MUMBAI : A unique company proposal really touched the judges in the latest episode of Shark Tank India 3. In this digital age, one company seeks to bring back the lost art of letter writing. The owners were surprised when Shark Ritesh Agarwal came up and made a business offer, demonstrating his support for their initiative.
Shivani and Harnehmat, the company's co-founders, presented their venture. The pitchers mentioned that people have lost how to write and mail letters in this day of texting. They said they want to deliver the Sharks letters from their loved ones and close friends, and they want to connect the dil (heart), dimag (brain), and kalam (pen).
Aman Gupta from his daughter, Ritesh Agarwal from his wife, Vineeta Singh from her professor, and Radhika Gupta from her husband and children, Peyush Bansal from his wife received letter. They became emotional after reading the notes; Shark Vineeta Singh started crying.
The Shark Tank India 3 judge revealed that the letter came from her IIT professor, who encouraged her to start her own business. She says, “What he did for me, mujhe lagta hain main Shark Tank pe agar do teen entrepreneur ke liye kar pau, I think it will be a feeling of kaafi pride (I feel if I can do that for 2-3 entrepreneurs on Shark Tank, I will be proud).”
Additionally, Vineeta expressed her gratitude to her professor for his love and support. She asks the company's founders to explain their venture and the motivation behind it. The pitchers ask 36 lakhs for 4% ownership in the company after explaining.
Aman Gupta quits, claiming he cannot with them and adding that he's not sure whether he wants to invest. Furthermore backing down, Peyush Bansal states that he believes the company is motivated more by passion than by business. He went so far as to suggest starting a stationery brand and using letter writing as an extension of it.
After talking with the co-founder, Ritesh Agarwal decided to invest in the company. He made an offer of 36 lakhs for 6% equity of the company. Shivani asked Ritesh for five percent. Ritesh objected and stated a condition. He questioned them about their annual goal. They hope to raise about one crore throughout this fiscal year, according to Shivani. Ritesh continued by saying he would give them back 1% of the equity if they were to meet the goal this year. With joy, the pitchers agreed to sign the contract with Ritesh Agarwal.
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Credit- Pinkvilla
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