Clapstore, a toy brand backed by Zerodha co-founder Nikhil Kamath, recently scored a huge deal on Shark Tank India 4.  The young founders of the brand — Vedang and Yash — pitched their ‘busy board’ toys on the show, which they claimed could be of great help to parents wanting to reduce the young kids’ screen time.Â
The founders, aged 21 and 22 years old respectively, impressed the ‘sharks’ with their phenomenal sales numbers. They mentioned their products logged sales worth ₹2.4 crore in the first year.Â
Vedang and Yash sought an investment of ₹80 lakh for 4 per cent stake in their company, taking Clapstore’s valuation to ₹20 crore.
When they revealed their aim of achieving ₹6 crore in revenue this year and that they are making around 20 per cent in profits, Lenskart co-founder and CEO Peyush Bansal predicted that Clapstore could become the next LEGO if the founders played their cards right.Â
He was also impressed with the founders’ energy and fast learning. SUGAR Cosmetics co-founder CEO Vineeta Singh was impressed with the founders’ understanding of the problem they were addressing and the market.
Shaadi.com’s Anupam Mittal was also impressed when the young founders said that they use a barter system instead of paying influencers to market their products.
He also said that the founders cracked the market very well even though they do not have children themselves. During the pitch, the founders also mentioned that their company has the backing of YouTuber Raj Shamani.Â
Upon hearing this, Anupam Mittal and boAt Lifestyle co-founder and CMO Aman Gupta offered the founders ₹80 lakh in exchange of 7 per cent. Peyush, on the other hand, agreed to meet the founders’ terms without negotiations.
Following this, Titan Capital founder Kunal Bahl asked the founders: “What offer would make you happy?” and also agreed to meet their terms. Clapstore founders were successful in clinching an all-shark deal on the show at ₹1 crore for 10 per cent equity.Â