JOIN OUR WHATSAPP CHANNEL
Shark Tank India Throwback: When pitcher disagreed with Ashneer Grover's words; 'Hum hasi mazaak mein nahi aaye hain'
In the first season of Shark Tank India, Ashneer Grover criticised the pitchers for their asked valuation that seemed unrealistic to him. However, the pitchers disagreed with him.
Shark Tank India was a new approach from the makers that aimed to give a platform to aspiring entrepreneurs from different regions of India and help them make a successful business venture. Several brands have already appeared before the Sharks. While many received investments based on their impressive sales numbers, several brands didn't get any deals.
In the first season, a company named qZense Lans showed up on the stage with their device that can give details about any vegetable or fruit in terms of freshness, sugar level, and other factors with 95% accuracy. However, Ashneer Grover told them that they were wasting time to which the pitcher expressed their disagreement.
qZense Labs asks Rs 1 crore in exchange for 0.24% equity
Pitchers Rubal and Dr. Srishti appear on the Shark Tank India stage and explain their device to the experts sitting before them. After stating the use and significance of their quality detector device (made for perishable foods like vegetables and fruits), they put a demand of Rs 1 crore for 0.25% equity in their company.
After listening to the pitch, Shark Aman Gupta asked the pitchers if people were actually making use of this device, as generally, they don't do such stuff. To this, Rubal responded that they were not sending the device to the consumers but to retailers, wholesalers, and exporters. Further, Shark Namita Thapar asked them if there were any similar technologies globally.
Meanwhile, Shark Ashneer Grover mentioned that he was unable to understand their revenue model and price. Pitcher Rubal shared that they made a sale of Rs 15 lakh in the FY 2021-22. Hearing the numbers, Shark Anupam Mittal commented, "Rs 15 lakh ka sale. Dekho mere ko abhi aur chakkar aane lage. Fir bhi Rs 400 crore ka valuation (Look, my head is spinning even more. Still valuation of Rs 400 crore)."
After being consistently asked by the Sharks the reason behind their high valuation, the pitcher explained that they discussed it with their CA. Shark Aman Gupta told them to remove the CA. Although the pitcher went on to justify their ask for Rs 400 crore valuation, Sharks did not seem convinced. Shark Anupam Mittal told them, "Mujhe lag raha hai yeh manch pe aap apna product apna brand popularise karne aaye hain (I feel that you have come to this platform to popularize your product and your brand)."
Later, Namita Thapar, Anupam Mittal, and Aman Gupta consider themselves out of the deal. Shark Vineeta Singh offered Rubal and Dr. Srishti Rs 1 crore for 5% equity in their company.
Watch the pitch here:
Pitchers express their dislike towards Ashneer Grover's words
Talking to the pitchers about their ask and demand, Shark Ashneer Grover commented, "Hum apna kaam chhod kar yahan baithe hain. Hasi mazak karne toh yahan pe bhi hum nahi aaye hain (We have left our work and are sitting here. We haven't come here to joke around either)." He said that having a Ph.D., being intelligent, or having deep technology can alone not build a business. Ashneer Grover also told the pitchers that they don't have any sense of business.
Responding to the statements, pitcher Rubal said, "Maybe we are ambitious, and that's fine. We will learn, or maybe we will prove others wrong. I don't know. One thing is that hum hasi mazaak mein nahi aaye hain (we haven't came here in-joke)." She also stated that her co-pitcher, Dr. Srishti, drove from Banglore while being 8 months pregnant for Shark Tank India and hence were not making any joke.
The pitcher also stated, "I feel bad about it ki hasi mazaak mein toh hum nahi kar rahe yeh company. Shayad hum seekhenge, hum maan sakte hain (I feel bad about it as we are not running this company jokingly. Maybe we'll learn, we can say that)." However, Ashneer still tagged their asked valuation as a joke, but Namita said that being unrealistic was a different thing. Lastly, the pitchers got no deal on the show.
Latest Articles
