A mother-son team appeared on Shark Tank India’s most recent episode to discuss their baking business. The company’s CEO, Pranjal, talked about how he used to be a product manager for Amit Jain and then made the decision to leave to launch his own company.
He went on to thank Amit for always being there for him and offering his support. Conversely, Amit remembers how he brought Pranjal in from the IIT campus. Speaking about his company, Pranjal stated that he is asking for 60 lakhs in exchange for 1.5% of the company’s stock.
Subsequently, the mother-son pair displayed multiple customized cakes to the sharks. Depending on their personalities and company, they received one dessert for every shark.
Seemingly impressed, the sharks asked Pranjal to give them a taste of their pastries. Pranjal gave the sharks samples of several pastry flavors. They expressed their gratitude to Pranjal for the food items they had eaten.
Subsequently, Aman Gupta said he couldn’t comprehend their difference because several brands provide the same services. He went on to say that they provide the same in comparatively less time and at half the cost. Conversely, Namita concurred with Aman, stating that the industry is not very scalable given the abundance of firms in the nation offering customized cakes.
Aman Gupta, Anupam, Vinita Singh, and Namita Thapar chose not to participate in the agreement, stating that they are still unsure about it. Conversely, Amit expressed that he disagrees with the company’s valuation. He went on to say that he could pay 60 lakhs for 5% of the company’s ownership. Following a protracted debate, they agreed to consummate the purchase for 60 lakhs for 2.5% of the business.
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