[bubbling] [ethereal music]
[electricity crackling]
- Hello, Sharks! - Hello!
My name is Kalpit Patel
I'm unrelenting to make it big.
I'm unrelenting to bring about a revolution.
All of us saw a revolution in the mobile communication industry.
We moved on from landlines to personal mobile phones.
We observed a similar revolution in computers
from desktops to personal laptops.
We are bringing a similar revolution
in the passenger car segment with PMV.
Why do we use it?
We use it to go to the office, drop off the kids at school
and for shopping.
We travel
in five or seven-seater SUVs to complete all these tasks.
A 1,500 kg car
carries a person weighing 70 kg.
It creates several problems.
We are giving a single solution
for all the big problems
of personal mobility?
Introducing to you, EaS-E, Your Everyday Car.
[triumphant music]
Wow!
[chuckling]
[triumphant music]
Cute!
Thank you so much!
Vineeta can easily fit inside it.
[chuckling]
I'm not sure about you.
Sharks, EaS-E, Your Everyday Car
is India's first
PMV as a category similar to SUVs,
Sedan and Hatchback.
I'm standing before you
to fulfil this vision.
And I request Rs. 1 crore
to make EaS-E the second car of every Indian?
- Hi, Kalpit! - Hi!
- Welcome to Shark Tank season 2. - Thank you so much!
Why do your friends feel
I'm an engineer.
Later on, I completed my MBA and then worked in a bank.
I used to go to the office daily. It was 10 kilometres away
and it took me 45-60 minutes to reach there.
I always felt
that most personal cars have single or double occupancy.
So practically speaking, a small car was needed.
And it wasn't available in the market.
First, I decided what to make.
I didn't think about doing business.
We made a prototype and we made more prototypes later.
I did it around August 2018.
And that is when I was blessed with a baby girl
- in September 2018. - Congratulations!
I'm not making this up
but when I took her to see the doctor for the first time,
there was no parking near the clinic.
So I took her there in an autorickshaw.
When I took her out in an autorickshaw,
she started crying because of the pollution.
She started wailing and coughing.
That day I realised that we slog for our children.
We give them the best education, the best vacation and the best toys.
But what about the best air?
So I realised
that it's important to do it for the better future of our children.
That's when we formalised the company in 2018, November.
[upbeat music]
How is it possible
that you got an idea while travelling in an autorickshaw?
And you made a car within two years!
Not two years. Overall, I took six years.
I got the concept in 2016.
I learnt a plethora of things through experience.
I visited numerous garages.
I opened and inspected innumerable cars to see what's inside the car.
Bigger companies invest crores of rupees in R&D.
Or is this just assembled from parts all over the place?
I can only invest crores of rupees if you invest in us.
Boss, Rs. 1 crore won't help you.
Rs. 1 crore is a small part
of the bigger fundraising we are looking for.
Who designed it mainly?
Sir, multiple people helped me in the last five years.
And we also take help from outside vendors.
Typically, other OEMs also do the same.
I took their help and manufactured it
with a small team I made.
Is this design your team's
or your vendors'?
No. The design is ours.
And who is the second core team member besides you?
His name is Namdev Jhadkar.
He has 25 years of experience in vehicle building.
Are you done with all types of certifications?
Certifications need to be taken.
The engineering work is going on.
We need to get the certification to go for production.
I must appreciate you because it's a bold step.
Please explain its features
- Does your car run with an app? - Yes!
[ethereal music]
Can you see the lights?
For example, you're parking your car
but it's dark ahead.
So you can just switch on the headlights from your app.
Oh! Nice!
- Did you make this tech or... - Yes! We invented it.
- Nice! Very nice. - Its software?
- We made the software. - What about IoT?
- Everything! - Okay, very good!
Very cute!
Suppose, you park your car in a parking lot
but you don't remember where you parked your car.
Then you can remotely blow its horn.
That's cool.
It's cute.
In case, you parked your car
but another person parked his car close to yours on the left side
and on the right side too,
you may control your car
while standing outside.
