Shark Tank India Season 4 streaming on Sony Liv has started to create buzz among youths, especially among those who aspire to become a successful entrepreneur. The panel of investors of Shark Tank India Season 4 includes Vineeta Singh, Namita Thapar, Aman Gupta, Ritesh Aggarwal, and this season’s newest member, Kunal Bahl. In one of the episodes of Shark Tank India Season 4, a Delhi-based entrepreneur and founder of Tripole rejected the offer of Rs 3 crore given by shark Kunal Bahl but accepted Rs 75 lakh offer from OYO Founder Ritesh Agarwal. Continue reading below to know why-
Tripole Founder Rohan Khanduja appeared in the latest episode of Shark Tank India Season 4. Rohan Khanduja revealed, "I from Delhi. I did my schooling till Class 12 there. Thereafter, I did Engineering at BITS Pilani Goa Campus. Only one company came for campus placement in our college. JP Morgan. I applied there and I got a job at JP Morgan. I have also done CFA (Chartered Financial Analyst). I was an investment banker at JP Morgan."
"I stayed in Riyadh for 6 to 7 months. I returned to Delhi and took a sabbatical in 2017. I started loving trekking in 2016. When I working, I went to Himachal for trekking. Triund Trek to be specific."
For the unversed, Tripole is a rucksack brand that also makes outdoor utility, and apparel brands that are established on utility, durability, and affordability.
"Tripole Gears started in 2017 started in a very small room. But, today it has two factories that manufacture rucksacks, backpacks, sleeping bags, apparel, travel accessories, and other products, all are manufactured in-house. It is also sold internationally," added Rohan Khanduja.
Impressed by his soft-spoken nature, three sharks gave him offers.
Rohan originally asked for Rs 1 crore for 1 percent in equity i.e. on Rs 100 crore valuation. Nimita Thapar gave two offers. One was Rs 50 lakh for 1 percent equity i.e. valuation of Rs 50 crore and the rest Rs 50 lakh debt for 9 percent. The second offer is Rs 1 crore for 1.5 percent of equity and 1 percent royalty on sales till Rs 1 crore is recouped.
Ritesh Agarwal gave his offer of Rs 60 crore for 1 percent equity i.e. Rs 60 crore valuation. Rs 40 lakh of credit line at 9 percent interest for 5 years.
Kunal Bahl offered Rs 3 crore in exchange for 7.5 percent equity i.e. on Rs 40 crore valuation. Rohan countered Kunal by asking Rs 3 crore for 4 percent i.e. a valuation of Rs 75 crore but he rejected.
Ritesh gave a final offer of Rs 75 lakh for 1.15 percent equity i.e. Rs 65.22 crore valuation and Rs debt at 9 percent for 5 years but this can be extended.
At the end, Rohan accepted Ritesh Agarwal's offer due to the higher valuation and the OYO founder's experience in travelling business.