a bit,
we will consolidate it and create a big eco-system,
we will build storage hubs.
Now you are taking a lease for 3-5 years.
- Yes. Yes. - And you are passing it for 6-12 months.
- So, this demand-supply... - It's very flexible.
Totally flexible. Not 6 or 12.
No, they can take for a month as well.
- No, average is 6 and 12. - Yes.
So, this is your risk.
- Yes. -Because you have committed for 3 or 5 years
and you don't know about the future clients.
- Macro-event. - No, sir. We have not committed.
- That's what I am asking. - We have basically
signed an agreement. If we talk about lock-in,
the lock-ins we give to an owner,
we keep that for 6-9 months or maximum for 1 year.
And by that time, when it is our rent-free period for 1-2 month,
we come to a 50% occupancy till then.
Look, this business in US, I have lived there for a few years,
I have also used a lot of services.
- Right. - So, this is quite commoditized.
There are 10 brands in every city for storage.
How will you make this a differentiated model on a national scale?
- Correct. -Because it is a very local, fragmented business.
- At least in the US. - Absolutely.
So Sharks, basically when we worked in Cars24, we learnt that
you can deal a transaction of an entire car without a broker,
on a click of a button.
Keeping that in mind,
we want to replicate the customer journey, that he'll be on boarded,
he'll select,
he'll select date, insurance plan,
select pick-up, drop, return.
Even if they want to take some items out in winters...
We have a lot of customers
who are from Delhi University,
they come, they want 2 boxes. It's marked.
Or we want winter clothes.
So, they take it from us or we get them dropped.
So, we want to tech-enable a lot.
Who is looking after technology now?
We have an out-sourced team.
We do it through them as we are just a team of 8 people.
But, if you are calling it a technology business, then without CTO,
it's a bit mismatched.
When we started, we established a business,
we know, as we said earlier, that we need a CTO.
- No. No. You are saying that your differentiator will be technology. -Yes.
We can't say that after looking at your website,
that presently your differentiator is technology.
- Shark! - I thought it was an okay website.
I don't know if others agree to this or not.
And for that reason, I am out.
Had there been a tech guy with you,
maybe the discussion would have been better then.
But, not now.
This is the reason there's no fund raised yet.
We have some people's interest now.
We have a term-sheet.
But we are here for
some technology advancement.
- And a few of our B2B.. - Are you here to hire CTO?
No, no.
I understand that I can't see any technology here
and ultimately when this turns out to be a big game,
it has to be technology enabled.
And for that reason, I am out. I wish you the best.
Thank you.
The direction you are trying to take it towards,
which is a whole demand-supply marketplace,
which Airbnb, Urban Company,
We Work.
We Work, even Cars24 model,
that is like an economy of scale model.
- Correct. - So, such deep tech and,
you know, I think without raising at least 200-300 Cr,
it can't become a large business because
there are a lot of initial setbacks
to create enough demand and create enough supply.
So for me, this is not a fit and for that reason I am out.
Alright!
You said you have an interest, a term-sheet?
So, what was the valuation there?
There is no term-sheet presently.
- We have. - He said he has.
Yes, our floor valuation is 25 Cr,
and our
CAP valuation is 37.5.
- And here, you are asking for 60 Cr? - Why are you asking for 60 CR here?
No, our term-sheet is 3 months old, actually.
No, no, seriously.
Remember the floor.
Your valuation increases on Shark tank.
There's nothing left now, Peyush.
Nothing's left to talk.
No, I have something.
Tell me why didn't you raise funding in 18 months?
We wanted to be on stealth-mode for some time
- and build... - Is this the truth?
- Yes, absolutely! - Hand to heart.
Hand to heart. I mean, honestly, if I go into the market
and ask for money, I'll get it.
But I want to take it from those who can help us
in technology, and penetrate in B2C market.
- Correct answer. - Technology! Technology!
And what is the vision?
We want to become the Airbnb of storage
and we want to make a 500 Cr company in the next 5 years.
- We will make you an offer. - Yes, sir.
50 lacs, 5% equity.
Me and Namita will come together.
We'll split the risk because it's a little early stage.
Yeah
And we'll give you 50 lacs debt
at 12%
interest,
as and when you need it.
