What Happened to OLL After Shark Tank India?
Every year 9.8 Crores students complete their school study in India. Among them 7.2 Crores students don’t have any access to important skills that will help them in the job market.
The reason behind this is,
- There’s not enough awareness about these skills.
- The skillsets come with a pricey model.
- There are not enough teachers out there to teach these skill sets.
Who is the Founder of OLL?
Shreyaan Daga is an 18-year-old guy who’s the founder of OLL. He dropped out after the 10th standard. Shreyaan wanted to cater to this problem and make a platform where every student can learn these important skill sets.
Shreyaan always had an entrepreneurial mindset. Some of his previous entrepreneurial work was:
- Selling his paintings at age 8
- Did an internship in the stock market in 7th grade
- Started giving loans in 9th grade
How much money did he raise for OLL?
He got his 1st investment from his father. That was ₹2 Lakhs. Later he raised more money.
| Investment Round | Money Raised | Valuation |
| First | ₹20 Lakhs | ₹3.2 Crores |
| Second | ₹90 Lakhs | ₹9 Crores |
How much money did he ask for OLL?
Shreyaan came to Shark Tank India seeking ₹30 Lakhs for 2% equity in the company. Which gives the company a valuation of ₹15 Crores.
How to use OLL platform?
The target age group for OLL is grades 1 to 10. The students can use the platform’s live interactive classes to acquire skills. Within the course, a student will get live teacher interaction. He can do 10 practical projects that will help him in the real world. After completing the course, a student will get a certificate.
In OLL there are 300 active teachers. The teachers get paid on an hourly basis.
Till now 35,000 students have used the platform. The long-term vision is to reach a billion students in the future.
OLL has 6 hero workshops. Public speaking, robotics, coding, financial literacy, etc. are topics of these workshops.
In the last 2 years, OLL did ₹2.2 Crores of lifetime sales. Last month’s sale was ₹28 Lakhs. Among that, Shreyaan made a profit of ₹18 Lakhs.
Which shark gave OLL an offer?
Namita Thapar was impressed with Shreyaan. But she thought there’d be problems in scaling this business model. That’s why she was out.
Aman Gupta was out because he didn’t have any expertise on this matter.
Anupam Mittal thought Shreyaan was a genius. But he didn’t understand the business model fully. That’s why he was out.
Vineeta Singh asked Shreyaan whether he would sell his startup to bigger players like UnAcademy or Byjus. Shreyaan replied very smartly that he wanted to acquire Byjus or UnAcademy someday. And he has no plans of selling his company until he reaches a billion students.
Vineeta Singh was interested and offered ₹10 Lakhs for 2% equity and ₹20 Lakhs debt at 12% interest. Peyush Bansal gave the same offer. Then they combined the offer at ₹20 lakhs for 4% and ₹10 Lakh debt at 12% interest.
| Offer 1 |
| Peyush Bansal & Vineeta Singh – ₹30 Lakhs for 6% equity |
What deal did OLL get in Shark Tank India?
But Shreyaan didn’t want the debt part. So the offer was revised at ₹30 Lakhs for 6% equity. There was some counteroffer back and forth and finally, the deal got locked at ₹30 Lakhs for 5% equity of the company.
| Company Name | OLL |
| Founder | Shreyaan Daga |
| Asked Amount | ₹30 Lakhs for 2% |
| Final Deal | ₹30 Lakhs for 6% |
| Sharks | Peyush Bansal & Vineeta Singh |
| Company Net Worth | ₹6 Crores |
| Company Website | www.oll.co |
| Company Status | In Business |
Which gave the company a valuation of ₹6 Crores.
Congratulations Shreyaan.
