Shark Tank India: LinkedIn Post Claims Judges' Companies ‘Drowning In Losses’, Only Aman Gupta’s Boat Profitable
LinkedIn user claims that the Shark Tank India judges' companies are actually drowning in losses.
New Delhi: Ankit Uttam, an author and marketer, revealed on LinkedIn that the Shark Tank India judges' companies are actually drowning in losses. He stated last week that the popular US show's Indian adaptation "never worked for him" in a lengthy post.
Ankit went on to say that the sharks are not trustworthy enough to give business advise to the competitors who are featured on the show.
"Shark Tank India has never worked for me as a show from its first season, unlike its US counterpart. In the US version of the show, every judge (Barbara Corcoran, Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O'Leary) is running businesses that actually turn a profit instead of riding on VC money or drowning in huge losses. So I decided to delve deeper into the businesses of each shark starting from Season 1," he wrote in the post.
He broke out the judges' incomes over the previous two years after outlining his reason for opting to study the Indian sharks' financial situation.
"Vineeta Singh's SUGAR Cosmetics reported a loss of INR 75 Cr in FY22 up from INR 21.1 Cr in the fiscal year FY21. Ghazal Alagh's Mamaearth for the first time since inception had posted a profit for FY22 at INR 14.44 Cr after suffering losses of Rs.1,332 crore in FY21 and ₹428 crore in FY20. Also the company has reported a 4 crore net profit approx. for the first half of FY23. So the company has just lately begun turning profitable. Also a recent Mint news report states that they are going for an IPO at a valuation figure of INR 24000 Cr. 24000 Crore when the profits are just 14 crore," Ankit wrote.
About Ashneer Grover, a former season one judge, Ankit said,“BharatPe's total loss stood at ₹5,594 crores in FY 2022. In FY 2021, the company had recorded a total loss of ₹2,961 crore. Ashneer Grover was removed in 2022 from the company so these losses will be also under his leadership since he was also at the helm in FY22."
He went on to say that the only reason Namita Thapar worked for her company was because her father was the CEO. "Namita Thapar is NOT the founder of her company Emcure Pharma. It's her father who started it and still is its CEO. So, to some, her credentials may seem similar to that of Ananya Pandey in Bollywood?? (Did somebody hear nepotism)," he stated.
The author concluded by stating that BoAt, owned by Aman Gupta, is the only profitable business.
Check out the post here:
Some hard truths about Shark Tank India! How credible are the Sharks? pic.twitter.com/5zEUgtW5DB
— Shantanu (@shantanub) January 12, 2023
The second season of Shark Tank India, hosted by comedian Rahul Dua, airs Monday through Friday at 9 p.m. on Sony TV.
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