Registrations have already started for the third season of Shark Tank India, which will soon air. The judges have been successful in holding the audience’s interest while attending the pitches of entrepreneurs with small businesses and agreed to invest in selective ventures over its first two seasons.
Darkside Of Shark Tank India
The reliability of the show has, however, come under scrutiny recently. Do you recall how a LinkedIn user noted that the majority of judges are “drowning in huge losses”? Now, in a post on Twitter, someone released another reality bomb regarding the show. The article discusses an alleged ‘delayed financing fraud’ that has been going on.
A Twitter user, @financebyanmol, started a discussion regarding the “dark side of the show.” Here’s the thread. Have a look:
“Today, I am about to share the story of many frustrated and broken Shark Tank India contestants; this might shock you (sic),” says the first tweet.
🚨Shark Tank India ‘Delayed Funding’ Scam! 😥
Today I’m about to share the story of many frustrated and broken Shark Tank India contestants, 😓
This might shock you!
1/n pic.twitter.com/r3lPaZKDsT
— Anmol Sharma (@financebyanmol) June 10, 2023
The user states in his second tweet that several Shark Tank India participants who were promised to get finance on the show haven’t yet gotten it from investors (sharks).
These contestants had one of the most compelling pitch and was promised funding on national television but hasn’t received a single paisa from Shark. 💰
Let’s look at the Shark Tank India timeline to understand how these Sharks look to blackout from their agreement,
2/n
— Anmol Sharma (@financebyanmol) June 10, 2023
– June to July is the period when Sony is accepting registrations for Shark Tank. For example, The Shark Tank S3 registrations are live now.
– August to November is when the actual physical pitches take place from the filtered lot.
3/n
— Anmol Sharma (@financebyanmol) June 10, 2023
– B/w Dec to Jan the Sony team wrap up their post-production and get Shark Tank ready to air
Now if a start-up was promised funding b/w Aug to Nov, they should receive their funding within 2 months because the due diligence and the legal proceedings don’t go longer than that
4/n— Anmol Sharma (@financebyanmol) June 10, 2023
It further states that judges “deliberately” wait until the show has already aired in order to gauge how successfully the “Shark Tank effect” has affected the start-ups.
But the Sharks deliberately wait longer for the show to air and see how well the “Shark Tank Effect” worked on the start-ups, the Sharks gauge their website traffic and sales after the show is aired and also monitor if other investors are looking to make an offer,
5/n
— Anmol Sharma (@financebyanmol) June 10, 2023
In order to prolong the investment and ultimately “try to get out of the agreement,” certain start-ups are allegedly compelled to “move around in circles.”
The start-ups that don’t respond too well when the show is aired, they’re made to move around in circles so they can further delay the investment and eventually try to get out of the agreement.
Because of this situation, they don’t even get funding from other investors,
6/n
— Anmol Sharma (@financebyanmol) June 10, 2023
because they say, “Sharks ne investment de di kyaa? vo de denge to aana hamare pass”.
The founders I talked to faced all these problems (can’t reveal their names at this moment).
7/n
— Anmol Sharma (@financebyanmol) June 10, 2023
You know, Shark Tank is more benefiting the Sharks and Sony network, they’re looking to dramatize the entrepreneurial activities to gain traction and TRP which in-turn helps the Sharks to gain social recognition and push their own brand,
8/n
— Anmol Sharma (@financebyanmol) June 10, 2023
– Look at Lenskart founder, Peyush Bansal, he’s gained enough recognition that he’s on his own TV commercial along with Karan Johar.
9/n
— Anmol Sharma (@financebyanmol) June 10, 2023
– The ex-shark Asheer Grover was able to stir the pot enough and get into controversies, and when he launched his book, it recorded astounding sales. He is also in the ads of CrickPe
10/n
— Anmol Sharma (@financebyanmol) June 10, 2023
– Anupam Mittal and Aman Gupta, co-founder of boAt have gained massive recognition, just go and check their Instagram, they’re doing conferences, podcasts and attending red-carpet events.
11/n
— Anmol Sharma (@financebyanmol) June 10, 2023
The conversation ends with the assertion that judges and producers have benefited more from Shark Tank India than prospective business owners.
-Shark Tank India was a success because of the aspiring entrepreneurs on the show but instead of benefiting them more, the show has elevated the Sharks and Sony’s TRP.
Who is to blame here? What do you think, everyone?
12/n
— Anmol Sharma (@financebyanmol) June 10, 2023
If this is the case, entrepreneurs should seriously consider their options before submitting a Shark Tank India business pitch. How do you feel about this thread?
Let us know what you think in the comments down below! Your responses are awaited!
Follow Us: Facebook | Instagram | Twitter |
Youtube | Pinterest | Google News |
Entertales is on YouTube; click here to subscribe for the latest videos and updates.
