Shark Tank India’s Vineeta Singh Pitches Sugar, Strikes ₹ 5 Crore Deal With Other Judges
Vineeta Singh’s pitch ended with an offer from all five judges as they offered ₹ 5 Crore for 5%, which Ms Singh and her husband accepted.
The finale week of ‘Shark Tank India Seaon 2’ saw one of the show’s judges Vineeta Singh pitch her own company SUGAR cosmetics to the other judges and strike a deal worth ₹ 5 crore with all of them. Ms Singh was joined by her husband and co-founder of the firm Kaushik Mukherjee. The duo pitched their brand to the other five sharks – Aman Gupta, Anupam Mittal, Peyush Bansal, Amit Jain and Namita Thapar.
On Saturday, the official account of ‘Shark Tank India’ shared a short clip on Twitter showing the founders of SUGAR pitching their business idea to the judges. “A surprise in the Tank!”
At the beginning of their pitch, Lenskart co-founder and CEO Peyush Goyal jokingly told the couple not to expect any mercy. Mr Mukherjee then went on to reveal that initially, they wanted to call their brank ‘Kickass Cosmetics’, but settled for ‘SUGAR’ instead.
When Aman Gupta asked about the investments, Ms Singh said that after 2013 they couldn’t secure any investment. Anupam Mittal appreciated the couple for continuing the business with profit and jokingly also said that Ms Singh will soon share a seat with other Sharks.
Ms Singh shared a few of the products from the brand with the judges. At the end of her pitch, the couple asked for ₹ 1 crore for 2% equity. Their pitch ended with an offer from all five judges as they offered ₹ 5 Crore for 5%, which Ms Singh and Mr Mujherjee accepted.
Post a commentNotably, Shark Tank India Season 2, which premiered on January 2, saw entrepreneurs from different walks of life pitching their brands to the big-shot investors. The show is hosted by Rahul Dua and the Sharks include, Anupam Mittal (Founder-CEO of Shaadi.com), Aman Gupta (Co-Founder-CMO of boAt), Namita Thapar (Executive Director of Emcure Pharmaceuticals), Vineeta Singh (Co-Founder-CEO of SUGAR Cosmetics), Peyush Bansal (Founder-CEO of Lenskart.com) and Amit Jain (Co-Founder-CEO of CarDekho Group and InsuranceDekho.com).