Stage and Girgit land a deal with the Sharks!2 weeks ago Rituka M
Over 100 crore people in India speak their regional dialect predominantly, and there are over 19k languages. In a lot of areas where the language is not spoken, people make fun of the accents and the dialect. To give people the comfort and confidence to speak their regional languages, Stage was born. Stage is India’s first regional dialect OTT platform. It has various films and web series in regional languages catered to the local crowd.
Founded by Parveen & Vinay Singhal and Shashank Vaishnav after an inspiration journey, Stage was born in 2019. Stage creates original content with a local focus on a budget. Currently, Stage runs on a subscription model and has given work to over 1000 Haryanvi artists. They have also created over 300 hours of Haryanvi and Rajasthani content. With over 1.3 lakh paid subscribers, they have a retention rate of 94%. Moreover, they have a monthly watch time of 4.5 hours. In FY21-22, they had sales of 3.84cr, and currently have monthly sales of 25Lakhs.
They seek an investment of 3 crores for 1% equity @ a 300cr valuation. Namita, Peyush, and Aman offered them a deal of 1.5 crores for 0.6% equity & 1.5 crores in debt @18% interest, valuing them at 250 crores. With the sharks and their investment, they are sure to ramp up the local scene with their hyper-local content-creating platform.
Girgit win over the sharks with their temperature-sensitive products!
Who doesn’t love clothes that inspire awe in people? With an idea to bring magic into the lives of kids through clothing and accessories, Benoy Shah & Pooja Shah came up with Girgit. These ranges of color-changing products are temperature sensitive and change colors or patterns when it hits sunlight. In the last year, they have sold over 3000 products with 1800 customers. They have lifetime sales of 58L with a 79% gross margin and a 50% growth rate.
They seek an investment of 20 lakhs for 10% @ a 20 crore valuation. Namita offered them a deal of 20 lakhs for 20% @ a 1 crore valuation. Girgit went with this offer and is on a journey to make affordable color-changing products for everyone.