1 00:00:32,720 --> 00:00:34,960 [theme music playing] 2 00:00:53,360 --> 00:00:55,760 [theme music continues] 3 00:01:19,120 --> 00:01:21,480 [theme music fading] 4 00:01:28,120 --> 00:01:31,960 Sharks, in 2017, we realised 5 00:01:32,160 --> 00:01:33,560 we had done something smashing! 6 00:01:33,640 --> 00:01:35,880 [unanimous laughter] 7 00:01:36,200 --> 00:01:37,800 It was so smashing 8 00:01:38,160 --> 00:01:42,040 that we left behind a magnificent life in the US, 9 00:01:42,360 --> 00:01:44,080 a great job in IBM, 10 00:01:44,200 --> 00:01:47,240 a green card that awaited us, and everything else. 11 00:01:48,600 --> 00:01:52,880 We came to India to change the world with our dream. 12 00:01:53,680 --> 00:01:57,560 You must be wondering what problem it is that we solved. 13 00:01:57,880 --> 00:02:01,760 We converted children's games into learning apps. 14 00:02:02,000 --> 00:02:05,560 We gamified studies 15 00:02:05,640 --> 00:02:08,400 and launched many such apps in the market. 16 00:02:09,520 --> 00:02:11,160 Presenting GunjanApps. 17 00:02:11,320 --> 00:02:13,680 [pleasant music playing] 18 00:02:16,840 --> 00:02:18,680 Greetings, I am Sourav Gupta. 19 00:02:36,720 --> 00:02:38,640 worksheets, and other similar learning activities 20 00:02:38,720 --> 00:02:41,760 by way of games in a fun and interesting manner. 21 00:02:42,560 --> 00:02:46,440 When I was looking for such learning apps for my son, 22 00:02:46,560 --> 00:02:50,120 I learnt that there are no such learning apps in the market. 23 00:02:51,680 --> 00:02:55,120 The ones that were there had very costly subscriptions. 24 00:02:55,200 --> 00:02:58,520 You also needed the internet to run them. 25 00:02:59,440 --> 00:03:02,320 That's when we decided to make apps 26 00:03:02,400 --> 00:03:05,120 that would run on all the smartphones in the world. 27 00:03:05,200 --> 00:03:06,880 They are completely offline, 28 00:03:06,960 --> 00:03:09,040 and the best part, absolutely free of charge! 29 00:03:09,120 --> 00:03:10,040 Wow! 30 00:03:18,280 --> 00:03:19,080 Wow! 31 00:03:24,760 --> 00:03:26,800 to every child in the world. 32 00:03:26,920 --> 00:03:29,240 And for this reason, 33 00:03:29,400 --> 00:03:33,680 our ask is Rs. 2.5 crores in exchange for 1% equity. 34 00:03:41,840 --> 00:03:43,320 [coughs and clears throat] 35 00:03:43,640 --> 00:03:47,040 Come, let's make GunjanApps the companion of every child. 36 00:03:48,760 --> 00:03:51,120 - I hope you know you've come on Shark Tank. - Yes. 37 00:03:51,200 --> 00:03:53,560 - This is Shark Tank India. - India, yes. 38 00:03:53,680 --> 00:03:54,840 Not the US one. 39 00:03:55,000 --> 00:03:57,680 Sir, this is just as good as the US one! 40 00:03:57,760 --> 00:04:00,760 - Whoa! Good answer. - No, this feels better. 41 00:04:01,840 --> 00:04:03,400 - Sourav and Gunjan, good. - Yes. 42 00:04:03,520 --> 00:04:05,160 - Welcome to Shark Tank. - Thank you. 43 00:04:13,200 --> 00:04:14,960 - of Kolkata. - Nice. 44 00:04:15,040 --> 00:04:17,960 I did my engineering over there. 45 00:04:18,040 --> 00:04:21,680 I was offered a placement in L&T, Mumbai, 46 00:04:21,760 --> 00:04:23,240 as a software engineer. 47 00:04:23,320 --> 00:04:26,360 I worked here for some time and then I was transferred to Pune. 48 00:04:26,440 --> 00:04:28,560 I went to the US from there and lived there for four years. 49 00:04:28,640 --> 00:04:31,480 I realised we should do something of our own. 50 00:04:31,560 --> 00:04:33,040 I was keen on it since childhood. 51 00:04:33,400 --> 00:04:35,240 My family has a background in business. 52 00:04:35,320 --> 00:04:39,560 I've worked with my dad in the shop as well as the warehouse. 53 00:04:39,640 --> 00:04:41,000 Gunjan, tell us your story. 54 00:04:41,120 --> 00:04:44,840 - I hail from a small city in UP called Lalitpur. - Wow! 55 00:04:44,920 --> 00:04:48,160 I did my engineering from University of Rajasthan, Jaipur. 56 00:04:48,240 --> 00:04:53,320 After that, I thought of learning a new technology. 57 00:04:53,440 --> 00:04:55,640 When Android was just launched, 58 00:04:55,760 --> 00:04:58,400 I did a six-month course on it from Pune. 59 00:04:58,480 --> 00:04:59,880 Do you have kids? 60 00:05:00,000 --> 00:05:03,600 Our kid is the one who gave us this business idea. 61 00:05:03,680 --> 00:05:04,960 Tell us about it. 62 00:05:05,040 --> 00:05:06,800 What happened was that we were in the US. 63 00:05:06,880 --> 00:05:10,880 Our son had just been born and was around 1.5 years. 64 00:05:10,960 --> 00:05:14,320 She was attending a girl's party. 65 00:05:14,440 --> 00:05:16,840 - Girl's party! - What's a girl's party? 66 00:05:16,920 --> 00:05:18,360 A few girls had organised a party. 67 00:05:18,480 --> 00:05:19,920 [laughs] 68 00:05:20,560 --> 00:05:22,040 - Men not allowed. - Yes. 69 00:05:22,120 --> 00:05:25,280 I was getting bored at home. 70 00:05:25,400 --> 00:05:28,680 I had to babysit my son at that time. 71 00:05:29,440 --> 00:05:30,720 I called my friend and said, 72 00:05:30,840 --> 00:05:34,320 "Your wife has also gone to the party. Let's get plastered." 73 00:05:34,480 --> 00:05:36,680 - Plastered! - [hysterical laughter] 74 00:05:37,000 --> 00:05:39,600 My friend said, "What do we do with him?" 75 00:05:39,680 --> 00:05:41,840 [hysterical laughter] 76 00:05:43,640 --> 00:05:45,040 "What do we do with him?" 77 00:05:45,640 --> 00:05:47,240 There's nothing to worry about. 78 00:05:47,320 --> 00:05:50,200 Let's switch on the TV and leave him here and we... 79 00:05:50,520 --> 00:05:52,960 You've very entertaining. 80 00:05:53,040 --> 00:05:54,560 "What do we do with him?" 81 00:05:55,200 --> 00:05:57,160 No, it happens. 82 00:05:58,160 --> 00:05:59,600 We sat him down by the TV. 83 00:05:59,680 --> 00:06:01,520 We said let's play some nursery rhymes. 84 00:06:01,600 --> 00:06:03,640 The autoplay feature was on. 85 00:06:03,720 --> 00:06:04,880 - Poor guy. - He was watching rhymes. 86 00:06:04,960 --> 00:06:07,280 We were sitting and chatting. 87 00:06:07,400 --> 00:06:09,120 My friend said to me, 88 00:06:09,200 --> 00:06:11,680 "You have taught him the English alphabet and numbers!" 89 00:06:11,800 --> 00:06:13,080 "He's too little." 90 00:06:13,640 --> 00:06:15,320 I said, "No, I didn't teach him any of it.'" 91 00:06:15,400 --> 00:06:17,560 [Sharks laugh] 92 00:06:17,640 --> 00:06:19,560 I asked my friend to replay the video. 93 00:06:19,640 --> 00:06:21,280 He replayed the video. 94 00:06:21,360 --> 00:06:25,720 My son was able to recognise numbers. "2! 3!" 95 00:06:27,120 --> 00:06:28,680 But we had not taught him anything! 96 00:06:28,760 --> 00:06:30,760 He could also identify colours. 97 00:06:32,120 --> 00:06:35,160 I felt proud at that moment. I said, "Saw that!" 98 00:06:35,240 --> 00:06:36,560 My son! 99 00:06:36,680 --> 00:06:38,680 [Sharks laugh] 100 00:06:45,600 --> 00:06:47,960 She returned home around midnight. 101 00:06:48,040 --> 00:06:50,200 My first question to her was, 102 00:06:50,320 --> 00:06:53,600 "When did you teach our son the alphabet and numbers?" 103 00:06:53,880 --> 00:06:55,640 She said, "It wasn't me." 104 00:06:56,240 --> 00:06:58,560 We were both shocked as to how it happened. 