Primebook is an innovative brand made in India that sells laptops along with its own Operating System, PrimeOS.
Chitranshu Mahant (CEO) and Aman Verma (co-founder and COO) were roommates from IIT Delhi, who came up with this fantastic idea that every student must have a laptop of their own. They were later joined by Umang Leekha and Pankaj Rawat.
And together, they worked towards creating Student laptops that are not only user-friendly but also quite cheap.
More About Primebook
Chitranshu Mahant, along with his team, appeared in Shark Tank India Season 2 Episode 11 with their laptops. The business was in operation for two months prior to its appearance on Shark Tank.
Even though the company was a very new launch in the market, they had already sold their OS to almost 140+ countries globally and have achieved 30 lakhs+ downloads.
The company’s vision aligns with its USPs as well. With Primebook, a user gets access to the Android App ecosystem, which is otherwise not possible in a laptop with Windows or Mac OS. The price-to-performance ratio is also quite commendable for the Primebook they have launched. You get a great student-friendly laptop at only 15,000 INR.
In their PrimeOS app store, they have more than 10 000 apps that are student-friendly, and they can download and access any of them anytime.
The unique features of the Primebook include-
- Laptop is 4G enabled
- Comes with an 11.6’ HD screen
- 12 hours battery life
- 4GB RAM
- 64 GB internal storage that you can expand up to 200 GB.
- 4G SIM connectivity
Primebook Shark Tank Pitch and Updates
The team of Primebook appeared on Shark Tank India Season 2 Episode 11 and demanded INR 75 lakhs for a 1.5% equity at a valuation of 50 crores.
After the initial pitch, Vineeta asked them about their competitive strategy stating that if JIO brought their laptop, they would not be able to survive.
To this, Chitranshu gave a very detailed answer which included Primebook partnering with a telecom company that is a direct competitor of JIO. They also mentioned that they would raise enough capital and develop a network effect to defeat any big players in the market.
After this, Aman was curious if they could bring down the laptop’s price. To this question, the CEO replied that they are running an affiliate program. Under this program, businesses and students promote their laptops and OS along with the company.
Aman was the first to make an offer of INR 75 lakhs at 4% equity at a valuation of INR 18.75 crore. Vineeta offered them the same amount but at 3% equity at a valuation of INR 25 crore.
Peyush made the same offer as Aman. While Anupam also offered them INR 75 lakhs for 3% stake. Namita felt the pricing could be an issue and decided to get out of the deal.
Chitranshu countered with INR 75 lakhs for 2.5% equity at a valuation of INR 30 crore. Peyush and Aman agreed individually for 2.5%. But they demanded 3% if pitchers wanted both of them.
|Founders||Chitranshu Mahant, Aman Verma, Umang Leekha, and Pankaj Rawat|
|Business||Android-Based Affordable Laptops|
|Shark Tank Episode||Season 2 – Episode 11|
|Asked For||INR 75 lakhs for 1.5% equity|
|Deal||Closed at INR 75 lakhs for 3%|
|Sharks Invested||Aman Gupta & Peyush Bansal|
|Valuation Given||INR 25 crores|
Primebook got a deal of INR 75 lakhs for 3% equity from Aman Gupta and Peyush Bansal at a valuation of INR 25 crore.
Frequently Asked Questions About Primebook
After their appearance on Shark Tank India Season 2, people were trying to find more information about Primebook. Here are some of the frequently asked questions about them.
1. Who Is The Founder of Primebook?
The company is managed by 4 people, Chitranshu Mahant, Aman Verma, Umang Leekha, and Pankaj Rawat.
2. Is Primebook profitable?
Primebook is a newly launched company, but they are already making some profits.
3. Why other Sharks did not invest in Primebook?
Namita was not convinced about their price point. Pitchers did not go with the offer of Vineeta and Anupam.
4. What happened to Primebook after Shark Tank?
Primebook got a deal of INR 75 lakhs from Aman Gupta and Peyush Bansal. Peyush told them that Aman would help with the hardware, and Peyush would help with the software.
In an interview conducted after the episode aired, the CEO confirmed that they had seen significant growth in their business, especially after the episode went live.