Shark Tank Oye Happy
In this episode of Shark Tank India Oye Happy, a gifting company presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
|Company name||Oye Happy|
|Founders||Harsh Khemani and Varun Thodi|
|Ask||₹50 lakhs for 1% equity|
Oye Happy Founder
Harsh Khemani and Varun Thodi are the founders of the company they are from Hyderabad. They are cousins.
About the company Oye Happy
Oye Happy makes bedroom gifts that are naughty, entertaining and made in India. This is a gift-making company that not only makes naughty gifts but also makes creative gifts that were never seen before. Their best-selling categories are customized gifts, party games, and interactive greeting cards. Gifts are most loved when they are really thoughtful. They are available on their own website oyehappy.com and at other marketplaces such as Amazon, Cred etc. Their vision is to make oye happy a part of every celebration and every relationship. There are 50 members in their team.
Ask by the Owner Oye Happy
The owners ask for 50 lacs at 1% equity of the company at the valuation of 50 crores.
Oye Happy Sales And Revenue
Sales in FY 22 to 23 were 10.5 crores. Out of total sales naughty gifts hold for 15% while other categories hold for 85%. Gross margin is 80%. EBITDA is 12%. Last month’s sales were 80 lacs. Out of the total margin, COGS is 20%, 25% is marketing, 5% is delivery cost, 15% is technology cost, 20% is expended on salary and the remaining is EBITDA. They do 85% of sales from their own website oyehappy.com and the rest sales are done through different marketplaces such as Amazon etc. The repeat rate is 15%.
Offers and counter offers
All the sharks stepped out of the deal.
Oye Happy Final deal
No final deal was done.