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Food and grocery delivery behemoth <keyword id="6358977" type="General" weightage="20" keywordseo="Swiggy" source="Orion">Swiggy</keyword> is on a roll, pushing out multiple new services simultaneously, ahead of the festive season, and its much-touted Rs 11,664 crore IPO. Experts anticipate the IPO to hit the bourses in the upcoming months. Earlier last week, the company's shareholders had approved of raising the fresh issue component of the IPO, from Rs 3,750 crore previously to Rs 5,000 crore. This will allow Swiggy to add an extra Rs 1,250 crores to its coffers for future growth. The remaining Rs 6,664 crore will be an OFS (offer for sale), largely paving a way for Swiggy's old investors to exit. In the buildup to its IPO, the delivery giant is dialing up the competitive fever big time with rival <keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword>, which went public in 2021. Swiggy recently launched <keyword id="23440051" type="General" weightage="20" keywordseo="XL-Fleet" source="keywords">XL Fleet</keyword> for large-scale <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> and Bolt, which is an <keyword id="23461052" type="General" weightage="20" keywordseo="AI-powered-logistics" source="keywords">AI-powered logistics</keyword> system. Per some media reports, the company is also launching an invite-only concierge membership program called the "Rare Club", which will have an annual fee of up to Rs 50,000. <h2>Who doesn't love a little pettiness? </h2>But that's not it. In the time being, Swiggy is also aggressively looking for ways to gain maximum public attention, one of which is by sponsoring the fourth season of the popular entrepreneurial reality show <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword>. But here's the catch-a key condition of this deal is to not bring back Zomato CEO <keyword id="19901325" type="General" weightage="20" keywordseo="deepinder-goyal" source="keywords">Deepinder Goyal</keyword> as a shark. Media reports suggest that Swiggy is set to close on a massive Rs 40-60 crore sponsorship deal with the show. But in a seemingly low-ball move, Swiggy has blocked the return of Zomato CEO Deepinder Goyal as one of the investors on the show. Goyal had made his debut on the third season of the show, and was looking to make a comeback alongside long-time regulars such as Anupam Mittal, Aman Gupta, Namita Thapar and Peyush Bansal. <h2>Bolting ahead with XL</h2>In a move that clearly underlines its ambitious expansion plans, Swiggy also recently announced the launch of its new XL Fleet service, which will look to cater exclusively to bulk orders and large-scale food deliveries. Per Swiggy's co-founder Nandan Reddy, XL is a natural evolution of Swiggy's services. As it is, a recent report by Bain and Company highlighted that India's food services market is set to double to a massive Rs 9 trillion by 2030, surging up significantly from its current standing of Rs 5.5 trillion. Not just that, the customer base is also set to expand from 320-340 million as of 2023 to 430-450 million by the end of the decade. Earlier this year, Zomato had also stepped in this segment by launching its large-order electric fleet, which could serve orders for a gathering of up to 50 people. Alongside this, Swiggy has unveiled Bolt, which is an AI-powered logistics system specifically designed to optimize delivery routes, predict demand patterns, and improve overall operational efficiency. The aim is to bring down on delivery time and costs, giving Swiggy a massive competitive edge in the growing food and quick delivery market. With this feature, Swiggy claims that users can get certain meals such as burgers, <h2>Challenges Await </h2>As of FY24, Swiggy's operating revenue stood at ₹112.5 billion, a 36% jump from the previous year. The company also managed to reduce its net losses by as much as 44% to ₹23.5 billion. While these may come across as positive signs, which are also pushing the company's unlisted shares to new heights, Swiggy significantly lags behind Zomato in both food delivery and quick commerce segment. Consider this. Per Morgan Stanely, as of FY24, Swiggy's GOV (gross order value) at Rs 24,700 crore, was far lower than Zomato's Rs 32,200 crore. Swiggy's GOV and AOV grew at a CAGR of 15.5% and 2.5% respectively, between FY22-24. In contrast, Zomato's GOV and AOV registered a CAGR of 23% and 3.7%, respectively. At 12.7 million, Swiggy's MTU (monthly transacting users) for FY24 were also a far cry behind Zomato's 18.4 million. Even when it comes to average order value (AOV), Swiggy's Instamart lags behind Zomato's Blinkit. This is also why analysts believe that despite Swiggy narrowing the gap on most key metrics like AOV, GOV and more, the company's share will command a lower valuation than that of its rival Zomato.

Ahead of much awaited IPO, what is Swiggy upto? Launching XL Fleet, premium membership and kicking out Zomato CEO

