- Founder: Nitesh Singh & Sunil Chandra Saha
- Business: Tea Brand
- Ask: ₹ 75 Lakhs for 1% Equity
- Valuation/Net worth: ₹ 75 Crores
- Result: ₹ 50 Lakhs for 3% Equity and ₹ 25 Lakhs Debt @ 12% Interest
- Sharks: Aman Gupta
- Episode: Season 2 Episode 26
Blue Tea Shark Tank India Pitch:
Blue Tea is an Indian premium tea brand that provides fresh herbal teas sourced directly from farms to consumers within two weeks. Their product range includes various floral tea flavors such as Butterfly Pea, Chamomile, Rose, Jasmine, Hibiscus, and Lavender. Their unique selling propositions are that their tea doesn’t have bitterness, contains more antioxidants, is soothing, and has no caffeine. Founders also shared that started in 2018 and are now available in India and 12 other countries through their website and other marketplaces. Additionally, They offer 50 flavors in India and 35 in the United States.
Blue Tea’s monthly sales are at 1.5 Crores, but the company has mentioned that they have been flat in terms of growth for the last few months but they have a 15% net margin, which they reinvest in marketing. They also presented that eighty percent of their sales come from overseas, and 20% come from India. The US accounts for around 60% of their total sales. They made ₹50 Lakh in FY 19-20, ₹2 Crores in FY 20-21, and finished last year with ₹10 Crore in revenue. However, They are projecting to close FY22-23 at 30 Crores. They have around 8500 reviews on Amazon and a 4.3-star rating.
Blue Tea Shark Tank Negotiations:
Anupam didn’t like how entrepreneurs weren’t giving straight answers, so he stepped out of the deal. Amit had a similar view and went out because he said he couldn’t trust them. Namtia commends the business but cannot relate to the product on a personal level, so she goes out. Vineeta thought that the founders were not very transparent, so she goes out.
Aman is interested in the company and relates to the co-founders. Therefore, he offers ₹15 Lakh for 5% and the rest as debt at 12%, without realizing that he is offering a 3 crore valuation to a company with a projection of 30 Crores in valuation. The company still counters him respectfully at ₹50 Lakh for 2%, which Aman refused, and suggested 3% for the same amount, which the company accepts.
How is Blue Tea doing after Shark Tank India?
Our research into the company revealed that their deal with Aman Gupta closed after the show aired. Blue Tea Founder Nitesh Singh shared on a podcast with Surya Tiwari that after the show aired, they got a significant boost in sales from the Indian market, which was only 20% of their total sales prior to the show. Their sales jumped 7X within 24 hours of the show airing. He added that the Shark Tank show helped build trust in the Blue Tea brand. As of October 2023, The Brand is still in Business and Thriving!
Source: Blue Tea Instagram
Here is how other companies doing from Season 1 Episode 26!
Gavin Paris
Update Coming Soon!