Image Credits: Shark Tank India
Last updated on 02 March 2023. Find everything about the pitch of Oye Happy Gifhts on Shark Tank India, its founders, and the latest updates about the company!
Oye Happy on Shark Tank India
Two Cousins wants to revolutionize the Indian gifting space, but will they get a deal from sharks?
Here are the key details about their pitch on Shark Tank:
| Name | Oye Happy |
| Founder | Harshvardhan Khemani, Varun Todi |
| Episode | Season 2 Episode 43 |
| Ask | ₹50 Lakhs for 1% Equity |
| Deal | No Deal |
| Sharks | NA |
| Status | In-business |
Oye Happy is an online gifting company that offers a wide variety of presents that you can give to your partner, mother, father, or friends. You can also visit their website for customized options.
If you are married or want to gift something to a married couple, they have a Naughty Board Game, available on Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/41AAy8d
Another great item in their line is this 90s Nostalgia Kit that has a comic book, mango bytes, bucket boat, Magic Pop, brick game, and orange candies. You can get it from Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3y7pbay
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The entrepreneurs wanted ₹50 Lakhs by giving 1% shares.
The pitch started in a different direction, with gifts for couples, which they did to hype up the sharks. They also brought something for the sharks and all liked what they got.
But the aspect of selling all gifts for couples and families under the same name was hard to digest.
The FY 2021-22 revenue was ₹10.5 Crores with 85% of it coming from their website. The gross profit is around 80% but there was also a lot they spend on marketing. Then, a 50-member creative team also tightens its net margin.
Amit said that expanding beyond this will be difficult. Namita was because she thinks the market size is limited. Also, customers coming back is not so easy and the customer acquisition cost will always be hight. That’s why no one made an offer.
Here is the 90’s kit product video:
Oye Happy Gifts didn’t get a deal on Shark Tank India.
About The Founders
Harshvardhan Khemani and Varun Todi are the founders of Oye Happy. The business is located in Hyderabad, Telangana.
Harshavardhan is the CEO and Chief Happiness Officer of Oye Happy. He studied Marketing at Christ University, Bangalore. After some corporate experience, he wanted to do something on his own. So, he started this gifting portal in 2014 with his cousin.
Varun also has an MBA in Marketing from Symbiosis Centre for Management Studies. They both previously worked on another venture called ‘WithInsights’, an advertising agency.
After Shark Tank Updates
While they left the tank without investment, they must be happy with the free promotion that they got from crores of people who will watch the show, now or later.
Shark Anupam advised them to add their website name to the packaging for better brand recall.
By the way, other businesses featured in this episode were What The Food, Funngrow, and Aadvik Camel Milk.
Before ending this article, we have the official company product pitch: “Oye Happy is India’s most innovative gifting company. We are the first in the country to introduce innovative product categories to evolve the traditional way of gifting. Their range of Naughty Gifts, for instance, has given Indians a choice to gift board games and first-night hampers to their partner. For those who aren’t materialistic and are looking for eco-friendly gifts for mothers or elders, they can choose from their range of social gifts and donate to a cause on the special person’s behalf.”
Takeaways
So now you know about what happened with Oye Happy Gifts on Shark Tank. We wish them great success!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.