Shark Tank Broomees
In this episode of Shark Tank India Broomees, a domestic help solutions providing company presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
|Founders||Saurav, Niharika Jain and Vaibhav Agarwal|
|Ask||₹80 lakhs for 2% equity|
Saurav, Niharika Jain, and Vaibhav Agarwal are the founders of the company. They are from Delhi. Saurabh and Vaibhav are college friends and previously they have worked on various projects on social entrepreneurship. Niharika was the first customer of Broomees. Niharika works as a customer acquisition, marketing, and strategic planner. Vaibhav is the CEO and looks after the tech and product-related work Saurav is the COO and looks after the operations and supply chains in the company. Vaibhav holds 25% equity whereas Saurav and Niharika each have 22% equity 5% is ESOP and the remaining 25% is with investors.
About the company Broomees
Broomees trusted homemakers present solutions to various problems in domestic help. They provide you with a trained cook, a trustworthy babysitter, and complete house help all three in one. Broomees is a tech-enabled platform, through which one can book a cook, a baby sitter, a house help, or an all-rounder. They are available across their own website and app. The booking process can be completed in 2 minutes on the website. They provide a verified, trained, and reliable worker. Other benefits provided to these workers are health insurance, child education, interest-free loans and female hygiene products, and the opportunity to earn 3 times more salary. Broomees has provided its service to more than 5000 households in India. Broomees was started in February 2021. The sourcing of workers is done through offline and online channels. Online sourcing is done through worker apps and offline sourcing is done through training centers and on-field campaigns. They have two separate apps for customers and workers where they have options for replacement and feedback.
Ask by the Owners Broomees
The owners made an ask of ₹80 lakhs for 2% equity of the company at the valuation of ₹40 crores.
Broomees Sales And Revenue
Their monthly request for workers is approximately 250 and a fulfilled request is 140. The average contract life is seven months. The average contract value is ₹7000 to ₹11000. The company gets roughly 10% to 14% commission. In the first pre-seed round they had raised an investment of ₹4.2 crores at ₹28 crores post-money valuation. Currently, the second round investment is going on of ₹7 crores at ₹35 crores pre-money valuation. Their monthly burn is ₹20 lacs. The take value is ₹15 lakhs. The gross transaction value is ₹95 lakhs.
Shark Tank Be Unic
Offers and counter offers
Namita and Aman together gave an offer of ₹80 lacs for 3% equity of the company.
Anupam gave a dream deal offer of ₹80 lakhs for 2% equity of the company.
Namita and Aman revised their offer at ₹80 lakhs for 2% equity of the company.
Later Peyush joined Namita and Aman revised their offer at ₹80 lakhs for 3% equity of the company.
Founders give a counter offer of ₹2 crores for 5% equity of the company.
Anupam stepped out of the deal.
Broomees Final deal
The final deal was closed with Peyush, Namita, and Aman at ₹1 crore for 3% equity of the company.