Table of Contents
Shark Tank Primebook
Shark Tank India features Primebook, an Android laptop making startup Will this company be able to impress the sharks and bag a deal? To know, read till the end.
|Founders||Aman Verma, Pankaj Rawat, Umang Leekha, Chitranshu Mahant|
|Ask||75 lakhs rupees for 1.5% equity.|
Chitranshu Mahant, CEO is from Gwalior. Umang, CTO is from Delhi. Pankaj, Business Head is from Dehradun. Aman, COO is from Delhi. Chitranshu and Aman have graduated from IIT Delhi. They were roommates. Then both of them met with Umang when Chitranshu was invited as a speaker in a college. Pankaj is a common connection from Umang.
About the company Primebook
Nowadays education is becoming online gradually in many circumstances. In India, most of students dont have laptops as there can be two reasons: Affordability and the unsupportable format of android apps in windows platform. So in order to solve these issues they have introduced Primebook, a android laptop. They have their own made-in-India operating system – PrimeOS. This software has been downloaded by 30 lakh+ people from around 140 countries. They have sold their products to some ed-tech companies and NGOs USPs of primebook are Android App EcoSystem and Price to Performance Ratio. The price of a Primebook is 15000. Specifications of the first foldable android laptop are: 4G enabled, 11.6 inch HD screen, 12 hours of battery life, 4 GB RAM, 64 GB ROM(expandable upto 200 GB), all necessary ports and 4G SIM connectivity. They have 10000+ apps in Primebook App Store which the students can access through their prime book.An additional feature is also there known as MDM; mobile device management.
Ask by the Owners Primebook
Pitchers ask for 75 lakhs rupees for 1.5% equity.
Primebook Sales And Revenue
The equity splits: Chitranshu has 20% equity. Umang has 15% equity. Pankaj has 5% equity and Aman has 20% equity. 13% is for ESOP and 30% is for investors. They have a team of 14 members. They have 5 developers on their team. Their competitive strategies are telecom partnerships Raise enough capital.and developing network effect. The gross margin is 35%. If they made a lot of 20000 units then they can decrease the making cost by 10%. They have servicing across 21000 PIN codes through 350+ stations. They have raised money: 1 crore in 2018, 1 crore in 2019, and 1.5 in 2021. They have the sell of Rs 20 lakhs rupees in the last month.
Offers and counter offers
Aman counter offers for 75 lakhs in exchange of 4%.
Vineeta counter offers 75 lakhs for 3% equity.
Peyush counters 75 lakhs rupees for 4% equity.
Anupam counter 75 lakhs for 3% equity.
Pitchers counter 75 lakhs for 2.5% equity. Aman and Peyush were ready to accept this deal individually.
Primebook Final deal
The final deal was closed for 75 lakhs rupees in exchange of 3% equity with Aman and Peyush.