Whoa!
- Wow! - Wow!
- It's an amazing feature. - Shall I sit in your car?
Anupam, come on!
[upbeat music]
Please take the picture of the person sitting on the lap.
Eternal love!
This is the instrument cluster and this is the infotainment system.
- Whenever you blow the horn... - Very nice!
A counter will be displayed here.
Normally,
a driver doesn't realise the impact of the horn.
But a number will be displayed here which will show
the number of times you honked so that you become conscious.
And you won't honk the horn again.
- And now we... - That's enough.
- Hey! - That's enough.
[upbeat music]
Kalpit, let me tell you
- that many features are good. - Thank you!
It's a new concept so all of us are curious about it.
And a heart is displayed when we blow the horn.
I think it's an innovative feature.
I feel it should be incorporated in regular cars to reduce the honking.
Correct!
Secondly, you've made the backseat spacious.
Why will it be the second? It can be the first too.
In a typical Indian household,
a car is a family-oriented item.
When a person buys a car,
they expect their first car to be a four-seater or a five-seater.
But this car is a two-seater.
Suppose he buys a bigger car.
Will he buy a smaller car later?
- Hmm! - Why?
For example,
we don't use an axe for shaving but a blade.
Because it's meant for the right purpose.
Similarly, if you want to travel for just 15 kilometres
and you'd travel alone,
driving a five-seater SUV
and getting stuck in the traffic jam doesn't make sense.
Kalpit, I have a question.
Have you heard about the Quadricycle concept in EV?
You must have heard about a popular quadricycle named Qute.
What's the difference between a quadricycle and a car?
What's the difference in their regulations?
Qute will be launched as an electric vehicle.
What's the difference between their car and your car?
Typically, when a car is launched,
it gets a Type Approval.
Quadricycle is L7 technically.
And the regular cars are in the M1 category.
Correct!
There is no speed restriction in the M1 category.
On the other hand, there's a speed restriction in the L7 category.
Around 70 km/hr is its top speed.
There's a weight restriction for it
and we can't load more than 450 kilograms.
Plus the weight of the battery pack.
And there's power restriction too.
We can't cross 15 kilowatts.
If you study Qute,
you'll realise that it's claustrophobic.
You won't feel that way in this car.
What is its price?
If I have Rs. 4 lakhs,
why would I buy it?
Sir, it can be driven for 50 paise.
Just 50 paise per kilometre.
Any electric car will cost the same.
It's slightly higher.
A bigger size car will cost rupee 1/km but the difference isn't much.
Safety-wise it's a compromise
because it's small and concise.
The safety is less than a normal car.
How many airbags? Please tell us that.
We can install it at an additional cost.
Then the car will cost Rs. 5 lakhs.
It'll be costlier.
- It could cost Rs. 6 lakhs. - Costlier!
Did you estimate
your market size
for microcars? For now, it's zero.
We haven't done promotional activities till now?
We have spent a little over maybe one and a half lakh rupees.
And we have already received 1,000 pre-orders
Obviously, all of them won't be converted.
Even before we go into production...
It's around next year, April.
We'll have 10,000 paid pre-orders before that.
And the order book size will be around Rs. 500 crores.
People in India closely link cars with perceptions.
So I don't think this specific design and model
has the potential to gain momentum.
[tense music]
If you choose to iterate your journey,
I think you will be able to crack the problem.
Best of luck to you. I'm out for now.
Thank you so much!
Kalpit, I don't think it'll sell.
It's neither a car nor a bike and it costs Rs. 4 lakhs.
I think there's some issue with it.
I'm not sure what the problem is.
As a consumer, I don't understand this product's usability.
So I don't want to enter this business.
- For that reason, I'm out. - Okay. Thank you so much!
And for that reason, I'm out but I wish you the best.
Thank you so much, ma'am.
- Kalpit, what's your age? - I'm 35 years old.
You spent a lot of money making it. How much money did you invest?
Sir, the actual cash would be somewhere around Rs. 50 lakhs.
