Shark Tank India judges have been looked up to as marketing geniuses and ambitious entrepreneurs by many after the success of their reality show but the real life statistics and performances of their own business wouldn’t convince you as much. You must have thought that judges of your favourite show- Vineeta Singh, Ghazal Alagh, Anupam Mittal, Namita Thapar, Ashneer Grover Peyush Bansal and Amit Jain are minting money, but this has been refuted by a Linkedin user who has burst the bubble for many of us, through his claim. A post going viral on social media claims that apart from BoAt co-founder Aman Guta, all of the investors on the show are suffering huge losses.
Ankit Uttam, an Authorpreneur and Marketer, took to LinkedIn to revealed why Shark Tank India never worked for him, not even the first season, in comparison to the show’s US counterpart.
He wrote, “In the US version of the show, every judge (Barbara Corcoran, Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary) is running businesses that actually turn a profit instead of riding on VC money or drowning in huge losses.”
“Vineeta Singh’s SUGAR Cosmetics reported a loss of INR 75 Cr in FY22 up from INR 21.1 Cr in the fiscal year FY21.”
“Ghazal Alagh’s Mamaearth for the first time since inception had posted a profit for FY22 at INR 14.44 Cr after suffering losses of Rs. 1,332 crore in FY21 and ₹428 crore in FY20. Also the company has reported a 4 crore net profit for the first half of FY23. So the company has just lately begun turning profitable. Also a recent Mint news report states that they are going for an IPO at a valuation figure of 24000 Crore.
The total loss of BharatPe stood at Rs 5,594 crores in FY 2022. In FY 2021, the company had recorded a total loss of Rs 2,961 crore. Ashneer Grover was recently removed from the company so these losses will be also under his leadership since he was the CEO for the major part of the FY22.
Also, Peyush Bansal’s Lenskart posted a consolidated loss of INR 102.3 Cr in FY22.
The total loss of BharatPe stood at Rs 5,594 crores in FY 2022. In FY 2021, the company had recorded a total loss of Rs 2,961 crore. Ashneer Grover was recently removed from the company so these losses will be also under his leadership since he was the CEO for the major part of the FY22.
Also, Peyush Bansal’s Lenskart posted a consolidated loss of INR 102.3 Cr in FY22.
Shark Tank India is an Indian business reality television series that airs on Sony Entertainment Television. The show is the Indian franchise of the American show Shark Tank. It shows entrepreneurs making business presentations to a panel of investors or sharks, who decide whether to invest in their company.
The program features a panel of potential investors, termed as “Sharks”, who listen to entrepreneurs’ presenting ideas for a business or product they wish to develop. These self-made multi-millionaires judge the business concepts and products pitched and then decide whether to invest their own money to help market and mentor each contestant. The host of the show was Rannvijay Singha for the first season and was replaced by Comedian Rahul Dua for second season.
