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How is Primebook Doing After Shark Tank?

Posted on September 29, 2023April 18, 2024 by Khush
  • Founders: Chitranshu Mahant and Aman Verma
  • Business: Laptops
  • Ask: ₹ 75 Lakhs for 1.5% Equity
  • Valuation: ₹50 Crore
  • Funding: ₹75 Lakhs for 3% Equity
  • Sharks: Aman Gupta and Peyush Bansal
  • Episode: Season 2 Episode 11

Primebook Shark Tank Pitch:

Primebook, a startup founded by engineers and IITians Chitranshu Mahant and Aman Verma in 2021. Their product, the Primebook 4G, is a made-in-India Android laptop designed specifically for students. The founders aimed to provide high-quality laptops for learning to millions of Indian children at a price point comparable to smartphones or tablets. They requested an investment of Rs 75 lakh in exchange for a 1.5% equity stake, valuing their company at Rs 25 crore.

Primebook Shark Tank Negotiations:

While the sharks were intrigued by the founders’ confidence the product quality. they also raised concerns about the startup’s valuation, scalability, differentiation, and market size. Two of the sharks, Peyush Bansal and Aman Gupta, made an offer to invest Rs 75 lakh in exchange for 3% equity. However, they offered Rs 25 lakh as immediate capital injection and the remaining Rs 50 lakh as a loan with 0% interest. The founders accepted this offer, expressing their enthusiasm for having two mentors on board and their confidence in growing their business with their guidance.

What happened to Primebook after Shark tank India:

Our research indicates that Primebook successfully closed the deal with the sharks, and the company is currently experiencing substantial growth. Their products are readily accessible through their official website as well as on the prominent e-commerce platform, Flipkart. Additionally, Primebook maintains an active online presence through informative blogs on its website, offering comprehensive product reviews and comparisons with other similar offerings. As of September 2023, their Instagram account boasts an impressive following of over 13,000 followers, and they consistently provide updates and engaging content to their audience.

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Image source: Primebook Instagram

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