Shark Tank India, a popular reality show on Sony Television, has begun filming for its fourth season. The show returns with some familiar faces, including Anupam Mittal of People Group, Aman Gupta of boAt Lifestyle, Namita Thapar of Emcure Pharmaceuticals, Peyush Bansal of Lenskart, and Ritesh Agarwal of OYO. However, one notable figure missing from this season's lineup is Deepinder Goyal, CEO of Zomato.
Goyal, who made his debut as a Shark in Season 3, will not be returning for the new season. His absence, it turns out, is due to Swiggy’s sponsorship of the show, which reportedly demanded his removal from the cast.
Swiggy's Sponsorship and Goyal’s Exit
According to reports, Swiggy, the food and grocery delivery giant, is the new sponsor of Shark Tank India for an estimated sum of ₹25 crore. However, the sponsorship came with a clause: Goyal, CEO of their direct rival Zomato, would not return as an investor on the show.
Deepinder Goyal addressed the situation at the ET Startup Awards, where he confirmed the details. "I just went there to set a different narrative, be real, and change how people perceive how a startup should be built," he explained. Reflecting on his time on the show, Goyal said, "I felt it was my moral obligation to go there once... but I, unfortunately, can’t go back because Swiggy sponsored Shark Tank this time and kicked me out, at least that’s what I heard.”
Rising Competition Between Swiggy and Zomato
Swiggy's move to remove Goyal from Shark Tank adds another layer to the intensifying rivalry between the two companies. Both Swiggy and Zomato dominate India's food delivery and quick commerce sectors, but their competition has grown increasingly fierce over time. While Swiggy and Zomato were initially evenly placed, recent reports suggest that Zomato has pulled ahead, widening the gap.
Despite the rivalry, neither Swiggy nor Zomato has officially commented on the specific sponsorship arrangement or Goyal's exit from the show.
Swiggy's IPO and Future Growth
Swiggy is gearing up for its Initial Public Offering (IPO), which is expected to further fuel the competition between the two companies. The company filed an updated Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 26, detailing its plans for the IPO. Swiggy aims to raise a fresh issue of ₹3,750 crore, with the offer for sale (OFS) comprising 18.53 crore shares.
In an extraordinary general meeting held on October 3, Swiggy’s shareholders approved an increase in the fresh issue to ₹5,000 crore, with the additional ₹1,250 crore to be raised as needed. The OFS remains unchanged.
Quick Commerce Growth
During the ET Startup Awards, Goyal also spoke about his desire to influence the startup culture through his short stint on Shark Tank India. He noted that the Indian startup landscape often prioritizes valuations and showmanship. Goyal aimed to counter this with a more grounded approach, which he brought to the show during a single weekend of filming.
On the business front, Goyal expressed his surprise at the rapid expansion of Zomato's quick commerce division. He noted that while the sector's growth had been unexpected, Zomato had embraced the challenge, and the company continues to evolve in response to industry shifts.
Goyal, who made his debut as a Shark in Season 3, will not be returning for the new season. His absence, it turns out, is due to Swiggy’s sponsorship of the show, which reportedly demanded his removal from the cast.
Swiggy's Sponsorship and Goyal’s Exit
According to reports, Swiggy, the food and grocery delivery giant, is the new sponsor of Shark Tank India for an estimated sum of ₹25 crore. However, the sponsorship came with a clause: Goyal, CEO of their direct rival Zomato, would not return as an investor on the show.
Deepinder Goyal addressed the situation at the ET Startup Awards, where he confirmed the details. "I just went there to set a different narrative, be real, and change how people perceive how a startup should be built," he explained. Reflecting on his time on the show, Goyal said, "I felt it was my moral obligation to go there once... but I, unfortunately, can’t go back because Swiggy sponsored Shark Tank this time and kicked me out, at least that’s what I heard.”
Rising Competition Between Swiggy and Zomato
Swiggy's move to remove Goyal from Shark Tank adds another layer to the intensifying rivalry between the two companies. Both Swiggy and Zomato dominate India's food delivery and quick commerce sectors, but their competition has grown increasingly fierce over time. While Swiggy and Zomato were initially evenly placed, recent reports suggest that Zomato has pulled ahead, widening the gap.
Despite the rivalry, neither Swiggy nor Zomato has officially commented on the specific sponsorship arrangement or Goyal's exit from the show.
Swiggy's IPO and Future Growth
Swiggy is gearing up for its Initial Public Offering (IPO), which is expected to further fuel the competition between the two companies. The company filed an updated Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 26, detailing its plans for the IPO. Swiggy aims to raise a fresh issue of ₹3,750 crore, with the offer for sale (OFS) comprising 18.53 crore shares.
In an extraordinary general meeting held on October 3, Swiggy’s shareholders approved an increase in the fresh issue to ₹5,000 crore, with the additional ₹1,250 crore to be raised as needed. The OFS remains unchanged.
Quick Commerce Growth
During the ET Startup Awards, Goyal also spoke about his desire to influence the startup culture through his short stint on Shark Tank India. He noted that the Indian startup landscape often prioritizes valuations and showmanship. Goyal aimed to counter this with a more grounded approach, which he brought to the show during a single weekend of filming.
On the business front, Goyal expressed his surprise at the rapid expansion of Zomato's quick commerce division. He noted that while the sector's growth had been unexpected, Zomato had embraced the challenge, and the company continues to evolve in response to industry shifts.
You may also like
Bizarre break-in: UK thief arrested after he cooks, cleans, washes and rearranges owner's clothes
Inside Wheeler Dealers Mike Brewer's life from marriage to 'tirade of abuse'
Chelsea lose patience with £58million star has Todd Boehly eyes up January deal
Crowd-sourcing data could help Philippines tackle deadly floods
