According to a new investigation, the seven reputed investors made good on fewer than half of their investment pledges over a year after the first season of “Shark Tank India,” the latest in a string of critiques for the show.
According to market analytics firm PrivateCircle, the “sharks” invested in only 27 of the 65 investment promises revealed on the TV show. According to PrivateCircle, the sharks promised $4.87 million to the firms but have only invested roughly $2 million as of last week. According to the business, it arrived at its conclusion after poring over corporate papers. Debt investments were not included in the analysis.
The outlook for the second season of “Shark Tank India,” which completed in March of this year, appears even more bleak. Despite the shark panel guaranteeing 115 deals, just one has been notified to the local minister.
To be sure, a few criteria are required. There is a strong likelihood that numerous investments are still undergoing due diligence. Furthermore, persistent technological issues on the ministry’s website could be a legitimate explanation for the low level of disclosure.
The broadcaster of “Shark Tank India,” Sony Network India, declined to comment on Tuesday.
“Our findings indicate that some deals committed to on the show may have fallen through due to issues with company due diligence.” In addition, several firms appear to have passed on the Shark Tank deal in order to secure investment from other investors at better valuations,” stated Sumanjan Kumar, lead financial analyst at PrivateCircle, in a statement.
The new analysis is the most recent criticism leveled at the show, which Sony claims has reached more than 250 million people. Some entrepreneurs that featured on “Shark Tank India” in recent months have slammed the show, claiming that many investors abandoned them after promising a deal on the show.
Anupam Mittal, the founder of Shaadi.com and one of the investors on “Shark Tank India,” defended the show in a recent LinkedIn post, claiming that 66% of the deals presented during the show’s first season were successfully executed, a figure he claims exceeds that of its American counterpart. According to him, most deals take three to six months to close.
Aman Gupta, co-founder of the consumer electronics business Boat and an investor on “Shark Tank India,” defended the show as well, noting that many entrepreneurs choose to negotiate or decline the investment proposal after the telecast.
According to PrivateCircle’s investigation, at least six firms passed on their Shark Tank deals and sought money from different groups of investors at greater valuations.