Shark Tank Pakistan participant accuses investors of ghosting and scam after securing deal

As Shark Tank made its highly anticipated debut in Pakistan, allegations of unfulfilled commitments and investors' misconduct marred the reputation of the entrepreneurial reality show. One participant even accused investors of ghosting him after finalising a deal.

The participant, Mani, who pitched a startup focused on stuffed toys, appeared on Shark Tank Pakistan in September last year. He successfully secured a deal of PKR 5 million in exchange for 22% equity, offered collectively by three investors on the show.

Mani shared his experience on Instagram, posting a video clip from his pitch and a detailed account of what happened afterward. He stated that although initial communication with the investors seemed promising, things quickly went downhill.

“It felt like the start of a dream,” he wrote, but what followed was incredibly disappointing and wasted a lot of my time.”

Read: Pakistan’s Shark Tank deal worth Rs1.5 billion breaks global record

According to Mani, he was added to a WhatsApp group chat with the three investors shortly after filming. A follow-up meeting was held in October, where they discussed growth plans, but funding was never brought up.

“Despite completing all assigned research and submitting over 40 verified documents for due diligence, I received no response. My follow-ups were ignored, and meetings lacked proper attendance, stalling any real progress,” he said.

Over time, two of the investors cut off all contact. In December, the third investor allegedly reached out to Mani and accused the other two of backing out of the deal, assuring him that he would continue the investment independently.

However, Mani claimed that this investor also eventually stopped responding.

Following the conclusion of the show's first season, several other participants raised similar concerns, citing lack of follow-through, delayed communication, and unfulfilled financial commitments from the investors.

In response to the growing criticism, some of the investors denied the allegations, claiming that in many cases, the promised investments were delivered. However, they admitted that in situations involving multiple investors, deals sometimes collapsed when one or more parties withdrew their commitments.