[theme music playing]
[theme music continues]
[theme music fades]
Today, everything is available in an instant and just a click.
You can get electronic appliances within a day.
Food gets delivered within 20 minutes.
Groceries are available within 10 minutes.
Moreover, you can get a life partner nowadays with just a swipe!
But when it comes to emergency response services, then...
'Please stay on the call.'
'Our representative will attend to you shortly.'
'The number you're calling is currently busy.'
'Please try again after some time.'
- True. - [disconnect tone plays]
Have any of you ever lost a loved one
or a family member
because of not receiving medical help on time?
I hope not, but I have.
[sentimental music playing]
Even today, 30% of people in the country lose their lives
because they don't get an ambulance on time.
Moreover, I say with a heavy heart,
that the present scenario of ambulance services in our country
is disorderly, unresponsive,
unavailable as well as unreliable.
And MeduLance is a small endeavour to solve these problems.
[phone rings]
Hello, this is MeduLance.
Ma'am, can you please tell me your pick-up location?
Ma'am, what is your drop location?
Ma'am, the ambulance will reach you in five minutes. Don't worry.
so that nobody loses their life
due to not getting an ambulance on time.
Greetings, Sharks. My name is Pranav Bajaj.
Sharks, today, we are looking at raising
- Yes! After hearing your valuation! - After hearing that valuation.
[laughs]
No, sir. We will cure you.
[chuckles]
Welcome to Shark Tank season 2.
- You are Pranav. - Yes.
- And you are Ravjot Arora, right? - Yes.
- Thank you. - This is a great service.
- What a noble cause you're pursuing at such a young age. - Thank you.
Tell me your story.
How did you meet and what were you doing before this?
Sir, we started in 2017.
Ravjot and I met through a common friend.
I started my career very early
at a start-up called Zomato back in 2012.
- [chuckles] Sorry. - So...
I found it funny the way you put it across.
- "A start-up called Zomato." - Back then it was a start-up.
So, I said that because when I joined,
I found the culture of a start-up when I joined in 2012, right?
I was bitten by the entrepreneurship bug ever since.
At that time, we saw
that platforms like Ola and Uber had also been launched.
They'd taken advantage of something as simple as geolocation
to provide people with faster cabs.
We thought we, too, could provide a better response time
to people in the ambulance industry.
And that is how our journey began.
Tell us your story too.
Sir, I did schooling from DPS, R. K. Puram.
Then I did my engineering...
Your daughter is my niece's classmate.
Oh, nice. Deal done.
[chuckles]
Then I did my engineering...
- From where? - In computer science from JB Knowledge Park, Faridabad.
It also gives you a feel-good factor
when you're able to help someone.
Being able to save someone's life feels good on the inside too.
You spoke of a personal loss which gave you this idea.
Would you like to share it?
Sir, actually, it was my grandfather.
He suffered a heart attack.
We tried to call an ambulance but we had no luck.
Then my dad went to the nearest hospital
and had the ambulance follow him back home.
And during this period, his condition deteriorated
to the point that he was on a ventilator
continuously for some days.
After which he passed away.
[sentimental music playing]
Losing a life is agonising, sir.
If it was a loved one you've lost,
you are left wondering
what you could have done to save their life.
[sentimental music playing]
[siren wails]
We didn't want others to go through what we went through.
That was the reason we started MeduLance.
[sad music playing]
[siren wails]
If we can save the lives of even one percent of people,
then nothing can compare to the happiness it brings
and that feel-good factor.
[music playing]
Let me share a personal story of a loved one.
My dad had cancer.
[sentimental music playing]
When my dad died of cancer, I was with him.
I needed an ambulance at the time.
It took me at least 45 minutes to get an ambulance to take him.
So, I closely relate to your idea because
I've witnessed the deaths
of my grandfather, grandmother as well as father.
That touch of human emotion
in a timely service is very evident in your case.
[sombre music playing]
Tell us about your products.
You said there are three streams.
VRS, Clinic and MeduAlert.
Ma'am, MeduERS is a stationed ambulance service.
Okay, MeduERS.
A stationed ambulance service
specifically for commercial and residential facilities.
We work with facility managers like JLL and Cushman & Wakefield,
where we park an ambulance for a specific audience already.
