[clanking]
[table screeching]
[music playing]
[music concludes]
[theme music playing]
[theme music concludes]
Sharks, the whole world is fed up
with the same old boring content on professional platforms nowadays.
Made with the purpose of guidance at one point,
these platforms have become a hub for work anniversaries,
achievements and articles like 'The Five Things I Learnt'!
If someone has a genuine professional query,
who do they go to if not this clutter?
Let me tell you.
Here, to Medial.
And we bring you Medial.
Medial is a professional social media platform
that declutters the noise of the internet
and provides young professionals
and seek professional advice
Sharks, by 2030, Indian start-ups are expected
to add Rs. 80 lakh crores to the GDP.
On Medial, young professionals can ask questions ranging from
getting jobs to raising funds without any hesitation.
That's why we've built an inclusive community.
I take immense pleasure, Sharks, in saying that
today, Medial has over 75,000 users
and our mission is
to make Medial India's first social media platform
that is globally relevant,
- because this wide space exists globally. - Absolutely.
And our ask is
Rs. 50 lakhs for 1% of our company.
- Thank you. - Thank you, Namita.
We worked together even in our last start-up.
We bonded over cricket for almost two and a half years.
When we got the idea for Medial and decided to build it,
that is when we got together.
- Which company was this? - Pratilipi.
- You've worked with Pratilipi! - Yes.
where all of us worked.
Writers can write and read in multiple languages.
What did you do there? What were your roles?
When I was in college in 2020,
Pratilipi acquired my start-up which I had been running since college.
- Did you get money? - Yes.
How much?
- It was an equity swap, not a cash deal. - Okay.
and a techie at a junior level.
I scaled there. I spent four years in the company.
- What's your background? - We're brothers.
Harsh used to manage tech in my previous start-up.
Unofficially at first as he was in college.
But eventually, after the acquisition,
Harsh officially joined them full-time.
What's your story?
I worked there as a platform engineer.
Majorly, my work included overseeing infrastructure, DevOps
and other such branches.
Sir, Hood was launched first.
- Anonymity is just one of our features. - Okay.
We believe that no social media
can scale to a great extent
without real identities.
That makes monetising tough, right?
As also, collecting the data of individuals.
Suppose you want to run ads in future,
the targeting becomes difficult.
When that isn't one of your features
and you're aware of the barriers,
then why did you offer anonymity?
It's because we're a professional platform.
It has generally been observed on professional platforms,
and even when we were conducting surveys,
that people are afraid.
They will be cautious of what they say
and be really formal.
A lot of people feel that they should not sound stupid
or that they might be judged.
So, people wouldn't create content on such platforms, right?
So, we gave that as an option.
It says, "Not meant to propagate sensationalism or hate."
You have to make a choice.
Right? You can't ride this boat and that boat...
Together.
- Aman can but you can't. - [chuckles]
Quickly give us your demo
or everyone here will start grilling you.
I'll give you a demo.
[music playing]
Sharks, this platform is divided into UGC and PGC,
the first string you see is our home feed.
on the remaining ideas.
When did you start?
We started in 2023.
What's the traction now?
Overall, we have 75,000 users.
We have daily active users of 7,500
And many times, they return to the app for news.
This seems to me like a bit of a feature factory.
When you see a good feature, you borrow it.
- It's a bit of Twitter... - Hmm.
A bit of Google News,
there are some elements of LinkedIn,
if they could integrate all the features into one product.
But that never happens
because the positioning is never clear in the minds
of the customers or users.
For instance, there's a company in your space called Grapevine.
It is very focused on the professional use case.
As far as I've heard, their platform has good traction.
You don't agree!
No. They have traction for different reasons, right?
They're 24x more funded than us and have been around for way longer.
I wish to tell you
that oftentimes,
we get dismissive about our competition too soon.
No, Saumil is a good friend by the way.
- I'm not dismissive. - But you were dismissive about your friend!
No. I think a few of our core metrics
are performing better than them at this stage.
- As of... - How? Your DAU/MAU ratio is 25%.
- Yes. - Right.
That's not great.
[tense music playing]
- Niket, let's suppose in a day... You said your DAU is 7,500. - Hmm.
5-10% of which must be power users.
Sir, overall 2% of them must be power users,
I see some power users on the charts
that spend 7-8 hours in a day.
What do they do?
They majorly run the feed.
- They comment on every post. - Reply to every comment and post.
They like basically everything.
An interesting metric that we noticed
a month or two after the feed was launched
was that our K-factor was steadily increasing.
Explain K-factor.
then today, it is 1.1.
We've seen a consistent increase in it.
- If you incentivise users for referrals... - Hmm.
Forget 1.2, you'll go way beyond.
So, K-factor is only one metric.
Don't digress.
- Don't switch the narrative, okay? - Absolutely.
Do you have an atomic network
or an atomic use case that it is going off the charts?
