Shark Tank: Days after Anupam Mittal’s jibe at Aman Gupta for ‘not having a job’, boAt CMO reveals why he quit

Aman Gupta in Shark Tank India. (Photo: SonyLIV)

Shark Tank India is back with its fifth season and so are the jibes and digs that ‘sharks’ often take at each other, often leading to much discussion on and off the show. The new season made similar news quite early when Shaadi.com founder Anupam Mittal told boAt co-founder in the tank that he should not question his ventures when he doesn’t even have a job anymore. Aman recently stepped down as the Chief Marketing Officer (CMO) of boAt. In a recent interview, he has opened up about the reasons behind his decision, saying the move had been under discussion for quite some time and that stepping away before the company’s IPO was the most ethical choice, primarily keeping investors’ trust in mind.

Speaking to Pinkvilla, the boAt co-founder explained that the decision was part of a long-term plan to professionalise the organisation. “It was not a decision which was made today. Today, you see we are professionalising a company. About three years ago, we brought in an external CEO to run the company. Gaurav Nayyar had joined as COO and is now the CEO. We believe it is high time that professionally run management takes over. That’s our belief—that the company can now be run much better by professionals than by me, and that’s the decision I took,” Aman said.

He further elaborated that his continued presence in an executive role could create confusion within the organisation. “Another reason is that I am a strong founder. When a strong founder still works in the system, employees feel there are many bosses in the company. I want Gaurav to run the company as if there is only one boss—and that’s him. He reports to the board. I am still a board member. Sameer and I still own more than 40% of the company, so we remain large shareholders,” he added.

Aman noted that over the past years, the founders had taken boAt to a certain level and now believed it was time for professionals to lead the next phase of growth.

Explaining why the move was timed just ahead of the IPO, Aman said, “Imagine if I had stepped down after the IPO. That wouldn’t have been fair to retail investors. They would feel cheated if they invested believing that Aman Gupta was running the company and suddenly someone else took over. That’s not fair, and that’s not me. Hence, I stepped down first so people invest their hard-earned money knowing the reality.”

While Aman did not reveal his future plans, his exit from an operational role has already sparked public reactions. Recently, Shark Tank India co-judge Anupam Mittal took a jibe at him during a pitch. When Aman questioned Anupam about some of his ventures shutting down, Anupam retorted, “Bhai teri toh naukri hi nahi bachi yaar (Brother, you don’t even have a job anymore).”

Around 29 days before boAt’s public listing, both founders—Aman Gupta and Sameer Mehta—stepped down from their roles. Aman transitioned into a non-executive director role, while Sameer moved into the position of executive director focused on long-term growth. Gaurav Nayyar, who had joined boAt as COO three years ago, was promoted to CEO and Managing Director.

With this transition, Aman no longer holds any operational responsibilities at the company. He had served as boAt’s Chief Marketing Officer since its early days and played a key role in shaping the brand.

In April, electronic brand boAt—best known for its headphones and smartwatches—filed for an IPO, which has since been approved by SEBI. The Warburg Pincus-backed company is targeting a valuation of around Rs 13,000 crore.

boAt was founded in 2013 by Aman Gupta and Sameer Mehta.