Harsh Goenka, Chairman of the RPG Group, has stirred a lively debate with his candid take on Shark Tank India. Sharing his admiration for the show’s role in promoting entrepreneurship, he quipped, “I still love watching #SharkTankIndia. But it seems some of our sharks are still navigating choppy waters. There’s more ‘bleeding’ in the tank than I thought!”
Goenka’s remarks came with a biting reference to the financial losses reported by several companies owned by the show’s investors. Among the data he shared: boAt, led by Aman Gupta, recorded a Rs 54 crore loss in FY24; Anupam Mittal’s Shaadi.com reported an Rs 18 crore loss in FY23; and Peeyush Bansal’s Lenskart posted a Rs 10 crore loss. The largest figures included Rs 456 crore from Varun Dua’s Acko General Insurance and Rs 228 crore from Azhar Iqubal’s InShorts.
Goenka had written a similar post in January 2023. At that time, Anupam Mittal, one of the Sharks and founder of Shaadi.com, offered a measured rebuttal. “I know you meant it in jest, so with all due respect, sir, I think you reacted to what appears to be superficial, biased, and incomplete data,” he responded on X. Mittal also added a spirited defense of entrepreneurial risk, saying, “The Sharks don’t bleed red, we bleed blue, and that’s why we do what we do.”
The post quickly went viral, with social media divided on the issue. Supporters praised the Sharks for taking risks and backing innovation, while critics pointed to the financial losses as a sign of overreliance on high valuations.
Goenka’s humorous take has reignited discussions on the realities of entrepreneurship. Losses, as one user put it, are “part of the game,” but they’ve also prompted broader questions about the sustainability of India’s startup culture and the business strategies of its most celebrated founders.
Arvind Parashar, an author, reacted to Anupam's response: "Anupam the only way you could have responded is with data and substance. Not just rhetoric or words. Doesn't make sense in whatever you have mentioned here."
A businessman, however, countered that as long as the business is adding to GDP, any business is good even if it is showing a red bottom line. "Total revenue is important for economy and not net revenue," he said. "Expenses done become income in the hands of others which means more employment."