<keyword id="20115473" type="General" weightage="20" keywordseo="Ashneer-Grover" source="keywords">Ashneer Grover</keyword>, known for his blunt persona on the Indian edition of Shark Tank, has once again found himself embroiled in a controversy, this time involving a popular comedy roast. The co-founder and former managing director of <keyword id="19956322" type="General" weightage="20" keywordseo="BharatPe" source="keywords" meta.keywordsubtype="org" meta.entityname="BharatPe" meta.hostid="261" meta.entityid="BharatPe">BharatPe</keyword>, Grover is no stranger to the limelight, but his latest escapade has stirred considerable buzz of the negative kind on social media. Grover recently featured on "<keyword id="21736600" type="General" weightage="20" keywordseo="Pretty-Good-Roast" source="keywords">Pretty Good Roast</keyword>," a show hosted by comedian <keyword id="21736601" type="General" weightage="20" keywordseo="Aashish-Solanki" source="keywords">Aashish Solanki</keyword>. During the episode, Solanki made light of Grover's tumultuous exit from BharatPe — a topic that has been a hot-button issue ever since Grover and his wife were ousted from the fintech startup in 2022 amid allegations of financial impropriety. The roast, which included jabs at Grover’s departure from his own company, quickly became a viral sensation. However, the humour did not sit well with Grover. He reportedly demanded the removal of the segments featuring these jokes and subsequently sent Solanki a <keyword id="20476156" type="General" weightage="20" keywordseo="legal-notice" source="keywords">legal notice</keyword> to take down the entire episode. Solanki complied, announcing on Instagram: "Friends, I have removed the Ep 5 of Pretty Good Roast. I don't have money to fight the legal battle. I had spent all of it on the show," he stated, highlighting the financial strain legal actions can impose on independent creators. Solanki also expressed his disappointment, noting, "The response on previous episodes led us to believe our audience were ready for roast humour. However, it seems that some, especially those in power, are not quite there yet." This incident has triggered a wave of backlash against Grover, with many accusing him of "<keyword id="20415529" type="General" weightage="20" keywordseo="doglapan" source="keywords">doglapan</keyword>" (duplicity). The term gained popularity during Grover’s stint on <keyword id="19913228" type="General" weightage="20" keywordseo="shark-tank-india" source="keywords">Shark Tank India</keyword> and even became the title of his book, "Doglapan: The Hard Truth about Life and Start-Ups." Social media users were quick to point out the irony of Grover, who once prided himself on his no-holds-barred attitude, now seeking to censor comedic content. <div type="twitter" handle="samratsingh23" handlename="samratsingh23" favoritecount="0" retweetcount="0" id="1792498229701161312"></div> <div type="twitter" handle="memes_hallabol" handlename="memes_hallabol" favoritecount="0" retweetcount="0" id="1792750542655295852"></div> The controversy draws attention to Grover's complex public persona. After his high-profile exit from BharatPe, Grover pivoted to content creation, leveraging his fame to build a substantial following on platforms like Instagram, YouTube, and various podcasts. He has even claimed that he has made more money through content creation than during his tenure at BharatPe. Despite his success as a content creator, Grover’s latest actions have sparked a debate about the boundaries of humour and criticism, especially concerning public figures. The legal threat against Solanki underscores the precarious balance comedians must navigate when their satire targets influential individuals. As the dust settles, one thing is clear: Ashneer Grover remains a polarising figure. His journey from a controversial entrepreneur to a content creator and now to a central figure in a comedy roast controversy reflects the multifaceted and often contentious nature of public life.

Roasted shark? Ashneer Grover faces backlash over legal tussle with comedian Aashish Solanki