The increase that began was mostly
because every person who visits the platform
brings one or two of his most trusted friends
- who he talks to... - By the way, if the answer is no, just say no.
Or say, "I don't know as yet."
An interesting statistic is
that if a user follows another user,
then their retention invariably goes above 90%
and in some cases, 95%.
What day retention?
- D1. - 1.
Okay. What is your overall D1 retention?
D1, 50%.
How many people follow each other?
That is very little, not that much.
- That metric... - So, you... Look.
- You could take any hurdle... - Right.
And say, "If this hurdle is crossed,"
"my retention is 100%."
- Implying you're terrific. - Yes.
No!
Because if that hurdle is very high,
then very few people will jump over it, to start with.
I can promise you this.
We will figure out every way possible
to increase these numbers.
- Are you confident about this product? - Yes, sir.
What makes you think that this would be the next big thing?
You asked us about a feature that outperformed,
a use case we hadn't cracked.
One feature was Start-up Showcase
when we first launched.
What was it exactly?
Start-up Showcase was a section in the app
wherein anyone in India could pitch their ideas.
The public upvotes.
And out of the top 25 ideas, a VC selects the top 3.
When we launched this feature,
we thought we'd initially get about 50 ideas,
- They'd become Sharks. - Right.
- Yes, they'd become Sharks. - Sharks.
For that, we even got sponsorships
and branding deals on their own from big companies.
Build India's Product Hunt.
The next social networks to come, the big ones,
were Snapchat and Instagram.
Why were they started?
New networks get built
when an existing social network grows very large
and makes way for opportunities.
That gives rise to an Instagram or a Snapchat.
They have a unique insight
like disappearing videos
or building photo-based social networks.
I still haven't understood
what your insight is
that'll give you a right to exist.
Very honestly, we're experimenting with a lot many features,
as you can see in the app.
We're trying to be clear. It's very early for us.
We just launched Start-up Showcase and we're still testing it out.
But we promise you.
The moment we find the metric, it's all we'll focus on.
What's the equity split between the four of you?
16.72% with each.
Some is with the investors.
- Who's the investor? - Give us details.
In 2023, at the idea stage, we raised about Rs. 1 crore.
The first cheque was from a VC and five were from angels.
At what valuation, Niket?
At the time, the post-money valuation was Rs. 15.2 crores.
In 2024, we raised another round
for half a million dollars, Rs. 4 crores,
in which our valuation was Rs. 20 crores.
When was this?
What are you even doing? I fail to understand.
I mean, it's a bit of a joke if you ask me.
You have no business, product,
traction, micro-use case
and no power-use case.
And you're not aware of it.
You're LinkedIn, Twitter, this, that... Everything!
I'll ask you a few questions and I want answers.
This time, please answer them
because no matter what you're asked, you just beat around the bush.
And you're just fishing for funding
because I'm not even clear why you've come here.
You want Rs. 50 lakhs for 1%. Why?
- Sir, majorly for your network. - What network?
We thought that suppose we face a tech issue
or if we're missing clarity of thought,
we could get it from you provided you were interested in it.
You must have a network of 8-10 invested people.
So, you have enough resources to network.
What can one more person do?
I think you've come here for marketing which is okay.
But that is not your problem.
Your problem is product-market fit.
Actual conversations take place here and real problems are discussed.
- A professional... - Like what?
For instance, you're in a tech career.
You want to decide if you should move to another stream
or continue with your existing tech career.
Who will you ask? You have no one.
Twitter and Reddit...
Such communities exist on many such platforms.
All I'm saying is they are scattered.
If we integrate them, we could build monetisation use cases.
Ugh!
I think you want to build one type of business
but you've built something different.
It happens to many founders.
I guess it must have happened to me as well in the early days.
Focus on what is working and grow that kernel.
Feedback taken, Kunal. We'll definitely think about this.
If you implement Kunal's feedback,
your whole business model will go for a toss.
- So, yes. I... - You understand?
You know, for today, I'm out because I don't have that clarity.
You can't be all over the place.
Thank you.
Focus on one use case
that everyone else is ignoring
and build a brand and high stickiness
against that use case.
Brand perceptions these days have narrowed down.
Think about it.
WhatsApp is only chat.
It is so integrated into your life,
but that has also struggled over the years
and is trying to still expand use cases.
Hmm.
If you really want to bring about disruption,
then start from the bottom up.
You can't aggregate those at the top and do it.
They're way smarter than all of us put together.
- Good luck! I am out. - Thank you.
I hope that you take a tough decision
to strip out all the other things
and take a hard call for your product.
So when this goes on air, we are ready
to discover 1000 of start-ups
and they showcase themselves
and then start their business idea's flywheel.
But for now, we are a little behind from our destination.
Hence, today I am out.
Thank you.
I think, in the ecosystem to showcase the start-ups,
there I think your DAU might be relatively less on that larger scale.
