Shark Tank effect: How sales zoomed, websites crashed, and Amazon listings were lost
Since it first premiered in December 2021, Shark Tank India has amassed a massive following. The reality show, which is currently in its second season, has not just become a medium to gain investment (and gyaan) from the sharks but also become a way for startups to gain exposure.
Out of the 62,000 aspirants from India that applied in Season 1, 198 businesses were selected to pitch their ideas to the ‘sharks’. Out of these 198, 67 businesses got deals in S1.
Multiple startups reported a boost in sales and/or customer interest and inquiries after appearing on the show. Here’s a look at some of the startups, from across the two seasons, that saw a spike in orders and visibility after appearing on the show:
Paradyes
Paradyes claims to be India’s first semi-permanent hair colour brand, manufacturing and selling hair colours that last for 8-10 washes. After its appearance on the show, the brand’s website saw a 20x spike in traffic, while its sales doubled, claimed the founder, Yushika Jolly, in a LinkedIn post.
“Following our airing, our sales have almost doubled on our website and in a few specific marketplaces. Our website has seen a 20x spike in traffic. Numerous distributors and detailers have contacted us. In the last two days, our Instagram has gained more than 9k followers,” stated Jolly.
Founded by husband-wife duo Siddhartha Raghuvanshi and Yushika Jolly in March 2021, Paradyes had the sharks fighting for a stake in the business, making up one of the season’s most dramatic episodes. However, Jolly also revealed on LinkedIn that her decision to walk away with a lower valuation but the ‘right sharks’ drew the public’s ire, with people bombarding her (but not her husband) with hate messages online.
Flatheads
Flatheads Shoes creates ‘all-day casual shoes for the urban workforce’ priced between ₹1,000-₹5,000 a pair. When its founder Ganesh Balakrishnan appeared on the show, the company was on the verge of being shut down.
His emotional pitch on the show not only moved the judges but also, the viewers. Though he rejected the deal received on the show, he ended up clearing out his entire stock after the show aired.
“We've almost sold out our inventory in India, so pardon us if you aren't able to find your size on www.flatheads.in.
The company also launched a limited edition Flatheads NOT OUT collection of 900 shoes, and within 60 hours, received 813 pre-orders.
Haqdarshak
Founded by Aniket Doeger, Haqdarshak is a mobile and web platform connecting citizens to eligible government welfare schemes. Positioned as a “for-profit startup”, Haqdarshak claims to have served over 25 lakh customers and 50,000 micro-businesses since inception. The company’s website received so much traffic that it crashed after its appearance on the show.
TeaFit
Mompreneur Jyoti Bhardwaj founded TeaFit as a no-calorie alternative to sugary drinks. The beverage company founder left all the sharks impressed with her meticulous and well-prepared pitch.
Once the episode aired, TeaFit surpassed its monthly sale record in just 30 minutes, but also ended up in a pickle - when Amazon suppressed the listing after it went out of stock. Bharadwaj reached out to LinkedIn with an update and asked for help. Shark and boAt cofounder Aman Gupta pitched in, along with others.
“After #sharktankindia airing, we went out of stock on FBA (Fulfillment by Amazon) - and our Self Ship ASINs (Amazon Standard Identification Number) have been suppressed citing "listings are on vacation mode". The vacation mode is forced as we are unable to edit it. We are losing sales by the minute. In the first 30 minutes, we did more than the sales of the entire month. And for the last 40 minutes listings are inactive - we need help. Those of you ordering, please order on the website https://tea.fit,” shared Bharadwaj on LinkedIn.
Apart from the boost in sales, TeaFit also received massive inquiries, prompting Bharadwaj to hire a temporary Executive Assistant to respond to requests and queries.
Skippi Ice Pops
The first startup to secure an all-shark deal on the show, Skippi Ice Pops is a popsicle brand founded by Hyderabad-based couple Ravi and Anuja Kabra. The company has launched ice pops in six flavours – raspberry, orange, mango twist, bubblegum, cola, and lemon.
Its monthly sales skyrocketed from ₹5 lakh to ₹2 crore after appearing on Shark Tank India.
“Our revenue increased 40x, and our sales increased to approximately ₹2-2.8 crore monthly. After Shark Tank, we were asked to process over 20,000 orders for online platforms,” stated the company on its website.
JhaJi Achar
In Season 1, sisters-in-law Uma and Kalpana Jha arrived all the way from Darbhanga, Bihar to pitch JhaJi Achar, a startup producing traditional pickles. Though their product and pitch floored the judges, the duo failed to crack a deal.
A year after the episode aired, the brand grew over 400%, with monthly sales touching over ₹25 lakh. Before Shark Tank, the brand’s monthly sales stood at ₹5 lakh.
Moreover, S2 started with the startup receiving additional funding of ₹85 lakh from sharks Vineeta Singh (co-founder, Sugar Cosmetics) and Namita Thapar (executive director, Emcure Pharmaceuticals). The startup also increased its team size from 5-6 to 50 people, most of them are women.
Sunfox Technologies
Founded by Rajat Jain, Sunfox Technologies creates a smartphone-operated portable, pocket-sized ECG device called Spandan, which can be used by anyone, anywhere – even in remote areas where the network may be an issue. And it received an all-shark deal on the show.
The startup gained so much interest that just after 20 minutes of the episode airing, they were out of stock.
The founder also claimed that since appearing on the show, Spandan has helped save 272 lives and now exports to 11 countries. The company’s capacity increased from 500 (before Shark Tank) to 5,000 (after Shark Tank), and its sales increased 30x, recording monthly sales of ₹40 lakh.
Get-A-Whey
Mother-and-son duo Jimmy and Jash Shah founded the healthy dessert startup Get-A-Whey which sells desserts that are keto-friendly, high in proteins, low in calories, and have no added sugar. Almost a year after its appearance on the show, the brand was recording a monthly run rate of ₹2.5 crore as per reports. Comparatively, at the time it appeared on the show, it had achieved YTD sales of ₹2.2 crore in FY22.
The Quirky Naari
Founded by Malvika Saxena, The Quirky Naari is a fashion and lifestyle startup creating quirky footwear and apparel. Multiple reports stated that the brand clocked average monthly sales in just 48 hours after appearing on Shark Tank India.
“After the episode was aired, our Instagram account saw 10,000 new followers in just 36 hours. Our website crashed, and we clocked our average monthly sales in just 48 hours. We still have over 1,500 inquiries to cater to,” shared Saxena with YourStory.
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