• Shark Aman Gupta and Piyush Bansal gave BULLSPREE their dream deal
Ahmedabad, 28th January-2023: In May 2022, BULLSPREE applied for Shark Tank India. They were given one and a half days to prepare and and appear for audition in Mumbai at 10 am. Despite facing challenge of submitting ample of documents in short time, company managed to submit the form at 11:50 on the last day. On 3rd August 2022, the company was informed that they were first to be shortlisted for Shark Tank India. They had a detailed session with the Shark Tank team over video call and then they were asked to go to Mumbai for a mock session. The company cleared initial screening and entered second round. BULLSPREE was founded in November 2020 by Dharmil Bavishi, Divyansha Mathur and Harsh Dhanwat. On the day of the shoot, their pitch was well prepared and well rehearsed. He spoke with confidence and the sharks liked his idea, understood importance of aggresive approach to the stock market and the potential to help the common man realize his dreams. Sharks, Aman Gupta and Piyush Bansal gave BULLSPREE their dream deal. If you look at the numbers, it was selected from over 2 lakh applications that were narrowed down to 5000 at second level, and out of that, only 1000 were auditioned, and out of that 1000, only 150 pitched their brand to Sharks. Story of Dharmil, Harsh and Divyansh is about long friendship and shared their interest in a common subject. They all had an interest in the market, they had separate professional accomplishments before they decided to join forces for BULLSPREE Applications. Dharmil and Harsh were roommates in Mumbai, and had been mulling over the idea for some time, when the former was introduced to Divyansh through Jagurti Yatra, a nationwide train journey involving 500 adventurous individuals selected from a pool of 50000. Applicant Divyansh, through his higher education at IIT Delhi, was heavily involved in socially relevant entrepreneurial ventures, and worked on products related to Smart Homes, Green Energy, Menstrual Hygiene, etc. He quickly agreed to join the initiative, working on Project vision and mission statement, and eventually became the co-founder of Final Product. Dharmil has extensive managerial experience, having obtained an MBA from Masters Union and worked at Infibeam where he was promoted to the CEO’s post within months of joining due to his efficiency. Due to his growing popularity, he chose to divert to fintech sector. He was also personally interested in driving more effective investment education in the country, as his family had once suffered a bad stock investment, losing over Rs 25 lakh in the blink of an eye. Divyansh suffered a similar fate during his college years, when he lost Rs 1 lakh in a single trading session in the stock market. Thus they both knew that they not only had a viable market to operate in, but also a leading service to provide.
Being a Chartered Accountant by profession, with over six years of experience in the field, Harsh quickly gauged the product’s viability. His experience as a number cruncher made Harsh a valuable asset to the team as an overseer of systems and products. Dharmil focused on growth, marketing and brand building, while Divyansh tried to use his previous connections to raise funds and has since brought big names to the BULLSPREE cap table. Their joint labors bore fruit in a minimum viable product launched in 2021.
Revenue Model: BULLSPREE App, although started with philanthropic intentions, is still a business, and the founders have chosen an interesting way to monetize it. Participation in the games is done through an App specific coins that can be purchased by users to purchase stocks for the portfolio. In addition to in-app purchases, there is also a platform fee that is charged to users based on the total amount of transactions from their accounts. Along with funding operations, this coin-based participatory model acts as a controlled recreation of the actual stake involved in the real stock market. Going forward, the three founders plan to introduce a subscription-based service that will allow users to access advanced features on the application, as well as perform exclusive analytics to improve their market performance. This is currently in the beta testing stage, with many other expansion plans.
Investment Games: According to Harsh Dhanwat, a person seeking experience in retail investing first needs to create an account on the platform, and after a quick KYC, which includes verification of one’s PAN card, the registration is complete. After that, one can put some money in the in-appwallet and start ‘investing’ in ‘stocks’ by participating in contests. However, there is a catch here. Users cannot directly use real money to invest in stocks. Instead, the deposited money is used for multiple live competitions within the App.
