Shark Tank India 3: Third-generation toy maker keeps negotiating his deal; Aman Gupta threatens to back out
The second pitcher in the Shark Tank India 3 episode is a third generation toy maker – Abbas Gabajiwala, 34-yr-old. He gauges everyone’s interest by showing his scientific interactive toys. His ask is Rs 80 lakh for 2% equity.
Vineeta Singh happens to be aware of his father’s business as well. The Sharks also call his father and brother, who have their independent businesses.
They want to know more about their individual interests and vision of their business. Peyush asks Abbas about their different business and Aman Gupta tells them, “Arre unka bhaiyon me achha business chal raha hai. Sab sahi hai, kyu ladai karwa rahe ho?”
Aman makes a deal and Peyush and Anupam keep asking Abbas questions. Aman keeps interrupting them with the toys. Abbas requests to answer one of their question and Aman says, “Woh log rukenge nahi.” Aman has a condition that he gets the option to buy Abbas’ shares of his brother’s company shares in case of family conflict. Abbas agrees to it saying he is confident that there would be no conflict.
Aman first offers him a deal with debt and Abbas refuses that saying he is not in proft making as of now. Aman takes Ritesh aside to join him in the deal. Vineeta and Anupam also make a deal.
Aman and Ritesh give him a fresh deal. Peyush also makes an offer.
Abbas takes two minute to decide and call his wife, who is COO. Peyush finds it problematic that Abbas didn’t mention his wife’s role before. However, Anupam sides Abbas saying that he might not be deliberately doing that.
Abbas comes back with a counter offer, and Vineeta and Anupam back out. Aman gives him a last offer and says if he doesn’t agree he will back out. Abbas says, “I won’t negotiate but can I ask if Peyush has anything in mind?” Aman says, “You are doing the same thing. Say yes or no…” Peyush discusses with Abbas and Aman interrupts saying, “Bhai we are talking for a long time, say yes or no or I’ll back out.”
Abbas wants to take 5 seconds and Aman says he is out. Abbas says that Shark Tank opportunity comes only once. However, Aman gives him the option to take the deal with no further negotiation. He gets the deal from Aman and Ritesh for Rs 80 lakh for 4% equity along with the conditional offer.
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The third pitcher of the day is Saurav Kumar Sinha, founder and CEO of a Smart Digital House platform app. The Sharks give proper advice on how to go ahead with the app. Ritesh tells him to focus on a particular place. Anupam tells him to join someone and became a good entrepreneur by using his energy at this stage. He gets no deal.
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