The popular business reality show Shark Tank India has been a beacon of inspiration since the premiere of its first season. The show is back with its fourth season, which is expected to be as impactful as ever. The previous panel of judges featured leading faces from the business world, like Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh and Peyush Bansal, who have left a lasting impression with their business acumen and success stories.
The OG sharks are mostly seen in a good mood on the show and have a temperament where they try their best to invest in good deals and negotiate, but this time Aman lost his cool. The BOAT founder rarely snaps out in the middle of a deal, so what just happened that forced Aman to flip?
Two young entrepreneurs, Devansh and Akshay, pitched their online peer-to-peer platform named Culture Circle to the panel of ‘sharks’ in the second episode of the business reality show. Their pitch was quoted as interesting, and the 'sharks' looked interested in their pitch. The entrepreneur duo asked for an investment of Rs 1.2 crore in exchange for 0.5% equity for a whopping valuation of Rs 240 crore. Aman snapped at them, saying “hum paagal hain kya' and even Vineeta told them that their evaluation was ‘waahiyat’ Vineeta claimed that the duo was in the show just for marketing, in her words:
“I’m finding it impossible to believe that you’ve come here with the intention to make a deal. You’re here for free marketing and no-deal scenario, which would be a win-win for you.”
Although Vineeta was sceptical of the deal, Aman and the other investors were interested in the company and offered their bets. Kunal made a staggering offer of Rs. 8 crore, but asked for 10% equity, while Ritesh and Aman also presented their whopping offers. Namita showed interest as well, but was determined to get a royalty. Devansh and Ackshay were talking about who to opt for, during which Devansh said, “Air ho jayega (This will air).” Everybody heard him, and Aman was furious and accused the duo of using the show just for promotion. The duo closed the deal, but Aman was furious over them.
In an interview with Bhanu Pathak, Amit Jain reassured the audience that the business deals in the show are indeed hundred per cent real. However, he also disclosed that the cheques given out in the show are purely for show, they are fake. When asked if they sponsor or give out money to the pitchers on the show, Amit Jain clarified:
“Woh cheque toh nakli hote hai bhai!”
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The investor further added that the cheques in the show are specially made for the episodes and are not actual ones linked to the investor’s bank account. The cheques are custom-made with the investor’s company name, and details are mere props in the show. Amit Jain added:
“Woh symbolic cheque hote hai. It’s not linked to my account. It has the format made by Shark Tank. It’s personalised, the company name is there, my signature, my amount but not my bank account! The cheque signifies that a deal has happened. Then the due diligence happens, papers are called, whatever you said on the show will be verified.”
Let us know your views on Aman and Vineeta decoding the duo's marketing strategy.
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