Shark Tank India Season 2: Deepak Kumar, Jasveer Singh, and Abhishek Asthana came to present their pseudonymous social networking platform Hood app. They impressed the sharks with their pitch and sharks praised the pitch of this trio. Pitchers shocked the sharks with the valuation as they asked for 1.2 crore in the exchange of 0.2% equity in the company which takes the valuation to Rs 600 crores. The sharks were shocked to hear this as the company was started in June 2022.
Shark Tank India Season 2: Sharks slammed the pitchers
CEO of the company, Jasveer Singh shared that he wanted to make a big company from the start and he saw that social networking can change his dream into reality. Earlier, they started Zorro but after that they changed to Hood. Sharks asked about their company in depth but pitchers gave irrelevant examples and sharks slammed them for that. Aman Gupta asked them about the reason behind RS 600 crore valuation and pitcher answered, “humare growth ki velocity dekhiye iss time pe. Humne 45 days mein kaafi users karliye.” Pitchers shared that they have raised money from 20 unicorn investors.
Peyush Bansal and Aman Gupta closed the deal
Amit Jain asked them several questions but they did not answer in correct way and Amit said ‘don’t be overconfident.’ Anupam Mittal said that they came to Shark Tank India Season 2 for marketing of their company as they are demanding very high valuation. Namita Thapar said, “you need a reality check. What your valuation is. What your value preposition is…aur har ek sawal ka aapka jawab hai.. hum naye hain hum naye hain lekin valuation 600 crore ka hai. Yeh bahaut bahaut misconceptions hain aapke dimag mein.” However, they got slammed by sharks but Aman Gupta and Peyush Bansal closed the deal for 60 lakhs for 0.54% equity and 60 lakhs for debt at 12% interest.
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