Startups Shark Tank India

Shark Tank India | Yarn Bazaar- Will he bag crores from Sharks | Textile Business |

YARN BAZAAR | SHARK TANK INDIA | SHARK TANK YARN BAZAAR

Now you are reading the fifth story on Shark Tank India. This story of Shark Tank India is going to tell you all about Yarn Bazar whose CEO is Pratik Gadiyal from Mumbai. 

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You can have a glimpse at the table of contents.

  1. What is Yarn Bazaar | Shark Tank India
  2. How did it starts and the Business revenue of Yarn Bazaar?
  3. Pratik’s Ask from Sharks | Shark Tank India
  4. QnA | Sharks vs Pratik | Shark Tank India
  5. Funding Session | Yarn Bazaar vs Shark Tank India

What is Yarn Bazaar? | Shark Tank India

FOUNDER OF YARN BAZAAR | SHARK TANK INDIA |

The Yarn Bazaar is an end-to-end and B to B Yarn Market place. Their vision is to make an unorganized textile industry into an organized industry. There have been Many Technological advancements happened in the manufacturing side of the textile industry.

How did it starts and the Business revenue of Yarn Bazaar?

If we look on the other side sales, marketing, etc are happening in the old manner. Yarn Bazaar is working on making this process streamlined. They are trying to build such a platform where they will make buying and selling of yarn easier by providing a one-stop yarn solution

You might be surprised to know about the transactions which have been made as they have started just before covid in July 2019 and till now they have clocked transactions of more than Rs 12000 Crores and all they were advance payment.

Pratik’s Ask from Sharks | Shark Tank India

Pratik asks sharks Rs 50 Lakhs for 2% Equity. The Yarn Bazaar is valued at Rs 25 Crores.

QnA | Sharks vs Pratik | Shark Tank India

FUNDING YARN BAZAAR | SHARK TANK INDIA

How much exposure does this company have in the industry?

Textiles is the family business of the founder. Pratik did his family business After completing his undergrad. Then he decided not to join this industry at any cost.

What is the reason behind starting Yarn Bazaar?

The fabric manufacturing industry is a very cost-sensitive industry. They have to call many suppliers to know what the best price is. If the cost is fine then delivery terms are not matching and sometimes the payment terms do not match.

There is not sufficient transparency at every stage which ends at production loss. This affects the top line and bottom line. The streamline is broken in the game and to fix this problem Pratik started Yarn Bazaar.

How many transactions were made last month?

The order size was Rs 10 Crore and their revenue was 15Lakh. Their commission varies from 0.5% to 1.5%.

Who is the team behind Yarn Bazaar?

Pratik is the CEO and Co-Founder. Vishal dark is the COO he joined in 2020. He has 18 percent equity in the company. Akshat is also a co-founder and he has 5% Equity.

What is the risk factor of Yarn Bazaar | Shark Tank India?

The product quality could lead to rejection and secondly, there could be a risk of trade finance. They are coming from the industry they know that by sharing the debt they make their business secure but they need to build finance.

Can you go one step behind the supplier?

Yarn Bazaar realized that buyer is looking for good quality, price, and timely delivery. They are not particular to a supplier. They are working with small manufacturers.

Funding Session | Yarn Bazaar vs Shark Tank India

FUNDING YARN BAZAAR | SHARK TANK INDIA

Namita Thapar(Director Emcure Pharmaceuticals) exits the pitch as she is not having enough expertise in the same industry.

Aman Gupta(CMO Boat) feels that traders can ditch the app later and secondly he thinks that the app and technical team should be in-house so he outs. After some time he revokes his decision.

All of the four sharks made a combined offer led by Ashneer, Anupam, Aman, and Peyush. They offered him Rs 1 Crore for 10%Equity. Pratik accepted their offer and closed the deal here.

I hope that you guys loved reading this Shark Tank Story and If you want to read more such shark tank stories click here.

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