- Founders: Shreyaan Daga
- Business: Online Live Learning Platform
- Ask: ₹ 30 Lakhs for 2% Equity
- Valuation: ₹15 Crore
- Result: ₹ 30 Lakhs for 5% Equity
- Sharks: Vineeta Singh and Peyush Bansal
- Episode: Season 2 Episode 23
OLL Shark Tank Pitch:
OLL is a startup that offers online learning solutions for students and teachers. In an episode of Shark Tank India, Shreyaan Daga, the co-founder of OLL, presented his pitch to the sharks. The platform aims to provide a personalized learning experience to students and teachers by offering a wide range of courses and features such as live classes, interactive quizzes, and progress tracking. OLL also has a social impact by donating a portion of its revenue to underprivileged children’s education.
OLL focuses on skill development classes for students in Grade 1-Grade 10. These are usually live interactive classes for groups. All courses are certified by STEM and UNESCO. They have helped 35,000 students in 25 months. They offer 6 hero workshops like robotics, coding, financial literacy, etc., presented through schools. The annual subscription fee for the program is ₹2,000. They generated over ₹2.2 Crore in revenue in the last 28 months, with the last month’s revenue being ₹28 Lakh and profits at ₹18 Lakh. They have 300 active teachers.
They had raised funding in 2 rounds prior to appearing on Shark Tank. The first round was raised at ₹2 Lakh MRR at a valuation of ₹3.2 Crores for ₹20 lakh investment. The second round was raised at a ₹9 Crore valuation for ₹90 Lakhs. Their retention rate is at 41% for students.
OLL Shark Tank Negotiations:
Namita expressed concerns about scaling, so she stepped out of the deal. She did, however, offer to be a mentor. Aman mentioned that the company already has investors to guide them, so he couldn’t make an investment due to his lack of expertise in this area. Anupam decided not to invest, citing a lack of understanding of the business. Peyush was impressed by the entrepreneur. Vineeta made an offer of ₹10 Lakhs for 2% equity and ₹20 Lakhs as debt at 12% interest. Peyush matched Vineeta’s offer, but Shreyaan was not willing to accept the debt. Peyush proposed ₹30 Lakhs for 6% with Vineeta coming along. The company countered for 4%, which Peyush rejected. Shreyaan then countered again at 5%, which the Sharks accepted, and the deal closed.
How is OLL dong After Shark Tank India?
As for how OLL is doing after Shark Tank India, research into the company revealed that despite making a deal on the show, the deal never closed after the episode aired. OLL founder Shreyaan shared on his LinkedIn that the Sharks took too long to do their due diligence, and by that time, the company’s valuation had grown significantly. As a result, they rejected the deal offered to them by the Sharks on the show and secured funding at a much higher valuation from other investors. He also posted his appreciation for the efforts of the Shark Tank team and shared his positive experiences on the show.
As of October 2023, OLL is still in business and has expanded globally. In addition to their existing structure, they have added recorded sessions to their roster. A surprising development is that OLL is partnering with CBC-TV18 to launch a platform similar to Shark Tank India, but for young entrepreneurs from Grade 5-12, where they can secure investments of up to 10 Lakhs from investors.
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Image source: OLL Instagram
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