[thrilling music playing]
[theme music playing]
Karibo Cosmetics is a customised lipstick brand
Nowadays, we might get a perfect life partner
but we don't get a perfect shade of makeup.
That's the reason we want to make Karibo
a brand which helps everyone customise all their beauty products
including lipsticks and blush and get the shade they want.
Our ask is Rs. 80 lakhs for 5% equity.
- Absolutely! - Yes!
Is it okay if I call my technician Nehal Jain here?
Yes, sure.
How did you get this idea?
We had to link an influencer with a cosmetic brand
and we conducted a brainstorming session.
The basic idea of the brainstorming session
was that we were giving them a unique identity.
While discussing, we had a thought
that we present everything as a unique identity
but we compel customers to pick shades from a rack.
So why not just let them create
their own product so they have the freedom to make their own product.
In which year did you launch?
We launched in October 2020.
Two Australian sisters started it.
It moved to the US as a franchise.
I think it wasn't a success in the US.
Then it was renamed BITE Beauty.
Later, BITE Beauty also shut down.
- Yes. BITE Beauty was also discontinued. - It shut down.
Why do you think it wasn't a success?
If a single product is store-based,
it is difficult to travel for just one experience.
So we decided to do this business
for different events.
We get around 300 footfalls automatically
and we get invited to more events through word-of-mouth.
The events could be small-scale or large-scale.
We mostly do it at private events.
What is the experience like?
- What do you exactly do? - You'll see the demo.
We would love it if you could come and customise your own lipstick.
- Vineeta, let's go. - Do you want to make one?
- You may make it. We'll observe. - Okay.
She has ample experience in lipsticks but I don't have much.
I'm fond of lipsticks, you see.
Let me enlighten you.
When I decided to start the makeup business,
I made lipsticks at home
after buying pigments for the first time.
- Wow! - I can relate to it.
These are the colours which are food pigments.
These are the bases.
They are of two types. One is for liquid lipsticks
and the other is for the bullet lipsticks.
The next ingredients are pure essential oils.
Again...
- It's for the fragrance. - Yes. It's for fragrance.
[ethereal music playing]
- This? - This one.
Thank you!
Ritesh, this is your lipstick.
Is it for me or my wife?
- It's for both. You may use the lip balm. - Is it a lip balm?
- Yes. - I'll try the lip balm.
- Yes, please, sir! - Your packaging is impressive.
- Peyush, this is your package. - Thank you.
- Thank you so much. - Thank you.
[ethereal music playing]
Which shades do you prefer?
Usually, what do you prefer?
Pinkish and nudes. Not bright lipsticks.
Okay. Perfect!
- Ma'am, in the meantime, you may choose the essential oil. - Yes.
I chose mine. Grapefruit.
Done.
- Would you like to add your essential oil yourself? - Okay.
I have a feeling that I'm in a science lab.
- So fun! - Chemistry!
Ma'am, it's your turn to blend your own lipstick.
- That's the fun of making it yourself. - Yes.
- So I have to mix it properly? - Yes.
- It's a pretty colour. Too pretty! - Yes.
It goes with your sari.
Yes.
- Have I blended it enough? - Yes.
Okay! DIY lipstick! There you go!
Thank you!
So you carry this cute setup to private parties.
I think it must be a craze at teenage girls' birthday parties.
Teenaged girls, moms, and during baby showers.
- It must be fun in baby showers. - It's a hit during weddings.
- There you go. - Apply it to your lips.
It feels nice.
It's like a food live station.
- Yes. - We see the food in action.
Vineeta, did I apply it right?
- It's nice. Actually, it suits you. - It looks nice, right?
- There you go! - Better than the previous one.
- It suits you. - It's quite creamy and nice.
- I feel rather productive. I made a lipstick. Thank you! - Yes.
- Your first lipstick. - I'm glad you liked it.
Now this lipstick will melt.
After it melts, we'll pour it into the mould, freeze it for a while,
and then it'll be ready to be handed over.
This one is ready. We can show this to you.
This is the mould to freeze.
- They prepared it in advance. - Yes.
[sombre music playing]
- There it is. - Nice!
- Super cute! - It's like magic.
Super cute!
This is how lipsticks are made. There's also a company called Sugar.
Have you ever tried Sugar lipsticks?
- We use Karibo. - Did you like them?
She's very clear. "I use my own brand."
[joyful music playing]
- It was a nice experience. Thank you! - Thank you.
Thank you so much.
Can you please tell me about the events you have done?
We display our stalls mostly during the wedding season.
It includes carnivals, 'sangeet' and 'haldi' ceremonies.
During the remaining eight months,
we display at engagement parties,
bachelorette parties, birthday parties,
get-togethers, and kitty parties.
