Three Bangalore-based founders pitched their cutting-edge cricket gaming firm Metashot on the most recent episode of Shark Tank India, putting Kunal Bahl in a difficult place for the first time this season. Kunal, who normally makes firm bids on firms he believes in, said that he has never been this puzzled about a company before. Peyush Bansal, on the other hand, looked to be offended when the founders removed him from consideration when he advised that they steer their company in a new way. The founders — Ajith, Prince, and Ranjith – requested Rs 80 lakh in exchange for 1.5% equity, valuing their company at Rs 53 crore.
They informed the 'sharks' that they had already raised half a million dollars (Rs 4.2 crore) in finance, which left the panel very impressed. Anupam Mittal said that he did not have high expectations of the founders when they first stepped in. However, he was startled when he learnt about their influence and sales figures. The creators stated that they had already made approximately Rs 10 crore in income in their first year of operations and expect a 5X increase in the coming year, owing mostly to the size of the gaming business.
They said that their goods allow users to play cricket matches with anyone in the world by using a 'bat' that can be operated via Bluetooth. According to them, this also opens up opportunities for membership sales and community building. Aman Gupta expressed interest but did not make a bid because he could not match the valuation that they had already arrived at. Kunal backed out after considerable thought. Peyush pulled out after the founders rejected his proposals, leaving Vineeta Singh and Anupam as the only 'sharks' willing to make an offer.
They said that their goods allow users to play cricket matches with anyone in the world by using a 'bat' that can be operated via Bluetooth. According to them, this also opens up opportunities for membership sales and community building. Aman Gupta expressed interest but did not make a bid because he could not match the valuation that they had already arrived at. Kunal backed out after considerable thought. Peyush pulled out after the founders rejected his proposals, leaving Vineeta Singh and Anupam as the only 'sharks' willing to make an offer.
They joined forces and quadrupled the founders' first offer to Rs 1.6 crore, but only for 5% stock, valuing the company at Rs 32 crore. Vineeta suggested that the inventors pitch the product as both a game console and a fitness device. The founders took a few minutes to discuss the offer and responded positively. They agreed to the stipulations, and both Anupam and Vineeta congratulated their accomplishment.