Before 2000, kids used to play outside in the field. Now the paradigm has shifted and they spend a lot of time on different devices. Children love playing games on mobile or tablets.
There’s no turning back from this. But what if the games become learning accessories and children can benefit from it?
What is GunjanApps Studios?
That’s what GunjanApps Studios is doing. They’ve made a variety of games for kids in such a way that they can learn by playing.
Who is the Founder of GunjanApps Studios?
Sourav Gupta & Gunjan Gupta are the founders of this company. They are from Kolkata. They started the company in 2016 with just 1 application.
GunjanApps Studios Before Shark Tank India?
Sourav Gupta & Gunjan Gupta are both engineers. Gunjan made a simple ABC application and let her kid play with it. When her kids used to tap on different letters the application would say the letter. That’s how her kids learned ABC, numbers, and colors.
That’s how they first thought of making more apps like this so that kids around the world can learn by themselves.
How much money did they ask for GunjanApps Studios?
They came to Shark Tank India seeking ₹2.5 Crores in exchange for 1% equity in the company. Which gives the company a valuation of ₹250 Crores.
Now in 2023, there are more than 40 games by this company and 200 million+ downloads in the Play Store. Kids from 1.5 to 12 years old can play these games. These types of learning apps were really expensive and most of them were subscription-based. That’s why Sourav Gupta & Gunjan Gupta founded the company and made these games free for mass people.
Before the pandemic hit, screen times used to be around 9 minutes for a kid. Now the screen time has become 60 minutes. And it’s not going back anytime soon. The sharks were worried about this.
Anupam Mittal said the founders didn’t create anything new. They just copied apps that are already popular abroad. Like ABCMouse, kiddopia, Appy Store. The founders denied the allegation but Anupam Mittal told them to meet outside the show where he could show them how wrong they are.
GunjanApps Studios earns from 3 streams.
What are the Annual Sales of GunjanApps Studios?
|2020 – 2021
|2021 – 2022
Unit Economics of GunjanApps Studios
In ₹24 Crores sales gross profit was ₹22.8 Crores and EBITDA ₹21 Crores. Net Profit ₹15 Crores.
They have a team of 32 people. The salary for 32 people is ₹8 Lakhs. That means yearly the salary is ₹96 Lakhs.
Which shark gave GunjanApps Studios an offer?
Vineeta Singh didn’t want to be a part of a company that is increasing the screen time of children. Also, she felt the valuation was too much. That’s why she was out.
Namita Thapar also didn’t want to be a part of this company. That’s why she was out also.
Anupam Mittal was out because he realized the company was going to compete against some of the biggest players in this industry who are already doing well in the subscription model. He didn’t think the company could win this war and that’s why he was out.
Peyush Bansal was out because he didn’t think the founders could hire more talented people in the team and spend more money on people. I mean that’s a valid thought because they are managing 32 people with ₹8 Lakhs budget. That’s like nothing in today’s world.
My thought is they are really underpaying the team. With ₹15 Crores profit every year, they could’ve spent more on people.
Aman Gupta would’ve joined Anupam Mittal if he had given any offer. But since Anupam was out, Aman was out.
|Sourav Gupta & Gunjan Gupta
|₹2.5 Crores for 1%
|Current Net Worth