Sharks, we want to make an counter offer.
We can look at up to 6% of our equity.
- For 1 CR? - For 1 Cr.
What will be the valuation?
16 CR.
All equity?
All equity.
Join mid-way.
Make counter-counter.
No, I think I'll stay firm on my offer.
- Sure. - Not I, but we.
Yes, sorry. I mean...
I think I am okay to take the 50 lacs as equity right now,
because we don't want to dilute you more.
We are basically taking 5% equity between 2 people.
Taking the risk at this stage when it is too early,
and post that, whether or not you have the term-sheet or investors,
I am not putting any conditions.
No matter whether anyone comes in or not, it is an unconditional offer.
But it's a final offer.
And your final offer is?
50 lac, 5%, 50 lacs debt.
You take that debt if you need it.
I mean, it's not necessary.
No, but you have to give him 1 Cr.
Yes, we'll give you.
So Shark, we have a final counter-offer.
50 lacs for 3.5% equity,
and debt as and when required.
- This is our final offer. - 50 lacs 4%. Deal done.
Not bad. Take them both.
50 lacs for 3.75%.
- Don't do this for 0.25%. - Sharks, it is important to you.
It's more important to us.
It's not that important. We will manage.
Okay, Shark!
- Alright! Wow! - Deal done. Superb!
Well done!
You got the deal because you're wearing red today.
- The entire set is also red here. - I had already seen your Instagram video.
You also changed your logo.
How many color t-shirts did you bring with you?
I think you will have to work on your tech platform,
which is why the higher equity right now.
- Thank you. Thank you. - Congratulations!
- Thank you, Sharks! - Good job!
Thank you.
Sudeep, Swati, Sajid. Congratulations!
How are you feeling? Were you feeling
confident when you came out?
Yes, I think we were feeling amazing.
We have got amazing Sharks
to support us.
What do you think about the experience with these 2 Sharks,
what experience exactly do you want from them to make sure that
Store my Goods gets to the place you want to?
I think the 2nd Shark, Namita,
she has already observed and used this concept in US.
I think that will add a lot of advantage
for understanding the complete eco-system.
That's perfect!
If you have some place to pack my emotional baggage, please let me know.
- You will get a lot of money. - Definitely!
Also, congratulations from Cash free payments.
India's leading payment solution.
And on their behalf.
you get
free credits for transactions worth 30 lacs.
So, now you can accept your online payments.
and payout as well, all you got to do is scan this barcode.
Congratulations! There you go!
- There you go! Well negotiated. - Thank you so much.
- Congratulations. - Thank you! Thank you!
And for more information, make sure you log on
to Cashfree.com.
- Thank you so much. - Thank you.
Our next pitchers are 2 close friends.
2 brothers from another mothers,
whose friendship is turned into business partnership.
And they did not need to marry their kids, like films. That's great!
So, let's see if Himanshu and Nakul impress the Sharks or not.
What is Devnagri?
- It is Lipi. - It's some...
It's a tech.
Because there's just laptop. AI.
Oh!
Peyush, technology!
Greetings, Sharks!
My name is Himanshu Sharma.
Greetings, Sharks! My name is Nakul Kundra.
We are co-founders of Devnagri
and we are from Delhi.
Sharks, I want to tell you beautiful line of our country.
Where the water changes every 4 km, and the dialect changes at 12!
- Wow! - Even today, 90% Indians
speak in their native language
and they do not know English.
If we talk about internet world,
only 0.1% content
is available in Indian languages on internet.
- True. - Imagine,
when 90% of Indians
i.e. a population of more than 100 CR,
what will they consume on Internet?
We have internet and smart-phones,
but we have no content to consume.
And this is a huge problem
which we are solving through Devnagri.
Devnagri is an AI-powered Human Translation platform
which provides translation services in 12 Indian languages.
We have created our machine-translation engine,
which is 85% accurate.
We have made this technology in India.
Our aim is to reach those 100 Cr Indians
who don't know English
and who live in Tier-II, Tier-III cities and villages.
For this, we enable businesses,
to localise their digital content, and their communication.
For that, we created our translation engine
that you can check online at www.translate.devnagri.com
Devnagri was started in 2020.
