Episode 8 of Shark Tank Vietnam season 6 (broadcast on the evening of November 20 on VTV3) brings exciting capital calls for creative models of startups.
Ngoc Nguyen and Dinh Huyen Trang want to raise 39 billion VND
Shark Hung Anh wondered: "I don't understand, I still can't figure out why you made a profit of 50%?"
With LaGaia, the first business location was only opened in March 2023, but after 5 months of operation, the company has had 7 new business locations in all 3 regions of the North - Central - South. Revealing the profit margin, Ngoc Nguyen shared: "In 2023, the revenue of the entire system is expected to reach 24 billion VND, income before tax, interest and depreciation can be up to 50%". Faced with this number, shark Hung Anh wondered: "I don't understand, I still can't imagine why she made a profit of up to 50%?".
Originally a math major at Amsterdam School, shark Minh Beta quickly showed off his mental calculation skills to help the startup clarify the above numbers.
Shark Tue Lam wondered: "I'm asking for 39 billion VND for 10%. So let's say I have 39 billion VND now, why don't I open a chain myself, I own 100% of it, but have to invest in another chain so I only have 10%?". Ngoc Nguyen thinks that Shark Tue Lam can do that, but currently LaGaia has 8 operating locations, can clearly understand customer needs, besides the business also has a parallel reporting and management system, and also has an academy to provide human resources. Regarding having a new "competitor", the co-founder of LaGaia thinks that this is a completely positive thing.
Shark Erik refused to participate in the deal.
Shark Binh was upset: "Why are you now asking the sharks for 350 billion VND? 35 times more. Is that 'bullying' the sharks?"
Shark Binh thinks that this number is only relative and unrealistic: “It is only realistic when your point of sale has reached capacity. It must run for at least 2 years”. Shark Binh also expressed disagreement and frustration with this valuation: “Why are you now calling the sharks for 350 billion VND? 35 times more. Is that 'bullying' the sharks?”.
The NextTech shark also expressed his annoyance: “You just invested 10 billion VND here and you are in a hurry to value the business 35 times more than the amount you invested.” In response to this opinion, the founders of LaGaia are confident that the number is not too large in the beauty market, and reaffirmed that this valuation was assessed by an investor from Korea.
Still not convinced by these arguments, Shark Hung Anh and Shark Tue Lam decided not to invest because they thought: "If there is such a huge profit, I will do it myself, there is no reason to spend 39 billion VND to own 10% of the shares". Shark Binh and Shark Erik also did not participate in the deal.
Shark Minh Beta (left) "closed" 39 billion VND for 25% of shares
Although he thought that "it is not easy to open a chain like this", however, impressed and impressed by the efforts of the young people, Shark Minh Beta "closed" 39 billion VND for 25% of the shares, which will be disbursed in stages with conditions on opening points and the participation of Korean investors. Ngoc Nguyen and Dinh Huyen Trang happily closed the deal, successfully closing the capital calling transaction.
Shark Tank Vietnam episode 8 also features PlayAh!, which received investment from shark Erik Jonsson.
Mant - a furniture brand - was rejected by the sharks for investment.
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