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Even Kunal Bahl, who rarely makes offers on Shark Tank India, agreed to meet a couple of pitchers’ terms without any negotiations on the latest episode of the show. Along with the other ‘sharks’, he was so impressed with the founders’ toy business, Clapstore, that he simply wanted to get in on it. Vedang and Yash, from Maharashtra, pitched their unique ‘busy board’ toys on Shark Tank India, and claimed that they can help reduce young kids’ screen time massively. They backed their innovative products up with incredible sales of Rs 2.4 crore in the first year.
Vineeta Singh was wowed when they said that they are aiming for Rs 6 crore in revenue this year, and are making nearly 20% in profits. Peyush Bansal predicted that they could become the next LEGO if they play their cards right. All the ‘sharks’ were very impressed by the founders, who, at 21 and 22 years old, didn’t even have children themselves. “But you’ve understood the market minutely,” Vineeta remarked. The brothers asked for Rs 80 lakh in investment, in exchange of 4% equity, valuing their company at Rs 20 crore. Anupam was incredibly impressed when the founders revealed that they don’t even pay influencers to market their products, and use a barter system instead. “Good one, man, acha crack kiya hai,” he said.
As if the ‘sharks’ were impressed enough already, their excitement went through the roof when the founders said that they’ve already secured investment from the likes of Nikhil Kamath and Raj Shamani. Aman Gupta and Anupam Mittal decided to partner up, and offered the founders Rs 80 lakh in exchange of 7% equity, while Peyush was so interested in becoming a part of the company that he agreed to meet their terms without any negotiations. Kunal Bahl, on the other hand, said, “What offer would make you happy?” This was essentially a ‘name your price’ situation, which is rarely, if ever, seen on the show.
He agreed to meet their terms as well. Sensing interest from all the ‘sharks’, the founders asked if all of them would be willing to join hands for an offer. Kunal asked them to leave the room for a moment, as they discussed the terms among themselves. It was a reverse of what usually happens on the show, when founders ask for a moment alone to discuss details. The ‘sharks’ agreed to make an all-shark deal, and offered the founders Rs 1 crore in exchange of 10% equity, which the founders agreed to.
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