It’s hard to make a comeback when you hit rock bottom. Starting a business and re-starting a business are two sides of the same coin. Many businessmen incur huge losses that to going bankrupt is the biggest loss anyone can face but stand back is a brave choice. Such a story is about these three entrepreneurs who came to shark tank for their business idea in the OTT stream.
Shashank Vaishnav and Parveen Singhal and Vinay Kumar Singhal came on Shark Tank India for their OTT app Stage which promotes web series and movies in regional languages. They pitched for 3 crores for 1% equity. These co-founders pitch that people from different regionals and localities fear that the way they speak will be the center of everybody’s joke. That’s the reason they introduced such a platform for all the regional dialects to enjoy the desi feel of web series and OTT without being afraid of making a fool out of themselves.
The sharks asked them why there is this need for another ott platform when Prime Video, Netflix, Sonyliv, etc are already dominating the market. To this, they replied that people feel ashamed in public as they don’t know English or Hindi properly and in night clubs and parties fear that people call them unfit to be in an elite place like those. So introducing Stage they will feel free to talk in whatever comfort they feel.
The co-founders shared a back story that they were already a popular website before Stage but one day everything went off hands. They were on the verge to close the company but the employees had faith that they might strike back on the field and they did. The stage now is a 300-crore business. Aman, Namita, and Peyush pitched them to come on board with 18% debt and 1.5 crores each for 0.5% equity and they lock the deal.
Starting as WittyFeed to Stage was a massive transformation to reach their goal.