On the Tank
Skippi was founded by Ravi Kabra and Anuja Kabra in January 2021.
Skippi Ice Pops is a bootstrapped company with an overall investment of ₹55 lakhs in the business till January 2022.
They plan to expand this brand globally. As this has huge potential there.
Moreover, Anuja stated that the Indian cricket team should carry “Skippi” on their t-shirts. As youngsters are their target audience, and of course, patriotism.
Why started the business?
Ravi stated that for the past 16 years, I have been in the food and beverage industry.
While sitting with family and looking at old photos, they came up with the idea of creating something that evokes nostalgia.
Moreover, our initial customers are individuals aged 25 and above who initially test the product before introducing it to their families, leading to subsequent repeat orders.
Skippi ice pops contain only natural colors, flavors, preservatives, and sweeteners.
India faces significant challenges in its supply chain for frozen products. As a result, we removed refrigeration from the entire process.
They make ice pops in liquid form at room temperature and supply them in the same form.
Customers buy this, freeze it, and then enjoy it.
Shark Tank Recap
- Skippi is selling Icepops.
- They plan to expand skippi globally. As this has huge potential there.
- ₹45 lakhs in exchange for 5% equity, making the valuation stand at ₹9 crores.
- The brand name, packaging, and pricing are exceptional and meet expectations.
- At last, Together, all five sharks would come for ₹1 crore in exchange for 15% equity (valuation 6.67 crores).
Shark Tank Live
Ask
₹45 lakhs in exchange for 5% equity, making the valuation stand at ₹9 crores. Along with your experience in the Indian market.
Demo Review
- Namita: Nice packaging
- Anupam: Childhood memories came back.
- Ashneer: Nice flavors.
Business Model & sales of skippi
With six different flavors, they have generated ₹40 lakhs in revenue in the last six months.
Selling each pack at just ₹20, they have generated a revenue of ₹ 60 lakhs in the last 6 months and ₹7.5 in the last month.
Unit Economics
Ravi stated that out of ₹20, ₹5 is our making cost, ₹7 is our distributor margin, and the remaining ₹8 is our gross margin.
Offers for skippi
- Anupam: As demanded by you, ₹45 lakhs for 5% equity (valuation: 9 crores).
- Ashneer and Namita: Together would come for ₹60 lakhs for 5% equity (valuation: 12 crores).
- Aman, Vineeta, and Anupam would come together for ₹60 lakhs in exchange for 6% equity (valuation -10 crores).
- All five sharks would come for ₹1 crore in exchange for 15% equity (valuation: 6.67 crore).
Counter offer
All five sharks together for ₹1 crore for 10% equity (valuation-10 crores).
Deal
Together, all five sharks would come for ₹1 crore in exchange for 15% equity (valuation 6.67 crores).
Skippi Beyond Tank tank updates
Beyond Tank constantly provide updates and follow-ups about the entrepreneurs from the day they appeared on Shark Tank India.