A trio of young entrepreneurs named Rohan, Janvi and Ojasvee pitched their lifestyle clothing brand, Burger Bae, on the latest episode of Shark Tank India. They described their products as ‘tasty’ and ‘saucy’, and their brand persona as ‘a toxic college girl who is a red flag that you can’t stay away from’. The answer left Viraj Bahl, who was making his first appearance on the show, mightily impressed with the founders’ vibe. They asked for Rs 1 crore in exchange of 2.5% equity, valuing their business at Rs 20 crore.
They said that their revenue is about to hit Rs 15 crore this year, but Rohan admitted that an early partnership backfired on him to such a degree that the brand nearly went bankrupt recently. He said that he shed 33% of his business to an early investor, who didn’t live up to their end of the deal. Rohan had to sever ties and buy them out, for which he borrowed money from his family. He also said that at Burger Bae, he takes a customer-first approach, and that he saw his former partner floundering on that front.
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Rohan’s customer-first approach also had an impact on his personal life. Janvi was a disgruntled customer of Burger Bae, who complained about an unfulfilled order and received a call from Rohan. He promised her free merch forever. One thing led to another, and they started dating. Eventually, Rohan made her a co-founder at the company. Rohan told the panel of ‘sharks’ that he wants to transform Ludhiana in the way that Narayana Murthy transformed Bengaluru. Aman Gupta joked that he’d have to work 70-hour weeks for that. Rohan said that he is willing to work 100 hours a week if needed.
But Namita Thapar wasn’t convinced by his grasp of numbers. She backed out of the deal, as did Viraj, who said that it is too early to invest in their company. But Aman, and Anupam Mittal and Kunal Bahl expressed interest. They each offered the founders Rs 1 crore in exchange of 10% equity, or, alternatively, Rs 2 crore in exchange of 20%. Janvi praised all three of them to no end, and said that they are each titans of their fields. She asked if they’d consider joining hands, and they agreed to come in together for Rs 2 crore at 20%. Janvi excitedly agreed to the terms, but Rohan hesitated. Aman and Anupam asked them not to rush into it, but after a few moments, they agreed.
