The Ahmedabad-based startup reached a new height when it presented its brand in front of renowned businessmen aka Sharks in Shark Tank India in season 2. The sharks were fascinated with their business idea and Boat Co-Founder Aman Gupta and Lenskart CEO Peyush Bansal gave Bullspree the deal of their dreams of Rs 75 lakhs for 2.8% of the equity in their company.
Bullspree is a mobile app for learning about and experiencing the stock market. It provides a broad variety of entertaining games in the area of financial markets that can assist users in improving their financial acumen in a pleasant and profitable way.
The company believes that when a user uses the app, the rush of adrenaline connected to participating in the actual market is maintained. By engaging in games, trading, and collecting rewards while learning about investments in an entertaining way using actual market movements. Members of Bullspree can create their own portfolios and engage in competition with other Bullspree users.
Vibes of India had the opportunity to conduct an exclusive interview of the bulls of the Bullspree – Harsh Dhanawat (Co-Founder), Dharmil Bavishi (Co-Founder), and Divyansh Mathur (Co-Founder). In the conversation, they elaborated on the journey of reaching the national platform.
Bullspree submitted a Shark Tank India application in May 2022. They had one and a half days to prepare before performing an audition in Mumbai on Monday. Despite having to submit a large number of papers in a limited amount of time, the business was able to complete the form on the final day. The business learned that they were the first to be shortlisted for Shark Tank India on August 3rd, 2022.
After a lengthy video conversation with the Shark Tank staff, they were requested to travel to Mumbai for a practice session. The business advanced to the second round after passing the initial screening. In November 2020, Dharmil Bavishi, Divyansh Mathur, and Harsh Dhanwat established Bullspree.
Their pitch was perfected and well-rehearsed on the day of the filming. They boldly pitched, and the Sharks were enthralled by their concept. They recognised the value of a gamified approach to the stock market and the potential it had to enable the average man to realise his ambitions. Aman Gupta, Peyush Bansal, and the Sharks offered Bullspree the deal of their dreams. They were selected from more than 2 lac applications, which were then narrowed down to 5000 in the second stage. Only 1000 of these candidates attended the auditions, and only 150 of these candidates presented their brand to the Sharks.
Responding to a question, Harsh said, “We want to create a healthy and winning environment in the stock market through our app. After 6 months of research, we want to teach people about the stock market with small bets in our gamified app.”
“We have also utilised our savings in the initial 9 months of the app journey. Around 30,000 users were using the app. After this, we went to gain investment in our app. In Shark Tank India, we were confident and we wanted to include sharks in our journey by nailing the opportunity.”
In-app purchases will likely be available within the next three months, according to the startup. The ability to mid-swap will be one of the most significant options made available for an in-app payment, providing customers access to intra-day trading. Bullspree plans to provide a subscription plan in addition to mid-swap, which will be a pure-play revenue stream.
“Right now, we give premium macroeconomic trends. We give insights on what went wrong, and how exactly it works on our Telegram groups. We want to monetise this by introducing a subscription plan,” Mathur said. The triumvirate of business owners exudes confidence. They have enormous ambitions for the future and are quite ambitious. In the following five years, they want to increase the 4% of investors to 30%. They plan to combine their membership business with a levelling system to carry out this ambition. It will be beneficial to monitor player development and performance over time. As a result, the participants will be more engaged with the visible indicator of growth.
Bavishi explained the startup’s guiding principle by stating that the retail investment sector must exponentially grow if the nation’s GDP is to increase. To do this, it is necessary to instil the culture of investing as soon as a person is qualified to do so.
Also Read: Nicole Kidman To Star In HBO Show ‘The Perfect Nanny’