- Was it your money? - Yes!
And we have raised some money from some investors too.
How much money did you raise?
Overall, we have raised around Rs. 53 lakhs
from a few investors.
First, we raised it in October-November 2020.
Back then we raised Rs. 19 lakhs on a valuation cap of Rs. 10 crores.
because I didn't have the background
and I had to learn many things.
Things related to battery, manufacturing
and vehicle design.
What lines look better than the others?
So let me tell you something,
it's our fourth iteration.
We have already designed three iterations before this.
Did you make five iterations in Rs. 1 crore?
We didn't build a car. They were just designs.
- It was just sketching the design. - Very good!
Very good!
- That's amazing. You reached here by spending a pittance. - Right!
- That's a pittance. - It's a remarkable feat.
I must laud your courage and determination
for reaching here.
How much amount do you need? You said that you're raising money.
That's the reason, you came here with a valuation of Rs. 100 crores.
I made my decision.
As it's a big business,
you must bring investors
who have knowledge in this area.
Unfortunately, I can't bring the required knowledge to your business.
So I'm out
but please continue your work and I wish you the best of luck.
Thank you so much!
- Look! I really enjoyed your journey. - Okay.
I can't fathom how you managed to reach here.
But I want to bet on you.
Ooh!
So I'll make an offer to you.
Wow!
I'm betting only on you.
- I'd never bet on this car. - Okay!
My offer would be based on your last round of valuation.
So I'll give you Rs. 60 lakhs
at the same valuation
and I'll give you Rs. 40 lakhs as a loan
at an interest rate that we'll determine later.
Our deal will be closed beforehand.
I just want to see the traction
- that you'd reach that number. - Right!
Thank you so much for making an offer.
Can I go and ponder your offer?
- Yes! - Sure!
Fine.
I think he's on a journey which can become big.
What he fails to understand
is that the product needs to be aspirational.
- I think you must help him make the next model. - I'll teach him.
- We'll teach him. - It must appear aspirational.
Kalpit, welcome back.
Yes, thank you!
Did you like Mr. Mittal's offer or not?
Oh!
Although I like Mr. Mittal,
if you could increase the amount of your offer,
it'd be a great help.
I request you
to make an offer according to Rs. 50 crores valuation
and please don't give a debt because I can't repay debt as of now.
- So please invest Rs. 1 crore. - For 2%!
And consider a valuation of Rs. 50 crores.
Your counteroffer is Rs. 1 crore
- Correct! - Kalpit, I already said before
that I'm not making an offer for your prototype.
Right!
I don't like this prototype.
I like you and I want to invest money in you.
The tenacity you showed in the last few years
makes me feel that you'd succeed in future.
I can do one thing.
You want me to remove the debt part.
I'll remove it and give you Rs. 1 crore in return for equity.
But I can't surpass the last valuation.
I don't think
that you have made enough progress since the last round
for me to give you even twice the valuation.
So you have Anupam's counteroffer.
[dramatic music]
Rs. 1 crore for 6.67% equity.
First of all, thank you so much, everybody.
And, sir, thank you so much for your offer
but I can't accept your offer.
[sweeping music]
As I feel that we have slogged
and if we don't get its value,
it won't be useful for us.
So I'm sorry
but I can't accept this offer.
- It's okay. - Kalpit, it's okay. It's nice
that you came here and listened to my offer.
- Thank you so much! - All the best!
- All the best, Kalpit! Thanks! - Thank you!
[sweeping music]
[music playing]
[thrilling music playing]
- Namaste Sharks. - Namaste.
Imagine the movie, Sholay.
Ooh.
- Without Basanti. - Oh.
Or Salim, without Anarkali.
Oh.
Or this tank
- without all of you. - Oh my God.
Just like
samosa without spicy chutney.
Or idli without coconut chutney.
- No. - That would be an injustice.
You are not enjoying it, right?
We are team Spice Story and we have brought for you
the taste of flavours from Indian streets in a sauce form.
we distribute these local flavours worldwide.
