A fiery bidding war unfolded on the second episode of Shark Tank India Season 4, delivering high drama and culminating in a blockbuster deal. Young entrepreneurs Devansh and Ackshay pitched their online peer-to-peer platform, Culture Circle, to the panel of sharks: Vineeta Singh, Namita Thapar, Aman Gupta, Ritesh Agarwal, and the newest addition, Kunal Bahl. The duo sought Rs 1.2 crore for 0.5% equity, valuing their company at a staggering Rs 240 crore.
Aman Gupta immediately balked at their ask, exclaiming, “Hum paagal hain kya (Are we insane)?” Spotting Devansh’s Rs 10 lakh shoes, he called attention to them, prompting a quick-witted response: “You can get it for Rs 6 lakh on Culture Circle.” This drew laughs from the sharks. Devansh further impressed them by revealing that they had raised Rs 16 crore in funding in May 2024, just two months after graduating from IIM Ahmedabad. However, Vineeta remained skeptical, questioning their motives for appearing on the show. Calling their valuation “waahiyat” (outrageous), she accused them of using the platform solely for free marketing.
Her suspicions deepened when the entrepreneurs disclosed Rs 17 crore in bank reserves. “I can’t believe you’re here to make a deal,” Vineeta said. “Major brands like Dior and Gucci won’t stay with you once you scale, as they rely on offline partnerships. It’s unfair that you’re taking the spot of entrepreneurs who truly need funding.” Despite her misgivings, the entrepreneurs reassured the panel of their genuine intent.
With Vineeta out, the other sharks showed significant interest. Kunal offered Rs 8 crore for 10% equity, while Ritesh and Aman presented competing offers. Namita also joined the fray but insisted on a royalty structure, which the founders opposed. They countered with Rs 2.4 crore for 2% equity and suggested a joint deal among Ritesh, Kunal, and Aman.
Kunal proposed Rs 4 crore for 5% equity, adding, “Let’s raise the round then.” However, friction emerged between him and Aman, who cautioned Kunal not to go solo later. “You’re new on the show,” Aman quipped, to which Kunal replied, “But I’m not new to making deals—I’ve made more than you.” As tensions rose, Devansh was overheard telling Ackshay, “Air ho jayega (This will air),” angering Aman, who stormed out, declaring, “I’m out.”
The drama didn’t deter Kunal, Ritesh, or Namita. Ultimately, the founders accepted a deal of Rs 3 crore for 3% equity, valuing their company at Rs 100 crore. As they sealed the agreement, Devansh quipped, “Aman hates us,” capturing the charged atmosphere of the episode.