Correct.
- But you will get high-value users. - Correct.
Then they would be uniquely or with
large platform, they can be value accretive for both.
So I want to help you to go into that path.
So I will give you a conditional offer.
Oh, boy!
You want 50 lakh. We'll invest that in your company.
But your previous round
- for which you received the amount this month, - Yes.
I want to invest in that round's valuation
because of which I will get a 2.5% ownership.
But the condition is that
- you will position your platform around
- Medial as the 'Start-up Showcase' App. - Right.
- We get it. - You would design your business around that
so that when the show airs',
until then
you will welcome disproportionate number of start-ups to your platform
so that they can bring as many users as possible
and with that, you can reach your first million users.
Thank you, Ritesh sir, for the offer.
Will you change your business in the future?
We can shift the focus without making many changes in the App.
By making 'Start-up showcase' as the homepage
or shifting branding and marketing over there.
The App can still be built-in other pockets.
So, for money, you will change
- your dream of what you started on. - No, it's not just for money.
Then?
If it's about clarity
and if we are doubling down and getting the results,
then why not chase that? We are open to considering new things.
That might help us.
We don't want to create it in a closed environment.
You made your product by aggregating it.
You are shaping your product roadmap
by gathering input from everyone.
I don't think you can build anything, my friend.
Sorry, Aman.
- Sorry to interrupt. - No, I agree with what you are saying, Anupam.
I like founders
who are more connected,
smart and confident
but are humble.
I will not be able to join in this rat race. I am out.
Thank you.
- Can we just take 1... 45 seconds? - Sure.
Thank you.
[music playing]
I think that Ritesh sir is open
for us to experiment. He has a thought.
He seems quite supportive.
He will accept the offer and not take it later.
I assure you.
The other investors won't let that happen.
A lot of times, we bet on the founders, Ritesh.
And these founders are an absolutely confused lot.
But the engineering skills are good, right?
We are trying to help them find clarity.
You can't run it for them.
[music playing]
Ritesh sir, deal done.
- You have raised Rs. 5 crores until now. - Yes.
You promised the investors
- and they agreed to join you on that premise. - Right!
Now, for Rs. 50 lakhs,
you will disappoint them...
- But they have already created the startup showcase. - Hold on.
- It's just a question for them. - You can ask them once I give this.
You didn't give them the deal.
This is not the event that happened that I could ask the question.
It wouldn't make sense if I asked him in the beginning.
Let me give them the cheque
- and then you discuss it. - But I still want to ask the question.
No, I won't join them.
They are not startups. We'll bring those who are interested.
No, we are also a startup.
How will you... I want to know.
They gave you Rs. 5 crores and you made them a promise.
- Right? - We will do that, sir.
Now, for Rs. 50 lakhs, which is 10% of that amount,
you will change your direction.
We won't change anything in the app.
We will temporarily shift the central focus
to the startup showcase and see if our metrics blow up or not.
You will just move the focus and keep the rest?
- Yes, we will. - Correct.
Like I said earlier, I feel...
I'll say it again, you are here for marketing.
Nothing wrong with that.
But you should've clearly said that.
I think the pitch would've gone differently.
I'll tell you one more thing.
Anyone can applause and do cheerleading.
The real value you will get is tough love.
That's the definition of a good coach.
Remember that.
- Yes, sir. - Right? If you've managed to secure funding
just by agreeing with everything,
it will create problems for you in the future.
And Niket, you mentioned at the start
- that you will focus on the product you made. - Right.
I want to nudge you on that path.
Stand by your opinion
and I'm sure you will do very well.
- All the very best. - Thank you.
- Thank you so much, Sharks. - Thank you so much.
- Take care. - Congratulations!
Thank you!
[music playing]
We need investors who can support us
in experimenting and creating something
that's hard to create nowadays.
No company from India has managed to make a global social media.
If we try to do something that's impossible,
for that we need immense support, especially from our investors.
The narrative here seems to suggest
that they might be changing their path,
but I feel they were already on this route.
They launched the features more than a month ago.
I believe they would have eventually done the same thing after a year.
I'm just pushing them to accelerate along the same path.
'I don't think these guys can win.'
Founders have an approach
that makes them winners.
They listen to everyone.
But they are not so quick to change their models
and agree with everyone.
Hi, guys! Welcome to the PokerBaazi Zone,
where you hold the card.
Have you ever played poker?
- No! - Not really.
- This is not a Bengaluru trait that you've missed. - Yes.
- Yeah! - No worries, I am here.
There are a lot of similarities between poker and business, okay?
There is risk involved. There's strategy and analysis.
Your top is Straight and your bottom is High Card.
- Okay! - Right?
Could you tell me
which five functions are in focus in your business?
- I think the first one will be Distribution. - Distribution.
Hmm! Distribution. Okay! Next?
- I think Tech & Product. - Tech & Product.