<ul><li>The <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> judge says gatekeepers of the app ecosystem – Apple and <keyword id="19902762" type="General" weightage="20" keywordseo="google" source="keywords">Google</keyword> – are the new East India Company and they operate with complete arrogance and impunity.</li><li>Just as startup founders are coming under pressure, venture capitalists and auditors too need to be held accountable for their behaviour.</li><li><keyword id="20225195" type="General" weightage="20" keywordseo="shark-tank" source="keywords">Shark Tank</keyword> India has become a catalyst for driving entrepreneurship and giving it legitimacy. </li></ul> <keyword id="127971" type="General" weightage="100" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> is India’s original internet entrepreneur, who is the founder and CEO of People Group. Way before platform economy became a buzzword, Mittal built a platform for Indians seeking life partners. And even today one million Indians find their partners on shaadi.com every year. Call him the OG of startups or a serial entrepreneur, he is a man who does not mince words. In a free wheeling chat with Business Insider’s Malini Bhupta, Mittal talks about unfair trade practices of Google, his investment in Ola’s Bhavish Aggarwal and what he thinks is the biggest achievement of Shark Tank India. Edited Excerpts: With some high profile startups like Paytm and Byju’s coming under lens, what do you think is wrong with the startup ecosystem? I think the Paytm issue is a little different. There are two issues there in my view – one is valuation. The company came out with its IPO at the height of the unicorn boom and as a result, their valuation was corrected when the pvt. market corrected. This is part of the pricing game and one can hardly blame them for it. Eventually, they would have grown into their valuation is what I believe. However, the second issue which is regulatory in nature is far more serious. Whether it is justified or not I don’t know. I think there is a little heavy-handedness here as what you are talking about is a payments bank KYC stuff being the reason to shut them down, which could be seen as over-reach since they are not a significantly important lending institution. Talking about what is wrong with India’s ecosystem and why founders are behaving badly is a common issue that occurs when there are high levels of greed. When there is massive liquidity in the system people think they can take advantage of the situation. In the US you have seen Theranos, crypto frauds and an industry that was created around SPACs. Billions of dollars have been lost on that. What is happening in India is a small reflection of that. Greed manifests in two ways – one is the founders who are ambitious who see the ecosystem celebrating unicorns and that gets weaponised. Over time a few start with minor refractions and very soon they start fabricating revenues and manipulating auditors to keep up with the image that has been created. They are riding tigers they can't get off. The venture capitalists too want to see their investments being marked up as their future fund raises depend on the portfolio's net asset value and so they play along and at times actually drive the founders at a velocity that is unsustainable. I think they need to be held accountable by their LPs. Auditors have a very important role here and are perhaps the ones who need to pay the highest price through government censures. They are market participants who have been entrusted with a certain job for which they get paid hefty fees. When they start looking the other way, the system breaks. You have been waging a pitched battle against the unfair trade practices of Big Tech companies in India. What, in your view, are the steps that need to be taken by the government to prevent such unfair practices by large global players? Fundamentally the experience of the internet is through apps – two companies control the entire app ecosystem Google and Apple. Both operate with complete impunity. Two years ago the CCI passed an order against Google around <keyword id="963171" type="General" weightage="20" keywordseo="google-play" source="Orion">Google Play</keyword> Billing System (GPBS). Now they have changed the name to User Choice Billing. If you look at the order CCI says there will be no discrimination at all. Being on the App Store means nothing unless you advertise on Play Store. Startups spend anywhere between 10-50% of revenue on advertising on these platforms already. Essentially, the app store is worth nothing if you don’t have content. What choice does a company have but to adhere to their unfair practices… Now they say that any transaction that happens on apps downloaded via the store will be subject to 15-30% tax/commissions. What this means is that they want 50% of the revenues of the startups. It is the new East India Company and they operate with complete arrogance and impunity. The problem is in getting these companies to comply. Their strategy is to stretch out the legal process and tire the system. Our government and regulators have the right intent but sometimes democracies are messy. As a government, we have to ensure that nobody becomes the gatekeeper to our economy which is what these companies are trying to do. There should be penal provisions for anybody who abuses the law or twists and turns it while violating the very spirit of it. Non-compliance with judicial orders is contempt of court and so there is an opportunity to send a very strong message. These bullies need one arm chopped off in the form of penalties, a rap on the knuckles will not work as they are too big to care about a couple of hundred million in penalties. What is the biggest achievement of Shark Tank, which has now become a huge hit in India? In life timing is everything. Shark Tank’s first season was in December 2021, which was the peak of the startup hype cycle, and it demystified the whole conversation around startups and funding. Shark Tank has become a catalyst for driving entrepreneurship and giving it legitimacy. India is a land of entrepreneurs with every second person running some small business, many from home. A decade ago, if you told someone you are an entrepreneur, you would be told to come back when you get serious. The show has played an amazing role in celebrating entrepreneurship and the startup ecosystem. A lot of companies have done very well. About 8-10 companies that got funded in Shark Tank are doing very well out of 180 companies that came to the show. This is an early stage game and will play out the same way. When you invest in 100 early stage companies, 4-5 will do very well and help recover the investments and some will become very big. A majority will fail. What I found amazing was that the companies that came to the show were not the elites who came from IIT or IIM. These are small businesses founded by housewives and family members. Entrepreneurship is not the reserve of the few. The next decade will be defined by Indian entrepreneurs globally and so there is no better time to be an entrepreneur than now. Shark Tank has put belief in every Indian that they can do it and that changes the game. Many of the founders that come to Shark Tank can do even better than the founders who have come from an IIT or an IIM. I believe that these people understand commerce and ‘dhandha’. The elitist founders are used to being served everything on a platter. Many professionals who come out of large companies or consulting firms cannot start without large funding. Out of the 100 unicorns we have, many will spectacularly fail in 2024 as they were built on the wrong foundations. These companies were built on a template of Ivy League founders and old school networks and so they got funded. Of the businesses that come to Shark Tank, what sectors can do well and stand a better chance of being funded? Indians now have the same aspirations as people in other parts of the world. Anybody who comes in and can bridge the gap between aspiration and affordability will do well especially in lifestyle. For example - Companies in the clothing and jewellery space will do well if they can deliver high aspiration at a value pricing. Last year a company called Snitch came with a revenue of Rs 60 crore and is now doing Rs 250 crore in sales. A company called Skippy, which makes ice pops was funded on Shark Tank too and has a run rate of Rs 50 crore from a few lakhs before ST. I funded a company called Sharmaji Ka Atta which has a revenue run rate of Rs 20 lakh a month in less than 12 months from less than 1 lakh. Another one called Whatsapp Wellness just got funded by HUL. Fundamentally, companies that can build premium products but don’t break the bank on affordability in categories like fashion, lifestyle and food will do well. People read labels now and the young generation is focused on what they are eating. Beauty and wellness products will do well as a secular trend for most of our history Lakme meant beauty, that’s how unbranded we were. Do you feel Shaadi.com is still relevant after Tinder and other dating apps came about? Let’s understand why Tinder is used, it is for hookups and is struggling to grow its revenue in India. Shaadi.com is not an arranged marriage platform. Shaadi.com is a planned marriage platform. Indian culture has four stages of life and marriage is one of the life stages. When you are planning to marry you look for compatibility and it is not about a chemical reaction. On Shaadi.com the family and parents collaborate to find a partner. The old community networks are now dying and we replace those networks. We are bringing together people in the same life stage to find a like-minded partner. The hook-up sites don’t do that and don't understand the Indian ethos. They are applying the same global model to India which does not work beyond a certain point. You were the original internet entrepreneur with a disruptive product. Why did you not create a large business that went on to become a decacorn or a unicorn? It depends on how you define success. If the definition is labels such as decacorn and unicorn, then that's not the game we are playing. Those are vanity labels that I would rather not pursue. Our definition of success is value creation and we are long-term compounders, much like Berkshire &amp; LVMH, so in a sense our ‘overnight’ success story is still waiting to become obvious to the world. From that lens, our ROCE is perhaps the best in the industry we have only ever raised about $20 mn but created several billion in value between our operated and invested cos. Our investee companies employ thousands, have raised over $20 bn and will go on to create $100 bn in value over time, in the bargain generating tremendous wealth for the country and hopefully for us too. We boast an IRR of 52% consistently for more than a decade which is extraordinary by any standards and a testament to our approach and story. Many people build businesses but we were fortunate to create entire industries such as online matchmaking via Shaadi.com, which we still run; proptech company Makaan.com which we sold to NewsCorp very handsomely; India’s first &amp; still the largest digital ad agency, Interactive Avenues, which we sold to IPG at a benchmark price that is yet to be crossed; India’s first mobile gaming company, Mauj Mobile which spawned a massive industry. So, whether it is our customers, employees, shareholders, the country or society at large, I think we have already impacted 10s of millions and while we don’t have a market listed entity like Jio or TCS to show for it, we have delivered massive national and global level impact. Keep in mind that we are most often the first to check into investee cost and every company we have founded has been the first in its industry. Our innovations have generated billions of dollars in wealth and given rise to innumerable founders and entrepreneurs who have learnt at our companies and gone on to build massive companies of their own. Further, I am still very young and the Indian opportunity is only now unfolding. In the next couple of years, you will see some of our other bets in space exploration, mobility real edtech, &amp; sustainable fintech come into the limelight besides something very special we are building on our own. So, in short, I still remain the OG and if you force me to use your labels we have birthed not one or two but several Unicorns &amp; Decacorns and that too with very limited capital. It is perhaps one of the most spectacular untold stories of value creation in the digital economy. Ola is one company that is headed for an IPO and you own 2% in the company. How did that happen? When we invested in Ola, there was not much of a concept of venture funding and the company did not have any suitors so we were able to get in at a very attractive valuation and hold an extremely healthy minority stake which obviously has been diluted over time. I think the network effects are so large that it is hard for others to get into it. I am still a shareholder and looking forward to the initial public offering. I invested in 2012 and when I met Bhavish first, I did not understand the problem he was solving as I live in Mumbai where cabs are available. So I did not think there was a problem. A few days later when I was in Delhi and needed a cab, I was told that they would call a taxi stand. After I came back from Delhi, I realised there was a problem everywhere. And I used to call the call centre and Bhavish used to answer the call centre, which showed me his commitment and reminded me of myself when I had started and so I invested.

