Shark Tank India has returned with its second instalment on Sony Entertainment Television and Sony LIV. Shark Tank India Season 2 episode 10 premiered on January 13, 2023 with the title “Zillionaire Banne Ki Chah” during the 10-11PM IST time slot. Payel Seth is the show’s creative director, while it’s been produced by Studio NEXT, with Ravikesh Vatsa as its writer.
The show is hosted by comedian Rahul Dua, and graced by six judges, better known as sharks – Anupam Mittal Founder-CEO of Shaadi.com – People Group; Aman Gupta, Co-Founder-CMO of boAt; Namita Thapar, Executive Director of Emcure Pharmaceuticals; Vineeta Singh, Co-Founder-CEO of SUGAR Cosmetics; Peyush Bansal, Founder-CEO of Lenskart.com and Amit Jain, Co-Founder-CEO of CarDekho Group and InsuranceDekho.com.
-Shark Tank India Season 2 Episode 10 Recap Contains Spoilers-
Shark Tank India Season 2 Episode 10 Recap
New age lifestyle jewellery brand, ‘Zillionaire’ is introduced to the sharks by the 19 year old founder Aaditya Fatehpuriya and Raghav Goyal. They hope to become a lifestyle brand and not a jewellery business, with an organic marketing that has reached out to numerous celebrities and public figures like Raftaar, Ranveer Singh and others.
Asking for Rs. 50 lakhs for 3.3% equity, the two founders were inspired by hip-hop culture and hustled hard to start their brand. Aaditya’s father has had a business in the jewel and gem industry, which helped the, grow out their name as well. Raghav, on the other hand, received a 40% scholarship from Parsons School of Design due to his contribution to Zilllionarie.
They’ve designed their bling-studded jewellery with cubic zirconia (CZ). The sales recorded in the financial year of 2022-2023 (to date) have been for Rs. 1 crore, hence the growth rate is marked at 554.5%, with the new year projected estimated at Rs. 2 crores. The average order vale is marked at Rs. 14,000 and sales happen only though the B2C model via their Instagram profile.
Unit economics from the brand is broken down as follows: sales – Rs. 1 crore, Cost of goods sold – Rs. 40 lakhs, Customer acquisition cost – Rs. 25 lakhs, Salaries – 14 lakhs, Shoot – Rs. 4 lakhs and Overheads -Rs. 2 lakhs, leading to an EBITDA of Rs. 15 lakhs. Anupam applauds them for having earned this much profit at such a young age.
Moving on, Namita appreciates their design, but believes the average order value to be quite high, and claims their concept to be having a niche market. She doesn’t see it as an investor-worthy business, but guides them to follow their father’s lead on the business front, and understand the technicality of it right from the early stage.
Anupam digs in to present his opinion, but it soon manifests into an altercation between him and Namita regarding the matter of people emerging from affluent families not having the drive for hustle. Namita counters him by consolidating that such stereotypes are baseless. Peyush pulls them back to the present situation.
On being asked by Anupam about the future, Raghav foresees his company earning Rs. 2 crores on a monthly basis by the time they reach 2026, with the vision of expanding their sales to the international front as well. Peyush counters their approach, stating that by that time period, other brands will have also grown in this domain, which brings him to the question – What sets them apart from the rest?
Raghav takes a moment to gather his thoughts, and responds bang on with the claim that they have a direct link to the hip-hop culture with their in-depth knowledge on the matter, which bridges the gap between them and their customers’ psyche regarding the product. Furthermore, they’ve also been asked to collaborate with high-end names like Marvel, FIFA, Disney, etc, in addition to their stock being sold at a store in the U.S.
However, they’re getting stuck at the technical front. They’ve established a firm foundation for their brand, but need guidance to eliminate the arising glitches and other technical hazards curbing their growth. Peyush is sure of their potential, and joins up with Aman and Vineeta, but as they convene, Anupam presents them with the first offer and incentive of working shoulder-to-shoulder with them, offering his full-commitment and attention to them for Rs. 1 crore for 10% equity, offering them a greater amount as asked.
Aman pitches in with his expertise in the area, Vineeta promises to aid them in attaining their goal at a faster rate and Peyush offers a solid technical hand. Their offer is at a lower valuation with Rs. 50 lakhs for 10% equity. Anupam takes over again and guarantees them that no shark works with their full intent with a low equity stake. The duo excuses itself from the scene and come back strong to announce Anupam as the “King of Bling”.
The second team, ‘CredMate’ is here to transports us all to a new world of credit. Founders Gaurav Kundra and Gaurav Sharma tickle the sharks’ funny bone with their pitch and present their ask of Rs. 50 lakhs for 5% equity, having registered 2.75 lakh users on their platform till now.
