In a recent episode of Shark Tank India, Vikas Suri, the founder of Popcorn & Company, sought investment for his five-year-old brand, offering 7.5 percent equity for Rs 75 lakh. In his pitch, he also disclosed his involvement in another successful company that deals with the manufacturing and importing of corn from the USA. He introduced himself as ‘the popcorn man of India’, and said that he supplies the popcorn at many of the major movie theatre chains in the country. But his pitch derailed quite abruptly when he made a seemingly disrespectful gesture towards Peyush Bansal. This angered Anupam Mittal, who lectured the entrepreneur about showing some respect.
During the pitch, Peyush challenged Vikas on the profitability of his QSR (quick-service restaurant) stores. While Peyush was explaining his stance, Vikas interrupted him and began correcting his numbers. “Did he just say that?” Anupam asked Vineeta Singh, who said that Vikas shushed Peyush. This prompted Anupam to rebuke Vikas for not respecting Peyush and the sharks. He expressed his frustration, saying, “Bhai sahab kis liye aaye hai aap yaha (Why have you come here?) You are the Vikas Suri, you know everything. We have been sitting here for the past three years. Do you know what we do? You came here and shushed one of the sharks.”
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When Peyush attempted to console Anupam by saying that he didn’t mind it as Vikas is elder to him, Anupam said, “It’s not about age. It’s the respect of the seat.” Vikas tried to apologise, but Anupam countered him and said, “That’s not the only thing. From the moment you have stepped in you have made such big statements but your answers are so vague. You haven’t clarified if you will shut the QSRs or scale them. You have said your name four times, I have never heard your name. After meeting you I feel you don’t have learning agility and humility. What will you learn and what will you teach? Your structure is very messy besides all the personal things I said and that’s why I am out. I feel there is a big business of popcorn but you might not make that business.”
Peyush also refused to invest in the business by stating, “You are the badshah of manufacturing and exporting and importing but when it comes to learning B2C you still have a long journey to go and I think for now you should remain curious about what format will work. You need to find answers which is why I am out.” Namita Thapar, who had already made Vikas an offer prior to the showdown, said that she is no longer open to negotiate. Vikas accepted her terms, and walked away with the Rs 75 lakh.
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