- Third? - I think Team Culture.
Team Culture.
- Right! - Marketing is next.
- High Card. - Fundraising.
You received a conditional offer.
Do you think you will pursue fundraising after this?
We will need a lot of fundraising in the initial days.
- Just like any other social media. - Right!
If you have the skills and strategy,
then go on PokerBaazi and create your winning hand.
Go and download the app now.
'Shark Tank India, co-presented by ACKO Insurance, '
'PokerBaazi and Swiggy Instamart.'
'Co-powered by Adani and Jaquar Bath and Light.'
And partners, Rayzon Solar, ICICI Direct and Lenskart.'
[music playing]
[theme music playing]
Greetings to you from
the founders of Panchal Dairy and the Maldhari community of Gujarat.
I am Arpan Rabari.
Maldhari is the oldest profession in the world.
that's why our livelihood wasn't running smoothly.
And the youngsters were settling in the city.
We thought, if this continued,
then one day our tradition would fade away.
So, we tried a cheese.
We tried an actual cheese.
That is when we started Panchal Dairy.
And we started making different cheeses
from artisanal goat and sheep milk,
such as feta, marinated feta,
fresh goat cheese, halloumi, ricotta, Saint-Marcellin.
We made different types of cheese.
We are not using any shortcuts or chemicals.
We use fresh
and natural ingredients to make them.
Panchal Dairy has also entered the World Cheese Awards.
Our product is not just a creation,
it is a symbol of our heritage.
Every piece of cheese reflects the stories of our people,
the songs of our goats and sheep
and the purity of our grass.
Sir, our intention is straightforward.
To empower our people
and share our flavours with the country and the world.
We ask for Rs. 20 lakhs for 10% equity.
[laughing]
- It is like attending a wedding for us. - That means a lot.
- You might marry an investor here. - Very nice.
Which city are you from?
I am from Janivadla near Surendranagar.
- Which city is nearby? Rajkot! - Closer to Rajkot.
- Yes, sir. - Yes.
When you started,
did you plan to do something else
- or did you decide to do this? - Yes, sir.
We were preparing for a government job.
- Then? - It got delayed due to Covid.
An NGO was working towards improving
the health of our goats and sheep there.
And then we thought of doing something with goat and sheep milk.
We went to serve, but we ended up receiving blessings.
Amazing!
We went to help our community thrive.
We realised that people are importing milk
rather than buying from us.
So, we started this.
It would help our community.
People have started this business, but it could benefit us.
We left everything behind and got involved in this.
Could we try the cheese?
[music playing]
What should I take?
This one is here.
Should I take the entire thing?
[music playing]
Okay, brother.
The fresh cheese is delicious.
I am amazed by this
with this idea from a village?
How did you realise that there's a market for it?
This is what is really surprising me right now.
We discussed with the NGO about what we can do.
Because we had to do something with goat and sheep milk.
But how?
That's when the NGO
introduced us to Namrata Sundaresan.
She told us about artisanal cheese.
Which city is she from?
She is from Chennai.
She told us that this could be our asset, so, we bought it.
- You mostly make it by hand. - Mostly by hand.
It doesn't require too many assets. There are two refrigerators,
one draining table and small moulds.
- Is there a video we can watch? - Yes.
[music playing]
- Very nice. - Thank you.
- You've become experts in making cheese. - Yes, sir.
Recently, our fresh goat cheese
was nominated in the World Cheese Awards
- held in Norway last year. - What are you saying?
I used to wonder how you could make this in a small village.
- You mentioned 'artisanal'. - Artisanal.
It is typically linked to urban centres and metro areas.
That's amazing. There are how many people in your village?
- There must be around 1,500 families. - Yes.
- It is a village of 1,500 families. - Yes.
- You are making artisanal cheese there. - Yes.
- This is incredible. - And you are going to Norway for this.
- You submitted this in Norway for an award. - Yes.
That is amazing.
- Congratulations. - Very good.
Congratulations.
- You must have seen... - Yes.
In factories where milk is extracted to make cheese,
the process of extracting cow's milk has transitioned
from manual to automated methods.
Have you looked into whether there's something similar for goats
around the world, or is this technology exclusive to cows?
We have not tried that.
- I want to understand the product a little. - Yes, sir.
And your revenues.
We started in 2022.
In the first year, our revenue was Rs. 6.20 lakhs.
In the second year, it was Rs. 6.64 lakhs.
And last year, our revenue was Rs. 1.78 lakhs.
You tell us what they are saying, Namita.
No, I asked why the sales went down.
They said it's year-to-date.
So, what will the exit for the year be?
- This year, it will exceed Rs. 7 lakhs. - Yes.
That is also flat.
Since last year, it has been stagnant.
In the first year, we were not just selling cheese.
- Milk and cheese. - The revenue was from milk and cheese.
But you don't sell it now, right?
