From Dreams to Determination: The Inspiring Journey of Ayush Singh Chauhan and DACBY at Shark Tank

#In the bustling tech hub of Gurugram, Ayush Singh Chauhan, a young entrepreneur, is redefining the gaming landscape in India with his startup DACBY, a recommerce platform where gamers can buy and sell refurbished gaming gear. What sets his story apart isn't just his innovative idea but the grit and perseverance that fueled his journey from a college dropout to a visionary founder.

The Genesis of DACBY

Founded in 2022, DACBY emerged as a solution for gamers to resell their old gaming gear, ensuring every product undergoes a rigorous quality check before being listed on the platform. With a mission to make gaming more accessible, DACBY caters to a rapidly growing ₹20,000 crore Indian gaming market. While the broader market is dominated by mobile and real-money gaming (80%), Ayush saw an untapped opportunity in PC (15%) and console gaming (5%).

A Bold Decision

Ayush's journey began when he made the difficult decision to drop out of IIT Jodhpur after just one year in 2023 to focus on his business. Despite skepticism, he poured his energy into building DACBY with two college friends. Although his co-founders eventually exited for ₹20 lakhs, Ayush refused to give up. Determined to keep the dream alive, he secured a loan from another friend who believed in his vision.

Scaling Challenges and Achievements

DACBY's growth trajectory has been fueled by relentless effort:

1500 monthly orders, translating to ₹30 lakh in monthly sales.
Strategic partnerships, including a deal with Cashify, to redirect gaming console resale requests to DACBY.
A vision to expand into reselling PC gaming products and launching a D2C brand within three years to offer exclusive gaming gear.

However, the road hasn't been easy. DACBY's monthly burn rate of ₹5 lakh and an EBITDA of -18% reflect the financial hurdles of scaling a business in a niche market.

Financial Snapshot

Total Amount Raised: ₹2.07 crore
Key Funding Milestones:
- September 2022: ₹1.2 crore at a valuation of ₹15 crore.
- June 2023: ₹37 lakh at a valuation of ₹34 crore.
- November 2023: ₹50 lakh convertible funding from Startup India.
Monthly Marketing Spend: ₹5 lakh
Gross Margin: 24%
Operational Costs Breakdown:
- Marketing: -15%
- Salaries: -13%
- Rent and Warehousing: -4%
- IT Expenses: -2%

A Moment of Truth on Shark Tank

Ayush’s pitch on Shark Tank India was met with a mix of emotions and hard truths:

Ask: ₹75 lakh for 2.2% equity.
Anupam Mittal: Highlighted the lack of a console gaming market in India and declined the deal.
Namita Thapar: Praised Ayush’s courage but opted out of the deal.
Peyush Bansal: Encouraged Ayush to persevere, even as he stepped away.
Aman Gupta: Advised Ayush to consider a job, questioning his entrepreneurial decisions.
Ritesh Agarwal: Connected deeply with Ayush’s story, recalling his own struggles in Gurugram. While he declined to invest, he announced a personal grant of ₹10 lakh from his family office to support Ayush.

An Entrepreneur’s Spirit

Despite no investments from the Sharks, Ayush's resilience left a lasting impression. With just ₹15 lakh in the company’s bank account and ₹4,000-5,000 in his personal account, Ayush continues to fight for his dream. His decision to forgo a salary for a year and rely on ₹30,000 monthly pocket money from his father speaks volumes about his dedication.

The Road Ahead

Ayush’s roadmap includes:

Expanding into reselling PC gaming products.
Launching a D2C brand within three years, offering gaming headphones, controllers, and more.

Conclusion

Ayush Singh Chauhan’s journey is a testament to the power of determination and belief in one's vision. While the challenges are steep, his story inspires countless young entrepreneurs to pursue their dreams against all odds. As Ritesh Agarwal aptly put it, “You are a fighter, Ayush.”