And to fulfil this mission
we need your support.
Our ask is
44, from Mumbai.
With me is chef Vibhor. He is 40 years old.
- Very good choice. - Very smart.
It's good.
And how did you decide to work together?
I'm a distribution guy by choice.
I have done distribution for 21 years in FMCG and financial services.
- I have worked in 5 countries. - Oh, nice.
In 19 cities in India.
The advertising agency that I used to work in
was also where Gayatri had worked at some time.
I convinced Gayatri to come and work with me.
You have worked on the side of brands.
Either we will fight or create something amazing.
[laughter]
I met Vibhor the same way. Initially, we made only 2 or 3 chutneys.
He tasted it and asked me if I was selling it.
I said yes.
He said it was horrible.
[laughter]
I asked him if he could make it.
He said yes, so I said, make it.
Our passion and you can see it when you see us,
is that we are alive for eating.
[laughter]
So this keeps us together.
This is our story, ma'am.
- Before we get into the business... - yeah.
Let's start the exciting part and eat.
The food.
[laughter]
Please come.
What would you like to taste?
I would like to taste everything.
- Your packaging is very attractive. - Thank you.
What is this?
This is an onion tomato thokku. It's a South Indian chutney.
- Let's go there and eat. - I'll serve you this Kolkata...
Yes, give me that to taste.
[lively music]
The dahi bhalla you are eating has Agra ki saunth.
And Dilli wali mint chutney.
The dahi bhalla is outstanding with the chutneys.
It's not tasting very different.
No, but the fact that it is not different
is a big deal if it's coming from a...
Bottle. I loved it.
- I just had this Indori lemon, it's mind-blowing. - It's amazing.
I agree.
I really liked it. I am going to steal one bottle today.
All the chutneys I had were super amazing.
- Overall, 10/10 in my book. - Well done.
Thank you so much.
- Who is the CEO? - I'm the CEO.
And equity distribution?
- We three have around 55% shares. - Oh.
Oh.
Okay.
They are not full time so they are not in the co-founding system.
They both have 21% more.
Which has endless consumption in our country.
Yes, absolutely.
The growth should have been much more.
I agree.
You should have been a 30 crore company if not more.
- Absolutely. - So what happened? Could you not change habits?
Or was there something lacking in your execution?
[dramatic music]
Anupam, we are going a bit slow because
when you establish a new category,
it requires a lot of cash burn.
But going slow is finishing your capital.
[dramatic music]
How much money did you invest in the business?
Around Rs. 65 lakhs.
- How much did you raise? - Yes, what's that amount?
4.7 crores in 2 rounds.
Valuation?
We first raised 1.7 crores in 2021.
- Almost 10 times sales. - Yes.
Very generous investor.
[dramatic music]
And you profitably grossed 4 crores last year?
- We are CM1 positive so... - CM1 positive?
- We... -One minute, let's explain to the viewers.
What does CM mean?
Contribution margin.
What does CM1 mean?
Where we have the channel margin,
shipping, logistics, COGS etc.
But why will you be doing that?
Why would you sell anything at a loss?
[dramatic music]
And also tell us, why you've been doing it for 3 years?
We feel we are still in the trial stage where
we are acquiring customers.
I don't understand it.
[dramatic music]
If it is some good food, people get addicted and keep buying.
There is word of mouth.
I'm doubting your execution capabilities.
[dramatic music]
You said your contribution margin,
the money saved after performance marketing is negative.
Yes.
But you also said
you had a net revenue of 57 lakhs last month.
I did not understand these numbers.
- Paras... - You didn't hear me.
Sorry.
That's it.
[dramatic music]
What is the total EBITDA loss per month?
You have to think?
I don't understand anything.
Soumyadeep, to be honest with you.
You seem a little aloof.
There is something wrong with the story.
I think the product must be expensive.
Why this sad story for Spice Story?
[dramatic music]
There is something.
There are two things.
The lockdown happened in 2020.