105 00:06:58,640 --> 00:07:00,240 Then she said 106 00:07:00,360 --> 00:07:03,240 that she was working on a POC 107 00:07:03,320 --> 00:07:06,480 in which she had developed a very simple app for the alphabet. 108 00:07:06,560 --> 00:07:08,800 - That's right. - He learnt by tapping the screen. 109 00:07:09,680 --> 00:07:11,280 That was our eureka moment. 110 00:07:12,280 --> 00:07:14,640 - That we'd done something smashing. - We'd smashed it! 111 00:07:14,720 --> 00:07:18,920 The problem of a child learning without the help of parents... 112 00:07:19,000 --> 00:07:22,400 If my son can do it, then all the children in the world can too. 113 00:07:23,280 --> 00:07:27,600 As a test, we launched the app the way it was. 114 00:07:34,360 --> 00:07:36,640 - This guy is interesting. - Very interesting! 115 00:07:36,720 --> 00:07:38,840 Do invite me over if you ever host a boy's party. 116 00:07:38,960 --> 00:07:41,160 [Sharks laugh] 117 00:07:43,040 --> 00:07:45,840 Okay. Sir, we have many apps. There's a lot of variety. 118 00:07:45,960 --> 00:07:47,680 There's maths and colouring books. 119 00:07:47,760 --> 00:07:49,640 Let me show you an app... 120 00:07:49,720 --> 00:07:53,160 I'll show you the app from where my son learnt numbers. 121 00:07:53,280 --> 00:07:55,280 Although it isn't that interactive. 122 00:07:55,360 --> 00:07:57,520 'Hello, I am Binny.' 123 00:07:58,360 --> 00:08:00,440 'Let's have fun with numbers.' 124 00:08:00,520 --> 00:08:01,400 So cute! 125 00:08:01,520 --> 00:08:03,840 It's so simple that even a 1.5-year-old kid 126 00:08:03,920 --> 00:08:05,240 can learn on this app. 127 00:08:05,320 --> 00:08:07,600 - They just have to tap the numbers. - Yes. 128 00:08:08,440 --> 00:08:11,840 '3! 7! 6!' 129 00:08:14,600 --> 00:08:15,880 As a parent, 130 00:08:19,080 --> 00:08:21,920 especially at a young age? What are your thoughts? 131 00:08:22,000 --> 00:08:23,960 Number one, 132 00:08:24,040 --> 00:08:28,120 Covid has substantially increased the screen time of kids. 133 00:08:28,400 --> 00:08:29,280 Yes. 134 00:08:30,080 --> 00:08:32,080 For instance, before Covid, 135 00:08:32,200 --> 00:08:35,080 kids used to have a screen time of 9 minutes on average. 136 00:08:35,200 --> 00:08:37,640 - Per day. - Per day and per child, it used to be 9 minutes. 137 00:08:37,680 --> 00:08:38,800 Depends on the age. 138 00:08:38,880 --> 00:08:41,320 You could say for ages 2 through 10 years. 139 00:08:42,680 --> 00:08:46,000 During Covid, this increased to 60 minutes. 140 00:08:47,720 --> 00:08:50,520 Mostly because of online classes and all those things. 141 00:08:50,600 --> 00:08:53,080 According to reports, 142 00:08:53,160 --> 00:08:56,320 this is not coming down even though schools have reopened. 143 00:08:56,400 --> 00:08:58,840 Yes, it has come down from 60 minutes to 45 minutes. 144 00:08:58,960 --> 00:09:01,760 But it's not like it has gone back to the previous time of 9 minutes. 145 00:09:01,840 --> 00:09:02,680 Got it. 146 00:09:02,920 --> 00:09:07,040 Our goal is to provide quality screen time. 147 00:09:07,160 --> 00:09:09,000 I completely disagree. 148 00:09:17,040 --> 00:09:19,800 I didn't find them to be educational. 149 00:09:21,280 --> 00:09:23,480 And they are so addictive 150 00:09:23,560 --> 00:09:26,040 that the child gets engrossed, 151 00:09:26,120 --> 00:09:28,760 and he will keep doing it over and over again. The learning ends. 152 00:09:28,840 --> 00:09:31,120 - Then they're just... - You can't call it addictive. 153 00:09:32,680 --> 00:09:35,840 If the child has nothing to do, he will always ask for a phone. 154 00:09:35,960 --> 00:09:37,720 If you're giving him the device, 155 00:09:37,800 --> 00:09:42,000 instead of watching something silly, he can learn something meaningful. 156 00:09:42,280 --> 00:09:44,360 [intense music playing] 157 00:09:44,800 --> 00:09:47,160 We showed you just one game. 158 00:09:47,320 --> 00:09:49,400 We have 40 such games. 159 00:09:49,480 --> 00:09:52,280 The number one game is the math game. 160 00:09:57,920 --> 00:10:00,560 it wouldn't have had 3 lakh positive reviews. 161 00:10:13,080 --> 00:10:14,800 It has become a habit. 162 00:10:14,880 --> 00:10:16,440 - I agree with you on that. - Although Covid is to blame. 163 00:10:16,520 --> 00:10:17,960 I agree. 164 00:10:18,040 --> 00:10:19,160 It's unavoidable. 165 00:10:19,400 --> 00:10:22,880 Sourav, the way you presented these apps today 166 00:10:23,160 --> 00:10:26,400 was as though you had invented something revolutionary. 167 00:10:28,840 --> 00:10:30,680 Have you heard of ABCmouse? 168 00:10:30,760 --> 00:10:32,240 - Yes. - You've lived in the US. 169 00:10:32,360 --> 00:10:33,880 - It's a big company. - Yes, it is. 170 00:10:34,000 --> 00:10:38,360 You have copied apps like ABCmouse and made them available for free. 171 00:10:41,040 --> 00:10:43,320 - Have you heard of Kiddopia? - Yes. 172 00:10:43,400 --> 00:10:45,320 - It was made in India. - Yes. 173 00:10:45,400 --> 00:10:48,800 It's a premium app just like yours. Exactly what you showed us. 174 00:10:48,880 --> 00:10:51,040 [intense music playing] 175 00:10:51,120 --> 00:10:53,240 Have you heard of AppyStore? 176 00:10:53,320 --> 00:10:54,080 - Yes, sir. - Yes. 177 00:10:54,160 --> 00:10:55,880 Did you know that I made it? 178 00:10:55,960 --> 00:10:56,920 - No? - No, I didn't know. 179 00:10:57,040 --> 00:10:58,600 You should have done your research. 180 00:11:00,120 --> 00:11:01,480 Let me tell you a few things. 181 00:11:01,560 --> 00:11:04,600 You mentioned that we've copied ABCmouse. 182 00:11:04,680 --> 00:11:07,680 - That's not true. - You took inspiration from it. 183 00:11:07,760 --> 00:11:09,080 - No... - Not inspiration either. 184 00:11:09,160 --> 00:11:11,320 It doesn't have the modules that we do. 185 00:11:11,400 --> 00:11:13,120 Doesn't Kiddopia have these games and modules? 186 00:11:13,200 --> 00:11:14,960 - No, sir. - Meet me outside. 187 00:11:15,040 --> 00:11:17,880 My five-year-old daughter spends a lot of time on Kiddopia. 188 00:11:17,960 --> 00:11:19,720 AppyStore has exactly this! 189 00:11:19,840 --> 00:11:22,120 It will be as clear as day! 190 00:11:24,640 --> 00:11:29,440 Leave that aside. How could you say that there was nothing back then? 191 00:11:29,560 --> 00:11:31,320 ABCmouse was available on iOS. 192 00:11:31,440 --> 00:11:32,760 Their presence on Android... 193 00:11:32,880 --> 00:11:35,560 It's because iOS runs in the US market. 194 00:11:35,680 --> 00:11:37,680 [intense music playing] 195 00:11:37,800 --> 00:11:39,480 Don't... Don't confuse the issue. 196 00:11:39,560 --> 00:11:42,240 Yes, but there was nothing available for Android. 197 00:11:42,400 --> 00:11:44,720 - Android... - You didn't specify Android. 198 00:11:44,840 --> 00:11:47,360 [intense music playing] 199 00:11:47,760 --> 00:11:49,600 - Let's forget it. - Okay, I accept that. 200 00:11:51,520 --> 00:11:55,360 Tell me your business model and your revenue. 201 00:11:55,440 --> 00:11:57,880 Also tell me about your team. 202 00:11:57,960 --> 00:12:00,720 Our revenue is generated through three streams. 203 00:12:00,880 --> 00:12:02,040 The first is ads, 204 00:12:06,840 --> 00:12:08,960 Ads generate around 96% revenue. 