- Founder: Raghav and Shraddha Himatsingka
- Business: Child Development App
- Ask: ₹1 Cr. for 2% equity
- Valuation/Net Worth: ₹50 Cr.
- Result: ₹ 1 Crore for 4% Equity
- Sharks: Aman Gupta and Ashneer Grover
- Episode: Season 1 Episode 7
Rising Superstar Shark Tank Pitch:
Raising Superstar has launched the Prodigy App for child development in the 0-6 age range. The Prodigy app offers videos for parents to assist them with daily tasks involving their children, typically lasting around 5 minutes, with the primary emphasis on ensuring no screen time for the children. In its first year, approximately 50,000 parents have enrolled in the Prodigy App.
The founder claimed that they have INR 1.1 Cr. in monthly revenue. Over the last 11 months, they have accumulated INR 13 Cr. in cash in the bank. They offer pricing plans of INR 500 for a week, INR 7000 for 3 months, INR 25000 for 6 months, and INR 39000 for 1 year. While the majority of their customers opt for the 3-month plan and they also maintain an 80% gross margin, with 20% of their revenue allocated to cover material, packaging, and shipment costs. Raghave also revealed that Rising Superstar is completely bootstrapped.
Who are the Founders of Raising Superstar?
Raising Superstar company was founded by Raghav and Shraddha Himatsingka. Raghav is a Stanford Graduate and this is his second go at entrepreneurship. He is also a father of 3 year old. His old venture was Truckola Technologies which was a tech-enabled transport company in business from 2015-2020 and was forced to shut down due to Covid.
Raising Superstar Shark Tank Negotiations:
Anupam expressed concerns that the customer acquisition cost is not well-defined, and he anticipates the need to raise prices in the future. He believes that this might lead to a decrease in the user base, so he decided to opt-out. Namita, on the other hand, couldn’t relate to this concern, as her beliefs differ. Following that, Vineeta also goes out citing she is not passionate about going in this industry.
Ashneer made an initial offer of INR 1 Cr. for a 5% equity stake, while Aman offered them INR 1 Cr. for a 4% equity stake. After that, Ashneer suggested that he could join Aman in his deal and they would come together for 4%. The company accepts that offer without any hesitation!
What Happen to Raising Superstar and Prodigy after Shark Tank:
Our research in the company revealed that the deal with Sharks never came to fruition. we also found that prodigy app is available in 158+ Countries and get participation for 500,000+ Parents. Furthermore, Raghav revealed on a special broadcast with NewsX that their shark tank experience was phenomenal and has helped them get feedback and insights on their business. He also shared that the show has given them visibility and popularity in the press. Raghav shared that what Shark Tank brought in terms of sales wasn’t that huge but it showcased the product on national television and gave their company credibility and Trush. Raghav has over 124 thousand followers on his personal Instagram.
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Source: Raising Superstar Instagram
Here is how other companies from Season 1 Episode 3 are doing.
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