Green Entertainment, celebrated for its innovative storytelling, has marked another industry milestone with the introduction of Shark Tank Pakistan. By delving into reality TV, Green Entertainment upholds its tradition of pioneering narratives, aiming to spark entrepreneurial spirit nationwide. This new platform seeks to motivate and support emerging entrepreneurs, offering a space to present ground-breaking ideas and business strategies.
Episode 3 of Shark Tank Pakistan is here, and it’s bringing even more excitement and innovation! After a thrilling premiere and a fantastic second episode packed with game-changing ideas, this episode takes things to the next level. And guess what? Shark Tank Pakistan just broke a world record with the biggest deal in the show’s history! Curious to find out who scored this groundbreaking deal? Keep reading to discover the highlights of Episode 3!
Pitch No. 1
In Episode 3 of Shark Tank Pakistan, co-founders Hira Mubeen and Abdul Rehman took the stage to introduce their startup, Yumkins Foods, with an engaging question for the sharks: if given a chance to revisit their childhood, would they prefer sugary, processed snacks or wholesome, homemade food? As expected, the sharks leaned toward the healthier option, setting the stage for Yumkins’ pitch. The duo revealed that 90% of baby food brands in Pakistan rely on chemical additives, offering parents limited choices when it comes to natural and safe options. That’s where Yumkins comes in—providing a healthier, chemical-free alternative for baby food that is also budget-friendly.
Yumkins Foods, which was officially registered in October 2023, has seen significant growth in a short time. Without any marketing, they managed to sell 1,300 units and generated a profit of 9 lacs within the last six months. Hira and Abdul Rehman, who own equal shares in the company, explained that they’ve invested PKR 10 lacs into the business. They highlighted the product’s composition and their operational roles, showcasing a 32% profit margin per box. Despite their impressive pitch, all the sharks initially opted out, expressing concerns over scalability and market competition.
However, the turning point came when Romanna Dada stepped in with a surprising offer of 90 lacs for 40% equity. After a brief negotiation, Hira and Abdul Rehman countered with a revised offer of 90 lacs for 36% equity, valuing their startup at 2.5 crores. Romanna agreed, making Yumkins Foods the latest startup to secure a deal on Shark Tank Pakistan. The investment marks a significant milestone for Hira and Abdul Rehman, empowering them to expand their mission of providing healthier food choices for children across the country.
Pitch No. 2
Shahtaj Qaiser, the visionary behind the Shahtaj Qaiser luxury fashion brand, made a bold entrance on Shark Tank Pakistan, seeking to expand her high-end fashion business. With a diverse portfolio ranging from wedding wear to bridal couture, she showcased her brand’s impressive growth over the past four years. The business has generated a total profit of 3.6 crores, with steady annual revenue: 80 lacs in the first year, 1.2 crores in the second, 1 crore in the third, and 60 lacs so far in 2024. Shahtaj, a graduate of the prestigious Pakistan Institute of Fashion and Design in Lahore, has positioned her brand as a go-to for luxurious formal and bridal attire, with prices starting at 40,000 PKR for formal wear and 200,000 PKR for bridal collections.
Her pitch sought an investment of 80 lacs in exchange for 15% equity to scale her brand further. Shahtaj emphasized her deep understanding of the fashion industry and her ability to deliver premium quality designs, leveraging her expertise as a textile designer. However, not all the sharks were convinced initially, with Junaid Iqbal and Rabeel Warraich stepping out early in the negotiations. But the pitch took an interesting turn when Usman Bashir offered her 40 lacs for 20% equity, along with an additional 40 lacs line of credit and a 7% royalty on future sales.
Shahtaj, undeterred, countered with a revised offer, proposing 80 lacs for 25% equity in her company. Usman Bashir, recognizing the potential of her brand, came back with a final offer of 50 lacs for 20% equity, coupled with 30 lacs as a line of credit and the same 7% royalty. At this critical juncture, sharks Faisal Aftab and Romanna Dada decided to join forces with Usman Bashir, presenting a united front with a combined offer. Shahtaj accepted the deal, securing a powerful partnership to take her luxury fashion brand to new heights.