Anupam Mittal hits out at Google — 'Tech bullies need one arm chopped off in the form of penalties'

Mumbai, D'chica's, a brand that curates puberty-essential products tailored specifically to the needs and preferences of teen girls, has bagged a deal of Rs 80 lakhs with <keyword id="20292047" type="General" weightage="20" keywordseo="namita-thapar" source="keywords">Namita Thapar</keyword> and Vineeta Singh on the new episode of '<keyword id="19913228" type="General" weightage="20" keywordseo="shark-tank-india" source="keywords">Shark Tank India</keyword> 3'. In a bid to propel D'chica to new heights of success, its co-founders, Richa Kapila and <keyword id="20348209" type="General" weightage="20" keywordseo="vani" source="keywords">Vani</keyword> Chugh from Delhi made a debut on the business reality show. From stylish bras and period panties to fashionable athleisure and footwear, the brand strives to empower young girls during their crucial teenage years with its meticulously crafted collection. Bound by both family ties as sisters-in-law and a shared passion for business, Richa and Vani, the founders of D'chica, embarked on a new entrepreneurial journey after facing setbacks with their previous venture focused on infants and toddlers. Despite the challenges that led to the closure of their initial business, the sisters-in-law remained undeterred. Instead, they embraced failure as a powerful teacher, drawing invaluable lessons from the experience. In 2019, they founded D'chica, a brand committed to celebrating the transition from adolescence to womanhood. They launched their first inner wear collection in 2020. Through their determination and hard work, Richa and Vani transformed D'chica into a brand that resonates with the Alpha and Gen Z generations. On the show, they asked for Rs 80 lakhs in exchange for one per cent equity. Amit Jain, CEO and co-founder of CarDekho Group, asked: "Do you do the manufacturing yourself or have you given a contract to someone for it?" Richa replied saying, "We currently have five manufacturing units which we operate out of." After seeing the products, <keyword id="20380308" type="General" weightage="20" keywordseo="namita" source="keywords">Namita</keyword> Thapar, executive director of Emcure Pharmaceuticals Ltd, said: "Dr. Garima is a new angel (pointing to the packaging)." To which the founders replied: "Dr. Garima is a consulting gynaecologist with us. We have onboarded a gynaecologist whom customers can reach out to for guidance. We do it for community building." Finally, they sealed the deal with Namita and Vineeta (Co-Founder and CEO of SUGAR Cosmetics), at Rs 80 lakhs for two per cent equity plus one per cent royalty until the sum is recouped. Sharing her excitement on being a part of the 'Shark Tank India', Vani Chugh, co-founder D'chica Fashion Lifestyle Private Ltd, said: "Shark Tank India helped our teen and young women inner-wear brand D'chica reach millions of Indian homes and create mainstream conversations about subjects as taboo as periods to common youth issues like body image and confidence." "With our body adapting bras, reusable period panties and chafing-free underwear D'chica is laser focused on the fast growing market of 12 crore plus girls," she added. 'Shark Tank India 3' streams on Sony LIV.

Body-adapting bras, reusable period panties & more help this startup bag ₹80 lakh from 'sharks'

'<keyword id="20653768" type="General" weightage="20" keywordseo="chefling" source="keywords">Chefling</keyword>', a unique do-it-yourself (DIY) kit that includes all the ingredients needed to make a tasty global recipe, has sealed a deal of Rs 40 lakh with four sharks on the business reality show '<keyword id="19913228" type="General" weightage="20" keywordseo="shark-tank-india" source="keywords">Shark Tank India</keyword>' season 3. Hailing from Mumbai, the 25-year-old <keyword id="20649763" type="General" weightage="20" keywordseo="rounit-gambhir" source="keywords">Rounit Gambhir</keyword>, founder of Chefling, introduced this innovative concept of, aiming to streamline the preparation of exotic cuisines. Seizing the opportunity during the lockdown, this young entrepreneur launched his product in Mumbai. Chefling seeks to offer individuals a personalised, cutting-edge gourmet experience that is not only enjoyable and delicious but also affordable. Rounit's vision is rooted in the desire to simplify the process of cooking fancy dishes for enthusiasts with time constraints. The types of DIY kits available are -- Japanese: Sushi and Mochi; Mexican: Enchilada and Taco; and Italian: Lasagna. Talking about his brand, Rounit said: "The company was started in August 2020, and we have sold more than 5,000 kits pan India till date. The kits are available on our own website." "The Indian DIY meal kit market size by the year 2025 will reach around Rs 8,000 crore, and we want the global cuisines to reach every household in India, and Indian cuisines to reach worldwide, so that their experience is economical, easy and sustainable," shared Rounit. He then made a pitch of Rs 40 lakh for 10 per cent equity. Anupam Mittal, the founder and CEO of Shaadi.com said: "Sushi was very good. Thank you for feeding us. The young pitcher further talked about his entrepreneurial journey. Fueled by the determination to rise above his father's company losses and bankruptcy, Rounit harnessed this setback as an opportunity in a market where culinary experimentation is a universal desire. Chefling emerged as the answer to the complexities faced by aspiring home chefs, making it a culinary haven that eliminates hassles and brings the joy of cooking straight to our homes. The compelling pitch and unique brand captured the attention of shark Namita Thapar, the executive director of Emcure Pharmaceuticals Ltd, who took on the challenge of crafting the perfect sushi roll on 'Shark Tank India 3'. And with that, 'Chefling' secured a deal with sharks Namita Thapar, Azhar Iqubal (Co-founder and CEO of Inshorts), Amit Jain (CEO and Co-founder of CarDekho Group), and <keyword id="20313422" type="General" weightage="20" keywordseo="peyush-bansal" source="keywords">Peyush Bansal</keyword> (Co-founder and CEO of Lenskart), at Rs 40 lakh for 16 per cent equity. Speaking about the experience on the show, Rounit shared: "Over the past three years, belief in connecting our unique idea with the right audience fueled our journey through highs and lows. This belief sustained us through challenges, leading to a pivotal moment when Shark Tank India expressed interest in featuring Chefling." 'Shark Tank India 3' is streaming on Sony LIV. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank">Pixel 8 Pro review: ‘Okay Google’ – The flagship smartphone ticks almost all boxes</a><a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms" target="_blank">Poco, OnePlus top Indian smartphone shipment growth but overall reading flat</a><a href="https://www.businessinsider.in/business/auto/news/ola-electric-cuts-prices-of-scooters-to-compete-with-ice-two-wheelers/articleshow/107816897.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-cuts-prices-of-scooters-to-compete-with-ice-two-wheelers/articleshow/107816897.cms" target="_blank">Ola Electric cuts prices of scooters to compete with ICE two-wheelers</a>

