Shark Tank India S2 : Sharks drowning in losses
Despite investing crores in other businesses, most Shark Tank judges are in losses
21 January 2023
While Shark Tank India might be an immensely popular show with idealistic judges, the reality seems much different
LinkedIn user Akarsh Uttam’s post recently went viral where he claimed that unlike Shark Tank US, all judges on shark tank india are running loss-making companies, with the exception of Aman Gupta
His statements quickly went viral on social media causing a huge shock to readers
People are praising the inventive ideas and enthusiasm of aspiring Indian entrepreneurs who are pitching their goods and services to investors in the second season of the business reality show Shark Tank India, which is currently airing. Shark Tank India's major objective is to support aspiring business owners by persuading some of the biggest and most successful CEOs in the nation to invest in their ventures.
After the success of their reality programme, many people looked up to the Shark Tank India judges as brilliant marketers and driven businesspeople, but the actual numbers and results of their own company wouldn't persuade you in the same way.
You probably believed that the judges of your favorite programme, Vineeta Singh, Ghazal Alagh, Anupam Mittal, Namita Thapar, Ashneer Grover, Peyush Bansal, and Amit Jain, were making a tonne of money, but a Linkedin user has popped the myth for many of us with his assertion.
According to a social media post by Ankit Uttam which is going viral, all of the investors on the show, with the exception of BoAt co-founder Aman Guta, are experiencing significant losses.
Apply to Xartup Fellowship
Talking about businesswoman Vineeta Gupta, the co-founder and CEO of sugar cosmetics, he wrote: "Vineeta Singh’s SUGAR Cosmetics reported a loss of INR 75 Cr in FY22 up from INR 21.1 Cr in the fiscal year FY21.”
In the case of Shaadi.com founder Anupam Mittal, Uttam writes : Except Shaadi other brands are either dead or not making enough money. Even Shaadi’s financials are NOT known in public except one recent report about its future IPO that may or may not arrive since one such attempt was also made in 2009.”
“Peyush Bansal’s Lenskart posted a consolidated loss of INR 102.3 Cr in FY22.” according to Uttam.
Amit Jain, founder of Cardekho and a new shark this season “posted losses of ₹246.5 crore in the financial year 2021-22.”
In a different form of criticism for Namita Thapar, the executive director of Emcure pharmaceuticals, he writes : “Namita Thapar is NOT the founder of her company Emcure Pharma. It’s her father who started it and still is its CEO. So her credentials seem similar to that of Ananya Pandey in Bollywood. (Did somebody hear nepotism).”
Aman Gupta, co-founder of BoAt, is the only judge whose company has been profitable since its inception, as stated by Uttam. His message quickly gained popularity on other social media sites in addition to LinkedIn.