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Shark Tank India 3: How pitcher's nerves didn't stop him from sealing the deal
Despite a nervous pitch, Radhika Gupta and Peyush Bansal provided support and engaged in discussions with the pitcher. Read to know more!
In Shark Tank India's third season, numerous entrepreneurs pitched their ideas in various fields such as fashion and food. The show provided them with an opportunity to secure investments from the Sharks and featured a mix of innovative ideas and businesses. In the latest episode of Shark Tank India's third season, entrepreneurs from diverse fields showcased their ideas, but it was Dadasaheb Bhagat who stole the spotlight with his passion for art and innovative digital design software.
Dadasaheb Bhagat's pitch
During the pitch, the entrepreneur became highly nervous, prompting Radhika Gupta to offer him water for comfort. Peyush Bansal encouraged and motivated him to finish his pitch. He sought Rs 1 crore for a 2.5 percent equity stake at a valuation of Rs 40 crore. Following that, the Sharks engaged in a thorough discussion with the pitcher, delving into his product, sales, profits, and the brand's vision.
Sharks dive into discussion
Peyush and Vineeta provided valuable suggestions and advised Dadasaheb to concentrate on product development rather than solely focusing on marketing. Radhika and Aman Gupta expressed considerable admiration for the pitcher’s vision for his company. Vineeta Singh decided to step back from the deal, while Peyush made a conditional offer. He proposed Rs 1 crore for a 10 percent equity stake, coupled with a 2 percent revenue royalty until Rs 2 crore is recouped. On the other hand, both Ritesh and Radhika chose to opt out of the opportunity.
Aman's impressive offer and Dadasaheb's counter
Aman gave an offer as he was highly impressed, offering Rs 1 crore for a 10 percent stake without the royalty. Peyush and Aman come neck to neck with their offers. Dadasaheb counters, proposing Rs 1 crore for a 5 percent equity stake. Aman says, “Main aapko loot nahi raha hu, but Rs 10 cr is a good valuation, you will have to see ahead for bigger rounds (I'm not robbing you, but Rs 10 crore is a good valuation; you'll have to look ahead for larger funding rounds).” After sealing the deal with Aman, he said, “Sir aap apne aap ko iss industry ke gunde kehte ho, aap gunde nahi baazigar ho (Sir, you refer to yourself as a thug in this industry, but you're not a thug, you're a player).”
Dadasaheb shared his story, starting as an office boy at Infosys and using his earnings to study design. Within three years, he became the design head. After moving to Hyderabad, he learned programming and decided to create design software, leading to the product he presented on Shark Tank India.
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