Why Shark Tank India's Aman Gupta Rejected A Startup Once Praised By PM Modi
Its been three weeks since Shark Tank India's season three kickstarted. With the biggest panel of 12 judges featuring in this season, stakes and emotions both are high, with the most recent episode becoming another display of the same. And this time, a startup which was once praised by PM Modi got featured on the show.
Its been three weeks since Shark Tank India's season three kickstarted. With the biggest panel of 12 judges featuring in this season, stakes and emotions both are high, with the most recent episode becoming another display of the same. And this time, a startup which was once praised by PM Modi got featured on the show.
Startup Praised By PM Modi Gets Featured On Shark Tank India
daak room/instagram
Emotions were high in the recent episode of Shark Tank India when all the judges received touching letters from their loved ones. Daak Room, a startup that promotes physical writing through its products and campaigns, was highlighted in the pitch. Following a detailed discussion of their enterprise, the founders requested a 4% stake in exchange for Rs 36 lakh.
The entrepreneurs went into further detail about their goals and why they decided to start the company, citing support from a number of well-known people, including India's Prime Minister, Narendra Modi. They claimed that PM Modi had also given them encouragement in the form of a letter praising Daak Room's efforts and recognizing their role in uplifting the younger generation and nation-building.
Also Read: From Sugar To Zomato: Most Shark Tank India Season 3's Judges Are In Losses
Sharks That Were Not Impressed With The Startup
daakroom shark tank/sonyliv
With the exception of Aman Gupta and Peyush Bansal, the sharks were impressed by the pitch and moved by its originality. Aman Gupta did not invest in the startup, and said, ¡°This used to happen in very old times. It¡¯s not a business. I am out because I don¡¯t have the same passion for writing like you guys, so I won¡¯t be able to add more value.¡±
On the other hand, Peyush Bansal said, ¡°I am not able to understand what your exact service that is being offered is, and what your revenue model is.¡± Peyush then advised the founders to transform Daak Room into a stationary brand, and Vineeta also agreed with him.
Vineeta Singh and Ritesh Agarwal made offers, but Radhika Gupta and Aman chose not to participate.
Ritesh Agarwal Ends Up Investing Rs 36 Lakh In The Startup
shark tank india daak room ritesh agarwal/instagram
In the end, the founders of Daak Room and Oyo CEO Ritesh
Agarwal
came to an agreement in which the founders would receive a 6% stake in exchange for Rs 36 lakh; if they met their revenue targets, the stake would drop to 5%.
Panel Of 12 Judges For Shark Tank India Season 3
For the unversed, Shark Tank India season 3 features a panel of 12 judges, including Anupam Mittal, Namita Thapar, Peyush Bansal, Aman Gupta, Amit Jain, Vineeta Singh, Deepinder Goyal, Azhar Iqubal,Ritesh Agarwal, Radhika Gupta, Varun Dua, and Ronnie Screwvala.
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