Doglapan much? contrary to our belief, all Shark Tank India judges except Aman Gupta have incurred huge losses
A LinkedIn user made a rather shocking revelation on how except for Aman Gupta, all the judges of Shark Tank India have incurred losses in their companies.
If you ever thought that all the no-nonsense judges of Shark Tank India who brainstorm for some heavy investments like life king-size in their real life, it’s time to break your bubble. A LinkedIn user shared a post that is fast becoming viral wherein it was said that apart from BoAt founder Aman Gupta , the rest of the sharks namely Vineeta Singh , Ghazal Alagh, Anupam Mittal, Namita Thapar , Ashneer Grover Peyush Bansal, and Amit Jain have incurred mammoth losses when it comes to their company. Ankit Uttam, an author and marketing expert took to his LinkedIn account to share the same, giving his reasons as to why the Indian version of the business show never worked for him.
Ankit shared on the now-viral post, “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." He then started pointing out the losses on the companies of each of the sharks. For Vineeta Singh’s SUGAR Cosmetics, he said, “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." While for Ghazal Alagh’s Mamaearth, he stated, “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 INR 24000 Cr. 24000 Crore when the profits are just 14 crore.”
For Ashneer Grover’s BharatPe, the LinkedIn user said, “BharatPe's total loss 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.” While for Shaadi.com’s Anipam Mittal, he said, “Anupam Mittal is the owner of brands like Shaadi. com, Makaan .com, Mauj Mobile. Except Shaadi other brands are either dead or not making enough money. Even Shaadi's financials are NOT known in public except one recent report about its future IPO that may or maynot arrive since one such attempt was also made in 2009.” Take a look at a part of his LinkedIn post.
The user said about Peyush Bansal’s Lenskart stating, “Peyush Bansal's Lenskart posted a consolidated loss of INR 102.3 Cr in FY22. Enough said” and shockingly compared Emcure Pharmaceutical’s Namita Thapar to Ananya Panday. The post read, “Namita Thapar is NOT the founder of her company Emcure Pharma. It's her father who started it and still is its CEO. So her credentials seem similar to that of Ananya Pandey in Bollywood.”
Lastly, Ankit Uttam also roasted the new entrance to the Shark Tank India panel, CarDekho’s Amit Jain, and said, “Amit Jain's CarDekho posted losses of ₹246.5 crore in the financial year 2021-22.” Uttam added that it is only Aman Gupta’s BoAt that has been profitable right since its inception. Lastly, the user also called Shark Tank India Ekta Kapoor's rendition of the more interesting US version of the show.