- Founder/Owner: Vikas Suri
- Business: Popcorn Brand
- Ask: ₹75 Lakhs for 7.5% Equity
- Valuation/ Networth: ₹10 Crores
- Funding: ₹75 lakhs for 15% equity + 3% royalties until ₹75 lakhs is paid back
- Sharks: Namita Thapar
- Episode: Season 3 Episode 45
Popcorn & Co. Shark Tank India Pitch:
Popcorn & Co. sells ready-to-cook and ready-to-eat popcorn. They appeared on Shark Tank India season 3 episode 45. Their products can be purchased from their own website, marketplaces and 6 QSR kiosks. The founder sought an investment of ₹75 Lakhs for 7.5% of the company valuing the business at ₹10 Crores.
Popcorn & Co’s Financials & Revenue during Shark Tank India:
Popcorn & Co. was started in 2019. Their average selling price is from ₹200-₹260. They made a revenue of ₹1.8 Crores in FY22-23 and ₹1.7 Crores a year prior. The company is projecting to close FY23-24 at around ₹2 Crores.
Popcorn & Co. has 6 QSR kiosks, 2 of those are company-owned owned and the rest are franchised. Sales from these can vary from ₹15,000 to ₹35,000. Popcorn & Co. has a gross margin of 65-70%. They are currently EBITDA negative of around 10%. 10% of the total sales are spent on marketing. The company has a repeat rate of around 40-50%.
Popcorn & Co. Shark Tank India Negotiations & Funding:
Namita wanted to give an offer but with conditions. Her conditions were that the company would stop opening QSRs or franchises moving forward and only focus on FMCG business. Secondly, she adds that seasoning would be the primary focus. With that, she offered ₹75 lakhs for 15% equity and 3% royalty on net sales until she makes her ₹75 lakhs back.
Aman goes out citing price point of the product is bit too high to succeed in the Indian market. Anupam goes out citing the founder lacked humility. Vineeta goes out citing she is not able to understand the direction this brand is going into. Peyush goes out citing it’s a bit too early for investment because there is still some experiments which need to be done to see what actually works.
After listening to all the sharks, Vikas Suri accepted Namita’s offer without any negotiations and they shook hands on ₹5 Crore valuation.
Who is the founder of Popcorn & Co.?
Vikas Suri founded Popcorn & Co. He also owns another venture called Kitchenrama which imports and distributes machines, popcorn kernels & spice mixes to other businesses.
How is Popcorn & Co. doing after Shark Tank India?
Our research in the Popcorn & Co. revealed that the deal that they got on Shark Tank India was finalized and Closed after due diligence. The founder Vikas Suri confirmed that on a Shallu Nisha podcast. He also added that the controversial shhhh… he did to Peyush was edited and blown out of proportion. You can check out their products by clicking the Amazon button below!
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Here are other companies from Season 3 Episode 45: