Anupam Mittal, most known for running the popular Shaadi.com Indian matrimonial website is known among the public eye for his stint as a Shark Tank India judge. The show, currently ongoing though, had the Founder and CEO of People Group speaking in a recent episode about how 60-70 companies that he had invested in had shut down without giving back any positive returns.
In the 14th episode of the show, he said that “My investments in these companies have gone in total loss.”
Anupam Mittal’s Loss
The purpose of Anupam Mittal talking about this though was to say that such risks are always there when investing.
Over the years, Mittal has been known to invest in several Indian startups like Ola Cabs, BigBasket, drone startup Druva and more. Both Ola and BigBasket are among some of the biggest names in their industries currently, and around 240 companies have gotten investments by Mittal.
The Shark Tank India judge added that “If you expect to get returns from every company you put your money in, that’s not possible” stressing that one should not expect profits from every investment and that not every company will give back returns.
He also mentioned that it is only through this experience that he’s learnt about investing and become smarter about how to do so, with him further adding that amongst the losses there were also some profits as around 15-20 of his invested companies did eventually manage to help him recover his losses and gave greater returns.
He said, “This is called the portfolio approach of investing and you cannot obsess about individual losses.”
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Even industrialist Harsh Goenka had tweeted about this a few days ago writing that “I enjoy #SharkTankIndia as a program and I think it is a great platform for our budding entrepreneurs. But whenever I think of sharks, I think of the movie ‘Jaws’ and bleeding.”
He then posted a list of Shark Tank India judges with their companies and the FY (financial year) 22 profits after tax, which showed how only boAt’s Aman Gupta saw any profit with all the rest seeing major losses. Mittal’s record as per the image seemed to be from FY20 with no disclosure being done after that.
To this Mittal responded by saying that “I know you meant it in jest so with all due respect sir, I think u reacted to what appears to be superficial, biased & incomplete data. Happy to learn from stalwarts, but just to clarify, like u, the sharks (shark emoji) don’t bleed red, we bleed blue 🇮🇳 & that’s why we do what we do.”
This only further had other uses asking for what then the accurate data is and what the real numbers are.
Image Credits: Google Images
Feature Image designed by Saudamini Seth
Sources: Business Today, The Indian Express, India Times
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