KL Rahul’s cousin recently took to the Shark Tank Season 2 stage with his ‘bowling alley’ pitch, only to be slammed by judge Anupam Mittal. While KL Rahul continues to be trolled online for his lackluster and inconsistent performance in the team, his cousin also didn’t float too well with the sharks in the pool. The development comes as Shark Tank’s second season continues to garner nation-wide attention, with many fans still irate over Ashneer Grover’s absence.
Recently, Prateek Palanethra and Vishwanath, took to the Shark Tank stage, and introduced their idea, “Free Bowler”, seeking Rs 75 lakhs for an equity of 7.5%. With an equity stake that’s rather on a higher side compared to other winners, one would assume that the duo was able to impress the sharks.
However, the duo failed to get the deal they wanted, with Anupam Mittal being the most critical amongst other panelists. Anupam Mittal explained the duo that there is no market value for their idea. He also remained surprised that the pitchers had no idea about the market despite being in the business for over five years.
Eventually, it was Namita Thapar who closed the deal with Rs 25 lakhs for 7.5% equity and Rs 50 lakhs debt at 10% interest.
The Facts of the Matter
It’s that time of the year again when the nation sits in front of their televisions and laptops to enjoy a new season of Shark Tank. While the series is garnering attention, thanks to the judges giving some fascinating replies to pitchers, recently, it was a pitcher that caught the nation’s attention.
Recently, KL Rahul’s cousin took to the Shark Tank season 2. Prateek Palanethra, who recently took to the stage with his business partner to seek investment for his ‘bowling alley’ idea, told that he is actually the cousin of well-known cricketer KL Rahul.
Also Read: Heated Shark Tank 2: Namita Thapar Walks Out Amid Clashes with Anupam Mittal
KL Rahul’s Cousin Presents ‘Free Bowler’
Prateek and his partner Vishwanath took to the stage to present their venture called ‘Free Bowler’ seeking 75 lakhs for 7.5% equity. During the presentation, the duo told sharks that another Indian cricketer, Ravichandran Ashwin, is actually the brand ambassador for the company.
During the presentation, the Sharks asked the duo about their backgrounds. The duo revealed that they were Under-16 cricket players and trained umpires. Thanks to KL Rahul’s legacy, Prateek added that he has some knowledge regarding cricket.
Also Read: Anupam Mittal Takes Dig At Ashneer Grover, Says “Anyone who humiliates others on show..”
Presenting Demo and a Red Flag to Sharks
The duo then proceeded to give the sharks a demo of their idea, explained the prices of the services. Prateek and Vishwanath said one thing that put all the sharks at unease. The duo explained that they were losing money, which prompted majority of the judges to decline investing in their idea.
Things got heightened at the stage, as Anupam Mittal started criticizing the duo and their idea.
Anupam Mittal Slams Idea
“There is no market demand for this product. I am surprised because you don’t know about the market and you have been working in the market for 5 years and you guys are making losses and there is no market demand for this product because every team has their own bowling machine,” Mittal was quoted saying.
Namita Thapar Seals the Deal
Eventually, it was Namita Thapar, who extended an olive branch. Namita offered the owners of Free Bowler Rs 25 lakhs for 15% of equity and a Rs 50 lakh loan at 5% rate. The duo tried to counter the offer but Namita remained undeterred and said, “I am giving you an offer and you are giving me a counter, even though other sharks are not showing any interest in this company, I am showing.”
In the end, Prateek and Vishwanath accepted the deal and shook hands with a deal of Rs 25 lakhs for 7.5% equity and Rs 50 lakhs loan at 10%.
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