A DIY cooking kit maker Chefling raises ₹40 lakhs from four 'sharks'

<ul><li>As many as 27 startups that appeared on the show secured funds from external investors, says Redseer Consulting.</li><li>Startups on the show cumulatively raised ₹100 crore on <keyword id="1417364" type="General" weightage="20" keywordseo="shark-tank" source="Orion">Shark Tank</keyword> across seasons 1 and 2.</li><li>The biggest shark amongst all is Aman Gupta, the founder of BoAt who invested ₹24.6 crore across 70 deals. </li></ul><keyword id="13108748" type="General" weightage="20" keywordseo="shark-tank-judges" source="Orion">Shark Tank judges</keyword> are indeed sharks who have bargained the best deals — putting in a lot less than what was asked — and making the startup founders dilute a lot more than they intended to. True to their nature, they also picked a lot of winners who were able to gain business, funding along with publicity from screen time – that has helped many D2C brands in particular. Redseer Consulting, in a recently released report, has found that 27 startups that appeared on season 1 of the show secured funds from external investors. ”Most startups that appeared on the show secured deals 6 times greater in value from outside investors within a span of 1.5 years. Their current valuation is also 2.5 times greater than what they were valued on <keyword id="15913368" type="General" weightage="20" keywordseo="shark-tank-season-1" source="Orion">Shark Tank season 1</keyword>,” said Kanishka Mohan, partner at Redseer Consulting. In season 1, as many as 117 pitches were made, out of which 65 of them accepted deals on the show, 20 rejected deals and 32 were not offered a deal at all. All these sections of startups, received a fair amount of interest from external investors. Six startups which were not offered a deal on the show like — On2Cook, Theka Coffee, Good Piggy Bank, Sabjikothi and Nushka were able to secure deals outside. “In all, most startups that appeared on the show fared well afterward, securing better deals and increasing valuations,” the consulting firm said. Who’s the biggest shark? As much as ₹100 crore was invested in startups that pitched their ideas on Shark Tank season 1 and 2 by eight sharks. And the shark with the most appetite is Aman Gupta, the founder of BoAt who invested ₹24.6 crore across 70 deals. He is followed closely by Peyush Bansal, the co-founder and CEO of Lenskart who invested ₹21.5 crore across 67 deals. The most active shark of season 1 who missed the second season is Ashneer Grover, the co-founder of BharatPe, who invested ₹5.3 crore in 21 deals. Shaadi.com founder Anupam Mittal who was recognized as one of India’s best angel investors, as per Hurun, had invested ₹14.4 crore across 50 deals on the show. Sharks loved to invest in startups pertaining to the food and beverage sector . Amongst the few deals made in healthcare and manufacturing, most of them came from Thapar and Bansal who have expertise in these sectors. “Most of the deals made on the show had one shark onboard; however, it never happened that all the sharks invested in a single business,” Redseer said. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shark </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Appeared in </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount invested </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of deals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Preferred sector </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aman Gupta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Seasons 1 &amp; 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹24.6 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">70 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">F&amp;B </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Peyush Bansal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Seasons 1 &amp; 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹21.5 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">67 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Namita Thapar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Seasons 1 &amp; 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20.6 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">62 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anupam Mittal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Seasons 1 &amp; 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹14.4 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">F&amp;B </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vineeta Singh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Seasons 1 &amp; 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹11.3 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">F&amp;B </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashneer Grover </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Season 1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5.3 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">F&amp;B </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amit Jain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Season 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7.2 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">F&amp;B </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ghazal Alagh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Season 1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.3 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">F&amp;B </td></tr></tbody></table>Source: Redseer Consulting

It pays to pitch on Shark Tank – most startups raise external funding at avg 6x the value

