Shark Tank India 3: Ed-Tech Brand Irks Co-founders, Over Failure to Explain, Business Strategy and Differentiation
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The latest episode of Shark Tank India season 3 brought forth ‘Competishun,’ an Ed-Tech platform aimed at assisting students preparing for JEE and NEET exams. Co-founders Neeraj Saini, Mohit Kumar Tyagi, and Amit Bijarnia pitched their platform, emphasizing its focus on serious education compared to other Ad-Tech platforms.
However, their pitch faced tough scrutiny from the Sharks, who questioned their strategy and differentiation. With an ask of Rs 2 crore for 1 percent equity, the Sharks were taken aback, raising concerns about their approach compared to other Ad-Tech companies.
Mohit Kumar Tyagi highlighted their 1 million followers on YouTube, but the Sharks pointed out that competitors had significantly higher numbers. Vineeta disagreed with their emphasis on serious education over entertainment, citing the importance of combining education with engaging content.
The Sharks pressed for differentiation, prompting the trio to showcase their success with 2,055 students admitted to IIT in 2023 and an 18-member faculty since their inception in 2020.
However, the Sharks grew irritated with the constant criticism of other Ad-Tech companies. Peyush Bansal expressed annoyance, stating, “Aapne jitne clarity se Physics Wallah ka business samjhaya, apna nahi samjha paaye.” This led Peyush and Azhar to exit the deal.
Aman suggested that their business stemmed from ‘FOMO,’ with teachers earning money, prompting them to follow suit. Anupam echoed concerns about their business model’s differentiation and coherence, ultimately leading to no deal being made.
