In a significant shift within the Indian startup and entertainment landscape, Deepinder Goyal, CEO of Zomato, has officially announced his departure from Shark Tank India ahead of its upcoming fourth season. Goyal, who made his debut as a judge on the popular reality show last season, revealed that he will not be returning, citing Swiggy’s new role as the show’s primary sponsor as the reason for his exit.
Speaking at the Economic Times Startup Awards 2024 on Saturday, Goyal openly addressed the situation. “I unfortunately can’t go back because Swiggy sponsored Shark Tank this time and kicked me out,” he said, offering a candid explanation behind his decision.
The shift comes as Swiggy, Zomato’s main competitor in the Indian food delivery market, is reported to have secured a strategic sponsorship deal for the new season of the show. According to sources, Swiggy is expected to invest approximately Rs 25 crore in the sponsorship, replacing Zomato’s involvement in the series. While Goyal’s departure marks a major change for Shark Tank India, which has gained a dedicated following, the decision underscores the fierce competition between the two food delivery giants.
Both Zomato and Swiggy have been battling for dominance in India’s hyper-competitive food tech industry, and the competition has now spilled over into the media arena. This development aligns with Swiggy’s broader marketing efforts as it prepares for an initial public offering (IPO). In its recently filed draft red herring prospectus, Swiggy outlined plans to allocate Rs 930 crore towards brand marketing and consumer awareness.
As part of its latest growth initiatives, Swiggy has also launched Bolt, a 10-minute food delivery service, in major cities like Bengaluru, Chennai, Hyderabad, New Delhi, Mumbai, and Pune. Additionally, Swiggy’s introduction of the XL EV fleet in Gurugram marks its foray into bulk order delivery using electric vehicles, a service that Zomato had rolled out earlier in April.
Goyal’s exit from Shark Tank India highlights how competition between these two food-tech giants is evolving beyond the marketplace, impacting both their media presence and public profiles.