<ul><li><keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> S2 judges appeared on a <keyword id="1590914" type="General" weightage="20" keywordseo="Podcast" source="Orion">podcast</keyword> hosted by comedians Tanmay Bhatt and Rohan Joshi. </li><li>The sharks talked about how the pitches changed in S2, and how contestants were better prepared to answer their questions. </li><li>Vineeta Singh also mimicked her fellow judges and recited their catchphrases. </li></ul>The sharks of <keyword id="1417364" type="General" weightage="80" keywordseo="shark-tank" source="Orion">Shark Tank</keyword> India S2 appeared on the podcast <a href="https://www.youtube.com/watch?v=aXRchlAv51M&amp;ab_channel=HonestlybyTanmayBhat">Honestly by Tanmay</a> last week, hosted by comedians Tanmay Bhat and Rohan Joshi. During the 30-minute podcast, all five sharks poked fun at each other and shared interesting anecdotes about season 2 — like who’s the most emotional investor amongst them and how pitches have changed from Season 1. “In Season 2, the toxicity is out, for good,” said <keyword id="544908" type="General" weightage="80" keywordseo="namita-thapar" source="Orion">Namita Thapar</keyword>, a shark. Season 2 features five of the seven sharks from Season 1 — Vineeta Singh, cofounder, Sugar Cosmetics; Namita Thapar, CFO, Emcure Pharmaceuticals; Anupam Mittal, founder, Shaadi.com; Aman Gupta, co-founder boAt, and Peyush Bansal, co-founder Lenskart. Amit Jain, co-founder CarDekho, joined the season for the first time, replacing two of the sharks from season 1 — Mamaearth co-founder Ghazal Alagh, and BharatPe co-founder Ashneer Grover. This season, comedian Rahul Dua replaced actor Rannvijay Singha as the host. <cmsannotation type="cmsannotation" annotationid="From winning over doubters to heightened popularity" comment="subhead2" text="From winning over doubters to heightened popularity">From winning over doubters to heightened popularity</cmsannotation> Initially, the ‘VC circle’ had looked down on the show, judging the sharks for participating in it. Doubts were also raised on the ability of this American show to capture the interest of the Indian audience. However, the massive success of Season 1 turned the skeptics around. “There was a lot of resistance (amongst VCs) initially. How can you take the Shark Tank of the USA and dramatize it for India? Once India embraced it, VCs would come and comment, ‘Oh we also got a call but we didn’t have time’. I’ve heard this so many times,” said Mittal. As per Singh and Thapar, Aman Gupta and Anupam Mittal have embraced their newfound fame with the most ease. They even lauded Gupta’s ‘social media game’. Gupta then said that he manages his social media accounts, himself. <cmsannotation type="cmsannotation" annotationid="Brands and their branding" comment="subhead2" text="Brands and their branding">Brands and their branding</cmsannotation> Thapar said that <a href="https://www.businessinsider.in/business/news/flatheads-shoes-founder-denies-shark-tank-offer-sells-his-entire-inventory-over-the-weekend/articleshow/96849132.cms">D2C brands benefitted</a> from the heightened popularity of their founders — but Gupta denied it. He stated that while the show helped increase brand awareness, Indian customers are far too intelligent to make buying decisions based on popularity alone. “I don’t think sales get impacted. The Indian consumer is very smart - they’ll buy after making their own decision. Yes, brand popularity soars across India. But does it impact sales? I don’t think so. The consumer will still see the product and its value proposition. They won’t buy it because it’s Aman’s product or Peyush’s product. I don’t think that happens in India,” shared Gupta. Bansal echoed Gupta’s statement, adding that it would be wrong to say that someone appears on Shark Tank India to build a personal brand. Jain also backed them stating if the product isn’t good, increased brand awareness won’t help sell it. However, both Vineeta Singh and Anupam Mittal believed that building a personal brand was crucial to selling a product, as the current generation of consumers values authenticity over anything else, and that shapes their brand loyalty. <cmsannotation type="cmsannotation" annotationid="Longer pitches but better prepared to answer judges’ questions" comment="subhead2" text="Longer pitches but better prepared to answer judges’ questions">Longer pitches but better prepared to answer judges’ questions</cmsannotation> In the 35-episode-long first season, <a href="https://www.business-standard.com/article/companies/business-bites-how-have-winners-of-shark-tank-india-1-fared-so-far-123010100470_1.html#:~:text=It%20was%20a%20reversal%20from,Rs%201%20crore%20or%20more.">report</a>s said that sharks collectively invested approximately ₹41 crore in 67 of the 198 pitches. The massive success of S1 impacted the quality of pitches in the second season. According to the judges, contestants pitching on Season 2 were more informed and far better prepared than their S1 counterparts, and ‘solid stories and entrepreneurs’ from across India appeared this time. “Startups (pitching on the season) with ₹30-₹50 crore revenue, ₹10 crore profits from bootstrapped companies,- families of 2-3 guys doing it. We were shocked, blown out of our brains - from small towns in India, from God knows where,” added Mittal. The average time for a pitch extended to 1.5 hours in S2, as compared to 53 minutes in S1 as the contestants were already prepared with the answers to commonly asked questions and used phrases and words most likely to impress the judges. “They had learned (how to pitch). The answers to our questions were already in their pitches. Many times we had no questions because they’d already shared the information we needed to hear, in the pitch itself,” said Gupta. <cmsannotation type="cmsannotation" annotationid="The funding winter investors" comment="subhead2" text="The funding winter investors">The funding winter investors</cmsannotation> Though detailed, the long-winded pitches often left judges Namita Thapar and Aman Gupta bored, who resorted to playing games like cross and knots and passing chits of paper to while away time — especially when the other panelists questioned the contestants. As the group shared on the podcast, Bansal had the most number of questions to ask, while Mittal had the most ‘gyan’ (wisdom or knowledge) to offer. Making a subtle comment on the ongoing funding winter, Bansal and Mittal even added that Shark Tank was the only place where investments were still taking place. “We’ve made so many investments in this (funding) winter. This is why people will see the show, I believe. Because no one’s investing in the market. So here, the element of hope is very high,” commented Bansal. As of Friday, January 6, 2023, 11 of the 15 pitches from the show have received funding from the sharks. The four pitches that have not received funding are Recode Studios, Atmosphere (Kombucha), Flatheads Shoes and Organic Smokes. <cmsannotation type="cmsannotation" annotationid="‘Will you invest in Elon Musk?’" comment="subhead2" text="‘Will you invest in Elon Musk?’">‘Will you invest in Elon Musk?’</cmsannotation> By the end of the podcast, the judges played a round of ‘who’s most likely to’. Amit Jain was named as the judge most likely to make an investment due to an emotional story. Thapar’s the shark who’s the quickest to cut a cheque, while Mittal is the most cautious investor. Gupta is the one most likely to misspell the word entrepreneur, and Jain emerged as the one most likely to win at poker. The hosts also asked all the judges if they’d invest in tech magnate Elon Musk, considering the way he’s handled the microblogging platform Twitter after taking over as its CEO. Bansal said that people’s memory is extremely short-lived and if Twitter’s profitable after two years, Musk’s current shenanigans will easily be forgotten. Jain further added that considering Musk’s ‘credible success rate’, he’d definitely invest in Twitter under Musk. Mittal, though, shared that “given all the things going in the world, we need unifying voices. And the point Elon Musk is at right now, we can do with less of that.” Shark Vineeta Singh also mimicked all the judges and recited their catchphrases from the show. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-credit-worthiness-to-be-stable-in-2023-but-upcoming-elections-could-keep-social-spending-elevated-moodys/articleshow/96851926.cms">India’s credit worthiness to be stable in 2023, but upcoming elections could keep social spending elevated: Moody’s</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/mercedes-honda-bmw-and-others-showcase-some-exciting-car-tech-at-the-ces-2023-these-are-our-favorites/articleshow/96851293.cms">Mercedes, Honda, BMW and others showcase some exciting car tech at the CES 2023 — these are our favorites</a>

