In episode 4 of Shark Tank Vietnam (broadcast on VTV3 on the evening of October 23), the audience was delighted with the introduction of Nguyen Thiep and Do Mai, founders of the traditional Vietnamese rice brand - Bach Khoa Rice Pot (established in 2014).
After 9 years on the market, Bach Khoa Rice Pot has 30 stores, including 14 self-owned stores, 16 franchise stores and 11 stores in the process of completion.
2 founders of Bach Khoa Rice Pot brand appear on Shark Tank Vietnam season 6
Shark Tue Lam and Shark Hung Anh "assess" before making a choice.
"We plan to develop throughout Vietnam...", Do Mai shared about the direction to attract the attention of the sharks.
After considering and weighing, Shark Hung Anh refused to invest in Com Tho Bach Khoa because he judged that the startup did not need more capital. Shark Louis withdrew because he found the startup's plan to conquer the Central and Southern markets unconvincing. Shark Tue Lam also refused this deal. Shark Hung commented that Com Tho Bach Khoa's business model was family-based, making it difficult to report finances. Therefore, he did not invest.
With only Shark Binh left, he shared: "Professional investors will reject you. Mainly because you are doing business according to the family model...". Do Mai further explained: "Because of the family model and realizing that there are many shortcomings, we came here not only to raise capital but also hope to have the companionship of the sharks to be able to consolidate resources and management for reasonable operation".
Shark Binh asked further: "So if the shark invests, when can the money be withdrawn?", Nguyen Thiep replied: "Investors can receive profit sharing right from the time of investment or can withdraw capital in the next round of capital calling of the startup".
After much tension, the representative of Bach Khoa Rice Pot (right) agreed to the cooperation proposal and had a very nice "handshake" with Shark Binh.
Do Mai made a new proposal with the figure of 10 billion VND for 36% of shares, Shark Binh said, each side backed off a bit, which was to invest 7.5 billion VND for 36%, with some conditions such as: having to open 100 stores as committed, having to pay dividends to investors annually... The two founders of Bach Khoa Rice Pot agreed to this proposal.
Young fashion startup successfully raises capital
Episode 4 of Shark Tank Vietnam season 6 also features the appearance of international students in the US with the fashion brand L'arlesienne, Dinh Phuc Khang - the founder who just turned 18 and Nguyen Ngoc Khanh Linh - the art director who turned 16.
Coming to Shark Tank Vietnam season 6, L'arlesienne called on the sharks to invest 300 million VND for 15% of shares to produce the next collection. Phuc Khang admitted that he did not have much experience or knowledge in design or business management but had a passion for fashion.
Shark Tue Lam believes that only high-income earners in Vietnam are willing to pay for bags priced at VND5 million or more. She advises startups to look for markets with higher incomes and consumer demand that better suits the product. Therefore, she does not invest.
Shark Hung Anh and Shark Binh also withdrew because they thought that the most important thing right now for the two young founders was to focus on their studies. Shark Binh also added: "We can only do our best when we are with our customers."
Shark Binh did not invest because he thought the most important thing right now for the two young founders was to focus on studying.
Shark Hung offered to invest 300 million VND in exchange for 30% of the fashion brand's shares.
And L'arlesienne agreed.
After consideration, Phuc Khang negotiated with Shark Hung an investment of 300 million VND in exchange for 25% of the shares. Shark Hung continued to propose 30% of the shares for the 300 million VND investment and L'arlesienne agreed, closing a successful capital raising deal at Shark Tank Vietnam season 6.
Bui Thi Hoang Diep - founder of eJoy, a tool for learning knowledge and English through watching movies, playing games, and relaxing, integrating AI from Google, Microsoft, and Amazon into all video and text websites for translation and lookup, called on the sharks to invest 100,000 USD for 2.2% of shares. However, she failed to win over the sharks.
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