A recent episode of Shark Tank India 3 featured the founders of iDream Career, a platform offering personalized career guidance to students. Seeking Rs 1.10 crore for a 1.28 per cent equity stake, the founders impressed the ‘sharks’ with their purpose-driven startup. However, they faced scrutiny over their business model and were advised to streamline their operations.
The founders began by highlighting the lack of career counselling facilities available to many school-going students in the country. They revealed that only 77 per cent of students are aware of just six career options. Despite the magnitude of the problem, they claimed to have a solution through their platform, offering quick career counseling to students. While some ‘sharks’ were intrigued by the business model, Piyush Bansal identified a flaw.
Bansal pointed out the profitability of the B2B model contrasted with losses in the B2C model. He expressed concern over the internal management of the business, suggesting that the founders themselves needed counseling on their business model before offering guidance to others. Vineeta Singh and Anupam Mittal also withdrew their investment offers.
Aman Gupta, however, saw potential and extended an offer to the founders. Ritesh Agarwal followed suit and proposed a deal, offering to waive interest for a year if the founders expanded their services to his hometown of Rayagada, Orissa.
Aman and Ritesh collaborated on a joint offer, although their differing suggestions on target demographics prompted Peyush Bansal to remark on the importance of having a clear perspective. He said, “If you don’t have a point of view, everybody around you has a view.” Aman, who looked a little offended, responded to Peyush’s jibe and said, “Kaamal ke log hai. It’s a case of sour grapes.”
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