Shark Tank OLL
In this episode of Shark Tank India OLL, a skill development app presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till end.
|Ask||₹ 30 lakhs for 2% equity|
Shreyaan Daga is the co-founder of OLL. He is 18 years old. His father is an Angel investor. His father gave him 2 lakhs rupees for starting the business and he has returned the money to his father by manifold.
About the company OLL
Every year around 9.8 crore students graduate from school. Among them, 7.8 crore students do not have the proper skills and knowledge about technologies. There can be many reasons like many of us are not aware of skill development, costly application, and not availability of Teachers. To solve this problem OLL was born. OLL is a skill development platform for the class 1 to class 10 students. They provide live interactive classes and are certified by STEM and UNESCO. They have developed 35000 students with OLL. They have their hero workshops:
- Public Speaking.
- Financial Investment.
- Essential skills of the 21st century.
They generally visit schools to teach these skills. These are online live group classes. If school permits then they can offer offline classes too. They charge 2000 rupees per student in school.
The company ties up with teachers and pays them on an hourly basis. They have 300 active teachers on board. Their retention rate is 41%. Their reviews are 4.8 out of 5 among 12000 reviews.
Ask by the Owners OLL
Pitchers asked 30 lakhs rupees for 2% equity in the company.
OLL Sales And Revenue
The company has lifetime revenue of 2.2 crore rupees. Last month the sales was 28 lakhs rupees and net margin was 18 lakhs rupees. They have raised two rounds of funding. One at a valuation of 3.2 crore rupees from accelerator for 6.25% which is 20 lakhs rupees. Second round was for 90 lakhs rupees at a valuation of 9 cr. in the month of May. They want to increase the B2B orders as a result it will increase the up-sell and cross-sell of their products.
Offers and counter offers
Vineeta offers 10 lakhs for 2% equity and 20 lakhs debt at 12% interest rate.
Peyush and Vineeta offered again together for 20 lakhs in exchange of 4% equity and 10 lakhs debt at 12% interest.
Peyush and Vineeta modify the offer and make it 30 lakhs for 6% equity and no loan.
Pitcher counter offers for 4% with 30 lakhs rupees.
Pitcher asked to do it for 5% with the same value.
OLL Final deal
Peyush and Vineeta finalized the deal for 30 lakhs in exchange of 5% equity at valuation of 7.5 crore rupees.