In the latest episode of Shark Tank India, entrepreneurs Sowmya Jagannath and Neha Sharma from Bangalore pitched their innovative solution to a common parenting dilemma – the increasing screen time of small children. The duo, parents themselves, presented Vobble, a unique kids’ audio platform aiming to provide a healthy, fun, and productive alternative to excessive screen time.
Introducing Vobble, a groundbreaking kids’ audio platform that seeks to redefine the way children engage with entertainment. Founded by parents Sowmya Jagannath and Neha Sharma from Bangalore, Vobble aims to address the pervasive issue of increasing screen time among small children by providing a healthy, fun, and educational alternative. This innovative platform offers captivating music stories and audio shows designed as a complete multi-sensory experience, making it an exciting venture for parents and children alike. With a vision to become the world’s largest and best exclusive kids’ audio platform, Vobble is set to transform how families approach leisure and learning for their little ones.
Sowmya and Neha highlighted the prevalent issue faced by parents today – the constant need for screens in various scenarios, from meals to boredom and outdoor activities. They emphasized the challenge of weaning children away from screens and the ensuing drama that often follows.
The Solution – Vobble: Sowmya and Neha introduced Vobble as a comprehensive kids’ audio platform that offers captivating music stories and audio shows in a multi-sensory experience. The content is curated to resemble movies with dialogues, and sound effects, and narrated by children. To enhance engagement, Vobble provides headphones and audio-related activity books.
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Vobble Vision:
The entrepreneurs shared their vision of making Vobble the world’s largest and best exclusive kids’ audio platform, positioning it as a healthy, enjoyable, and productive alternative to screen time.
The Pitch: Sowmya and Neha sought an investment of 25 lakhs for a 1.5% equity stake in their venture. The sharks were intrigued and started probing into the details of the product, its development, and the market.
Business Model and Revenue: While admitting to pre-revenue status, Sowmya and Neha disclosed that they had generated ₹6 lakhs in the last one and a half months. They emphasized their focus on product development and achieving product-market fit (PMF) before prioritizing revenue.
Shark Tank Offers:
Shark Namita was the first to make an offer, proposing 25 lakhs for a 5% equity stake, valuing the company at 5 crores. Another shark, Anupam, expressed interest but ultimately decided to opt-out. Shark Ashneer offered guidance and mentorship but did not invest.
Shark Anupam raised concerns about the lack of clarity in Vobble’s business model and advised the entrepreneurs to choose between being a hardware or content company. Shark Namita emphasized the importance of clarity and suggested exploring a more affordable pack for immediate user adoption.
Negotiation:
The entrepreneurs shared that they had raised a convertible note from Vitan Institution Fund and tech angels, valuing the company at 25 crores, with a floor of 10 crores. They proposed a 1.5% equity stake in exchange for the sharks’ support, while still honoring the initial offer.
Deal Conclusion:
Ultimately, Shark Namita accepted the revised offer of 25 lakhs for a 1.5% equity stake, bringing Vobble under her mentorship. The entrepreneurs expressed gratitude, and the sharks wished them luck on their mission.
Deal Closed At ₹ 25 Lakhs for 2% Equity with Namita
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Conclusion:
The pitch for Vobble on Shark Tank India showcased the entrepreneurs’ dedication to addressing a pressing issue in parenting and providing an innovative solution. The acceptance of the deal marked a promising step forward for Vobble’s mission to revolutionize children’s screen time.
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