Apart From Aman Gupta’s BoAt, All Shark Tank India Judges Are In Huge Losses

The show Shark Tank India, which everyone raved about last year, has returned this year with a new season featuring the same concept accompanied by minor changes. The main goal of Shark Tank India is to assist budding company owners by persuading some of the country’s biggest and most successful CEOs to invest in their projects.

While most of the changes are not discussed very much, the change in the roaster of judges or sharks has become the talk of the town.

Ashneer Grover, a co-founder of BharatPe, was perhaps the most well-liked shark in Season 1, but in Season 2, CarDekho CEO Amit Jain has taken his spot. The change has sparked debate on social media over whether the Shark Tank India judges are genuinely deserving of running the program.

This debate got fueled when Ankit Uttam, a best-selling author on Amazon, wrote a post on LinkedIn about the financials of shark-run enterprises and about his investigation, which revealed that several of the judges’ companies had incurred significant losses.

Ankit Uttam’s LinkedIn post where he mentioned the losses suffered by the Shark Tank India judges went viral on the internet

A well-known author began his most recent LinkedIn post by discussing how, in contrast to Shark Tank US, Shark Tank India hasn’t been successful for him since the first season.

He said that instead of relying on venture capital funding or sinking in enormous losses, the judges on the US edition of the program, Barbara Corcoran, Mark Cuban, Lori Greiner, Rober Herjavec, Daymond John, and Kevin O’Leary, are managing enterprises that actually earned a profit.

He further noted the losses suffered by Vineeta Singh’s SUGAR Cosmetics, Ghazal Alagh’s Mamaearth, Ashneer Grover’s BharatPe, Anupam Mittal’s Shaadi.com, Peyush Bansal’s Lenskart, and Amit Jain’s CarDekho.

Here is what Ankit Uttam’s LinkedIn post stated about the Shark Tank India judges:

1. Vineeta Singh

Talking about the losses suffered by Vineeta Singh- CEO of SUGAR Cosmetics, he wrote,

Vineeta Singh’s SUGAR Cosmetics reported a loss of INR 75 Cr in FY22 up from INR 21.1 Cr in the fiscal year FY21.

2. Ghazal Alagh

Talking about Ghazal Alagh’s Mamaearth, he wrote,

Ghazal Alagh’s Mamaearth for the first time since inception had posted a profit for FY22 at INR 14.44 Cr after suffering losses of Rs. 1,332 crore in FY21 and ₹428 crore in FY20. Also the company has reported a 4 crore net profit for the first half of FY23. So the company has just lately begun turning profitable. Also a recent Mint news report states that they are going for an IPO at a valuation figure of INR 24000 Cr. 24000 Crore when the profits are just 14 crore !!!!!! 😱

This clearly states that the company Mamaearth has been making profits just recently.

3. Ashneer Grover

Talking about BharatPe’s loss under Ashneer Grover’s leadership, he wrote,

BharatPe’s total loss stood at Rs 5,594 crores in FY 2022. In FY 2021, the company had recorded a total loss of Rs 2,961 crore. Ashneer Grover was recently removed from the company so these losses will be also under his leadership since he was the CEO for the major part of the FY22.

4. Anupam Mittal

Anupam Mittal owns more than one brand like Shaadi.com, Makaan.com, Mauj mobile, etc.  Talking about Anupam Mittal’s loss and the brand’s financial secrecy, he wrote,

Anupam Mittal is the owner of brands like Shaadi. com, Makaan .com, Mauj Mobile. Except Shaadi other brands are either dead or not making enough money. Even Shaadi’s financials are NOT known in public except one recent report about its future IPO that may or maynot arrive since one such attempt was also made in 2009.

5. Peyush Bansal

Talking about Peyush Bansal company Lenskart’s loss, he wrote,

Peyush Bansal’s Lenskart posted a consolidated loss of INR 102.3 Cr in FY22. Enough said!

6. Amit Jain

Talking about the CarDekho CEO and the new judge of Shark Tank India Season 2, Amit Jain’s loss, he wrote,

Amit Jain’s CarDekho posted losses of ₹246.5 crore in the financial year 2021-22.

7. Aman Gupta

But the LinkedIn user also pointed out that the one business that has been successful from the start is Aman Gupta’s BoAt. He wrote,

Aman Gupta’s Boat is the only company that has been profitable since its inception.

8. Namita Thapar

However, it was his comparison of Namita Thapar to Ananya Pandey in the past that garnered the most attention.

Using the term “nepotism,” the LinkedIn user equated Namita Thapar to Ananya Pandey from Bollywood because Thapar did not establish Emcure Pharma. It was her father who founded it, and he is still its CEO. He wrote,

Namita Thapar is NOT the founder of her company Emcure Pharma. It’s her father who started it and still is its CEO. So her credentials seem similar to that of Ananya Pandey in Bollywood. (Did somebody hear nepotism).

For the uninitiated, Namita Thapar is the child of Satish Mehta, a first-generation businessman and the founder of Emcure Pharmaceuticals in Pune. She spent her formative years in Pune and obtained a degree in business from Pune University. She is also a registered chartered accountant with the Institute of Chartered Accountants of India (ICAI). In 2001, she earned her MBA from Duke University’s Fuqua School of Business.

She is the Executive Director of Emcure Pharmaceuticals Ltd. in Pune, one of India’s major pharmaceutical firms with operations in over 70 nations, where she also oversees operations in India.

Within no time, his post had gone viral not only on LinkedIn but also on other social media platforms.

Fans were surprised to see the losses incurred by their favourite sharks, who continue to invest significant amounts of money in other businesses

While many felt that Ankit Uttam’s was unfair and too negative towards the Sharks.