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‘I had gone there to perform'
Speaking at an event organised by YouTube Goldmine Framework, Taneja explained that getting funding was not his only objective when he appeared on the reality show.
“I had gone there to perform. The fact that they didn’t give me the funding is a different matter,” he said.
Taneja said the exposure generated by the episode eventually benefited his business. He revealed that the company had initially been seeking funding at a much lower valuation but received a substantially better opportunity roughly four months after the show.
“The aftermath turned out to be good for us. Sometimes, you feel low. But when one door closes, another opens,” Taneja said.
From ₹100 Crore To ₹300 Crore Valuation
Explaining the difference in numbers, Taneja said, “We had gone there seeking funding of Rs 100 crore. About four months later, I got funding of Rs 300 crore.” He added, “Earlier, I was giving away 1% equity for Rs 1 crore. Now, I got Rs 3 crore for 1%.”
The entrepreneur said the deal allowed him to retain more ownership in the company rather than giving away equity at the earlier valuation. “It saved us from having to keep our valuation at Rs 100 crore. We saved our equity,” he said.
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Shark Tank Exposure Worked In His Favour
Taneja also credited the episode’s popularity with helping more people discover his brand. He said the episode became the most-watched episode and that his team repurposed footage from the appearance for social media reels.
“It became the most-watched episode. A lot of people also discovered us. We used a lot of reels from that episode. So, whatever happens, happens for good,” he said.