- Founder: Aditya Naithani, Shubham Agarwal, Prateek Singh, Nikhil Kumar Pathak & Avnish Kumar
- Business: Hourly hotel bookings
- Ask: ₹1 Crore for 1.66% Equity
- Net worth/Valuation: ₹60.2 Crore
- Result: No Deal
- Sharks: No Deal
- Episode: Season 2 Episode 47
Brevistay Shark Tank India Pitch:
Brevistay is an app and website offering hourly hotel room bookings for 3, 6, and 12-hour durations at affordable rates. The founders, Aditya Naithani, Shubham Agarwal, Prateek Singh, Nikhil Kumar Pathak, and Avnish Kumar, presented their business concept to the Sharks on Shark Tank India Season 2 Episode 47. Their services are available through their app and website.
Brevistay started in 2016 with 5 cities and now have expanded to over 3200 Hotels in 70+ cities. They have 10 Lakh+ downloads and over 8 Lakh bookings. They were India’s largest hourly room providers at the time. Their vision is to make Brevistay the biggest platform for hourly hotel bookings. 70% of their consumer base is couples, which was 80% the previous year and 90% the year before.
The majority of hotels are in metro cities, but they started expanding to Tier 1 and 2 cities at the time of the pitch. Their average booking price is at ₹800. Last year, their Gross Merchandise Value was at 18 Crores with the company earning ₹3.04 Crores. Brevistay charges an average commission of 17% from hotels. They closed FY21-22 in profit of ₹16 Lakh, whereas they are losing money in FY 22-23. Last month, revenue was at ₹42 Lakh with GMV at ₹2.5 Crores.
Brevistay Shark Tank Negotiations:
Aman goes out first, given he had concerns about the longevity of this business and the way competition is investing money in this area. Namita thinks that their business model is risky, and the entrepreneurs were not able to generate her interest in this investment, so she steps out of the deal as well. Anupam comments that the market is very big for this, but he asks if the company studied the Japanese market, to which they respond “No,” and he says that he doesn’t see the defensibility of this business.
Vineeta goes out, citing this is a needed business in the market, but she doesn’t see how they are going to compete with others. Anupam goes out, citing that they do not know the industry size and their numbers. Amit goes out because he doesn’t see the growth strategy.
Did the Sharks make the right choice by not investing in this business? Let’s find out!
How is Brevistay Doing After Shark Tank India?
Our research into the company revealed that despite not getting a deal on Shark Tank India, Brevistay is still going strong. As of October 2023, they have hotels in all major cities in India on their app and website. Their website suggests that they have helped over 1.5 million people find a place to stay with over 10,000 rooms in 4,000+ hotels across India. They have over 1 million downloads on Google Play Store and a 4.7 rating on the App Store.
An article in Entrepreneur.com suggests that in August 2022, Brevistay raised INR 3 crore in seed funding from IAN lead investors Uday Chatterjee, Hari Balasubramanian, and Sri Prakash. The investment will enable the company to develop more creative ways to create a convenient and beneficial ecosystem for customers and hotels. This funding round occurred around the time they pitched on Shark Tank India as well.
Source: Brevistay Instagram
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