In a remarkable turn of events, Shark Tank India judge Aman Gupta has made a jaw-dropping profit of Rs 5.8 crore with a mere Rs 20 lakh investment in the ice popsicle brand Skippi. The investment, made during the first edition of the reality TV show in December 2021, saw Gupta and four other sharks collectively investing Rs 1 crore for a 15% stake in the startup.
During a conversation with Sanjeev Bikhchandani of Info Edge at the ET Now Global Business Summit 2024, Gupta highlighted the risky yet rewarding nature of startup investments. He mentioned that the Rs 20 lakh investment in Skippi is yielding a remarkable return, surpassing the combined returns from his other investments.
Skippi, the beneficiary of both financial backing and support from the sharks, experienced a significant boost in publicity. As a result, the company’s sales skyrocketed by 100 times, and it is now aiming for a revenue of Rs 100 crore in the fiscal year 2025.
Expected to conclude FY24 with a revenue of Rs 70 crore, Skippi remains profitable, according to previous reports.
Gupta, who is also the founder of the consumer electronics brand Boat, reflected on his journey, recalling a time when he had no funds for investment and relied on his wife’s earnings. The self-made entrepreneur emphasized that he learned the art of investments through experiences on Shark Tank, sitting alongside seasoned investors like Namita Thapar and Anupam Mittal. Gupta expressed gratitude for the valuable insights gained on the show, stating that he no longer invests outside of Shark Tank.
Boat, the D2C audio and wearables brand, achieved sales of Rs 4,000 crore in FY23. Although the company had initially filed for a Rs 2,000-crore IPO, it later withdrew the draft prospectus, citing a lack of urgency. Gupta shared at the summit that Boat is not in a rush to go public and is considering the FY25-FY26 timeframe for the IPO.
In a nostalgic moment, Gupta mentioned the early days when Fireside Ventures Founder Kanwaljit Singh invested Rs 6 crore in Boat. Gupta proudly revealed that the investment has since yielded substantial returns, with Singh still holding a 3% stake in the company.
