Major Anil Kumar Malik is a retired army officer who presents his business idea on Shark Tank Season 3. He took part in several army operations like the Kargil War as well. He wants to serve his products to the army men protecting the borders. We will share details about Spec Ops’ gear brand and product below. Everyone is eager to know how he secures a deal. As we all know, he presented his business with full confidence. Let us explore more about Spec Ops Founder life below.
Spec Ops’ Founder Shark Tank Season 3 Success Journey
Spec Ops’ Founder Major Anil Kumar Malik lived his life as an army man. However, he enters business after his retirement. He realized that the United States Army men have more facilities and gear. However, Indian soldiers don’t have it enough. Thus, he started his brand Spec Ops which completed the basic needs of the soldiers at the border. It provides lycra fiber clothes that are stretchable and suitable for the soldier during their operation. It also provides several pockets, that help the soldier to manage their tools and equipment easily.
Spec Ops Founder asks for Rs. 80 Lakhs for 2% equity in the company at Rs. 40 Crores valuation. The sharks liked his pitch. Aman Gupta also appreciates him for his hard work and efforts. Spec Ops founder started some time ago but had good sales overall. He gets a deal from the sharks Aman Gupta and Amit Jain for Rs. 40 lakhs for 2% equity and debt of Rs. 40 lakhs for 12% interest for two years. It is half of the valuation he offered to sharks. However, the deal closed on the same offer. Before this offer, Shark Aman Gupta offered a valuation of Rs. 15 Crore, which the founder feels was less than expected.
The company has impressive numbers in the current and previous years as well. Specs Ops did a sale of Rs. 6.2 crores in the previous year. Currently, the company expects a revenue of Rs. 8.5 crore. Thus, the numbers are increasing continuously. Both the sharks are happy with the deal. Everyone appreciated him for his efforts in serving the country. Shark Tank Season 3 has several successful businesses. Many had an increase in their sales after their pitch on Shark Tank. Brands like Koparo and Adil Qadri are doing wonders. The brand can help army officers to work with more comfort compared to the current equipment. We will update you shortly about other shark tank stories later.