We went to Spencer's
and then retail went into a complete shutdown.
And we saw this twice in the last two years.
So our primary channel to reach the audience...
slowed down a lot.
Hmm.
We launched E-commerce around 18 months ago.
When we learnt that we will not benefit from modern trade.
- Absolutely. - So we had no choice
because we had to keep going.
So we focused only on Amazon.
Then we launched on Flipkart.
In that manner, we grew our business.
- Now I agree with the story. - Yeah?
We understood the truth.
We tried asking him 4-5 times
but you explained truthfully why the problem happened.
He is a salesperson
so he is trying to say what he thinks we want to hear.
[laughter]
- She is telling us the truth. - Correct.
I've made my decision.
[dramatic music]
My expectation has been quite mismatched.
I thought you all would be exploding in the market.
Execution is a big issue in your team.
This is where I drop off for now.
You guys have the right product.
A lot can happen if your product is good.
Improve these remaining things.
Someday we shall meet again.
Absolutely, sir.
I made my decision too.
I did not understand
that in a company where the biggest hero is the product,
your chef who is your key partner,
why is his equity so low?
[dramatic music]
My second problem is that your cap table
at a scale of 4 crores a year in sales,
with an average revenue run rate, you only have a 54% share.
I wish you the best, I hope you prove me wrong.
Our loss.
I would like to echo that the product is phenomenal.
- Yes. - The price point, branding
and POSM is very good.
I think any product where your contribution margin is negative,
I mean, the more you sell the more the loss,
is very dangerous.
So I think your channel, general trade modern trade
- is more profitable. - General trade.
And I think if you take that to 70-80%,
- it can be more scalable. - Yes.
As of now, it won't work for me as a deal.
But best of luck.
Now focus on the remaining two sharks.
What do you think your revenue will be in the next 2 years?
We can do business worth 60 crores annually.
You have not managed till now so how can you be sure?
[suspenseful music]
We didn't have partnerships earlier but we have built them now.
We did a pilot and saw it was
difficult selling a bottle for Rs. 150.
We brought trial pack pouches for Rs. 30.
Those products will move in the general trade market.
And we are seeing the traction.
I understood.
So this round that you raised,
how much did you raise in the last round?
- 23 crores. - 23 crores pre-money.
- Your valuation is very high. - Correct.
I'm interested.
I'm interested too but my problem is valuation.
[dramatic music]
- Can we take Peyush's offer? - Please go ahead.
How much balance do you have in the bank?
Runway of around 2 months.
Whoa.
Just two months?
You had the investor round in February, right?
Sorry, we have money in the bank till December.
No, then what happened to the funds?
- If you got 2.5 crores in February. - Cash flow issue in the business.
You used it all in manufacturing and inventory.
Your receivables must be 30-40 lakhs.
Yes, we have receivables too.
Do you have receivables of 6 months?
We have approximately 65 days of receivables.
Oh, God.
- One crore is stuck in the working capital. - One crore.
One crore working capital and one crore loss.
Look, I was very interested
but now I'm not able to add it up.
You only have the runway till December.
You won't be able to raise funds in this market.
More than 8-9 crores.
Unfortunately, I'll step out.
I was about to make an offer but good I asked this question.
The only reason I'm still interested
is that I am feeling
- that your product is fantastic. - It is.
So I'm betting on the product.
You'll have to work on finance, inventory management,
- distribution... - There is a lot of work.
You all are weak in these areas.
Give us two minutes, we'll just speak to our banker.
You please check.
Let them do a full 30 crore, round, right?
[suspenseful music]
Wow, you all made a complete gang-style entry.
[dramatic music]
Namita, I spoke to somebody who is in our cap table.
Yes, down round has challenges.
But as a founder, I'll take it up with my investors.
Because I know with the support
we get with you coming on board
we can succeed.
- Can I give you a counteroffer? - No.
Not at all?
- That's the only offer you have. - That's the only offer.
Thank you so much, Namita.
Lovely product.
Excited to work together.