So how many events have you done?
We have done more than 500 events.
- Over the last three years? - Yes.
Do you have a team? Or do you go yourself?
Yes, sir. We have a team.
We have a team of mixologists.
- Did you just call them mixologists? - Yes.
"I'm calling a mixologist to my party."
- Oh! It doesn't mean the other thing. - [giggling]
- It means lipstick makers. - Yes.
- It's the healthier mixology. - Yes.
We have 12 mixologists.
to 2-3 events a day, depending upon the size of the event.
What is the average size of these events?
customers won't return for the same product.
In the future, they tell us
the shade they want and we send it. They don't get the experience.
You use the events like activation.
- Once you get the clients, you get repeat business. - Correct!
What is the conversion rate? If 10 people tried it,
how many are converted into your customers?
Sir, we have three sources of sales.
First is events.
We generate 60% of our revenue from events.
In those events, 60% of the people become our customers.
Either they do more events or go for personalised lipsticks.
- All right. - Around 35% of the people
reorder individual lipsticks.
Do they keep on ordering?
Do they order for a lifetime or just once?
On average, we have already
supplied lipsticks three times in bulk to one customer.
Can you share the maths with us?
How many lipsticks did you sell individually?
I sold approximately,
around 1,500 lipsticks individually.
- All right. - Okay.
Jasmine, please tell us your overall revenue.
Last year's and this year's too.
We closed at around Rs. 80 lakhs last year.
We have already earned Rs. 64 lakhs
this year till September.
What is your projection for the whole year?
What about your profit and loss
during the last year and the current year?
Our gross profit last year was around 60%.
- around Rs.40 lakh profit. - Yes, ma'am.
You must have paid around Rs. 15-Rs. 20 lakh tax.
Actually, we started the company at just 21 years of age.
So we are still in the process of channelising the company.
You haven't started your work like a proper company yet.
You took payment in cash
and settled it in cash.
- You'll now start incorporating and documenting your company. - Yes.
What's your plan? Did you raise an investment?
- Are you raising money? - First, you must incorporate your company.
- Yes! - We are in the process.
If somebody audits your books now, they won't get much information.
Right? You might have paid some bills in cash.
- Have equal partnership? - They won't know what to audit.
- Fifty-fifty? - Yes, sir.
I feel you two are sweet and passionate.
Hire a business head.
I'm out today because
I don't see your business going in the right direction.
I think you are doing it out of passion, which is also not wrong.
I wish you to stay happy and enjoy your work.
- Thank you. - Thank you so much, sir.
What is your aim in the next 3-5 years? Tell me the numbers.
You'll be surprised.
You might do more than 100%.
You should expect double or 5x.
You shouldn't expect in percentage.
- Yes, ma'am. - Please have big aspirations.
You are doing something interesting.
I saw Radhika's reaction while making the lipstick.
I think your model is great
for building a high engagement and high trust at a low cost.
Because nowadays, the biggest problem of D2C brands
is the marketing cost.
- Correct. - You are marketing your product in a low, effective way
in which you aren't spending money but making it.
If you launch
a new range of colours of lipsticks,
you'll sell your product to your customers at zero marketing cost.
I genuinely think you must launch lipsticks under your brand.
You could do some differentiation as you are knowledgeable.
Parallelly, you should keep this service going.
You could become a successful
D2C brand with almost zero marketing costs.
a profit of Rs. 1 crore at just 24 years of age.
- Thank you so much. - Thank you so much.
Every industry has a concept of education.
For example, we have investor education in our industry.
And you do lipstick education in a sense. Your work is experiential.
Educating people is just a concept.
It must translate into a business.
So I think your business is still a concept.
You need a lot of time to become a full-fledged company
and you must figure out a way to make it one.
I don't think events can help you
become a scalable company.
Firstly, form a company as soon as possible.
Secondly, when you pitch
your business in the future,
try to be specific about the numbers you share with them.
You said you sell 1000-1500 lipsticks.
You should be precise.
You must organise events for the corporates.
As corporates, we always look for tools for engagement.
I think it'll help generate excitement.
I wish you the best of luck. I'm out for now.
- Thank you so much. - Thank you so much, ma'am.
Events isn't a small business.
I'm ready to help you.
We'll take the help of the financial head of our family office
to help you set up a company.
I can help you with the tax filing.
Focus on your business for 1 to 1.5 years.
I think you can build a big business
around weddings and events, and parallelly,
You need 1-1.5 years to fulfil your commitment.
For that reason, I'm out.
But my best wishes are with you.
- Thank you so much. - Thank you so much, sir.
The business of customised products
for any category like skincare or makeup
has been attempted by numerous companies globally.
