The founders of Paradyes went on to ask for Rs 65 lakhs for 1% equity in the show.
New Delhi:
An episode of Shark Tank India this week featured a hair dye company, followed by the same drama-filled script: ‘sharks’ fighting amongst themselves, pitchers interacting with them and the result being that something The ‘Sharks’ were disappointed. But what made the occasion stand out was the discussion and debate that followed its airing.
Paradises CEO Yushika Jolly detailed on LinkedIn how much hate she received online after the show aired on Thursday, despite securing a deal that both she and her co-founders were satisfied with. While her co-founder and husband “was praised for her excellent negotiating skills”, she said the hateful messages she was receiving were tinged with “gender bias”.
“loud and opinionated,” the 26-year-old CEO wrote in a LinkedIn post. My DMs, in the comments on my personal page and even my brand page are flooded with hate messages. I draw attention to gender bias, because on the contrary, my husband, who is also a co-founder, is being praised for his excellent negotiation skills.”
Defending her decision to go with the offer of ‘boAt’ founder Aman Gupta and Sugar Cosmetics CEO Vinita Singh instead of Lenskart CEO Piyush Bansal, she said she “knows her business better than any keyboard warrior”. .
Yushika Jolly and Siddharth Raghuvanshi went on the show and asked for Rs 65 lakh for 1% equity in their company. While Piyush Bansal offered them what they asked for, the two accepted Vinita and Aman’s offer of Rs 65 lakh for 2 per cent equity.
“We could have chosen Piyush if we were really ‘greedy’…and everyone asks why to mess for 1%, please go and build your own business and only then you will realize how important even 1% is Is,” wrote Yushika Jolly.
However, Ms. Jolly found a silver lining in the hatred she had to endure. “After we went live, our sales almost doubled on our website and in certain markets. Our website has seen a 20x increase in traffic.”
The second season of Shark Tank India started earlier this month. The reality show, which made its debut a year ago, is one where startups seek investment from established businessmen. The show is the Indian version of the US show Shark Tank, which is currently in its 14th season.
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