In the recent episode of Shark Tank India season 3, Aman Gupta rejected a startup pitch that was even praised by Prime Minister Narendra Modi. We saw the founders of a startup called Daak Room presenting their company. They explained that Daak Room promotes physical writing through its campaigns and products. They then asked for a capital of Rs 36 lakh in exchange for a 4 per cent stake in their company.
During the presentation, the founders of Daak Room also shared that their startup was also praised by Prime Minister Narendra Modi. They revealed that Prime Minister Modi sent them a letter of encouragement and praised his company for inspiring the younger generation.
However, Aman Gupta rejected the speech saying that it is not a business. “This happened in very ancient times. It’s not a business. “I’m out because I don’t have the same passion for writing as you guys, so I won’t be able to add more value,” he said.
Peyush Bansal also decided not to invest in Daak Room and suggested the founders transform their business into a stationary brand. “I can’t understand what exactly the service they offer and what their revenue model is,” he said.
The founders of Daak Room got a deal with Ritesh for Rs 36 lakh in exchange for a 6 per cent stake. He also added a condition to his offer, informing the pitchers that their stake would be reduced to 5 percent if the brand reached projected revenue.
Shark Tank India returned with the third season on January 22, 2024. Several familiar sharks from previous seasons including Namita Thapar, CEO of Emcure Pharmaceuticals Limited, Aman Gupta, Co-Founder of Boat, Peyush Bansal, Co-Founder and CEO of Lenskart. , Anupam Mittal, founder and director of Shaadi.com and Vineeta Singh, CEO of Sugar Cosmetics, returned for season 3 of Shark Tank India. They were also joined by new additions to the panel, including Amit Jain, CEO and Co-Founder, Car Dekho, Ritesh Agarwal, Founder, OYO, Azhar Iqubal, Co-Founder and CEO, Inshorts, and Radhika Gupta, CEO, Edelweiss Capital.
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first published: February 10, 2024, 10:41 IST
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