Final Up to date: January 10, 2023, 21:42 IST
Ganesh Balakrishnan had left everybody emotional along with his pitch in Shark Tank India 2.
Ganesh Balakrishnan’s entrepreneurial spirit has been lauded by the Sharks and netizens alike.
One of the vital-watched actuality collection on Indian tv, Shark Tank India has gained immense reputation. A lot in order that the collection has come again with its second season. Nevertheless, there’s one episode of the present season that has been making headlines. One of many current episodes was crammed with feelings when Ganesh Balakrishnan who got here to hunt financing for his shoe firm, Flatheads, broke down on digicam. He was given a deal, however he declined it. He did, nevertheless, develop into fashionable on Twitter, which aided his firm, which was in any other case at risk of failing.
What Occurred With Ganesh Balakrishnan In Shark Tank India 2
On the present, Ganesh Balakrishnan claimed that Flatheads first appeared in 2019, however issues arose because of the Covid-19 pandemic-induced lockdown that stored individuals indoors. The entrepreneur broke down whereas admitting that his enterprise is failing and that he’s in want of cash. He added that as a way to preserve the corporate viable for the previous two months, he had contributed Rs 35 lakh from his private financial savings.
Initially, the Sharks weren’t satisfied by his pitch and requested Ganesh Balakrishnan what had been his future intentions with the corporate. Ganesh acknowledged that he would search for employment, collaborate with an knowledgeable within the discipline, after which try to launch his personal agency.
In the meantime, two sharks, Peyush Bansal and Vineeta Singh, then made a proposal to Ganesh Balakrishnan providing him Rs 75 lakh in alternate for 33.3% of the corporate’s shares. His enterprise was valued at Rs 2.25 crore on this supply. Nevertheless, Ganesh requested a valuation of Rs 25 crore provided that his enterprise generated Rs 3.4 crore in gross sales in FY22. Even if Ganesh used his personal funds to fund the operation of the corporate lately, he turned down their supply.
Ganesh Balakrishnan Impresses Viewers, Leaves All Emotional
Ganesh Balakrishnan and his firm started trending on Twitter and Google traits shortly after the episode was broadcast on Sony. This helped the failing firm acquire recognition. Surprisingly, Flatheads was capable of dump all of its stock in underneath 48 hours. The founder shared his pleasure by way of LinkedIn in a heartfelt word.
“We’ve virtually bought out our stock in India, so pardon us when you aren’t capable of finding your dimension on www.flatheads.in. Could be wonderful when you can inform your folks within the US and UAE to strive our footwear,” he wrote.
Who Is Ganesh Balakrishnan?
Ganesh Balakrishnan’s entrepreneurial spirit has been lauded by the Sharks and netizens alike. So right here’s what we find out about him to date: He’s an entrepreneur with a background within the IIT and 20 years of expertise working overseas. He’s a co-founder of the corporate Flatheads which makes informal footwear for the city workforce and sells them for between Rs 1,000 and Rs 5,000 per pair. Moreover, it sells the primary sneakers product of linen and banana fiber.
Ganesh has held positions with organisations together with Momoe Applied sciences, ShopClues, Bain & Firm, Honeywell Know-how, and others earlier than founding Flatheads. As well as, he co-founded Momoe, a cellular funds platform that was purchased by startup unicorn ShopClues.
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