However, it never scaled. It remains a gimmick.
Even though established brands
tried to use it as an activation channel,
The performance of homemade products,
in terms of longevity and colour consistency, isn't satisfactory.
That's the reason, these businesses didn't scale globally.
My suggestion is
not to make your business product-oriented
but a service-oriented business
acts as a differentiator.
Please continue your good work. I love the brand name as well.
As of now, your business isn't investible
because your numbers can't be audited.
Your ambition of 35% growth is too small.
You haven't thought over such things
and your business is in its early stages.
For that reason, I'm also out.
I'd be really happy to check your business again
after a few years when I can verify it.
- Thank you so much, ma'am. - Thank you so much, ma'am.
[joyful music playing]
[song playing]
[song continues playing]
[song playing]
- Greetings, Sharks. - Greetings.
I'm Ankush Barjata.
Wow!
I'm the founder of Deeva, the online sari store.
Sharks, there's a saying.
"The taste of water changes every 3 kilometres"
"and language changes every 24 kilometres."
"Sharks, I'll tell you the complete story today."
India is a diverse nation and every 24 kilometres,
the weave of the saris,
variety, the design,
and even the style of wearing a sari changes.
Saris were worn by women till now
but as per the new fashion trends,
even men are styling it uniquely.
For example, the way I'm wearing one.
- Are you wearing a sari? - Yes.
- Yes, I'm wearing a sari. - Is it a sari? Oh!
- Am I looking nice? - Superb!
- Nice. Yes. - I don't know.
- Thank you so much. - Superb.
- I never saw a man wearing a sari. - I didn't see anyone too.
- I have seen it in fashion shows. - Yes.
Our country has more than 100 varieties of saris.
However, there isn't a platform
where we can get all the varieties in one place.
We travelled across the country
and identified different manufacturers.
We brought them together on our platform Deeva.
Deeva is the first platform in India
which delivers saris to customers directly from the manufacturers.
traditional Banarasi
or the one-minute sari in the current age.
Sharks, my vision is to make the Indian culture global.
I want to make my brand the first international sari brand of India.
I want to make Deeva a platform
for a one-stop solution by including all the categories.
To realise this dream,
I am asking you all
I urge you to join us
and leave all their hard work to us.
Thank you.
- Awesome. Thank you. - Thank you, girls.
- [claps]
- Ankush, welcome to Shark Tank India. - Thank you.
Firstly, your fashion show was wonderful.
- You look lovely in that saree. - Thank you, ma'am.
Your display is terrific.
Tell the Sharks a little about yourself first.
You come from a village in Himachal.
What were you doing?
How did you come into the sari business?
My grandpa used to peddle clothes from village to village.
My father worked at a clothing store.
After working there for 27 years,
he opened his store in 2014.
Before he opened his shop,
I was studying in a government school.
After that, I studied Computer Science Engineering
from SRM University, Chennai.
I joined the theatre in college.
I had a dream to direct movies later in life,
but the lockdown was imposed.
I heard Dad saying he had suffered losses.
My father invested Rs. 30 lakhs in my education.
It wasn't like I was exceptionally talented
and an offer awaited me in Mumbai where I'd do something big.
So, I started applying for jobs.
My first ever offer was from BYJU'S and the second was from WhiteHat Jr.
My third offer came from Incredible India Projects Pvt. Ltd
which is a real estate company
that offered me a package of Rs. 26.28 lakhs.
- Wow. - Wow.
I directly joined them in Hyderabad in January.
One of my clients there was a saree manufacturer.
That's where the connection was built.
Cloth and sarees were a little relatable.
So, we got talking.
He told me that these sarees were manufactured for Rs. 300 to 400.
I asked him who wore such sarees.
He said, "Everyone will wear them when they sell for Rs. 2,000."
That stayed with me and we began working on it.
We studied and gathered information about every category.
There are different categories in every state.
We learned about handloom and power loom.
We realised no platform sourced from manufacturers
and sold directly to the consumers.
The cost of the same saree was Rs. 3,000 at one place
and Rs. 5,000 somewhere else.
And it was available for Rs. 800 at some places too.
Why was that?
While conducting research on these points,
I knew I wanted to do this.
Are you into handloom or power loom?
The majority of our customers buy sarees that cost Rs. 2,500.
Do these sarees also have polyester
- or are they pure silk? - Pure...
They are not fully pure silk.
- If we do that, definitely... - The cost will rise.
The average range will start from Rs. 7,000 to 8,000.
They're semi-pure and all of India wears semi-pure.
If someone wishes to buy a saree of equal quality
from any online or offline shop,
how cheaper are you in their comparison?
