The Indian reality business show, Shark Tank India Season 2, has become the talk of the internet ever since the show has premiered, know about the founder and valuation of FreeBowler
This year’s installment of the business reality series is showcasing us much more capable and experienced entrepreneurs as well as those who although have started their startup quite some time ago but aren’t able to secure it well.
Earlier we saw a number of the founders who came to present their business idea in front of the sharks and have made huge headlines, for instance, the founder of Flatheads, who wasn’t able to secure his company well.
FreeBowler Shark Tank India company founder, valuation, bowling machine price, deal, net worth
Now a similar case has come in front of the Sharks once again.
For those who are unversed, let us tell you, in an earlier episode of the show, Prateek Palanethra along with his friend Vishwanath came into the show to introduce their bowling brand.
The Co-founders of the brand described their company as “Free Bowler.” In their pitch the two stated that they are the only company in India selling bowling alley equipment at such a low price.
The brand’s founders asked for Rs. 75 Lakhs for the 7.5% equity, however, none of the Shark liked the idea to join hands with their bowling company. The price of an initial level bowling machine is at Rs.40,000.
Meanwhile, to impress the Sharks, founders revealed that an Indian bowler, Ravichandran Ashwin is their brand ambassador, which seemed to be pleased with the Sharks.
Meanwhile, co-founder Prateek also revealed a fact that he is related to KL Rahul, an Indian batsman.
The founder of the bowling company stated that he is the cousin of K.L Rahul, famous Indian cricketer.
Furthermore, two even went on to give a demo of their goods to Sharks as they explained the pricing details. However, they also revealed that they are losing a lot of money, which made the sharks lose their interest in their brands and soon enough all started refusing to invest in the company.
Shark, Anupam Mittal stated that there isn’t any market need for this product while he expressed that he had a feeling that they did not know the market despite the fact they were running the business for at least 5 years or more.
However, in the end, Peyush Bansal retorted and agreed with the brand. The two also agreed to the Shark’s words as they accepted the deal of Rs. 25 Lakhs for 7.5% equity and Rs. 50 Lakhs for the debt at a 10% interest.
However, after witnessing all this, Anupam Mittal raised a question to them as to how they are planning to come out of this debt, especially when they don’t have anything in their pockets.
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