Shark Tank India entrepreneurs rejected rare all-shark offer, left Vineeta Singh displeased as Anupam Mittal tore the cheque. Watch

The entrepreneurs asked for some time to deliberate, and left the room while the sharks said that the cheques would be ready by the time they return. Outside, the two entrepreneurs discussed the merits of the offer, and came to the conclusion that it would not work for them, as it reduced the company’s valuation to what it was over two years ago.

They returned to the room, and told the sharks that they would have to decline the offer, as their revenue had quadrupled against the multiple that they’d been offered. They countered with an ask of Rs 1.5 crore, against 1% equity.

Vineeta wasn’t pleased. “You deliberated for three minutes and reduced Rs 10 crore stake on a Rs 160 crore valuation? You’re insulting us now.” Anupam said, “All you wanted was promotion and a surrogate from Shark Tank, nothing else. You’ve done that, congratulations.” Ashneer agreed. He said, “Anupam is right, all you wanted was an offer from five people, not money.” Peyush said that even if they were to offer 2.5% equity, he’d still be out. Vineeta wished them the best of luck, while Anupam tore up the cheque that he’d signed.