Tensions are rising on Shark Tank India as founders and sharks engage in a heated dispute over delays in deal closures and changes in terms. The popular reality show features aspiring entrepreneurs pitching their ideas to a panel of investors, known as “sharks,” in the hopes of securing investment. However, several founders have alleged that the sharks are reneging on their commitments, causing financial strain on their businesses.
Ashneer Grover, the outspoken founder of BharatPe and a former shark on the show, criticized the sharks for their sluggish decision-making process. Grover argued that the sharks should be swift in their actions, resembling sharks in their quick decision-making, rather than dolphins. His comments reflect the frustrations shared by many founders who feel that the sharks’ indecisiveness and renegotiation of terms are jeopardizing their businesses.
One such founder, Rahul, who secured a deal with Anupam Mittal, founder of Shaadi.com, in the previous season, revealed that fundamental disagreements had arisen, with the sharks even questioning the viability of his business after the deal was made. Rahul’s case is not an isolated incident, as multiple founders have experienced similar challenges, leading to significant delays in receiving funds and uncertainty about the future of their ventures.
The growing discontent between the sharks and founders has brought the show’s future into question. While the sharks argue that they provide funding opportunities for entrepreneurs who struggle to secure capital elsewhere, founders claim that the sharks’ actions have pushed their businesses to the brink of closure.
Anupam Mittal defended the sharks, stating that deals sometimes fall through due to founders not complying with agreed-upon conditions or seeking better offers from the market after their pitch airs. He also highlighted that the complexities of closing funding rounds, including legal, financial, and tax diligence, often prolong the process.
Despite these explanations, many founders feel frustrated and rejected. They argue that the sharks should be held accountable for their commitments and propose the use of escrow accounts to ensure funds are readily available for successful pitches.
As the show prepares for its third season, both sharks and founders must address the issues at hand and work towards finding common ground. The future of Shark Tank India hangs in the balance, as it remains to be seen whether it will continue to inspire a new generation of entrepreneurs or deter them from pursuing their dreams.
