Intervue, a startup founded in 2019, aims to make the job interview process easier for both businesses and job seekers. They use AI & technology to help companies find suitable candidates. Intervue has completely streamlined the technical interview process. According to Intervue, 70% of the candidates they recommend are chosen by the hiring companies.
Intervue's founders are Rahul Arora, who serves as the CEO, and Pushpendra Rautela, who is the CTO. Rahul Arora and Pushpendra Rautela are both software engineers. Before founding Intervue, they worked as Senior Software Engineers at Paytm.
|Rahul Arora and Pushpendra Rautela
|₹ 1.5 Crore for a 1% equity
|₹ 1.5 Crore for a 2% equity
All About the Pitch
During the Shark Tank India episode on January 23, 2024, the Intervue founders, especially Rahul Arora, impressed the Sharks with their energy, earning Rahul the nickname "Rocket Singh." The founders sought Rs 1.5 Crore for a 1% stake. Anupam offered Rs 1.5 Crore for 3% equity.
During the pitch, Aman Gupta inquired about the specific problem Intervue's platform addresses. In response, Rahul showcased how their platform works. However, Namita wasn't keen on their business model and process, leading her to exit the deal. Vineeta sought further insights into their approach, and Rahul responded smartly.
Deepinder Goyal and Aman Gupta made a substantial offer of Rs 5 Crore for 10% equity (Rs 3.5 Crore from Deepi and Rs 1.5 Crore from Aman). However, the founders countered with Rs 5 Cr for 4% equity, suggesting they all join hands. Anupam agreed, but Deepinder exited the deal.
In the end, Aman Gupta sealed the deal, investing Rs 1.5 Crore for a 2% equity stake.
Takeaways From the Pitch
From this pitch on Shark Tank India Season 3, we can identify several key skills and lessons:
1. Pitching Skills: The founders, especially Rahul Arora, demonstrated impressive energy and presentation skills, earning Rahul the nickname "Rocket Singh." This highlights the importance of effectively conveying enthusiasm and confidence in a pitch.
2. Negotiation Skills: The negotiation process with the Sharks showcased the founders' ability to navigate and counteroffer. They successfully negotiated a deal that was favourable for both parties, securing a higher equity stake for the investment amount they were seeking.
3. Problem-Solution Articulation: Aman Gupta's inquiry about the specific problem Intervue's platform addresses emphasizes the importance of clearly articulating the problem and how the startup provides a solution. The founders effectively showcased their platform's functionality in response to this question.
4. Handling Critique: Namita's lack of interest in their business model could have been a setback, but the founders handled it professionally. This situation emphasizes the importance of staying composed and addressing concerns with a clear and thoughtful response.
5. Adapting to Investor Feedback: When faced with a substantial offer from Deepinder Goyal and Aman Gupta, the founders countered with a proposal that reflected flexibility and a willingness to collaborate. This shows their ability to adapt to investor feedback and find a mutually beneficial agreement.
6. Decision Making: The final decision to accept Aman Gupta's offer for Rs 1.5 Crore for a 2% equity stake demonstrates the founders' ability to make crucial decisions for the benefit of their startup.
Overall, this pitch highlights the importance of a well-rounded skill set encompassing presentation, negotiation, problem-solving, adaptability, and decision-making for a successful fundraising pitch on a platform like Shark Tank.