Explained: Who is Ganesh Balakrishnan, the man who turned down the offer from Shark Tank India?

Shark Tank India is currently streaming on SonyLIV and enjoying massive popularity. The one pitcher that caught everyone’s attention was Ganesh Balakrishnan, the founder of Flatheads. The entrepreneur was a hot property at the ongoing show but he had his reasons of turning the lucrative offer by Shark Tank India down.

Who is Ganesh and what is Flatheads?

Balakrishnan is an  IIT-IIM alumni and the founder of Flatheads, a shoe brand made of breathable fibers. He spoke about the fact that this was a loss-making business, leaving the judges and viewers mighty impressed. His indefatigable thirst for making a loss making business into a profit making one received great response.

His LinkedIn post

The man shared a LinkedIn post and thanked Shark Tank India and the Sharks- Anupam Mittal, Vineeta Singh, Peyush Bansal, Namita Thapar, and Aman Gupta. He wrote- “We’ve almost sold out our inventory in India, so pardon us if you aren’t able to find your size on www.flatheads.in. Would be amazing if you can tell your friends in the US and UAE to try our shoes.” His another post wrote- “After the Shark Tank India episode aired on Friday, there has been an unbelievable wave of compassion and support across the country. And along with that, we’ve received record traffic on our Flatheads website, all organic! I’m super excited to share that we’ve sold out our limited remaining quantity of shoes in 2 days flat! And for the first time ever, our CAC was Zero! (sharks please note).”

An offer he refused

He got an offer from Anupam Mittal, founder of Shaadi.com and People Group, and Vineeta Singh, Founder of Sugar Cosmetics, and Peyush Bansal, Founder of Lenskart. In trying to convince Balakrishnan, boAt founder Aman Gupta told him, “There’s no shame in looking for a job. When my businesses didn’t work, I took up a job, saved money, and came up with a new business.”

Balakrishnan said that he would take a job, save money and come back stronger with his shoe business.

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