Pitch No. 3
Uzair Khan and Hassan Baig, the co-founders of Move It, presented their innovative business on Shark Tank Pakistan, aiming to revolutionize the logistics and relocation industry in the country. Move It operates as a tech-enabled aggregator for moving and shipping services, streamlining the entire process of relocation for both individuals and businesses. The company has rapidly established itself as a market leader in Pakistan, achieving an impressive PKR 60 crore in revenue over just three years. Uzair and Hassan pitched a daring proposal, seeking an investment of 5.5 crores in exchange for 2.5% equity, valuing their company at a staggering 220 crore. They highlighted their proven track record and the scalability of their tech-driven solution, which has made significant inroads in a largely fragmented market.
Since its inception in 2021, Move It has successfully raised 17.5 crores in capital, which has allowed them to expand their operations and refine their technology. The business is co-founded by three individuals, with the co-founders collectively holding 72% of the company’s equity, while the remaining 21% is owned by early-stage investors. The startup has differentiated itself by leveraging technology to simplify and optimize the logistics process, offering customers a seamless experience in managing their moving needs. Despite their impressive financials and growth trajectory, the sharks were hesitant to commit to such a high valuation. Usman Bashir, the first to speak, appreciated their vision but decided to step out, followed by other sharks who expressed concerns over the substantial equity ask for a relatively small stake.
In the end, none of the sharks chose to invest, no deal was made. However, the duo left with positive feedback and encouragement, showcasing that while their valuation may have been ambitious, their business model has strong potential. The exposure on Shark Tank Pakistan is likely to benefit Move It by attracting further interest from investors who see the value in disrupting Pakistan’s logistics industry. Despite not securing a deal, the co-founders remain committed to scaling their tech-powered relocation service, aiming to become the go-to solution for moving and shipping needs across the country.
Pitch No. 4
Mudassir Shafiq and Muhammad Mubeen, representing National Impex, made an appearance on Shark Tank Pakistan to showcase their machinery management business. Specializing in the plastic, packaging, and converting industry, National Impex provides essential machinery like paper slitters, paper cutters, and rewinders, which are crucial for efficient production processes. The company has carved out a niche by manufacturing high-quality industrial equipment, with their very first machine produced in 2015 at a cost of $3,000. Over the years, they’ve built a reputation, with 2023 sales figures ranging between 3.5 to 4 crore, achieving a net profit margin of 30-35%.
During their pitch, Mudassir and Mubeen asked the sharks for a substantial investment of PKR 300 crore (3 billion PKR) in exchange for 3% equity, which placed a hefty valuation on their business at 10 billion PKR. They emphasized their company’s growth and the high demand for their specialized machinery, which serves the packaging and converting industries. The founders highlighted how National Impex has been instrumental in reducing the dependency on imported machinery by providing locally manufactured alternatives, thus supporting the domestic industrial sector. Despite their impressive sales and profit margins, the high valuation appeared to be a sticking point for the sharks.
Junaid Iqbal was the first to step out, citing concerns over the steep equity ask. Following his lead, the other sharks also chose to decline, expressing reservations about the company’s high valuation relative to its current market size. Although they did not secure a deal, Mudassir and Mubeen received appreciation for their efforts in advancing local manufacturing capabilities.
Pitch No. 5
Bilal, Asfaan, and Ismail, the visionary co-founders of Saraaf, made history on Shark Tank Pakistan by securing the biggest deal ever in the show’s history. Saraaf, a pioneering commodity sourcing company, has been transforming the landscape of raw material procurement in Pakistan since its inception in 2012. With operations rooted in Balochistan, the company specializes in sourcing key commodities like onyx and cotton, crucial for various industries. Since the COVID-19 pandemic, they have achieved a remarkable cumulative revenue of over 11 billion PKR, showcasing their growth in a competitive market. This impressive track record set the stage for their ambitious pitch, where they sought 1.5 billion PKR in exchange for 20% equity, reflecting their confidence in scaling the business even further.
