Click here to follow Screen Digital on YouTube and stay updated with the latest from the world of cinema.
Shark Tank India, which is currently in its fourth season, recently saw a team of founders who pitched their skateboard brand. Ravinder and Jaspreet asked for Rs 50 lakh in exchange for 2 percent of their business, valuing it at Rs 25 crore. As their demonstration started, Anupam almost jumped in his seat when he saw boys performing tricks with their skateboards. Anupam asked Ravinder if he had been on the show before because he looked like one of the former ‘sharks’. Namita joined in and shared she felt the same. While they didn’t name Ashneer Grover, who was on the first season of the show, they heavily implied Ravinder looked like him. Ravinder and Jaspreet agreed and shared that they had heard similar things before. Namita complimented his pleasant personality. “Aapki personality bilkul alag hai,” she said.
The couple revealed that they also had a manufacturing unit in China, where they make skateboards for many international brands. But they came on the show to seek funding for their Indian brand as they believe that the skateboarding culture in India is growing at a rapid rate. They insisted that their skateboards were reasonably priced for the Indian market, which they revealed could grow up to Rs 50 crore in the current climate.
This puzzled Anupam Mittal, as he quizzed the founders even more and found out that they were making at least Rs 15-20 crore from their factory in China. He wondered why they were so enthusiastic about addressing a market that was fairly small in comparison to their current business. Namita Thapar found their energy level to be “infectious” but backed out of the deal. Viraj Bahl suggested that they should not bring in an investor at this point and work on their company as a “passion project.”
Anupam appreciated their “authenticity” and offered them a deal for Rs 50 lakh in exchange for 5 percent of the business, along with a royalty component. Aman also got involved and eventually offered the same deal. The founders thought about it but were certain that they did not want to give any royalty. They did not get a deal.
Click here to follow Screen Digital on YouTube and stay updated with the latest from the world of cinema.