In Season 2 of Shark Tank India, the toxicity is out for good says Namita Thapar

<ul><li><keyword id="172535" type="General" weightage="100" keywordseo="cheesecake" source="Orion">Cheesecake</keyword> &amp; Co is a Delhi-based dessert startup producing eggless, baked cheesecakes. </li><li>In just a year of its inception, the startup has established a presence in Delhi, Bengaluru, Karnal, and Lucknow. </li><li>Both the founders and sharks entered into negotiations over equity stake, but neither budged from their stance. </li></ul>Many startups that appear on <keyword id="11924074" type="General" weightage="80" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> look for a deal where the sharks’ expertise, investment, and connections balance the dilution of equity. But for Cheesecake &amp; Co—the latest startup to appear on the show—the sharks’ offer wasn’t worth diluting equity. Cheesecake &amp; Co is a Delhi-based dessert startup producing eggless, baked cheesecakes. Founded by husband-wife duo Himanshu Gakhreja and Shreya Agarwal, Cheesecake &amp; Co started operations in 2021- though the idea first struck Gakhreja in 2018. “I took a resolve in 2018 and began working on Cheesecake. I dropped out in twelfth grade. Cheesecake is not just an art, it’s everything to me,” shared Gakhreja on the show. The founders asked for an investment of ₹1 crore for a 2% equity stake, which valued the startup at ₹50 crore. <cmsannotation type="cmsannotation" annotationid="A cheesecake made of love and a secret ingredient" comment="subhead2" text="A cheesecake made of love and a secret ingredient">A cheesecake made of love and a secret ingredient</cmsannotation> Gakhreja worked with a bakery company, Chawla Bakery for 2.5 years. After gaining an in-depth knowledge of cakes from the bakery, Gakhreja wanted to branch out on his own - but his father forbade him. Gakhreja’s father is a distributor of raw materials for bakery products. Where Gakhreja failed, his wife succeeded and she managed to convince her father-in-law to let Gakhreja follow his passion. Though convinced, Gakhreja’s father didn’t offer any help, monetary or otherwise, to help the two. In fact, to start his business, Gakhreja said on the show that he received ₹10 lakh from the owner of the bakery he first worked at. And that’s how Cheesecake &amp; Co. was born. Gakhreja worked on the recipe for years, trying to replace eggs with ingredients that weren’t as costly as regularly available alternatives. Currently, the startup uses a secret ingredient to replace eggs in the recipe, which the founders didn’t disclose on the show. “It (secret ingredient) is never made in (our) factories. Even today, it’s made from home and is even shipped to Bengaluru from Delhi,” claimed Gakhreja on the show, prompting Shaadi.com founder Anupam Mittal to compare the recipe to the secret formula of Coca-Cola. In just one year, the company opened 19 stores (physical outlets and cloud kitchens) - 17 in Delhi and 2 in Bengaluru. Since its appearance on <keyword id="1417364" type="General" weightage="20" keywordseo="shark-tank" source="Orion">Shark Tank</keyword> India, the startup has further <a href="https://www.instagram.com/p/Cn86LfjobzC/?hl=en">expanded </a>to Lucknow and Karnal. It primarily offers cakes, dessert jars, cheesecakes, and brownies. It generated sales worth ₹6 crore in FY22. Moreover, in just July 2022, the brand made sales worth ₹1.94 crore. And Gakhreja is also one of his father’s biggest customers. <cmsannotation type="cmsannotation" annotationid="Equity vs sharks" comment="subhead2" text="Equity vs sharks">Equity vs sharks</cmsannotation> The judges couldn’t stop praising the products after tasting them, with Lenskart co-founder Peyush Bansal even commenting that he wasn’t surprised at how well the startup was doing, considering the quality of the cake. However, Namita Thapar, executive director at Emcure Pharmaceuticals, was the first one to back out, because she believed that after a certain level, it would be difficult to scale a business of perishable products. <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword>, the co-founder of Sugar Cosmetics, also backed out because she didn’t think that cheesecake made for a huge market. On the other hand, boAt co-founder Aman Gupta expressed an interest but asked the founders about their requirements from the sharks and their investment expectations. Gakhreja responded that he wanted to shift from being a traditional merchandiser to a corporate setup and expand further. That’s when Shaadi.com founder Anupam Mittal made an equity-and-debt offer: ₹50 lakh for 5% equity, and a ₹50 lakh loan at a 15% interest rate. This valued the company at ₹10 crore. After hearing Mittal’s offer, Bansal backed out stating that while he was impressed by the founders’ humility and hunger for growth, he couldn’t better Mittal’s offer and so wouldn’t make one. Meanwhile, Gupta decided to join Mittal. However, the founders responded by asking the sharks to revise the offer to an investment of ₹1 crore for 3% equity, which had Gupta asking what really mattered to the founders. “Is your company’s 3% more valuable to you or an investment of ₹1 crore? Or do you value the sharks more?” asked Gupta. When Gakhreja responded that equity dilution and sharks are important to him, and they didn’t want a loan, Mittal remarked that 2% was the minimum equity stake that he would expect to hold in the company. The sharks revised their offer to ₹1 crore for a collective equity stake of 5% - 2.5% each to Mittal and Gupta. This valued the company at ₹20 crore. “I feel that you need help. My investor helped me when I needed it. Today, we’ll stand with you to help,” added Gupta. Though the founders tried to bring down the equity stake to 3.5%, the sharks didn’t budge - and neither did the founders. Ultimately, no deal was struck. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/beunic-on-shark-tank-india-closet-is-not-the-place-to-be-says-this-mom-who-built-an-lgbtq-community-marketplace/articleshow/97492557.cms">BeUnic: Closet is not the place to be says this mom who built an LGBTQ+ community marketplace</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/to-not-police-childrens-creativity-moms-create-child-friendly-art-products-find-investors-on-shark-tank-india/articleshow/97480472.cms">To not ‘police’ children’s creativity, moms create child-friendly art products &amp; find investors on Shark Tank India</a>

This cheesecake startup refused to give up a slice of its company for a lower valuation on Shark Tank India

