Ganesh Balakrishnan, an IIT Bombay graduate, turned down the shark’s offer of 33% equity.
PERSONAL INFORMATION
Ganesh’s wife is a software engineer who works for a German company.
The couple had a daughter around the age of ten.
Their family lives in Bengaluru, and the entrepreneur runs his business from there as well.
EDUCATION
Ganesh had completed an MBA degree and later worked in the corporate world.
CAREER
Ganesh assisted in the development of several brands.
The businessman founded three companies in the last few years, all of which failed completely. The entrepreneur told the sharks on Shark Tank that his company, Flatheads, which was founded in 2019, started off well, but then the Covid-19 pandemic struck, putting his company in a difficult situation. Their shoes range in price from Rs. 1000 to Rs. 5000. In a recent episode, the company’s founder told the sharks that, while his company sells the product, it is not profitable. Ganesh Balakrishnan, the company’s founder, also had a co-founder of the brand who designed these shoes. Peyush Bansal has offered Ganesh Rs. 75 lakh in exchange for 33% equity, subject to certain conditions. After hearing the deal, Balakrishnan went out and spoke with his investors, who advised him to proceed with the transaction. However, as soon as Ganesh returned inside, he declined the offer and stated that he would reconsider his priorities. In the meantime, Anupam Mittal offered him a job.
