An app that wants to turn fear of stock markets into fun raises ₹75 lakh from sharks
Bullspreeis a stock market gaming platform that lets users participate in contests and win money by creating a portfolio of stocks.
- ‘Stock market ke fear ko fun me badalte hai,’ said co-founder Bavishi while inviting sharks to invest in the app.
Aman Gupta, co-founder of boAt and Peyush Bansal, CEO of Lenskart together made an offer for ₹75 lakh for 2.86% equity.
AdvertisementIt is not easy to earn money in the stock markets, mostly because very few people understand the nitty gritties of markets. An Ahmedabad-based startup Bullspree aims to educate people about market fundamentals through fun contests.
Bullspree is a stock market gaming platform that lets users participate in contests and win money by creating a portfolio of stocks and competing with other users.
Bullspree was co-founded by Harsh Dhanawat, Dharmil Bavishi, and Divyansh Mathur in November 2020. It is an experiential stock market gaming and learning mobile app that offers fun games about financial markets that can help users understand market dynamics better.
“Stock market ke fear ko fun me badalte hai,” said co-founder Bavishi while inviting sharks to invest in the application in the second edition of
The founders asked for ₹75 lakh investment from sharks for 1.5% equity at a valuation of ₹50 crore.
Most sharks declined to invest in Bullspree on risky business nature
While the presentation by the founders of the stock gaming platform impressed sharks, they refused to invest in the startup because of its risky nature of the business.
“Basically, we are an experiential learning platform jisse app well versed hote ho aur confidence build karte ho,” Bavishi responded.
Sharks highlighted that their competitor StockGro is in a similar line of business. That may hamper the potential market share and growth in the future.
AdvertisementThe startup said that it generated sales to the tune of ₹18.5 lakh with a gross transaction value of ₹90 lakh, in recent months. On a monthly basis, the company has been growing 100% as it tied up with colleges.
Average revenue per paid user of the company has increased to ₹322 from ₹21 earlier, says Dhanawat on the reality show. Thapar declined to make an offer by saying there is no unique differentiator that Bullspree offers, as compared to its competitors.
At the end, Aman Gupta, co-founder of boAt and Peyush Bansal, CEO of Lenskart together made an offer for ₹75 lakh for 2.86% equity at ₹26.22 crore valuation. The offer was accepted by the founders.
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