Today Devnagri has 70+ clients
to whom we provide translation services.
We have also made a community of 5000 human translators.
Now, we are doing text-to-text translation
and we have started image translation.
We also want to do voice translation.
Sharks, just imagine,
if 100 Cr people
can become a part of Digital India,
learn it, understand it,
and create their start-up in their own language,
without any language barrier,
the smile on their faces is what we want.
We want 100 Cr smiles.
This is our aim.
So Sharks, our ask is 1% equity
for 1 Cr.
- Woah! - So Sharks,
let's eradicate this language barrier
and make our India a self-reliant nation.
100 Cr valuation!
- Yes. - Yes.
So, Himanshu, Nakul,
the Google translate which we are already using,
how will you compete with it?
Google translate is good for general translations.
I want to go there. I want to go there tomorrow.
They can do it.
- But if we talk of business... - They also do full texts.
- Right, whole page. - Yes, full texts, but
when we talk about business, let's say, mobile.
Mobile word can be a phone in e-commerce
but in transportation industry, mobile means to walk.
So, how will machine understand this context?
So, what we are doing is, we are domanizing the industries
and making machine translations specific to those industries.
And we are targeting B2B.
But it can also be done on mobiles
like, you can see someone's phone, nowadays, they write in Hindi.
Social media has Hindi.
Nowadays, keyboards are available.
- You write in English and it will be translated in Hindi, right? -Correct.
So, there are 4 things here.
This eco-system is made from 4 things.
First, we do not have content, we'll have to make content available.
When we'll have content, we'll have to search them.
When search is done, then we'll have to type
and make it searchable.
Then, we go to the engagement model, where we can engage.
So, firstly, we are talking only about content availability.
We are also working on search.
About input, as you say, translation or transliteration engine,
we have that of our own
in multiple Indian languages.
We are presently supporting 12 Indian languages.
You said transliteration?
And before that you used a word, translation.
Yeah.
Explain the difference to our audience.
Okay.
My name is Nakul.
"Mera naam Nakul hai."
Okay.
We call this translation.
Transliteration is,
if I write, 'My name is Nakul', in Hindi,
and by using Hindi script.
He'll read 'My name is Nakul', but it will be written in Hindi.
- Exactly. So, only the script will change. - Correct.
So, what are you doing?
We do both.
We do transliteration because, let's say, there's a Hindi song
and we want to read it in English,
so, we can give the APIs to those companies.
This is our API and the Google API is currently not working.
Who are your customers
and what problems do they have?
Usually, like we have catered 4 industries.
Ed-tech, e-commerce,
publishers and BFSI.
So, in Ed-tech, like,
there's NEP policy.
A lot of people want to study in Indian languages.
Engineering will be in Indian language.
How will they translate so much of that content?
Question banks, answers...
So, we provide this solution in Ed-tech.
For businesses, we have
a platform called DOTA which we also call as Vaayu.
Devnagri on the air.
We'll give a gif Java snippet to your website at any real-time,
and within 30 minutes
- your website will be translated into... - Wow
multiple Indian languages.
So, until now you were catering for English,
you can cater all the Indians now.
You'll do text conversion.
- Yes, sir. Text conversion. - Only texts.
As you want it. If you say,
you want course content in different languages,
- we'll help you in that. - But only text.
So, he said, he eventually wants to do voice.
Correct.
That boat has sailed.
The voice translation today..
You take a movie or an ad,
it's playing in Hindi.
That same ad, through machine translation,
you can hear in English.
- Correct, sir! - And you cannot tell the difference
whether it is machine or human.
- That boat has sailed, man! - Correct.
- A lot of companies are doing that. - Sir, the thing is...
There are a lot of business cases, if we talk about voice.
For example, call centre support.
So, let's understand this problem. Suppose there's a call at call centre,
- let's say, it's in Marathi. - Yes.
And the support representative I have at the call centre,
does not understand Marathi. So,
- what will you do there? - Exactly, sir. Exactly. Bingo.
So, this is what we are trying to achieve.
That we'll open a call centre with 1 language
and no matter what Indian language,
if we get a call, we'll answer it in our local language.
