The Swiggy Vs. Zomato rivalry just got a lot spicier! Deepinder Goyal, CEO of Zomato, recently claimed that Swiggy’s sponsorship of Shark Tank Season 4 led to him being kicked off the show. Yes, the feud has officially made its way to prime-time TV! What started as a battle between two food delivery giants has turned into something much more personal. Let’s learn more about the Swiggy-Zomato conflict.
Shark Tank Season 4
Shark Tank India is a popular business reality show where aspiring entrepreneurs pitch their business ideas to a panel of investors, known as Sharks, in hopes of securing investment. Shark Tank Indian S4 will soon be aired on Sony Television, as it recently went on the floors in the previous week with Anupam Mittal (Shaadi.com), Aman Gupta (boAt), Namita Thapar (Emcure Pharma), Peyush Bansal (Lenskart) and Ritesh Agarwal (OYO) as sharks.
Shark Tank Season 4 also introduces new hosts, Indian actress & artist Sahiba Bali and versatile comedian Ashish Solanki. This season is being sponsored by IPO-bound food & grocery delivery platform Swiggy for INR 25 crore.
However, the sponsorship came with a twist – Swiggy’s agreement to sponsor the show resulted in the dismissal of Zomato CEO Deepinder Goyal as an investor.
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Deepinder Goyal’s Shark Tank Experience
Deepinder attended the Economic Times Startup Awards which celebrated the most acclaimed startups of India. There ET journalist Samidha Sharma asked the Zomato founder about his debut experience on Shark Tank. He said that he went to the show to set a different narrative, be real and change how people perceive, how a startup should be built.
“The startup culture of India is too much about valuations, it’s too much about like showmanship and so on. I just went to do my job. I felt it to be my moral obligation to go there once,” shared Deepinder. Further, Samisha Sharma also asked, “Are you planning to go back?” To which Deepinder replied, “I, unfortunately, can’t go back because Swiggy sponsored Shark Tank Season 4 and kicked me out… at least that’s what I heard.”
Swiggy’s IPO Making Waves
According to ET, Swiggy’s IPO is anticipated to generate substantial capital, which the company intends to use to expand its operations and compete more effectively with Zomato.
On September 26, 2024, Swiggy submitted its updated draft red herring prospectus (DRHP) to the Securities & Exchange Board of India (SEBI). The fresh issue is set at Rs 3,750 crore, while the offer for sale (OFS) will include 18.53 crore shares. Based on the recent share price of around Rs 350 per share, the OFS could amount to approximately Rs 6,500 crore.
Later, on October 3, Swiggy’s shareholders also approved the resolution to increase the size of the primary issue of its IPO from INR 3,750 crore to INR 5,000 crore at the Extraordinary General Meeting (EGM), according to a report by Money Control.
Did You Know?
So, Deepinder Goyal is officially not a part of Shark Tank—but then who’s taking his spot? Will there be a new face in the tank, or are we sticking with just five judges this season? Don’t worry, we’ve got the scoop and all the answers you need! (drumrolls) the newest investor a.k.a shark on Shart Tank S4 is Kunal Bahl! Kunal Bahl is the co-founder of Snapdeal and Titan Capital, and the promoter of Unicommerce.
Small Steps, Big Changes
Previously this week we came across the most wholesome thing, Deepinder Goyal delivers food with his wife Gia Goyal. However, on October 6, Deepinder posted a video on Instagram addressing the difficulties of delivery guys taking orders from malls Ambience & more. “During my second order, I realised that we need to work with malls more closely to improve working conditions for all delivery partners. And malls also need to be more humane to delivery partners,” Deepinder said in his post.
The very next day, Deepinder hopped on LinkedIn to thank the owner of Ambience for swiftly addressing the issue. He also urged other malls to follow suit, adopting similar solutions to make things smoother and hassle-free for everyone.
While the Swiggy-Zomato rivalry shows no signs of slowing down, it’s clear that both companies are pushing boundaries and driving incredible growth in the process. Their competition is driving them to step up their game, bringing new ideas and better services to the table.
While the rivalry keeps things interesting, it’s us, the consumers, who get to enjoy the benefits of their growth. One thing is certain: the food delivery game is only getting more exciting from here!
