On the latest episode of Shark Tank India Season 2, shark Vineeta Singh, co-founder of SUGAR Cosmetics, gets emotional while listening to a middle-aged entrepreneur couple, Jasmine Kaur and Chetan, who own 'Green Snack Co' a healthy snacks business, as she remembers the time when she had only Rs 10 lakh in her bank account.
Before she offered a deal to the entrepreneurs, Singh says, "This rock bottom journey that you see and learn from as a founder is always special, and I have seen those days with Rs 10 lakhs in my bank.”
Pitch and Offer
After the pitch from the founders, the Sharks tried the snacks and saw the packaging. They realized that the product used 1,130 ml of sodium per 100 grams, which makes them question if it is 100 per cent healthy.
After evaluating the profit and loss of the company, the four sharks backed out, however, Singh still seemed interested. She asks them what they will do if they are rejected from here and what their plans are for the next five years. She says she understands their situation as she was also in a similar situation at one point. After little consideration, she offers them a deal of Rs 1 crore for 8 per cent equity, for a valuation of Rs 12.5 crore.
The founders had asked for Rs 1 crore for 2 per cent equity with a valuation of Rs 50 crore. But they accept Singh's offer.
When Aman Gupta, the co-founder of boAt asks her if she was crying earlier, she says maybe just one drop.
