Except for Aman Gupta, all Shark Tank India judges drowning in losses, claims viral post
A viral LinkedIn post claims that all the Shark Tank India judges companies are actually drenching in losses. The only profitable business since its inception has been Aman Gupta founded global headphone enterprise, BOAt.
FollowWhile Shark Tank might have become a go-to reality TV show for business-minded people. But this is not the reality for many people. Recently, the author Ankit Uttam detailed why the Indian counterpart of the show has never really worked for him in a viral LinkedIn post.Â
The author highlighted how the companies run by the judges are suffering losses. It is why he did not feel they all are qualified enough to give advice to new entrepreneurs who pitch their ideas on the show. Ankit Uttam started off by mentioning, "In the US version of the show, every judge (Barbara Corcoran, Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary) is running businesses that actually turn a profit instead of riding on VC money or drowning in huge losses."
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Uttam then began collecting information about the businesses run by the Sharks of season 1. He learnt that SUGAR Cosmetics owner, Vineeta Singh, reported a loss of INR 75 crore in 2022, while the number was 21.2 in 2021. He further explained how Mamaearth owner Ghazal Alagh has recently begun earning profit after suffering losses of Rs 1332 crore and Rs 428 crore in 2021 and 2020, respectively.
He added, "The total loss suffered by Bharat Pe stood at Rs 5,594 crores in FY 2022. In FY 2021, the company recorded a total loss of Rs 2,961 crore. Because of which, Ashneer Grover got removed in 2022 from the company. So, these losses will also be under his leadership since he was also at the helm in FY22." The list continued with Peyush Bansal Lenskart suffering a loss of Rs 102.3 crore in 2022.
The author also questioned Namita's positioning as a Shark as the businesswoman is not the founder of Emcura Pharma. He pointed out that her father, had started the firm and still is the CEO. Shedding light on the same, Ankit Uttam adds, "So to some, her credentials may seem similar to Ananya Panday in Bollywood?? Did somebody hear nepotism?."
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In the end, the author stated how Aman Gupta founded global headphone enterprise Boat is the only firm that has remained profitable since its inception. He elucidated, "To me, the Shark Tank India version seems like Ekta Kapoor rendition of the more interesting US version of the show."
