By Monisha G Kumar Last Updated:
BharatPe co-founder, Ashneer Grover has been making headlines after his stint in the show, Shark Tank India season 1. Ashneer, who is a very well-known name in the world of business was quite popular for his unfiltered and blunt opinions. Ashneer's world came crashing down, when his company, BharatPe had alleged that he and his wife, Madhuri Jain had misused the company's funds.
Ashneer and Madhuri Jain were stripped from all the positions after an external audit revealed their financial misdeeds. It is stated that the duo had led a lavish lifestyle and often used the company's funds for the same. From upgrading their house for a rented penthouse to buying luxurious articles, Ashneer and Madhuri are hitting the headlines every now and then.
Ashneer Grover was recently invited for a lecture at Lovely Professional University, where he spoke about his experience of working in the show, Shark Tank India. He made many shocking revelations about the show and the amount of money each Shark had invested in it. He also revealed that the audition for the show took place at his home.
Revealing how none of the Sharks went into the show with the intention of making money and instead had invested a hefty amount, Ashneer stated:
"None of us went with the intention of making money. Let me tell you the truth, none of us made any money from the show. Some people said that we made Rs. 10 lakh per episode, but I’d have been happy with even Rs. 5 lakh. The concept of the show is very simple; they believe we have money, and they felt that we all have high-value startups, we’d be able to invest some money on the show. So, they asked us to commit to spending Rs. 10 crores each on the show. We said okay. We weren’t paid anything for any episode; in fact, we worked like bonded labour for hours and hours.”
Asheeer also talked about his co-judges and revealed that Vineeta Singh, (CEO and co-founder of SUGAR Cosmetics) was his junior in IIM and the two would exchange flirtatious glances. In his words:
"I knew Anupam from before. I’d pitched him an idea once, and in the month that he took to get back to me, I accepted somebody else’s investment, so I ended up saying no to him. Vineeta was my junior in IIM; we never spoke but had exchanged flirtatious glances. She was one of those ‘hot juniors’. Aman is a great guy, our ‘auditions’ for the show were held together at my place. Peyush everybody knew from Lenskart, and Namita I met for the first time on the show."
Ashneer had co-founded BharatPe in 2018 and had also invested in many start-ups. As per a report in Bloomberg, Ashneer and his wife, Madhuri's lifestyle had come under the radar after the couple had upgraded their house for a rented penthouse. The report further stated that Ashneer told the employees in the company that he had spent 130,000 dollars for a dining table, which when converted into Indian currency comes to Rs. 1 crore.
Are you also shocked by Ashneer's revelation? Let us know.