EventBeep
Initial Ask – Rs. 30 lakhs for 2% equity at a valuation of Rs. 15 Cr.
About the Company
Aiming to digitise the college premises in totality, EventBeep understands the importance of associations with various communities for one’s industrial and practical growth. Thus, this company wants to bring out same college experience for all the students out there. Their revenue model consists of 4 different ways of monetisation: charge colleges for digitising their premises, charging brands for advertisement on their app, charging commission from ed-tech courses and charging commissions from communities’ event, seminars and workshops tickets.
Having built a community of 60k students, they record an average engagement time of 20 minutes by their users. Daily activity of 1800 students and that of 9000 students on a monthly basis is shown as per their metrics. These numbers are justified by their revenue, discussed in the next section.
Past performance of the Company
The company generated a revenue of Rs. 65 lacs in first six months of the financial year 2021-22. These numbers are supported by the fact that there has been an addition of 10,000 students in their community.
Industry Overview
Increasing internet penetration with an expected rate of 55% at the end of year 2025 has made digitisation of the education sector one of the topmost priority in the country. The government is acting way too seriously to bring about digitisation in the education sector. This definitely provides an upper edge to the company.
However, the major aim of the company is to build inclusive communities for all college students, thus making possible the same experience for all the students. Companies like Dare2Compete, Frenclub Mobile is trying to achieve the same goal, like that of EventBeep. Having a large audience to cater with the growing needs to be ahead of the competitive world, these companies are sure to flourish.
Offers made, and the one accepted:
1. Ashneer Grover was the first one to make an offer of Rs. 30 lacs for 2% equity of their company, just as asked by them. He also proposed to invest an additional of Rs. 10 lacs for secondary shares of the female protagonist here, Rakhi in exchange of 0,5% of her equity.
2. Peyush Bansal joined the club by offering them as per their ask.
3. Aman Gupta did the same, offered Rs. 30 lacs for 2% equity of the company.
Overwhelmed by the offers, the team countered by asking for Rs. 40 lacs investment for 3% equity of the company.
4. To this, the above mentioned sharks offered to come together by offering Rs. 30 lacs for 3% equity. The deal was closed here.