A husband-wife team stepped onto the Shark Tank India stage with confidence, ready to pitch their innovative brand, Good Monk. They claimed their supplements were unlike any other, completely tasteless. To prove their point, they set up a taste test for the ‘sharks.’ Two identical dishes were placed before them, one containing their supplement and the other without. The judges took their bites, examined the flavors, and attempted to pinpoint the altered dish. None of them could tell the difference. The founders exchanged knowing smiles.
They were seeking Rs 1 crore in exchange for 1.67% equity, valuing their company at Rs 60 crore. As they laid out their business journey, they revealed they had already secured over Rs 12 crore in funding. But one revelation left the sharks in disbelief, they were burning through Rs 45 lakh every month. When they disclosed that 85% of their spending went into marketing, the reactions were immediate.
Kunal Bahl’s response was swift. He opted out without offering any reasoning, simply advising them to “focus.” Ritesh Agarwal and Azhar Iqubal also backed away, expressing doubts about the sustainability of their financial strategy.
Vineeta Singh, however, saw potential but had concerns. She criticized their marketing strategy, suggesting that instead of spending crores on ads, they should have roped in a well-known face. “India Kareena ki sunta hai when it comes to skincare,” she remarked, referencing her decision to bring Kareena Kapoor Khan as a brand ambassador for her Korean skincare line. She then made them an offer: Rs 50 lakh for 1.25% equity and another Rs 50 lakh as a loan at 10% interest, under one condition, they must slash their marketing expenses.
As Vineeta was laying out her terms, Aman Gupta dramatically pretended to stab himself in the heart. He later admitted that he was considering making an offer but would have asked for at least 10% equity.
The founders stepped aside to deliberate. When they returned, they countered Vineeta’s proposal. But she stood firm. There was no room for negotiation. Understanding the value of the opportunity, they accepted her deal.
A deal was made, but more than that, a lesson was delivered, spending money isn’t always the way to scale. Sometimes, a single influential voice can do what millions in marketing cannot.