DEYOR helps you book your entire holiday end-to-end. It is a Whatsapp-verified travel chatbot program where you can make holiday bookings and discovery in three simple steps.
Step 1 – Interact with the chatbot and answer simple questions about your plans.
Step 2 – Get a personalized itinerary from a destination expert via WhatsApp and emails.
Step 3 – Customize and book your holiday.
More About DEYOR
The India outbound holiday market size is INR 3 lakh crore. DEYOR envisions becoming the market leader in this space by implementing the latest technology and redefining travel in India.
Both Himanshu and Chirag are B.Com Honours from Delhi University. Chirag worked with an early-stage investment firm and met 600-650 entrepreneurs. He was fourth in Forbes 30 under 30 list of Asia in 2019. The St.Gallen University of Switzerland also invited him as a Leader of Tomorrow.
In 2016, they started as a campsite aggregator company. They realized the business wasn’t sustainable due to high customer acquisition costs. In 2019, they decided to turn their venture into India outbound. Deyor currently has 21 destination experts and serves holiday experiences in more than 15 countries today.
When you are on the trip, DEYOR creates a WhatsApp group where all their locations and destination partners are added. The group remains active 24/7 to resolve all your tip-related issues promptly. DEYOR was launched in 2016 and serves holiday experiences in more than 15 countries today.
DEYOR Shark Tank Pitch and Updates
Himanshu Agarwal & Chirag Gupta appeared on Shark Tank India Season 2 Episode 32 seeking INR 1 crore for 1% equity at a valuation of INR 100 crore.
Sharks did not look too impressed with their business idea initially. Peyush questioned what they are doing differently than big sites like MakeMyTrip, Goibibo, Tripadvisor, and Cleartrip. Himanshu replied that none of them provides an end-to-end holiday package customized for you.
Aman called them a travel agency specialized in personalized tours. However, they called themselves a travel package business where you can book any type of holiday package.
They demonstrated their tech to the shark and claimed that it increased their conversion rates from 0.6% to 4.6%. The tech is a WhatsApp chatbot available on their official website. You can click on the WhatsApp icon, which will redirect you to your WhatsApp for further details.
They had raised INR 6.5 crore by the time they appeared on Shark Tank India. They raised INR 1.6 crore between 2021-22 (INR 50 crore floor and INR 70 crore cap). Himanshu and Chirag hold 70% equity, while investor dilution is 30%.
The total transactions on their platform the month, before they appeared on the show, were INR 1.75 crore. For Q1, their total sales were INR 4.4 crore. Their markup is 25%. They’ve also been profitable in the previous two quarters, and their net profit is 5%. They are projected to close 2022-23 at INR 24 crore in sales.
Peyush was the first to drop out as he couldn’t understand their business. He felt there was no consumer problem in their business. He couldn’t understand their vision or purpose. Vineeta also agreed with Peyush. She felt there was no tech and only those agents were doing the work, similar to a travel agency. Therefore, she also got out of the deal.
Namita presented some good points too. She explained to Himanshu and Chirag that she could customize her package even on sites like MakeMyTrip. So, what was the difference with DEYOR? And secondly, she believed they must have a big differentiator that they didn’t have. And she also got out of the deal for those reasons.
Aman didn’t like Chirag’s attitude in explaining his accolades of ‘Forbes 30 under 30’ and receiving an award in Switzerland. Namita instantly tried to stop him, but Aman got furious and asked her to let him talk. He said awards don’t make a difference. Just focus on your business and customers. Anupam asked Aman if he was out, and he nodded.
Chirag tried to say something, but Aman refused to listen. Anupam offered his perspective. He told them that most people enjoy planning holidays. Therefore, this sector will always have offline agencies helping people plan the holidays.
Automating it will take the fun out. Second, he felt whenever you go to a place, you do the exact 4-5 things. Though, he felt there was an opportunity of expanding the agency with technology. They can hire 100 people, and their agency would generate INR 10 crore profit annually.
But he believed it was not investible, and that’s why he also got out of the deal.
DEYOR Shark Tank Sharks Fight
Once all sharks are out, Anupam said that, hopefully, Himanshu and Chirag learned something new. Namita quickly told them not to take the feedback on awards from Aman. She believed there’s nothing wrong in telling you won awards, as self-marketing is also essential.
But Anupam chimed in and asked them not to define themselves with awards only. Anupam felt what you build defines you. Namita felt both are significant in their own rights.
As Himanshu and Chirag left, Anupam told Namita to give them an award. To which Namita replied she wouldn’t mind. She also called out Aman for posting pictures of awards on his Instagram. Vineeta joined the other sharks and told Namita that sequence is essential.
However, Namita told them that any time someone mentions an award, all the sharks run down that person.
In the end, Namita shouted that no one would post any award on Insta moving forward.
|Founders||Himanshu Agarwal & Chirag Gupta|
|Business||Whatsapp-verified travel chatbot|
|Profitability||Business is profitable|
|Shark Tank Episode||Season 2 – Episode 32|
|Asked For||INR 1 crore for a 1% equity|
DEYOR did not get a deal on Shark Tank India.
Frequently Asked Questions About DEYOR
After their appearance on Shark Tank India Season 2, people were trying to find more information about DEYOR. Here are some of the frequently asked questions about them.
1. Who Are The Founders of DEYOR?
Himanshu Agarwal & Chirag Gupta are the founders of DEYOR.
2. Is DEYOR profitable?
DEYOR is profitable, with a net profit of 5%.
3. Why other Sharks did not invest in DEYOR?
Peyush couldn’t understand their business and felt it was just like an offline travel agency. Vineeta agreed with him and got out for the same reason.
Namita pointed out that they did not have a big differentiator from other big sites in the sector. Aman got out of the deal because Chirag mentioned his awards which led to an altercation with Namita at the end. Anupam felt the business was not investible.
4. What happened to DEYOR after Shark Tank?
DEYOR did not get a deal on Shark Tank India Season 2. After the episode was aired, many netizens extended their support to pitchers and slammed Aman Gupta for his remark on Chirag’s awards.