Bullspree Shark Tank India Pitch:
Bullspree, a mobile app based in Ahmedabad, offers a diverse range of entertaining financial market games designed to enhance users’ financial knowledge in an enjoyable and profitable manner. The app aims to maintain the adrenaline rush associated with real-market participation by allowing users to engage in games, trading, and earning rewards while learning about investments through actual market movements. Users can build portfolios and compete with others on the platform.
They have onboarded 2 lakh users of the app in the last 6 months. Their app is available on the Play Store and App Store. They charge a 20% commission on all competitions. They had an investment round of ₹2 crores at a valuation of ₹12.5 crores in September 2021. Bullspree also raised the second round at a ₹26.5 crore valuation in February 2022, where they raised ₹1 crore. They made ₹1 lakh in February 2022, and their total turnover a month before their pitch (July 2022) was ₹90 lakh, with revenue at ₹18.5 lakh.
They are growing 100% month over month. Their customer acquisition cost is at ₹52. Bullspree’s average revenue per paid user was ₹21 in February 2022, which raised to ₹322 by July 2022. Their D60 retention is at 70%. The founders added that they have a runway of 5 months in the bank, and their monthly burn currently is at ₹18 lakh. They were projecting a revenue of ₹30 crore per month in the next 36 months.
Bullspree Shark Tank India Negotiations:
Namita goes out of the deal, citing that the company doesn’t know their competition and there is no unique difference in the app. Vineeta adds that she is hesitant to invest in online gaming platforms, so she goes out. Anupam says that they are too late to enter the market, and there is a lot of competition in the market.
Aman offered ₹26 lakh for 1% of the company and the rest as debt. Peyush joins Aman’s offer at the last valuation, which would mean that they both invest ₹75 lakh for 2.86% of the business. The company wanted to counter, which Peyush refused because it’s a high-risk company. Founders accepted the shark’s offer, and they shook hands on that.
Who are the founders of Bullspree?
Divyansh Mathur, Dharmil Bavishi & Harsh Dhanawat founded Bullspree. They are from Ahmedabad. Dharmil worked in an e-commerce company prior to this. He and Harsh were flatmates. Harsh is a chartered accountant. Divyansh met Dharmil on a train. Divyansh has done his B.Tech from IIT Delhi and has worked in 2 startups prior to this.
How is Bullspree doing after Shark Tank India?
Our research into the company revealed that their Shark Tank India deal with Sharks did not close after the show aired. The company’s co-founder Harsh shared on a podcast that Bullspree has been on a bull run since they started, and the post-Shark Tank India response has been overwhelming. He also shared that they have grown 25X since their appearance on Shark Tank, which translates to a total turnover of 25 crores and margins of ₹5 crores as of summer 2023. Harsh shared that they have been honored by Gujarat’s CM in 2023 as well.
As of November 2023, Bullspree is still in business and growing.
Source: Bullspree Instagram
Here are other companies from Season 2 Episode 19.
PMV
Update coming soon!
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