Greetings, Shark Tank fans! On a recent episode of Shark Tank India Season 3, Rahul from Ludhiana, Punjab, and Pushpender from UP, Ghaziabad, presented their novel platform, “Intervue.” Their pitch was so compelling that the sharks couldn’t help but be fascinated.
Software developer Rahul talked about how he went from being a Bade Papad Bell to learning to code and working for a software company. He emphasized the difficulties businesses encounter in conducting technical interviews in a timely and effective manner, which causes hiring procedures to be delayed and potential applicants to be lost.
Rahul describes Intervue as a cutting-edge platform that offers a standardized, scalable, and quick interview platform with the goal of streamlining the employment process. The startup wants to build a global database that will speed up hiring for businesses all over the world. Intervue claims to make hiring quicker and more effective, having recommended seven out of ten individuals who were chosen.
Also Read : Vineeta Singh (Indian Entrepreneur) Biography
How It Works
The platform’s creators described how it works, highlighting the impartiality and ease of use it offers technical interviewers. They presented the dashboard, showing how employers could quickly find and assess applicants according to particular technical requirements. For hands-on coding, the platform offers a collaborative coding environment that guarantees an impartial assessment of candidates’ technical proficiency.
Unique Features
The capacity of Intervue to identify applicants who might be lip-syncing during interviews is one of its most notable characteristics. This guarantees the validity of the interview procedure, which is essential for selecting the best candidates. Furthermore, the platform facilitates prompt feedback and assessment, empowering organizations to arrive at better informed and expedient selections.
Revenue Model and Market Dynamics
Rahul and Pushpender emphasized the worldwide nature of hiring while exchanging views about the dynamics of the market. They displayed their revenue strategy, which pays active interviewers between 60,000 and 70,000 rupees a month on average. With significant expansion, Intervue generated 88.7 crores in gross sales during the most recent fiscal year.
Investment Pitch
The founders sought a 1.5 crore investment for a 10% equity stake in their company. The sharks were impressed by the potential but had concerns about the valuation. Negotiations ensued, with Rahul and Pushpender eventually receiving a combined offer of 5 crores from Aman and Anupam for a 10% equity stake, valuing the company at 50 crores.
Final Moments
In an attempt to keep the valuation cap at 15 million, Deepender made a counteroffer. Aman made a final offer of 3 crores, with a ceiling of 2 crores, as the negotiations went on. After Deepender agreed to the terms of the offer, Intervue was able to get the funding and guidance it needed to grow.
Conclusion
Ingenuity, market knowledge, and tenacity were all on display in Vineeta’s Intervue pitch. Through skillful maneuvering in the Shark Tank, the founders were able to close a deal that will set them up for future success in the global employment market. We wish Rahul and Pushpender the best of luck as they set out on this exciting journey to transform their idea for Intervue into a huge international success.
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