PremiumShark Tank India | This is what OYO CEO Ritesh Agarwal said after pitcher turns down his huge offer - 'Kingmaker bhi...'
In Shark Tank India, it is not unusual for pitchers and sharks to walk away from deals, but one particular instance has drawn a lot of attention since the pitcher rejected Ritesh Agarwal's offer.
Last Updated: 03.24 PM, Mar 04, 2024
While it is common for sharks and pitchers to back out of deals on Shark Tank India Season 3, OYO Rooms CEO Ritesh Agarwal must have been shocked when a pitcher turned down his rather generous offer. This incident has drawn much attention, especially since the pitcher rejected Agarwal's offer, which was more than what the pitcher originally asked for.
What! Pitcher refuses OYO CEO Ritesh Agarwal's offer?
Anupam Mittal first offered Rs 60 lakh for 10% equity in Matri, a company that sells a portable, rechargeable device that promises to lessen menstrual pain, as per a video from the recent episode that has since gone viral. This makes for a total valuation of Rs 6 crore. Vineeta Singh offered Rs 60 lakh for 6% of the company's shares, while Namita Thapar matched it. After learning of this, Mittal modifies his offer and extends Rs 60 lakh in exchange for 4% equity.
As the show progresses, Aman Gupta makes an offer of Rs 60 lakh for 4% equity, which Namita then matches. Amid all of this, Ritesh Agarwal says to the pitchers, “I feel it is my responsibility to make you a good offer. I offer you only 4 per cent, but in exchange, I will give you Rs 1 crore." But instead of accepting Agarwal's offer, the founders Roni Mondal and Rohan Roy asked Namita if she would join Aman Gupta's proposal.
After the video became widely popular, Agarwal said, “No problem, I was trying to improve the valuation of an entrepreneur... could be of some help that’s all that matters. I am there to help the founders succeed and that is still happening. Sometimes, kingmaker bhi hona chahiye (one has to be a kingmaker too)."
Netizens react to Ritesh Agarwal's offer
However, many people have now said that the pitchers erred in rejecting the OYO CEO's offer. One Instagram user wrote, "Ritesh is the best shark... they are going to regret not choosing him." Another said, "Ritesh is a wonderful human being and the most humble shark." “Other Sharks’ Net Worth: 500-700 cr. Ritesh Agarwal’s net worth: 16000 cr 🔥🔥 No competition,” one netizen mentioned, while another recalled, “A former shark said, Hindustan mein kisi ko maths nahi aati.”
