The second season of the business reality show Shark Tank India is on air and people are loving the creative products and passion of budding Indian entrepreneurs who are pitching their products and services to the investors. However, one person who is an author and marketer by profession has openly stated that Shark Tank India never worked for him even from the first reason and his reasons are quite logical as well.
The name of this person is Ankit Uttam and he made a post on Linkedln in which he talked about the show, all the investors of Shark Tank India and their businesses as well. Ankit Uttam started by writing that he never liked the Indian version of the American business reality show Shark Tank even from the first season unlike the original show. He further writes that if we look at the sharks (Barbara Corcoran, Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John and Kevin O’Leary) in the US show, they are running profitable businesses and not depending on money invested by Venture Capitalists or incurring losses.
Ankit states that he thought of researching about the Indian sharks and their businesses and as per his findings, other than Aman Gupta (boAt co-founder), the businesses of all other sharks are incurring losses.
Ankit Uttam started with SUGAR Cosmetics which is owned by Vineeta Singh, it registered a loss of Rs. 75 crore in the financial year 2022 and in FY21, the company incurred a loss of Rs. 21.1 crore.
Though Ashneer Grover has been sacked from BharatPe, a firm which he co-founded, yet when the company was under his leadership, it reported huge losses. While BharatPe’s total loss in FY22 was Rs. 5,594 crore, in FY21 it was suffering with the total losses to the tune of Rs. 2,961 crore.
While Peyush Bansal (founder of Lenskart) is considered as one of the most successful businessmen of the country, his firm reported a loss of Rs. 102.3 crore in FY22.
The new shark on the show Amit Jain’s company CarDekho suffered losses of Rs. 246.5 crore in FY21-22.
Ankit Uttam further talks about Anupam Mittal, the entrepreneur who owns Shaadi.com, Makaan.com, Mauj mobile, etc. He says that though financial details of Shaadi.com are not available in public, it seems that it is the only one which is earning but the other brands do not seem to be in a good condition.
Talking about Namita Thapar, Ankit Uttam says that she is not the founder of Emcure Pharma as it is her father’s firm and as far as her credentials are concerned, it may be similar to Bollywood actress Ananya Panday.
Ankit Uttam also took a jibe at Ghazal Alagh (founder of Mamaearth) as her firm posted a profit of just Rs. 14.44 crore in FY22 and with such minimal profit, it is coming with an IPO valued at Rs. 24,000 crore.
While concluding, Ankit Uttam called Shark Tank India Ekta Kapoor’s reprised version of the US show.
You can read the original post by visiting Ankit Uttam’s profile in LinkedIn and we have to agree that his post is an eye-opener. What do you say?