Sir, I can't talk about offline because we're fully online.
Pick any saree on any online platform,
I will sell it to you at a 50% lower price
than anyone in India.
are buying directly from the manufacturers.
They are open platforms
where anyone can log in and list their products.
That includes retailers, wholesalers and distributors.
Manufacturers don't have the time to list their products.
So, ma'am, a saree that is manufactured for Rs. 500
must be made available to the retailers for about Rs. 1,500.
I am selling it to customers at the same rate they are buying for.
Do you have an exclusive arrangement with the manufacturers?
Sir, we're trying to accomplish that.
I currently have five exclusive manufacturers
Name a few.
Apple Sarees is India's ninth-best manufacturer.
They can sell on Flipkart and Amazon as well.
They won't sell to anyone but me, sir.
We will sign an exclusive agreement.
How can you say that with such confidence?
You don't have agreements with them.
Relations are above money.
- Oh, my! - In the cloth business, you make relations.
I have a special relationship with them.
They invite me to their family weddings.
I am not getting that feeling when I look at your products.
Even semi-pure gives a vibe.
I own semi-pure Banarasi sarees also.
I don't get that feeling.
You're thinking from the perspective of a high-end customer.
- Okay. - Think from the perspective of a customer
who is buying a saree for Rs. 2,000 to 2,500
to wear to a party.
If you look at it from that perspective,
these sarees are selling in the market.
If you look up the same sarees on the internet,
you'll find the same sarees for Rs. 4,000 to 5,000
that I have put on display here.
How will the consumer know
- this is not a cheap saree and a good one? - Yes.
We have a no-questions-asked return policy for our sarees.
Top-end quality, middle quality and lower quality.
We always go for the top range because we know the quality is good.
We offer the customer a no-questions-asked return policy.
So, the customer does not hesitate to place their first order.
They can check out our quality.
The moment the saree gets delivered, our team calls them to ask
what they think of it.
We give the same feeling to customers online
that they get in a store.
If they do not like the saree
or have quality issues, they can return it.
By God's grace, our return rate is only 3%.
It is not too high.
What's your gross margin?
Our gross margin is 60% and the cost of purchase is 40%.
In October 2023, we clocked a sales of Rs. 58 lakhs.
Out of that, 10.8% went towards marketing costs.
On top of that, we have salaries.
Sir, Rs. 1.5 lakhs goes towards employees' salaries.
I take Rs. 1 lakh too.
So, that's a total of Rs. 2.5 lakhs in salaries.
Our packaging cost is 4.5 to 5%.
And our shipping cost is about 3 to 4%, sir.
These are the major expenses.
How much is your EBITDA?
It varies between 35 to 36%.
What about personnel expenses? Don't you have a team?
Only 15 people are employed with us. Their average salary is Rs. 10,000.
- Rs. 18 to 19 lakhs. - Not bad.
- So, no commissions. - No.
Ma'am, we have done Rs. 2.67 crores till October 2023.
Our target is to cross Rs. 7 crores this year.
I was in the learning phase at the time.
I had applied in Season 2 as well.
- Okay. - Where's your company based?
We are based in a village called Bangana in Himachal's Una district.
- Do you run the business from Bangana? - Yes.
- Wow! - Amazing.
- Lovely. - You will do sales of Rs. 7 crores.
- A profit of Rs. 2 crores. - Rs. 2 crores.
- Good job. - Wow, well done.
Lovely. You won my heart.
When you didn't make it in Season 2, were you disheartened?
How did you take the news?
Rejection is hard for any entrepreneur.
I am a big fan of Mahendra Singh Dhoni, sir.
- Then you... [laughs] - No, sir!
- You... - You have a way with words.
Smooth talker.
"Till the full stop doesn't come, the sentence is not complete."
- Yes. - I had pressure from family.
And society...
We live in a village and everyone knows everybody there.
"You spent so much money on your son and look what he is doing!"
It had become hard for me to stay at home.
- There were so many moments when I felt I should quit. - Quit.
Yes, but then there's also a moment where you ask yourself, "Why?"
I posted about Season 2 on my Instagram account.
Show us the post.
You're a great guy.
You have a good heart and you speak well.
- Your profile is verified. - Yes.
I can't read. I'll come there.
Yes, sir. Please do.
I posted that it was April 2022 when I filled out the registration form.
I posted about the whole journey.
'And recently came to know that we didn't make it to the TV round.'
'My dream to meet...' Uh...
- Peyush and Aman... - Peyush and Aman also...
You should both make an offer.
- Yes, make an offer. - Good one.
I wish to show you one more post, sir.
I was at a restaurant when Season 3 entries were announced.
I wrote this on a tissue paper there.
