What Happened to Blix After Shark Tank India?
What is Blix?
Blix is a toy brand that helps children learn different things through playing. Children can learn robotics, voltage, power, force, and coding by playing with Blix toys.
Who is the Founder of Blix?
Abbas Gabajiwala is the founder of Blix. He’s from Mumbai. He’s 34 years old. He’s a 3rd generation toy maker in his family. He previously worked in his father’s company for 10 years.
His father is the owner of Zephyr Toymakers. One of the popular toys is Mechanix.
Abbas is the founder and his wife is the COO of Blix.
Equity Split in Blix
| Abbas Gabajiwala | 70% |
| Moiz Gabajiwala | 20% |
| Abbas Parents | 10% |
Blix Before Shark Tank India?
He started Blix in 2016. Previously it was a product of Zephyr Toymakers. Later it got separated and got its own identity.
More than 5000+ Indian schools have used Blix toys to teach their students coding and robotics.
How much money did he ask for on the pitch?
He came to Shark Tank India seeking ₹80 Lakhs for 2% equity in the company. Which gives the company a valuation of ₹40 Crores.
How much money did he raise for Blix?
He didn’t raise any money for Blix. He invested ₹1.5 Crores of his own money.
How to get Blix?
You can get Blix toys on their brand website. They are available in different marketplaces like Amazon, Flipkart, and Toys R US. They are also available in 2000+ retail stores.
Unit Economics of Blix
| Gross Margin for Blix for Education | 60% |
| Gross Margin for Blix Toys | 40% |
What are the Annual Sales of Blix?
| Fiscal Year | Annual Sales |
| 2022 – 2023 | ₹4 Crores |
| 2023 – 2024 | ₹8 Crores Projected |
Which shark gave Blix an offer?
Aman Gupta was interested in Blix. At first, he offered him ₹40 Lakhs for 4% and ₹40 Lakhs debt at 11% for 3 years. Abbas wasn’t okay with debt, that’s why Aman revised the offer at ₹80 Lakhs for 5%.
But there’s a condition. The condition is Aman will have the option to buy Abbas’s shares of Zephyr in case any family conflict arises.
Anupam Mittal & Vineeta Mittal offered ₹80 Lakhs for 5%.
Ritesh Agarwal & Aman Gupta offered ₹1 Crore for 6.25%.
Peyush Bansal also offered. He offered ₹80 Lakhs for 4%.
| Offer 1 | Offer 2 | Offer 3 | Offer 4 |
| Aman Gupta – ₹80 Lakhs for 5% Condition – Option to buy Abbas’s shares of Zephyr in case any family conflict arises | Anupam Mittal & Vineeta Mittal – ₹80 Lakhs for 5% | Ritesh Agarwal & Aman Gupta – ₹1 Crore for 6.25% Condition – Option to buy Abbas’s shares of Zephyr in case any family conflict arises | Peyush Bansal – ₹80 Lakhs for 4% |
All the sharks offered Abbas Gabajiwala.
What deal did Blix get in Shark Tank India?
Blix got a deal from Ritesh Agarwal & Aman Gupta in Shark Tank India. The deal was ₹80 Lakhs for 4%.
| Company Name | Blix |
| Founder | Abbas Gabajiwala |
| Asked Amount | ₹80 Lakhs for 2% |
| Final Deal | ₹80 Lakhs for 4% |
| Sharks | Ritesh Agarwal & Aman Gupta |
| Company Net Worth | ₹20 Crores |
| Company Website | blix.in |
| Company Status | In Business |
What is the net worth of Blix?
After the Shark Tank India deal, the net worth of Blix is ₹20 Crores.
Is Blix still in Business?
Yes, Blix is still in business educating children with their unique toys.
