Shark Tank India Season 5 judge Aman Gupta has made headlines multiple times throughout his stint with the show. After investing in more than 15 startups in the latest Shark Tank India season, one of the contestants scared him more than the future of these brands, holding Rs 10 crore worth of commitments. Wrestlefanent founder Nikunj came shouting inside the Tank as he tried to recreate a wrestling rink on the sets of Shark Tank India. Startling boAt founder Aman Gupta, Sugar founder Vineeta Singh declared the business ‘non-investible’.
His energetic hook did not seem to impress investor Kunal Bahl, either. Singh highlighted the gap between the founder’s reality of the business and pointed out his ‘khayali pulao’ [imaginary] model. Towards the end of the pitch, none of the investors found Wrestlefanent a worthy option to invest, as they unanimously agreed on Shark Tank’s ‘I am out’ front.
Wrestlefanent Shark Tank India S5 pitch
Based out of Delhi, 32-year-old Nikunj created Wrestlefanent as a fan engagement platform for wrestling enthusiasts. With an aim to create an active and engaging community, Wrestlefanent specialises in conducting fan festivals, gaming leagues, celebrity meets, and B2B content.
Nikunj brought Wrestlefanent to Shark Tank India Season 5 to secure a Rs 75 lakh investment for 10 per cent equity, placing the company’s valuation to Rs 7.5 crore. In fact, after four unsuccessful attempts on entering the tank, this marked Wrestlefanent’s fifth time seeking investor funding from Shark Tank.
Turning rejection into hustle
Nikunj made a rather over-the-top entry into the tank. He made a theatrical entry, like many other startup founders seeking an investment. The Wrestlefanent founder walked to his spot and went running around to the judges, cheering in a loud voice. He announced himself as a ‘legend who turned rejection into hustle.’ When the founder revealed he was from Delhi, Kunal Bahl quipped, “Nahi bhi batate toh pata chalta [We would have figured even if you didn’t tell us].”
His tale of rejection started in 2021 when he first applied to appear on Shark Tank India Season 1. With his concept and idea rejected, Nikunj finally got a chance after four years. After his rather dramatic entry, Shark Tank judge Aman Gupta jokingly asked the Wrestlefanent founder, “Aise toh hai nahi ki tu belt bech raha hai [I hope you are not selling belts].”
Why Shark Tank judges backed out from investing
Speaking about the numbers, Nikunj fumbled, and it seemingly impacted the Shark Tank judges’ confidence in him. When Kunal Bahl asked him about the size of this fan community, the Wrestlefanent founder went on to explain the market size instead. Aman Gupta questioned the founder, “You are 32, at this age, if you were working, your salary would have been more than this, so sometimes do you feel that what you are doing is wrong?” as Namita Thapar agreed.
Sharing her views, Vineeta Singh added, “Numbers don’t lie, and if you draw a salary, the profits you have shown won’t remain. There is a huge gap between your reality and imagination. It’s important not to make Khayali pulao and do something where people want to give money. It’s not at all investible today.”
Nikunj responds, “Everyone feels dejected. I also thought I might not be able to do it. But I am happy making less money, rather than sitting in someone’s office.” Marking his fifth attempt on his show, Sharks gradually backed out, citing Wrestlefanent as an ‘investible’ business, for now.