Peyush Bansal wanted to close a deal with the influencer-based payment card brand on Shark Tank India season 3
Lenskart CEO Peyush Bansal was in for a pleasant surprise when he discovered that a brand on Shark Tank India 3 had already partnered with his company. This brand was an influencer-based payment card brand, who introduced the concept to the sharks in the latest episode. The brand ensures that every subscriber automatically becomes an influencer thanks to them. They hoped for Rs. 50 Lakhs for 0.5% equity at the valuation of Rs. 100 crores.
Peyush, sharks notice Lenskart
Interested in knowing more, the sharks asked the brand to introduce themselves. While doing so, they also introduced their partners. Much to people’s surprise, including the sharks, they noticed Lenskart was among one of the partners with the brand already. Anupam was the first person to spot the brand and on realizing the same, Peyush said that he was unaware about the collaboration. With the card, the purchaser gets 60% return. On hearing so, Peyush joked that they should return Rs. 600 to him, since his company is one of the brands bearing the discounts.
Azhar’s mistake, Peyush taking his class
Excited about the concept already, Azhar Iqubal tried to strike a deal. He offered Rs. 50 lakhs for 5% equity. That is when Peyush stepped in and told the inShorts owner that they haven’t asked the pitchers what amount they have already taken from their previous investors. On realizing so, Azhar took action and Peyush took his class. “Isliye toh aap junior ho,” the Lenskart CEO said.
Anupam cracks the deal
All the sharks wanted to invest in the brand. Azhar retained his offer and Namita Thapar joined hands with him. Amit Jain went ahead with an offer of 11 Lakhs for 0.2% equity and Rs. 39 Lakhs at 12% interest for 3 years. Anupam tried to one-up them by offering Rs. 50 Lakhs for 3% equity. Despite already being associated with the brand, Peyush still went ahead and offered Rs. 50 Lakhs for 2.5% equity. Amit then matched the offer the pitchers made. Anupam added 1.5% equity to the same. Still not convinced, Peyush joined hands with Azhar and Namita and offered Rs 75 Lakhs for 1.5% equity. Soon after, Anupam pitched the same offer alone. A small discussion later, Anupam’s offer was accepted.