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During an exciting segment of 'Shark Tank India,' a contestant's pitch for an innovative one-tap commute card divided the judges. Anupam Mittal pointed out the absence of distinguishable elements, declaring the idea non-investable, but Aman Gupta saw a diamond in the rough and became the sole financier.
The latest season of ‘Shark Tank India’ has been filled with a lot of ups and downs. In one of the latest episodes of season 5, the sharks in the show ended up having a difference of opinion over the pitch of a company that had come on the show seeking funds for their one-tap commute card.
While Anupam Mittal was against the business itself, Aman Gupta gave into the pitch and was the only shark to invest in the venture.
Anupam Mittal and Aman Gupta face differnce of opinion
Team members Harshvardhan Zaveri, Aman Bisht, and Shikha Chouksey were featured in one of the businesses of the latest episode of ‘Shark Tank India season 5.’ Their pitch was about a brand new one tap card that could be used for public transportation across the country, as well as for commercial and retail purchases to a certain extent. While the idea was intriguing to the sharks, Anupam Mittal was the first to comment against it entirely. While talking about their product, the sharks pointed out a lot of inconsistencies with their product. Kunal Bahl, another famed entrepreneur and judge on the show, pointed out that they do not have a unique selling point. Mittal was also quick to comment, “I think you have understood that there is no differentiation in your product.
You are just the first to market, and you want to capitalise on that.” The company had been valued at Rs 50 crore, with the team members requesting Rs 50 lakhs for 1% of equity in their firm.There was another aspect that made the sharks angry during the pitch. This surrounded the team’s claim that they were the only company in the market that needed and had obtained permissions and compliance. When one of the judges asked them to clarify and confirm this, they changed their statement and cited that they were one of the two companies in the market.
Sharks backout, however, Aman Gupta stays and invests
Later, Mittal, the famed owner of a popular matchmaking site, was the first to give up. While commenting about how he could not get their product or the appeal behind it, he also added, “This business is not fundable. It is not even a business. Mujhse nahi hoga (I cannot do it).” Namita Thapar and Kunal Bahl followed behind with similar reasoning.
English (US) ·