The idea behind it is
that an average response time of less than 5 minutes can be given
to a captive audience.
- As the ambulance is on location. - It's already stationed. Yes.
- Got it. - Yes.
- What is the second stream, Clinic? - It's like a medical room
with doctors and paramedics.
Basically, in a residential society or a corporate office,
a medical room is set up
that an employee or a resident can visit for a check-up
either for first-aid or just for basic life support.
- That is your job. - Yes.
As for the ambulance on location in MeduERS,
do you own it or is it on a lease?
Ma'am, the ambulance is on a lease
because we are mostly an asset-light organisation.
- Good. - So, we lease ambulances.
Tell me about the third stream.
The idea is
not just to provide workplace safety to corporate employees.
But when they are out of their office,
even then, employees have a dedicated number to call on
which is specific to every organisation.
They can call on it when they are home
or even if they are in another city.
The service is not only valid for them
but also for their family members.
We provide this service to over 60 corporate partners
isn't traffic a bigger problem than ambulance unavailability?
Sir, this is the biggest problem.
As I said, when we started,
we wanted to have more ambulances per pin code.
- Okay. - We started our services in the year 2017.
We received a call from a lady in Faridabad.
A place in Delhi, right.
She was unconscious at her house. Her daughter had called us.
That's when we realised
that if we dispatch an ambulance which is closest to your location,
we can solve the problem of response time.
- Anupam... - You're saying...
- If I want to go to Fortis in Gurgaon... - Okay.
Suppose Asian Hospital, which is in Faridabad, is closer to me.
If they send me Asian's ambulance
- and drop me to Fortis, it'd save time. - Yes, got it.
- Correct. This is how they operate. - True.
Similar to prepaid taxis.
You create availability in every area.
And you can send them to another neighbourhood.
- No big deal. You can do that. - Yes.
Because the ambulance is closer to you,
- you get it sooner. - Correct.
- Is that right? - Yes.
Okay.
Show us your user journey.
Sure, sir. We will explain it to you with the help of this dashboard.
When we get a call, we take down the patient's name,
number and the exact location as well.
When we click on the option "Ask for 3 words",
we receive a text message that contains a link.
The moment we click on the link...
Hang on a minute.
- You get a text after the incoming call. - Yes.
Do you have to give a missed call on this number?
- No. You call us and we're speaking to you. - Okay.
We will send you a text at that very moment
so that in the absence of an app,
we are able to track your precise location up to 5 metres.
The logic is if you download the app and you have no use for it,
say for a few months,
the tendency is to delete it.
- True. - So, when you call us...
We basically need your location through the app.
We can do this even if you don't have the app.
- So, you do away with it. It isn't necessary to have the app. - Yes.
- Great. - Select the source address.
So now, we have the pick-up address.
And after you submit it,
you will get a list of the available ambulances.
- Closest five available. - Closest five ambulances will be shown.
The distance and the type of ambulances.
where the consumer journey is displayed on the phone
but the driver's journey is shown on the app.
- Yes, sir. - Correct!
How much effort is needed to start it in a new city?
Sir, first we check the number of ambulances available there.
Then we grade according to the advanced life support,
basic life support,
and the frequency of patient transport.
- Tie-up with hospitals. - Yes!
I understood your business.
I understood it completely.
Can we try to understand the revenue model
- and profitability too? - Yes!
Please tell us the figures for all three years.
How much did you earn last month?
- or Rs. 45 crores... - ARR!
ARR, by the end of the year.
What will you be your revenue for the whole year?
It's gratifying to see such start-ups.
You are profitable and everything is running smoothly.
You are a rare start-up.
I messaged you but you didn't reply.
[comical music] [chuckling]
Aman, you shouldn't have asked this question.
I requested my sister to get your phone number from your wife.
Then I messaged you but you never replied.
Shall I give you an offer?
- No! Wait a minute. - Namita and I...
Let us understand the business first. Don't make an offer so soon.
[sweeping music]
- It's an easy business. - You may understand the business.
- How much time do you need to understand? - I have a good idea.
[sweeping music]
Let's give Rs. 100 crores valuation.
Rs. 1 crore for 1%...
You... Please hear me out.
