What did the Ede guy do that made Shark Hung Anh withdraw Golden Ticket to win the "fiery" deal?

Bringing a vibrant atmosphere to “Shark Tank” through a song with a strong Central Highlands accent, Y Pot Nie – Founder of Ede Café entered the capital calling part with great enthusiasm, causing Shark Hung Anh to use Golden Ticket for the first time to exclusively negotiate at Shark Tank season 6.

Performance by Y Pot Nie - Founder of Ede Cafe in front of the Sharks, episode 14, season 6.

Ede ethnic man calls for 5 billion for 10% of shares

Y Pot Nie is an Ede ethnic child from Krong Ana district, Dak Lak province. Ever since he was born and grew up, witnessing and enjoying the hand-roasted coffee of his ami ama (parents - in the Ede language), his love for coffee gradually grew in him. He studied medicine and worked in a hospital, but Y Pot Nie decided to put it aside to develop his family's coffee beans.

Temporarily suspending his business after 3 months of establishment due to the Covid-19 pandemic, Y Pot Nie focused on developing sustainable raw material areas, production methods, and operations. He said he owns an abundant raw material area with 10 hectares of coffee from his family and 50 hectares associated with women in the village.

By 2022, his Ede Café brand was officially commercialized again, distributed through coffee shops, agents and online channels, achieving 7.5 billion in revenue with a profit of 1.2 billion. From the beginning of 2023 to the time of Shark Tank, Ede Café achieved 10 billion in revenue and 1.6 billion in profit. In addition, this brand also had orders in foreign countries such as Germany and Canada.

Y Pot Nie is an Ede ethnic person from Krong Ana district, Dak Lak province.

Aiming at exporting to promote products globally, Y Pot Nie realized that his ability to do business was still limited, so he went to Shark Tank to find an investor to accompany him in developing the brand. The capital he called for was 5 billion for 10% of shares.

According to founder Y Pot Nie, his company's coffee is roasted by hand and machine according to his own recipe. In response to Shark's concerns that others might copy his recipe, Y Pot Nie confidently said: "For me, I am learning every day and have my own recipe. I still see coffee as coffee, but when drinking our coffee, I assure the Sharks that it is "high".

The fiery chase between the Sharks in front of the Ede ethnic guy

Agreeing with Y Pot Nie’s argument, Shark Hung shared that coffee is similar to tea, the same ingredients but each person makes it differently. He pointed out interesting things in the startup’s business model such as the founder is Ede, the coffee is roasted by hand according to a unique recipe, has a special smoky smell…

Shark Hung Anh used the Golden Ticket to win the right to deal with startup Y Pot Nie.

Similarly, Shark Minh Beta and Shark Tue Lam gave positive comments to the startup. Shark Minh Beta commented that what Y Pot Nie is selling is not only coffee beans but also the story and quintessential cultural values ​​of the Ede people.

Shark Tue Lam assessed that the special thing about Ede Cafe is that the founder "breathed" locality into the product. However, coffee is not in her investment scope, so the female "Shark" refused the deal.

Shark Hung is a shareholder of a coffee company, so to avoid conflicts of interest, he quickly refused the startup.

The remaining Shark Binh, Shark Minh Beta and Shark Hung Anh are investors interested in Ede Cafe.

Shark Binh commented that he could help Ede Cafe add online "genes" to take the brand further and faster. With the values ​​that could support startups, he proposed to invest 5 billion in exchange for 35% of shares.

Golden Ticket worth 100 million VND for exclusive deal with Ede Cafe startup.

Shark Minh Beta proposed to invest 2 billion in exchange for 15% of shares, the remaining 3 billion is a convertible loan with an interest rate of 10%, convertible after one year of disbursement with a business valuation of 8 times ebitda (earnings before interest, taxes, depreciation). The Chairman of Beta Group also analyzed: "What you need to exploit more is the strength of communication, strategy, and vision. Even the network connecting to foreign markets is something I am quite confident that I can support you with."

Admiring Y Pot Nie's communication style and respecting the founder's ambition, Shark Hung Anh offered to invest 5 billion in exchange for 25% of shares and said he would support promotion, communication, and marketing for the startup.

Competing with Shark Hung Anh, Shark Minh Beta said that the two-part deal would help the startup have more motivation to develop and less dilution of shares. Shark Hung Anh immediately changed his mind with an investment offer similar to Shark Minh Beta but would not take interest on the convertible loan.

Negotiating with Shark, Y Pot Nie offered 20% of shares in exchange for an investment of 5 billion.

Shark Hung Anh said he would invest 2.5 billion in exchange for 20% of shares, and the remaining 2.5 billion would be a non-interest convertible loan. "Chasing" with the "Shark" in the same pool, Shark Minh Beta also made a similar offer, causing Shark Hung Anh to quickly decide to withdraw the Golden Ticket worth 100 million VND to exclusively deal with the startup.

After a period of confusion, Y Pot Nie decided to accept Shark Hung Anh's investment offer and received the Golden Ticket of 100 million VND.

The handshake of 5 billion VND in exchange for 20% of shares and a 100 million VND Golden Ticket between Shark Hung Anh and Y Pot Nie.

Shark Tank Vietnam season 6 episode 14 aired on the evening of January 1, 2024 recorded exciting capital calls from 3 startups: Ede Cafe - a business that produces hand-roasted coffee according to a unique recipe founded by an Ede man; Clever Mushroom - a startup that applies AI technology, computer vision, data science to grow mushrooms; Hoang Anh Da Lat - a company that creates, develops and applies the Hana mascot to souvenir products, games, books, and movies.

Source: https://www.baogiaothong.vn/chang-trai-e-de-lam-dieu-gi-khien-shark-hung-anh-rut-golden-ticket-gianh-deal-nay-lua-192240102091737378.htm