Anupam Mittal, the founder of People Group and a prominent shark on Shark Tank India, is known for his straightforward feedback.
This time, his sharp criticism was directed at a social media influencer turned entrepreneur, Vijay Nihalchandani, who pitched his startup, Make My Payment, on the show. Mittal didn’t mince words when he advised the entrepreneur to reconsider his approach, remarking, “Isse acha thela laga lo” (You’d be better off starting a street cart than this).
Vijay Nihalchandani, a finance and business influencer with a substantial following on Instagram, entered the tank seeking ₹30 lakh for 3% equity in his app. The platform aims to provide automated payment reminders to defaulting debtors. However, the pitch quickly unraveled when the founders revealed some key numbers. Out of 3,500 sign-ups, only 200 users were paying subscribers, generating a modest ₹30,000 in monthly revenue.
Mittal, unimpressed by the revenue model, didn’t hold back his critique, emphasizing the gap between the app’s potential and its execution.
The pitch also sparked a debate among the other sharks. Namita Thapar, Executive Director at Emcure Pharmaceuticals, voiced skepticism, questioning the practicality of using automated reminders for debt recovery. She pointed out that defaulters could easily ignore or block such messages, rendering the app ineffective.
Aman Gupta, CEO of boAt Lifestyle, probed into Vijay’s other business interests. The influencer revealed that apart from the app, he runs a hotel bookings business and earns approximately ₹5 lakh per month through Instagram collaborations. While Peyush Bansal, Co-founder of Lenskart, seemed intrigued by Vijay’s social media earnings, the other sharks weren’t equally impressed.
This isn’t the first time Shark Tank India has drawn attention for its sharp critiques of influencers. Just days earlier, YouTuber Gaurav Taneja shared his experience on the show, revealing that he was advised to quit YouTube and focus on a single business venture. Such instances have sparked conversations about the challenges influencers face when attempting to transition into full-time entrepreneurship.
Vijay Nihalchandani’s story adds another layer to this narrative, highlighting the growing scrutiny influencers encounter when their business ventures don’t align with their online success. While his pitch didn’t win over the sharks, it did succeed in drawing attention to the fine line between social media fame and sustainable business growth.
As Shark Tank India continues to showcase the dreams and struggles of budding entrepreneurs, moments like these serve as a reminder of the high standards and harsh realities of the startup world