205 00:12:21,320 --> 00:12:22,400 What's your total revenue? 206 00:12:22,480 --> 00:12:24,560 It was Rs. 24 crores last year. 207 00:12:24,960 --> 00:12:25,760 Wow! 208 00:12:25,840 --> 00:12:26,880 This year? 209 00:12:26,960 --> 00:12:29,760 We have made Rs. 8.5 crores in five months this year. 210 00:12:30,360 --> 00:12:31,560 It's declining. 211 00:12:31,640 --> 00:12:34,360 - It is declining and that has its reasons. - Hmm. 212 00:12:34,680 --> 00:12:35,960 What was last month's figure? 213 00:12:36,040 --> 00:12:39,360 We did Rs. 1.45 crores last month. 214 00:12:39,440 --> 00:12:40,840 - Covid has ended. - Covid has ended... 215 00:12:40,920 --> 00:12:42,720 - So, screen time has reduced. - That's what it is. 216 00:12:42,840 --> 00:12:45,080 [intense music playing] 217 00:12:45,200 --> 00:12:47,040 How much was it prior to Rs. 24 crores? 218 00:12:47,240 --> 00:12:48,560 Rs. 14.7 crores. 219 00:12:48,640 --> 00:12:50,600 Alright. I'll assume it's Rs. 18 crore this year. 220 00:12:50,680 --> 00:12:52,760 How much profit did you generate last year? 221 00:12:52,880 --> 00:12:55,880 Our gross last year was 95%. 222 00:12:56,680 --> 00:12:58,680 Our EBITDA was Rs. 21 crore. 223 00:13:09,600 --> 00:13:11,800 - Is the profit percentage on the same lines this year? - Yes. 224 00:13:11,880 --> 00:13:14,840 - Is there a team other than the two of you? - Yes, there is. 225 00:13:14,960 --> 00:13:16,400 We are 32 actually. 226 00:13:16,480 --> 00:13:17,440 - 32. - 32 people. 227 00:13:17,520 --> 00:13:19,960 What are their monthly and yearly salaries? 228 00:13:20,080 --> 00:13:21,760 If I exclude us, 229 00:13:21,840 --> 00:13:26,080 we pay about Rs. 7.5 to 8 lakhs in salaries. 230 00:13:26,160 --> 00:13:28,880 You have hired 32 people for Rs. 8 lakhs a month. 231 00:13:28,960 --> 00:13:29,840 Yes, sir. 232 00:13:29,920 --> 00:13:31,800 - Where is this? - Kolkata, sir. 233 00:13:31,880 --> 00:13:33,280 Gosh. Lovely. 234 00:13:33,640 --> 00:13:35,920 [intense music playing] 235 00:13:37,240 --> 00:13:41,320 Ignoring the debate that happened, I'd like to congratulate you 236 00:13:41,440 --> 00:13:43,520 for establishing a profitable internet business 237 00:13:43,600 --> 00:13:47,840 in which you earned a net EBITDA of Rs. 15 crores in a year. 238 00:13:49,040 --> 00:13:52,480 Big companies with revenues of Rs. 1000 crores 239 00:13:52,600 --> 00:13:55,560 have a burn of crores. 240 00:13:55,800 --> 00:13:58,400 - I think you should be proud of that irrespective. - Yes. We are. 241 00:13:58,520 --> 00:14:00,320 - We are, actually. - Okay, very good. 242 00:14:00,640 --> 00:14:03,840 Now tell me why your revenue is declining. 243 00:14:05,400 --> 00:14:10,760 We are shifting our complete model from ads to subscriptions. 244 00:14:10,960 --> 00:14:15,120 Our target is that by 2024, 245 00:14:15,200 --> 00:14:19,520 we should be at 60% subscriptions and 40% ads. 246 00:14:19,640 --> 00:14:22,080 You're doing it because venture capitalists have told you 247 00:14:22,160 --> 00:14:23,920 they will not invest if you're an ad business. 248 00:14:24,000 --> 00:14:25,040 - We didn't approach anyone. - We have not. 249 00:14:25,120 --> 00:14:26,760 - We have not approached anybody. - You have not! 250 00:14:26,840 --> 00:14:28,560 Alright, I've made my decision. 251 00:14:28,800 --> 00:14:30,840 [intense music playing] 252 00:14:31,640 --> 00:14:34,600 The time spent on such things will keep increasing. 253 00:14:34,680 --> 00:14:36,160 And also, this is very addictive. 254 00:14:38,240 --> 00:14:40,600 And your total ask is also very high. 255 00:14:42,680 --> 00:14:43,760 So, I am out. 256 00:14:45,000 --> 00:14:46,760 The numbers you gave us 257 00:14:46,840 --> 00:14:49,880 of the screen time being 9 minutes pre-Covid 258 00:14:49,960 --> 00:14:52,720 which increased to 60 minutes and came down to 45 minutes now, 259 00:14:52,880 --> 00:14:54,200 is a tragedy. 260 00:14:55,200 --> 00:14:57,680 Rather than accepting it, 261 00:14:57,760 --> 00:15:00,080 we need to take a step back 262 00:15:00,360 --> 00:15:02,480 and go back to the old-fashioned ways. 263 00:15:04,240 --> 00:15:07,200 And since fundamentally I don't believe in it, I'm out. 264 00:15:07,280 --> 00:15:08,520 Okay, no problem. 265 00:15:09,600 --> 00:15:11,320 Every country is placing restrictions. 266 00:15:11,400 --> 00:15:14,200 - You can't advertise to kids. - You cannot. 267 00:15:14,400 --> 00:15:17,480 And that's why you're moving towards subscription. 268 00:15:17,680 --> 00:15:18,800 - Okay? - Agreed? 269 00:15:18,920 --> 00:15:19,920 - Didn't you have to do it? - Agreed. 270 00:15:20,000 --> 00:15:21,120 - Agreed? - Agreed. 271 00:15:21,200 --> 00:15:25,120 Now you'll be up against the names I mentioned a while ago. 272 00:15:25,400 --> 00:15:26,320 Alright. 273 00:15:27,720 --> 00:15:32,480 And I don't believe you're capable of competing with them. 274 00:15:32,600 --> 00:15:34,800 [intense music playing] 275 00:15:36,600 --> 00:15:38,680 And for these reasons, I'm out. 276 00:15:40,280 --> 00:15:43,800 What do you think was your biggest mistake? 277 00:15:43,880 --> 00:15:45,720 I wouldn't call it a mistake, sir. 278 00:15:45,920 --> 00:15:47,840 Maybe we learnt a little too late. 279 00:15:47,920 --> 00:15:48,960 Learnt what? 280 00:15:49,080 --> 00:15:51,200 We went from 0 to 1 and from 1 to 10, 281 00:15:51,280 --> 00:15:54,120 but we're finding it difficult to go from 10 to 100. 282 00:15:54,200 --> 00:15:56,680 What do you think you need to go from 10 to 100? 283 00:15:56,800 --> 00:15:58,640 We need to spend on the market. 284 00:15:58,960 --> 00:15:59,880 No. 285 00:16:02,560 --> 00:16:04,240 - We need to build a team. - Yes. 286 00:16:04,840 --> 00:16:08,240 Do you have it in you to share your wealth and build a team? 287 00:16:08,320 --> 00:16:09,400 Yes, sir. We do. 288 00:16:10,800 --> 00:16:13,000 Are you willing to pay someone a salary of Rs. 1 crore? 289 00:16:13,080 --> 00:16:14,040 Yes, absolutely. 290 00:16:14,120 --> 00:16:15,920 Actually, they weren't willing to be associated with us. 291 00:16:16,000 --> 00:16:17,800 We have even offered that kind of salary. 292 00:16:18,800 --> 00:16:22,320 But their mindset was this is quite non-glamorous... 293 00:16:22,400 --> 00:16:25,200 Okay, I have made my decision. I am out. 294 00:16:25,440 --> 00:16:26,360 Okay. 295 00:16:43,560 --> 00:16:47,040 But great business, and wish you the best of luck. 296 00:16:47,120 --> 00:16:48,160 - Thank you. - Thank you. 297 00:16:48,240 --> 00:16:50,240 I am very fond of passionate entrepreneurs. 298 00:16:50,320 --> 00:16:52,200 And you are passionate entrepreneurs. 299 00:16:54,560 --> 00:16:55,480 There's one more thing. 300 00:16:55,560 --> 00:16:58,440 You should be very passionate, but paranoid about competition. 301 00:16:59,760 --> 00:17:01,200 So, I am out for that reason. 302 00:17:01,280 --> 00:17:03,600 But you are not paranoid about competition. 303 00:17:04,080 --> 00:17:05,520 So, wish you all the best, guys. 304 00:17:05,880 --> 00:17:06,760 Okay. 305 00:17:08,400 --> 00:17:09,920 - Good luck. - Best of luck. 306 00:17:10,000 --> 00:17:10,960 - Thank you, guys. - No... 307 00:17:11,040 --> 00:17:12,120 - Bye. Cheers. - Bye. 308 00:17:12,200 --> 00:17:13,760 - Take care. - Hang on a second. 