The latest episode of Shark Tank India 2 saw Peyush Bansal (CEO of Lenskart) and Anupam Mittal (Founder and CEO of People Group) get into a war of words.
It all began with Vineet Saraiwala, Founder of Atypical Advantage, pitching his start-up before the sharks. Visually challenged himself, his platform provides several kinds of jobs for people who have some physical disability. His ask was Rs 30 lakh for one per cent equity at a valuation of Rs 30 crore.
Bansal, who has immense experience of working in the eyewear industry, rolled out an offer of Rs 1 crore investment for 12 per cent equity at a valuation of Rs 8.33 crore. However, he clarified that he wants to do the deal alone because having many people on the captable will cause confusion.
This miffed Mittal who had rolled out a similar offer with Namita Thapar (Executive Director, Emcure Pharmaceuticals). “Inko koi alag type ki deal karni hai for some other reason..” (He wants to do some different type of deal for some other reasons).
Bansal confronted Mittal and asked him why he was making such accusations. Mittal said that Bansal has in the past done several deals with the other sharks so he is unable to understand his problem for coming on board for this deal.
Anupam backs out of the deal saying, “Inka kya agenda hai, yeh hi jaane…” (Whatever his agenda is, he only knows). He meant that he doesn’t want to invest in a deal wherein someone else wants to drive the agenda. Bansal also backed out soon after.
In the end, Saraiwala took Thapar’s and Aman Gupta’s (Co-founder and CMO of boAt) deal of Rs 30 lakh investment for 3 per cent equity at a valuation of Rs 10 crore.
In another episode, Thapar will be seen walking out from the show. It is related to nutrition brands, Nestroots and sharks are at loggerheads to invest in it. Unable to arrive at a common consensus, Thapar can be seen saying in the end while walking out, “Not okay, you need to keep your ego in check.”
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