The Background:
Recently a dental company, Perfora, received massive funding from Shark Tank India, tuning to Rs 80 Lakhs. Sales increased after the episode was broadcast on the show, and large daily orders filled their inventory to the brim. The brand recently posted a video showing how quickly they have fulfilled orders. Unfortunately, the piece exposed their work environment, which the internet community criticized as being “Toxic.”
Here is the post made by the company:
Image Source: The Times of India
It is not the first time that Shark Tank has been involved in various controversies. Here are the top 10 controversies created by Shark Tank:
1) Accused Of Ghosting:
After agreeing to invest in his start-up during the show’s first season, a start-up founder has claimed that the sharks ghosted another co-founder. Akshay Shah, Founder and CEO of iWebTechno, took to Twitter to share, “Met a founder yesterday who had got a deal from 2 sharks in season 1 and who never met him nor responded to his mails post #SharkTankIndia – Ab kya bolen?”
Akshay Shah
Image Source: Twitter @AkshayiWeb
Shah continued by saying that the ghosted founder chose not to disclose the names of the sharks because “most founders fear.”
2) The Extreme Hate:
The founder and CEO of a hair-dye company, Yushika Jolly, took to LinkedIn to inform the amount of hate after her company’s episode was aired.
She wrote, “1. HATE MESSAGES. LOTS OF THEM. I’m starting to believe that we, as a country, despise women for being assertive and having opinions. In the last 48 hours, I have been called “rude,” “smug,” “manipulative,” “greedy,”, “b**ch” and “unprofessional.”
Yushika Jolly and Her Husband With The Sharks.
Image Source: Jagaran English
She further wrote, “Hate messages abound in my DMs, in the comments on my personal page, and even on my brands’ page. I draw attention to the gender prejudice because, in contrast, my husband, who is also the co-founder, is getting praised for his excellent negotiating skills and his smile (which I do agree with).”
3) Namita’s Alleged Hateful Post:
The executive director of Emcure Pharmaceuticals and a judge on Shark Tank India, Namita Thapar, tweeted that her “educated home maid” had stolen her phone and posted a disparaging message about her online.
This is what hate does to this world, makes people toxic. An educated house help who was removed stole my phone & put a hateful post on me on social media. Price of being a public figure ! Apologies !
— Namita (@namitathapar) January 14, 2023
The post read, “This is Namita’s son. I just want the world to know that the person you see on TV is not what you think she is. Unfollow her as soon as possible. Will explain why in due course of time.” Meanwhile, her Instagram bio was changed to “Sh**ty mother, Sh**tier wife.”
4) The Shark Tank Companies Are Running Into Losses:
Ankit Uttam wrote a lengthy LinkedIn post explaining why Shark Tank India “never worked for him.” Comparing Shark Tank India to the American version, the author and marketer showed how the judges’ businesses are losing money. He claimed that the sharks lacked the authority to counsel the show’s competitors on business matters.
Ankit Uttam
Image Source: LinkedIn
5) The Walking Out Drama:
Namita Thapar of Shark Tank India 2 has been frequently in the headlines due to her heated arguments with Anupam Mittal. In the trailer, Thapar criticised Mittal for instructing him on national television to curb his ego. The sharks fought live on air, and Namita Thapar stormed off after swearing at Anupam Mittal. It all began with a pitch for the Netroots home furniture brand.
Namita Thapar
Image Source: India Times
6) The First Episode Fight:
The first episode itself featured the sharks in a colourful business dispute. The season’s opening pitch was thrown by Yeshoda and Rhea Karuturi, two Bangalore-based sisters who started the business Hoovu Fresh. For usage in poojas, Hoovu Fresh sells domestic Indian flowers.
Yeshoda and Rhea Karuturi
Image Source: Mad4India
In light of the generational shift, Singh informs the pitcher that a growing market is not their company’s biggest challenge. “There will undoubtedly be a general decline,” she said. “Why?” ponders Aman Gupta. He says,” Pooja is done by all. I do as well.” Vineeta Singh says, “performing puja involves numerous steps. like buying flowers at the market and then offering them in prayer. Do you go out and buy flowers for the pooja?” He says, “Yes,” and Singh awkwardly says, “ok.” He silently reacts, “Kya baat kar rahi hai.”
7) Hurling Abuses To A Kotak Employee:
Ashneer Grover, the co-founder and CEO of BharatPe, has found himself in a severe controversy, leading him to suffer legal actions and backlash from netizens in the country. `An unverified audio clip has surfaced on social media that has him and a family member allegedly hurling abuses at a Kotak employee.
Ashneer Grover with his wife, Madhuri Jain Grover.
Image Source: Business Patrika
8) Say No To LensKart:
Peyush Bansal, the CEO and co-founder of Lenskart, made a casual remark that sparked outrage among internet users. According to a recording of Bansal, “Ek advise hai, CA se durr raho.” Because of his comment, outraged viewers expressed their opinions, and “Say No To LensKart” became a trending topic on Twitter among netizens, many of whom were CAs or CA candidates.
Peyush Bansal
Image Source: India Times
The comment has been deemed unneeded and unjustified by internet users. Peyush Bansal’s removal from the Shark Tank India judging panel has also been petitioned for on change.org.
9) Poor Research:
Two founders of a company made a pitch to Shark Tank India. However, their pitch and the show were severely criticized. The Singh family presented a unique form of “science wizardry” that allows children to recognize, watch, and even read while wearing a tight blindfold over their eyes. The company’s founders, Gurnandan Singh and Rajwinder Kaur, attempted to raise 50 lakhs in exchange for a 5% stake in their business. The Sharks were intrigued by the technique, but none of them invested since they knew it would not be successful in the long run. The family was seen advertising Head and Heart, a product that has since been revealed as a hoax originating in Japan.
Image Source: Sony Liv
In the most recent development, a YouTube channel named Science is Dope has revealed this company and their technique to deceive their clients. Even though none of the Shark Tank India investors invested money in this pitch, the programme gave the con artists a platform to advertise their wares.
10) Buying Out Competition:
In an episode of Shark Tank, an entrepreneur creates a company, Hammer Lifestyle, which produces wireless headphones and other goods. He ended up in the Aman Gupta-dominated industry. Instead of making an offer, Aman Gupta demands that the businessman sell his company, Hammer Lifestyle, to him for Rs 100 crores. The audience doesn’t seem to like this very much.
Aman Gupta
Image Source Hello! India Magazine