'5 June, 3 pm.'
'I will be on Shark Tank Season 3. Stop me.' And I'm here.
- Wow! Love it. - Nice.
Good job.
- Do you have a website we could see? - Sure.
That over there is the Deeva logo and this is our banner.
You can see the categories on top.
We've put up our top four categories here.
This is our Deeva Specials category.
The manufacturers who cannot do photoshoots of their products...
There are many manufacturers who cannot.
We bring their products
and shoot their brand for them.
In a way, these photos become exclusive for us.
Who maintains the website and who does the marketing?
We have outsourced the marketing to a company in Delhi.
They handle our social media as well as our marketing.
- You spend Rs. 70 lakhs a year on that. - Yes.
This must be a growing market.
In 2017, the market size was Rs. 38,000 crores.
From 2017 to 2023,
the market has grown to Rs. 80,000 crores.
The saree market is continuously growing.
Who is your competition in pure saree players?
- Taneira is one. - Taneira.
The second is Karagiri and the third is Zari Banaras.
They're not your competition.
You're an aggregator and they are brands.
You all have made brands.
You know there's a cost associated with building a brand.
It isn't so with business.
In business, buy for x amount, sell for x amount and make a profit.
- We have established a business. - [claps]
- What good answers. - In 2 to 3 months...
We've begun work on the branding for a few months
and we will build a brand too.
Somewhere...
You're a smooth talker which is a good trait,
and you talk sweetly also.
It seems genuine too.
Somewhere, there is a thin line
between confidence and overconfidence.
I get that feeling sometimes.
Are you overconfident?
No, sir. I am not overconfident.
Ankush, I don't understand, why can others not do this business?
This is a trading business.
- Nalli sells sarees online too. - Yes, ma'am.
They have a lot of variety.
- Nalli is the biggest name in sarees. - Yes, ma'am.
- They are a brand. - Yes, ma'am.
If you visit their website,
you will see pure silk sarees ranging from Rs. 2,000 to 20,000.
- They are aggregators too. - Yes, ma'am.
I don't quite get what your advantage is.
Ma'am, our core advantage is manufacturers.
We started with 60 manufacturers
and today, we have 550 manufacturers.
- 550! - Take Nalli or any other brand,
none of these businesses
tell the customer that this is coming from manufacturers
or who they are.
Nalli as a brand is trusted.
Nobody has heard of Deeva.
They will know now, ma'am.
- Oh, my! - Whoa.
Our focus is the mass customer
who buys sarees in the range of Rs. 2,500.
We haven't entered the premium bracket yet
nor do we plan on entering it for the next one year.
Is there something in your life or business
that you feel needs to be worked on?
I feel that the UI of our website is really simple.
We need to work on that in my opinion.
Secondly, I want to bring the start-up ecosystem to Himachal.
I helped two people set up their start-ups.
I gave them some funds and invested in them too.
Just as people move to Bengaluru to work with companies,
I envision making a company in Himachal
that will attract a workforce from Bengaluru.
How big do you think this business will grow in three years?
I can bring it to an annual sales of Rs. 50 crores.
I know how to grow
and how to achieve that with marketing.
If I have your support,
we could touch a sales of Rs. 500 crores too.
Wow!
You're an incredible founder
with an inspiring story and journey
and a die-hard spirit.
Your story has set an example for Indians for sure.
Thank you, ma'am.
Let's talk about the setbacks.
The first is that
you keep attributing brand-building to one factor alone
which is your connection with the manufacturers.
You talk only about the business.
Manufacturer exclusivity alone will not grow the business.
The differentiator that I could deduce was
that you call the customer, which is amazing,
but it's not a big enough differentiator.
So, as of now, I'm out but best of luck.
I think, firstly, you're a very good salesman.
You are good at strategic planning.
I was keen on making an offer
but somehow, your answers
were a little too good to be true.
You said you wanted to make Himachal a start-up hub
and you even invested.
First, you should build something big.
Go step by step, right?
Leave some tasks to us.
Somewhere, my gut does not permit me to invest.
So, I am out but you'll do very well.
I'd have been more focused had you come, but it's all right.
- I'll make you an offer. - Whoa!
I have no interest in your saree business.
I don't understand what you're doing in the trading business,
but I will feel bad if you leave empty-handed.
- You're a great guy. - [Radhika chuckles]
I can't give you Rs. 2 crores.
I will make you an offer just to be associated with you.
Rs. 20 lakhs in equity at 5%
and Rs. 1.8 crores in debt
at 10% interest for 2 years.
So, Rs. 10 lakhs each.
Or just invest Rs. 1.80 crores. You are rich.
No, I'm saying...
Let's step away and discuss this.
