[Shark Tank season 5 episode 10] The return of Shark Hung Anh with golden ticket
09 Aug, 2022 (GMT+7)Export To PDF
Episode 10 Shark Tank Vietnam, Shark Hung Anh came back with golden ticket. The first appearance of Swedish "shark" Erik Jonsson. In addition, there were impressive negotiations between investors and startups.
4 "Sharks" competed to invest, Shark Hung Anh and Shark Binh simultaneously used golden ticket for negotiating with a Muong businesswoman.
Startup opening episode 10 is a charming Muong businesswoman - Nguyen Thi Thu Hoa. She is the founder of Truong Foods company specializing in the production and distribution of sour meat - a specialty of Phu Tho province. She came to call for investment capital of 15 billion for 10% shares.
Ms. Hoa started her business when she was 18, although she had no knowledge and experience at that time, with the desire to spread local specialties and bring sour meat specialties to all parts of the country, she researched and created a recipe for mass production of sour meat but still retains its characteristic flavor.
Up to now, she has nearly 5,000 points of sale, accounting for 40% market share of sour meat in Phu Tho province and neighboring provinces. The company's revenue growth rate from 2015 to 2022 is an average of 30% per year. By 2021, the company's revenue has reached 52 billion/year. The goal of Truong Foods is that by 2025, the revenue will reach 420 billion and become the number one sour meat in Vietnam.
In a whirlwind of deals from Shark Hung, Shark Lien and Shark Binh; Shark Hung Anh decided to open the safe to get the golden ticket and "slightly remind" that he has the Golden Ticket, so according to the rules of the game, only he can negotiate with the startup. This made Shark Binh also stand up to get a golden ticket to participate in this game and tell Startup "I will write this golden ticket for you 200 million, win the right to deal with you".
Shark Binh said he will also invite Shark Hung Anh to join this deal. Finally, after intense negotiation, the deal was successful with a commitment to invest 15 billion for 20% of shares with the condition that Startup will have to achieve the revenue and profit plan as mentioned. At the same time, Startup will receive the companionship of Shark Hung Anh and Shark Binh.
After the successful deal, Ms. Hoa added, "I'm so happy. The first time Shark Hung Anh opened the safe, I almost broke down. This person wants to invest. When Shark Binh continued to open the safe, the more I felt that I was invested. Joy is indescribable to all."
Shark Hung Anh and Shark Binh simultaneously used golden ticket for negotiating with a Muong businesswoman.
Although Shark Erik has just joined the "Shark" lineup, he has also successfully closed the first deal with Metaverse technology startup.
The second startup in episode 10 is Nguyen Anh Tuan - CEO & Co-founder Elite Meta. Open the introduction by inviting Sharks to experience Metaverse technology for online class participation. Mr. Tuan came to call for capital of 100 thousand dollars for 1% of the company's shares.
When asked about revenue by Shark Binh, Tuan Anh admitted that the company does not currently have. That revenue is expected to come from two sources: the rental of virtual classes, cooperation and % sharing with educational institutions. Shark Hung gives the opinion that virtual classes only increase the interesting experience for users, but do not change the content and behavior of the participants. The startup further explains that they have 2 models: learning 'vegetarian' and learning with teachers as usual.
As an interested and knowledgeable person about technology, Shark Erik immediately raised the question of comparing Startup products with Google. Mr. Tuan said that the market of "big guys" such as Google and Facebook is global and uses platforms that do not have too much customization for universal use for users. The Metaverse Edu platform will mainly serve the education sector, so the customizations in this model will be better.
Sharks argue about pursuing their dreams, outside of the debate about pursuing dreams, Shark Erik goes straight to the issue of Startup's somewhat "pricey" company valuation. Shark Erik reviews the product as interesting and could be applied in a few other ways. At home, his daughter also loves Metaverse and he suggested making the games educational instead of just a waste of time. Shark Erik makes an offer of $100k for a 15% stake.
After receiving this offer, Tuan Anh made the final decision: $ 100 thousand for 10% of the shares, that is reducing the company's valuation by 1/10 compared to the original and was agreed by Shark Erik.
Shark Erik closed a successful deal with Metaverse technology startup.
Startup Veca - an application that connects bottle collectors with bottle sellers and Ultima - provides car wash services at the cellar empty-handed.
The next startup appearing on Shark Tank Vietnam season 5 episode 10 is VECA - an application that connects bottle collectors with bottle sellers to call for an investment of 7 billion for 15% shares.
According to the introduction of the two founders Do Minh Trang and Bui The Bao, the VECA application was built with the desire to help buyers increase their purchase volume, increase orders and thereby their lives will be more stable. The app can also connect to provide a more sustainable supply of other components of the recycling ecosystem such as processing units or recycling plants.
Finally, the startup Ultima - providing car wash services at the cellar, calls for an investment of 1 billion VND in exchange for a 5% stake. To implement its service, Startup offers two main workflows. The first is numeric conversion. Instead of spending a few hours washing the car, customers only need to spend about 30 seconds scanning the QR code and ordering a car wash service. The second is green transition. His startup chose the product as the Ultima car care nanospray. This product has been approved by 4 organizations IARC, NTP, OSHA, EPA to be labeled eco friendly.
The start-up invited Shark Hung Anh to experience the product.
Although both startups received support from the Sharks. Unluckily, they left empty-handed.
Follow Shark Le Hung Anh at: https://www.facebook.com/SharkLeHungAnh