Have you ever thought about making a career out of gaming? I guess you haven’t. And neither did I.
For a long time, the most subscribed YouTuber was a gamer, called Pewdiepie. It’s no surprise that people involved in the gaming industry are making a lot of money.
What is Upthrust Esports?
Nowadays a lot of gaming tournaments are held every year and game enthusiasts participate in these tournaments. And the prize money is also huge.
So, why not make a company based on these gaming tournaments and money with it?
That’s exactly what Upthrust Esports is doing.
Who is the Founder of Upthrust Esports?
How much money did they ask for Upthrust Esports?
They came to Shark Tank India seeking ₹75 Lakhs for 3% equity in the business. Which gives the company a valuation of ₹25 Crores.
Upthrust Esports Before Shark Tank India?
Upthrust Esports organizes different gaming events. Till now they’ve organized 30+ gaming events. From time to time they produce events as well. The team winning these events can win a large sum of prize money.
Upthrust Esports does White Labeling production for other brands also.
Upthrust Esports is big on social media. They have 460k subscribers on YouTube. When they organize gaming events they utilize their YouTube channel to broadcast the event.
There are currently 42 Crores gamers in India. And it’s growing every year. But most people are casual gamers. In the Upthrust Esports community, there are 8 Lakh gamers.
Anupam Mittal launched the 1st gaming company named Mauj Mobile so he knew a lot of insights about the gaming industry.
The founders wanted to give the sharks a proper gaming experience so they brought a professional esports caster Piyush Bhatla with them. They made Amit Jain & Anupam Mittal play against each other and while they were playing Piyush did commentary.
With this small gaming challenge, the sharks got a taste of the actual gaming scene.
What are the Annual Sales of Upthrust Esports?
|2022 – 2023
Last month’s sales ₹33 Lakhs. The net profit was 30% ~ 35%.
Upthrust Esports has 5 revenue models. They are:
- Streaming Rights
- Organizing Events
- Brand Integrations
Which shark gave Upthrust Esports an offer?
As I mentioned previously, Anupam Mittal has a company in this industry so he has a lot of insights. He didn’t think this business was investable at this point. The business can become big, but it won’t be massive big that the investors would get their desired return back. That’s why he was out.
Namita Thapar was out because she didn’t have any expertise in the gaming industry.
Aman Gupta & Amit Jain were out.
Vineeta Singh was out because she didn’t know how to scale this business in the long run.
|Kartik Sabherwal & Vaibhav Kumar
|₹75 Lakhs for 3%
|Company Net Worth
What deal did Upthrust Esports get in Shark Tank India?
Even though it was a profitable company, Upthrust Esports didn’t get any deal in Shark Tank India.