A trio of founders stepped onto the Shark Tank India stage with confidence, introducing their snacks brand, Eat Better Co. Their pitch immediately grabbed attention, but it was their financials that left the sharks thoroughly impressed. The entrepreneurs shared that they aimed to hit Rs 30 crore in revenue this year. They sought Rs 50 lakh in exchange for 0.5% equity, placing their company’s valuation at Rs 100 crore. What began as a home kitchen had now expanded into a massive 20,000-square-foot manufacturing unit. When they disclosed that just their BlinkIt sales alone brought in Rs 1 crore a month, the sharks sat up with interest.
Multiple investors showed eagerness to invest, though not everyone was comfortable with the valuation. Anupam Mittal was particularly hesitant. While he admired everything about their business, he admitted that the numbers made it tough for him to move forward. He expressed regret at not meeting them earlier, believing it might have changed his perspective. Ritesh Agarwal shared similar sentiments. He praised their products but chose not to invest, instead proposing a potential collaboration through OYO Rooms.
Namita Thapar, however, took a different approach. Although she had concerns about their packaging and a few product claims, the revenue figures convinced her to make an offer. She proposed Rs 50 lakh for 0.5% equity but added a 1% royalty clause until she recouped her investment. Vineeta Singh also stepped in with an alternative offer, Rs 50 lakh for 1.5% equity, with no royalties attached.
The discussion took an interesting turn when the sharks debated exclusive partnerships with e-commerce platforms. Namita saw value in such deals, but Anupam disagreed strongly. He cautioned the founders against giving too much control to distributors, saying they should never surrender power in this way. One of the founders, Vidushi, countered his argument by pointing out that Anupam’s own company, Shaadi.com, had previously entered into a similar deal with Zepto. Namita burst into laughter and applauded her response, calling it a sharp comeback.
Just as negotiations were heating up, Kunal Bahl entered the fray with a bold move. He declared that he preferred substantial investments rather than smaller amounts. Unlike the other sharks, he wasn’t just offering Rs 50 lakh, he put Rs 2.5 crore on the table for 5% equity, effectively valuing the company at Rs 50 crore. He made it clear that he wasn’t interested in royalties, saying that while Namita’s offer preserved valuation, his came with unwavering support from an experienced entrepreneur. He told the founders, “If you want valuation, then go with Namita, but if you want a strong founder who will stick with you for years, then you know who to pick.”
Namita, not one to back down, immediately challenged his statement. She turned to him and asserted that she, too, was a strong founder, making it clear that she could offer long-term commitment as well.
Hoping to maximize their options, the founders asked if any of the sharks would consider teaming up. However, none were willing to join forces. Namita took the opportunity to explain her reasoning further. Equity, she argued, was a permanent stake in the company, while royalties were a temporary setback. She assured them that with their rapid growth, Rs 50 lakh in royalties would barely make a dent in their financials.
After weighing the pros and cons, the trio made their decision. They chose to go with Namita’s offer, prioritizing their valuation over the larger investment Kunal had put forth. The sharks applauded their choice, and Eat Better Co walked away with a deal that reflected both their ambition and their confidence in their future.