As the founders elaborated on their journey and vision, they emphasized Saraaf’s critical role in the commodities market by bridging supply chain gaps and ensuring quality sourcing for their clients. Despite their impressive track record and the significant value they bring to the market, the sharks were initially hesitant to match their high valuation. One by one, they opted out, raising concerns about the substantial equity ask. However, Usman Bashir, known for his keen eye for scalable ventures, decided to stay in the game. He recognized the potential of Saraaf’s established network and market dominance and made a counteroffer that set a new benchmark on the show.
Usman Bashir offered an unprecedented deal of 80 crore for 20% equity, along with a 70 crore line of credit and an additional 3% royalty on future revenues. This offer not only matched Saraaf’s valuation aspirations but also provided the capital injection and credit support needed to fuel their next phase of growth. The co-founders of Saraaf, after thoughtful consideration, agreed to the deal, marking it as the biggest deal in Shark Tank’s history. This historic partnership is set to elevate Saraaf’s operations and expand their footprint in the commodities market, solidifying their status as industry leaders in Pakistan.
About Sharks AKA The Investors
- Rabeel Warraich, a former Morgan Stanley analyst, founded Sarmayacar, Pakistan’s leading venture capital firm, and has invested in notable startups like Abhi, Bykea, and SimPaisa; he holds degrees from Oxford and MIT, and teaches Venture Capital & Finance at IBA in Karachi.
- Aleena Nadeem, an accomplished MIT graduate, began her career at McKinsey and Goldman Sachs before transitioning to Ventura Capital and playing a crucial role in exiting investments in Lyft; now as CEO of EduFi, she drives innovation in educational technology, leveraging her extensive experience in finance and global fintech.
- Junaid Iqbal, CEO of Salt Ventures, is a key investor in the MENAP region with a strong background in financial journalism and notable contributions to Careem’s expansion and Careem Pay development.
- Karim Teli, a distinguished 30-year-old entrepreneur and speaker, is the Managing Director of IGLOO, founder of World Radio FM Network, CEO of Big Shot Technologies & Teli Technologies, and Director of Orient Textile Mills, with degrees from Greenwich University and Boston University, and over 50 ventures to his name.
- Faisal Aftab, a distinguished Pakistani American entrepreneur, has significantly impacted Pakistan’s tech industry as the co-founder and Managing Partner of Zayn VC, with notable roles at Lakson Capital Venture, Oxon Partners LLC, Cloudstream Media, National Financial Media, MTV, and Deloitte, leading investments in startups like Haball and NayaPay.
- Romanna Dada is a distinguished entrepreneur and UK-trained barrister, featured multiple times by Forbes, with a career spanning investment banking at Morgan Stanley, Abu Dhabi Commercial Bank, QIB (UK), and Qatar Venture Capital. She transitioned to the fashion industry, founding the largest modest fashion marketplace, successfully exited in 2018. Currently, she leads a new entity within the Saudi Sovereign Wealth Fund, focusing on innovative ventures and strategic investments.
- Usman Bashir, CEO of Brake Time and Breaktime Corner Market (BTCM) LLC, is a visionary leader with over 15 years of experience, managing over 300 U.S. retail outlets, including gas stations, fast food chains, and vape shops, while also investing in hotels like Marriott, the electric vehicle industry, and retail food and beverage franchises.
The show’s format emphasizes innovation, business expertise, and entrepreneurial drive, giving participants the chance to secure significant investments and mentorship from the country’s leading business figures. With Shark Tank’s debut in Pakistan, Green Entertainment isn’t just presenting a reality show; it’s also fostering the growth of the entrepreneurial ecosystem. This initiative highlights emerging talent and helps bring novel ideas to the market. Shark Tank Pakistan is set to captivate a broad audience, especially those interested in business and economic development. This marks a pivotal moment in the local television industry, as it introduces a globally recognized franchise that aligns perfectly with Pakistan’s growing focus on entrepreneurship.