- Sir! Sir! - Yes, sir?
- You said you'll make a revenue of Rs. 40 crores. - Yes, sir.
- And you'll earn a profit of 24%. - Right!
How much is 24% of Rs. 40 crores?
- It's approximately 10. Okay? - Approximately, 10.
It means you earn Rs. 5 crores each
after splitting between you two.
I don't understand why you need an investment
because you asked for just Rs. 2 crores.
[dramatic music]
We feel that we have been facing
some issues in our business so we need your skills
- and expertise. - Expertise!
[laughing]
You don't understand.
I think you need us and we have an offer for you.
I have a question before she makes an offer.
[dramatic music]
Yes, sir.
Let me give an offer first.
[tense music]
Let them... Hold on! Let them answer the question.
I have questions too.
Please don't jump the gun just to make an offer.
[dramatic music]
Let us talk to them. Please answer.
I completely agree with Anupam.
Please don't jump the gun. Come on!
Alright! You may talk.
Sir, it's not that we are raising funds now.
We got offers in the past
- but we didn't accept them. - Okay.
Recently, our competitor raised a 20 million dollar round.
The valuation they got was 100 million dollars.
for entire India in managing emergency responses
including first-tier, second-tier and third-tier cities too.
It's okay that you have expansion plans but the thing is,
a company raises a huge round in a particular industry
at a 100 million valuation
and your revenue is equal to theirs.
If you have a good team,
you should not have had a problem
raising funds from another VC
at a similar valuation. Why didn't you do it?
That's because they want us.
- You don't care to understand. - What's the problem?
- Try to understand a person. - What are you doing?
[suspenseful music]
Sir, we went through the angel rounds.
They valued something or the other
but we failed to understand the SHA agreement.
Absolutely right. I experienced something similar.
We could have asked them
to make the SHA agreement in front of us but then I got fed up.
At times, all the conditions aren't fulfilled.
The thing is, the entrepreneurs
don't understand the point of view of the investors.
We don't know how funding works.
When I started out, I simply messaged my investor
on LinkedIn that I need funding.
Then he explained the details.
I asked him to explain to me all the terms written in it.
Sometimes we don't understand. [laughing]
The investor and I are happy today.
Please make an offer quickly.
We may talk later.
People want to share their stories but don't want to understand things.
You may talk to them and get an offer.
Our offer is,
Rs. 1 crore for 1% equity
which gives you a valuation of Rs. 100 crores.
Actually, we understand businesses quickly
but others need time.
Let's talk maturely now.
Congratulations! You may talk about mature topics
but let me talk immaturely.
[sweeping music]
Your competitor raised funds of 20 million
at a 100 million valuation
so Rs. 1 crore or Rs. 2 crores won't benefit you.
[thrilling music]
And 1% is too less for me to gain anything in this business
as the risks are too high to take just 1%.
You won't agree to give me 5%
and I don't think we'll agree on a figure in-between these two.
I wish you the best and keep doing this business. It's a noble work.
I hope you do a massive round and kill the competition. Good luck!
Thank you so much.
- May ask some questions? - Yes, you may.
Gosh! The questions don't seem to end.
Namita, let me ask some questions as I didn't ask any.
[adventurous music]
You gave your offer and they may accept it
but he has the right to ask questions.
Alright.
How big a company do you want to make? Answer me.
Sir, as I said
that we have been targeting Rs. 100 crore revenue already.
The idea is that we want to reach
about Rs. 200 crores to Rs. 250 crores in the next three years
so that we can command a one billion dollar valuation in the next 5 years
and if we succeed,
we could go on to save 80 crore lives
from the current figure of 8 lakh lives.
Not only in India but maybe in some Southeast Asian
countries also for that matter.
To get a valuation of a billion dollars,
you need to achieve more than Rs. 250 crores
but your ambition is to make it a billion-dollar company.
Over! Time is up.
That's it. Come on!
Hold on!
Or else, our time would be up.
[sweeping music]
I need the equity of a partner
because we'd help you grow
and we'll use our ecosystem to boost you.
We can also assist you in raising the next round.
I need 10% equity
and I'll invest Rs. 5 crores. You asked for 2 but I want to invest 5.
Boss, we can also help them raise funds.
