Guaranteed 100% startup receive money from Shark, but it is completely different from the “golden ticket” of American Shark Tank
Shark Tank Vietnam season 5 has returned with two new rules to add drama to the show, one of which is “Golden Ticket”.
With the Golden Ticket rule, Shark will use Golden Ticket when he wants to recruit startups and eliminate other Sharks to gain priority in negotiations. Golden Ticket has a starting value of 100 million VND. Shark has the right to increase the value of each bid with a minimum of 10 million VND and no limit on the maximum increase.
Most importantly, the money Shark pays for Golden Ticket will belong to the startup, even in case the negotiation or appraisal after the commitment on the air is not successful.
Right from the opening deal of episode 1 season 5, Golden Ticket was launched by Shark Hung and Shark Hung Anh to “hunt” Jungle Boss, an adventure travel company, specializing in organizing cave exploration tours in Quang Binh. .
According to the founder’s introduction, Jungle Boss is exploiting 8 adventure tourism products with many levels, for many different customers. In particular, the tourism product of exploring the Kong Collapse sinkhole with the experience of 100m vertical swing in the cave is the tour that accounts for the largest number of visitors and the biggest source of revenue of Jungle Boss. This product has been exclusively appraised and licensed by the Provincial Committee after receiving the mining scheme from Jungle Boss.
With great potential in tourism, Jungle Boss quickly received 3 investment proposals from Shark Hung Anh, Shark Hung and Shark Binh. Even, all 3 continuously entice startups with their inherent strengths, culminating when Shark Hung Anh decided to increase the amount of capital poured into Jungle Boss with an offer of 20 billion VND for 30% of the shares, raising startup valuation to 46 billion dong, the highest among all 3 Sharks.
At this time, not sitting still, Shark Hung decided to use Golden Ticket to gain priority in negotiating with the startup. Shark Hung Anh also used it, removing Shark Binh from the “race”.
As mentioned, Golden Ticket has a minimum value of 100 million VND, but after Shark Hung gave the number 100 million VND for his golden ticket, Shark Hung Anh immediately raised it to 150 million. Two Sharks continued to “struggle”, the number on the golden ticket continuously increased, from 160 million, 200 million, 250 million, 270 million, 300 million, 310 million. Finally, Shark Hung closed the number of 400 million on the golden ticket, officially removing Shark Hung Anh from the negotiation round with the startup.
After a while of agreement, the deal between Shark Hung and Jungle Boss closed at 12 billion dong for a 25% stake. However, because it used Golden Ticket, no matter what the evaluation results are later, the startup will definitely receive 400 million VND from the Vice Chairman of Cengroup. In addition, this 400 million dong is also calculated separately, not included in the committed capital of 12 billion dong.
In fact, the Golden Ticket is a game rule derived from the American Shark Tank, specifically the Shark Lori Greiner used to defeat the “tank mates” in the hunt. As the name suggests, the Golden Ticket in the American version of Shark Tank is made of real gold, and as revealed by Shark Lori Greiner, each year she only gives a golden ticket to a single startup, the startup that makes her really excited.
The biggest difference with the Vietnamese version of Golden Ticket is that when Lori used the golden ticket, she agreed to invest the right amount of capital as the startup required, without further bargaining.
The last time Shark Lori used this special ticket was in episode 14, Shark Tank America season 12, 2021, with the product Souper Cubes silicone frozen trays. Using Golden Ticket, Lori quickly agreed to invest $400,000 in the startup in exchange for 5%, an investment that made her tankmates regretfully give up because it was too “open” and no one could come up with a better deal. .
Before Souper Cuber, there were only 2 products that have received Golden Tickets from Shark Lori Greiner: Frywall (2018) – A product that helps prevent grease from splashing out when frying and Bug Bite Thing (2019) – A soothing product Inflammation caused by insect stings. It is known that with Frywall, Shark Lori agreed to invest 100,000 USD for the startup in exchange for 10% of the shares, and with Bug Bite Thing, it was 150,000 USD for 10%.
Bug Bite Thing Products
This year, in addition to the Golden Ticket rule, the second new point of Shark Tank Vietnam season 5 is the law Duel Pitch – Duel. The Law of Duel is for 2 products with the same field to participate in fundraising. After the presentation, only 1 startup was allowed to continue in the funding round and 1 startup had to leave with the privilege of returning to Shark Tank the next season.
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at Blogtuan.info – Source: cafebiz.vn – Read the original article here