Rs. 50 lakhs in equity...
[tense music playing]
Here's the offer.
We will invest Rs. 50 lakhs.
In return, we will take 5% ownership.
We will give you Rs. 1.5 crores in debt.
Do you want to join in?
- Reduce debt... - She also wants to come.
Okay, we'll combine it.
Here's a revised deal
to build a big business out of a small town.
We will invest Rs. 75 lakhs
for 7.5% equity in your company.
Along with that,
you will get a debt line of Rs. 1.25 crores
which means the interest starts from the moment you draw down
at 10% interest for 3 years.
How about all three Sharks
invest Rs. 1.2 crores, Rs. 40 lakhs each,
at 6% equity, which is 2% each,
Could we reduce the debt a little, sir?
- Why? - A debt of Rs 30 to 40 lakhs won't make much difference.
Here's my final counter.
Would all three of you agree to the same amount at 6%?
That is Rs. 75 lakhs at 6% equity, 2% equity each.
How about that?
Let's sell sarees together.
Watch how our saree sales spike!
[camera shutter clicking]
I will be buying sarees only from you.
Thank you, ma'am.
Thank you, Sharks. Thank you so much.
[music concludes]
[theme music playing]
[theme music concludes]
And so, I designed my own life.
After studying till the tenth grade in a small village,
I got jobs as a factory worker and an office boy.
I had a fire in me for design.
So, when I was young,
I learned drawing and painting from the village painter.
I worked as an office boy
and simultaneously learned design and became a designer.
Sharks, while working in the design industry,
I realised that when we prepare an invite for an occasion,
they all look the same
whether it is a wedding invite or a birthday invitation.
When a designer sets out to create a fresh design,
it takes him months and an investment of lakhs.
To solve this problem
and make the lives of designers easier,
I present to you DesignTemplate.
DesignTemplate is an online design marketplace
where we provide premium motion graphics templates,
he could achieve the same result in an hour by using our templates.
Sharks, Dadasaheb Phalke was the pioneer of Indian cinema.
Similarly, I, Dadasaheb Bhagat, seek your help
to build a whole new world of design.
Sharks, my ask is
Rs. 1 crore for 2.5% equity.
Wow.
- Very well said. - Done?
- Yes. - The tension is over.
let me tell you, your story is inspiring.
I had heard
that life should be lived by design, not by default.
Live your life on your own terms.
You made design your life.
You were nervous, but that's normal.
You should be proud of yourself.
Because you come from a humble background,
and now, you are on the stage of Shark Tank.
I think you should be very proud of yourself.
- It's wonderful to have you here. - Thank you, ma'am.
Tell us about yourself.
How did you start in the design industry?
What does your work entail?
I am from Bid, Maharashtra.
Back then, there was a painter in our village.
He was near our school.
I used to learn how to draw from him.
And gradually,
I completed 10th grade.
My salary was Rs. 4,000.
I found out that Infosys
is offering a salary of Rs. 9,000 for the position of office boy.
So, I thought of doing something there.
I noticed that
people are earning good money while working on computers.
It is such a huge industry.
People are travelling in a car. So, I thought of doing something
- Very nice. - There was a college.
I requested the employees at Infosys to give me a night shift.
Simultaneously pursuing a part-time course in design.
That is how I entered the design industry.
When I went to Hyderabad, I noticed
a board there.
C programming was being taught for Rs. 1,099.
- Really? - Since the course was so cheap,
- I decided to learn. - Did you learn programming?
- Yes. - Wow!
Amazing! The youth should
constantly upgrade themselves and their skills.
It's beautiful.
Knowledge is everywhere.
Yes. Thank you!
Within just three years,
I became a VFX supervisor from a designer.
- Wow! - Transformers: Rescue Bots animation series was going on.
They had
given this assignment to some studios nationwide,
while I was leading it.
Half of the work was dedicated to repeatable tasks.
I created scripts and plug-ins
to simplify the rendering process, allowing one person
to complete the work of four people in just one hour.
That's where my fascination
with blending design and technology started.
In 2018, I realised
that India doesn't have design software.
India is mostly dependent on other countries
- for more than 80% of designs. - Correct.
India should have its own software,
so we started Doographics.
We launched it in 2020.
What does this software do?
This is for graphic designing.
This is the Doographics website.
Your company's name is Design Template,
and Doographics is your product's name.
No! Sorry. This just came up.
The issue with Doographics was,
I started it during COVID.
I had to shut down my office and return to my native place.
We didn't have a place to work.
We constructed a shed atop a mountain.
Similar to a cowshed. We worked there throughout the day.
- Is this the one? - Yes.
We didn't go home for around 6 months.
