Shubham Kumar
Peyush Bansal, Founder and CEO at Lenskart, is one of the judges at Shark Tank India who is gaining unparalleled fame due to the compassion and consideration he shows in all the episodes. He co-founded Lenskart with Amit Chaudhary and Sumeet Kapahi in November 2010. Lenskart today operates over 500 stores in 70 Indian cities, making it the most prominent eyewear company in India. With a net worth approaching Rs 600 crores, the founder of Lenskart has earned himself a great deal of wealth at 36 years of age. Netizens hail him as not just an investor who invests only in money-minting ventures but an investor who believes in the development of society as the main motive. In Shark Tank India, he has shown multiple times how he is the only one who has compassion and is very unique and different from other investors aka sharks. Let’s see some glimpses from his life and from Shark tank which clearly proves the above statements.
1. Invests in the entrepreneur, not in the idea: He believed in Jugaadu Kamlesh when no one else did
Kamlesh, a son of a farmer with no professional degree, came to Shark Tank India with his Pesticide Spray Solution to help the agricultural sector. While his idea was good, there is bleak hope of success considering the low revenue of farmers in India. But Peyush Bansal wholeheartedly supported Kamlesh and offered him Rs 30 lakhs for his venture. Soon, Twitteratis started praising Peyush’s courage and compassion to invest in a business on a social cause.
2. Has the audacity to accept his mistake: He issued an open apology letter for all CAs
In an episode of Shark Tank, Peyush Bansal jokingly or mistakenly spoke some unpleasant words on Chartered Accountants’ community. But while someone else would have tried suppressing the critics, he instead issued an apology letter stating that what he did was unintentional and he would like to apologize from the core of his heart. He further stated that his sister, father, and his first investor are all CAs and he respects them all very much.
3. Invests for the cause: He is the only shark to invest in Gold Life Anti-Suicide Fan Rod
Gold Life Anti-Suicide Fan Rod is an exemplary invention to prevent suicides through ceiling fans. Though the idea is very useful, it is not commercially viable. So, no shark agreed on investing in the business but Peyush Bansal believed in him and invested stating that ‘Not all investments are for money, some are just for societal welfare’. Later, Gold Life received an investment worth Rs 50 lakhs for 30% equity from three sharks
4. Best at consoling: He gave hope to SID07 Designs when others were insulting him
Siddharth Gupta presented innovative designs of his company Sid07 Designs but most of them appeared to be already available in markets as Chinese products. Soon, all the sharks started pointing out how Siddharth is a no-man show who is confused and has no definite vision. But Peyush Bansal consoled Siddharth, pointed out similarities between him and Siddharth, and later offered him Rs 25 lakhs as an Equity investment and Rs 22 lakhs as a loan.
5. Gives equal opportunity to all: He motivated Nihaal and gave him his personal cell number to reach out for any problem
Nihaal Singh Adarsh, a 19-year-old engineer, showcased PPE kits that have fans to overcome the sweating problem for medical staff and healthcare workers. But his idea had several flaws due to which it was clearly a failure. Yet all the sharks motivated him and Peyush Bansal even gave Nihaal his phone number and assured him that whenever he has a great idea, he can reach him out.
6. Loves his homeland: He left his job at Microsoft and came back to aid in India’s growth
Peyush Bansal graduated from McGill University and pursued a course on entrepreneurship at IIM, Bangalore. He then worked for Microsoft as a Program Manager but later returned back to his homeland India to start his own venture. Had he not come back, India would have missed such a great business in lenses. This shows his devotion to his country.
7. Self-belief at high-level: He pitched his own company Lenskart to other sharks
Peyush Bansal is one of the few investors who always has faith in his own decisions. His belief led him to pitch his own Start-up Lenskart to other Sharks which showed how much he believed in his own idea. He asked for Rs 1 crore for a 1% stake in his company. This shows how good he is at involving the audience, branding his company as well as have faith in his own brand.
Do you watch Shark Tank India? What are your opinions on Peyush Bansal and other sharks in the show?
