Roni Mondal and Rohan Roy, the founders of Matri, made headlines with their bold decision on a recent episode of Shark Tank India Season 3. Despite receiving a generous offer from OYO Rooms CEO Ritesh Agarwal, the founders opted for a different path, sparking discussions about entrepreneurship and valuation negotiations in the startup realm.
During the episode, Anupam Mittal initiated the negotiations with an offer of Rs 60 lakh for 10 per cent equity in Matri, valuing the company at Rs 6 crore. Mittal adjusted his proposal to Rs 60 lakh for 4 per cent equity after Namita Thapar and Vineeta Singh made competitive offers. Aman Gupta and Namita then matched Mittal’s revised offer.
In a surprising turn of events, Ritesh Agarwal proposed a unique deal, offering 4 per cent equity along with a Rs 1 crore investment. Despite the enticing offer, Mondal and Roy chose to join Aman Gupta’s deal, overlooking Agarwal’s proposition altogether.
After the episode went viral, Ritesh Agarwal gracefully accepted the founders’ decision, emphasizing his commitment to supporting entrepreneurs and their journey towards success.
The founders’ decision underscores the intricate dynamics of startup valuation and the significance of strategic partnerships in the entrepreneurial landscape. By opting for alignment with Aman Gupta’s offer, Mondal and Roy demonstrated their confidence in their vision and strategic acumen.
The incident serves as a reminder of the unpredictable nature of entrepreneurship and the importance of thoughtful decision-making in navigating investment opportunities. As Matri continues its journey, Mondal and Roy’s bold decision on Shark Tank India Season 3 stands as a testament to their resilience and determination in pursuing their entrepreneurial dreams.
