Who is Azhar Iqubal? The new shark joining Zomato and OYO Room CEOs for Shark Tank India Season 3

In a thrilling turn of events, Azhar Iqubal, the co-founder and chief executive officer (CEO) of Inshorts, has stepped into the spotlight as the latest shark to join the cast of Shark Tank India Season 3. The popular TV show, which has gained a massive following for its unique blend of entrepreneurial prowess and investment opportunities, welcomed Iqubal with open arms.

“The news is out! Introducing the newest Shark. Azhar Iqubal, cofounder and CEO, Inshorts to the Tank,” announced the official handle of the TV show on X, formerly Twitter.

Iqubal's addition to the show follows closely on the heels of other industry stalwarts, including Ritesh Agarwal, co-founder and CEO of OYO, and Deepinder Goyal, co-founder and CEO of Zomato, who joined the latest season. Shark Tank India has not disclosed if these entrepreneurs will appear as special guests or will be permanent fixtures in the latest season. Vikas D Nahar, founder and CEO of Happilo, had appeared as a guest judge in the previous season. 

Shark Tank India Season 3 is set to be broadcast on Sony Entertainment Television, and in addition to Azhar Iqubal, it features a star-studded lineup of investors, including Peyush Bansal of Lenskart, Anupam Mittal of People Group, Namita Thapar of Emcure, Vineeta Singh of Sugar Cosmetics, Aman Gupta of boAt, and Amit Jain of CarDekho Group.

The heart of the show revolves around budding entrepreneurs hailing from all corners of the nation. They passionately pitch their innovative business ideas to the panel of investors, seeking the much-needed capital to fuel their startups.

Iqubal's venture into the world of angel investments is relatively recent, having previously invested in only one startup, Quickpay, as per Tracxn records. By joining Shark Tank India, the CEO of Inshorts is evidently poised to expand his investments in the Indian startup ecosystem while simultaneously drawing more attention to his rapid-fire news platform.

Iqubal, who left IIT-Delhi before founding Inshorts with his co-founders Deepit Purkayastha and Anunay Arunav, initially started the platform as a Facebook page and has since transformed it into the prominent news aggregator it is today. Reports indicate that Inshorts has successfully raised over $119 million in multiple funding rounds and boasts the support of notable investors, including Tiger Global, Vy Capital, Rebright Partners, Times Internet, among others.

Much like many companies of the other sharks on the show, Inshorts remains a loss-making entity. In the fiscal year 2021-22 (FY22), the news aggregator firm reported a consolidated net loss of $31.8 million, marking a 1.7X increase compared to the previous year. Nevertheless, operating revenue showed growth, reaching $18.9 million in FY22 compared to $13 million in FY21, hinting at the platform's potential for future profitability.

Also Read 'I'm here to add...': Zomato's Deepinder Goyal joins 'Shark Tank India 3'