No! We only sell cheese now.
Could you provide the cheese sales data for the past three years?
In the first year, it was around Rs. 3.5 lakhs.
- Okay. - In the second year, I think it was Rs. 4 lakhs.
But in the first year,
we mostly provided samples.
- And we sold the most at events and exhibitions. - Understood.
Because of that, a large portion went towards sampling.
Tell me something.
Where do you sell your products
worth Rs. 6-7 lakhs and how?
Sir, mostly we sell it through Namrata ma'am's website.
So, 90% of products are sold on Namrata's site.
80% on her website
- and the rest comes from events and exhibitions. - Understood.
I get it. Do you make a profit?
- Not yet. - Nothing?
- No! - Have you invested your money?
- Yes. - How much have you invested?
We invested Rs. 8 lakhs.
- Rs. 8 lakhs! - Wow!
Who invested? Is it your money?
We invested our money
and took some from the women in the community.
Who invested and where did they get the money from?
In our community,
women handle the accounts.
- Wow! - Amazing!
We convinced the women
that we were setting up a business
and if they supported us and if we became successful,
it would benefit them, and we would collect milk from them.
- Very nice. - Let me tell you, sir,
- when we grow. - Because you are adding value
- to their product. - Yes.
How much time does Ms. Namrata spend with you?
If a new customer wants a certain type of cheese,
we contact her
- and she makes the new type of cheese. - Okay.
And you have not given her equity.
No, nothing.
She has contributed a lot to your business,
so why didn't you give her equity?
She runs a business. She is a cheese trainer.
- She has... - You have a business relationship with her.
- Yes, sir. - She might be successful
- and she wants to help you. - Yes.
- People don't always want equity. - Yes.
You invested Rs. 8 lakhs.
How do you cover your expenses?
We are covering our expenses with what we have.
- Do you take salaries? - We withdrew it once
How much is your monthly expense, friend?
Around Rs. 30,000-Rs. 35,000.
You are saying you have money left for three months.
If you exhaust this money,
will you go to those women again? Do you have a plan in place?
We will apply for a loan
or something. That is what we have planned.
Against what?
Will you mortgage the house?
Against our assets.
When you entered this business,
I think you got into it by chance.
You didn't want to get into this.
You were seeking government jobs.
- Yes, sir. - And you thought of giving it a try.
If you get a government job, will you go back?
- No, sir. We will grow this. - Why?
Arpanbhai and Bhimshibhai,
you worked hard for 2-3 years.
You understood the business.
Now you want to take the next step and do something.
What is your vision?
Sir, our market...
First tell me, what is your ultimate goal for this?
We want to make this profitable
and empower our community.
And the market is very far for us.
We know that,
but we don't know where people will buy.
So, to get there, we...
There is one more challenge. If your market is far,
as far as I understand
anything that is fresh, it has a short shelf life.
Yes, sir.
Is that not creating a problem in distribution?
No, sir. We have a tie-up with Blue Dart.
They are shipping all over India within 24 hours.
- So... - That must be in small lots
- that people use for consumption. - Yes, sir.
There are bulk orders too.
We use thermocol... We supply it
- with the cold chain. - What is the shelf life of fresh goat cheese?
Fresh goat cheese has a shelf life is 2 months.
- In that case, you can also export it. - Yes, sir.
Does it require specific packaging?
Do you have to sell it in cold storage or not?
- Supply! - No! We need to maintain the temperature.
You are doing Rs. 7 lakhs per year in business.
- Let's assume, you get Rs. 20 lakhs. - Yes.
How far will this business go after investing Rs. 20 lakhs?
We believe it will reach around Rs. 15 lakhs.
Because without putting in too much effort,
we are making Rs. 7 lakhs.
If we properly enter the market, it can grow.
You said you'll turn Rs. 7 lakhs into Rs. 15 lakhs.
- Yes. - Eventually, let's assume we meet after five years.
- Yes, sir. - How much revenue do you think you can make?
Not next year, five years later.
Revenue in the next five years?
What do you wish for? How far do you want to go?
How far do we want to go?
We want to make it an international brand.
How big do you think the business can get?
We have a goal to reach there.
What is the goal? Do you have something in mind?
We have not thought about that.
Arpan and Bhimshi,
I think as everyone said,
you two are truly inspiring individuals.
What you've done, creating artisanal cheese
in such a small village
and how quickly you're naming cheese. It's impressive.
Most people in urban cities also
don't know the names of these cheeses. That is great.
But I also think
you don't have a strong hold on business.
I think this is too early for me.
You have not decided
how big this will be and how to distribute it.
I don't know how I will be able to help you at this stage.
- So, I am out. - Thank you, sir.
Your intention has inspired me.
Your way of thinking is truly visionary.
You started from a village, but you are going international.
But your business has just started.
And I might not be able to help you in this business.
But you should keep at it.
