In one of the episodes of Shark Tank India season 02, that telecast a few days into the first week after the premiere of season 02 on January 2, 2023, we saw the owners of Stage, an online digital content app catering to web shows and films in dialects. The three co-owners of the company came from Bhiwandi, Haryana and a small town in MP. Two of them were brothers, out of which one had dressed up like a typical local Haryanvi bloke carrying his ‘lath,’ bringing in the flavour of the ‘desipan’ of their product.
They eventually managed to have three of the Sharks, Peysush Bansal, Namita Thappar and Aman Gupta, crack a deal with them. Their original ask was INR 3 crores for 1% Equity. But the three Sharks gave them an offer of 1.5 crores for 0.6% equity and 1.5% debt at 18% interest for a valuation of INR 250 crores. The three owners proudly accepted the deal.
But before this deal happened, these owners shared an emotional story of how Witty Feed, their first company that they started in 2014 closed one fine day as they woke up. This happened owing to Business Analytica. Their payroll was around INR 2 crores which died down in two months so they requested their employees to let them pay them 25 percent of their salaries and rest 75% they can consider them to have invested in opening up a new company with their own employees as angel investors. And in a matter of few months, they gave all their employees who had invested 75% of their salaries in their company an exit.
The Sharks were extremely happy and emotional hearing this story. Aman Gupts said, “girke khade hoke 300Cr ki company banana is like amazing.” Few moments ago, Aman Gupta shared the video clip of the pitch on his Twitter handle saying, In life, we all face downs. I have been down too, more times than one can imagine.But when you hit rock bottom, there is only one way out-Up. Keep hustling,the day you stop trying is the day you fail.Inspired by the spirit of such entrepreneurs and also people with such a spirit.”
In life, we all face downs. I have been down too, more times than one can imagine.But when you hit rock bottom, there is only one way out-Up. Keep hustling,the day you stop trying is the day you fail.Inspired by the spirit of such entrepreneurs and also people with such a spirit. pic.twitter.com/WzS3thIhzJ
— Aman Gupta (@amangupta0303) January 6, 2023