Zomato CEO Deepinder Goyal Excluded from Shark Tank as Swiggy Bags Sponsorship

Zomato founder and CEO Deepinder Goyal announced on October 5 that he will not appear as a shark on the fourth season of reality show Shark Tank. Goyal pointed out that the fourth season will be sponsored by Swiggy and as a part of the deal, it has demanded Zomato’s founder removal as a shark. 

“The startup culture of India is too much about showmanship. I went there 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.” 

Goyal made his debut in the third season of Shark Tank and his arrival was well received by netizens for his interactions with the founders. 

Goyal’s removal from the reality show comes ahead of Swiggy’s upcoming initial public offerings (IPO). Recently, the company has reportedly received shareholders nods to increase the size of the IPO from Rs 3,750 crore to Rs 5,000 crore. 

 Swiggy expands its services ahead of IPO 

Apart from gearing up for the IPO, Swiggy is expanding its services, including its recently launched 10-minute food delivery service called Bolt in select cities. Under Bolt, Swiggy aims to deliver quick-to-prepare meals from popular restaurants and quick-service restaurants (QSRs) within a 2-kilometer radius of its customers. Presently, it's operational in six cities, including Delhi, Pune, Chennai, Hyderabad, Mumbai and Bangalore. 

“Bolt is the next evolution in our mission to provide unmatched convenience. Ten years ago, Swiggy revolutionised food delivery by cutting average wait times to 30 minutes,” said CEO of Swiggy, Rohit Kapoor. Swiggy is further reducing that time duration to 10 minutes for frequently ordered items like coffee, burgers, ice-cream, etc., he added. 

Moreover, as the festival season in India has started, the launch of Swiggy’s ‘XL’ to cater to the demands for bulk orders when families and friends get together. 

“The festival season is perhaps the best time to launch this service, when there is gaiety and joy all around, and everyone celebrates with their loved ones,” said Sidharth Bhakoo. Bhakoo is the national business head of Swiggy marketplace.