Aman Gupta takes a dig at Anupam Mittal after he flaunts his 5 million-user database: ‘Lehenge thodi bikenge iss par’

Speaking about his journey, Aseem, who studied chemical engineering at IIT Delhi, shared that he has been working in the AI space for the past eight years. He also revealed that prior to Unstudio, he had founded a startup called Strive, which offered live, interactive, cohort-based courses. Anupam Mittal was an investor in the venture; however, Aseem later exited due to differences in vision.

Also Read: Aman Gupta snaps at Kunal Bahl on Shark Tank India, says ‘don’t make decisions on my behalf’: ‘I’m fine alone’

For Twin, Aseem appeared on Shark Tank India 5 seeking an investment of Rs 60 lakh for 1 per cent equity, valuing the company at Rs 60 crore. After trying the app, Aman Gupta was visibly impressed and praised Aseem, saying, “Damn neat, good stuff. Outstanding.” While Kunal Bahl expressed some concerns, Kanika Tekriwal appreciated the concept. She said, “Its a great thought, especially from a woman’s perspective.”

During the pitch, the founder mentioned that they launched their app a few months back, and many users often take these stylized pictures to upload on dating apps. Following this, Kunal Bahl and Mohit Yadav expressed concern over how the idea could be a good feature as try on, but not a great business model. Kunal also pointed out, “You might need to tie up with thousands of brands.” Just then, Aseem shared that they had already signed contracts with 25 Indian brands.

Aman Gupta took a dig at Anupam Mittal

Kunal and Mohit didn’t seem very convinced, and they expressed their concerns as they exited the negotiations. Kunal said, “Kya yeh sirf paise kharchne ka khel hai? What are you going to do create growth? A company cannot be made on hopes and wishes. You are a great founder, technically you’re brilliant, you are a product visionary, but an affiliate model is very hard to make money from. I think it’s a good feature, but not a good business, so I am out.”

Mohit also shared his view, “I think it’s a great product, but it’s too early for the product in terms of building a marketplace, so I will be out.”

Aman was the first one to make an offer. He said, “I like your app, aap ke andar kuch dum hai. You are a crazy founder, and I love that, so I offer you Rs 60 lakhs for 3 percent.” Anupam also shared his offer and said, “I would like to offer you Rs 68 lakhs for 2 percent, it’s a fair deal, and I can help you a lot. I understand this space, and what I like most about you is your intellectual honesty and transparency.” Kanika also joined in, giving the same offer as Anupam. “I love the product, I don’t know about the future, but I see myself using this, and I invest in businesses which I know I would use,” she added.

As the negotiations got intense, the founder said he wanted to place the company valuation at Rs 40 crore. Soon, Anupam revised his offer to Rs 80 lakhs for 2 percent. Aman and Kanika matched it too. Just then, Aman said, “I have AI knowledge, and how to bring users is something you know.” Anupam argued, “We have the biggest user database, it’s more than 5 million.” Taunting Anupam, Aman said, “Shaadi ka database thodi chahiye hai, lehenge thodi bikenge iss par (No one needs a database for weddings, bridal outfits won’t be sold on the app).”

While the founder eventually chose Aman Gupta’s offer, he told Anupam, “I was very excited to work with you again, but I know you will help me just like that.” A disappointed Anupam said, “How will I help you, if you don’t take the deal?”