Call it fortunate or not, but both Gauravs connected through a mutual link who had loaned money from them individually, which led to come up with the idea of their business. Their platform registers daily defaulters on the timeline. Anupam counters this concept, stating that such rating businesses are heavily regulated and they can’t deal out information like this without the backing of RBI.
Considering their platform to be more of a chatbox, they earn their revenue through the KYC process, which gained 40,000 customers and recorded last month’s (taking the shooting date as the reference time) sales at Rs. 1.3 lakhs.
Eventually, the plan on moving to the “cash burn” model through which they will make use of funds for creating a community, while also facilitating future revenue streams and building their business on network effect.
A drawback surfaces during the exchange which reveals that daily transaction isn’t possible at the moment due to the lacking admin panel. Namita can’t see though their vision for the company clearly and even encourages them to inculcate clarity of thought , while Anupam praises their honesty but isn’t willing to bet on their business, which appears to be stuck on the prototype stage.
‘Freebowler’ is the last pitching team for the day with founders Pratheek Palanethra and Vishwanath HK, who initiate a conversation around the lack of good infrastructure for proper cricket training despite the nation’s die-hard love for the sport. Through their mission, they bring on a budget friendly and a life-like bowling style mechanical machine which works on spring and battery and can be installed easily. they’ve sold 1000 bowling machines in 15 countries and their supply has reached cricket academies, schools, colleges and even cricketers.
Their aim is to provide a better proper training experience to sub-level players and for that their ask of the day is targeted at Rs. 75 lakhs for 7.5% equity.
Both of them move on to their respective introductions and Vishwanath reveals that he’s played U-16 for Karnataka and is even a qualified coach and umpire Pratheek, on the other hand, has played for many years alongside his partner and happens to be K.L. Rahul’s cousin as well. While Pratheek handles the business and product development and marketing, and holds the equity of 32.6%, Vishwanath looks out for operations, logistics, customer support, finance with 21.74% stake in the company. Other stakeholders include Pratheek’s father, and even the national player R. Ashwin.
They demonstrate their manual and battery operated free bowler machines’ working . The product is patent granted and can bowl up to a maximum speed of 130 kmph. The former product is marked a Rs. 20,000 a piece while the battery-operated one, which is yet to be launched, is priced at Rs. 40,000. The sharks point out some rudimentary issues and faults for which the team is ready to work upon and fix them.
Total sales of the operation have been marked at 26 lakhs for the 2018-2019 cycle, Rs. 55 lakhs during the 21-22 frame, with last month sales standing at Rs. 1 lakh. Pratheek agrees that they’ve been finding it difficult to manage the cash flow, further outing that they’re headed towards losses at the moment. Their business rivalry is set against the brand ‘Leverage’, the biggest player in the nation, but all alternatives of arcade machines are marked at high prices, and aren’t affordable for the general audience.
Anupam is shocked to see they don’t know the market size and the numbers gained by their competition, which leads to him to doubt their business acumen despite 5 years of functioning. Aman believes that the manual machine is still stuck at a rudimentary model, and pulls out of the pitch. Vineeta claims that a lot competition will be targeting them in the next 5 years, so sees no reason to participate right now. Peyush is certain that it’s not possible to make the products as cheap as needed.
While all sharks are out, Namita, too, agrees that its as good as a pre-revenue model, but is willing to take a risky bet on their innovative switch-up. She presents them with an offer of Rs. 50 lakhs for 15% equity and Rs. 25 lakhs Debt at 10% interest. Some counters make their way in, and the final deal is settled at Rs. 25 lakhs for 7.5% equity and Rs. 50 lakhs Debt at 10% interest.
Shaker Tank India Season 2 Episode 10 Review
There’s no age boundary for entrepreneurship, and even if the show may not be your favourite reality TV series at the moment, you can’t deny that it has at least helped consolidate this perception, further encouraging the nation’s talents to come out of their shells. The majority of runtime was credited to the first pitch of ‘Zillionaire’ in the lates episode and once again had the shark fighting it out for making their investments in the business. With the profession of the episodes, the sharks have often changed shades as well and from time to time, they all exhibit their eagerness and zest to lead a solo deal.
This shift is quite evident especially when compared with the first few entries of the season. As teased in the promo for the next week, we’ll finally see Amit Jain’s game being played as well, and it has surely been a long wait. We can’t wait to see how his presence leads to even more eventful shifts in the trajectory of the show’s vision.
Shark Tank India Season 2 episodes will be broadcasted on Sony Entertainment Television and live-streamed on SonyLIV from Monday to Friday at 10 PM IST.
Also read: MasterChef India Season 7 Episode 10 Review: Pressure Test Based on TRP and Elimination