If you’re wondering why there are 2 p’s in the name, it’s because Rohit couldn’t find the domain name available with Sipline. Rohit thought of this product in 2016 and launched it in 2020.
Rohit created this product thinking this would help a lot of people when they go to a restaurant or bar and drink from unhygienic glasses.
It’s basically a mask for glass, at least that’s what the tagline said when Rohit was pitching this idea in Shark Tank India. This is sterilized. It can be reused. And it can be placed on the dirty rims of the glasses. So that when you’re taking a sip from the glass, your lips are not directly touching the glass rims.
Post 2020 pandemic, almost everyone used masks when they were going outside. The vision Rohit had was this Sippline would be the mask of the glass.
He came asking for ₹75 lakhs in exchange for 15% equity of the company. Which gives the company a valuation of ₹5 Crores.
To be honest, when he was sharing the idea, I was pretty sure that the sharks would absolutely HATE this idea and bash him for good. Not a single shark seemed interested.
I was right because just after the pitch, Ashneer Grover and Aman Gupta raised their hands and declared they were out of this deal. They didn’t even ask a single question to Rohit.
Aman couldn’t stop laughing but Ashneer went full on Ashneer mode.
And you know what happens when Ashneer is angry.
Namita asked Rohit if there were any similar products abroad and Rohit replied this is one of a kind, which made Ashneer angrier.
So, let’s talk about the sales of the product. Rohit sold 1200 pieces of Sippline. He said due to these 3 reasons he couldn’t sell more.
- The awareness of the product is low.
- They couldn’t do proper marketing of the product.
- The sales guy he hired couldn’t work properly.
Namita was out because she thought there was not enough demand for the product.
Vineeta was out because she thought the product wasn’t convenient. No one will carry the product to any restaurant and use it.
Anupam was out because he thought it would take years and millions of $ in funding to establish a new concept. And that concept has to be good. To Anupam, this concept wasn’t even good.
With all the sharks out, Sippline didn’t get any offer from Shark Tank India.
Is Sippline out of business?
It’s still doing Business. You can check it’s official website which is up and running.
If you go to YouTube you will find tons of videos of Rohit Warrier talking about his product. The brand has a YouTube channel which has 26k subscribers. It has an active Instagram page also. So, it’s safe to say it’s still doing business.
Wishing Sippline all the best.
|Asked Amount||₹75 lakhs for 15%, at ₹5 Crores Valuation|
|Company Status||In Business|