After the success of the first two seasons, Shark Tank India Season 3 started to stream on Sony Liv on January 22, 2024. Shark Tank India Season 3 will witness new investors including Zomato Founder Deepinder Goyal and Oyo Rooms Founder Ritesh Agarwal. Also, old investors like Aman Gupta, Namita Thapar, and Vineeta Singh are returning to the new Shark Tank India Season 3 season. Interestingly, the first pitch of Shark Tank India Season 3 came from an entrepreneur named Mayank Sisodia, the founder of Honest Home. However, on being grilled the Panjab University graduate Mayank Sisodia revealed that he was sued and sent legal notice by none other than Hollywood actress Jessica Alba. Below is everything you need to know about Mayank Sisodia's Honest Home journey as explained by himself during his pitch to the 'Sharks'-
Who is Shark Tank India Season 3 fame Mayank Sisodia?
Mayank Sisodia is the founder of Honest Home company that sells everyday cleaning and paper products but without plastic packaging. This makes them eco-friendly and sustainable, but as well as they offer them at an affordable price. Honest Home also includes items used in kitchen cleaning, food wrapping, and personal hygiene. One of the most unique products is a Floor Cleaner, but that comes in powder form, packaged in a paper bag. This way, the cost of plastic bottles and unnecessary storage is solved, as well as the price is even lower.
Mayank during his Shark Tank India 3 pitch revealed that he made an initial investment of Rs 2.25 crore and the company registered an actual revenue of Rs 14 crore. He asked for a Rs 2 crore investment and was ready to dilute 2 percent of the equity.
Mayank in his pitch revealed that he comes from a small village in Uttar Pradesh- Dhampur. His schooling was done in his native village. However, for Graduation, he moved to Chandigarh. In Chandigarh, he graduated from Panjab University. Following that he did an MBA from Jaipur. After his education, Mayank worked for companies like Parle and Hindustan Unilever and achieved personal success multiple times.
Notably, during the pitch, Shaadi.Com founder Anupam Mittal pointed out that Mayank's company name resembles to Hollywood actress Jessica Alba's company name. Mittal asked Mayank whether he opted for the name inspired by Jessica Alba. However, Mayank clarified that when he was making his company and naming it, he did not even know that the 'Honest' word already belonged to Alba.
Mayank went on to reveal that Jessica Alba sent him and his company a legal notice as well. Listening to this, all Sharks whether the legal trouble has now been sorted or not. Mayank said that it is now been sorted and he now owns the name in India.
Ultimately, Mayank got four offers from the Sharks. In one deal, Aman, Anupam, and Vineeta were coming together, while Cardekho founder Amit Jain gave him a solo offer. Ultimately, Mayank opted for Amit Jain. Hence, Mayank reached a deal with Amit Jain.
Jessica Alba's 'Honest' Company
The Honest Company, Inc. is an American digital-first consumer goods company, based in Los Angeles and founded by actress Jessica Alba, Christopher Gavigan, and Brian Lee. The company had $319 million in 2021 sales and was valued at roughly $550 million as of February 2022. As per the information available, the company co-founder Jessica Alba was inspired by the 2008 birth of her first child and her own history of childhood illnesses to create a company that provided an alternative to baby products with ingredients such as petrochemicals and synthetic fragrance.