All the best.
Thank you very much, Sharks.
Well done.
She's an entrepreneur. She's hard-working.
And very number-focused.
Please put your hands together for Namita Thapar.
My day starts at 6:30 am.
I love old Hindi songs, especially those of Mr. Amitabh Bachchan.
[music playing]
For me, the pursuit of excellence,
giving my 200% is very important.
I juggle a lot of roles my entire day.
So planning is a very important element of my life.
Let's get going.
I have 12-13 meetings
which quickly happen in a day.
- Good. Doc, you approved all this? - Yes.
I just love your packaging.
This is nice, Tanya.
To be successful in business,
customer obsession is very important.
[exhilarating music]
So on different metrics,
we take feedback from doctors.
- Dydrofem is doing well. - Yes.
How are the results? Good?
With this, you can keep improving,
growing and building your brand.
Right from getting it from the doctor's clinic
to our warehouse, the cold chain who's making.
Along with being a Shark, a leader should be a dolphin also.
Hi. Wow.
A dolphin means
empathetic. A shark has aggression and a dolphin has empathy.
I'm getting goosebumps.
For 8 years, I'm running a program called Prerna at Emcure.
Where we bring in speakers for women.
It is a special tailor-made training.
The reality is that working women
trying to manage both work and homes
don't take much care of themselves.
It's our responsibility
to use the power of our voices
for things we are passionate about.
[applause]
I feel that my biggest report card is my kids.
I spend my entire day running around in office
but when I come home and spend time with my kids
is the happiest time of my day.
All my stress disappears in an instant.
[ethereal music]
[inspirational music]
My friend, please give me a tip where my profit is fixed.
Only risk-takers can make a profit!
- Let me recite. - Go on!
I'm the stock market's king.
Hi, Vineeta Singh!
[laughing]
Namita is a pharma queen.
- Let me turn your portfolio green! - Bravo!
[laughing]
Don't take the trouble.
Within 25 days your money will double.
I'll have plenty of money.
Gosh! All the tips are dead because my stocks are red!
[laughing]
Greetings, Sharks! My name is Dharmil.
- We are from Ahmedabad. - Yes, sir!
Sharks, the scene we just enacted
isn't an imaginary scene.
In fact, it's the norm for every stock trader.
Sharks, the stock market makes our concepts complex.
If you invest in the market
without learning the tricks, you could incur a loss.
So we thought of simplifying this complex problem.
Then what is better than a fun game?
We present to you BULLSPREE!
BULLSPREE is a gaming application
Sharks, the best thing about it
we welcomed two lakh new users on board.
the tiny village of Jhumri Telaiya to the big cities of India.
Will you give us Rs. 75 lakhs
for 1.5% equity of our company
to help us achieve our dream?
into fun.
So, Dharmil, Harsh and Divyansh,
your presentation was overpowering.
Ha! [laughing]
Actually, the mascot is signalling that he can do it.
We can do it!
Please tell us your story.
I completed my industrial engineering in 2016.
Then I joined an e-commerce company.
Within 1.5 years, I was promoted to the CEO's office.
My projects had calibrated nicely.
In fact, I was happy to start the first round
as the CEO invested a small amount.
- Wow! - Awesome!
Harsh and I met for the first time as flatmates in Mumbai in 2016.
My meeting with Divyansh is unique.
We met during a train journey.
Jhumri Telaiya is a small town in Jharkhand.
Wow!
I completed my engineering from IIT Delhi.
Then I worked in two startups.
- I used to lead a team of 20-25 people. - Excellent!
That is my experience.
Do you supervise the development part?
That's true. I do it.
What is the tech stack?
We made an app on Flutter as the front end.
And we have used Node. js for the back end.
But Flutter can't scale up
if the app gets more complex.
We observed that people prefer Flutter in the new applications.
So we made such a decision.
Sharks, I'm a chartered accountant.
I used to audit private equity and hedge funds from 2015 to 2018.
Back then Dharmil and I used to discuss
if we could do something
that combined the stock market and gaming.
