In the recent episode of Shark Tank India season 3, Aman Gupta got upset with a pitcher and tore up his cheque of Rs 10 lakh. Initially, two brother entrepreneurs impressed sharks with their pitch. However, Aman got irked when the pitchers asked for a 50-hour commitment from him, which he completely refused.
Here’s What Happened In Shark Tank India 3:
Two brothers pitch their food brand and leave sharks stunned when they reveal that they have opened 150 outlets across India in the last 17 months. The sharks then tasted burgers, fries, and mojitos and mentioned that the taste of their food items was really good. The pitchers asked for an investment of Rs 1.5 crore in exchange for 1% equity, which means that they valued their brand at Rs 150 crore.
While Anupam Mittal, Peyush Bansal and Vineeta Singh backed out of the deal, Aman Gupta and Ritesh Agarwal shared that they were interested. They offered the pitchers Rs 10 lakh each in exchange for one per cent equity and the remaining Rs 1.3 crore as debt. However, the brothers made a counteroffer of 100 hours of time for one per cent equity and Rs 1.5 crore debt at the interest rate of 10 per cent.
Aman Gupta expressed his hesitation and made it clear that he would not be able to commit time. The pitchers then asked for 50 hours of time but Aman completely refused. “Oh bhai sunn, I know what you are saying but main tereko aise ghante commit nahi kar sakta," he said and explained that he does not want to make false promises.
On the other hand, Ritesh mentioned that he had no issues with committing 25 hours a week.
When the pitchers insisted on hour commitment, Aman tore down his cheque and told them that he backed out of the deal. Ritesh also withdrew his offer. “You’re indecisive, and for that reason, I’m out," he said.
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