Shades of Spring is a flower gifting startup recently featured in Shark Tank India. This article aims at shades of spring founder, shades of spring valuation, shades of spring net worth, shades of spring coupon, and shark tank India.
|Company name||Shade of Spring|
|Founders||Nidhi Gupta and Anuj Bhagat|
|Business Category||Flower Gifting Startup|
|Net Worth||Rs9 Crores|
|Funding Asked||Rs3 Crore for 1% Equity|
|TV Show||Shark Tank India|
Introduction to the Pitch
From ancient times flower gifting has been the popular choice of gifting even its occasion or any festival, marriages, or any other occasion. Flower makes any event special. If you give someone flowers without any answer/question He/She will accept the same.
Flower Gifting Industry of India
The global gifting industry is Rs50 Lakh Crores and flowers are the main and anchor products. Where is that company from which we can buy flowers and which will connect consumers, floral, supply chain, and tech data? From which we can get new flowers in every new season. Shades of Spring is that company
Shades of Spring | Flower Gifting Startup in Shark Tank India
Shades of Spring offers 300+ Varieties of fresh flowers to their consumers. Their flagship product is the DIY Subscription box which was innovated by them in 2019. In which you will get flowers within 48-72Hours of harvest straight from the farm to your doorstep. They stay fresh in your houses for 7 Days.
You will be amazed to know the cost of these flowers as they cost Rs350 Only. Nidhi Gupta and Anuj Bhagat are the founders of Shades of Spring. This startup has been founded in Banglore.
What is their ask from Sharks for investment in Shades of spring?
You will be surprised to know that they have asked Rs3 Crores in exchange of 1% Equity and their company’s valuation is Rs 300 Crores.
QnA | Sharks asking Shades of Spring | Shark Tank India
What is their revenue?
This year (FY21-22) till date they have made revenue of Rs9 Crores,
in FY20-21 they clocked Rs2.5 Crores and in their first year when they were working on WhatsApp their revenue is Rs50 Lakhs
What are their margins?
They are having gross margins of 29% as per sharks is very less.
What is the background of founders?
This couple has met on Shaadi.com.
How are they selling products?
They are getting 50% of their revenue from their subscription boxes. She also gave a demo to Vineeta Singh. 80% Of people buy this for their self-consumption and 20% for gifting.
On subscription, their margin is 20% and on bouquets, their margin is 40%.
1:1 | Sharks investing in Shades of Spring | Shark Tank India
You need to have a basic understanding of business. From the revenue of Rs9 Crore, how can they claim Rs300 Crores valuation? He even said that how can someone be so foolish to ask such a thing. Ashneer respected their business as making 9 crores sale is not easy in India but at General awareness, they have lost,
The problem is that you are giving Fools (Flower in Hindi) and making us fool by giving the valuation of Rs300 Crores. This startup has no valuation because this is a normal business. Aman will be a fool to give them money over a valuation of Rs300 Crores. For this reason, he is out.
Two sharks are out because of this valuation. The growth strategy of the business is very different so He is out from this business.
In 350Rs this is a very unique thing but when consumers are buying these unique things that is a very niche market. The market is very small and In India, subscription businesses is having very lesser chances of getting success. They are making revenue as they are presently selling in Banglore so for this reason she is out.
The valuation of Rs300 Crores is extremely high for this business. She is out.
Don’t forget to read this!
You can read about these Sharks and Creators and How they build their Billion Dollar Brands by clicking down on their respective Names.
- Aman Gupta-CMO and Co-Founder of boAt Headphones
- Ashneer Grover– Founder of BharatPe
- Vineeta Singh– CEO Sugar Cosmetics
- Anupam Mittal– CEO and Founder of Shaadi.com