Breakthrough Hair Care Brand Surprises Shark Tank India 3 Shareholders
In the latest episode of Shark Tank India 3, a viral hair care brand surprised all the shareholders with their presentation. The representatives of this brand showcased their intriguing offer to the shareholders. Before entering the studio, Vineeta noticed the display and reacted with surprise, saying, “Such a big company, how is this possible?” Namita added, “For marketing purposes, and what else.”
Dhurv Madhok and Dhruv Bhasin presented an enticing offer to the shareholders that amused them. Dhruv and Dhruv’s goal is to become the best-selling and highly efficient hair care brand in India, and they asked the shareholders for a 1 crore rupee investment in exchange for 1.25% equity.
Vineeta welcomed them and asked, “Your brand is already funded and developed. Taapsee Pannu is your brand ambassador, so why did you come to Shark Tank? Is it just for marketing because you’re not intending to make a deal?” Dhruv explained that they want to expand their business and need the smart support of the shareholders. Aman asked about the education of both Dhruvs. He also mentioned that he had spoken to them before and liked one of their shampoos. Namita inquired about the ingredients and formulation of their products.
Anupam, Namita, and Vineeta further interrogated them about the products, their pricing, and other financial factors. The shareholders asked them about sales, previous funding rounds, and a valuation of 79 crore rupees. When asked about the losses incurred each year, Dhruv stated that they still have 50 lakh rupees in their account. Aman was surprised, saying, “After raising 28 crore rupees, you only have 50 lakh?” Dhruv explained that a large portion of their funds is tied up in inventory.
Vineeta and Anupam suggested that their business is declining. Aman said that they are great entrepreneurs offering solid products, but something caused their business to falter. After further private discussions, Vineeta and Namita decided to join forces and make an offer to them. The remaining shareholders dropped out. Deepinder couldn’t support them as he can’t work with already listed brands. Aman said he is willing to help them outside of Shark Tank, but not on the show.
Vineeta and Namita’s offer was 1 crore rupees in exchange for 2% equity, valued at 50 crore rupees, and it was non-negotiable. Dhruv and Dhruv made a counter-offer of 1 crore rupees for 1.33% equity and an additional 0.67% advisory shares. The shareholders agreed to this proposal and made a deal.
The source of the article is from the blog kewauneecomet.com