In the world of technology, we often come across many companies and start-ups that have taken the industry by storm. GunjanApps Studios is one such company that has revolutionized the gaming industry for kids. GunjanApps Studios Founders Saurav Gupta and Gunjan Gupta, has created a series of more than 40 mobile games for kids that are aimed at teaching them English, Maths, puzzles, and workouts in the form of games.
The founders of GunjanApps Studios appeared on the Shark Tank India Season 2 with an ask of ₹2.5 crores for 1% equity of the company at the valuation of ₹250 crores. The sharks were curious to know more about the company and its journey so far. The founders shared that they started the company in 2016 with one app and today they have grown to have more than 40 apps with over 200 million downloads. Their vision is to make Gunjan apps available to every child.
The sharks were impressed with the company's success so far and were keen to know more about its revenue streams. The founders shared that their revenue is generated from three streams: advertisements, in-app purchases, and subscriptions. They generate 96% of their revenue from advertisements, 3% from subscriptions, and 1% from in-app purchases. In FY 21 to 22, their annual sales were 24 crores, and in FY 22 to 23, the sales in five months were 8 crores. The annual revenue run rate is rupees 17.4 crores. In FY 20 to 21, the annual sales were 14.7 crores, with a gross profit of 22.8 crores and EBITDA of 21 crores. The net profit is 15 crores, and currently, their team size is 32 members.
The sharks were impressed with the company's numbers and the potential for growth. However, they felt that the ask for 1% equity was too high. The sharks stepped out one by one, but the founders didn't lose hope. They knew the potential of their company and were determined to make a deal. They were persistent in their negotiations and were able to convince the sharks to reconsider.
In the end, no final deal was done, but the founders of GunjanApps Studios were determined to continue growing their business. They had a clear vision of where they wanted to take their company, and they knew that they had the potential to achieve it. The sharks were impressed with their persistence and determination and wished them all the best for their future endeavors.
GunjanApps Studios has set a benchmark in the gaming industry for kids. Their innovative approach of creating mobile games that are aimed at teaching kids important skills in a fun and interactive way has been well-received by parents and children alike. Their success story is an inspiration to all aspiring entrepreneurs who want to make a difference in the world of technology.
In conclusion, the GunjanApps Studios founders' appearance on Shark Tank India Season 2 was a testament to their hard work and dedication. They were able to showcase the potential of their company and the impact it can have on the gaming industry for kids. Although they didn't strike a deal with the sharks, they were able to leave a lasting impression on them. The future looks bright for GunjanApps Studios, and we can't wait to see what they have in store for us next.
ALIPPO LEARNINGS:
- Innovative approach: GunjanApps Studios' innovative approach of creating mobile games that are aimed at teaching kids important skills in a fun and interactive way has been well-received by parents and children alike. This shows that thinking outside the box can be a great way to create a successful business.
- Diversify revenue streams: GunjanApps Studios generates revenue from three streams: advertisements, in-app purchases, and subscriptions. Diversifying revenue streams can help businesses to become more financially stable and successful.
- Persistence and determination: The founders of GunjanApps Studios were persistent in their negotiations and were able to convince the sharks to reconsider. Persistence and determination are important qualities that can help entrepreneurs to achieve their goals.
- Clear vision: GunjanApps Studios had a clear vision of where they wanted to take their company, and they knew that they had the potential to achieve it. Having a clear vision can help businesses to stay focused and achieve their goals.
- Growth mindset: The founders of GunjanApps Studios were determined to continue growing their business. A growth mindset can help businesses to adapt to changes and challenges and continue to grow and succeed.
- Impact-driven business: GunjanApps Studios has created mobile games that teach kids important skills in a fun and interactive way. Creating a business with a positive impact can help businesses to attract customers and create a positive brand reputation.
