Shark Tank India is a popular reality show where entrepreneurs pitch their business ideas to a panel of investors, known as “sharks,” in the hopes of securing funding and mentorship. One of the recent pitches on the show came from the founders of Paradyes, a company that has developed a temporary hair color product.
The founders of Paradyes asked for 65 lakhs (approximately $90,000) in exchange for 1% equity in their company, valuing the business at 65 crores (approximately $9 million). The temporary hair color product, which is said to last for 8-10 washes, is expected to have an annual potential revenue of 5 crores (approximately $700,000).
The sharks were impressed by the founders’ business background and were initially interested in investing in the company. However, the initial offer of 65 lakhs for 1% equity was met with counter offers from the sharks. Pitchers Aman and Vineeta offered 3% for the same amount, but Piyush went a step further and offered 2% for 65 lakhs. The founders were impressed with Piyush’s offer, and a heated negotiation ensued.
In a first for the second season of Shark Tank India, the sharks engaged in a heated “fight” over the opportunity to invest in Paradyes. In the end, Aman and Vineeta’s last offer of 2% equity for 65 lakhs won the deal.
The temporary hair color market is a growing one, and Paradyes’ innovative product and experienced founders make it a promising investment opportunity. With the backing of a shark, the company is poised for success in the industry.
The 8-10 wash color is a unique selling point for the product as it is a good alternative for people who like to change their hair color frequently without damaging their hair. The product is expected to appeal to a wide range of customers from college students to working professionals.
The 5 cr. Annual potential revenue is a testament to the market demand for this type of product. With the right marketing and distribution strategy, the company could potentially see even higher revenue in the future.
The deal with Aman and Vineeta is a smart move for the company as they bring not only the financial support but also their expertise in the industry. With their guidance and mentorship, Paradyes can further develop their product and bring it to a wider market.
The episode of Shark Tank India featuring Paradyes showcased the potential of the company and the potential of the temporary hair color market. With the right backing and support, Paradyes is well on its way to becoming a major player in the industry and compete with brands like streax and loreal.
Paradyes Shark Tank India Episode on Youtube
How to Buy Paradyes Semi-Permanent Hair Color?
- Click here to Visit official website
- Choose your favorite color
- You can choose based on Demo video
- Click on Add to Card
- Proceed with your details on Checkout!