Shark Tank India Episode 10: Nuutjob, Meatyour, Eventbeep
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Shark Tank India’s Episode 10 brings 3 exciting brands- a male hygiene wash company, a brand that sells odourless eggs, and a next-generation student company. Checkout the exciting promo where Ashneer was ready to personally fund an inspiring entrepreneur. Have a look below to find out:
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Table of Contents
Nuutjob Brief Profile & Company Info
Based in Ahmedabad, Nuutjob is a male intimate hygiene brand. It is a 4 in 1 body wash- Nutt, Butt, Body and Hair. The product is free from Talc, Aluminium and Paraffin and it is gentle on genitals.
Founders: Anushree and Maloo
Nuutjob Product Portfolio
- 4 in 1 male intimate body wash
Shop for Nuutjob products at https://nuutjob.com
Nuutjob’s Social Media Links
- Instagram: https://www.instagram.com/nuutjob
- Facebook: https://www.facebook.com/nuutjobindia
Nuutjob Ask from the Sharks in Shark Tank India
Rs 25 Lakhs for 5 % equity, Valuation - 5 Crores
Discussion: Did Nuutjob Get Funding from the Sharks at Shark Tank India?
The discussion started off with Anushree and Maloo telling the Sharks that, during summer time, there is a lot of sweating in the lower areas. They wanted to find a solution for this and their fathers were highly supportive.
What are the sales and manufacturing?
1500 units made and sold 500 units.
Namita said that, in a country, where buying sanitary napkins is a taboo, it is amazing to build up courage and come on national TV and promote these particular products.
Anupam said that they are learning so much on Shark tank and he was extremely proud of the girls.
Peyush asked- What are your backgrounds?
One of them works in modular kitchen brand operations and her father is into timber trading. The other founder is from a PR and Journalism background and she works in entertainment based company marketing. It has only been 3 months since they started.
Aman asked - You planned manufacturing and do you source suppliers?
Both Anushree and Maloo researched for a year and found out that there are many products in the US. So they brought products and tested them. But, Indian skin and geographic conditions are very different. That formulation will not suit India, so they made new formulations and manufactured by third parties.
Anupam asked- What is the gross margin?
399 MRP
cost price Rs 114
50-70% – profit margin
Ashneer was the first one to offer them.
Peyush asked- How will you compete in the market?
Their focus is to educate and entertain even though they know it’s a taboo topic. Manscaped Inc is the parent company and Nuutjob is their brand.
Offers for Nuutjob at Shark Tank India
Offer 1: Anupam and Ashneer - Rs 25 lakhs for 25%
Offer 2: Peyush, Aman and Namita - Rs 25 lakh for 20%
Counter offer by Anupam and Ashneer - Rs 25 lakh for 15%
Final Verdict
Peyush, Aman and Namita came together and offered Rs 25 lakh for 20%.
Meatyour Brief Profile & Company Info
Meatyour is an egg business that supplies eggs to major hotels and suppliers. They have 20k chickens and want to become a D2C using technology. Currently they have 9 hubs in Mumbai and 3 hubs in Pune. It's an open environment that provides fruit and veggies for chickens and for additional nutrition they eat worms and insects.
Founders: Vardhaman Gandhi, Arnav and Saisharan Gandhi
USP: No smell eggs
Meatyour Product Portfolio
- Odourless eggs that are available via whatsapp ordering and one click orders.
Meatyour’s Social Media Links
- Instagram: https://www.instagram.com/shreebalaji_farms
- Facebook: https://www.facebook.com/shreebalajifarms
Meatyour Ask from the Sharks in Shark Tank India
30 lakh for 5%, valuation - 6 Crores
Discussion: Did Meatyour get Funding from the Sharks at Shark Tank India?
Peyush asked - What is the background?
Vardhaman has an accounting background and they are from Pune, which is an agricultural hub. Goat, poultry and dairy farmers are their clients and with them they learnt the skills. Arnav is an IT engineer and Sai is a Civil engineer.
Namita asked - What’s your differentiator?
White labelling has been done a lot, now they want to expand their brand.
