top of page

Shark Tank India Season 3: Aman Gupta's Tearful Decision and the Art of Negotiation

In a gripping turn of events on Shark Tank India Season 3, viewers witnessed an unprecedented moment as Aman Gupta, co-founder of boAt and one of the formidable "sharks," tore up his cheque after making an offer to the entrepreneurial duo behind Zorko, a vegetarian fast food chain. The Nahar brothers, Anand and Amrit, were seeking a substantial investment of Rs 1.5 crore for a mere 1% equity stake in their rapidly expanding venture. Zorko, originating from Surat, Gujarat, had already achieved remarkable success by opening 150 outlets in just 17 months, all without relying on external funding.


The pitch showcased Zorko's diverse menu comprising over 80 delectable offerings, ranging from pizzas and sandwiches to burgers, momos, milkshakes, and more, promising to tantalize taste buds and cater to varied preferences. The brothers' ambitious vision of scaling up to a thousand outlets within the next thousand days underscored their determination and strategic foresight, capturing the attention and intrigue of the sharks.


An unexpected twist emerged during the interaction when Anand Nahar shared a personal anecdote about his past attempt to invest in OYO Rooms in 2019. His recount of encountering communication barriers with OYO's call center and subsequent admiration from Ritesh Agarwal, OYO's CEO, added a layer of humor and relatability to the pitch. Anand's financial background and previous investments highlighted his acumen and experience in the business world, setting the stage for a potentially lucrative partnership.

However, negotiations took a dramatic turn when Aman Gupta and Ritesh Agarwal extended an offer of Rs 20 lakh for 1% equity alongside a Rs 1.3 crore loan at 10% interest over three years. The brothers' counterproposal, seeking 100 advisory hours in addition to the financial deal, introduced a hurdle in the negotiation process. Despite attempts at finding common ground, including a revised request for 50 advisory hours, Gupta's frustration became palpable as the conversation reached an impasse.


In a moment of raw emotion, Gupta made the unexpected decision to tear up the cheque and retract his offer, expressing his regrets with a heartfelt "Bhai tu mujhe maaf kar." The gesture not only symbolized Gupta's frustration but also underscored the importance of transparency and mutual understanding in business dealings. Ultimately, the exchange highlighted the challenges and complexities inherent in entrepreneurial ventures and the critical role of effective communication and compromise in forging successful partnerships on the Shark Tank stage.


Comments


bottom of page