Shark Tank India 2: Aman Gupta and Peyush Bansal join together with team of Kashmiri entrepreneurs at FastBeetle
Many participants from far and wide go to India for the second season of “Shark Tank India” in the hopes of making a deal with some of the country’s most seasoned and prosperous business owners.
As it is very rare to see entrepreneurs from Kashmir, Shamiullah and Abid travelled all the way to the Shark Tank to pitch their logistics company, FastBeetle. When Aman Gupta questioned them on why there weren’t more Kashmiri entrepreneurs, they stated, “There’s an absence of motivation and opportunity in Kashmir, and this is the reason why young people fall behind jobs.”
When asked how they compare to well-known businesses, Shamiullah and Abid said they are doing better because their in-depth local knowledge allows them to more quickly and efficiently serve their clients. While Aman Gupta’s offer of 90 lakhs for 3% ownership included loans, Peyush Bansal’s offer of 90 lakhs for 9% equity shifted the dynamics of the negotiation. But the enterpreneurs replied with 90 lakhs for 5% equity. Aman and Peyush Bansal got together because Shamiullah and Abid only wanted to be with them.
Aman Gupta and Peyush Bansal presented a joint offer of 90 lakhs for 9% equity. After discussion, Aman Gupta reduced the equity to 7%, but FastBeetle replied with an offer of 90 lakhs for 8% equity. Aman and Peyush together ultimately closed the deal for 90 lakhs for 7.5% equity.
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