Shark Tank Dobiee
|Founders||Arjun Mukesh Dharamshi and Mukesh Dharamshi|
|Ask||₹72 lakhs for 2% equity|
Arjun Mukesh Dharamshi and Mukesh Dharamshi are the founders and are from Mumbai. Mukesh used to work in bus tempo earlier and opened cold drinks bottles. Later out of curiosity he went to a candy factory to find out how these candies are made. Arjun is a mechanical engineer.
About the company Dobiee
They bring joy and fond memories of childhood in the form of candies. Nowadays people have almost forgotten about these candies and the Indian market size of candies is 20000 crores. Dobiee is a confectionery brand that makes various types of candies. They make double-flavored candies such as pineapple and coconut, strawberry with lemon, and pink guava with green guava. The products are sold in different packaging sizes. They make a few different products such as toy candies which come with two or three toys inside the packet. The company was started in 2001 and till date they have sold 9 lakh Dobiee packets. Dobiee is available in 50000 offline outlets across 9 states in India. From next month they are going to be available online through Amazon. Their vision is to make Dobiee as the king of candy and take this globally. These candies are made in an in-house manufacturing unit. They started to sell the products through Punjab
Ask by the Owners Dobiee
The pitchers asked for ₹72 lakhs in exchange for 2% equity at the valuation of 36 crores.
Dobiee Sales And Revenue
Their lifetime sales are more than 4 crores. The last month sales were 32 lakhs. They sell their products through a network of distributors, stockist, CNF. MRP of a packet is 100 rupees, trade margin is 55 rupees, price to distributors is 45 rupees, COGS is 22 rupees and gross margin is 23 rupees. Factory capacity utilization is 15 to 20%.
Offers and counter offers
Amit give an offer of 40 lakhs for 5% equity of the company at the valuation of 8 crores and 32 lakhs debt at 11% interest rate.
Anupam gave an offer of 72 lakhs for 11% equity of the company at a valuation of 6.55 crores.
Founders given offer of 72 lakhs for 5% equity of the company
Anupam revised his offer for 72 lakhs for 9% equity.
Amit revised his offer for 72 lakhs for 7% equity.
Amit and Anupam jointly gave an offer of 72 lakh for 10% equity
Founders give an offer of 72 lakhs for 6% equity of the company.
Dobiee Final deal
The final deal was closed with Amit for 72 lakhs at 6.5% equity of the company at the valuation of 11.07 crores.