<ul><li><keyword id="13768438" type="General" weightage="20" keywordseo="Shark-Tank-India-season-2" source="Orion">Shark Tank India Season 2</keyword> returned but without two of the former judges - Mamaearth co-founder Ghazal Alagh, and BharatPe co-founder Ashneer Grover. </li><li>Amit Jain, the co-founder and CEO of CarDekho, is the new judge this season. </li><li>Apart from Jain, the show will have five other judges in Season 2 - all of whom appeared in Season 1 as well. </li></ul>The hit reality show, <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword>, has returned for a second season and already started taking over the conversation on social media. The show will air on Sony TV at 10 pm from Monday to Friday, and is also available for streaming online on SonyLiv. The premiere episode of season 2 served several gems, as everyone’s favourite judges returned- along with the new addition, CarDekho co-founder, Amit Jain. Here’s a look at all the sharks from Season 2: <cmsannotation type="cmsannotation" annotationid="Vineeta Singh" comment="subhead2" text="Vineeta Singh">Vineeta Singh</cmsannotation> The <a href="https://in.linkedin.com/in/vineetasingh">founder </a>of Sugar Cosmetics, Vineeta Singh is an alumnus of the IIM Ahmedabad and IIT Madras. She started Sugar Cosmetics in 2015. Before Sugar Cosmetics, she also co-founded Fab Bag (earlier Vellvette.com) in 2012. On the premiere episode of Season 2, Singh, along with fellow judge Namita Thapar, invested in a business idea they rejected in season 1 - JhaJi by entrepreneur duo from <a href="https://www.youtube.com/watch?v=M9Y2sATRkac&amp;ab_channel=SonyPicturesEntertainmentIndia">Bihar’s Darbhanga</a>, sisters-in-law Uma and Kalpana Jha. The duo has asked for ₹50 lakh and 10% equity in Season 1. <cmsannotation type="cmsannotation" annotationid="Peyush Bansal" comment="subhead2" text="Peyush Bansal">Peyush Bansal</cmsannotation> The co-founder of Lenskart, Peyush Bansal recently appeared with fellow judges on the reality show Kaun Banega Crorepati? where he talked about how he was prompted to start a business after <a href="https://www.youtube.com/watch?v=qoilrCHrFCE&amp;ab_channel=Lenskart">being “inspired” </a>by his interaction with entrepreneur and founder of Microsoft, Bill Gates. Bansal is an alumnus of the IIM Bangalore, and also holds a Bachelor’s degree in Engineering Honors (Electrical - IT, Control &amp; Automation) from McGill University. <cmsannotation type="cmsannotation" annotationid="Aman Gupta" comment="subhead2" text="Aman Gupta">Aman Gupta</cmsannotation> One of the most loved judges from season 1, Aman Gupta is the co-founder of boAt. A chartered accountant, Gupta attended the Indian School of Business and was also an exchange student at the Northwestern University - Kellogg School of Management. Gupta worked with the financial consultancy firm KPMG before he started boAt in 2016. As per reports, boAt <a href="https://www.ndtv.com/offbeat/shark-tank-india-season-2-meet-the-six-judges-who-will-hear-the-pitches-amit-jain-aman-gupta-vineeta-singh-ashneer-grover-3658227">registered a revenue of ₹3,000 crore </a>at the end of FY22. <cmsannotation type="cmsannotation" annotationid="Anupam Mittal" comment="subhead2" text="Anupam Mittal">Anupam Mittal</cmsannotation> The founder of Shaadi.com, Anupam Mittal attended Boston College. Aged 51, he is one of the oldest sharks on the show and claims to have invested in over 150 companies in the last 15 <a href="https://www.ndtv.com/offbeat/shark-tank-india-season-2-meet-the-six-judges-who-will-hear-the-pitches-amit-jain-aman-gupta-vineeta-singh-ashneer-grover-3658227">years. </a> Mittal is also the co-founder of People Group–the parent company behind Shaadi.com–which has created businesses like Makaan.com, Mauj Mobile and produced films like Flavors. <cmsannotation type="cmsannotation" annotationid="Namita Thapar" comment="subhead2" text="Namita Thapar">Namita Thapar</cmsannotation> A chartered accountant like fellow shark Aman Gupta, Thapar obtained a Masters in Business Administration (MBA) from Duke University - The Fuqua School in 2001. She then worked with global healthcare leader Abbott for five years, before returning to India to join her father’s pharma giant, Emcure Pharmaceuticals. A recipient of the ET ‘40 under Forty’ award, Thapar is a huge fan of actor Amitabh Bachchan - so much so, that she <a href="https://timesofindia.indiatimes.com/tv/news/hindi/kaun-banega-crorepati-14-shark-tanks-namita-thapar-tells-amitabh-bachchan-she-named-her-sons-after-jai-and-veeru/articleshow/96567872.cms">revealed </a>she’s even named her sons Jai and Veeru, inspired by Bachchan’s hit film Sholay. <cmsannotation type="cmsannotation" annotationid="Amit Jain" comment="subhead2" text="Amit Jain">Amit Jain</cmsannotation> The only judge to be making his debut in Season 2, <a href="https://www.businessinsider.in/entertainment/news/shark-tank-season-2-is-here-but-popular-shark-ashneer-grover-is-missing-meet-the-new-shark/slidelist/95271549.cms">Amit Jain </a>is the CEO and co-founder of CarDekho. An alumnus of IIT Delhi, Jain started his professional career as a software engineer with Tata Consultancy Services. Jain started CarDekho with his brother after the duo was <a href="https://www.ndtv.com/offbeat/shark-tank-india-season-2-meet-the-six-judges-who-will-hear-the-pitches-amit-jain-aman-gupta-vineeta-singh-ashneer-grover-3658227">reportedly</a> inspired after a visit to Auto Expo in 2008. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/delhi-could-transition-to-almost-100-renewable-energy-by-2050-study/articleshow/96697920.cms">Delhi could transition to almost 100% renewable energy by 2050: study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/leasing-by-flex-space-operators-hits-a-new-high-of-7-million-sq-ft-in-2022-colliers/articleshow/96713121.cms">Leasing by flex space operators hits a new high of 7 million sq.ft in 2022: Colliers</a>

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This cheesecake startup refused to give up a slice of its company for a lower valuation on Shark Tank India

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