The third season of the reality television show Shark Tank India recently premiered with six new ‘sharks’. In the latest episode, all the judges received heartfelt letters from their loved ones, stirring up emotions in the room. The pitch featured Daak Room, a company promoting physical writing through their campaigns and products. After a thorough discussion about their business, the founders asked Rs 36 lakh for a 4% stake. The founders elaborated on their plans, and their motivation for entering the business, citing response from various celebrities. They said that they also received encouragement from none other than the Prime Minister of India, Narendra Modi, who wrote a letter to them, appreciating the efforts of Daak Room and acknowledging their contribution to nation-building and inspiring the younger generation. Impressed by the pitch, the sharks were moved by its uniqueness, except Aman Gupta and Peyush Bansal. Aman said, “This used to happen in very old times. It’s not a business. I am out because I don't have the same passion for writing like you guys, so I won’t be able to add more value.” Piyush added, “I am not able to understand what your exact service that is being offered is, and what your revenue model is.” Peyush then advised the founders to transform Daak Room into a stationary brand, and Vineeta also agreed with him. View this post on Instagram A post shared by Daakroom (@daakroom) While Radhika Gupta and Aman opted out, Vineeta Singh and Ritesh Agarwal made offers. Eventually, the founders struck a deal with Ritesh for Rs 36 lakh in exchange for a 6% stake, with the condition that if they meet their projected revenue, the stake would be lowered to 5%. This season, the four main judges, Anupam Mittal, Namita Thapar, Peyush, Aman, and Vineeta, are joined by new additions: Deepinder Goyal, Founder and CEO of Zomato; Azhar Iqubal, Co-founder & CEO of Inshorts; Ritesh, Founder & CEO of OYO Rooms; Radhika, MD & CEO of Edelweiss MF; Varun Dua, Founder of ACKO; and Ronnie Screwvala, Co-Founder and Chairperson of UpGrad.
