Vineeta Singh doesn’t believe Shark Tank India pitcher’s ‘jhoot’ that his tea can cure PCOD, watch the negotiation
A shark tank india An entrepreneur’s pitch for her organic tea brand has sparked an ideological debate among sharks, in a new clip from the reality show shared by Sony Entertainment Television on YouTube. Some, like Anupam Mittal and Vineeta Singh, were unconvinced by the science behind the entrepreneur’s claims, while others like Aman Gupta said that the benefits of Ayurvedic medicine cannot be proven by scientific methods.
The entrepreneur was asking for an investment of Rs 1 crore on his brand, in return for 5% equity. Immediately, several sharks asked him questions. Peyush Bansal asked if the entrepreneur wanted to highlight the medicinal benefits of his product rather than the taste, and the entrepreneur said yes, definitely.
Vineeta Singh asked the entrepreneur if she claimed her product could fix irregular menstrual cycles and cure PCOD, the entrepreneur replied that it was possible. Anupam wanted proof, but the contractor said the only proof it has is customer testimonials. Vineeta and Anupam said that was not enough, but Aman sided with the entrepreneur and praised the entrepreneur’s “passion, style, attitude and confidence”.
Vineeta also said she was impressed with the entrepreneur’s passion, but had a problem with the “jhoot” she talked about her product. Nevertheless, she partnered with Anupam to invest in the business. Together, they offered the entrepreneur Rs 50 lakh as a loan, and another Rs 50 lakh in return for 30% equity. After consulting Ashneer, Aman entered into a bidding war and offered the contractor Rs 50 lakh as a loan, but said he had no intention of robbing the contractor. For this purpose, he requested 15% equity.
The contractor said she was not willing to go for a valuation lower than Rs 12 crore as she has another interested party. Anupam was unhappy with the withholding of information. Aman presented his final non-negotiable offer: Rs 50 lakh as a loan, and an additional Rs 50 lakh in return for 10% equity. All sharks encouraged her to accept the deal, which would put her business valuation at Rs 5 crore. She had another counter-offer, but Aman said that while he appreciated her instincts, she shouldn’t be “crazy about a penny.”
The entrepreneur asked for a minute to think about it and Anupam praised her for being the real shark in the room. She returned and accepted Aman’s offer, and was hailed by the sharks for making a “right decision”.