Entrepreneur Name – Abhishek Asthana, Jasveer Singh, Deepak Kumar
About the Entrepreneur – The company was founded by Abhishek Asthana, Jasveer Singh, and Deepak Kumar, who hail from Goregaon.
Abhishek Asthana, previously known as Gabbar, used to write anonymous blogs and comes from Lucknow. He has completed both engineering and MBA degrees.
Jasveer Singh, who is from a small village and excelled in studies since childhood, graduated in mathematics and also has an MBA degree.
He has previously founded and exited from two companies at a valuation of 10 crores and is now the CEO of Hood. Deepak Kumar, who is a skilled coder, comes from Jammu.
LinkedIn Profile- https://www.linkedin.com/in/jasveer10/
| Brand Name– | Hood App |
| Brand Website- | https://www.hood.live/ |
| Business Category– | Pseudonymous Social Network App |
Innovation – Yes, The Hood Discover Truth Application is a platform that promotes the fearless expression of ideas without resorting to personal attacks.
It encourages individuals to speak truthfully and discover reality without fear of repercussions.
| Company Valuation– | ₹112 Crores. |
| Equity Asked– | ₹1.2 cr for 0.2% Equity |
| Deal Closed– | Yes |
| Final Shark Tank Deal– | ₹60 Lakhs for 0.54% Equity & ₹60 Lakhs Debt |
| Target City/Country- | Worldwide. |
| Product/Services– | Pseudonymous Social Network App |
About the Product – The Hood is a social network that allows users to share content without revealing their identities.
Its most popular feature is the anonymous group function, which enables users to create groups for colleges, companies, and other communities.
All data on the platform is encrypted end-to-end to ensure privacy and security.
The app was launched in June 2022 and quickly gained popularity, with 500,000 users signing up in less than 45 days, resulting in the creation of 5,000 groups.
The app currently boasts 770,000 users. The information shared on the platform can be valuable and aligned with certain values.
Conclusion –
Abhishek Asthana, Jasveer Singh, and Deepak Kumar proposed a valuation of ₹1.2 crores for 0.2% equity in the company.
Shark Peyush and Aman made an offer of ₹60 lakhs for 0.54% equity and ₹60 lakhs as debt with a 12% interest rate at a valuation of ₹112 crores.
Ultimately, the deal was finalized with Peyush and Aman for ₹60 lakhs, which gave them 0.54% equity in the company at a valuation of ₹112 crores, along with a debt of ₹60 lakhs at a 12% interest rate.
