What Happened to Urban Monkey After Shark Tank India?
Who is the Founder of Urban Monkey?
Yash Gangwal is the founder of Urban Monkey. He’s from Hong Kong. He came back to India 8 years ago. He was alone in India and he used to do skateboarding in his free time. He joined a group on Facebook called “Skateboarding in Mumbai”.
In that group, he talked with other people and realized there was a big gap in the industry where he could add value. He started selling caps as there was no dedicated player in the market who was selling caps and building a brand on them.
What is Urban Monkey?
Urban Monkey wants to build a community for the future. This is a streetwear label based in India. This brand started its journey in 2014.
Yash started the brand with bags, caps & wallets. Now they have more than 10+ categories under their belt. They sell drip products.
They don’t operate on any marketplaces. They just use their own website to sell their products.
The inventory of Urban Monkey always finishes. That’s why Yash wants to take Urban Monkey to the next level with the help of the sharks.
How much money did he ask for Urban Monkey?
He came to Shark Tank India seeking ₹1 Crore for 1% of the company. Which gives the company a valuation of ₹100 Crores.
Yash has many SKUs but the top 2 most selling items are caps and eyewear. Caps account for 40% & eyewear accounts for 30% of the business.
Previously Yash used to sell on marketplaces, but due to fluctuations, he decided to focus his entire energy on the Brand website.
What are the Annual Sales of Urban Monkey?
| Fiscal Year | Annual Sales |
| 2020 – 2021 | ₹3.4 Crores |
| 2021 – 2022 | ₹12 Crores (Projected) |
| 2022 – 2023 | ₹25 Crores (Projected) |
Urban Monkey Before Shark Tank India?
In the 2020 – 2021 fiscal year, Urban Monkey had a net profit of 15%, In the 2021 – 2022 fiscal year, this number is 25%.
Urban Monkey’s doing business for 8 years. The growth could be much higher. But because Yash used to do everything on his own for the first 3 years, he couldn’t scale the company that much.
Which shark gave Urban Monkey an offer?
Anupam Mittal was interested in the business. But when Yash said he’d introduce watches next year, Anupam’s interest went away. He thought Yash was making too many SKUs & he should focus on limited SKUs until the brand became big. He was out and didn’t give any offers.
Vineeta Singh was out because she wasn’t interested in the business.
Peyush Bansal offered ₹5 Crores for 50% of the business. But the offer came with a condition.
The condition is Urban Monkey has to limit its SKUs and they can only sell caps & eyewear. They have to drop everything else till the brand becomes a ₹100 Crores company.
Peyush promised he’ll make the revenue of the company ₹100 Crores within 3 years.
| Offer 1 | Offer 2 |
| Peyush Bansal – ₹5 Crores for 50% | Aman Gupta & Ashneer Grover – ₹1 Crore for 10% |
Aman Gupta & Ashneer Grover gave the 2nd offer. They offered ₹1 Crore for 10% of the company. Hearing this Peyush Bansal matched their offer.
Yash gave a counteroffer of ₹1 Crore for 1.53%.
| Company Name | Urban Monkey |
| Founder | Yash Gangwal |
| Asked Amount | ₹1 Crore for 1% |
| Net Profit | 25% |
| Final Deal | No Deal |
| Shark | No Shark |
| Company Net Worth | ₹100 Crores |
| Company Website | www.urbanmonkey.com |
| Company Status | In Business |
What deal did Urban Monkey get in Shark Tank India?
Sharks didn’t agree with this valuation. And just like that no deal happened.