Let me modify my offer.
Rs. 5 crores for 5% equity.
[dramatic music]
I want to join Namita and Aman
- in their offer if they are okay. - Yes!
- I have doctors, hospitals and nurses. - Yes.
All three of us have investors.
He owns the technology.
We will give you enough time.
It's not that someone who gives Rs. 5 crores will give you more time
and we won't. We'll give you time even after giving you Rs. 1 crore.
Let me explain something.
I think you are doing something similar
to our services in CarDekho and InsuranceDekho
and you'd experience a synergy effect.
My investment of Rs. 5 crores has a much higher stake
- than a few lakhs invested by each one of them. - That's right.
[suspenseful music]
I'm taking the highest risk.
I'm trusting you the most
so you must trust me in return.
You have two offers now.
- It's exciting. - Why do you want to dilute 5% equity?
- You may go out, discuss and make a decision. - Alright.
[suspenseful music]
He's offering a good deal. It would be the biggest deal on Shark Tank.
- The five-crore one? - Yes. The valuation is the same.
Aman, Ravjot wants you.
He doesn't like me because I didn't answer his call.
Then apologise to him.
Talk to him lovingly so that he is mellowed.
[suspenseful music]
Welcome back!
My cheque is ready.
- You have started a clash here. - A clash!
Sir, we are experiencing something similar.
[laughing]
Sir, we have a counteroffer.
[thrilling music]
- Oh, no! - Go on.
Just to be clear,
are Aman, Namita and Peyush coming together?
- Yes! - Yes!
If the three of you are coming, can we remove the debt component?
That's right.
So we can maintain our earlier ask
of Rs. 2 crores.
Basically,
You have two offers.
First is Amit's of Rs. 5 crores for 5% equity in your company
which gives you a valuation of Rs. 100 crores.
The second offer is
given by Peyush, Namita and Aman.
Rs. 2 crores for 2% of your company
which gives you a valuation of Rs. 100 crores too.
Which offer would you like to accept? Please decide.
Please make a decision.
- You'll get three Sharks. - I think it's non-negotiable.
- Yes! - [mumbling]
Sir, we'll go with Peyush, Namita and Aman.
Thank you!
- Thank you, sir! - Thank you!
- Pleasure! - Congratulations, guys! Good luck!
Thank you, sir!
[theme music playing]
[theme music fades]
Everyone has an entrepreneurial journey.
Some identify market gaps
while some want to solve the world's problems.
And some only want to make money.
I, too, have an entrepreneurial journey.
I've been a home baker for as long as I know.
I was content with baking cakes for my friends and family.
But during covid,
I left an abusive relationship for my self-respect
and converted my passion into my profession.
[music playing]
I started Cakelicious along with my mother.
[music playing]
When we began making cakes, we realised
that no matter how delicious the cake, it is always delicate.
And if the cake gets smudged during delivery,
it can put the customer in a foul mood.
So, we invented cake tubs.
[uplifting music playing]
Which is cakes inside a box.
Our cakes come in three different sizes
and 30 different flavours.
Like Mango Mondays!
- Tiramisu Tuesdays! - Walnut Wednesdays!
[chuckles]
Sharks, we started from the kitchen in our home.
and by way of cake tubs,
make cakes a part of your everyday craving.
- And we are Cakelicious. - We are Cakelicious.
- Wow! - Lovely.
[chuckles]
- Fatema and Duriya, welcome to Shark Tank season 2. - Thank you.
Yes. Sharks, I studied Bachelor of Computer Applications.
Wow!
And I have worked at Wipro for six months.
Just then, my engagement got fixed and I left the job and got married.
I had to leave because the relationship
had gotten really physically abusive.
It was during covid.
My neighbourhood in Hubli was declared a red zone.
I sought help from my parents and the police authorities.
Rescue flights were operational at the time.
I took a rescue flight and got to Kolkata.
I was four months pregnant at the time.
Oh my God!
I was physically and mentally very disturbed.
Baking cakes has always brought me immense joy.
Baking was therapy for me.
I put up a few posts on Instagram about my work
and received a good response.
Then we thought of going ahead.
I wanted to do something to make my daughter proud.
So, I started Cakelicious.
