Harsh Goenka has stated that he appreciates the program Shark Tank and believes it is a terrific forum for aspiring entrepreneurs.
Harsh Goenka, Chairman of RPG Enterprises, has offered his thoughts on Shark Tank Season 2. While the show is primarily about assisting prospective business owners by convincing some of the country’s biggest and most successful CEOs to invest in their endeavor, the Sharks appear to be facing a lot of criticism this season.
Goenka has stated that he appreciates the show Shark Tank and believes it is a terrific forum for aspiring entrepreneurs.
“But anytime I think of sharks, I think of the movie ‘Jaws,’ and blood,” he added.
Goenka provided a photo showing the FY22 profit after tax of the enterprises held by these Sharks. The image published by Goenka’s source is unknown.
It revealed that Aman Gupta was the only shark who made a profit after tax in FY22, with his company boAt earning Rs. 79 crore.
Other sharks, besides him, reported a big loss. Amit Jain’s profit at CarDekho was -246 crore. Lenskart’s earnings after tax for FY22 was -102 crore, according to Peyush Bansal. Sugar Cosmetics, owned by Vineeta Singh, declared a loss of Rs 75 crore. Anupam Mittal’s Shaadi.com FY20 profit after tax was -27 crore because no further declaration was made. Mittal also owns two more firms, Makaan.com and Mauj Mobile, the numbers of which are not disclosed. Shark was also mentioned in Goenka’s artwork. Emcure Pharma, according to Namita Thapar, is not a startup because it was founded by her father, who is still active in the company.
Goenka’s post has received more than 1.2 million views and 10,316 likes. Users concurred with Harsh Goenka. “True,” wrote Nishant Pitti, CEO and Co-Founder of EaseMyTrip. Entrepreneurs who have yet to make their startups viable and give their investors a return on investment are now investing in other startups.”
“It’s now like any other TV program, with acting by judges and participants, emotional stories, conflicts, and laughs, and overall funding less than advertising revenue,” said Jigish S, CEO of BillMart. According to my friends, 90% of individuals who watched S1 did not watch S2.
“It’s basically like a Family Melo edy with loads of emotional parts,” another person said.
“When it’s your own money, the bottom line is everything. When it comes to public money or angel investors, though, this gyan of value takes control. However, I never understood the foundation for the valuation. Of course, the promoters are paid well; they sell their stakes and live well!! “Another user commented.
“The selection of judges is consistent with most reality shows on television. They look for political leanings, which is visible in other shows as well. However, the program is still worth watching to see some incredible entrepreneurs, their tenacity, perseverance, and ingenuity.”
“Yes, it’s pleasant to watch as if it were an evening soap, but there’s nothing in it,” one person said. Business is approached like if kirana store, which I believe produces more money than the start-ups on the show.”
“It’s a very well conceptualised program but very poorly produced/implemented,” commented another. Losses cause Sharks to demand profits/profitability from newly founded firms.”
This is not the first time the Sharks have come under fire for their own enterprises. Ankit Uttam, an Amazon bestselling author, previously written on the financials of shark-run firms. He went on to equate Namita Thapar to Ananya Pandey in Bollywood over “nepotism” in a LinkedIn post, despite the fact that Thapar is not the founder of Emcure Pharma.