Shark Tank S1 deal closures: Ashneer Grover reveals investment details
Ashneer Grover, the co-founder of BharatPe and a former judge on Shark Tank India, is known for his candid opinions. Grover has not appeared on the show since its first season. Now, he has revealed details about the deals he honored, claiming to be number two in terms of completed deals. But there is a reason why Grover has shared these details.
Why does this story matter?
Shark Tank offers entrepreneurs a platform to pitch their ideas to some of India's top business minds and secure investments. However, criticisms have been mounting against the show, with many founders claiming that sharks (judges) often go back on their investment pledges. Grover recently called sharks "dolphins" for their refusal to close deals they promised.
Reports claimed Grover didn't complete most of his committed deals
Grover's revelation comes against the backdrop of recent reports by ET Tech and Moneycontrol. The reports claimed Grover only honored eight out of 21 deals he committed to. The reports were based on an analysis conducted by PrivateCircle Research. Per the analysis, Grover was among the bottom three in terms of completed deals. This prompted Grover to respond.
Grover says he honored more deals
According to Grover, he honored 11 deals from season 1 of the show. He, however, did not mention how many deals he committed to during the show. Based on a screenshot revealed by Grover, he invested a total of Rs. 2.95 crore. He added he was number two in terms of the absolute percentage of deals completed and the percentage of commitment invested.
Grover refutes reports about his Shark Tank season 1 investments
He provided date of investments and PAN of companies
Grover even provided the dates of investments and the PAN number of different entities. He invested the most in Tagz, a popped chips maker. Second on the list is Revamp Moto, an EV company. BluePine Foods, a frozen food company, secured third place.
Namita Thapar tops the chart in all categories
If Grover's claims are true, he is third on the list in terms of the number of deals honored and second in the percentage of deals completed by a shark in season 1. Namita Thapar, the CEO of Emcure Pharmaceuticals leads in both categories. Boat's Aman Gupta completed the second-most number of deals. Thapar leads in the amount invested as well (Rs. 7 crore).
