Are the Shark Tank judges’ businesses having trouble? Are they in losses?
Shark Tank India is a business reality TV series that airs on Sony television. In the show aspiring entrepreneurs with different business ideas pitch their business models to a panel of investors and persuade them to invest money in their idea.
The judges of shark tank are Aman gupta who is the co-founder of boAt company, Anupam Mittal founder and CEO of people group, Peeyush bansal ceo of lenskart, vineeta singh CEO of sugar cosmetics and Namita Thapar who is the executive director of Emcure pharmaceuticals.
But are the businesses of these judges earning a good amount of profit? As they are the sharks of shark tank india, it is obvious that they must be having a good profit making business. But is this true?
Some days back a LinkedIn user claimed that how the show has never worked for him. He pointed out that the companies run by the judges on the show are actually running into losses. His name is Ankit Uttam and he wrote a long post on the platform last week and it has gone viral now. In his blog post, he compared the Indian version to its US counterpart. Not just that he claimed that the ‘Sharks’ of Shark Tank India season 2 are not credible enough to give business advice to the contestants who come on the show but he also said that their running businesses are drowning in huge losses.
According to him, Ghazal Alagh’s Mamaearth recorded a profit of Rs 144.4 billion in FY 2022 after she suffered a loss of Rs 133.2 billion in FY 21 and Rs 428 million in FY 20. Also, the company reports a net profit of around 400 million. As such, the company has only recently started to turn a profit. Also, according to a recent news report from Mint, they are targeting an IPO with a valuation of INR of 24000 crores for a prize of only 14 crores.
Regarding Ashneer Grover’s appearance in Shark Tank India Season 1, Ankit Utam said that in the 2021 financial year, the company posted an overall loss of £2.961 billion for him. These losses also fall under his leadership, as Ashneer Grover was in command in FY22 as he was sacked from the company in 2022. Anupam Mital owns brands such as Shaadi.com, Makaan.com, Mauj Mobile. Aside from Shaadi, his other brands seem dead or not making enough money with
little to no news in the media. Even Shaadi’s financials have not been made public, with the exception of a recent report on his future IPO, as such an attempt was made in 2009. “
He added that Namita Thapar is only part of her company because her father was the CEO. Enough said! Namita Thapar is not the founder of her company Emcure Pharma. It was her father who founded it and is still its CEO. To some, her credentials may resemble those of Bollywood’s Ananya Pandey ? On the other hand Amit Jain’s CarDekho posted her £246.5m loss in the 2021-22 financial year. ”
The user has come to the conclusion that Aman Gupta’s BoAt is the only profitable business. “To me, the version of Shark Tank India looks like Ekta Kapoor picking up the more interesting US version of the show.”
All of this is actually true because the user has even stated the statistics and made clear points that how these sharks are suffering from losses in their own business. Even the Industrialist Harsh Goenka tweeted a few numbers, which showed how much losses Sharks Namita Thapar, Anupam Mittal, Amit Jain, Peyush Bansal and Vinita Thapar are suffering. The only one Shark to be earning profit is Aman Gupta. Upon this anupam mittal also replied that they don’t bleed red, they bleed blue. Although there are facts available that the businesses of these judges are in losses we cannot say whether they are fit to be the judge of shark tank or not.
NAME- BHAVYA KHURANA
COURSE- BA HONS ENGLISH
UNIVERSITY- DELHI UNIVERSITY (Dyal Singh College)