Shark Tank India Season 3:
Aman Gupta and Ritesh Agarwal agreed to invest in a joint deal in a Gujarat-based fast-food company in exchange for equity and debt.
Two entrepreneur brothers bagged the sure-shot deal on Shark Tank India by Sharks Aman Gupta and Ritesh Agarwal but blew it at the last moment.
So, why did the deal fall apart?
The entrepreneur brothers made a remarkable speech and laid out their ambitious plans for the future. In exchange for 1% equity, they asked for Rs.1.5 crore.
Zorko the fast-food company operates 150 outlets across dozens of cities in India, and they revealed they want to launch at least eight more new companies with the Shark’s support.
Meanwhile, Vineeta Singh, Peyush Bansal, and Anupam Mittal dropped out of the deal for different reasons, but Ritesh and Aman decided to execute the deal.
Both Shark Aman and Ritesh offered Zorko Rs.10 lakh each in exchange for 1% equity and the remaining Rs.1.3 crore on debt.
Zorko brothers agreed to the deal but were desperate to get 25 hours each from Aman and Ritesh for mentorship.
Aman said that he was uneasy to commit a certain number of hours, and Zorko would just have to trust them. Ritesh was comfortable about committing the hours.
Aman and Ritesh both signed the cheque and Shark Aman even got up to hand over it to the Zorko brothers, but the brothers remained steadfast about getting 25 hours each for them.
Aman said, “Oh bhai, sun, I know what you’re saying, but I cannot commit specific hours to you. If I like you, I can get you to sit with me, and I can introduce you to your team, but I am not going to commit hours as I do not want to make any false promises.
Ritesh said You have to trust Aman. But the entrepreneurs were stubborn in their decision and one of them said “What the fun without a commitment”
Ritesh agreed to his 25-hour commitment and said “Chalo deal pakki” But detecting their reluctance, Aman abruptly backed out and tore up the cheque.
You’re ambiguous and for that reason, I’m out. Watching Aman back out, Ritesh also withdrew his offer as well and the Zorko brothers missed the Rs 1.5 crore deal.
There are 12 new judges on Shark Tank India Season 3 this time. The new sharks on Shark Tank India season 3 are Oyo Founder Ritesh Agarwal, Inshorts Founder Azhar Iqubal and Zomato CEO Deepinder Goyal have made their debut on the show.
Radhika Gupta, Varun Dua, and Ronnie Screwvala will also join Shark Tank India season 3.