300 million eggs are sold every day in India , so there is no need to diversify as it's a huge market. In Mumbai, 80 lakhs eggs are consumed daily. It is a million dollar industry and the founders were sure that nobody can give them competition as they are established. Whatsapp ordering and one click orders are already activated.
Ashneer – In India, It is impossible to make profit by delivering any product, which is prices less than 300. Licious is selling experince and bigger order volume at premium prices. So I am out.(didnt understand)
Anupam asked- What is the business volume?
Turn 0ver (20-21) - 1.3 Crores
Making cost - 3.5 Rs
Profit margin - 1.5 Rs and MRP - 5 to 5.5
Making 35 lakhs income
B2C business volume is 16 Lakh FY21-22
MRP Rs 9
Making - Rs 5
Profit margin +CAC- 2.5 Rs and indirect cost 1.5 Rs
In both business models, 30% margins. Equity would be 5 people, 20 each.
Namita said that time and expertise is not there with her and she is not interested in selling eggs. So she opted out.
Peyush suggested that they need to merge both businesses together, B2B and B2C and bring someone outside the family as co-founder to look after technology and supply chain.
But Anupam on the other hand feels that a cofounder will add to trouble. Operations and logistics are important, not just technology. Anupam stresses that their strength is production and he can help them leverage on that as an advisor.
Offers for Meatyour at Shark Tank India
Offer 1: Aman and Peyush - 30 Lakh for 20 %
Offer 2: Anupam- 30 Lakh for 20 %
Counter offer - 30 Lakh for 14%
Final Verdict
Peyush, Anupam and Aman, all came together and offered 30 lakh for 20%.
EventBeep Profile & Company Info
EventBeep is a next-gen student company. It is a space to get inspired and ask questions. Students can chat, pitch ideas, gain recognition and receive support from people with shared interest and volume. In just three steps, it can change one’s college life.
Founders: Rakhi Pal, Venkatesh Prasah, Saurabh Mangrulkar
EventBeep Product Portfolio
- Next-gen student company to interact and receive support from people with shared interest.
EventBeep’s Social Media Links
- Instagram: https://www.instagram.com/eventbeepindia
- Twitter: https://twitter.com/event_beep
- Facebook: https://www.facebook.com/EventBeep
- LinkedIn: https://www.linkedin.com/company/eventbeep-entertainment
EventBeep ask from the Sharks in Shark Tank India
30 Lakh for 2% Valuation- 15 Crores
Discussion: Did EventBeep get Funding from the Sharks at Shark Tank India?
Aman asked - What is your story?
Rakhi Pal had to leave her home to pursue her entrepreneurship journey. Saurabh’s family’s financial condition was not great, so he started doing business from 14-15 years of age. He pays his entire college fees through this education and his dream is to make every college an IIT.
Venkatesh is a computer science graduate and looks after technology and revenue. Rakhi believes in the power of networking and believes in herself, but she misses her family.
Ashneer asked-How do you make money?
It’s a 4 step- business model.
Revenue model 1 – digitising campuses and gamifying
2 - Brand campaigns
3 – Ed-tech courses and integration to earn commissions
4 – For events, seminars and workshops, they charge commission on ticketing
This community was launched 6 months back and they have 10,000 students. And now, they have a 60K community of vibrant students.
65 lakh revenue generation was done in the last 6 months and student engagement is 20 mins, which is the average amount of time spent daily by students. 1800 students are daily active and monthly it is 9K students.
Aman highlighted power of community, brand 5000 consumer new, young brands offer like mine. Customer Acquisition… zero revenue model is not useful. Offer same as others.(did not understand)
Offers for EventBeep at Shark Tank India
Offer 1: Ashneer - offered the same as asked and extra 10 Lakhs to buy Rakhi’s secondary and to sort her life, as he was extremely inspired by her.
Ashneer offered to Rakhi – Rs 10 Lakh for 0.5% of her equity.
Offer 2: Peyush - 30 Lakh for 2%
Counter offer – all 3 sharks together Rs 40 Lakh for 3 %
Final Verdict
Aman, Ashneer and Peyush together - Rs 30 lakh for 3 %
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