In a recent episode of Shark Tank India Season 3, the entrepreneurial duo behind Intervue, a startup that is revolutionizing the technical hiring process, sought an investment of Rs 1.5 crore for a 1% stake in their company, valuing it at Rs 150 crore.
Their innovative platform, which reduces the hiring cycle from 30 days to a mere 5 days with a recommendation-to-hire ratio of up to 90%, captured the attention of all five sharks.
Namita Thapar was the first to bow out, citing philosophical differences with the business model. The episode took an interesting turn when Deepinder Goyal, co-founder of Zomato and a new shark on the show, discovered that his company was already utilizing Intervue's services.
Goyal, impressed by the platform's potential for global expansion, made an offer of Rs 3.5 crore. Alongside him, Aman Gupta presented a joint counteroffer of Rs 5 crore for 10% equity, a valuation significantly lower than what the founders had proposed.
Despite the attractive counteroffer, the founders stood firm on their valuation, leading to the rejection of the Rs 5 crore bid.
Aman Gupta re-entered the negotiation and eventually struck a deal at Rs 1.5 crore for 2% equity, valuing Intervue at Rs 75 crore.
Intervue, established by Rahul Arora and Pushpinder Singh Rautela in 2019, aims to streamline the technical hiring process. The startup employs a panel of expert engineers to conduct interviews and reduces the average position fulfilment time from 45 days to just 7 days.
The founders claim that the platform has served over 100 businesses and is conducting more than 500 interviews daily. Talking about the company's financial growth, The founders shared that their platform witnessed an 888% increase in revenue in the fiscal year 22-23, reaching Rs 8.7 crore.
Needless to say, Goyal's participation has been eagerly anticipated, especially given his reputation as a "soft Ashneer," contrasting with Ashneer Grover's more direct approach in the show's first season.
Anupam Mittal praised the entrepreneur as a "solid salesperson," while Aman Gupta, known for his love of movie references, dubbed him 'Rocket Singh' and commended his sales skills.
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