Say, for example, I know Hindi,
you are calling me in Marathi,
I am answering in Hindi but I can understand your Marathi.
- On-the-fly translation? - On the fly. On the fly.
- Absolutely possible sir. - Real-time.
Absolutely.
- How will it come in your algorithm? - Exactly.
So, what we do is we make data sets, training our AIs.
Plus we have community support, 5000+,
- which enables us to contextualize more. - What do they do?
5000+ human translators,
what is their role?
Like, a client gives us their format files.
Like, json format, or xml format,
whatever format they use for their digital purposes,
we take that through our platform,
do real-time machine translation,
and then distribute this in our community to vet this machine translation.
So, when they vet it, the differences we get
that he has changed this in this word,
we understand its context industry, target audience,
build the algorithm,
that it should not be like this from next time.
So, next time if we get the same sentence, we'll be more perfect.
So, this like self-learning model which we have implemented.
Yesterday, I got to know that Shark is known as Shark in Hindi.
- I see. - There's no Hindi word for that.
- The whole season is over and you did not know that yet? -Really?
And even you are known as Vineeta in Hindi.
- Sorry, bad joke. - Oh God!
- How did you open this site? - This is your site.
Yeah, let's go.
- This is in English now. - Yes.
I inserted a Java script into it.
Let's see it.
Okay.
Zoom it.
Million stories of success.
Success stories was written in English.
I know, but does this not look a little weird as well?
Correct, I am not saying that I am 100% correct.
That's why he said he is 85%.
Yeah. I did not say 100%.
But this comes under the15%, that's not good enough.
This Java script of yours,
- even Google provides this Java script. - Yes.
So, how different is your Java script?
If today, Anupam wants to translate shaadi.com,
and add a translation widget above,
why will he come to you? He can use Google.
He can get 300 scripts in market.
If yours is 85%, then Google might have 75%.
Correct.
Why not? We can add human touch and make it 100%.
How will you do SEO?
You need a source page to be in that particular language, right?
That also we do.
- You won't get many visitors... - You'll provide an add-on service.
No, it's in the product.
What I'll do is, you'll open shaadi.com in English, it'll open in English.
If you open Hi.shaadi.com, it will open Hindi.
And it will have different URLs altogether.
So, you are a digitization service company,
that offers digitization services.
There is a difference for consumers, more or less.
But when I would want translation for my business,
- you can provide me with better job. - Exactly, sir.
- Correct. - Am I right?
So, you are better than Google.
On papers, yes.
But in longer term, somebody will catch up.
- Right. - And they will catch up automatically.
- Do you understand Captcha? - Yes.
Google can use Captcha
to do translation and better and better over time.
- Explain your technology now. - What is your differentiator?
How will we excel? We, of course, have a human layer
of 5000 translators.
- We can take them to 1 lac. - Okay.
We have made a family right now,
we call it as Kutumb.
So, we pay all the freelancer translators
for their work.
So, some % of what revenue we get, we pay to them.
And they edit in our machine translations
and we teach it on the basis of that algorithm.
We can make this scale.
For example, you give us 10,000 words to translate.
You want it today, within half an hour or 1 hour with accuracy.
I can divide the 10,000 words into 10 people
and they can do it quickly with 99.9% accuracy
- and you can use it on your system. - Got it.
So, what is the vision of your company now?
Sir, we want to be India's Language Technology Company.
How do you charge clients and what revenue do you make?
We started in 2020, so the revenue for the 1st year was 2 Cr.
We are in the 3rd quarter and our revenue is 3.5 Cr.
How much will you make in this year?
We'll make it 5 Cr +.
And you've recently raised funding from IN?
Sir, we've raised funding from V-Cat and IPV.
IPV, how much funding?
4.5 cr.
At what valuation?
24 Cr.
- You will exit your sales at 5 Cr, okay? - Okay.
You've received a valuation of 25 Cr 2-3 months back.
Yes.
What made you think, you would come here in 3 months, for a valuation of 100 Cr?
- Say sorry, man. - I don't understand.
You won't be able to do it, just let them be. Just tell her,
you are out.
Tell them, man.
This valuation is 6 months old.
Not 3 months back, number 1.