309 00:17:13,840 --> 00:17:16,320 She wants to say something. Please speak your mind. 310 00:17:16,400 --> 00:17:20,360 I felt that had you offered us a deal today, 311 00:17:20,480 --> 00:17:23,480 it would have been easier for us to take this forward. 312 00:17:23,560 --> 00:17:25,480 [sentimental music playing] 313 00:17:28,480 --> 00:17:31,840 It will never be easy. The path is difficult. 314 00:17:34,240 --> 00:17:36,160 Entrepreneurship is very hard. 315 00:17:36,280 --> 00:17:39,680 If you wish to continue on this journey, then you will. 316 00:17:39,800 --> 00:17:40,880 If you need time... 317 00:17:40,960 --> 00:17:43,240 Because I set up this business, I don't say this to everyone, 318 00:17:43,320 --> 00:17:45,640 I am happy to give you my advice and input. 319 00:17:45,720 --> 00:17:47,080 Meet me outside. 320 00:17:47,160 --> 00:17:48,400 We will have a discussion. 321 00:17:48,520 --> 00:17:51,840 Then you decide how you wish to proceed and where to. 322 00:17:51,960 --> 00:17:53,080 - Alright? - Okay, bye. 323 00:17:53,160 --> 00:17:54,000 - Thank you. - Thank you. 324 00:17:54,080 --> 00:17:55,080 - Bye, guys. - Buh bye. 325 00:17:55,200 --> 00:17:56,160 Buh bye. 326 00:17:59,560 --> 00:18:00,360 I was in. 327 00:18:00,440 --> 00:18:02,840 I was waiting for Anupam. He has built internet businesses. 328 00:18:02,960 --> 00:18:05,560 I thought if he said yes, I was ready to invest. 329 00:18:05,720 --> 00:18:07,200 I really wanted him to come on board. 330 00:18:07,280 --> 00:18:08,680 I was having difficulty 331 00:18:08,760 --> 00:18:09,640 - working with him. - I couldn't understand 332 00:18:09,720 --> 00:18:12,800 - whether Sourav was coachable to invest in a team. - Exactly. 333 00:19:09,760 --> 00:19:12,640 But Ahmedabad's Soham Pathak has just one passion. 334 00:19:12,720 --> 00:19:14,360 To help his mother become independent 335 00:19:14,440 --> 00:19:15,640 and settle her down in her career. 336 00:19:15,760 --> 00:19:17,720 [theme music playing] 337 00:19:41,040 --> 00:19:43,680 [theme music fading] 338 00:19:51,160 --> 00:19:52,240 - Greetings, Payal. - Hi. 339 00:19:52,360 --> 00:19:56,480 Sharks, I've struggled with losing weight all my life. 340 00:19:56,560 --> 00:19:59,120 No matter where I went, I was told the same thing. 341 00:19:59,200 --> 00:20:00,920 "Consume salads to lose weight." 342 00:20:01,000 --> 00:20:04,760 - How can one eat boring salads every day? - True. 343 00:20:04,920 --> 00:20:07,240 So, over time, I began making 344 00:20:07,320 --> 00:20:11,240 healthy, delicious, and creative salads for myself. 345 00:20:11,480 --> 00:20:14,200 Nowadays, people don't have time to make salads. 346 00:20:14,240 --> 00:20:16,560 Nor do they have creative options available. 347 00:20:16,640 --> 00:20:19,880 So, together, my son and I established The Simply Salad. 348 00:20:20,000 --> 00:20:21,960 [music playing] 349 00:20:22,040 --> 00:20:24,600 The Simply Salad is a cloud kitchen in Ahmedabad 350 00:20:24,680 --> 00:20:27,200 that delivers a variety of healthy, tasty and creative salads 351 00:20:27,280 --> 00:20:28,520 to your doorstep. 352 00:20:28,600 --> 00:20:31,960 It contains protein, fibre, vitamins, low fat and low carbs. 353 00:20:32,040 --> 00:20:34,680 We have kept the freshness intact, 354 00:20:34,760 --> 00:20:37,920 and given an Indian touch to all of our salads. 355 00:20:38,040 --> 00:20:40,440 Along with that, we've ensured they're affordable. 356 00:20:40,560 --> 00:20:41,960 You can order our salads 357 00:20:54,880 --> 00:20:56,000 - Wow! - Wow! 358 00:20:56,400 --> 00:20:57,280 Very nice. 359 00:20:57,360 --> 00:21:00,480 We easily deliver 80 to 90 orders in a day. 360 00:21:13,160 --> 00:21:15,240 - Nice. - And for that, our ask is 361 00:21:21,920 --> 00:21:24,520 I am normally very excited when it's a food pitch. 362 00:21:24,640 --> 00:21:27,840 But looking at salads... [chuckles] 363 00:21:30,000 --> 00:21:32,600 Firstly, welcome to Shark Tank, Payal. 364 00:21:32,760 --> 00:21:34,760 - Thank you. - I have never heard 365 00:21:34,840 --> 00:21:38,320 of a son using his mother's name as a middle name before. 366 00:21:38,400 --> 00:21:41,800 Was this your decision or was it yours, Payal? 367 00:21:41,880 --> 00:21:45,320 It was my decision because she's a single mother. 368 00:21:47,240 --> 00:21:50,760 Over the years, she has raised me single-handedly. 369 00:21:52,040 --> 00:21:54,160 I witnessed her journey as I grew up, 370 00:21:54,240 --> 00:21:58,560 and I understood that she deserves my name to have Payal in it. 371 00:22:00,640 --> 00:22:02,520 - How old are you? - 19 years. 372 00:22:02,600 --> 00:22:03,840 - Whoa! - Wow. 373 00:22:04,080 --> 00:22:04,920 Hats off. 374 00:22:06,360 --> 00:22:10,480 Payal, tell us how The Simply Salad came into being. 375 00:22:10,600 --> 00:22:16,400 I hail from a city called Dhoraji which is near Rajkot. 376 00:22:16,520 --> 00:22:18,760 I have studied MCom, 377 00:22:18,880 --> 00:22:22,160 after which I pursued cabin crew training at Frankfinn Institute. 378 00:22:22,240 --> 00:22:25,120 We moved to Ahmedabad after marriage. 379 00:22:25,240 --> 00:22:29,560 - Soham was two when I filed for divorce. - Okay. 380 00:22:29,640 --> 00:22:31,720 By God's grace, the judgement was passed in my favour 381 00:22:31,800 --> 00:22:33,480 and I got Soham's custody. 382 00:22:35,840 --> 00:22:38,000 Two years later when I came to Ahmedabad, 383 00:22:38,080 --> 00:22:41,360 I was working in British Airways as a reservation counter officer. 384 00:22:41,440 --> 00:22:42,400 Okay. 385 00:22:42,640 --> 00:22:44,120 But the income from my job wasn't enough. 386 00:22:44,200 --> 00:22:47,040 The PG business in Ahmedabad was in trend at the time. 387 00:22:47,120 --> 00:22:49,720 I thought I'd let about 5 girls stay with us. 388 00:22:49,800 --> 00:22:51,440 It'd be a source of income, 389 00:22:51,520 --> 00:22:54,680 and Soham would have some support in the case of my absence. 390 00:22:54,760 --> 00:22:56,240 What does PG stand for? 391 00:22:56,360 --> 00:22:57,240 Paying guest. 392 00:22:57,360 --> 00:22:58,880 Oh, paying guest! 393 00:22:59,000 --> 00:23:00,320 I quit my job 394 00:23:00,400 --> 00:23:03,360 and I was focusing completely on the PG business. 395 00:23:03,440 --> 00:23:07,480 In this manner, I had almost 150 girls before Covid set in. 396 00:23:07,560 --> 00:23:10,120 - Wow! - But life's a rollercoaster. 397 00:23:10,200 --> 00:23:13,320 When Covid returned, all the girls left. 398 00:23:14,240 --> 00:23:16,480 We used up all our savings. 399 00:23:16,560 --> 00:23:19,760 We noticed Swiggy and Zomato making frequent deliveries there. 400 00:23:19,880 --> 00:23:20,880 Only bachelors stayed back. 401 00:23:20,960 --> 00:23:23,240 Families went back to their villages on account of Covid. 402 00:23:23,320 --> 00:23:25,040 They needed food. 403 00:23:25,240 --> 00:23:28,280 Soham and I decided to sell food 404 00:23:28,400 --> 00:23:31,080 for which we'd have no competitors in the market. 405 00:23:31,240 --> 00:23:32,720 You know, something different. 