Six months ago, a passionate young entrepreneur, Abdul Rehman, appeared on Shark Tank Pakistan with his stuffed toy startup Stuffeez.pk. His passion wowed many, including the panel of investors.
The investors offered him a deal of PKR 5 million for 22% equity in his business. This was promised to uplift his startup, which began from his drawing room when he was a 12th-grade student.
Rehman’s rise had the makings of a genuine underdog story, until it wasn’t. Months after his appearance, an unfortunate truth has come into light.
Shark Tank Pakistan Reportedly Scammed Stuffeez Owner
In an Instagram post, Abdul Rehman revealed that the investors featured on Shark Tank Pakistan failed to hold up their end of the bargain, derailing the growth of his startup.
Growth plans were discussed initially, but there was no discussion on funding. Rehman’s diligence and hard work were met with silence as the investors ignored follow-ups. This derailed much progress.
In December 2024, one investor privately contacted the Stuffeez owner with the promise of proceeding with the initial agreement alone. However, he eventually stopped communication, effectively disregarding the initial deal with Rehman.
Rehman publicly called out the investors for their disrespectful behaviour, but remained adamant about growing his brand all by himself.
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Abdul Rehman May Not Be The Only Victim
The idea behind Shark Tank Pakistan was that a group of seasoned veterans, called Sharks. These Sharks would sink their teeth into emerging businesses by investing in startups led by entrepreneurs who did not have a definitive source of funding.
Unfortunately, the show has turned out to be a major reality check for the young minds of Pakistan. Abdul Rehman’s story follows a string of accusations by founders that the Sharks had ghosted them.
It appears as if very few of the investments closed, drawing attention to the credibility of the concept. There is no official confirmation of the reports, with the investors remaining silent for the most part.
Shark Tank Pakistan has been renewed for a second season, but if the allegations are proven true, the show may have a difficult time surviving the spotlight and achieving trust from young entrepreneurs.
Stay tuned to Bransynario for further updates.