Ever since Shark Tank India was introduced to the Indian audience, everyone has been talking about the creative products and services that were displayed by the Entrepreneurs and innovators in the country. The platform has made it easy for small business owners in India to get exposure and big-time business deals.
In General, the show has created a new sphere of opportunity in the country, one that was not present when the panellists of Shark Tank India were as amateur as the people they review now.
Many of the judges have managed to achieve success in their founding companies at a time when such a show was not around. Most of the judges are self-made successes that had to struggle before they owned million-dollar businesses.
However, in the latest development, apart From Aman Gupta’s BoAt, all the Shark Tank Judges have been suffering from major losses. The likes of Vineeta Singh, Ghazal Alagh, Anupam Mittal, Namita Thapar, Ashneer Grover Peyush Bansal and Amit Jain have been drowning in losses.
On the other hand, the Linkedin user came up with a post that spread like wildfire on the internet. The post shows that apart from BoAt co-founder Aman Guta, all of the investors on the show are going through massive losses.
Ankit Uttam, who is an Authorpreneur and Marketer, took to LinkedIn account and opened up why Shark Tank India never worked for him, not even the first season as compared to the show’s US counterpart.
He wrote, ” In the US version of the show, every judge (Barbara Corcoran, Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary) is running businesses that actually turn a profit instead of riding on VC money or drowning in huge losses.”
“Vineeta Singh’s SUGAR Cosmetics reported a loss of INR 75 Cr in FY22 up from INR 21.1 Cr in the fiscal year FY21.”
“Ghazal Alagh’s Mamaearth for the first time since inception had posted a profit for FY22 at INR 14.44 Cr after suffering losses of Rs. 1,332 crore in FY21 and ₹428 crore in FY20. Also the company has reported a 4 crore net profit for the first half of FY23. So the company has just lately begun turning profitable. Also a recent Mint news report states that they are going for an IPO at a valuation figure of INR 24000 Cr. 24000 Crore when the profits are just 14 crore !!!!!! 😱
“BharatPe’s total loss stood at Rs 5,594 crores in FY 2022. In FY 2021, the company had recorded a total loss of Rs 2,961 crore. Ashneer Grover was recently removed from the company so these losses will be also under his leadership since he was the CEO for the major part of the FY22.
“Anupam Mittal is the owner of brands like Shaadi. com, Makaan .com, Mauj Mobile. Except Shaadi other brands are either dead or not making enough money. Even Shaadi’s financials are NOT known in public except one recent report about its future IPO that may or maynot arrive since one such attempt was also made in 2009.
“Namita Thapar is NOT the founder of her company Emcure Pharma. It’s her father who started it and still is its CEO. So her credentials seem similar to that of Ananya Pandey in Bollywood. (Did somebody hear nepotism 🙄)
“Amit Jain’s CarDekho posted losses of ₹246.5 crore in the financial year 2021-22.