In last 6 months, we have
on-boarded some government clients as well,
plus we've tied up with some OEMs.
So, these are some enhancements we have done in our business in last 6 months,
because of which we think we deserve a better valuation.
Did you understand the valuation?
I want to know the miracle that happened in the 6 months.
It happens in the tech company.
4 times?
It does not happen in cosmetics, but here it does.
- Where did cosmetics come from? - It happens in cosmetics as well.
Now it's done.
How is your equity split?
50-50 %, sir.
And now you round-raised, so you must have diluted something.
19% dilution.
Oh!
I think you are human dependent,
this is not becoming a technology company,
but a services company.
What you are doing is,
if someone is reading through Peyush's specs,
and if someone is seeing English, he can read it in Hindi.
That will be technology.
So, I think it's going to be difficult for you,
unless you create a differentiation.
And today, I don't see it very clearly,
and so I am out.
You are very young and capable. I wish you the best.
Thank you, sir.
This business, I think, to even competing with Google is a big deal.
Come, Google!
I'll fight you. It's amazing, you know.
But I have no interest in it now.
For that reason, I am also out.
At this moment, I think this is a risky business,
so for that reason I am out.
So, look, I think what you are doing now is a services business
and that's not wrong.
This should be a profitable business, a huge one!
But I'll have to be out today because it'll take too long to scale.
And there can be competition as well.
Till now, I only have 3 technology companies in my portfolio
and I was sure I wanted 1 more technology company.
- And your claim was... - She wants it all, man. Careful.
I want to "invest".
I'll give you an offer.
Oh wow!
Basically I'd like to give you 50 lacs in equity for 2%
and 50 lacs in debt for 12%.
Good offer.
I think we have to talk once.
It's a good offer.
What has happened to you all today?
Tell me do you find the valuation fine?
Tell us, tell us.
Because you have made us a service company on national television,
what is your personal interest?
Just because you wanted 1 technology company today,
that's why you are investing in Devnagri?
So, it's not that I woke up and said I want a technology company today.
I think genuinely I face a lot of problems in my company.
- I have 600 R&D teams. - Correct.
And we are in 70 countries.
A lot of times when we, especially in European countries,
when we get the R&D dockets, the translation,
the complexity it has,
my R&D team faces that.
Rest is your wish,
to decide whether you want me as an investor or not.
Completely your call.
So, can we do this at
- 1%. 50 lac? - No.
At 1%?
Because that would be double valuation.
Can you commit us some business?
No. Absolutely not.
It was a good try. It was your duty to try.
You should always be hustling and selling, my friend.
But I also have to be honest.
The day we started, we knew we were taking it up with Google,
- but we are used to it. We think we can do it. -Amazing.
Make a quick decision.
- I think we should say sorry. - With folded hands...
We cannot accept this offer.
Sure. Your decision.
You broke the heart, man.
- Thank you. - Thank you.
- And wish you the very best. - Thank you. Thank you very much.
- Thank you. - Thanks for coming guys.
Bye guys.
- Good luck. - Thank you.
This was pretty amazing.
Because the entrepreneurs that are here today,
they have watched the episodes,
and then presented.
So, this was a different feeling.
I think they have now learnt how to talk to Sharks.
- What to say and what not to say. - I know. What to say.
I think, in the next season, they'll be smarter than
- some of us also. - Yes.
Because that 'Store my Goods' was very clear, he wanted Peyush.
Just understand the game of valuation as well.
Like that sneaker one was here for me.
Sure.
- All of them were for you, Aman. - Okay. Sorry. Sorry.
Even we come for you.
But I'll tell you,
the category creation we have done with Shark Tank India,
and you know the movement with that,
that has taken place in India,
entrepreneurship becoming dinner table conversations.
It will be fun! Just see how amazing Season 2 will be.
Indian Entrepreneurship has excelled.
They have learnt so much.
But what will we do?
We'll have to invest money in all the deals if these are the entrepreneurs.
Just say, 'We will make it too.'
It's good for the country.
No, Anupam. You'll not have to invest in all, we are here.
No, I was saying about us.
- I said us, man... -I don't think any of us will have the need to invest,
- Namita is enough. - Namita is there.
Namita is in form today.
She is different this time.