It's off-site...
Your workplace is unconventional. It's lovely.
Wow!
The problem that came up was
that our competitors have a huge sum of money.
We couldn't compete with them.
So, we pivoted.
We thought of launching a design template first
and generating good revenue.
That is how we launched this in the market.
We have 15,000 motion graphic templates.
There are categories such as
movie trailers, explanatory videos,
slide shows and more.
Our targetted audiences
are YouTubers, Content Creators,
Very nice.
You can alter this. You give raw files.
- Yes! - You can buy the template here.
You can edit the template in Adobe software.
The user can buy it from there as well.
How much is the price mentioned?
It is in dollars.
Since our services are primarily utilized internationally.
How much is it in dollars?
¤6 for only one user.
If you purchase a multi-license, numerous clients can use it.
- So, single use and multiple use. - Yes.
Only 10%
of our templates are on a different platform to sell.
- Do you have full-time team members? - Yes.
- How many people are there? - 15 people.
How much revenue have you generated this year?
How much was it last year?
Our last month's revenue was Rs. 16 lakhs.
Last year's revenue was Rs. 1.60 crores.
- Amazing! - It was Rs. 92 lakhs before that.
Prior to that, it was Rs. 32 lakhs.
- What is your revenue projection for this year? - How much?
Around Rs. 3-4 crores.
Until now, our...
How much profit are you making?
Our team's expense
is only Rs. 4 lakhs now.
Share the sales figures from the previous month.
Last month was Rs. 16 lakhs.
- How much did you allocate for salary expenses? - Rs. 4 lakhs.
Rs. 4 lakhs in salary. Which is 25%. What else?
You have Rs. 12 lakhs left.
We are currently
You have different marketplaces where your template is used.
So, you pay them a commission.
- Right! - How much is it?
50% is their commission.
Tell us the absolute amount.
- Rs. 8 lakhs from Rs.16 lakhs. - Rs.8 lakhs in commission.
Rs. 8 in commission and Rs. 4 lakhs on salary.
You spent Rs. 12 lakhs. So, you are left with Rs. 4 lakhs.
We spent Rs.2 Lakhs on developing technology.
And we gave Rs. 2 lakhs as incentives to our team.
We wanted to speed up
- the design process. - You spent on the team, right?
- Instead of Rs. 4 lakhs, it's now Rs. 6 lakhs. - Yes.
How are you managing your expenses?
I take a salary.
- Okay, your salary. - Yes.
How much salary do you take?
My salary is Rs. 60,000.
Why do you want Rs. 1 crore?
60% will be allocated for marketing.
You don't require marketing. Your content serves as marketing.
No! He has to do marketing for the marketplace.
He will promote
- his website. - 40% will be allocated to technology.
- 40% technology, 60% marketing. - Yes.
Why don't you want to grow this
in the marketplace till it reaches Rs. 100 crores?
To invest in traffic
and generate trust is expensive.
This is a digital product.
It depends on the level of your distribution.
You earn more if you sell to more people.
You will reach more people in the marketplace.
Vineeta is saying just that.
Instead of spending Rs.60 lakhs, you have a model.
- By selling on marketplaces, your core USP is design. - Correct.
- We saw that your designs are good. - Yes.
You can sell on that. And commission...
I am pretty sure it will be slabwise.
If you increase your sales, the commission won't be as high as 50%.
Why don't you make that business worth Rs. 40-50 crores?
- Correct. - So much money... If this website doesn't work
- your money will be spent. - Because that is your right to win.
- It's your designs. - For Rs. 60 lakhs
what marketing will you do?
- Mr. Bhagat, no one is asking you not to run your website. - Yes.
We're just wondering, why are you discontinuing what's working.
We are not doing that immediately.
There are restrictions there.
They have a limited customer base.
Sell it on Shutterstock and ImagesBazaar.
- There are many... - You are constraining your supply.
You are just giving them 10%? Why aren't you giving them 100%?
We can generate Rs. 1 crore in revenue
if we put our minds to it.
But then the quality of our product
will deteriorate.
It won't last in the long term.
- Therefore, we... - Because if you sell your designs there
no one will visit your site.
True! They will become our competitors.
Do you still believe that you prefer not to distribute on Envato?
In the future. When our website's revenue goes up,
only then will we stop our distribution.
Okay! What is your vision for the next three years?
How much will your business grow in 2027?
We want to generate a revenue of Rs. 100 crores.
Tell me something. The designs you make,
do you have a USP?
or I am a fool.
Sorry! That is not what I mean.
If someone has a studio...
Sorry, you...
He is not taking it personally.
That is your advantage because you are running a low-cost operation.
Yes! And my technological integration...
