Shark Tank India 2: Primebook co-founder says they did not want an all-shark deal. Here’s why

“After the first season, we realised how it could benefit us to partner with the sharks. That was our major reason to be on the show. We realised that if someone like Peyush and Aman could join us, it could add so much more validation to our brand, and more people could believe in us,” he shared.

Shark Tank India 2 pitchers interviews: Recode’s Dheeraj Bansal | Stage’s Vinay Singhal | Team Patil Kaki | Flatheads’ Ganesh Balakrishnan

Given Chitranshu named the two ‘sharks’ who they eventually managed to get on-board, we wondered if the duo were there on their wish list from the start. Agreeing to the same, he shared that Peyush is a tech guy and understands supply chain, and they wanted to benefit from that expertise. On the other hand, Aman is a business person who aces consumer economics, especially when it comes to electronic products. “Glad that we could get them,” he said.

They were the first pitch that could have gotten an all-shark deal given each one of them was interested in investing in the brand. However, the CEO mentioned that they weren’t too keen for the same. He said, “Honestly that was not our agenda. Having five partners would have led to a lot of confusion in the boardroom. We are already four and we were not really gung-ho about getting all of them together.”

Apart from Chitranshu Mahant, other co-founders of Primebook are Aman Verma (CMO), Umang Leekha (CTO) and Pankaj Rawat (Business Head).

In the episode, Peyush Bansal had mentioned ordering 8000 units from them for his Lenskart stores. However, Chitranshu said that he got to know about the same only after watching the episode. However, he did add that he is in talks with his team and they are working on something.

While Shark Tank India continues to win hearts, many often question its credibility. Sharing that he too has received feedback asking whether the show is fake, the businessman said, “People ask if it’s scripted and I must share that you can just plan the first two minutes of your pitch. Everything else is organic after that. Also, the conversation is exactly similar to what would happen in any investment meeting. We were not paused, prompted or directed; everything was real.”

Primebook co-founders on Shark Tank India 2.

On a lighter note, Chitranshu Mahant shared how after the episode, his parents finally got to know what he exactly does for a living. “They did not understand valuation and wondered why people gave us money. We come from a small town and for them business means having a dukaan (store). That’s what they have seen but were always clear that profit banao.”

The team now wants to take Primebook to more and more people and is planning for a flash sale in March of 10,000 units. Sharing that they are already sold out, Chitranshu added that like Namita Thapar mentioned, they are also working towards bringing the cost down, so that more people could avail the product.

On a final note, Chitranshu Mahant said that there is an added responsibility now on them to answer all incoming requirements. He shared that he doesn’t want an automated conversation and is working towards scaling up technically. The pitcher added that the team is also planning to partner with telcos and content providers and work on brand integration.

Shark Tank India 2 airs on Sony TV on weekdays, and also streams on SonyLIV.