So you're Dream11 for financial stocks. Right?
It's fantasy trading.
Not really, Sharks.
Basically, Sharks, we're an experiential learning platform.
It helps one become well-versed and build confidence.
Is your game only about equity or it has futures and options trading too?
I can explain the gaming journey.
Please give us a product demo.
- Sure! - Alright!
with different entry fees.
Sharks, it's simple.
We want to give you the adrenaline rush of the real stock market.
- Good idea! Are other people also doing it? - Yes!
[tense music]
Dharmil, there are many such companies like StockGro.
There are innumerable companies like yours.
Right, sir!
But the difference is that the positioning of StockGro
is more of social investing.
The adrenalin rush is missing because only virtual money is used.
But we are positioning it well.
That's because you are charging money for an entry.
- Yes! - Yes!
How much money did they raise?
They raised around 32 million dollars recently.
How will you compete with them?
Our monthly revenue in February 2022 was only Rs. 1 lakh.
But let me share the last month's revenue.
Please tell us quickly.
we're growing at a 100% rate.
What trick did you use?
We had tie-ups with a number of colleges
through events and campus ambassador programmes.
We made collaborations with the influencers of financial markets
and gaming.
What is your marketing cost?
78% of people are using our app as per D60 retention.
- D60 retention is 78%? - D60!
D60 is calculated on the 60th day.
- This is what you mean? - The sixtieth day.
- It isn't rolling retention, right? - On the 60th day. - Yes!
That's incredible. It isn't possible.
But people can use different apps to play as per your concept.
The major focus of our competitors is on games.
Our larger vision for a customer of Bullspree
is to make them knowledgeable
and graduate
within two years.
Let's be clear. I don't think you're building
Bullspree University or a Stock Market University.
If Dream11 decide to teach cricket to everyone,
it's the wrong direction.
Please tell me quickly.
How are you different from StockGro?
There's no difference.
Currently, StockGro provides chats
and makes you play virtual portfolios.
It can easily be copied. Both of you will copy each other.
[suspenseful music]
Ma'am, the market is big
and we can parallelly exist with StockGro.
What is StockGro's revenue per month?
We don't know.
Investors become confident when the founders
have the numbers at their fingertips.
My second point, if you want to scale up,
you must possess a unique differentiator.
I can't see that and for that reason, I'm out.
Firstly, I feel that your differentiation is your solid team.
You three are hungry entrepreneurs.
I find investing in winner-takes-all markets
like gaming a bit scary
because the first one or two big companies
eat the small companies like sharks
in CAC which is Customer Acquisition War.
That's why I wouldn't want to invest in it.
Generally, I assess three things.
Team, timing and TAM.
Your TAM is very good and the team is also nice.
But your timing is wrong.
Our application is the best even now.
The competition is good. And a funded player
- is better because they help in growing the market. - Right!
You three are talented and I'm confident about you.
I'll invest in you
and I'll offer you the same deal that you got the last time.
Rs. 26 lakhs for 1% equity which is equal to your old valuation.
Peyush, can you join him?
But I have a few questions.
How much money do you have right now?
Right now we have a runway of five months.
In the next 36 months, if I get 2 crore users,
I'll earn Rs. 1 crore revenue daily
which could give Rs. 200 crores yearly revenue.
My friend, I think
it's no use giving a debt.
Let's come back to your last valuation.
Both of us will divide it 50:50.
37.5 lakhs each!
Yes!
So Aman and Peyush's final offer
My dear, seeing the risk, you should not rethink. What are you up to?
A mere 2.5% is the dilution. Why are you hesitant?
[dramatic music]
Sharks, let's disrupt together! The deal is done!
Sure!
Woo-hoo!
Superb! Congratulations!
[triumphant music]
'Aman, in today's Shark Xperience segment, '
'Kunal from Mumbai has a question for you.'
'Your style is cool and inspired by films.'
'Are you inspired by a film in real life?'
Hi, Kunal! Nice question. Yes!