Monday to Friday at 9pm on Sony we see some of the best minds throughout India in Shark Tank India. And get an insight in the thinking of India’s biggest entrepreneurs and investors. With these 5 Sharks leading the show, Peyush Bansal, Aman Gupta, Namita Thappar, Anupam Mittal and Ashneer Grover. Ariro Toys now making an attempt to get their dream deal for the future of the company.
Entrepreneurs from Ariro Toys presented their product for children to the sharks. The Ariro toys team started their presentation by claiming that every child consumes a credit card worth of plastic every year. And since toys are the closest product to a child, the team decided to develop toys beneficial to child’s health and ecosystem. Which led to the development of wooden toys. More specifically Neem Wood. Ariro toys builds toys for the children of age 0 to 3 all made of Neem Wood.
Shark Aman Gupta tried one of the toys, balancing board. When asked about the company’s name and logo. Team answered that the name comes from a Tamil Lullaby. And the logo is a mix of English and Tamil Lexicon for a.
Sales and Marketing
Ariro sells their product online from online retailers like Amazon and through their own website. And in offline market their product is available in famous toy store, Hamleys. And have sales of nearly Rs. 3Cr a year. Ariro also has a good social media presence with more than 43k followers on Instagram.
Shark Ashneer Grover was first to offer Team Ariro with Rs. 50 Lakh for 15% equity. Shark Namita Thappar moved out of the deal. Sharks Peyush Bansal and Aman Gupta teamed up and offered 50 Lakh for 15% as well. While Shark Anupam Mittal offered 50 Lakh for 12% equity share. Immediately, Shark Ashneer Grover changed the deal to 50 Lakh for 11%, this led to Shark Anupam Mittal to change the deal to 50 Lakh for 10%. Sharks Aman and Peyush promised good market leads. While in the meantime, Anupam and Ashneer collaborated for 50 Lakh for 10%.
Closing the Deal by Ariro Toys
Team Ariro took their time discussing and presented a counteroffer to Shark Aman and Peyush, 50 Lakh for 10%. The duo seemed skeptical at first. But as soon as Shark Ashneer for 50 Lakh for 9%, Aman and Peyush took the deal.
The deal finally closed with Sharks Aman Gupta and Peyush Bansal paying Rs. 50 Lakh for 10% equity share.