Shark Tank India: Anupam Mittal's Shocking Claim On Why 90% Of Finalised Deals Fall Apart

(MENAFN- Live Mint) Ahead of Shark Tank Season 4, Anupam Mittal and Vineeta Singh have pointed issues with founders who come on the show to pitch their business.

Also Read | Shark Tank India's Kunal Bahl reveals most underrated quality of an entreprenuer

While speaking to Humans of Bombay, Anupam pointed out that a significant number of deals discussed on Shark Tank never actually come to reality as 90 per cent of the time, founders either back out or attempt to renegotiate the terms of the deal.

Though Vineeta Singh did point out that offers made on the show might not always be favourable to founders, she added that one benefit the founders get is that in just one hour, they secure a deal which might otherwise take four to six weeks outside the show with angel investors.

Also Read | Viral Pakistani 'chai wala' Arshad Khan bags PKR 1 crore in Shark Tank

Mittal told Humans of Bombay,“A good percentage of the companies don't get funded, and the reason is that 90 per cent of the time, founders back out or they want to change the structure of the deal.”

He said,“It's a big no-no for me. It's a bad precedent to set.”

He added that the issue is when founders believe they can accept any deal on the show and then attempt to change the terms later.

Adding to this, Vineeta Singh said,“For a cheque to come from an angel investor, it is multiple meetings, probably 4-6 weeks in most cases. That 4-6 weeks is getting condensed to an hour on Shark Tank ."

Also Read | Shark Tank: Edelweiss Mutual Fund CEO Radhika Gupta shares these investing tips

She said,“We are also operating on a very tight timeline. We also compensate for the extra risk that we carry.”

MENAFN19122024007365015876ID1109010667