If you like Momo then this article is perfect for you. Aditi Madan is the founder of BluePine Foods Pvt. Ltd. She’s from Darjeeling. She’s also known as Momo Mami. She has two other co-founders Rohan Singh & Naveen Panwar.
Aditi has been doing the frozen Momo business for the last 5 years. She came to the Shark Tank India asking for ₹50 Lakhs. In exchange, she’s willing to dilute 5% equity of her company. Which gives her company a valuation of ₹10 Crores.
With the money, they want to open more outlets. Some money will be used for facility enhancements. Rest will be used in working capital and operations.
Aditi uses all-natural ingredients while creating the Momos. She has an outstanding 4-month shelf life of these Momos.
Till now she has sold 80 Lakhs Momos. She’s been selling Momos in different hotels and restaurants. They have tons of options when it comes to Momos. There are vegan & gluten-free Momos as well.
If someone wants to order online he can also do that through YangKiez, which is a quick-service restaurant solution by BluePine.
Aditi is from Darjeeling but now she lives in Delhi. And Delhi couldn’t fulfill her appetite for food that she used to get from Darjeeling streets. That’s why she decided to bring that Darjeeling food taste all across India.
Total sales in the last 5 years is ₹3.60 Crores.
|1st Year||₹9 Lakhs|
|2nd Year||₹27 Lakhs|
|3rd Year||₹47 Lakhs|
|4th Year||₹74 Lakhs|
|5th Year||₹1.09 Crore|
They have both B2B and B2C models.
Ashneer Grover gave the 1st offer which was ₹50 Lakhs for 7%.
Anupam Mittal was out because he couldn’t give a better offer than Ashneer. Even though he liked the product, he wanted Momo Mami to have a better offer.
Namita Thapar was out because she doesn’t have any expertise in this industry. Who would’ve guessed that, right?
Vineeta Singh gave an offer. She offered ₹50 Lakhs for 20% equity of the company.
|Offer 1||Offer 2|
|Ashneer Grover – ₹50 Lakhs for 7%||Vineeta Singh – ₹50 Lakhs for 20%|
After Vineetas’ offer, Aman Gupta always wanted to give an offer. But he doesn’t want to go solo. He tagged with Ashneer as he felt Momo Mami could use some marketing in the business. So now the revised offer from Ashneer Grover and Aman Gupta is ₹50 Lakhs for 12% equity.
|Revised Offer 1||Revised Offer 2|
|Ashneer Grover & Aman Gupta – ₹50 Lakhs for 12%||Ashneer Grover, Vineeta Singh & Aman Gupta – ₹75 Lakhs for 16%|
Aditi provided a counteroffer. She wanted ₹50 Lakhs for 10% or ₹75 Lakhs for 12% equity. Which I think is smart.
But Ashneer wouldn’t budge at this, instead, he gave Aditi a 3rd offer. This is a combined offer of Ashneer, Aman & Vineeta. Which was ₹75 Lakhs for 16% equity.
|Company Name||BluePine Foods Pvt. Ltd|
|Asked Amount||₹50 Lakhs for 5% (₹10 Crores Valuation)|
|Final Deal||₹75 Lakhs for 16% (50 Crores Valuation)|
|Sharks||Ashneer Grover, Vineeta Singh & Aman Gupta|
|Current Net Worth||₹4.7 Crores|
|Company Status||In Business|
Aditi took the 3rd deal. Now she has 3 sharks on board.
After this episode aired, people made shorts on Momo Mami and posted them on YouTube.