Entrepreneur Jeevika Tyagi, CEO of athleisure startup Aastey, reacted to Shark Tank India judge Namita Thapar’s critique of the brand’s marketing spending in the latest episode. During their Shark Tank India appearance, Jeevika and her co-founder Kanupriya Mundhra were scrutinised. Vineeta Singh noted that startups which get funding easily might lack financial discipline. When asked about their bank balance, the founders revealed it was zero.
To this, Aman Gupta said, “To hum invest kisme kar rahe hai? Business kaha hai? Maal bhi bikk nahi raha (So, where will we invest, where is the business? Your products are also not selling)”. Vineeta then went on to add, “Ye jo financial indiscipline aapne dikhaya hai, that is baffling me (The financial indiscipline that you have shown is baffling me)”.
Jeevika shared a clip from the episode where Namita Thapar starts with, “You took Rs 10 cr from the investors and spent the amount primarily on marketing? I am out.” Jeevika later clarified why the selective editing of the episode was misleading.
“Despite the show’s title, ‘Celebrating Entrepreneurial Breakthroughs,’ the poster asks, ‘Is this financial indiscipline?’ Namita, I think this oversight shows a big ‘financial indiscipline’ on your part, as you didn’t understand a simple thing. Everyone talks about our stock, but why aren’t we selling it? Where did our stock come from?
“They say we spent the whole Rs 10 crore on marketing. But what about the money for our stock, its storage, team salaries, and running the business? Sony cut out all that important information. I’ll keep sharing insights like these,” she said in Hindi in the video she uploaded on her Instagram account.
Shark Tank India returned with season three on January 22, 2024. Several familiar sharks from the previous seasons including Namita Thapar, Executive Director at Emcure Pharmaceuticals Limited, Aman Gupta, Co-founder of Boat, Peyush Bansal, Co-Founder and CEO of Lenskart, Anupam Mittal, Founder and Director of Shaadi.com and Vineeta Singh, CEO of Sugar Cosmetics, returned for Shark Tank India Season 3.
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