When this business
is around Rs. 50 lakhs
and you need help
with export,
that's when I'll be able to help you more.
Therefore, I am out.
Thank you, sir.
From a small village,
you are trying to make
- the world's best product and not just in India. - Yes, sir.
- I appreciate you a lot for that. - Thank you, sir.
- You have been pursuing this for the last 3 years. - Yes, sir.
And that's why I think you've seen low times.
But I also believe you need to see that for the next 2.5 years
to be able to decide
whether you want to do that for the next 15 years.
Because I believe
you are passionate about your community.
But I am not certain if you are passionate about your business.
So, for that reason, I am out.
It's a good mission.
You should do well. I hope you do great.
I think you shouldn't look for an investor now.
You should make this better.
How to make it better without an investor
and how to sell your products more.
If you take money from investors,
there will be paperwork, too much work and exit clauses.
You need more time to understand that.
For that reason, I am out.
- Thank you, sir. - Thanks.
There is an invisible power in India.
You told us two things. One is Namrata ma'am.
Without any expectation,
she doesn't want equity or anything in return.
The way she has backed you, even to come to Rs. 7 lakhs,
- is truly commendable. - It's amazing.
The second thing you said was that to had to pitch to the women
who are at home.
We should appreciate them
- on national television. - Good point.
Right?
Now, let's come to your business.
I noticed one thing in manufacturing.
- Small things like wearing gloves while working. - Yes.
Hygiene is a crucial thing in food products.
I asked about automation, videos,
how it is made in the world and distribution.
There are a lot of things you must learn.
I will give you a challenge.
I will give you Rs. 2 lakhs as a loan from my CSR fund.
We will
give you enough money for six months.
If you can prove to me that the flat revenue of Rs. 7 lakhs
for the past four years
can be grown month-by-month
and exit this year at Rs. 14-15 lakhs,
then after successfully meeting that challenge, I will invest in you.
Wow! Nice.
What do you think?
- We will do it, ma'am. - Do you accept the challenge?
- We accept it. - Yes, ma'am. We accept.
Superb!
I will guide you once every two weeks on Zoom
about distribution,
marketplaces and manufacturing as we mentioned.
Automation and what is going on in the world.
But as an investor, I am out.
- Okay. Thank you, ma'am and sir. - Thank you.
Many congratulations.
- All the very best. - All the best! Good luck.
we will be able to grow.
We will work towards it.
[music playing]
It has been portrayed beautifully behind me
on this Change Makers wall.
In a changing environment, we are bringing a transformation
through innovation and a forward-thinking mindset.
And today's change makers are Arpan and Bhimshi.
Welcome!
You brought a change in your village
and a cottage.
How do people like me and viewers bring a change in their lives?
There is a reason behind this.
No work is small.
If you dedicate yourself to your work,
you will see improvements.
So, don't think
that you come from a small village
so you won't be able to do it.
If you work towards it, it will definitely work out.
You learnt the skills
and gained knowledge.
You made a manufacturing unit.
- That is also a change. - Yes, ma'am.
How did you learn all that?
You have to decide
what you can do.
And you learn how to do it gradually
while working on it.
You will automatically find a way
and you will grow.
Thank you so much. You had resources that you identified
and capitalised it and started a business.
All of us appreciate this change.
Just like you, ACKO is also bringing a change in the society.
ACKO, with its revolutionary offering,
is changing its insurance landscape.
Zero waiting period in health insurance.
It means that if you meet all the specified health conditions,
your coverage will begin from the first day of the policy.
And you can claim it without any standard waiting period.
Because of this change,
ACKO welcomes you.
I know that only women have given you something in your life.
So, I am also one of them.
A small special gift
from Shark Tank and ACKO.
[camera shutter clicks]
[theme music playing]
Hello!
For children who love music
and who were not getting the right music guidance,
I started Music Pandit for them.
Music Pandit is an online school
we teach music to children
who are 6-14 years old.
We make their musical foundation strong.
Sharks, we all know that music shapes a child's
character and confidence.
That's why we have taught
more than 700 children
all over India
and 15 other countries.
reaches every child in the world
and that their relationship with music never breaks.
For that, our ask is
Rs. 50 lakhs for 1% equity.
let my performance convince you.
Sure! Bring it on.
Come on in.
- Oh, wow! Oh my God! - Oh!
- So sweet. - Look at those little ones.
- Hi! - Welcome!
Hello!
Wow! So many of them.
- How are you? - Hello!
Oh my God,
- the flying kiss. - Hi, little ones.
So, kids! Ready?
All right!
[music playing]
- Nice! - Yeah!
- Let's go! - Let's go! [all]
[singing]
Yeah!
[singing]
- Wow! Fantastic! - Well done.
- Thank you, guys. Great job! - Well done, kids.
- Thank you! Amazing! - You deserve a standing ovation from the Sharks.
