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Aman Gupta refuses to make an offer for competitor’s headphones company, asks them to license technology for his own business

Aman Gupta did not make an offer when a company presented their headphones business but asked them to license their technology for his premium headphones.

Aman Gupta on Shark Tank India.

Shark Tank India Season 4 recently saw two entrepreneurs present their company that sells headphones and is trying to make a business in experiential sound. Sonic Lamb founders Jagath Biddappa and Navajith Karkera said that their unique technology actually enables the user to experience the sound, instead of just hearing it. The technology allows one’s body to feel the vibrations of the music, a technology that does not exist with any other company in the world. The founders asked for Rs 50 lakh in exchange of 1 per cent of the company, valuing it Rs 50 crore.

The ‘sharks’ were instantly impressed with the packaging of the product but Namita Thapar was the first one to address the elephant in the room as she asked the founders to compare their products to Aman Gupta’s boAt products. While the founder said that their differentiator is the “audio quality and the experience”, the price difference also came up. Sonic Lamb founders shared that their product is priced at Rs 17,999 compared to a similar product by boAt which sells at Rs 2,000-Rs 2,500.

As the founders expanded on the economics of their business and revealed the two rounds of funding, along with the grant they received when they started the business, Anupam Mittal declared that they were in a tough spot financially. The founders also explained that they were trying to build two sides of the same business. One was the headphones business which was aimed at consumers directly, and the other was the experiential sound business that they are hoping to license to car manufacturers.

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Aman Gupta told the founders to contact his business as they could license the technology in their premium headphones, but he refused to invest in the business. Anupam Mittal and Vineeta Singh both made offers but each wanted the founders to pick a different lane, and had many caveats for the deal to go through. Peyush Bansal also made an offer as he praised their “phenomenal” product. Peyush offered them a deal that included placing their products in international stores of Lenskart so the product gets global recognition. He also showed an interest in using their technology in his new line of smart eyewear. Peyush locked the deal with them for Rs 50 lakh in exchange for 1 per cent equity and 1 per cent advisory shares.

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