Shark Tank India 4: Namita Thapar, Anupam Mittal Call Out Pitchers For Manipulating Their Numbers


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The panel of sharks expressed concerns about the company’s ethical and financial policies.

A tense pitch was made by the founders of Ezo.  (Photo Credits: Instagram)

A tense pitch was made by the founders of Ezo. (Photo Credits: Instagram)

Shark Tank India, the hit business reality series, continues to captivate its audience with thrilling pitches and groundbreaking deals. In some episodes, entrepreneurs walk away with deals worth lakhs or even crores, while others leave empty-handed. In the latest episode of Shark Tank India Season 4, the founders of Ezo delivered a tense pitch but unfortunately left without securing a deal.

The panel of sharks including Anupam Mittal, Namita Thapar, Ritesh Agarwal, Kunal Bahl and Aman Gupta, expressed concerns about the company’s ethical and financial policies and further declined to invest. Namita and Anupam criticised the pitchers for inflating their figures. The three founders of Ezo, a Maharashtra-based company, elaborated on their startup on the stage.

The trio initially explained that their objective is to reduce skimming, but it was eventually revealed that they have simply created a POS solution where shopkeepers can keep track of their sales. Anupam was surprised to see that they distorted the essential principle of their company. The founders stated that they make money by selling their billing machines to the shopkeepers through a subscription model.

The founders further mentioned that based on their current figures, they anticipate reaching Rs 30 crore this year, which left the sharks wondering how. Following multiple rounds of discussions about the financial figures, Mittal and the other sharks discovered a disturbing issue. They discovered that the company’s founders engaged in unethical accounting practices, raising severe issues about the transparency of their financial reports.

Namita used the opportunity to explain the differences between the two primary accounting methods, saying, “Accrual accounting paints a more accurate picture of a business and is always the preferred method.”

After this, Anupam remarked, “Puri daal hi kaali hai boss (everything seems to be having issues.)” When one of the founders claimed that their accounting error was unintentional, Mittal refused to accept him. “You’re a pro; don’t pretend like you didn’t know what you were doing,” he added. Namita agreed and remarked, “You’re inflating your numbers. It’s an integrity issue, not just an accounting issue.”

Finally, the Sharks began pulling out of the deal. Namita and Ritesh had no interest in investing in the company. Aman Gupta noted that the pitchers have a commercial mindset and advised them to apply their skills appropriately. He warned them not to earn money in unfair ways. “You want to crack the subscription model in a country where Amazon and Netflix are struggling? They’ve had to reduce prices to 99 rupees and you’re charging 3000? Gadbad se paise mat kamao,” Gupta said. With that, the founders of Ezo exited without a deal.

Tags: Entertainment News, Shark Tank India, TV series

Keywords: Shark Tank India, business reality television series, Anupam Mittal, Namita Thapar, Ezo



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