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Shark Tank India’s investors have promised crores of rupees to contestants on the show but after the show gets over, most of the deals don’t materialize. In a recent interview, Namita Thapar, who is one of the ‘sharks’ on the Sony LIV show, shared that when they start their “due diligence,” they find there’s a “lack of integrity” on the part of founders who sometimes “ghost” the investors after their deal gets aired on television.
During a chat with YouTube channel Finance with Sharan, Namita shared that the audience is “clueless” about what happens beyond the tank and shared that they must know why a lot of deals don’t go through. “A lot of people are very clueless when it comes to the count of investments because what they don’t realise is when we start doing our due diligence, there are multiple things that… there’s literally a lack of integrity on the part of founders. There are many founders who have ghosted me. There are many founders who, when we do the due diligence, the numbers they quoted at the tank, they are completely off, not just marginally but substantially off,” she shared.
Namita Thapar added that on a lot of occasions, business owners later reveals that they have multiple companies and are not interested in merging them for the deal to go through. “So what people don’t realise is, that they see us giving these offers and then they say ‘you did not do the deal’ but what they don’t realise is that there is a lot of integrity issues, which is why the count goes down substantially. I think this is one thing that whoever is following Shark Tank must be aware of, that there is a margin between what’s revealed at the tank vs what really comes out in the due diligence,” she added.
Vineeta Singh added that after one’s business pitch gets aired on television, the founders sometimes get better deals from other investors and they prefer to take those. “Once they air, they get better deals outside so then they prefer to go with those. I understand where an entrepreneur is coming from, where they are optimising for valuation, feels unfair… but you have to… I mean that’s the rule of the game,” Vineeta said.
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