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Shark Tank India pitchers began dating as 16-year-olds, named their child after their brand; Aman Gupta asks, ‘Why did you get married?’

Shark Tank India 4: Aman Gupta said that Ritesh Agarwal isn't sending the right message into the world by investing in businesses that don't deserve it.

shark tank india 53Aman Gupta on Shark Tank 4.

A married couple pitched their ‘mukhwas’ business on the latest episode of Shark Tank India‘s ongoing fourth season. They seemed to be highly prepared for the pitch, and their innovative products seemed to impress the panel of ‘sharks’. But the judges had some reservations about entering a market that they felt isn’t big enough. The couple, Vishali and Yash, said that they dated for 12 years before tying the knot, and revealed that they have even named their child after their company, Joyspoon. They asked for Rs 40 lakh in exchange of 1.5% equity, valuing their business at Rs 26 crore.

But the ‘sharks’ felt this was too high a valuation. Peyush Bansal said that he is very well aware of the Ahmedabad entrepreneurial ecosystem. He said that the community supports each other very strongly, which sometimes results in inaccurate valuations. The founders said that their revenue is projected to hit Rs 2.5 crore this year, but Peyush felt that this wasn’t high enough to warrant a Rs 26 crore valuation. “I’m out because I’ve seen that khichdi ban jaati hai with too many investors at different valuations and goals,” he said.

Also read – Shark Tank India pitcher who started dating his customer and made her a co-founder calls himself ‘Ludhiane ka Narayana Murthy’

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Namita Thapar said that their muddled goals were giving her second thoughts, and said that she couldn’t join them at such a valuation. Aman Gupta, on the other hand, was initially amused by their love story. “Why did you get married?” he asked curiously, to which Yash replied, “Yeh kaise sawal pooch rahe ho national television pe?” On a more serious note, Aman said that he simply cannot justify the kind of losses they’re making, and backed out of the deal. Yash tried to compel him one last time. “You had four businesses before BoAt, but nobody talks about them. I can make Joyspoon a Rs 1000 crore company with your help,” he said, but Aman didn’t budge.

Anupam Mittal said that he had predicted decades ago that the ‘mukhwas’ market would blow up in India, and that he feels validated to see it happening before his eyes. But he didn’t invest in the company either. Ritesh Agarwal, on the other hand, said that he was reminded of his own 11-year courtship, and was swayed by Yash’s insistence to make an offer. He asked for 2% equity in exchange of Rs 40 lakh, and the founders agreed.

But Ritesh’s deal-making seemed to annoy Aman. “What’s the point of entering this business if you don’t have 10-15%? You’re sending the wrong message out there, that anybody can come on the show and get a deal, kisi ko bhi paise de dete ho,” he said, as Peyush mentioned that Rs 40 lakh isn’t a big deal for Ritesh.

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