Mobile App Bullspree Raised Rs.75 Lakhs from Shark Tank India

Bullspree is a mobile app from Ahmedabad that provides a variety of fun financial market games. These games are designed to help users learn about finance in an engaging and profitable way. The app aims to recreate the excitement of real-world market trading, allowing users to play games, trade stocks, and earn rewards while experiencing the ups and downs of actual market movements. Users can create their own investment portfolios and compete with others on the app.

Click here to visite official website: Bullspree

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The person leading the company is Dharmil Bavishi. He studied Industrial Engineering and joined an online shopping company. The other leaders, Divyansh and Harsh, come from Ahmedabad. After a year and a half, Dharmil became the CEO. Divyansh has a B.Tech degree from IIT Delhi and has experience working with two small companies. Harsh is a certified accountant. From 2016 to 2019, he checked the finances of private businesses and healthcare organizations.

Over the past six months, Bullspree has attracted 200,000 users to its app. You can find their app on both the Play Store and the App Store. The app charges a 20% commission on all competitions. Noteworthy is their series of investments: they raised ₹2 crore at a valuation of ₹12.5 crore in September 2021 and then secured a second funding round at a valuation of ₹26.5 crore in February 2022, where they received ₹1 crore. In February 2022, they generated ₹1 lakh, and just before their pitch in July 2022, their total turnover was ₹90 lakh with revenue clocking in at ₹18.5 lakh.

With a remarkable growth rate of 100% per month, Bullspree boasts a customer acquisition cost of ₹52. They reported an average revenue of ₹21 per paid user in February 2022, which escalated to ₹322 by July 2022. Their D60 retention rate sits at 70%. The founders shared that they have sufficient funds for the next 5 months, with a current monthly expenditure of ₹18 lakh. They have ambitious goals and are projecting a revenue of ₹30 crore per month within the next 36 months.

Namita decided to pull out from the deal, expressing concern that the company lacks awareness about its competitors and fails to offer anything unique in the app. Vineeta also voiced her reluctance to invest in online gaming platforms, leading her to opt out. Anupam remarked that the market is already crowded, and it’s too late for the company to make an impact.

Aman put forward an offer of ₹26 lakh for a 1% stake in the company, proposing the rest in the form of a debt. Following this, Peyush expressed interest in joining Aman’s offer at the last valuation, resulting in a combined investment of ₹75 lakh for a 2.86% share of the business. When the company sought to make a counteroffer, Peyush declined, citing the high-risk nature of the company. Ultimately, the founders accepted the shark’s (investor’s) offer, sealing the deal with a handshake.

After showcasing their business on Shark Tank India, Bullspree did not finalize a deal with the Sharks post-show. The co-founder, Harsh, mentioned in a podcast that Bullspree has been thriving since its inception, and they received an overwhelming response after the Shark Tank India episode. He stated that they have expanded by 25 times since their appearance on the show, achieving a total turnover of 25 crores and profits of ₹5 crores by summer 2024. Harsh also shared that they were recognized by the Chief Minister of Gujarat in 2023. Fast forward to July 2024, Bullspree is still operational and experiencing growth in their business.