If you’re a guy then every now and then you must have an itching problem in your private part area. How do you deal with that problem?
Worry not as Ananya Maloo and Anushree Maloo have brought the perfect solution to this problem. They are the Maloo sisters from Ahmedabad. They found a company that caters to the male audience of India, who suffers from an itching problem in private area.
Ananya Maloo has expertise in PR and journalism. Anushree Maloo has expertise in the operations of a modular kitchen brand.
The company name is Nuutjob, which I think is quite a no-brainer name. The name is a brand itself, it’s small, catchy, and tells you exactly what it’s dealing with. What else do you need a name for?
So, under the Nuutjob company, they have a couple of products.
The first one is Nuutwash. It will clean your nut, butt, hair, and body.
The second product is Nutfresh. Which is basically a deodorant for your lower private parts.
So, the Maloo sisters have come to Shark Tank India asking for 25 lakh rupees. In return, they are willing to dilute 5% equity of the company. That gives the company a valuation of 5 crores rupees.
That’s a lot of zero for cleaning the private part area, what do you think?
|Founder||Ananya Maloo & Anushree Maloo|
|Founder Expertise||PR, Journalism & Operations|
|Asked Amount||25 lakh rupees for 5% (5 Crore Valuation)|
|Final Deal||25 lakh rupees for 20% (1 Crore Valuation)|
|Sharks||Peyush Bansal, Aman Gupta & Namita Thapar|
|Current Net Worth||1 Crore|
|Company Status||In Business|
How did 2 sisters identify this problem?
So, the 2 sisters live in a joint family. If you live in a nuclear family, then you won’t understand the scene. When someone is living in a joint family, going to the bathroom will be hectic. Because there is only a limited number of bathrooms and a lot of people in the house.
The Maloo sisters had to take a queue for the bathroom, and generally, they could go last. They noticed that there was a lot of powder lying around on the bathroom floor and upon questioning, the male members of the family replied the powder was used to keep their genital area cooler.
That’s how the Maloo sisters realized there was a potential market out here.
To test the market, they initially made 1500 products and managed to sell around 500 of them. They took 1 year to test different products from different manufacturers and finally settled with one of them. Their gross margin is 70%.
Everyone was quite interested in this product. The first offer came from Ashneer Grover and Anupam Mittal combined. They wanted to give 25 lakhs, but in return, they asked for 25%. (The original ask was 5%).
Later Peyush Bansal, Aman Gupta & Namita Thapar gave the 2nd offer. They also wanted to give 25 lakhs, but in return wanted only 20%.
|Offer 1||Offer 2|
|Ashneer Grover & Anupam Mittal – 25 lakhs for 15%||Peyush Bansal, Aman Gupta & Namita Thapar – 25 lakhs for 20%|
Hearing the 2nd offer Ashneer dropped the equity from 25% to 15%. Now there’s an insane battle going on withing the judges because everyone wants a piece of NuutJob.
The 2 sisters were very excited about getting 2 offers from all 5 sharks. They chose Peyush Bansal, Aman Gupta & Namita Thapar and got the deal with them, diluting 20% of the company.
Exactly what can you expect to get when you order this product online? Well, lucky for you someone has tried this already and made an unboxing video of it for you to check out.