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A Shark Tank India entrepreneur’s pitch for her organic tea brand initiated an ideological debate between the sharks, in a new clip from the reality show shared by Sony Entertainment Television on YouTube. Some, like Anupam Mittal and Vineeta Singh weren’t buying the science behind the entrepreneur’s claims, while others like Aman Gupta said that the benefits of ayurvedic medicine cannot be proven through scientific methods.
The entrepreneur was asking for Rs 1 crore investment on her brand, in exchange for 5% equity. Immediately, several sharks had questions for her. Peyush Bansal asked if the entrepreneur wants to highlight the medicinal benefits of her product over the taste, and the entrepreneur said that she does, without a doubt.
Vineeta Singh asked the entrepreneur if she is claiming that her product can fix irregular menstrual cycles and cure PCOD, the entrepreneur said that it could. Anupam wanted proof, but the entrepreneur said that the only proof she has is customer testimonials. Vineeta and Anupam said that this isn’t enough, but Aman sided with the entrepreneur, and praised the entrepreneur’s ‘passion, style, attitude and confidence’.
Vineeta also said that she is impressed by the entrepreneur’s passion, but has a problem with the ‘jhoot’ that she told about her product. Nevertheless, she partnered up with Anupam to invest in the company. Together, they offered the entrepreneur Rs 50 lakh as a loan, and an additional Rs 50 lakh in exchange of 30% equity. After consulting with Ashneer, Aman entered a bidding war, and offered the entrepreneur Rs 50 lakh as loan, but said that he has no intention of stealing from the entrepreneur. To that effect, he asked for 15% equity.
The entrepreneur said that she wasn’t willing to go for a valuation below Rs 12 crore, as she has another interested party. Anupam wasn’t pleased with the withholding of information. Aman put forward his final, non-negotiable offer: Rs 50 lakh as loan, and an additional Rs 50 lakh in exchange of 10% equity. All the sharks encouraged her to take the deal, which would put her company’s valuation at Rs 5 crore. She had another counter-offer, but Aman said that while he appreciates her instinct, she shouldn’t be ‘penny-wise pound foolish’.
The entrepreneur asked for a minute to think it over, and Anupam praised her for being the real shark in the room. She returned and accepted Aman’s offer, and was hailed by the sharks for making a ‘good decision’.
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