- Thank you! - Tell me something.
I saw everybody, they were singing.
You were doing all this.
- I love it! What was going on? - He was really enjoying it.
You couldn't help yourself.
You were enjoying yourself.
- All of you. - All of you look so happy.
Have fun. Bye!
- Enjoy! - See you. Bye, guys!
- You started off really well, Serah. - Thank you.
And this performance made our day.
- Good! Thank you! - Thank you!
Let's know more about you.
- You said you are from Kerala. - Yes.
Is that where you got your schooling and education from?
Yes. I am a product of boarding school, actually.
I was in Ooty for 5-6 years.
After that, I went to Bengaluru for engineering.
Then I did my MBA.
I always knew that I wanted to pursue music.
That was the point where I started looking for opportunities in music
and worked with a music company.
Which music company? What was your role?
Furtados.
- Oh! - Oh, yeah! - Of course!
After that, I started
an offline school called BlueTimbre
- in Bengaluru. Then, COVID hit us. - Okay.
Just before COVID,
- we had planned to go online. - I see.
We had started pre-recorded classes for adults.
After that,
we entered the children's world.
That's when we found Music Pandit.
We shut down
the offline school entirely.
We registered the company in 2021.
We have seven subjects.
Three of those are singing. Western vocals,
Teaching music online is the most challenging thing ever.
That's a myth.
Okay? I'll explain why.
- Imagine you've sent your child to a music class. - Yeah.
They're learning guitar.
Perhaps you want their teacher to correct their posture.
But do you really want somebody to touch your child to explain it?
- It's a music class. - You don't want to.
It's a profession. You have to do it.
Even the hairdresser is doing his job.
We won't ask him to cut without touching it.
See. We believe
the posture or anything based on instruments
can be resolved easily
with the right instructions.
Moreover,
when we do a group class
with multiple students,
they do things together
worldwide.
The excitement and energy in the classroom
is where the human touch lies.
Many companies
teach music online.
But they do it one-on-one
because they've not figured out
how to run it with one to several students.
I see.
That is something we do differently.
None of these kids have met each other before.
Never?
- Wow! - They seamlessly integrated together.
We've practised for one week
- online. - Great!
But they must be together in the digital class.
No.
They're from different batches.
- If this is your result in a week, - Yes.
It's too good. In no way could we tell
- that they've not practised together. - Exactly!
Our pedagogy works.
What do you mean by pedagogy?
Pedagogy is the way of teaching.
For example,
when we start with young children...
Suppose the kids are five years old.
They can't read.
So, we can't use lyrics.
We have to use visual aids.
We also can't teach them the technical terms.
So, we start with simple terms
and lots of fun, games, and songs.
Why don't you think about a hybrid model?
The classes can be online,
but once a quarter,
there can be offline touchpoints.
So, music classes will continue to be online.
But our performance is where
the kids get the live experience.
- Hmm. - Right?
We've started performing in Bengaluru.
We organised a recital last week at a piano festival.
We gave them exposure and held a workshop.
They performed in front of a live audience.
Are these classes all year round?
You can complete one level in six months,
45 minutes per class,
two classes a week.
Let's check the beginner curriculum.
Can you double-click and explain
What skill level do they achieve?
The kids join at a beginner level.
Usually, around six to eight years.
and specific technical aspects.
We teach that.
But the songs we use can be different.
- Got it! Then... - So, we prepare
our students for these exams, too.
So, you don't give the certification.
- We have our certificate. - I see.
- But we're not accredited yet. - Okay.
The process is going on.
Who gives you the accreditation?
The government, maybe.
Not the government of India.
We're in talks with
Are these parents seeking a hobby,
or do they have a bigger dream of turning them into a star?
I think 70 per cent of parents
do it because their child likes music.
How is Music Pandit discovered?
We're posting ads online
in Meta and Google. We're also investing
in SEO.
It's all through the website.
Our beginner course is for Rs 26,500
for six months.
- What is your renewal rate? - 75 per cent. - Oh, wow!
- Fantastic! - That's considerably high.
You started operations in 2022.
- Correct. - But you began classes in 2023.
What did you do for a year?
We were hiring the key personnel by the second half of 2022, like
- the principal, vice principal... - Oh, wow!
We have 16 teachers.
We have the admissions office and the student administration.
- It's a proper school. - Seriously?
- Yes. - How much have you invested?
Until now, Rs 4.5 crores.
Did you raise this capital from a third party, or is it your money?
My family raised it.
By family, I mean my father, my uncle and my cousin.
How much did they invest?
All of the money is theirs.
You've invested that so far. You might have more in the bank.
We have Rs 35 lakhs.
Okay. So, you're almost out of money.
Yes.
Will they invest more?
No. We're already raising money from two other investors.
We're raising Rs 2 crores
at Rs 30 crores valuation.
According to my calculations,
you have around 250 active students
monthly.
No.
