Shark Tank India: P-TAL founders who walked away with rare all-shark deal say, ‘We are sending the cheques back’
Shark Tank India: P-TAL founders who walked away with rare all-shark deal say, ‘We are sending the cheques back’
The luxury brassware brand P-TAL, which was featured on the latest season of Shark Tank India, shared a Reel on Instagram thanking the five sharks who invested in the brand. “We are sending the cheques back to all the 5 sharks from Shark Tank India who invested in us,” the brand began its attention-grabbing post by saying, implying that the rare all-shark deal didn’t work out. But the post, and its accompanying video, revealed that not only did the deal work out, it has also brought happiness to the artisans who craft the brand’s brass and copperware items.
The caption of the post continued, “All the 5 sharks in our panel (Aman, Anupam, Amit, Namita, Vineeta) had agreed to put in: Rs 20 lakh each at 0.64% equity; experience, expertise and time; network and connects with relevant helpful individuals. When we went to our artisans and shared this with them, they got overjoyed and had tears of happiness in their eyes. To express their gratitude, we are sending a cheque on their behalf to each of the 5 sharks, paying them love, respect, blessings. And a P-TAL product especially handcrafted by them. Afterall, this truly is the wealth that our artisans possess!”
The accompanying video showed short clips of the artisans, all of whom are from the state of Punjab, expressing their gratitude to the sharks for showing faith and interest in their craft. They also expressed joy at their creations being showcased on television. “It’s been 50 years since I’ve been working with this hammer of mine,” one elderly craftsman said.
On Shark Tank, the three founders of P-TAL successfully pitched the brand, and drew interest from all five sharks – Anupam Mittal, Vineeta Singh, Aman Gupta, Namita Thapar and Amit Jain. While they had initially asked for Rs 50 lakh in exchange for 1% equity, but ended up walking away with a lower valuation but double the money than they’d asked for. “Paisa aur lelo (Take more money),” Anupam suggested, as Vineeta proposed a deal worth Rs 1 crore, for 3.2% equity.
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