How is iDreamCareer Doing After Shark Tank India?

Founder/Owner: Ayush Bansal & Sq. Leader N Praveen Kr(Retd)
Business: Career Counseling
Ask: ₹1.10 Crores for 1.28% Equity
Valuation/ Networth: ₹85.94 Crores
Funding: ₹60 lakhs for 1% Equity and ₹50 lakhs Debt @8% for 3 years
Sharks: Aman Gupta & Ritesh Agarwal
Episode: Season 3 Episode 39

iDreamCareer Shark Tank India Pitch:

iDreamCareer is a career counseling platform that helps students between class 8th to Class 12th to choose the right career path. The company appeared on Shark Tank India season 3 Episode 39. The founders shared that they create awareness of over 560 career options for their students. They also assist students with college applications, financing, and scholarship opportunities. They have mentored over 10 lakh students so far. The founders sought an investment of ₹1.10 Crores for 1.28% of the company, valuing the business at ₹85.94 Crores.

iDreamCareer has two revenue streams. The first one is D2C, which caters to mid and high-income families, and they sell courses ranging from ₹4,000 to ₹1.8 Lakhs. Secondly, their B2B program ties up with corporate CSR to offer schemes for low-income families in which they provide the same programs free of cost. 60% of their sales came from the B2B segment and the rest from D2C.

iDreamCareer has onboarded directories of over 25,000 colleges across India. Along with this, they also have 1,500 exams listed and 1,600+ scholarships available on their platform as well. The founders shared that they have around 5 lakh students visiting their website per month, and 90% of it is organic traffic. Out of this traffic, they get 18,000 new users through “Free Sign-ups”. Out of that, around 500 students get the entry-level program. They have an entry-level fee for counseling, which is ₹299 for a 30 minutes session.

iDreamCareer’s Revenue & Financials during Shark Tank India:

iDreamCareer has an average revenue per paid user of around ₹14,000. In FY21-22, The company made revenue of ₹2.2 Crores. They closed last financial year at ₹3.7 Crores in revenue. This year (FY23-24) They have done ₹8.4 Crores in Revenue by October 2023, and the company is projecting to close the year at ₹14.5 Crores.

The company has raised a total of 5 rounds of funding so far where they raised a total of ₹13.5 Crores in Funding. Their last round was in 2022 where they raised ₹10 Crores at a ₹36.66 Crore valuation. This year, They burned on average ₹40 Lakhs per month in the first quarter, ₹25 lakhs in the second and ₹10 lakhs in the Third quarter. Notably, The founders have 40% equity left with them as they have diluted 60% to investors.

iDreamCareer Shark Tank India Negotiations & Funding:

Anupam goes out, citing there are other organizations doing the same work but in the right way. Peyush goes out, citing that the founders were a little distracted and need to rethink what they are trying to solve. Vineeta shared the same sentiment and goes out, citing that they have a confusing future ahead.

Aman gives the first offer of ₹15 lakhs for 0.3% of the company and the rest as debt at 10% on a 2-year term valuing the company at ₹50 Crores. Ritesh gives the second offer of ₹60 lakhs for 1% and the rest as debt at 8% for 3 years. Aman asked if he could join Ritesh’s offer, which he accepted. The founders accepted that offer without any hesitation, and they shook hands on ₹60 Crore valuation.

Who is the founder of iDreamCareer?

Ayush Bansal & Sq. Leader N Praveen Kr(Retd) founded iDreamCareer. Ayush is from New Delhi and Praveen is from Bangalore.