- Founders: Shivani Mehta and Harnehmat Kaur
- Business: Letters
- Ask: ₹36 Lakhs for 4% equity
- Valuation/ Networth: ₹9 Crores
- Funding: ₹36 Lakhs for 6% Equity (Conditional Offer)
- Sharks: Ritesh Aggarwal
- Episode: Season 3 Episode 13
DaakRoom Shark Tank India Pitch:
Daakroom is a cultural enterprise dedicated to reviving the art of handwritten communication through creative events, partnerships, campaigns, products, and workshops. They have mission to inspired people to write letters. The founder explains that writing can be helpful for communication and self-expression, cognitive and emotional development, analytical and critical thinking, and also as a good way of learning and therapy. They have already inspired 800,000 people to write letters.
DaakRoom Financials/Revenue during Shark Tank India:
THey have 3 revenue model, First is educational programs and workshops for schools, second is Marketing Campaigns and events and third is letter writing Carnivals. Entry fee for letter writing carnival is 100-250 and avarage 6000-7000 people addtend 1 carnival. In FY 22-23, they have 42 lakhs in sales. In FY In FY 23-24(till Oct), they have 90 lakhs in sales from which 41% sales from school program, 55% come from marketing campaign and events and only 4% from carnivals. They are projecting to close this year with 1.46 crores in sales with 15% EBITDA.
Who are founders of DaakRoom?
Shivani is from Allahabad and Harnehmat is from Chandigarh and both are college friends at National Institute of Design, Ahmedabad. Honorable Mentions, Prime Minister has praised the Daakroom for their works.
DaakRoom Shark Tank India Negotiations & Funding:
Aman was the shark who chose to opt out of negotiations because he believes he does not share the same passion for writing as the founders. Radhika also opted out because it is not clear whether this is a business venture or a passion project. Peyush also chose to opt out, but he advised that they should turn it into a big stationary brand. With that money, they can organize carnivals and events. Vineeta shares similar thoughts and proposes a deal of 36 lakhs for 4% equity with a 3% royalty until 72 lakhs is recouped, with a condition to focus on high-quality premium stationery.
Ritesh also offers 36 lakhs for 6% equity, but the founder counters with a 5% offer. Ritesh agrees, but with the condition that if they achieve 1.46 crores with a 15% EBITDA, then 1% equity will be returned to the founders. The founder accepts this offer with a challenge.
How is DaakRoom doing After Shark Tank India?
Our research on DaakRoom revealed that while they got a deal on Shark Tank India, whether that deal was closed still remains unclear. This could be because they are still completing the due diligence, but early signs do suggest that their deal has not gone through yet.
While the financials of this company are not yet public, we will update this article as soon as more information comes to light.
In the meantime, you can check out their products by clicking the Amazon button below!
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Source: Instagram @daakroom
Here are other companies from Season 3 Episode 13: