This is shark tank India episode number 30. In this episode of shark tank India a sterilised glass mask, a platform to bring kabaddi on every screen, a flower gifting brand and scholarship providing app are the pitches.
1. Sippline Drinking Shield
- Owner: Rohit Warrier
About Sippline Drinking Shield
In hotels or any public places many times we have seen dirt marks, lipstick marks on glasses while drinking water or drinks. This can affect our health. So for solving this problem Sippline Drinking Shield was born which is a sterilised and reusable attachment that can be fit into the glass while drinking and one can drink without eventually touching it.
Gross Profit and Sales of Sippline Drinking Shield
The company’s valuation is cr 5 crore rupees. The sales is 1200 units till date. They are lagging behind in creating awareness, marketing and some issues with sales guys.
Asks by the Pitchers: Pitchers approach with a ask of 75 lakhs rupees for 15% equity of the company.
Counter offers Sippline Drinking Shield
All the sharks became furious as this was a product of no use according to them. Ashneer Grover advised him about what to do. Just after the asking for investment Aman and Ashneer stepped out of the deal. After that Anupam, Vineeta and Namita stepped out of the deal.
Final Offer for Sippline Drinking Shield
No deal was finalised.
2. Kabaddi Adda
- Owners: Arvind Sivdas and Suhail Chandhok, co-founders of the company.
About Kabaddi Adda
Kabaddi is a 4000 years old game where only a field and group of players are needed. This is the game of India. This kabaddi rolls back with a new dash where 50 crores of Indians are enjoying this sport in this era.The company wants to bring kabaddi action on every screen on every day.
The 3 pillars of their business model are:
- Content and distribution platform includes website and social media handles. They have over 1.5 crore viewers and more than 5.5 lakhs of subscribers.
- Tournament in a box: They telecast the local kabaddi matches and increase the views of the matches and generate revenue from these matches.
- Their very own tournament K7 tournament: They are like an academy. They organise a list A career tournament where players all over India showcase their skills and this year 20 players have got a chance to play in PRO Kabaddi league.
Gross Profit and Sales Kabaddi Adda
The company’s valuation is cr 80 crore rupees. The revenue generated in the FY19-20 is 24 lakhs rupees, in FY20-21 it was 57 lakhs rupees, this year till date it is 1.2 crore rupees and projected for this financial year is 2.5 crore rupees. For the next year they have signed media and sponsored rights for 12-15 crore rupees. The gross margin is about 80% and net margin is 30-40%. The revenue is generated mainly from media sponsors and fantasy sponsors. The company has raised an investment of 20 crore from C Capitals.
Asks by the Pitchers of Kabaddi Adda
Pitchers approach with a ask of 80 lakhs rupees for 1% equity of the company.
Counter offers for Kabaddi Adda
Namita Thapar found herself interested in this venture and counter offered 80 lakhs rupees in exchange for 5% equity in the company. Anupam was out of the deal. Ashneer and Aman stepped out of the deal. Vineeta and Namita jointly counter offer 80 lakhs rupees in exchange for 6% equity in the company.
Pitchers counter offer 1.2 crore in exchange of 5% equity in the company.
Final Offer for Kabaddi Adda
The final deal was done by Namita and Vineeta jointly for 1 crore in exchange for 6% equity in the company.
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3. Shades of Spring (SOS)
- Owners: Nidhi Gupta and Anuj Bhagat are the founders.
They are from Bangalore. They met each other on Shaadi.com.
About Shades of Spring
From ancient times, flower gifting has been a popular choice for gifting, be it any occasion,festival, marriages, or expression of emotions. Global gifting is of 50 lakhs crores and flowers are the main anchor product there. Their company provides their customers with 300 varieties of flowers. Their flagship product is DIY flower subscription box which they will innovate in 2019, where customers get flowers with 48-72 hrs of harvest from farm to doorstep and remain fresh in house for 7 days. This box is available at ₹350 at delivery.
Gross Profit and Sales of Shades of Spring
The company’s valuation is 300cr. Their this year revenue is 9cr, last year revenue was 2.5cr, and first year their sales were 50 lakhs. Their gross margin is 29%. Their 75% revenue comes from Bangalore. Their 50% revenue comes from their subscription. From subscription their margin is 20% and from bouquets, their margin is 40%.
Asks by the Pitchers of Shades of Spring
Pitchers approach with a ask of 3cr for 1% equity of the company
Final offer for Shades of Spring
All the sharks stepped out and no final deal was done.
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- Owners: Mayank Parekh is the founder.
Mayank is 30 years old and comes from Bangalore.
Mayank found that there is a gap between students and the scholarship available in the country. There is a solution needed for this. CSR is booming in the country and he saw an opportunity here and launched Scolify. It is a platform where students are matched with their fitted scholarship with 3 steps. There are children who are unaware about this and can apply for scholarships of their interest from this app. From last year,they have registered around 7.5 lakhs students. Their mission is to make a unicorn company. They provide scholarships to 2200 students in one year. He started this 3 years back.
Gross Profit and Sales of Scholify
The company’s valuation is 6.67 cr. They have introduced a subscription fee for students with economical charges. They conduct a scholarship test quarterly for subscription students and this holds 75% of the revenue.
Asks by the Pitcher of Scholify
Pitchers approach with a ask of 50 lakhs for 7.5% equity of the company
Final offer for Scholify
All the sharks stepped out and no final deal was done.
Shark Lesson of the Day
Shark Ashneer gave a lesson on the importance of execution. Execution comes above strategy and honesty. Market always informs you about the business. If you don’t pay attention to that execution you will face losses. Execution is the differentiator. Only strategy will not help.