Ganesh Balakrishnan sought an investment of Rs 75 lakh for a 3% stake in his company.
The second season of Shark Tank India is witnessing many entrepreneurs pitching their innovative business ideas to secure big investments. Shark Tank is a reality show where startups seek investments from established businessmen.
In the last episode of the reality show, an entrepreneur's emotional story was praised not just by judges on the show but also won accolades from viewers.
Ganesh Balakrishnan, founder of the shoe brand 'Flatheads', sought an investment of Rs 75 lakh for a 3% stake in his company.
When asked about 'Flathead's "numbers" in terms of sales and profit, Mr Balakrishnan said 'Flatheads' is currently facing a working capital constraint and his runway (the number of months the business can keep operating before it runs out of money) is almost over. He said that the investment from Shark Tank is essential to stop the company from shutting down.
He broke down and said, "In such circumstances, self-doubt is normal."
Mr Balakrishnan's determination to keep 'Flatheads' running made Twitter users appreciate his courage as an entrepreneur to accept on national television that his business is struggling.
"We hear about the underdog disruptor narrative of starting up but there's also a side that we don't talk about - because that's not what we want our idea of entrepreneurship to be," a user Tweeted.
"This #Flatheads guy is so genuine and transparent with his story and failures. Saying that you couldn't make it with the business on national television requires so much of gut," another user said.
"If I don't get the investment today, then I'll look for a job since I don't have money," Mr Balakrishnan said in his response to Shark Peyush Goyal's question that whether he's looking for a job.
Anupam Mittal, the founder of Shaadi.com, said "Shark Tank is not just about investment but also about perspective." He even gave him an open offer for a job and appreciated his survival spirit.
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