[pleasant music playing]
How did you manage to stay positive during the entire episode?
Usually, people don't get over their past.
The credit goes to my mom and dad.
Usually, families get really ashamed
but my parents were very proud of me for what I did.
Cakelicious is where it is today thanks to their support.
You're the smart daughter of a smart mother.
You ventured into a business at this age.
So, big credit to you.
What is your mom's day-to-day role?
Mom is the head chef.
She oversees baking in two cloud kitchens.
You make a sweet pair.
Fatema and Duriya, I have a question.
Are these cakes real?
They are all real.
We wish to taste them.
Sure.
- Sure, Sharks. - [Sharks laugh]
[uplifting music playing]
What is this?
Sharks, this is our packaging?
- Is there cake inside? - No.
- Alright. - [both laugh]
You hog!
- This must contain milk. - No, Sharks.
It's gluten-free tiramisu.
- Oh, Lord! - Wow!
Thank you!
Generally, we aren't served desserts unless the product is milk.
Who decides the recipes? You or Ms. Duriya?
The base is made using a 90-year-old recipe.
My mom learnt it from her mom.
[exhilarating music]
A small cake is called a pastry.
Sharks, the problem with pastries is that
they get smeared on the box during delivery
and they get spoilt before we can eat them.
Moreover, we use cake tubs because they are sturdy
and they don't need finishing.
To make a cake and design it,
we need one hour.
And the cake tubs reduce the time as it's done within five minutes.
Yes, Sharks. We introduced them in 2020.
We posted the pictures on Instagram
so their replication is natural
because it can be made easily.
I understood. What do you want from Sharks?
Sharks, when we think of desserts after dinner,
we search for ice-creams and waffles
but cakes are meant for celebrations even though they are delicious.
A great point.
Sharks, the way Monginis stores are open in every bylane,
we want to open stores of Cakelicious in every bylane too.
Wonderful.
Please share your sales figures.
And what are your expenses? Please explain it.
Sharks, our bestsellers for the last two months
I liked your cake in the same manner.
Please don't be a part of the rat race to get an investment.
My suggestion to you is to run your business in a relaxed manner.
Don't seek investment in your business.
Even if someone offers, just refuse.
Okay?
Thank you! I'm out.
Thank you, Shark!
you are making a profit of Rs. 80,000 out of Rs. 2.5 lakhs.
Gradually, when you do sales of Rs. 10 lakhs,
you'd earn Rs. 4 lakhs per month.
It's a significant earning and after that,
you may consider an investment. Your product is good.
In fact, I'll be scolded by Namita as I ate it all.
- I was following a diet. - Yes!
You may make a name for yourself
with your product which is cake.
You'll get word-of-mouth promotion. And you're running a restaurant too.
When one restaurant makes a profit, you may open a second restaurant
but I don't think you should seek an investment right now.
So I'm out.
Thank you.
I have a few questions. You said your revenue is Rs. 2.5 lakhs.
Can you give the details like your revenue
from online deliveries and shops?
Sharks, our business through Instagram
is quite famous.
Sharks, 80% of our customers order again.
who try thirty flavours for thirty days.
I want to make an offer.
Wow, offer!
I liked you as a couple and I liked your product too.
We can help you set up the distribution of your products.
It's an early stage and we need to toil a lot.
My offer is Rs. 15 lakhs for 15% equity
which values your company at Rs. 1 crore.
I think you have introduced an interesting concept
of serving cake in a tub.
You must keep doing inventions to stay ahead of the competition.
I think you can create a lot of different products over time.
That's my advice to you.
I don't think I can help you in any other way.
[dramatic music]
So I'm out today but you have a nice offer.
Firstly, Ms. Fatema, you are a role model.
And I'm also extremely inspired by you
and add value which I lack.
But thank you for inspiring me today.
I wish you the best but unfortunately, I have to be out.
Thank you so much!
So you have one offer
and I don't think you can get a better offer than this.
Sharks, can I take advice from my dad
- who helps me in my business regarding finance? - Sure!
Sure.
[dramatic music]
I'm happy, you are helping her.
- We'll try to make it a big brand. - That's really good.
The thing is, there's no space in D2C. How much do the cakes cost?
