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With unicorns such as Byju’s in a soup and firms backed by an investor like Sequoia caught overstating revenues, reality show Shark Tank India kept the startup success story palatable for Indians. But recent allegations by founders claiming that they didn’t get the funding promised on the show in time, has blemished the rosy picture painted on TV.
After former Shak Tank judge Ashneer Grover used the controversy to take a jibe at his peers on the show, Shaadi.com founder Anupam Mittal mocked his critics with a picture titled “Bark Tank”.
Likens critics to canines
Mittal posted the image showing a shark surrounded by barking dogs on LinkedIn, and wrote that the accusations were part of an ill-intentioned narrative.
He also went on to dismiss the complaints as finger-pointing, and took a swipe at Grover by mentioning an irrelevant and angry commentator.
He first pointed out how 60 per cent deals in Shark Tank US actually go through and compared it to two thirds of deals allegedly going through in Season 1 of Shark Tank India.
His first explanation for the delay in funding was that most of the firms on the show are early age startups, and hence it takes up to nine months for completion of a deal based on the company’s readiness.
He also cited companies failing legal diligence, founders changing their mind, or renegotiations for the delays.
Mittal then went on to hail Shark Tank India as a force to democratise the Indian startup space, and told critics to use facts and data instead of anecdotes.
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