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Founded in 2014, Imagimake is winning the hearts of the market with its innovative toys, games, puzzles and craft kits.
The businessmen made an offer of Rs 1.5 lakh crore for 0.5 per cent equity. (Image source: Instagram)
Shark Tank India Season 4 has already started with a bang, promising to stir up the emotions with some fascinating and innovative startup stories. Without a doubt, the sharks, including Anupam Mittal (Shaadi.com), Vineeta Singh (SUGAR Cosmetics), Aman Gupta (boAt Lifestyle), Namita Thapar (Emcure Pharmaceuticals), Kunal Bahl (Snapdeal), Piyush Bansal (Lenskart), Ritesh. Agarwal (OYO) and others are breathing new life into the industry with their lavish investment decisions.
Having said that, the latest episode of the business reality show saw two entrepreneurs named Ravi Kumar and Disha Katharani pitching their brand, Imagimake, to sharks. The entrepreneurs bid for Rs 1.5 lakh crore for 0.5 per cent equity, valuing their company at Rs 300 crore.
Moving forward, Ravi explained their journey to expand their products and grow their distribution channels, leveraging platforms like Flipkart and Amazon. They revealed that 35% of their sales come from exports, a figure that shocked Aman Gupta. However, Aman, Kunal Bahl and Azhar withdrew from the field as they felt that they were already successful entrepreneurs and would not add any significant value.
At this point, Vinita is offering them a deal of Rs 50 lakh for 0.5 per cent equity, plus debt of Rs 1 lakh at 10 per cent interest for 3 years. On the other hand, Ritesh is making an offer of Rs 1.5 lakh crore for 1.5% equity.
It was this moment that caught everyone’s attention. Justice Azhar Iqbal showed his sharp mathematical skills by pointing out, “You have offered Rs 1.5 crore for 1.5% equity, but your offer is technically better because its pre-money valuation will be 99.5, while your offer will be 98.5.”
Hearing Azhar’s quick explanation, Vineeta, Aman and Kunal burst into laughter. “I love your math,” Vinita expressed, while Aman added, “That was fun; it has some powerful charm.”
Admitting his mistake, Ritesh revised his bid and offered Rs 1.5 lakh crore for 1.2% equity, at a valuation of Rs 125 lakh.
Ravi and Disha took time to think; Meanwhile, the Sharks discussed Azhar’s amazing math skills. Venita said: “Al-Azhar star, hi yaar.” Mera din baan gaya aaj.”
In the end, the entrepreneurs came back and thanked Vinita and Ritesh. But in the end, they refused to accept the offers.
Founded in 2014, this Mumbai-based brand has captured the hearts of the market with its innovative toys, games, puzzles and craft sets. The company has grown significantly, selling over a million products a month to households across online platforms and over 4,000 offline stores. The price range of their products starts from Rs 199 to Rs 2000. Their best selling product in the market is the Indian Man Puzzle.
Under the leadership of Disha Katharani, Imagimake products are designed in-house by its talented team, with around 15 members dedicated solely to product design. Furthermore, the company operates a 250-member strong manufacturing team, with a 20-member operations team and 40-member marketing and finance team, ensuring smooth workflow in all aspects of the business.