What Happened to Gud Gum After Shark Tank India?
What is Gud Gum?
Gud Gum is a plastic-free chewing gum. It’s 100% natural. It’s made of chicle tree sap, essential oils, fruit extracts, and natural sweeteners.
Chewing gum contains plastic materials inside. Polyvinyl acetate is a common material used in chewing gum. Also, it takes more than 100 years to biodegrade chewing gum.
But not with Gud Gum. It biodegrades easily in the soil. It’s kids and diabetic-friendly.
Some of the popular flavors are Cinnamon, Raspberry, Charcoal, and Lemon.
Who is the Founder of Gud Gum?
Mayank B Nagori & Bhuvan B Nagori are the founders of Gud Gum. They are brothers. They are from Bangalore. Mayank is 29 & Bhuvan is 24 years old.
Mayank is a chemical engineer; he later pursued his MS in food science.
Equity split of Gud Gum
| Bhuvan | 50% |
| Mayank | 30% |
| Mayank’s wife | 20% |
Gud Gum Before Shark Tank India?
They started the company in April 2022. More than 17,000 customers have tried Gud Gum. Gud Gum has 9 SKUs in total. They also make chewing gum for Perfora.
Anupam Mittal previously met the founders. And Vineeta Singh saw the ads of Gud Gum on Instagram. Gud Gum has 5k followers on Instagram. Their target age group is 22 to 45 years.
Gud Gum comes with paper strips that can be used for spitting the chewing gum after eating.
The market size of chewing gum is ₹1000 Crores in India. In the future, Gud Gum wants to add more products like lollipops, candies, and cough drops.
How much money did they ask for on the pitch?
They came to Shark Tank India seeking ₹50 Lakhs for 5% equity in their company Gud Gum. Which gives the company a valuation of ₹10 Crores.
How much money did they raise for Gud Gum?
They haven’t raised any money for the business. It’s a bootstrapped company. They took a loan from their father. The loan amount was ₹6 Lakhs.
How to get Gud Gum?
You can easily get Gud Gum on their own website. It’s also available on Amazon. If you want to buy it physically, then you can do that also in 120 retail stores. Currently, 14 cities have Gud Gum.
Unit Economics of Gud Gum
| MRP | ₹99 |
| COGS | ₹23 |
| Discounts | ₹10.9 |
| GST | ₹17.8 |
| Salary | ₹7 |
| Admin Cost | ₹3 |
| Shipping | ₹7 |
| Marketing | ₹7 |
| Rent & Electricity | ₹3 |
| Profit | ₹20 |
Who mainly consumes chewing gum?
Mainly 4 categories of people eat chewing gum. They are,
- Parents and kids
- Athletes
- Smokers
- Diabetic patients
Price of Gud Gum
All the packages come at ₹99. Their target is to reduce the cost from ₹99 to ₹75 in the upcoming year.
What are the Annual Sales of Gud Gum?
| Fiscal Year | Annual Sales |
| 2022 – 2023 | ₹29.7 Lakhs |
| 2023 – 2024 | ₹1 Crore Projected |
Sales split of Gud Gum
| Online | 50% |
| Offline | 50% |
Which shark gave Gud Gum an offer?
Namita Thapar was out. She thought the TAM was too small. She didn’t like the price, which was too high. Also, she didn’t like the product as it was too sweet.
Aman Gupta offered them ₹50 Lakhs for 5% & 5% royalty until ₹50 Lakhs is recouped.
Vineeta Singh offered them ₹50 Lakhs for 5% & 5% royalty until ₹50 Lakhs is recouped.
Ritesh Agarwal, Anupam Mittal & Aman Gupta gave a combined offer. The offer was ₹50 Lakhs for 10% & 5% royalty until ₹50 Lakhs is recouped.
| Offer 1 | Offer 2 | Offer 3 |
| Aman Gupta – ₹50 Lakhs for 5% & 5% royalty until ₹50 Lakhs is recouped | Vineeta Singh – ₹50 Lakhs for 5% & 5% royalty until ₹50 Lakhs is recouped | Ritesh Agarwal, Anupam Mittal & Aman Gupta – ₹50 Lakhs for 10% & 5% royalty until ₹50 Lakhs is recouped |
What deal did Gud Gum get in Shark Tank India?
Gud Gum got a deal from Vineeta Singh, Ritesh Agarwal, Anupam Mittal & Aman Gupta. The deal was ₹80 Lakhs for 10% & 4% royalty until ₹80 Lakhs is recouped.
| Company Name | Gud Gum |
| Founders | Mayank B Nagori & Bhuvan B Nagori |
| Asked Amount | ₹50 Lakhs for 5% |
| Final Deal | ₹80 Lakhs for 10% & 4% royalty until ₹80 Lakhs is recouped |
| Sharks | Vineeta Singh, Ritesh Agarwal, Anupam Mittal & Aman Gupta |
| Company Net Worth | ₹8 Crores |
| Company Website | gudgum.in |
| Company Status | In Business |
What is the net worth of Gud Gum?
After the four-shark deal in Shark Tank India, the net worth of Gud Gum is ₹8 Crores.
Is Gud Gum still in Business?
Yes, Gud Gum is still doing business in the chewing gum industry.
