Shark Tank India 3: Peyush Bansal offers to buy founder’s Rs 133 cr company for Rs 15 cr, leaves Aman Gupta shocked

Shark Tank India 3: A recent episode of Shark Tank India saw Peyush Bansal trying to buy a company that was valued at Rs 133 crore for Rs 15 crore.

Peyush Bansal and Aman Gupta in Shark Tank India 3.

A recent episode of Shark Tank India saw three founders coming up with something that could be described as a ‘magic mirror’. Their ‘Beauty GPT’ and AI technology impressed investor Vineeta Singh but despite being not very impressed with the business model of this company, it was investor Peyush Bansal who was ready to buy the company from the founders. The ‘magic mirror’ here is something that is seen on platforms like Nykaa or Lenskart where the customers can try products virtually before buying them. This company’s products are physical so they could be installed in stores.

The company named Orbo AI came in to ask for Rs 1 crore for a 0.75% stake in the business at Rs 133.33 cr valuation. As Vineeta tried their magic mirror, she was thoroughly impressed with it but gave a due disclaimer that her company Sugar Cosmetics was actually in conversation with them to lease out their mirrors. Peyush also tried this on and was quite impressed with the technology they were offering.

As the founders declared that they had raised Rs 26 crore till date, Anupam Mittal exclaimed, “Aap paise raise karne mein awwal number ho (You are too good at raising money).” Most sharks were not interested in the business given its current economic state but Vineeta presented them with a conditional offer. She gave them an offer of Rs 1 crore for 1% of the company, if they get the term sheet of Rs 3 million that was still in the works.

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This is when Peyush raised the stake. He offered to buy the majority stake of 51% in the company for Rs 15 crore. Aman found this offer quite bizarre as he repeated multiple times, “Company thode bech sakte hain aise 10 minutes mein (They can’t sell their company in 10 minutes).” After some thought, the founders were ready to make a deal with Peyush but wanted Rs 35 crore for 51% but Peyush refused the deal. The founders then accepted Vineeta’s offer.

Shark Tank India is currently in its third season. The show streams on Sony LIV.

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