STAGE, one of the enterprises that rose to prominence as a result of the business reality show Shark Tank India, remains a fan favourite. Recently, its creators returned to the Shark Tank India platform to demonstrate how the show aided their growth, allowing them to double their company's valuation in just two years.
During their pitch on Shark Tank India Season 2, Team STAGE accepted an offer from Aman Gupta, Namita Thapar, and Peyush Bansal. The acquisition includes Rs 1.5 crore for 0.6% equity and an extra Rs 1.5 crore as a loan at an 18% interest rate, valuing the company at Rs 250 crore.
In the Beyond The Tank part of a recent Shark Tank India Season 4 episode, STAGE co-founders Vinay Kumar Singhal and Shashank Vaishnav reminisced on their platform's journey, which offers an enormous library of unique stories in plays and films in Haryanvi, Rajasthani, and Bhojpuri. Vinay said it as a moment of closure, recalling how the exhilaration of securing a deal on Shark Tank India Season 2 had kept them awake. Meanwhile, Shashank revealed that his father had arranged for a public screening of their episode at the main area near their home.
The founders also said that STAGE currently has 700-800 hours of programming and that its renewal rate has increased to 70%. Upon hearing this, Aman Gupta expressed his happiness in having invested in the "right place". He also complimented them on the company's valuation of Rs 600 crore. Shashank recognised content and technology as the primary drivers of their success, which resulted in a 60-fold revenue gain. "We are doing Rs 50 lakh per day now and is set to record Rs 15 crore this month in revenue," Vinay told the hosts.
Keep reading this space for more updates on Shark Tank India 4.
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