Shark Tank India 3: Aman Gupta rejects starting offer, praised by PM Modi says: 'It's an outdated product'
Judge Aman Gupta of Shark Tank India recently rejected a bid from a start-up company that was praised by Prime Minister Narendra Modi. However, Aman called their product outdated and explained why it is not a business.
Shark tank India 3: The popular business show is one of the most watched shows in India and is slowly gaining momentum. In a recent episode of Shark Tank India Season 3, Aman Gupta turned down a startup pitch that received rave reviews from Prime Minister Narendra Modi. The founders of Daak Room, a startup focused on promoting physical writing through campaigns and products, presented their company. They asked for Rs 36 lakh in return for a 4 percent stake in their company. Look what 'Shark Aman Gupta did next.
Shark Aman Gupta Rejects Daak Room Founders' Pitch, Adds: 'It Is Not a Business'
The founders of Daak Room said during their pitch that their startup received rave reviews from Prime Minister Narendra Modi. They announced that Prime Minister Modi had sent them an encouraging letter and praised their company for motivating the younger generation. Boat Company CEO Aman Gupta declined the pitch, stating that it does not qualify as a business. “This was common in ancient times. It's not a business. I do this because I don't share the same passion for writing as you, so I can't add any further value (sic).” Aman explained.
Entrepreneur and business professional Peyush Bansal (CEO of Lenskart) chose not to invest in Daak Room and instead advised the founders to transform their company into a stationary brand. “I'm having trouble understanding the exact service you offer and what your revenue model is (sic),” Peyush commented. However, the founders of Daak Room got an investment of Rs 36 lakh from Ritesh Agarwal in return for a 6 percent ownership stake. Moreover, Ritesh stipulated that his stake would drop to 5 percent if the brand achieved the expected sales.
Everything you need to know about season 3's sharks
The popular business show has drastically gained popularity among Indian audiences, following the end of season one and two of Shark Tank India Shark. The business model show made a comeback with its third season on January 22, 2024. The new season featured well-known sharks from previous seasons such as Namita Thapar, Aman Gupta, Peyush Bansal, Anupam Mittal and Vineeta Singh, along with new additions to the series. panel including Amit Jain, Ritesh Agarwal, Azhar Iqubal and Radhika Gupta.
If you are interested in watching business model shows, stay tuned as we discuss the latest updates of Shark Tank India Season 3!