'Shark' Aman Gupta refuses to invest in Daak Room, a startup encouraging physical writing via advertising and merchandise, even praised by Prime Minister Narendra Modi.
In a recent Shark Tank India season 3 episode, Aman Gupta rejected a company proposal that Prime Minister Narendra Modi lauded. We witnessed the creators of the startup Daak Room pitch their firm. They stated that Daak Room encourages physical writing through their ads and goods. They then sought Rs 36 lakh in stock in exchange for a 4% interest in their firm.
During the pitch, the founders of Daak Room said that Prime Minister Narendra Modi had also applauded their business. They disclosed that Prime Minister Modi wrote them a letter praising their company for encouraging the next generation.
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We are 75 years young 🇮🇳.
This Republic Day didn’t involve me driving to India Gate with my family. Instead, it was an honor to be invited to the State Dinner at Rashtrapati Bhawan to celebrate India’s historic 75th Republic Day.
This moment reflects the growing respect for… pic.twitter.com/4GshkcK87r
However, Aman Gupta rejected the pitch, saying it is not a business. “This used to happen in very old times. It’s not a business. I am out because I don’t have the same passion for writing like you guys, so I won’t be able to add more value,” he said.
Peyush Bansal also decided not to invest in Daak Room and suggested that the founders transform their business into a stationary brand. “I cannot understand what your exact service that is being offered is, and what your revenue model is,” he said.
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About Daak Room:
Ritesh offered the Daak Room founders Rs 36 lakh for 6% ownership. He also included a stipulation in his offer, informing the pitchers that his ownership would be reduced to 5% if the brand met the expected income.
And it's a Yes!!🥳
We are absolutely delighted to have Shark Ritesh Agarwal with us on this amazing journey!🤩
Our heartfelt gratitude to everyone who supported us in making our dream come true!🤗 pic.twitter.com/HOF48f5513
Shark Tank India returned for season three on January 22, 2024. Shark Tank India Season 3 featured several familiar sharks from previous seasons, including Namita Thapar, Executive Director at Emcure Pharmaceuticals Limited, Aman Gupta, Co-Founder of Boat, Peyush Bansal, Co-Founder and CEO of Lenskart, Anupam Mittal, Founder and Director of Shaadi.com, and Vineeta Singh, CEO of Sugar Cosmetics.
And it's a Yes!!🥳
We are absolutely delighted to have Shark Ritesh Agarwal with us on this amazing journey!🤩
Our heartfelt gratitude to everyone who supported us in making our dream come true!🤗 pic.twitter.com/HOF48f5513
They were joined by new panellists such as Amit Jain, CEO and co-founder of Car Dekho, Ritesh Agarwal, Founder of OYO, Azhar Iqubal, Co-Founder and CEO of Inshorts, and Radhika Gupta, CEO of Edelweiss Capital.