406 00:23:33,720 --> 00:23:37,840 Everything mom made for me used to be healthy as well as tasty. 407 00:23:37,920 --> 00:23:40,280 Let's take white sauce pasta for instance. 408 00:23:40,360 --> 00:23:41,640 That's unhealthy if you see. 409 00:23:41,720 --> 00:23:44,440 It has Mayo and the pasta is made from flour. 410 00:23:44,520 --> 00:23:46,680 She used to make wheat pasta with hung curd. 411 00:23:46,760 --> 00:23:49,880 I realised that mom had a skill set. 412 00:23:49,960 --> 00:23:51,360 Why not give it a platform? 413 00:23:51,520 --> 00:23:52,440 Wow. 414 00:23:52,840 --> 00:23:55,480 That's when we set up The Simply Salad. 415 00:23:55,560 --> 00:23:57,880 - Amazing. - Very nice. 416 00:23:59,840 --> 00:24:02,400 Soham, what about the future? Don't you want to study further? 417 00:24:02,480 --> 00:24:04,160 - I am studying. - Where? 418 00:24:04,240 --> 00:24:06,080 I study in Ahmedabad University 419 00:24:06,160 --> 00:24:07,880 in the second year of BBA (Hons.), Finance and Economics. 420 00:24:07,960 --> 00:24:09,160 - Very good. - Okay. Good. 421 00:24:09,240 --> 00:24:10,400 You're working simultaneously. 422 00:24:10,480 --> 00:24:11,440 - Yes. - Very good. 423 00:24:11,560 --> 00:24:15,400 How do you divide responsibilities amongst yourselves? 424 00:24:15,480 --> 00:24:17,560 What does Soham do? 425 00:24:17,640 --> 00:24:19,320 I handle the recipe bit. 426 00:24:19,440 --> 00:24:23,520 I do the work of keeping everything ready in the morning. 427 00:24:23,600 --> 00:24:26,680 Let's suppose we have 50 orders and three drivers. 428 00:24:26,760 --> 00:24:30,720 Soham oversees which orders will be fulfilled by which drivers. 429 00:24:30,800 --> 00:24:34,560 Other than that, Soham oversees finance as well as social media. 430 00:24:34,640 --> 00:24:36,640 - Barring that... - Have you hired any manager? 431 00:24:36,720 --> 00:24:37,840 - No. - Not yet. 432 00:24:37,960 --> 00:24:40,320 Will your salad reach every Shark or not? 433 00:24:40,920 --> 00:24:41,800 Sure. 434 00:24:43,000 --> 00:24:45,720 [upbeat music playing] 435 00:24:47,200 --> 00:24:48,880 I don't eat salads. 436 00:24:48,960 --> 00:24:50,920 - Here, sir. You'll enjoy it. It's for you. - Eat it. 437 00:24:51,000 --> 00:24:52,360 - Come on. - Why do I get the special one? 438 00:24:52,440 --> 00:24:53,760 Everybody gets a special one. 439 00:24:53,920 --> 00:24:54,960 But I don't eat salads. 440 00:24:55,040 --> 00:24:56,560 You will like it, believe me. I promise. 441 00:24:56,640 --> 00:24:58,240 Try it. Try a spoon. 442 00:24:59,680 --> 00:25:01,400 - What is this? - This is the magic salad bowl. 443 00:25:01,480 --> 00:25:02,360 Magic salad. 444 00:25:02,440 --> 00:25:03,840 - Okay... - I want something without milk. 445 00:25:03,920 --> 00:25:05,640 - Does it contain milk? - None of them have milk. 446 00:25:05,720 --> 00:25:07,920 - There's paneer. - I'll take this. 447 00:25:08,600 --> 00:25:10,200 - Thanks. - This is the sprout bowl. 448 00:25:12,640 --> 00:25:14,760 - This is the magic salad. - Oh, magic! 449 00:25:16,280 --> 00:25:18,040 What is this, Payal? 450 00:25:18,120 --> 00:25:20,120 - This is multigrain mamra. - Okay. 451 00:25:29,800 --> 00:25:31,160 The salad is very good. 452 00:25:31,240 --> 00:25:32,200 Thank you. 453 00:25:34,000 --> 00:25:36,280 The cranberry flavour was good. 454 00:25:36,360 --> 00:25:37,840 A little sweet touch. 455 00:25:38,160 --> 00:25:38,880 What is this? 456 00:25:39,000 --> 00:25:41,920 This has mamra and green chutney. 457 00:25:42,040 --> 00:25:43,920 - Is this green chutney or some other dressing? - Wow! 458 00:25:44,040 --> 00:25:45,400 Look at him saying wow! 459 00:25:45,480 --> 00:25:47,160 He used to have bland food with me! 460 00:25:47,240 --> 00:25:48,840 [chuckling] 461 00:25:50,040 --> 00:25:51,480 Do you have more of this? 462 00:25:52,320 --> 00:25:54,160 - Give me mamra too. - This one... 463 00:25:55,640 --> 00:25:57,680 This is the best. This product is a winner. 464 00:25:57,760 --> 00:26:00,040 [pleasant music playing] 465 00:26:04,400 --> 00:26:05,640 You were right. 466 00:26:05,760 --> 00:26:10,440 I think her healthy plus tasty touch really shows in her food. 467 00:26:10,560 --> 00:26:13,320 It contains a hidden ingredient. That is her love. 468 00:26:13,400 --> 00:26:16,440 Aw! That's so sweet. Mother's love! 469 00:26:16,520 --> 00:26:19,640 [music fades] 470 00:26:21,760 --> 00:26:24,160 [tense music playing] 471 00:26:26,480 --> 00:26:28,520 It's okay. It's good. 472 00:26:29,600 --> 00:26:34,120 Payal, I am now your customer for the foreseeable future. 473 00:26:34,200 --> 00:26:35,200 Thank you. 474 00:26:35,640 --> 00:26:38,240 Tell us the price of this bowl. 475 00:26:38,360 --> 00:26:41,120 If you opt for a weekly subscription, 476 00:26:41,240 --> 00:26:44,600 - it will cost Rs. 180 per day. - Wow! That's nothing. 477 00:26:51,040 --> 00:26:53,280 The average price on Swiggy and Zomato is Rs. 350 to 400 478 00:26:53,360 --> 00:26:54,480 for a good salad. 479 00:26:55,800 --> 00:26:57,760 Tell us your business model. 480 00:26:57,880 --> 00:27:02,400 The total of weekly and monthly subscribers is 50 out of 80. 481 00:27:02,480 --> 00:27:03,560 - Wow. - Okay. 482 00:27:03,680 --> 00:27:06,400 - Wow! - And Swiggy and Zomato 483 00:27:06,480 --> 00:27:09,880 is 30 sometimes and 35 at times. It keeps fluctuating. 484 00:27:10,000 --> 00:27:12,440 That is our bifurcation, 64% and 36%. 485 00:27:12,520 --> 00:27:14,880 What is the combined revenue per month? 486 00:27:14,960 --> 00:27:16,400 It's Rs. 4.42 lakhs per month. 487 00:27:16,480 --> 00:27:18,880 Okay. And the margin must be quite good. 488 00:27:18,960 --> 00:27:22,920 Yes. So, gross is 64% and the net is 47%. 489 00:27:31,160 --> 00:27:35,120 - Could you tell me what is your business plan? - So... 490 00:27:35,200 --> 00:27:37,040 Let's start with the radius. 491 00:27:37,120 --> 00:27:41,240 The Simply Salad covers 35% to 40% of the market in Ahmedabad as of now 492 00:27:41,320 --> 00:27:43,720 and we wish to set up two outlets. 493 00:27:43,800 --> 00:27:46,880 One in the Gota area and the other in Shahibaug. 494 00:27:47,080 --> 00:27:48,840 Then we can cover the whole of Ahmedabad 495 00:27:48,960 --> 00:27:50,640 where there is the target audience for salads. 496 00:27:50,720 --> 00:27:52,760 - Where... - Your business will grow 3x. 497 00:27:52,880 --> 00:27:54,320 - Right? Continue. - Yes. 498 00:27:54,400 --> 00:27:56,760 Our marketing cost so far has been zero. 499 00:27:56,880 --> 00:28:01,040 I used to tell mom to give me about Rs. 5000 a month 500 00:28:01,120 --> 00:28:03,960 which I could use towards promotion on Instagram to get orders. 501 00:28:04,040 --> 00:28:06,320 So, your business is growing organically. 502 00:28:06,400 --> 00:28:07,320 Organically, yes. 503 00:28:07,440 --> 00:28:08,880 - Word of mouth. - Yes. 504 00:28:09,000 --> 00:28:09,840 Vineeta. 505 00:28:10,360 --> 00:28:12,720 [intense music playing] 506 00:28:13,520 --> 00:28:16,480 Look, if we were to define your business, 507 00:28:16,920 --> 00:28:18,920 then this is primarily 508 00:28:19,480 --> 00:28:22,760 a salad meal service. Right? 