Shark Tank India 4: Vineeta Singh calls IIM Ahmedabad grad’s Rs 240 crore valuation demand ‘Wahiyaat’ - Here's everything we know

Shark Tank India season 4 is now getting heated up and Culture Circle, a startup, has brought all the drama possible.

Shark Tank India 4 Update

Shark Tank India Season 4 has finally begun, and the world is now busy obsessing over the pictures and memes about to emerge from the show. There is so much buzz around it that fans are eagerly awaiting the ultimate drama. While the first few episodes served as a warm-up with nothing dramatic unfolding, it seems we are finally on the verge of experiencing some excitement. A new startup called Culture Circle, run by Devansh Jain and Ackshay Jain was presented to the Sharks in Season 4. The brand promises a unique solution for the apparel industry. Read on to know everything about it.

Culture Circle Shocks The Sharks

The duo explained how their app-based platform will connect users with a premium marketplace to resell luxury shoes, bags, jackets, and other accessories. They claimed their business has 2.5 lakh active users and offers globally verified authentic products. While this caught the attention of the Sharks, what happened next created drama. The Culture Circle owners requested an investment of ₹1.2 crore for 0.5% equity, valuing the company at ₹240 crore.

That number immediately sparked wild reactions from the judges, who were caught off guard. Aman Gupta questioned the valuation, asking, "Are we crazy?" Vineeta Singh, unconvinced by the pitch, labeled the valuation "waahiyaat." She was also shocked that IIM-educated entrepreneurs were using Shark Tank India as a platform to promote their content. Considering all odds, Vineeta proposed a valuation of ₹80 crore, but the duo was unwilling to lower their expectations, leading her to opt out.

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The other judges—Kunal Bahl, Namita Thapar, Ritesh Agarwal, and Aman Gupta—then entered a bidding war. Kunal offered ₹8 crore for 10% equity, while Ritesh Agarwal proposed ₹1.2 crore for 1.33% equity. Namita Thapar countered with ₹1.2 crore for 1.2% equity and a 0.5% royalty. The Culture Circle duo countered with a ₹120 crore valuation, offering 2% equity for ₹2.4 crore. After negotiation, the deal was finalized with Kunal Bahl investing ₹2 crore for 2% equity and Ritesh Agarwal investing ₹1 crore for 1% equity, ultimately valuing Culture Circle at ₹100 crore.

About Culture Circle

According to The Economic Times “Culture Circle, founded by Devansh Jain and Ackshay Jain, claims to be the ultimate destination for luxury sneakers, streetwear, and fashion. Born out of frustration with the lack of authentic platforms offering rare sneakers, the duo created Culture Circle to bridge the gap. The app quickly rose to become India's top platform for hype and luxury fashion.”

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