By Grace Cyril: In the January 27 episode of Shark Tank India Season 2, a garment brand pitcher managed to bag a deal that involved all the five Sharks! It left the founder extremely emotional. He also called Aman Gupta his inspiration. Shark Tank 2, that released on January 2, sees entreprenuers from different walks of life pitching their brands to some big-shot investors, also called Sharks. The Sharks include Amit Jain, Peyush Bansal, Namita Thapar, Aman Gupta, Vineeta Singh and Anupam Mittal. There were three pitches in the episode.
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HIGHLIGHTS FROM SHARK TANK 2 JAN 27 EPISODE:
1. In the first pitch, a garment brand owner Siddharth Dungarwal gave his presentation and talked about his products. He called his brand 'India's fastest-growing fashion brand for men.' He also revealed how his brand was the first one to launch co-ord sets for men. After understanding his business, all the Sharks were impressed by him. Siddharth also revealed how he has learnt a lot from the Sharks' blogs and YouTube. His ask was Rs 1.5 crore for 0.5 per cent equity. Aman said that he also learnt to start his business from YouTube videos. Coming to the business part, Peyush told Siddharth, "The five of us would like to offer you Rs 1.5 crore for 1.5 per cent equity." Siddharth agreed to the deal and got emotional.
2. The second pitch was a brand that sold life-size interactive fitness mirror. Founders Armaan Kandhari, Indraneel Gupta and Vishal Chandapeta gave the presentation and talked about their new technological innovation. Their ask was Rs 1.5 crore for 1 per cent equity. Their mirrors cost Rs 1.25 lakh per unit. After understanding their business, Anupam offered Rs 1.5 crore for 5 per cent equity, Vineeta offered Rs 50 lakh for 1 per cent equity and Rs 1 crore as debt at a 12 per cent interest rate. Peyush, Namita and Aman jointly offered Rs 1 crore for 2.5 per cent equity and Rs 50 lakh debt. In the end, after much back and forth, the founders closed the deal with the trio for Rs 1.5 crore for 2.5 per cent equity without any debt.
3. The last pitch was a weight loss company by founder Shikha Aggarwal. She talked about her weight loss scheme with dieting, proper sleep and no exercise. This left the Sharks in doubt. When Anupam saw the diet chart she would recommend to a diabetic person, he said that she is feeding him a poisonous diet. All the Sharks refused to invest in her business.
WHO ARE THE SHARKS IN SEASON 2?
Shark Tank Season 2 is hosted by comedian Rahul Dua. We have six sharks - Anupam Mittal (Founder-CEO of Shaadi.com), 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). Amit Jain replaced Ashneer Grover in Season 2.