509 00:28:23,000 --> 00:28:25,320 Subscription is just a fancy name given to it nowadays. 510 00:28:25,440 --> 00:28:26,960 - But it's a light meal service, okay? - Yes. 511 00:28:27,040 --> 00:28:29,560 You get some income through Swiggy and Zomato. 512 00:28:29,640 --> 00:28:32,920 I want to hear from both of you what you want in the end. 513 00:28:33,120 --> 00:28:35,960 - I will answer this in a slightly different way. - Okay, sure. 514 00:28:36,040 --> 00:28:40,480 If someone asks me what my investment or saving is, 515 00:28:40,600 --> 00:28:42,280 I say it is my son. 516 00:28:42,680 --> 00:28:44,120 Yes, lovely. 517 00:28:44,200 --> 00:28:47,600 My end goal is for him to do well for himself. 518 00:28:47,800 --> 00:28:49,200 That's where I wish to... 519 00:28:49,520 --> 00:28:51,360 What is your definition of doing well? 520 00:28:51,560 --> 00:28:53,000 How much money do you wish to earn? 521 00:28:53,080 --> 00:28:55,520 I want that within 5 years, 522 00:28:55,600 --> 00:29:00,200 we should be earning around Rs. 50 to 60 lakhs per month. 523 00:29:01,920 --> 00:29:04,160 - Rs. 6 crore sales in a year. - Yes. 524 00:29:04,240 --> 00:29:07,960 I want this to be India's top-rated salad outlet as well as chain. 525 00:29:08,040 --> 00:29:12,760 I think you wish to expand this and take it to the next level. 526 00:29:12,840 --> 00:29:14,920 You have to hire a business manager for it. 527 00:29:15,040 --> 00:29:16,400 - You'll have to give him a shareholding... - Yes. 528 00:29:16,520 --> 00:29:18,960 - so that he has a vested interest to grow the company. - Yes. 529 00:29:19,040 --> 00:29:19,840 - Right? - Yes. 530 00:29:19,920 --> 00:29:22,240 - It can grow into a big business. - Hmm. 531 00:29:22,520 --> 00:29:26,200 So, Vineeta and I would like to give you an offer. 532 00:29:26,280 --> 00:29:27,800 This is a miracle! 533 00:29:28,280 --> 00:29:31,480 Someone who loves Butter Chicken is investing in a salad company! 534 00:29:31,560 --> 00:29:32,800 It indeed is a miracle! 535 00:29:32,920 --> 00:29:34,280 It's business after all! 536 00:29:34,360 --> 00:29:36,120 [unanimous laughter] 537 00:29:37,440 --> 00:29:39,480 Payal, what according to you, 538 00:29:39,560 --> 00:29:42,080 is an entrepreneur's most important quality? 539 00:29:43,360 --> 00:29:44,560 Consistency, 540 00:29:44,680 --> 00:29:47,360 - sheer perseverance no matter what... - Absolutely. 541 00:29:47,440 --> 00:29:49,000 never give up. 542 00:29:49,080 --> 00:29:50,200 That's called grit. 543 00:29:50,280 --> 00:29:55,160 Studies show that mothers are strong and full of grit. 544 00:29:55,240 --> 00:30:00,080 And the grit single mothers possess is on another level. 545 00:30:00,160 --> 00:30:03,560 And I think you're thinking small, Rs. 5 to 6 crores. 546 00:30:03,640 --> 00:30:07,200 - This could become a really big business. - It can. 547 00:30:07,320 --> 00:30:09,040 Aman and I would like to make an offer. 548 00:30:09,120 --> 00:30:11,640 - Exactly what you asked for. - Okay. 549 00:30:11,760 --> 00:30:13,560 Rs. 30 lakhs for 10% equity. 550 00:30:21,320 --> 00:30:23,120 That's the biggest smile. 551 00:30:23,240 --> 00:30:24,400 I just... 552 00:30:41,480 --> 00:30:43,560 Grit, gratitude and Gupta! 553 00:30:45,240 --> 00:30:47,560 - Okay, you have one offer. - Yes. 554 00:30:47,640 --> 00:30:49,760 Namita and Anupam, what have you thought? 555 00:30:49,840 --> 00:30:51,280 - I am out. - Okay. 556 00:30:52,520 --> 00:30:56,280 But I am ecstatic that you got such a great offer 557 00:30:56,360 --> 00:31:00,280 because you're in need of branding and consumer insight. 558 00:31:00,360 --> 00:31:04,920 And you can't get better investors than Vineeta and Aman as a combo, 559 00:31:05,040 --> 00:31:06,560 because you deserve it. 560 00:31:06,680 --> 00:31:07,960 - Thank you, ma'am. - Thank you so much. 561 00:31:08,040 --> 00:31:10,080 Let me share my view. 562 00:31:10,360 --> 00:31:12,400 - It's slightly different. Slightly... - Yes. 563 00:31:12,480 --> 00:31:15,760 - Not what you see on the internet or superficial. - Yes. 564 00:31:15,840 --> 00:31:18,880 - Go a little deeper and study health and nutrition. - Okay. 565 00:31:18,960 --> 00:31:20,720 Understand and evaluate it. 566 00:31:20,800 --> 00:31:22,440 Go deep into it. 567 00:31:22,520 --> 00:31:26,000 In future, you could provide complete meal services 568 00:31:26,080 --> 00:31:27,880 based just on health and nutrition. 569 00:31:28,160 --> 00:31:30,480 You told me about your dream. 570 00:31:30,560 --> 00:31:34,200 You wish to make Rs. 5 to 6 crores in about 5 years. 571 00:31:34,800 --> 00:31:37,480 I don't think you need investment for that. 572 00:31:37,560 --> 00:31:40,760 Your current strategy got you here and it'll help you reach your goal. 573 00:31:40,840 --> 00:31:42,840 [intense music playing] 574 00:31:42,920 --> 00:31:45,240 When a person takes an investment, 575 00:31:45,320 --> 00:31:48,440 the company's direction changes, no matter who he takes it from. 576 00:31:49,160 --> 00:31:51,040 So, I am out today. 577 00:31:51,560 --> 00:31:53,640 Um, but good luck to you 578 00:31:54,400 --> 00:31:55,720 in whatever path you choose. 579 00:31:55,800 --> 00:31:57,120 - Thank you, sir. - Thank you. 580 00:31:58,560 --> 00:32:00,480 We let the businesses that come here know 581 00:32:00,600 --> 00:32:02,440 that subscriptions don't work in India. 582 00:32:02,720 --> 00:32:04,680 You're the first company that has said 583 00:32:04,760 --> 00:32:07,800 that 60% of your business comes through subscriptions. 584 00:32:07,880 --> 00:32:09,400 - Yes. - I think you should focus on that 585 00:32:09,480 --> 00:32:13,360 because if you wish to scale up, you might just disrupt this. 586 00:32:17,040 --> 00:32:18,520 I am out. 587 00:32:18,600 --> 00:32:20,640 If they had not made you an offer, then I would have. 588 00:32:20,720 --> 00:32:22,560 But I think this is a good offer 589 00:32:22,680 --> 00:32:24,640 and they both are very capable of helping you. 590 00:32:25,280 --> 00:32:27,720 Thanks for the recommendation. 591 00:32:27,800 --> 00:32:30,480 Do you remember what Vineeta's two G's were? 592 00:32:30,600 --> 00:32:31,680 Yes, grit and gratitude. 593 00:32:31,760 --> 00:32:33,200 - The third G? - Mr. Gupta. 594 00:32:33,280 --> 00:32:36,320 So let's just stop with all the lecturing then! 595 00:32:36,920 --> 00:32:38,520 [laughs] 596 00:32:38,600 --> 00:32:39,880 Lecturing! 597 00:32:40,720 --> 00:32:43,600 Let's get down to business. Start? Do we have a deal? 598 00:32:43,680 --> 00:32:44,960 - Yes. - Done deal. 599 00:33:02,040 --> 00:33:04,480 [pleasant music playing] 600 00:34:14,000 --> 00:34:16,760 [theme music playing] 601 00:34:31,760 --> 00:34:34,600 [theme music fading] 602 00:34:36,800 --> 00:34:38,800 Sharks, heart and lung diseases 603 00:34:38,880 --> 00:34:41,920 are the top two killers not just in India, but all over the world. 604 00:34:42,000 --> 00:34:43,160 Yes, true. 605 00:34:43,240 --> 00:34:45,480 A hole in a child's heart, 606 00:34:45,600 --> 00:34:47,320 issues in the heart valves of the elderly, 607 00:34:47,440 --> 00:34:49,120 asthma, COPD, 608 00:34:49,280 --> 00:34:52,320 in all these diseases, the heart and lung sounds are abnormal. 