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Anupam Mittal stops heartbroken 20-year-old Shark Tank India pitcher from leaving empty-handed, reverses decision because of last-minute crisis of conscience

Shark Tank India 4: A young entrepreneur was about to leave heartbroken, but was stopped by Anupam Mittal, who offered him a 'dream deal'.

shark tank india 63Anupam Mittal and Namita Thapar on Shark Tank India 4.

Sanjay, a 20-year-old entrepreneur from a small town in Rajasthan pitched his used books buying and selling platform, NearBook, on the latest episode of Shark Tank India. Sanjay said that his father, a failed entrepreneur, has given him a six-month deadline to make his business work, or else start working at a job. He said that his father was duped in Mumbai, as he made multiple attempts to start businesses. Sanjay’s father also tried his hand at acting and singing, but didn’t make it. He ultimately turned to farming, and is now working in Chennai. But, Sanjay said, he inherited some of his father eccentricities, as he asked for Rs 40 lakh in exchange of 20% equity, valuing his business at Rs 2 crore.

He said that his platform can be used by buyers and sellers to list used books, and that he eventually wants to start earning via advertising. He also revealed that he has a mystery benefactor who has invested Rs 6 lakh in his business. When the panel of ‘sharks’ asked him who this benefactor was, Sanjay said that he cannot reveal his identity because the benefactor moonlights for him. He also revealed that he has never actually met this person, which left the ‘sharks’ surprised.

Also read – Shark Tank India pitcher met wife on Shaadi.com, took her away to live in a village with him for 2 years: ‘It was an extended honeymoon’

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Anupam Mittal praised his grit, but said that the classifieds industry has gotten the better of many entrepreneurs. He also brought up Amazon, and said that they can easily take over the market if they want. For these reasons, he backed out of the deal. Namita Thapar agreed with Anupam’s points, and said that there might not be a market for classifieds anymore. But Vineeta Singh disagreed. She said that Indians are hesitant about throwing away used books, because they view them as Saraswati. That being said, she didn’t invest in Sanjay’s business. Ritesh Agarwal praised Sanjay’s determination to succeed, and offered offline mentorship, but didn’t invest either. Finally, Kunal Bahl backed out as well, citing the issue of trust.

Just as Sanjay was about to leave empty-handed, Anupam spoke up. “Mujhe bechaini ho rahi hai,” he said. “When I was your age, I didn’t have a mentor to tell me how to run a business. I think you need a real mentor, because your stubbornness is a quality. And I would be betraying my beliefs if I don’t support a boy who reminds me of myself. I’m going to give you your dream deal. If not this, we’ll build something else,” he said.

Anupam offered Sanjay the Rs 40 lakh that he asked for, leaving the young entrepreneur emotional. “I would’ve had sleepless nights if I didn’t make you a deal,” Anupam told him, handing over a cheque.

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