A new video takes viewers behind-the-scenes of a deliberation process on Shark Tank India, when two entrepreneurs rejected a rare all-shark offer, leaving at least one, if not all sharks feeling insulted. Shared by Sony Entertainment Television on YouTube, the video focusses on a pitch made by the two co-founders of Moonshine Meadery, a company that manufactures mead — an alcoholic beverage made from fermented honey.
The pitch impressed the entire panel, which comprised Anupam Mittal,Ashneer Grover, Aman Gupta, Vineeta Singh and Peyush Bansal. The ask was for Rs 80 lakh in exchange of 0.5% equity in the company. The sharks countered with an offer of Rs 1 crore, against 2.5% equity.
The entrepreneurs asked for some time to deliberate, and left the room while the sharks said that the cheques would be ready by the time they return. Outside, the two entrepreneurs discussed the merits of the offer, and came to the conclusion that it would not work for them, as it reduced the company’s valuation to what it was over two years ago.
