Shark Tank row: Sponsors mum over startups’ plight
Young entrepreneurs who participated in the popular reality show Shark Tank India last season of SonyLiv and ended up losing their Instagram ad and business accounts or their collaboration feature due to an alleged copyright infringement case slapped by Sony, glare at an uncertain future as sponsors of the show remain tightlipped over the entire issue. e4m has been covering the Shark Tank issue as it has affected the business of over two dozen startups. Season 3 was streamed on SonyLiv early this year and had India’s coveted unicorns as sponsors of the show. This includes ACKO, the co-presenting partner and PokerBaazi and upGrad as the co-presenting sponsors. Besides, IDFC First Bank was the banking partner, and ICICI Direct was the partner sponsor. Despite repeated follow ups by e4m, brands remained tight-lipped over the crucial matter affecting the young entrepreneurs who participated in the show. Notably, their Instagram accounts are restricted with the collab feature being withheld since April impacting their business hugely. While representatives of PokerBaazi and UpGrad claimed their leaders were traveling and hence won’t be unavailable for comments for anytime soon, ACKO, IDFC First Bank and ICICI Direct didn’t revert, despite several emails. The copy will be updated if they respond. Interestingly, some of them are part of the show’s next season as well. Shark Tank India, an adaptation of a popular American show, is soon to be back with Season 4, promos for which have been aired recently. The registration process for the pitchers began last week. Ironically, the format of the show offers insights into the investment strategies and challenges of entrepreneurship in India. Vivek Krishna, former media professional and founder of Delhi-based Ayurvedic Men's Sexual Wellness brand, Sukham, echoes the sentiments. “Advertisers and publishers also have a responsibility to extend help to us, I feel! We spend major cash on their platforms and at the time of crisis we have been left to fend for ourselves.” “This is strange that sponsors of the show are silent about the treatment meted out to participants,” say entrepreneurs. Entrepreneurs also allege that Sony had been selective about the punishment. “Sharks have also posted stuff from the show, but no action taken against them. In contrast, we have been given a punishment that resulted in the crashing of our business. Such a harsh punishment is unfair for a charge like copyright violation.” Meta India office has maintained silence over the matter. Startups allege that Meta has not even given them the right to appeal against copyright violations charges pressed by Sony. “Our repeated pleas to Meta India didn’t yield any results which prompted some of us to approach Meta global headquarters in the US for respite. My own Insta accounts were restored when we approached Meta’s global office,” said a woman entrepreneur, requesting anonymity. Sony Pictures Network India and Meta’s response were awaited till the writing of these lines.
Tags : Vivek Krishna Instagram Sukham Shark Tank India Meta India