Shark Tank India’s biggest offer of Rs 5 cr was rejected; here’s why

Shark Tank India, which is in its second season, has raised the stakes in terms of deal sizes. The biggest offer in the history of the show was made recently by ‘Shark’ Amit Jain (Founder of CarDekho Group) to HR tech platform Unstop, which the start-up turned down.  (Its original ask was Rs 1 crore for 1 per cent equity)

When Jain offered them a Rs 5 crore-cheque in exchange for 10 per cent equity, the founder refused to dilute that much. After rounds of negotiations, offers and counteroffers, Unstop settled for a Rs 2-crore offer in exchange for 4 per cent equity. The four sharks who joined its cap table were Amit Jain, Aman Gupta, Anupam Mittal, and Namita Thapar. (Vineeta Singh was the only shark that opted out of the deal, citing conflict of interest.)

“We are thrilled to have received an offer of Rs 5 crore on Shark Tank India, though we settled for a smaller sum due to lesser equity dilution and more sharks on the cap table", Ankit Aggarwal, Founder of Unstop, shared with Business Today.

“This is a testament to the success of Unstop and the potential it has for continued growth. Our mission is to help talented individuals from untapped corners of India find the right opportunities and succeed in their careers,” he added.

Unstop is, essentially, an early talent engagement and hiring platform that connects students and young professionals with employers and brands looking to hire fresh talent. The start-up claims to have a community of over 4.5 million students, freshers, and early professionals on its platform. Its full-stack platform helps companies discover, assess, and recruit suitable candidates in quick time.