The founders of Paradyes had gone to the show asking for Rs 65 lakh for 1% equity.
New Delhi:
An episode of Shark Tank India this week featuring a hair dye company followed the same script full of drama: ‘sharks’ fighting amongst themselves, pitchers negotiating with them and a result that left a few ‘sharks’ disappointed. But what stood out on this occasion was the buzz and debate that ensued after it aired.
Paradyes CEO Yushika Jolly took to LinkedIn to describe the hate she received online after the show aired Thursday, despite making a deal that pleased both she and her co-founder. While her co-founder, and husband, was “lauded for his excellent negotiating skills,” she said the hateful messages she received were colored by “gender bias.”
assertive and with opinions,” the 26-year-old CEO wrote in a LinkedIn post. “In the past 48 hours, I’ve been called “rude, smug, manipulative, greedy, bitch and unprofessional.” There are a lot of hate messages in my DMs, in the comments on my personal page, and even on my brands page. I draw attention to the gender bias because my husband, who is also a co-founder, has been praised for his excellent negotiating skills,” she wrote.
Defending her decision to take up the offer from “boAt” founder Aman Gupta and Sugar Cosmetics CEO Vineeta Singh rather than Lenskart CEO Peyush Bansal, she said she knows her “company better than any keyboard warrior then”.
Yushika Jolly and Siddharth Raghuvanshi had gone to the show asking for Rs 65 lakh for 1 percent equity in their company. While Piyush Bansal offered them what they asked for, the two eventually took up Vineeta and Aman’s offer of Rs 65 lakh for 2 percent equity.
“We could have chosen Peyush if we were really that ‘greedy’… And for anyone wondering why 1% make a mess, please start building your own business and only then will you realize how important even 1% is, Yushika Jolly wrote.
Mrs. Jolly, however, found a bright spot for the hatred she had to endure. “After our broadcast, our sales almost doubled on our website and a few specific marketplaces. Our website has seen a 20x spike in traffic.”
The second season of Shark Tank India kicked off earlier this month. The reality show, which debuted a year ago, is one in which startups seek investment from established businessmen. The show is the Indian version of the Shark Tank show from the US, which is currently on its 14th season.
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