We need to spot the clutter and break it.
[sweeping music]
Sharks, we have a counteroffer with your permission.
Wow! It's nice to hear that. Great!
Please go on.
I intend to help you honestly
through digital distribution.
I know that your product is good and we must make it a big company
at a higher scale. So please don't overthink.
- You may take debt. - Please ignore him.
[thrilling music]
- Speak up! - Okay.
- Deal? - Sir, done deal!
Thank you!
- Thank you so much. - Thank you.
Thank you.
Goodbye.
- [ecstatic cry] - Wow!
[euphoric music playing]
Shameless man! Don't eat more cake!
[chuckles]
It is my duty to take you away from here!
Education? What's this?
Is that me in the centre?
Wow! They got the fringe right.
That's Anupam, he's curious.
That's Aman. Is that you?
- I don't understand. - Wow.
Great! We're playing cricket. Bowled.
[theme music playing]
Oh, wow!
[theme music fades]
Akshay, do you know?
Wasim Akram's highest score in a test match
- is greater than Sachin's. - Hey!
And Sachin Tendulkar
took more five-wicket hauls than Shane Warne in ODIs.
No way.
I know you're a big cricket fan!
Why don't you do something about your knowledge and passion?
Why are you annoying me?
What do I do?
There is no platform
where I can achieve something on the basis of my passion.
But now, the wait is over. We present to you Bowled.io.
- I'll just take the gear off. - Okay.
[theme music playing]
Sharks, Bowled. io is the world's first
sports-based social gaming platform
Real money.
On the other hand, Bowled. io provides a platform
to teams and clubs to engage with their fans all year long.
Sharks, not everyone can become a cricketer.
But there sure is a cricketer in every fan.
And they can live their dream on our app in a digital world.
We went live with the Bowled. io app three weeks ago.
Today, we have a user base in 125 countries
that engages and inspires them
and gives them a chance to celebrate their fandom.
Sharks, our ask is
Akshay and Rahul, welcome to Shark Tank.
First, tell me how you know each other.
We've known each other for 20 years now.
Our journey began as undergrads at IIT Madras.
- We were wingmates there. - Oh!
Where did you work?
I worked with Halliburton for five years as a field engineer.
I worked in oil field services in Africa and Europe.
- Then I joined ONE Championship, ONE Esports in 2019. - Hmm.
Where I oversaw D2C revenue monetisation.
including in Samsung Research.
After that, I joined one of India's biggest sports broadcasters
- as a marketing manager. - Star.
- Star Sports. - Yes.
Fortunately, I got a chance
to work on Pro Kabaddi when it was in its very early days.
I learned things in-depth.
Okay. Akshay and Rahul, tell us what this exactly does.
The Bowled.io app has three parts.
This is a cricket player.
These are mini-games.
- We've broken cricket down into different skills. - Nice.
You enhance your skills as and when you try them.
You can make in-game currency with it
and use it to skill up your player.
Then he becomes a semi-pro player
and a lot of options become open to him at this point
to play other games. Player versus player for instance.
What just happened?
He is our highest-level player.
- Legendary player. - Oh, legendary!
These stadiums are the highest-priced
and they are our rarest assets.
First of all, this is NFT.
Or if you bring sponsors...
- For instance, say you want to earn passive income. - Yes.
- So, you can earn rental income too. - Got it.
What is Marketplace?
The Bowled.io app features Marketplace.
You can buy, sell and trade
- Shall we? - Yes.
- Okay, I'll try this out. - Come on.
Let's do two on two.
- Just two. - Go on.
Mr. Curious 1 and 2!
- This is... - [laughs]
You can choose your own character.
I'll buy eyewear NFT.
- How do I operate it? - You are batting.
- How do I swing the bat? - With this button here.
Look at the bar and hit when it's green for a fast ball.
Ball setting.
[claps]
What happened?
- Peyush hit six runs. - Six.
I'll bowl you out.
- Whoa! - Yay!
- Yes. - Yes!
Round over.
[upbeat music playing]
First, let's understand what's different about your gameplay.
Graphically, it was very impressive.
And conceptually also, it was very impressive.
You spoke of NFT, gaming, blockchains, marketplace.
All buzz words.
But when we played the game...
