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Anupam Mittal reveals Shark Tank India secret: 'The cheque you see on TV isn’t the final deal'
Anupam Mittal breaks down how Shark Tank India deals work, clarifying myths about cheques, due diligence, and what it takes for entrepreneurs to secure investment.
Anupam Mittal, the founder of Shaadi.com and a prominent investor on Shark Tank India, recently addressed a prevalent misconception about the show's investment process. In an exclusive interview with Pinkvilla, Mittal clarified that receiving a cheque on the show does not immediately finalize the investment.
What happens after the show?
Anupam Mittal explained that the time constraints during the pitch session, typically around 15 minutes per entrepreneur, limit the depth of due diligence. He stated that the real evaluation begins post-filming, where thorough checks are conducted. "After the shoot, we do diligence. Aur agar 5-10% ka farak hain numbers mein, that's no big deal, lekin agar aapne outright jhooth kaha hain, then obviously you will fail the diligence," he stated.
He further likened the cheque presented on the show to a non-binding term sheet in venture capital deals. "That means the deal is done, even in the real world, forget Shark Tank, jab VC invest karta hain, term sheet deta hain, that is the equivalent of the cheque that we give on the tank. The term sheet always says, non-binding term sheet, yaha pe matlab I'm not obligated to you. So this is also a non-binding cheque, matlab iske baad diligence hoga aur diligence mein agar fail hogaye toh obviously deal is off," Mittal elaborated.
Mittal has previously addressed several myths surrounding Shark Tank India. He clarified that the show is not scripted, the sharks invest their own money, and they do not receive cheat sheets about the founders.
Anupam Mittal is a seasoned entrepreneur and investor with over two decades of experience in the Indian startup ecosystem. He is the founder and CEO of People Group, which owns Shaadi.com, one of India's leading matrimonial platforms. Beyond his entrepreneurial ventures, Mittal has invested in over 250 startups, including notable companies like Ola and BigBasket.
