Stage Shark Tank India Season 2, Hariyana OTT Platform
Shark Tank India season 2 Stage Haryanvi OTT platform became shark Tank India’s popular pitch till now.
|Founders||Parveen Singhal, Vinay Singhal and Shashank Vaishnav|
|Ask||3 crores for 1% equity|
Stage OTT Platform Founders
This is India’s first ott platform with different dialects. Here one can get films and web series in different languages. There are more than 19000 dialects in India. initially started content in the Haryanvi dialect and within a short time a local movie industry was made there. One of the biggest achievements of STAGE is that more than 1000 local Haryanvi artists got work. And along with these Haryanvi actors they made more than 300 hours of original content in Haryanvi and Rajasthani. Currently, they have more than 1.3 lakh paid subscribers in Haryana. The subscription fee is 400 per year and 3 months before this started to make Rajasthani content and identified 30 dialects to launch in upcoming years. The company was launched on 1 November 2019. They called STAGE Netflix of dialects. The platform provides 100% original content with local content, local artists, and local audience. There are 6 to 8 episodes for the web series and each episode is of 25 to 30 minutes. The cost of making each movie or web series is 20 lacs.
Ask by the pitcher’s STAGE
The pitchers made an ask of 3 crores for 1% equity of the company at the valuation of 300 crores.
Other Information about the Company
Their business model works on subscriptions. Currently, their paid subscriber is 100000 30000, and week 4 retention is 94%. The average monthly watch time is 4.5 hours. Previously they raised 10 crores in 2020 with a pre-money of 65 crores. They raised 20 crores in 2021 with a pre-money of 80 crores and they raised 3rd time in 2022, 36 crores with a pre-money of 250 crores. In FY 21 to 22 the sales were 3.85 crores and the current monthly sales are 25 lacs. Their CAC is ₹270. Around 10% of people come organically. Their monthly burn is 1.1 crores out of which 60 lakh is spent on content and 20 lahks spent on the team and the other 10 lahks spent on miscellaneous work.
Offers and Counter Offer
Vineeta and Anupam stepped out of the deal because of the higher valuation.
Aman, Namita, and Piyush give an offer of 1.5 crores for 0.6% equity and 1.5 crores debt at 18% interest at a valuation of ₹250 crores.
Final deal of STAGE
The final deal was closed with Aman Namita and Piyush with 1.5 crores for 0.6% equity and 1.5 crores debt 18% interest rate at the valuation of 250 crores.