How is Yes Madam Doing After Shark Tank India? -

Founders/Owners: Aditya Arya, Mayank Arya, Akanksha Vishnoi and Arpit Gupta
Business: App based Home Salon Service
Ask: ₹1.5 Crores for 0.5% Equity
Valuation/ Networth: ₹300 Crores
Funding: ₹1.5 Crores for 2% Equity + 2% royalty until ₹1.5 Crores is recouped
Sharks: Vineeta Singh, Aman Gupta, Ritesh Aggarwal and Peyush Bansal
Episode: Season 3 Episode 19

Yes Madam Shark Tank India Pitch:

Yes Madam is an Indian startup that appeared on Shark Tank India Season 3 Episode 19. They claim to be India’s most trusted and transparent home salon. Yes Madam is a technology-enabled platform for booking beauty and spa services at home. All professionals are trained and verified, and their products and disposables are packaged for single use. Additionally, they offer a unique feature allowing customers to use their own products while booking Yes Madam’s salon services. They have partnered with more than 2500 women professionals who earn around ₹40,000-₹50,000 per month. Notably, waxing is the highest selling service of Yes Madam.

Yes Madam Revenue & Financials during Shark Tank India:

In FY20-21, they achieved ₹12.5 crores in sales. The following year, they nearly doubled their sales to ₹26 crores, and the subsequent financial year, they closed at ₹32 crores. For FY23-24, they are projecting to reach ₹50 crores in sales. In Oct’23, they recorded ₹9.5 crores in Gross Merchandise Value (GMV) with ₹40 lakhs in EBITDA. Generally, they receive a 20% commission, while gold partners contribute 15%. Sixty percent of their sales come from Delhi and NCR, and they are currently available across 45 cities with 7000 monthly bookings. Surprisingly, they have an 80% retention rate by revenue. Over the next 5 years, they aim to achieve an annualized revenue run-rate of ₹500 crores.

Who are founders of Yes Madam?

Yes Madam was founded in 2017 by Aditya Arya, Mayank Arya, Akanksha Vishnoi, and Arpit Gupta. Aditya and Mayank are brothers from Amroha, Uttar Pradesh. Akanksha is from Moradabad, UP, and studied Law in Lucknow. Arpit is also from Amroha and studied at IIT Kharagpur; he has known Aditya since their school days. Aditya, Mayank, and Akanksha each hold a 28% stake in Yes Madam, while Arpit holds a 10% equity stake, and the remaining 6% is held by ESOPs. Aditya serves as the CEO of Yes Madam, with Mayank overseeing strategy and expansion, Akanksha managing innovation and branding, and Arpit handling marketing and operations.

Yes Madam Shark Tank India Negotiations & Funding:

Radhika was the first to opt out of negotiations, believing she would not make money from this investment and unable to make an exit. Aman, Vineeta, Ritesh, and Peyush combined to offer ₹1.5 crores for 3% equity plus 2% royalty until ₹1.5 crores is recouped. The founders countered with an offer of ₹1.5 crores for 1% equity plus 1% royalty until ₹1.5 crores is recouped. Aman declined the offer outright. Peyush explained that recouping money from the business is difficult, echoing Radhika’s concerns.

The founders revised their counteroffer to ₹1.5 crores for 2% equity plus 1% royalty until ₹1.5 crores is recouped. Vineeta presented the final offer of ₹1.5 crores for 2% equity plus 2% royalty until ₹1.5 crores is recouped. The deal was finalized.

Notably, Ritesh is also an investor in a competitor of Yes Madam, Urban Company, which has revenue around ₹300 crores.