On the Tank
Before, starting Tagz in 2019, Anish Basu worked as a sales manager at Coca-Cola for almost 3 years, as an area sales manager, and as a regional sales manager at Nokia. Later in 2013, he started Shotang (now closed), a platform to connect retailers, distributors, and manufacturers.
Similarly, Sagar Bhalotia worked as a product manager for Quickr and General manager in OYO
They are the only Indians to have popped chips set up. These popped chips are available in 6 flavors, with a gourmet dip in 4 international flavors. Listed on over 30 platforms, like its own website, Amazon, Big Basket, and presence of over 2000 retail stores.
Tagz Shark Tank Recap
- Tagz has a USP of popped chips and its setup came up with a proper brand positioning on the tank. To disrupt the chips, dips, chocolate, and cookies market with different products in the future.
- Ask- ₹70 lakhs for 1% of equity in the company, making the valuation stand at 70 crores. To be used to expand their distribution bandwidth and access to Shark’s network and expertise.
- Deal- Ashneer would come alone for 70 lakhs for 3.5% equity (valuation 20 crores).
Shark Tank Live
Ask
₹70 lakhs for 1% of equity in the company, making the valuation stand at 70 crores. To be used to expand their distribution bandwidth and access to Shark’s network and expertise.
Tagz previous investment rounds
They have done 2 prior rounds of seed funding of ₹2 crores pre-money and ₹4 crores at a valuation of ₹20 crores.
Business Model
Tagz has a significant presence on both online and offline channels; through listing over 30 platforms and the presence of over 2000 retail stores, they have generated a total of rupees 8.5 crores in revenue in the last 2 years.
However, 66% of their sales are coming from online channels.
Sales and Revenue of Tagz
The popped chips are available in 6 different flavors, with gourmet dip available in 4 international flavors. Listed on over 30 platforms, like its own website, Amazon, Big Basket, and presence of over 2000 retail stores. They have generated a total revenue of ₹8.5 crores in the last 2 years. In addition, 40% of their sales are coming from their website, which is a good sign.
However, 66% of their sales are coming from online channels.
Also, their average gross profit is 48%
Feedbacks from the sharks
- Anupam: I love your product, but how can you scale this to a 100 crore business? Also, the valuation you asked for is very high.
- Vineeta: Doing D2C in this segment would be a loss-making game. So, focus on B2B and take the shopkeeper network to 2 lakhs.
- Ashneer: You must focus more on offline distribution channels.
Offer for Tagz
- Namita and Aman would come together (35 lakhs each) at ₹ 70 lakhs for 3% equity (valuation: 23.3 crores),
- Ashneer- Alone for ₹70 lakhs for 2.75% equity (valuation: 25.45 crores),
Counter offer
70 lakhs for 2.5% equity (valuation 28 crore).
Deal
Ashneer would come alone for 70 lakhs for 3.5% equity (valuation 20 crores).
Tagz Beyond Tank tank updates
Beyond Tank constantly provide updates and follow-ups about the entrepreneurs from the day they appeared on Shark Tank India.