609 00:34:52,440 --> 00:34:55,360 With the help of these sounds and symptoms, 610 00:34:55,440 --> 00:34:56,720 doctors arrive at a diagnosis. 611 00:34:56,840 --> 00:34:59,360 But it's not easy to hear these sounds. 612 00:35:00,360 --> 00:35:03,840 Even today, these sounds have to be heard with the help 613 00:35:03,960 --> 00:35:05,840 of a 200-year-old technology. 614 00:35:06,440 --> 00:35:08,160 We're talking about a stethoscope. 615 00:35:08,800 --> 00:35:10,360 [chuckles] 616 00:35:10,480 --> 00:35:13,080 From toothpaste ads to clinics, 617 00:35:13,360 --> 00:35:15,120 a doctor is identified with his stethoscope. 618 00:35:15,200 --> 00:35:16,120 [laughs] 619 00:35:16,240 --> 00:35:17,760 That's a good point! 620 00:35:18,560 --> 00:35:19,360 That's funny. 621 00:35:19,480 --> 00:35:22,120 A doctor isn't complete without a stethoscope. 622 00:35:22,240 --> 00:35:24,040 Like 'Munna Bhai MBBS'. 623 00:35:26,000 --> 00:35:28,880 Sharks, in the last 200 years, 624 00:35:28,920 --> 00:35:31,080 technology has advanced from the huge gramophone 625 00:35:31,280 --> 00:35:33,880 to tiny boAt ear pods. 626 00:35:33,960 --> 00:35:35,880 But why is there no advancement in stethoscopes? 627 00:35:36,880 --> 00:35:40,200 So, we're here with a long-awaited upgrade. 628 00:35:40,280 --> 00:35:41,720 Presenting AyuSynk. 629 00:35:41,840 --> 00:35:42,680 Wow. 630 00:35:53,320 --> 00:35:55,200 This is a normal stethoscope. 631 00:35:55,480 --> 00:35:58,120 We just need to remove the chest piece 632 00:35:58,800 --> 00:36:02,320 and attach our device AyuSynk to it. 633 00:36:02,480 --> 00:36:06,120 It transforms a normal stethoscope into a digital one in minutes. 634 00:36:06,520 --> 00:36:07,400 Oh! 635 00:36:23,320 --> 00:36:25,800 Our device has been granted a US patent. 636 00:36:29,360 --> 00:36:31,360 to every corner of the world 637 00:36:31,480 --> 00:36:34,280 and upgrading all normal stethoscopes to digital ones. 638 00:36:34,360 --> 00:36:37,440 Our ask is Rs. 1 crore in exchange for 1.5% equity. 639 00:36:43,120 --> 00:36:45,680 - Welcome to Shark Tank season 2. - Yes. 640 00:36:45,760 --> 00:36:47,800 I'm really curious. 641 00:36:47,920 --> 00:36:49,880 In the absence of physical contact, 642 00:36:50,160 --> 00:36:54,600 how can you examine a patient in Dehradun while in Mumbai? 643 00:36:54,680 --> 00:36:57,360 So, this is our device. It has two modes, heart and lung. 644 00:37:08,760 --> 00:37:10,080 [chuckles] 645 00:37:10,200 --> 00:37:11,320 Certainly. 646 00:37:12,120 --> 00:37:15,120 You could've called a woman to listen to your heartbeat. 647 00:37:15,200 --> 00:37:17,000 [chuckles] 648 00:37:17,080 --> 00:37:18,600 Why are you making Peyush listen to it? 649 00:37:21,320 --> 00:37:24,040 You will hear my heartbeat now. This is the normal mode. 650 00:37:24,160 --> 00:37:26,960 - You'll also hear ambient noise. - Ambient noise will be heard. 651 00:37:29,240 --> 00:37:31,880 [heart beating] 652 00:37:31,960 --> 00:37:33,200 I can hear your heartbeat. 653 00:37:33,280 --> 00:37:36,200 You can hear the heartbeat as well as the background noise. 654 00:37:36,280 --> 00:37:38,840 - I'll activate the heart mode now. - Switch to heart mode. 655 00:37:39,080 --> 00:37:41,480 [intense music playing] 656 00:37:42,120 --> 00:37:43,200 Now, listen to it. 657 00:37:43,560 --> 00:37:48,000 You won't hear the background noise anymore. 658 00:37:49,920 --> 00:37:52,240 I can hear you, but this is louder. 659 00:37:52,360 --> 00:37:54,160 [heart beating] 660 00:37:54,240 --> 00:37:55,600 What about the lungs? 661 00:37:58,600 --> 00:38:00,280 - I can hear you breathe. - Yes. 662 00:38:00,360 --> 00:38:02,000 You can hear it with a normal stethoscope too. 663 00:38:02,040 --> 00:38:03,320 - But this is clear. - Yes. 664 00:38:04,560 --> 00:38:08,240 Suppose you live in the village and suffer from heart problems. 665 00:38:08,280 --> 00:38:10,440 If you wish to consult a specialist, 666 00:38:10,520 --> 00:38:12,680 we have an app through which 667 00:38:12,760 --> 00:38:16,200 you can share these sounds with a specialist. 668 00:38:17,400 --> 00:38:18,880 So, there's a recording mode too. 669 00:38:19,320 --> 00:38:22,040 [music playing] 670 00:38:22,840 --> 00:38:23,960 What's happening? 671 00:38:23,960 --> 00:38:25,960 Why has his heart's electrical activity turned red? 672 00:38:28,000 --> 00:38:30,680 - Red indicates that the recording has begun. - Recording mode. 673 00:38:30,760 --> 00:38:31,800 Oh, I see. 674 00:38:32,800 --> 00:38:36,040 It is equipped with Bluetooth that transfers all the data. 675 00:38:39,600 --> 00:38:43,000 and that data is transferred to a city doctor through your app. 676 00:38:43,080 --> 00:38:43,920 Yes. 677 00:38:44,000 --> 00:38:46,440 He will analyse it and advise the doctor in the village. 678 00:38:46,560 --> 00:38:48,520 - Yes. - That's how it happens. 679 00:38:48,600 --> 00:38:51,040 - Do you have to place it in different positions? - Yes. 680 00:38:51,120 --> 00:38:53,440 - In the positions that are demonstrated in the image. - Yes. 681 00:38:53,520 --> 00:38:54,400 Wonderful. 682 00:38:54,560 --> 00:38:56,640 [music playing] 683 00:38:57,080 --> 00:38:59,560 There are 4 locations in the heart and 18 in the lungs. 684 00:38:59,640 --> 00:39:02,240 - Oh. - So, they must be familiar with the sounds from all locations. 685 00:39:02,320 --> 00:39:05,280 Doesn't this exist yet? Has nobody attempted it? 686 00:39:05,400 --> 00:39:08,480 - Digital stethoscope already exists. - Okay. 687 00:39:08,560 --> 00:39:11,440 But the difference is that the Indian context is different. 688 00:39:11,520 --> 00:39:12,680 The context is different. 689 00:39:12,760 --> 00:39:14,000 It is a heart after all. 690 00:39:15,000 --> 00:39:17,800 In India, a doctor doesn't get ample time 691 00:39:17,880 --> 00:39:20,120 - to examine a patient. - True. 692 00:39:20,160 --> 00:39:24,120 This helps the doctor reduce the time taken for diagnosis. 693 00:39:24,520 --> 00:39:26,840 There are two benefits. One is remote tele-auscultation. 694 00:39:37,360 --> 00:39:40,720 Here's the recording of a 5-year-old with congenital heart disease. 695 00:39:42,320 --> 00:39:43,720 [distorted heartbeat] 696 00:39:43,800 --> 00:39:46,080 The heartbeat of a person with a hole in their heart 697 00:39:46,080 --> 00:39:47,280 will sound like this. 698 00:39:47,480 --> 00:39:50,360 So, your device guides the doctor. 699 00:39:50,560 --> 00:39:52,720 It helps doctors 700 00:39:52,840 --> 00:39:55,480 revise their decision based on these inputs. 701 00:39:55,600 --> 00:39:56,640 Understood. 702 00:39:58,120 --> 00:40:00,480 - Can you show us the product? - Sure. 703 00:40:00,720 --> 00:40:03,360 [music playing] 704 00:40:19,320 --> 00:40:20,400 What about the others? 705 00:40:24,440 --> 00:40:26,200 How is the equity structure split? 706 00:40:26,320 --> 00:40:28,800 43, 32, 20. 707 00:40:28,880 --> 00:40:30,120 - Very good. - Nice. 708 00:40:30,200 --> 00:40:34,440 We have a little over 1% for the mentor at IIT Mumbai. 709 00:40:36,000 --> 00:40:38,840 Clarify something for me. I have a question. 