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The latest episode of Shark Tank India 4 had a bunch of innovative pitches, the first one being Pitcher Mayur Gediya from Surat. The pitcher owns a clothing business that provides custom-made semi-stitched lehengas. He began his pitch by asking the sharks to guess the price of the lehenga on display. Kunal wins the bet and he decides to gift the lehenga to Vineeta. Further into the pitch, Mayur talks about the speciality of his products, his curation and more. His ask is Rs 1 cr for 2% equity on the valuation of Rs 50 crores. Aman asked about the cost of the outfit he wore to which he shared that it was worth Rs 10,000.
As he shared the products with Sharks, Kunal and Ritesh asked him about his social media reach, where Mayur mentioned that he had 2.2m followers on YouTube and around 800k on Instagram. Sharks then asked him to share his most viral content, Mayur’s one reel crossed 47 million views which left the sharks stunned. Mayur explained that people were interested in watching the process of how the lehenga has been stitched.
Aman says, ‘Sir you got mad skills.’ Ritesh then asks about the Unit Economics. Mayur shared that the sales doubled due to his social media skills. Vineeta asked about his team for social media to which Mayur shared that he did all of it alone. He has a camera person who shoots the videos for him but editing, posting and everything else is solely handled by him. Aman says, ‘Remove your team, Namita.’ Namita curiously asks about the amount of content he posts monthly. Mayur shared, ‘Around 20-25 posts every month.’
Impressed by Mayur’s social media skills, Aman says, “I am saying this on camera, abhi sabke saamne apni team ko bola jaata hai ki aap jo 25 log hai aur yeh aadmi. Look at him.” Namita also shared how she has different teams and agencies for social media management. Further discussing the challenges and the drawbacks of the business, Kunal asks Mayur about his goal. Mayur shares, ‘I want to make a business of Rs 1000 crores in the coming decade.’
Namita walks out of the deal, and Vineeta also opts out. Ritesh gives an offer of Rs 1cr for 5% equity. Kunal then shared, “There is a stereotype around startup founders and their image that they are all IIT or IIM graduates, you are completely different from that and that is great. A founder like you inspires the youth. You don’t need any framework that is taught in these business schools. You built this with logic.” Kunal matches Ritesh’s deal while Aman backs out.
Mayur tries negotiating and asks for 3% equity. The counter stays open for both and reveals that he wants the higher value for the amount of sales. Ritesh revises his offer to 4% but with a condition that only if he makes Rs 15 crores of revenue then the offer shall change. Kunal asks Mayur to decide which shark he wants. The pitcher requests for both sharks. They come with the same conditional offer and Mayur cracks the deal with both sharks.
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