MUMBAI: Shark Tank India 3, an Indian franchise, is a highly acclaimed business reality show. This show debuted in its first season back in 2021, and its second season debuted in 2023. The public loved both seasons of Shark Tank India, particularly those who were interested in business.
Also read: Exclusive: Shark Tank India season 3 to wrap shooting for the show on December 16?
For those who are unaware, Shark Tank India is a television program in which seasoned businessmen, referred to as "sharks," make decisions on whether or not to fund the ventures or goods that entrepreneurs showcase. However, ever since it premiered, Shark Tank India's current season has drawn a lot of interest.
The latest episode of Shark Tank India 3 got viral due to the'sharks' disbelief at having a well-known haircare brand that is sponsored by Taapsee Pannu, a well-known actress, as pitcher and ultimately closing a deal with them. In front of the brand ambassadors for this well-known haircare line, Taapsee Pannu, Arata faced the sharks on stage.
When Vineeta Singh, co-founder and CEO of Sugar Cosmetics, saw this, she reacted and questioned how such a big company could attend the show. She responded, "Itni badi company, yeh kaise aa sakta hai?" Namita Thapar countered that they had to be on the show to promote it. Namita is cited as saying, "Marketing ke liye, aur kis liye."
Subsequently, Dhurv Madhok and Dhruv Bhasin, the haircare firm's pitchers, gave the sharks a detailed explanation of their objectives and presented their brand. The team said that their goal is to become the top-selling and highest-achieving hair care brand in India. Additionally, they want Rs. 1 crore for 1.25% shares from sharks. Vineeta Singh greeted them and inquired as to whether they had come to the show only for marketing purposes, given that Taapsee Pannu is the brand ambassador and their brand is already well-known.
Vineeta stated, "Your brand is already funded and huge. Taapsee Pannu has been your brand ambassador, so why have you come to Shark Tank? Is it just for marketing because aap deal toh close karne wale ho nahi."
The pitchers went on to say that they sought the sharks' experience and wise capital in order to expand their company. Subsequently, the pitchers were questioned by the sharks regarding the items, costs, and other financial matters. Aman Gupta was startled when the pitchers said they were going with the remaining Rs. 50 lakhs in the bank when he asked them how much money they had left.
He then questioned the pitchers about how they could have raised Rs. 28 crores and still have Rs. 50 lakhs left. Pitchers were also informed by sharks that their company was failing. The pitchers said something is hurting their business even though they have good items.
Following long consideration, Vineeta Singh and Namita Thapar chose to invest in the well-known haircare company, while other sharks withdrew. In an offer to invest Rs. 1 crore with a 2% ownership stake in the brand at a valuation of Rs. 50 crore, Vineeta and Namita made a non-negotiable deal. The two sharks granted the pitchers' request for a slightly reduced ownership, of 1.33 percent and 0.67 percent advisory equality, after they had agreed to the same amount. This completed the deal.
Also read: Shark Tank Season 3 : The Sharks get into a debate as the discuss the interiors of the new season
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Credit- Bollywoodshaadis
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