- Disappointed. Not at all fun. - I felt the same...
There was no fun. It was normal.
It wasn't anything extraordinary. We've played this before.
No. I disagree with you, Anupam.
Graphically, it was very poor.
- The games we see kids playing nowadays... - Yes.
They're at a whole new level.
This is nothing in comparison.
Is this your main focus? What is the reason behind this?
- This is under development now. - Okay.
This is proof of concept in a way.
We wanted to build a game and release it
- so that the user feedback loop could begin for us. - Got it.
We are basically a gaming platform.
Our USP,
I'm assuming you're pre-revenue.
We're actually post-revenue.
Post-revenue. How much money have you made?
What is your revenue model?
We have three revenue streams.
At the beginning of our journey, it'll be the first model
where we've dropped assets
- and from where we generated our revenue. - How much?
through which we made Rs. 1.2 crores.
You earned Rs. 1.2 crores in four months.
- That was in a week. - A week.
In one week!
When will the next drop be?
We wish to do it during the World Cup.
Okay.
So, you dropped assets in May.
- That means you already had a user base. - Yes.
In April-May, what was your MAO, monthly active users?
- And your daily active users, DAO? - Yes.
Our daily active users were 1000 to 1500.
Tell us about the valuation then.
We raised an angel round first
Where do you plan on deploying this Rs. 10 crores?
The majority will go into the product.
We have literally just started making it right now.
Apart from that, we are partnering with studios.
We are trying to get a ready game
which has an existing user base
and are hoping to acquire it for our platform.
Yours is a solid pedigree.
You will do something amazing.
But I am out.
I feel your valuation of Rs. 80 crores is very high.
My suggestion is,
build games where the network effect takes place quickly
and they become viral.
'Network effect.'
'It is a phenomenon where the more the number of people '
'that get associated with the product or service,'
'the more valuable that product or service becomes.'
'Like WhatsApp for instance.'
'If you're the only one using it, it has no value.'
'But you prefer to use it because your friends use it too.'
'This is called network effect.'
I agree with Aman that the valuation is too high.
My biggest problem is your graphics lack finesse.
Work on that.
But for now, I am out.
Thank you.
As far as I know,
making a popular game is a difficult task.
There are many experts out there. You should collaborate with them.
Your expertise is strategising.
Your profile is not one of an enthusiastic gamer.
The level of enthusiasm that is required
to create that level of gaming is a very different thing.
I don't see the passion.
So, I am out for that reason.
The challenge is
that your complete focus lies on building the business
whereas it should be on creating games.
Okay? Get the best talent
who can think illogically and non-linearly.
This seems like a very high-risk investment.
So, I am out.
As far as I understand,
when you started, the game market was hot.
For these reasons, I am out.
If it works out, I'll be happy to be proven wrong.
Good luck.
Best of luck, guys.
- Thank you. - Bye, guys.
Thank you.
[bubbles rising]
[theme music playing]
[theme music continues]
[theme music fades]
[uplifting music playing]
- the most important thing one needs is variety. - Hmm.
And today we have more than 2,000 unique toys.
Sharks, our vision
is that every child buys their first and last toy from Toyshine.
Our ask is
You asked for a valuation of more than Rs. 250 crores.
What value can we add to it?
My friend, please share your sales figures.
Sir, last year we made sales of Rs. 45 crores.
[laughing]
That was a good one.
- Rohit, welcome to Shark Tank. - Thank you, ma'am!
Please tell us why you thought of this idea.
Do you have a past history in toys?
My dad ran a toy store till 2018.
I have been watching and selling toys since childhood.
[ethereal music]
So I converted my traditional family business
into a digital e-commerce company with Toyshine.
Some regulations made it difficult to import products from China.
- Absolutely! - And 80% to 90% of toys were imported from China
- to our country. - That's right.
Did your sales improve because of sanctions imposed on China-imports?
When we imported from China, our working capital used to be blocked
- because we had to import products for 3 to 4 months. - That's right.
Now we can manage even if the supply is less.
How many products do you order from within India?
what were your sales in the first year?
- Rs. 25 crores. - Rs. 25 crores!
- And it doubled in the next year. - Yes. Sir,
it took 1.5 years to 2 years for the selection to deplete.
