Shark Tank India 3 give second offer to the OYO Aman Gupta hands over cheque to pitchers
Shark Tank India 3 give
second offer to the OYO
Aman Gupta hands over cheque to pitchers
The new episode of business reality show ‘Shark Tank India 3′ saw a pitch by Anand Nahar along with his brother Amrit, for their fast food brand ‘Zorko’, leaving not only Ritesh Agarwal, founder and CEO of OYO Rooms, but also the other sharks much to their bewilderment.
However, the real surprise was when Surat based out Anand disclosed his earlier interest in investing in OYO, narrating his journey of reaching out to the company and even sending a personal email to Ritesh.
Upon explaining his idea behind opening the fast food chain, the pitcher shared he wanted to invest in OYO as well and had even sent mail. The call centre people couldn’t understand what he wanted to say. He used to call continuously but it couldn’t happen and then he reached 10 million.
Anand further verified his claim by sharing a screenshot of the email he sent and Ritesh was amused by the unexpected turn of events.
Although the sharks found the pitch and the brothers entertaining and intriguing, eyebrows were raised when they demanded Rs 1.5 crore for one percent equity.
Aman Gupta, co-founder and CMO, BOAT, and Ritesh offered them Rs 20 lakh for one percent equity, plus Rs 1.3 crores debt at 10 per cent interest for three years.
Thereafter Amrit and Anand gave a counter offer of 100 hours for one per cent equity plus Rs 1.5 crore debt at 10 percent interest for three years.
Listening to their counter offer, Aman said that he can’t commit hours. If he likes him he can sit with his team, and him, and can learn. But he can’t commit like this. He doesn’t want to make a false commitment. If he feels to do something, he will do otherwise won’t.Right now he wants to support him , their energy is right, they need some directions.
Amrit and Anand gave another counter offer which was 50 hours for one per cent equity plus Rs 1.5 crore debt at 10 per cent interest for three years.
Hearing the offer, Ritesh said that he doesn’t have a problem in committing hours, they can take 20 hours commitment from him , but from Aman’s side they have to put their trust and believe him.
Despite securing a deal from the sharks Ritesh Agarwal and Aman Gupta, the brothers’ counter-ask for committed advisory time left Aman frustrated, leading him to tear the cheque in response to their indecisiveness.
Aman added that Ritesh got frustrated on their indecisiveness, and said he is out. Aman also said he is out, tearing the cheque. “Bhai please excuse me.
News Edit K.V.Raman
