Shreyaan Daga is an OLL co-founder. He is eighteen years old.
PERSONAL INFORMATION
Shreyaan father is a venture capitalist. His father gave him 2 lakh rupees to start the business, and he has multiplied the money back to him.
ABOUT THE COMPANY
Every year, approximately 9.8 crore students graduate from high school. 7.8 crore of these students lack the necessary technological skills and knowledge. There could be several reasons for this, including the fact that many of us are unaware of skill development, that applications are expensive, and that teachers are not readily available. OLL was created to address this issue. OLL is a skill development platform for students in grades 1 through 10. They offer live interactive classes and are STEM and UNESCO certified.
With OLL, they have developed 35000 students. They have hero workshops in robotics, coding, and public speaking.
Investing in money.
Skills for the twenty-first century.
They usually go to schools and teach these skills. This is a live online group class. If the school allows it, they may also offer offline classes. In school, each student is charged 2000 rupees.
The company contracts with teachers and pays them hourly. They currently have 300 active teachers on board. They have a 41% retention rate. Their rating is 4.8 out of 5 based on 12000 reviews.
SHARK TANK
Pitchers demanded 30 lakh rupees for a 2% stake in the company.
The company has 2.2 crore rupees in lifetime revenue. Last month’s sales were 28 lakh rupees, with a net margin of 18 lakh rupees. They have raised funds in two rounds. One at a 3.2 crore rupee valuation from accelerator for 6.25%, which is 20 lakh rupees. In the month of May, the second round was for 90 lakh rupees at a valuation of 9 crore. They want to increase B2B orders in order to increase up-sell and cross-sell of their products.
Vineeta offers 10 lakhs in exchange for 2% equity and 20 lakhs in debt at 12% interest.
Peyush and Vineeta re-offered for 20 lakhs in exchange for 4% equity and 10 lakhs in debt at 12% interest. Peyush and Vineeta change the offer to 30 lakhs for 6% equity and no loan.
Pitcher counter offers 4% in exchange for 30 lakh rupees.
Pitcher requested that it be done for 5% of the same value.
Peyush and Vineeta agreed to a 30 lakh rupee deal in exchange for 5% equity at a valuation of 7.5 crore rupees.
