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Shark Tank India 4: Aman Gupta visibly LOSES COOL after pitchers deal with Peyush Bansal by giving 51% equity in their company; makes THIS claim
Shark Tank India season 4's latest episode featured an interesting pitch that had a premium stationery and desk accessory brand pitching their business idea.
Shark Tank India season 4 started just recently, and it has already left the audience impressed with the pitchers coming up with new ideas and business models. In the latest episode, a premium lifestyle and accessory brand called NOOE left the sharks debating. Created by Piyush Suri and Niteeca Pande, the company provides customers with luxury desk accessories and modern emotive furniture that reimagines the workspace. During the deal, Aman Gupta visibly lost his cool after the pitchers rejected his offer.
The pitch started with Vineeta Singh asking the meaning behind naming the brand NOOE. To this, her co-shark Peyush Bansal explained that its roots were connected to the 'Never Odd Or Even' palindrome. Eventually, the Sharks queried about the prices at which the pitchers sold their products. Piyush and Neetica stated that their products are priced around 8 to 10 times the cost of the Indian market.
As it continued, many sharks, including Kunal Bahl and Anupam Mittal, paid major attention to the unit economics. Piyush from the NOOE shared a concerning update about the company’s financial health, revealing that they had been grappling with a significant cash burn rate. The situation had escalated to the point where the business was experiencing cash losses accompanied by a staggering debt of Rs 1.2 crores.
Lastly, Kunal, Anupam, and Vineeta decided to opt-out. Aman offered the pitchers Rs 3 crores for 50% equity and mentioned that the remaining 50% would be broken between the two owners, 20% each, and 10% for ESOPs. Bansal matched the offer but wanted 51% of the business. After a few revisions, Aman walked out of the deal, and Piyush-Neetica gave a counteroffer of Rs 5 crore for 51% equity.
Listening to the offer, Aman Gupta said, "You first did not want to give a controlling stake. I gave you a better offer at 30%; I was ready to increase the value." However, NOOE made a deal with Peyush Bansal.
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