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Shark Tank India 3: In the latest episode of the popular business show, Shark Tank India saw a one-of-a-kind project. The recent episode of Shak Tank India Season 3, saw a futuristic product with the help of AI. Pitched in by Abhit Sinha, Manoj Shinde, and Danish Jamil introduced their AI-powered beauty mirror. The motive of this product is to help pick the right product for makeup and schedule optimal skin care products needed for routine use. The high-tech GPT software enables them to give a customisable look that helps their customers achieve different make-up looks according to their preferences. Read along.
As the pitch was made the entrepreneurs demanded Rs 1 crore for 0.75 per cent of equity taking their company valuation to Rs 133.33 crore. However ‘Sharks’ Aman, Vineeta, and Anupam were very impressed by their AI-powered mirror technology.
While experimenting with the new AI tool, they continued to test all the modules, and Vineeta’s bridal look turned into a comical disaster. Anupam remarked, “This is the ‘never get married’ look.” Azhar commented that their previous models were superior to the new ones, but Vineeta disagreed, emphasizing the superior use case and revealing ongoing discussions to use their product in their outlets.
Vineeta proposed a deal of Rs 1 crore for one per cent ownership at a valuation of Rs 100 crore. Peyush then expressed interest in acquiring the company and becoming the primary investor with a 51 percent stake at a value of Rs 15 crore. He was prepared to infuse primary capital and dilute existing shareholders. In the thoughts of selling the company ‘Shark’ Aman Gupta interrupted, “Yahan to company shopping ho rahi hai (sic).”
However, Manoj gave a counteroffer of Rs 35 crore for a stake of 51 per cent to buy their company. Later Peyush Bansal backs out of the deals. Later Aman aka Boatman added, “Apni company thodi bech sakte hai 10-15 minute mai. Aap 15 crore mai apna dharam, apna imaan bech ke ja rahe ho. Aap 15 crore mai bik rahe ho (sic).”
Later in the episode when ‘Shark’ Vineeta revises her deal the AI-powered mirror entrepreneurs accept the deal. At the very end in excitement, Aman Gupta walks up to the entrepreneurs and consoles them by saying, “Bhai company bach gayi teri aaj, yaad rakhna mujhe (sic).”
What are your thoughts on Peyush Bansal’s offer to buy the AI-powered mirror company? Do you think what Aman Gupta did was justified? Watch this pace to get the latest updates on Shark Tank India Season 3!
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