And Covid's impact
boosted the sale of toys.
What's your current run rate?
Because the year before last year, you made sales of Rs. 40 crores.
Last year, you made sales of Rs. 45 crores.
This year, you'll make sales of Rs. 45 crores to Rs. 48 crores.
So your business is flat.
This year, we hope to close between Rs. 52 crores to Rs. 54 crores.
- Maybe! The current run rate... - But, sir...
It's around Rs. 48 crores to Rs. 50 crores.
What's your profit in Rs. 45 crores?
Sir, our net profit is around 15%.
It's one of our bestsellers.
Come on!
There are two balls.
Let's see which one goes first.
[babbling]
What's up with him?
Do we need to hit it using this?
Yes. If you want to play
- table tennis alone or with a friend. - It's wonderful.
- Is it made in India? - No, sir. It's assembled.
So it's imported from China?
[chuckling]
Rohit, what have you done to them?
You turned them into baby sharks.
[laughing]
You said that you make 2,000 unique toys
and make a new toy every week.
What is the process of designing to do so many innovations? That's one.
Second, when you have 2,000 SKUs,
how do you manage the supply chain?
It's not easy to manage such a vast variety of toys.
to stand out and differentiate?
Ma'am, we don't just have a marketing strategy,
we have focused on the root that is our product.
Selection is our core strength.
We select a product
that's nice and isn't available in the market.
These are common products
and they are available in the market.
Ma'am, they are common but you can't get them from a single vendor.
There's a global brand called Smiggle. Right?
- Yes. - It's a famous brand.
I saw their products
and they are better quality-wise. So what could they be doing?
Sir, the price point we are targeting
doesn't allow us to pitch premium products.
So one product costs Rs. 500
- approximately. - Yes!
Your business is a success.
So why didn't we come across your brand?
Why don't people know about Toyshine?
We haven't done branding and marketing.
He didn't do marketing but I think
he has focused on important issues the consumers face.
Consumer experiences like the product, price
and post-purchase too.
It means there is potential in your business.
I like you
and you have made a successful business.
Very few entrepreneurs in India grow their businesses to this level.
I liked that part
but I don't think you stand out as a brand. At least I feel that way.
Lastly, I find your valuation significantly more
and even if I get 0.5%,
I'm not sure when I'll get returns.
So I'm not comfortable as an investor.
For these reasons, I'm out today.
I liked your mission.
Make in India is our mission too.
Please continue doing that. And secondly,
you are running a commoditised business currently
so focus on brand building.
Do something that makes people buy your brand Toyshine.
So I'm out for now.
[epic music]
Firstly, congratulations!
Doing sales of Rs. 45 crores isn't a joke.
But personally, I don't find
uniqueness in the designs.
[dramatic music]
It's a cluttered market
so it's quite difficult to aim for growth in sales.
I agree with Aman that you didn't spend enough on marketing.
Maybe that's something you should focus on.
- I wish you the best but I'm out. - Thank you!
I think the challenge is
that with the increase in the local quality
and the increase in the number of distributors,
the gatekeepers like Hamleys, Amazon
and FirstCry will squeeze on your profit. Right?
And your margins will keep decreasing.
So unless and until you create an intellectual property like
a pull product that establishes your identity,
you'd struggle to generate margins.
So that's the problem for me
and for this reason, I'm out.
[dramatic music]
You are right
in focusing on inputs.
I have observed that Indian brands
earn a maximum of 40, 45, 50 and up to 100.
The brands stop at the threshold of Rs. 100 crores.
This situation isn't limited to you.
The journey that starts from here is a different journey altogether.
[tense music]
You will have to choose. You may continue this way
to grow your business to reach Rs. 200 crores.
If you want a particular valuation, what will it be for?
- Sir, the valuation... - You need to build a brand, right?
All of them gave you their feedback.
You must form a team to build a brand.
Your products lack differentiation as of now.
Okay? They lack finesse.
A brand needs detailing which is lacking.
You possess other inputs.
I think you need to work a lot on branding. I'm out for now
because I don't see an exit.
- Thanks, Rohit! - Thanks!
- Alright, thank you! - Thanks for coming to Shark Tank.
- All the best. - Bye!