Shark Tank India: Anupam Mittal busts myths about the show: “The cheque is not the final deal…’

Anupam Mittal

Shaadi.com founder and well-known Shark Tank India judge Anupam Mittal has clarified a common misunderstanding regarding the program's investing procedure.

In a special interview with Pinkvilla, Anupam Mittal explained that a check for the show does not mean that the investment is done.

According to Anupam Mittal, the depth of due diligence is limited by the pitch session's time limits, which are normally 15 minutes per entrepreneur. "The real evaluation starts after filming, when extensive checks are made," he said.

"We perform diligence after the shoot. If you have outright lied, then obviously you will fail the test. However, if there is a five to ten percent difference, it is not a huge concern,” he said.

He also compared the cheque that is shown on the television to a venture capital deal's non-binding term sheet. "Even in the real world, forget Shark Tank India; the cheque we give on the tank is equivalent to the term sheet. It is when the VC invests; the deal is done."

“The term sheet consistently states ‘non-binding' term sheet, meaning that I am not bound to you. This is a non-binding cheque as well, which means that if there is diligence and one does not pass, the deal is off the table,” he explained.

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In the past, Anupam Mittal has dispelled a number of misconceptions about Shark Tank India. He explained that the sharks do not receive cheat sheets about the founders, the show is not staged, and also that they invest their own funds.

With more than 20 years of experience in the Indian startup scene, Anupam Mittal is a seasoned investor and entrepreneur. One of the top matrimony websites in India, Shaadi.com, is owned by People Group, of which he is the founder and CEO. In addition to his business endeavors, Mittal has invested in more than 250 startups, including well-known firms like BigBasket and Ola.