Since Ashneer Grover’s exit after the first season of Shark Tank India, conflicts among the ‘sharks’ have noticeably decreased. However, the latest episode witnessed a fiery exchange between Anupam Mittal and Ritesh Agarwal. Alongside them, the panel included Vineeta Singh, Namita Thapar, and Kunal Bahl. Over time, Anupam has often been the target of age-related jokes from his fellow ‘sharks,’ handling them sportingly.
Table of Contents
ToggleBut in this episode, featuring husband-wife entrepreneurs Sahil and Arunima, Anupam’s patience seemed to run thin when Ritesh made a similar remark.
The duo pitched their luxury goods servicing brand, Sneakinn, asking for ₹90 lakh in exchange for 3% equity, valuing the company at ₹30 crore. They identified a gap in the market for servicing, repairing, and refurbishing high-value goods like luxury shoes and bags. Boasting a revenue increase to ₹7 crore in just four years, they revealed plans to establish physical stores across various cities.
Ritesh compared their business to the diagnostics industry, saying
, “Earlier, every store provided testing services, but later centralized testing facilities with city-wide pickup centers emerged, boosting profit margins disproportionately.” ‘
Vineeta rolled her eyes at his analogy, while Anupam quipped, “Aap bimaar jooton ki laboratory banayenge.” Ritesh fired back with a witty retort,
“Humare yahan vriddhawaste aur bimaar ke aaspaas ke sharks hain, unko bhi saath leke chalenge,”
eliciting hearty laughter from Namita and Vineeta. However, Anupam wasn’t amused and responded sharply,
“Chalo, aap yeh toh samajh gaye aapka baap kaun hai.”
The competition heated up when Ritesh offered ₹45 lakh for 5% equity and the remaining ₹45 lakh as debt for 10%. Meanwhile, Vineeta and Anupam teamed up to propose ₹90 lakh for 10% equity, adding a 1% royalty condition. This drew criticism from Kunal, who highlighted Anupam’s usual disdain for royalty deals, calling them equivalent to devaluing a company. Namita advised the entrepreneurs against accepting such terms, warning,
“It’s very bad for your business,” while Vineeta added, “Hello, I’m also there.”
Anupam eventually agreed to drop the royalty clause but made it clear that doing so would exclude Vineeta from the deal. The founders tried negotiating but lost Ritesh’s offer in the process, as he sensed their inclination towards Anupam. With the upper hand, Anupam pushed for 6.5% equity, threatening to withdraw his offer entirely. The entrepreneurs ultimately accepted the revised terms and walked away with the deal.