The founders asked for ₹1 crore in exchange for 30% equity, valuing the company at ₹3.33 crore.
They hoped to use the funds for:
- Expanding into new locations
- Marketing to attract more travelers
- Improving financial stability
While the sharks appreciated their vision, concerns arose about profitability, differentiation, and operational challenges.
Shark Ritesh Agarwal, the founder of OYO, immediately pointed out similarities between ArtBuzz and existing hospitality businesses. “How will you compete against big players like Zostel and OYO? What makes ArtBuzz unique?”
The founders emphasized their artistic appeal and traveler-friendly approach, but Ritesh wasn’t convinced and backed out.
Shark Vineeta Singh questioned whether ArtBuzz had a clear brand direction. “If you don’t stand for something, you fall for everything.” She felt that ArtBuzz lacked a distinct competitive advantage and decided not to invest.
Shark Azhar Iqubal and Aman focused on financial sustainability, questioning, why has the company not reached profitability yet and how do they plan to reduce operational costs?
The founders admitted that profitability is still a work in progress, leading Aman and Azhar to step away.
Shark Kunal Bahl appreciated the idea of affordable travel stays, but he raised concerns about, room pricing and occupancy rates and scalability without heavy discounts
Without a clear revenue optimization plan, he also chose to opt out.