That is what I am talking about. You mentioned tech integration.
I will spend Rs. 50,000,
but you will spend Rs. 2,000, why is that?
like 3D softwares and Adobe, which speeds up the process.
I can also do that with AI.
If I ask AI to make the set of Shark Tank India,
it will make it for me.
- Yes, sir. - It will create an image.
But if you want to convert it to video...
Progressive generative AI is slowly making its way
into the world of motion graphics.
You haven't developed a technology
that could make your template creation
cheaper than others.
We have developed our technology for template creation
so that we can work faster.
In IP creation.
Who handles technology?
I cannot handle many things at once.
I know a few people who are experienced in the US
or renowned companies when it comes to CPUs.
I want to bring them on board
so that they can handle my technology.
How does your thought process work? How are you so smart?
Your strategy is impressive.
You started as an office boy. Look at your ideas now.
- He has a vision. - Having practical experience
and solving the problems I've faced...
You were nervous when you started the pitch.
You couldn't speak. And now, you have answers to all the questions.
He is giving great answers.
Mr. Dadasaheb, you have a good mindset for the long term.
But the challenge that we are facing investors
is that your skill set and right to win
is centred around design production.
Now, the skill set you need to win
to do this part or not.
So, as of now, I don't think I can invest.
I'm not very familiar with this area,
so it's hard for me to grasp the competitive landscape.
So, I am out today.
But, best of luck!
Thank you, Ms. Vineeta.
I believe you have big dreams.
And you should fulfil your dreams step by step.
I will give you an offer, okay?
But it's a conditional offer.
- I don't want you to invest Rs. 1 crore in marketing. - Yes.
I want you to invest this in your team and technology.
I want you to use AI
If it is sold on your website,
it's probably because of its design capabilities
- not because of marketing. - Marketing.
We can do social media marketing.
But not a lot of paid marketing.
I will give you Rs. 1 crore for 10% equity.
I will also take royalty from you.
2% of revenue
until Rs. 2 crores is recouped.
I think there is a difference
of 6-9 months in the current situation in the business.
That is because your B2B business...
As the other Sharks mentioned.
- You've seen OYO rooms on other platforms too. - Yes.
- But it doesn't mean you keep others deprived of it. - Correct.
It is not wrong.
Yours is a B2B business now.
That is why I am out.
- Thank you, sir. - Best wishes.
I haven't come across individuals with
such ambitious goals as yours in big cities.
- Thank you! - Incredible! I am getting emotional about this.
- You deserve a clap. - Thank you.
- I am getting emotional! It's amazing. - Thank you, ma'am.
Secondly, if this were a design business,
But I am an investor.
I have to look at the past track record.
And you want to get into distribution.
I don't have a history of distribution.
And this is where I am struggling.
So, for that reason, I am out.
- Thank you, Radhika ma'am. - And I wish you all the best.
Thank you, ma'am.
I will give you the same offer. Rs. 1 crore for 10%.
But I won't take royalty from you.
But that is not what I believe.
I believe
that if someone genuinely gives you Rs. 1 crore,
they deserve a royalty for repayment.
My offer stays the same. You choose.
Mr. Aman, I appreciate your offer.
I have a counteroffer.
You won't get a better offer than this.
It's good.
- Sorry! - Tell us. He has the right to counteroffer.
5% for...
- Your counteroffer is Rs. 1 crore for 5%. - Yes.
Mr. Dadasaheb!
I prefer not to do this
- because it's hard to foresee future outcomes. - Yes.
There are challenges.
Rs. 10 crores is not a bad valuation.
- I am not being unjust to you. - 100%
- It's a fantastic valuation. - Generous offer.
[suspenseful music playing]
Deal done!
I don't believe it! You are a magician!
- You are an expert in your field. - Oh my!
- Thank you, sir. - Congratulations.
- Well done and well deserved. - So proud of you.
- Thank you, everyone. - Best of luck.
[pleasant music playing]
Hello and welcome to Ask the Shark.
We have the MD and CEO of Edelweiss Mutual Fund,
Ms. Radhika Gupta. Ma'am, welcome.
Yashashri from Chennai has a question for you.
It says, Radhika, you work for a company.
Did you encounter challenges
transitioning from a founder to an employee?
Did you struggle with taking orders from someone else?
It is a good question.
I think it doesn't matter.
Entrepreneurship is not about
owning shares, but about intellect.
It's a state of mind, not a state of employment.
The second question is whether I work for someone.
You are always working for someone and that is your customer.
Back then, customers were my boss.
Even now, my boss is the customer.
Everyone in life has a boss.
Stay tuned. We will meet in the next Ask The Shark.
With a new Shark and a new question. Stay tuned!