Delhi, 19 January 2023 (GNP): Ankit Uttam, an Indian author and marketeer, posted on his LinkedIn how the companies run by Indian judges of Shark Tank are actually running into losses and hence they are not credible enough to give business advice to the contestants.
According to him, Shark Tank India 2 Judges are in losses except for Aman Gupta. Namita Thapar, Anupam Mittal, Vineeta Singh, and Peyush Bansal’s companies have been drowning in losses.
Last week, Ankit Uttam wrote a long post on LinkedIn revealing why Shark Tank India ‘never worked for him.’ He compared the Indian version to its US counterpart and shared how the companies run by the judges on Shark Tank India are actually running into losses. He went on to suggest the sharks are not credible enough to give business advice to the contestants who come on the show.
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Ankit explained on LinkedIn why he decided to look into the financial statuses of the Indian sharks: “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.”
Author Ankit Uttam shared his run down why Shark Tank India ‘never worked for him.’ He listed how the companies run by the judges on the reality show are actually running into losses and, therefore, they are not credible enough to give business advice to the contestants.
On the other hand, a report has been published sharing the stats of each judge’s company upon inquiry. According to the report, Vineeta Singh’s company, Sugar Cosmetics, has reported a loss of INR 75 Cr in FY22, up from INR 21.1 Cr in the fiscal year FY21. Similarly, Anupam Mittal’s companies Makaan.com, and Mauj Mobile, have been either dead or not making money, Shaadi.com being the exception. Even Shaadi’s financials are not known in public except for one recent report about its future IPO that may or may not arrive since one such attempt was also made in 2009.
Peyush Bansal’s brand, Lenskart, also posted a consolidated loss of INR 102.3 Cr in FY22. Meanwhile, Namita Thapar is not the founder of the company Emcure Pharma but her father, who started it and still is its CEO; hence netizens have been calling this nepotism. Ashneer Grover’s company, BharatPe, has also reported a total loss standing at ₹5,594 crores in FY 2022. In FY 2021, the company recorded a total loss of ₹2,961 crore. Ashneer Grover was removed in 2022 from the company, so these losses will also be under his leadership since he was also at the helm in FY22. Therefore, their position as Shark Tank’s judges are in question.
Shark Tank India Season 2, which began a few days ago, has taken the Indian TV industry by storm. Similar to the first season of the show, the second season has become a major hit with the audience since the ultra-wealthy judges of the show are entrepreneurs themselves.
