This is Shark tank India episode number 17. In this episode of shark tank India, Find Your Kicks India’s attempt to build the sneakerhead culture, AAS Vidyalaya’s initiative to make India a 100% literate country, Outbox’s surprise planning ideas and RoadBounce’s solution for judging road conditions are the pitches.
1. Find Your Kicks India
- Find Your Kicks India Owners: Simardeep Singh, Harshdeep Singh, Danish Chawla are the sneakers head. They all are from Punjab and are 24 years old.
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About Find Your Kicks India
Their sneakers are limited edition sneakers. They stated that the demand for these sneaker’s demand is very high and production is low. In the resale market, they are sold at a premium price. There are many problems while buying from the resale market such as limited choice, Limited size, and fake sneakers. Find Your Kicks India is a reseller aggregator platform where one can get every limited sneakers in every size and no chances of fake sneakers as they are checked before selling. And if anyone wants to sell their sneakers at profit, they can sell at Find Your Kicks India platform. Currently they operate on Instagram having 40k followers, and are ready to launch their app and website.
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Gross Profit and Sales
The company’s valuation is 5 cr. In the last 8 months they had a revenue of 26 lakhs. And Last month sales were 3.5 lakhs. Gross Merchandise value is 5.5cr. Net profit is 17 lakhs. Their average selling price is 20k.
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Asks by the Pitchers of
Pitchers approach with a ask for 50 lakhs for 10% equity.
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Counter offers for
Shark Ashneer grover and namita and gave an offer of 50 lakhs at 30% equity. Later it was revised, all the sharks offered for 50 lakhs at 30% equity. Owners give a counter offer of 50 lakhs for 20% equity. All sharks counter it at 50 lakhs for 25% equity.
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Final offer for
The final deal was done with all sharks at 50 lakhs for 25% equity.
2. AAS Vidyalaya
- Aas Vidyalaya Owners: Vikas Kakwan, Leena Kakwani
Vikas Kakwan from Meerut; 50 years old completed his schooling from a convent school; graduation from IIT Roorkee; Management from IIM Lucknow; worked 20 years as corporate and Leena Kakwani from Kanpur having knowledge in child’s psychology.
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About AAS Vidyalaya
Our country has 8 lakhs primary schools ,4 lakhs middle schools and 1.5 lakhs Secondary schools wherein the average attendance of school is near about 50%.On an average out of 100 students 30 students pass in 10th grade examination. For this reason AAS Vidyalaya was founded; ,the anytime anywhere school. The venture harnessing the technology looks to reach students in every corner of the country and provide schooling to every student in the country. Their app has all the curriculum like a school where a student can attend any classes at any time, take tests, report cards are generated and parents Teachers meeting is also held via this application.
They are following NCERT curriculum. Keeping in mind that everyone may not afford a smartphone and internet connection, they have their own AAS Vidyalaya cyber cafe where only their classes are held. They have introduced marathi medium in recent years and they are only providing class 6-10 students. The target customer of their business is the middle class family where people don’t have the necessary set up for the education.
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AAS Vidyalaya Gross Profit and Sales
The valuation of the company is 50 crore. The revenue model is considered on two verticals:
- They have a B2C model.
- They are in contact with companies who have their industries set up in remote villages or small villages.
These companies provide capital to set up the AAS Vidyalaya cafe in their campuses. They have invested about 1.5 crores rupees.The equity has been divided into three divisions; 7% belong to Nidhi programme, Vikas and other directors have 70% equity and other friends have 23% equity. They have generated a revenue of 70 lakhs in the last financial year of 20-21. Current revenue is about 1.50 crore and projected is about 5 crore.
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Asks by the Pitchers of AAS Vidyalaya
Pitchers approach with a ask for 1.5 crore in return of 3% equity in the company.
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Counter offers for AAS Vidyalaya
Peyush,Namita and Ashneer jointly counter offer for Rs.1.5 cr. in return for 15% equity in the company. Pitchers counter for 7.5% equity for 1.5 cr. Pitchers again change the equity to 10% for 1.5 cr. but the deal was non negotiable as told by Namita thapar.
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Final offer for AAS Vidyalaya
The final deal was 15% equity for 1.5 cr. rupees and it is the highest investment in shark tank india till date.
3. Outbox
- Outbox Owners: Kaushal Modi and Sukriti Agarwal
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About business Outbox
They are India’s first premium surprise planning company. They started their business in 2017. If someone wants to plan a surprise for their partners, then they will go for Outbox. It has been a profitable venture from the beginning. They provide few options to the customers based on their persona, background and demography. They provide couple dining service on cruises. The complete bookings can be done on their website.
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Outbox Gross Profit and Sales
The company’s valuation is 10 crores. Their cheapest service is ₹3.5k which they sell in Kolkata. And the Costliest service is for couples at 1.5 lakh. Their revenue is 5cr. Last year they generated revenue of 1.4 cr. Currently they are running at a run rate of 1.5 cr. They do better business in Second half of the year than the first half.
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Asks by the Pitchers of Outbox
Pitchers approach with a ask for 50 lakhs for 5% equity.
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Final offer for Outbox
All the shark tank india judges were out of the deal and no final deal was done.
4. RoadBonce
- RoadBounce Owner: Ranjeet Deshmukh
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About RoadBounce
RoadBounce is a company that deals with the technology that measures the metric of bad roads full of potholes, bumpers, cracks.The company has an app where the datas get collected when the users use their app while travelling and from that datas they generate live time informations for the users. Suppose in the case of an emergency an ambulance can be helped by providing the live feeds.The business model is based on service provider and Ranjeet applied for patent in this field and in recent days he is confident that he will achieve this.
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RoadBounce Gross profit and Sales
The valuation of the company is 8 crore rupees.The revenue generated in the last year 2020-21 is about 30 lakhs rupees.The revenue was Rs.1.50 cr. rupees in the financial year 2019-20.The projected revenue this year is Rs. 2.50 crore.
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Asks by the Pitcher of RoadBounce
Pitchers approach with a ask for 80 lakhs rupees for 10% equity in the company.
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Counter Offer for RoadBounce
Shark Aman gupta, Namita, Ashneer and Anupam backed themselves off. Peyush counter offers for Rs. 80 lakhs in return for 20% equity in the company.
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Final Offer for RoadBounce
The final offer was done for 80 lakhs rupees in return for 20% equity in the company.
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Shark Lesson of the Day
Shark Peyush bansal explains the true meaning of entrepreneurship. He said that a true entrepreneur is one who understands the depth of a problem and has strong determination to bring the solution for that problem. Big entrepreneurs are one who has a strong will to do something big through small steps and changes they bring towards the problem.
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