It's 500 plus.
That's impossible.
- If your total revenue was Rs 19 lakhs last month, - Yes.
The new students
contribute around Rs 10 lakhs.
Rs 9 lakhs are left.
- You're taking Rs 26,000 for six months. Right? - Yes.
Rs 20 lakhs divided by Rs 4000 is 500.
Half of that is revenue of six months taken in one month.
So, your calculations aren't adding up.
Some students may have enrolled at lower fees.
The initial students were given discounts.
- How much is that? - The lowest would be
around Rs 21,000.
The maths isn't adding up, Serah.
Your loss will go above Rs 10 lakhs
once you recast this.
Serah, tell me one thing.
Then, why didn't you hire an accountant?
[laughing]
We have an accountant.
Then, isn't your accountant telling you the monthly MIS?
No. We've not done the accounting in this manner.
We've not divided it over six months.
We didn't do that.
Okay, Serah. Music and reading
are two pillars of development that we are
banking on as a family for our children.
So, I'm glad
you converted your passion into a business.
You have 700 students today. Perhaps in the future, you will inspire
thousands of children with music.
But there is no product-market fit in your business right now.
Part of its reason
is you've not built the business under constraints.
You built it in abundance.
You turned this business into a white elephant.
You've gathered several people who are also expensive.
There is less scrappiness in your business.
Everything was made in the platinum grade.
That is why the discipline on cost
and ensuring faster growth
to get revenue that pays for future growth is absent.
For these reasons, I'm out.
You don't need a principal for this.
Neither do you need a vice principal.
You may need it in the future, but not now.
Secondly, it's okay for beginners.
However,
everyone will want a professional school later.
Two points are important for me.
Firstly, there is no accreditation.
Right? All the parents in India
want some resume-building and certification
for their children.
They want both your and Trinity's certificates.
Secondly, it's not only about the outcome
but also the experience.
So, structuring the offline element
is important for me, and it's missing.
I am out because of that.
My concern is the reward for the risk.
You're trying to set up a school. It's a school versus
focusing on making children good at music.
The reward for the risk will not be enough at this price.
I am out because of that.
I wish you all the best.
- I hope you do great and Music Pandit prospers. - Thank you.
Anupam, please
come on board.
Your family has lost Rs 4 crores.
You want me to lose my money.
You won't.
I will, Serah.
Nowadays, in startups,
there is a thought
of proofing the concept when you start something.
You study the market.
You study people who have been there before.
If you had focused on that,
you would have realised
that this industry
doesn't seem to have many great opportunities.
Many people have tried it
and have failed terribly.
The conversion is 0.2 per cent.
The funnel is so weak
that its LTV to CAC ratio will never suffice.
If you want to give it a shot and go through it
use the money you have
and do it yourself.
Get rid of that entire team.
Try it for a few months.
See what to do if it works out.
Most likely, it won't work out.
You'll have to think of something else.
Save your money.
Get out of this business. Good luck.
- I'm out. - Thank you, Anupam.
- Thank you. - All the best, Serah.
Thank you. Wish you the best.
Until now, we've taught
more than 700 students.
We also have a 75 per cent retention rate.
So, there is some proof.
In the future,
we want to grow bigger.
We plan to enrol around 2000 to 3000 students
in a year.
If we can retain 75 per cent or more,
that will be concrete evidence.
So, I'm looking forward to that.
So, are you binge-watching all our pitches?
Luckily, I can order anything from Swiggy Instamart.
Let's see. I'm a little hungry.
Erm, oats!
Fruits!
Something snacky, so I need a cup of noodles.
My makeup artist told me that my lips are chapped. So, a lip balm.
And the order was placed!
Simple!
It will be here in ten minutes.
It will be here in as much time as it will take me
to watch my pitch. Go on Swiggy Instamart and order now. Bye.
You're also playing the guessing game
So, let me tell you about a real deal.
Visit the Lenskart app or lenskart.com
and participate in the Offer or No Offer contest.
give me some commissions.
Hello. Welcome to Ask the Shark.
He pulls everyone's legs,
meddles and jokes around. But he has all the knowledge.
Anupam, that is you,
the CEO and founder of People Group.
I don't understand if you're praising me
- or mocking me. - You will never know.
That's the problem.
Okay. You're with us today.
Many people have sent questions to you.
- Okay. - Shubam Iyer has asked this question.
He's very young.
He's a 23-year-old lad from Mangaluru.
- I mean, things are changing at such a fast pace! - Yes.
But let me tell you in detail about this.
When we started our business,
all of the companies I built
That has reversed today.
Today, 70 to 80 per cent of it is from SEM or paid advertising.
So, the importance
of SEO or organic results has decreased considerably.
Having said that,
when you start a new business,
SEO is free.
If you're starting from scratch,
a few clicks will also benefit you.
So, one should definitely do it
because it is a hygiene item.