As Shark Tank India gears up for its fourth season, controversy has erupted. Zomato CEO Deepinder Goyal alleges that Swiggy fired him from the show.
Yet another edition of the hit business reality television series Shark Tank India is set to arrive soon, with filming having commenced a few days ago and judges Anupam Mittal, Namita Thapar, Aman Gupta, Ritesh Agarwal and Peyush Bansal are all making a comeback. Since its debut in 2021, the show has captivated audiences by featuring entrepreneurs pitching their business ideas to a group of investors who decide whether to invest in their company. As the show gears up for its fourth season, controversy has erupted with Deepinder Goyal, founder and CEO of the restaurant aggregator and food delivery company Zomato, will not be returning because Swiggy, one of Zomato’s rivals, is going to be a key sponsor of Season 4. Deepinder said he was “kicked out” of the show because “Swiggy sponsored Shark Tank.”
“The startup culture of India is too much about showmanship. I went there (on Shark Tank India) to set a different narrative, be real and change how people perceive. I felt a moral obligation to go there. I shot for one weekend and gave my perspective. I, unfortunately, can’t go back because Swiggy sponsored Shark Tank and kicked me out, at least that’s what I heard,” he said at the ET Startup Awards, Hindustan Times reported.
Swiggy, meanwhile, is reportedly close to finalising a Rs 25 crore sponsorship deal for Season 4 of the show. According to sources, the deal includes a clause demanding Goyal’s departure from the panel. If the report is believed, this indicates the escalating tensions between Swiggy and Zomato. This move could potentially shift the show’s dynamics, as it brings one of Zomato’s main competitors into a significant role.
Sources said Swiggy aims to raise Rs 3,750 crore through fresh equity shares and an Offer for Sale (OFS) component worth Rs 6,664 crore. Of the fresh funds, Sources reported that Rs 950 crore is allocated for brand marketing and awareness, as detailed in its Draft Red Herring Prospectus (DRHP).
Deepinder Goyal joined Shark Tank India in Season 3 and quickly gained recognition.
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