- Founder/Owner: Nitin Jain and Divya jain
- Business: Gifts
- Ask: ₹50 Lakhs for 2% Equity
- Valuation/ Networth: ₹25 Crores
- Funding: ₹50 Lakhs for 4% Equity
- Sharks: Ritesh Agarwal & Vineeta Singh
- Episode: Season 3 Episode 46
Indigifts Shark Tank India Pitch:
Indigifts is a gifting brand of new age India. They appeared on Shark Tank India season 3 Episode 46. The company makes gifting items for all occasions like Festivals, Birthdays etc. They started in 2017 and have over 20 Lakhs customers so far. They are available on all leading marketplaces and through indigifts.in. The founders sought an investment of ₹50 Lakhs for 2% equity valuing the business at ₹25 Crores.
Indigifts launched a concept of seed rakhi after research of 2-years. The company shared that more than 300 women from NGOs are working with them to make these. The company also launch new collections 3-4 times a year.
Indigifts’s Revenue & Financials during Shark Tank India:
Indigifts has a lifetime revenue of around ₹45 Crores. They closed last financial year FY23-24 at ₹7.4 Crores. Their EBITDA was at 7.5% and they made net profit of 5%. Its important to note that their pitch was shot in september 2023 and they closed august 2023 with revenue of ₹76 Lakhs. The company is projecting to close FY23-24 with a revenue of ₹10 Crores with 10% EBITDA.
Indigifts has a 14,000 square feet of head office space in Jaipur where they have dedicated space for R&D. They also have analytics team which research on occasions and emotions to find trends. Their categories include ready to buy and curation & customization. The company currently has around 5000 active SKUs.
Indigifts makes majority of their revenue through marketplaces. The founders shared that 60-70% of the total revenue comes through amazon & Flipkart. With 3.5 Lakh reviews and on average 4.5/5 rating, they do pretty well on both mainstream platforms. The company is completely bootstapped at the time of pitch.
Indigifts Shark Tank India Negotiations & Funding:
Peyush was the first shark to go out but he suggested founders to build a team and see him after. Vineeta gives the first offer of ₹25 Lakh for 2% equity and rest as debt for 3 years at 12% interest. Aman goes out citing Vineeta’s offer is better than what he was gonna offer. Ritesh asked if he could join Vineeta to which they offered ₹50 lakhs for 4%, each taking 2% in equity. Anupam goes out citing that the company should not take investment.
The founders tried to counter the sharks which they refused without even listening to offer. The founders accepted their initial offer of ₹50 Lakhs for 4% valuing the business at ₹12.5 Crores from Ritesh and Vineeta.
Who are the founders of Indigifts?
Nitin Jain and Divya jain founded Indigifts. They are from Jaipur, Rajasthan. Nitin has a background in animation and multimedia.
How is Indigifts doing after Shark Tank India?
Our research in the Indigifts revealed that while they did get a deal on Shark Tank India, weather their deal has closed is not yet clear. Early signs however suggest that the deal may have already fell through but they could still be in the due diligence phase. we will update this article with more information once it comes to light and in the meantime, you can check out their products by clicking the Amazon button below!
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Here are other companies from Season 3 Episode 46.