Harsh Goenka, an industrialist, tweeted about Shark Tank India judges and their businesses, claiming that their ventures are mostly losing money, prompting Shaadi.com founder and “shark” Anupam Mittal to call the data biased, superficial, and incomplete.
“I enjoy Shark Tank India as a program and I think it is a great platform for our budding entrepreneurs. But whenever I think of sharks, I think of the movie ‘Jaws’ and bleeding,” Goenka tweeted. He also shared data about the judges’ businesses, which included a list of their earnings for the fiscal year 2021–2022.
The information, which did not cite a source, stated that Aman Gupta’s company boAt reported a profit of Rs 79 crore in fiscal year 2020, while Mittal’s shaadi.com reportedly suffered a loss of Rs 27 crore. Additionally, it stated that since then, no profit disclosure had been made.
Vineeta Singh’s Sugar Cosmetics reportedly lost Rs 75 crore, while Peyush Bansal’s Lenskart reportedly lost Rs 102 crore. Amit Jain’s company Cardekho.com, a new entrant to the judges’ panel, was reportedly loss making last year with Rs 246 crores in negative.
Emcure Pharmaceuticals, founded by Namita Thapar, did not make the list because it is not a startup.
“I know you meant it in jest so with all due respect sir, I think u reacted to what appears to be superficial, biased & incomplete data. Happy to learn from stalwarts, but just to clarify, like u, the sharks don’t bleed red, we bleed blue & that’s why we do what we do,” Mittal slammed the data on Twitter, but added that he was eager to learn from industry veterans like Goenka.
Shark Tank India season 2 is currently airing, with judges from season 1 missing this time, including former BharatPe MD Ashneer Grover and Mamaearth co-founder Ghazal Alagh.