The second season of Shark Tank India, a popular business reality TV show, premiered on Sony TV on January 2 and the show is grabbing good TRPs too. But according to author Ankit Uttam, Shark Tank India, which is the Indian version of the hit show Shark Tank, has never worked for him. Ankit has given a detailed reason behind his claim in a LinkedIn post, which has now gone viral.
In his post, Ankit has highlighted how the companies run by Shark Tank India judges are running in losses and hence they are not ‘qualified’ to give advice to new entrepreneurs.
“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,” he wrote.
The author then started researching about the businesses run by the judges of Shark Tank India Season 1 and found that Vineeta Singh’s SUGAR Cosmetics reported a loss of INR 75 crore in 2022. He also wrote in his post that Ghazal Alagh’s Mamaearth has recorded losses of Rs 1332 crore and Rs 428 crore in 2021 and 2020, respectively.
“BharatPe’s total loss stood at Rs 5,594 crores in FY 2022. In FY 2021, the company recorded a total loss of Rs 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,” the author claimed. According to Ankit, Peyush Bansal’s Lenskart reported a loss of Rs 102.3 crore in 2022.
The author also raised question over the selection of Namita Thapar as a Shark because she has not set up any business so far and is not the founder of Emcura Pharma. According to Ankit, Emcura Pharma was launched by Namita’s father and he is the CEO of the company. “So, to some, her credentials may seem similar to that of Ananya Panday in Bollywood?? Did somebody hear nepotism?” he continued.
Ankit mentioned that only Shark Aman Gupta’s Boat is running a profitable business, “To me, the Shark Tank India version seems like Ekta Kapoor’s rendition of the more interesting US version of the show,” the author concluded.
Shark Tank India Season 2 premiered on January 2, 2023, and features Aman Gupta, Amit Jain, Anupam Mittal, Namita Thapar, Peyush Bansal, and Vineeta Singh as Sharks.
Originally published at www.dnaindia.com