Shark Tank India 3: Here’s why Anupam Mittal termed the pitchers expansion plan as ‘SUICIDAL’!

The ongoing season of Shark Tank India, which is in its third season, is being touted as one of the most watched seasons as compared to the previous two seasons. While this particular claim is definitely debatable, one cannot discount the fact that this season of the show has really brought out the entrepreneurs from the length and the breadth of the country. 

While there are some ideas that have really blown off the minds of the sharks and the viewers, there are others, which the sharks have discarded upfront! One such pitch was that of ‘Eatverse’, a Kolkata based multi-brand cloud kitchen business that Anupam Mittal found to be ‘suicidal’!

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"Rs. 1 crore for an equity of one percent, for a valuation of Rs. 100 crores!"

Yes… you heard it right. The upcoming show will see three entrepreneurs viz., Harsh Kandoi, Pulkit Kejriwal and Aadarsh Choudhary, who enter the show with their brand ‘Eatverse’, which happens to be a multi cloud kitchen of as many as eight brands. After their dramatic entry on the show, they pitch in with their ask before the sharks to the tune of Rs. 1 crore for an equity of one percent, for a valuation of Rs. 100 crores.

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Pitchers started their multi crore business venture a mere sum of Rs. 10,000!

As a part of their introduction, the three pitchers told that they had started off their business with a mere sum of Rs. 10,000, which today, has reached the magical multi-crore figures. In other words, after having started off with humble beginnings, the three pitchers are enjoying great profits in their cloud kitchen venture.

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After having heard the three pitchers, Aman Gupta told the trio to immediately change their brand’s slogan, which, he felt, takes away the entire charm of the brand and the work that they are doing under the brand. Secondly, he also said that the entering a new geographical location with this kind of business margin was suicidal. He also advised them to better concentrate on Kolkata itself and scale their business on a larger scale there itself.

He also, very clearly explained that, even though they were thinking of expansion in Delhi, the ones who are already existing in Delhi will not even allow them to enter the city with this business. He also mentioned that, despite being in the business for ten years, they are still at 1.7 percent of the market share.