710 00:40:40,280 --> 00:40:42,800 For doctors in a full-fledged practice today, 711 00:40:42,880 --> 00:40:44,840 where do they buy their stethoscopes from? 712 00:40:44,880 --> 00:40:49,600 Do they buy it or get it as a gift from pharmaceutical companies? 713 00:40:49,720 --> 00:40:50,840 Both, sir. 714 00:40:50,920 --> 00:40:54,560 How many are bought and how many are received as gifts? 715 00:40:54,640 --> 00:40:56,440 We don't have the data. 716 00:40:56,520 --> 00:40:58,600 What's the market size for stethoscopes in India? 717 00:40:58,680 --> 00:41:00,800 There are around 25 lakh doctors. 718 00:41:00,880 --> 00:41:04,040 95,000 medical students graduate every year. 719 00:41:04,160 --> 00:41:06,120 Tell me the value of the market size. 720 00:41:06,200 --> 00:41:07,840 Yes, 25 lakhs multiplied by 5000. 721 00:41:07,920 --> 00:41:10,200 - Come on, they don't buy it every year. - Yes. 722 00:41:10,280 --> 00:41:11,480 Divided by 5. 723 00:41:11,560 --> 00:41:14,640 They change it once in five years. 724 00:41:15,280 --> 00:41:16,240 Okay, thank you. 725 00:41:16,320 --> 00:41:18,400 So, around 250 crores. 726 00:41:19,280 --> 00:41:22,000 What's the pricing? Not MRP, but the price to the customer. 727 00:41:22,080 --> 00:41:22,960 12,000. 728 00:41:23,040 --> 00:41:25,440 What's your making cost? 729 00:41:29,400 --> 00:41:30,520 How many did you sell last month? 730 00:41:43,400 --> 00:41:44,720 Around 7 crores. 731 00:41:44,800 --> 00:41:47,440 - Okay. - What will be your net EBITDA? 732 00:41:47,520 --> 00:41:48,360 18%. 733 00:41:48,480 --> 00:41:50,760 - So, around 1.5 crores. - EBITDA. 734 00:41:50,840 --> 00:41:53,160 Considering existing sales, 735 00:41:53,240 --> 00:41:56,240 if we push it for a lower price 736 00:41:56,320 --> 00:41:57,720 - then... Yes. - 1 crore. 737 00:41:59,160 --> 00:42:02,520 I have a rapid-fire test. I will ask you 4 to 5 questions. 738 00:42:02,640 --> 00:42:03,760 - First... - 4 to 5? 739 00:42:03,840 --> 00:42:04,800 Just a minute! 740 00:42:04,880 --> 00:42:06,480 [laughs] 741 00:42:07,800 --> 00:42:11,800 Firstly, you have sold 5000 devices. 742 00:42:11,880 --> 00:42:12,880 Who were the buyers? 743 00:42:13,080 --> 00:42:16,280 90% of the sales are to telemedicine companies 744 00:42:16,360 --> 00:42:18,680 - and 10% are to B2C doctors. - Okay. 745 00:42:18,760 --> 00:42:21,840 When you sold it to B2C doctors, what was the feedback? 746 00:42:22,760 --> 00:42:24,880 Initially, the feedback was not really great 747 00:42:25,000 --> 00:42:26,560 because there were adoption changes. 748 00:42:26,640 --> 00:42:29,720 We worked on it, and now people are giving 749 00:42:29,800 --> 00:42:32,880 9 out of 10 for the heart zone and 7 out of 10 for the lungs zone. 750 00:42:32,960 --> 00:42:34,920 - How many versions do you have? - Three. 751 00:42:35,000 --> 00:42:37,400 Which version did the 5000 sales belong to? 752 00:42:37,480 --> 00:42:38,720 Major and mid-versions. 753 00:42:51,400 --> 00:42:54,920 - You will buy the raw material with the funds. - Correct. 754 00:43:04,880 --> 00:43:07,040 This is not my specialisation. 755 00:43:07,120 --> 00:43:08,600 So, I'm out. 756 00:43:08,720 --> 00:43:11,120 [intense music playing] 757 00:43:11,240 --> 00:43:12,960 Let me help you. 758 00:43:18,440 --> 00:43:21,360 - That's the MRP. - What's your average selling price? 759 00:43:21,440 --> 00:43:23,560 Normally, 13,000 or 14,000. 760 00:43:23,640 --> 00:43:24,720 That's high too. 761 00:43:25,880 --> 00:43:28,400 If you steer towards mass adoption, 762 00:43:28,480 --> 00:43:30,280 then your product will be adopted quickly. 763 00:43:30,360 --> 00:43:32,760 - Correct. - If a few doctors begin using it, 764 00:43:32,840 --> 00:43:34,600 the others will follow suit. 765 00:43:34,680 --> 00:43:35,880 We require funds for that, sir. 766 00:43:35,960 --> 00:43:38,200 Yes, I got that. But steer towards that. 767 00:43:38,320 --> 00:43:40,640 That is my advice. For this, I'm out. 768 00:43:42,840 --> 00:43:45,040 You sure are innovating, 769 00:43:45,120 --> 00:43:47,960 but this seems like a solution that's looking for a problem. 770 00:43:48,040 --> 00:43:49,880 The market seems small to me. 771 00:43:49,960 --> 00:43:52,960 I also believe that doctors are very resistant to change. 772 00:43:53,080 --> 00:43:55,680 It takes a long time to change habits. 773 00:43:55,760 --> 00:43:57,840 The person sitting next to me 774 00:43:59,200 --> 00:44:00,560 is a medical dragon. 775 00:44:01,920 --> 00:44:04,400 If there are any pitches related to the medical industry, 776 00:44:04,480 --> 00:44:07,080 she doesn't even let me speak. 777 00:44:10,080 --> 00:44:13,720 So, please speak to her. The goddess of pharma! 778 00:44:13,840 --> 00:44:15,160 As she says... 779 00:44:15,480 --> 00:44:17,520 You're so dramatic! 780 00:44:17,600 --> 00:44:19,240 - Okay? - He's getting worse 781 00:44:41,200 --> 00:44:43,280 I'm a dolphin most of the time. 782 00:44:43,360 --> 00:44:45,360 Whenever I see a good healthcare deal, 783 00:44:45,440 --> 00:44:47,280 the shark within me wakes up. 784 00:44:47,520 --> 00:44:48,920 [scoffs] 785 00:44:49,920 --> 00:44:52,680 - I'll make a solo deal. - Go ahead. 786 00:44:52,880 --> 00:44:55,800 [intense music playing] 787 00:44:55,920 --> 00:44:59,000 Because I need a higher stake and I'll tell you why. 788 00:45:00,000 --> 00:45:02,680 There is a lot of work to do in three areas. 789 00:45:03,800 --> 00:45:06,840 First, you have to reduce the manufacturing cost. 790 00:45:07,840 --> 00:45:09,080 You have to reduce the pricing. 791 00:45:09,160 --> 00:45:13,640 The second point is that you have to make a strong sales team, 792 00:45:13,840 --> 00:45:16,240 business development team, and then of course, 793 00:45:16,360 --> 00:45:20,080 thirdly, it requires a lot of education and awareness. 794 00:45:20,160 --> 00:45:24,040 It is a very big market. You know that. 795 00:45:25,520 --> 00:45:28,600 So, I'll offer you Rs. 50 lakhs for 4%. 796 00:45:30,880 --> 00:45:34,560 And Rs. 50 lakhs in debt at 10% interest. 797 00:45:44,000 --> 00:45:46,080 [intense music playing] 798 00:46:20,360 --> 00:46:22,320 What have you decided? Are you making the deal or not? 799 00:46:22,360 --> 00:46:23,800 Sharks, thank you for the offer. 800 00:46:26,120 --> 00:46:27,240 We have a counteroffer. 801 00:46:29,600 --> 00:46:30,960 For 3.5%. 802 00:46:40,560 --> 00:46:42,880 [intense music playing] 803 00:46:43,160 --> 00:46:44,440 Go ahead, Namita. 804 00:46:47,280 --> 00:46:48,520 Okay, done. 805 00:46:48,720 --> 00:46:51,800 - I like to keep my founders happy. - Thank you. 806 00:47:05,200 --> 00:47:07,800 Congratulations, guys, and I think you've done a good job. 807 00:47:07,920 --> 00:47:09,280 - Thank you. - Thank you. 808 00:48:21,000 --> 00:48:23,360 'Let's get to the Shark Xperience.' 809 00:48:23,440 --> 00:48:26,880 'Peyush, Rahul from New Delhi wants to know' 810 00:48:27,280 --> 00:48:30,000 'that you give a lot of importance to technology.' 811 00:48:30,080 --> 00:48:35,240 'According to you, what's the role of technology in business growth?' 812 00:48:36,320 --> 00:48:39,760 In my opinion, technology plays a big role.