Shark Tank India pitcher earning Rs 1 crore a month just on BlinkIt silences Anupam Mittal for making contradictory statement, scores Namita Thapar’s salute

A trio of founders pitched their snacks company, Eat Better Co, on the latest episode of Shark Tank India. Their pitch left the panel of 'sharks' excited, especially after they revealed their financials. They said that they are aiming for around Rs 30 crore in revenue this year, as they asked for Rs 50 lakh in exchange of .5%, valuing the business at Rs 100 crore. They said that they started as a home kitchen, but now operate their own manufacturing unit of 20,000 square feet. They also revealed that they earn around Rs 1 crore a month just from BlinkIt, which left the 'sharks' even more impressed.

Unsurprisingly, several of them were interested in investing, but Anupam Mittal found that the valuation was simply too high for him to make a reasonable offer. He said that he loves everything about them, and wishes that he was able to meet them earlier. Ritesh Agarwal felt similarly. He praised the products, but said that he couldn't make them an offer. He expressed interest in partnering with them via OYO Rooms. Namita Thapar found fault in their packaging and some of their claims, but upon hearing their revenue, instantly made an offer. She said that she was ready to give them Rs 50 lakh for .5%, retaining their valuation, but wanted royalties of 1% until she recovers her Rs 50 lakh. Vineeta Singh offered the founders Rs 50 lakh, but for 1.5% equity and no royalties.

Namita said that it is common for companies to strike exclusive deals with e-commerce players, which the founders expressed excitement about. But Anupam said that this is a bad idea. "Never hand over power to the distributor, remember this," he told them. One of the founders, Vidushi, retorted by reminding Anupam that his company, Shaadi.com, had struck a deal exactly like this with Zepto. Namita laughed, and saluted her. She said, "Good answer, Vidushi!"

Kunal Bahl was the last one to enter the negotiations. He said that he doesn't deal in small figures, and when he invests, he likes to have skin in the game. He offered the founders a whopping Rs 2.5 crore - five times their ask - for 5% equity, valuing their company at Rs 50 crore. He emphasised that he doesn't want any royalty from them. "If you want valuation, then go with Namita, but if you want a strong founder who will stick with you for years, then you know who to pick," he said. Namita looked at Kunal and replied, "Hello! I'm a very strong founder."

They countered by asking if they would join hands, but none of the 'sharks' was interested in doing this. Namita explained that equity is permanent, whereas royalty is just a temporary hit. She said that at the rate they're going, they wouldn't even notice Rs 50 lakh in royalties. In the end, they picked Namita over Kunal, preferring to maintain their valuation.