Last updated on 10 January 2024.
Find everything about WYLD’s pitch on Shark Tank India, its founders, and the latest updates about the company!
WYLD on Shark Tank India
With the cheap internet prices, not only content consumption rises but also the goal to be the next influencer.
Here are the key details about their pitch on Shark Tank:
| Name | WYLD |
| Founders | Yash Sakhlecha, Rij Eappen, Dishant Sanghvi |
| Episode | Season 3 Episode 8 |
| Ask | ₹50 Lakhs for 0.5% Equity |
| Deal | ₹75 Lakhs for 1.5% Equity |
| Shark | Anupam Mittal |
| Status | In-business |
WYLD is the world’s first social currency payment card. But what does that mean? Well, if you are a content creator, then this card can help you earn money.
They have partnered with VISA, and anyone with 1,000+ followers can get an extra income using a WYLD card. So, what you need to do is apply through their website first.
Then you can go to any of their partner store or restaurants, post the shopped items or food on social media, and receive cashback. Note that this cashback is given by the partner, not WYLD. The cashback depends on the user’s followers and reach.
The pitchers were looking for an investment of ₹50 lakhs into their new venture for only 0.5% equity.
Peyush was a little shocked to find that Lenskart was also one of the partner brands.
But the bigger shocker for the sharks was that they were giving a very high cashback. This might look like a lot but the pitchers said that this is generating a better reach for the brand at a lower price.
The startup was launched in July 2023, so at the time of the pitch, it can be considered pre-revenue with such small sales.
Azhar was already looking curious for this one, so he was the first to offer a deal for 5%, but they had already gotten a higher valuation in the previous round. Anupam also offered the money for 3%. Peyush went down to 2.5%.
Pitchers asked everyone to stay together. Amit and Anupam also had a little banter in between. A bidding game happened but only one shark won.
Watch the full pitch here:
Anupam Mittal invested ₹75 Lakhs in WYLD at Shark Tank India for 1.5% Equity.
About The Founders
Yash Sakhlecha, Rij Eappen, and Dishant Sanghvi are the founders of WYLD. The startup is headquartered in Mumbai, Maharashtra.
Yash is the COO of WYLD. He was an IITian, an alumnus of IIT Bombay, with experience before starting WYLD. He was also the co-founder of two other related startups. He worked there with Dishant, who is the CEO of WYLD.
Rij is the CMO, who has been a serial entrepreneur for more than 10 years, mainly in the traveling and hospitality industries.
After Shark Tank Updates
In a blog about their appearance on the show, they revealed that it was the Shark Tank India team who contacted them.
The founders of WYLD watched their pitch on Shark Tank with their new investor Anupam Mittal:
We also found out that Shark Aman Gupta was already an investor in WYLD. There are many more famous investors including Nikunj Lotia (beyounick), Varun Alagh (MamaEarth), Malini Agarwal (Miss Malini), and Shrishti Sahu (Hustle Hard Ventures).
By the way, other businesses featured in this episode were Tiggle Chocolate Mix and Upliance Cooking Device.
To know more about them, we found some extra information from their website: “WYLD is a platform for everyone out there who is present on social media to experience the power of their influence and what their word-of-mouth can get you in return. So while you shop from our partner brands, share and flaunt your shopping on your Instagram, and earn exclusive rewards and WYLD cashback on your card.”
Takeaways
So now you know about the pitch of the WYLD social currency card and what happened next. This deal is a wild one!
And if you don’t know who I am? I am Ranish Chauhan a.k.a. Fulmino Fan, a Fan of the Shark Tank show.