Shark Tank India has gained a lot of popularity since its inception and has ignited a zeal within its fans to achieve their dream of becoming an entrepreneur. A lot of us must have been under the impression that the sharks are making millions, however, this myth has been debunked by a Linkedin user.
Ankit Uttam, an Authorpreneur and Marketer, took to his official LinkedIn handle to give his opinion on the Indian version of Shark Tank. He stated his reason why the show did not work for him unlike the US version stating, ”In the US version of the show, every judge is running businesses that actually turn a profit instead of riding on VC money or drowning in huge losses”.
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.
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 FY22.
He also pointed out Anupam Mittal’s endeavors stating that they are ‘either dead or not making enough money’. The viral post also claimed that Lenskart ‘posted a consolidated loss of INR 102.3 Cr in FY22’. For Namita Thapar, he compared her to Ananya Panday of the Business world.
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.” The new entrant of Shark Tank Season 2 Amit Jain’s CarDekho posted losses of ₹246.5 crore in the financial year 2021-22.
Amid all the sharks’ losses, Aman Gupta came out as a winner as his company BOAT has been profitable since its inception. The Linkedin user called Shark Tank India Ekta Kapoor’s rendition of the more interesting US version of the show.