Shaadi.com founder and investor Anupam Mittal has been making headlines for all the wrong reasons. In a recent episode of Shark Tank India Season 4, the entrepreneur-investor got into a heated argument with his co-judge and co-founder of OYO Rooms, Ritesh Agarwal.
During luxury goods service brand Sneakinn’s speech, some ‘sharks’ made fun of Mittal’s age, but a similar comment from Agarwal irked Mittal. He compared the brand’s business to that of diagnostics, which SUGAR Cosmetics founder Vineeta Singh found odd.
Hearing Ritesh’s explanation, Anupam laughed and said, “Aap bimaar jooton ki laboratory banayenge.” » The founder of OYO Rooms said that together we will take on people who have approached the age of 60 like sharks. Later, Anupam said, “Chalo, aap yeh toh samajh gaye aapka baap kaun hai.” »
Needless to say, Anupam Mittal’s comments angered Reddit users and earned him comparisons with Ashneer Grover, known for his curt remarks on the show.
“Abhi Ashneer hota toh ache se jawab deta Anupam ko,” one user wrote.
“Vapas aa jao bully ashneer,” another user wrote.
“I don’t know why but Anupam took the responsibility of being rude after Ashneer left… He thinks he will look cool after all this but after all he is losing his fans and his originality. .. I feel bad for Reetesh Mann.. Such an innocent soul. Everyone is making fun of him in one way or the other, specially veeneeta and that idiot anupam.
“It seems Anupam has taken responsibility for trp,” observed a Reddit user.
Back on the ground, founding couple Sahil and Arunima sought funding of ₹90 lakh in exchange for 3 per cent stake in their company, taking its valuation to ₹30 crore. They mentioned that there was a gap in the market as people did not have the option to have expensive shoes and bags serviced, repaired and refurbished.
Despite Anupam’s attack, Ritesh offered the entrepreneurs ₹45 lakh for 5 per cent equity and the remaining ₹45 lakh as debt for 10 per cent. Vineeta and Anupam teamed up and made an offer of ₹90 lakh in exchange for 10 percent equity along with 1 percent royalty.
Titan Capital founder Kunal Bahl mentioned that when someone asks for royalties, asking for them is like valuing your company at zero. The founders, however, struck a deal with Anupam Mittal at ₹90 lakh for 6.5 per cent stake.
