🦈 Sharks Present:
Vineeta Singh | Ritesh Agarwal | Azhar Iqbal | Aman Gupta | Kunal Bahl

---

🚀 Company Snapshot: Imagi Make

Founders: Ravi Kumar (Young Male) & Disha Katharani (Young Female)
Industry: Educational Toys & Games
Founded: 2014
Patents: Held in USA & India
Price Range: ₹199 - ₹2,000

🌍 Market Reach:

• Monthly Sales: 1,00,000+ units
• Distribution:
  • 4,000+ Offline Stores
  • Amazon, Flipkart, FirstCry & Global Platforms
• Export Contribution: 35% of Sales

---

💼 Business Breakdown

🔧 Team Structure:

Department	Employees
Manufacturing	250
Operations	20
Product Design/Marketing/Finance	40
Sales	40

📊 Equity Holdings:

• Founders: 65%
• Investors: 35%

---

📈 Financial Performance

💰 Sales Channel Split:

Channel	Share
E-Commerce (Export)	35%
E-Commerce (Domestic)	35%
General/Modern Trade	18%
Quick Commerce & Others	12%

📉 Annual Financials (in ₹ Crore):

Fiscal Year	Revenue	EBITDA
2020-21	13	+0.15
2021-22	29	-0.35
2022-23	40	-0.90
2023-24	56	-0.30
2023-24 (Oct)	42.5	+1.20
2023-24 (Proj)	87-90	+2.40

Current Liquidity:

• Cash Reserves: ₹8 Cr
• Receivables: ₹5.5 Cr

---

🎯 Growth Strategy

🌎 US Market Focus:

• Price Premium: 2.5X Indian Prices
• Market Size: 10X Indian Market Potential
• Current Challenges: Inventory Management & Distribution

---

🦈 Sharks' Reactions

❌ Declined Offers:

Shark	Reason
Aman Gupta	'Company already scaled enough'
Kunal Bahl	Out of deal
Azhar Iqbal	'Can't add value at this stage'

💸 Active Offers:

1. Vineeta Singh

   • ₹50 Lakh for 0.5% Equity
   • ₹1 Cr Debt @10% Interest (3 Years)

2. Ritesh Agarwal

   • ₹1.5 Cr for 1.2% Equity
   • Implied Valuation: ₹125 Cr

❗ Founders' Decision:

Declined all offers, maintaining ₹300 Cr valuation ask.

---

🔍 Key Takeaways

1. Valuation Gap: Sharks offered 58% lower valuation than ask
2. EBITDA Mystery: Recent profitability spike needs validation
3. Export Paradox: 35% sales from global markets with negative margins
4. Inventory Risk: High receivables (₹5.5 Cr) vs cash (₹8 Cr)

Will Imagi Make's US expansion justify its bold valuation? Only time will tell! 🧩🚀