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In a recent episode of the business reality show Shark Tank India, a retired army officer with extensive experience in conflict zones pitched his military tactical gear brand, Spec-Ops, to the panel of investors, or “sharks”, according to a report from ABP. .
His direct approach and unwavering demeanor left a lasting impact, evoking a mix of admiration and intimidation from sharks Anupam Mittal, Aman Gupta, Namita Thapar, Vineeta Singh and Amit Jain. Through skillful negotiation, the former officer obtained a significantly higher valuation than initially offered, demonstrating his ability to stand firm in the face of the sharks’ demands, the report added.
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The founder candidly admitted his intention to leverage the show’s platform for advertising, earning praise from Aman for his honesty, a quality he attributed to the founder’s military background. The sharks were even more impressed when the founder revealed that his sales from the previous year amounted to $6.2 crore, with projections of $8.5 crore for the current year, the report said.
Despite initial skepticism from some sharks regarding the proposal $Valuation of 40 crores, Aman finally extended an offer valuing the company at $15 crore, citing the potential for virality in the emerging market. The report said this offer sparked a response of disbelief from the founder, who felt the valuation understated the value of the company.
After further negotiations, Aman and Amit jointly proposed an investment of $40 lakh for a 2 per cent shareholding and an additional $40 lakh debt at 12 per cent interest for two years. Although he met half of his initial expectations, the founder accepted the offer, a tenfold increase over Aman’s initial valuation, according to the report.
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