Shark Tank India: Aman Gupta, Ashneer Grover, Vineeta Singh team up to avoid bidding-war, offer more than what was asked. Watch pitch here

Shark Tank India investors Ashneer Grover, Vineeta Singh and Aman Gupta were so impressed by an entrepreneur's frozen momos, they decided to join forces in support of her business.

By: Entertainment Desk

New Delhi | February 2, 2022 11:29 AM IST

2 min read

Aman Gupta is one of the 'sharks' on Shark Tank India. (Photo: Sony Entertainment Television/YouTube)

In a heart-warming pitch on Shark Tank India, a Darjeeling woman with a frozen momo business, impressed the entire panel with her product and her demeanour, prompting three ‘sharks’ to express interest in investing in her business.

Describing herself as the ‘Momo Mami’ of Delhi, the entrepreneur asked for Rs 50 lakh as investment, in exchange of 5% equity in her business. She first gave a demo of her frozen momos, which impressed the sharks tremendously.

Also read | Shark Tank India’s Anupam Mittal admits he was offended by Ashneer Grover’s ‘harsh’ comments about him: ‘Anyone can buy ads’

Ashneer Grover, the co-founder of BharatPe, kicked things off with an offer of Rs 50 lakh, but asked for 7% equity. He said that his offer will immediately go off the table if the entrepreneur shops around for other offers. Anupam Mittal, the co-founder of Shaadi.com, and Namita Thapar, the executive director of Emcure Pharmaceuticals, dropped out, citing different reasons.

Vineeta Singh, the co-founder of Sugar Cosmetics, offered the entrepreneur Rs 50 lakh, but asked for 20% in equity. The entrepreneur turned down the offer. Aman Gupta, the co-founder of boAt, silently consulted with Ashneer in the background, and offered to collaborate with him in offering the Rs 50 lakh that the entrepreneur was asking for, in exchange of 12% equity.

After consulting with her co-founders, the entrepreneur countered with two options–Rs 50 lakh for 10% equity or Rs 75 lakh for 12%. Ashneer told her not to get greedy, but in the meantime, Vineeta said that she’d want to put Rs 25 lakh into the fold as well. The entrepreneur had to decide between two offers–Rs 50 lakh for 12% or Rs 75 lakh for 16%. After briefly consulting with her co-founders again, Momo Mami agreed to the second offer, and left with three cheques in her hand.

When asked why she took the second offer, she said that as a woman, she wanted to have another woman involved in her business. Vineeta rushed over and gave her a hug.

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