Azhar Iqubal, Co-founder and Chief Executive Officer (CEO) of Inshorts has become the latest shark to join the third season of Shark Tank India on Friday.
The official handle of the TV Show on X said, “The news is out! Introducing the newest Shark. Azhar Iqubal, Co-founder and CEO, Inshorts to the Tank.”
In the latest season of the TV show, Oyo CEO Ritesh Agarwal and Zomato CEO Deepinder Goyal have joined as well.
Iqubal said, “On Shark Tank India Season 3, I want to tell the youth of India that where you come from and whether you have a degree or not does not matter; what matters is whether you have hunger, discipline and focus. And if you have it in you, I am here to support you in fulfilling your entrepreneurial dream.”
Iqbal is relatively new to angel investing and has only invested in one startup, Quickpay. He co-founded Inshorts with Deepit Purkayastha and Anunay Arunav, starting as a Facebook page and growing it into what it is now. Inshorts has raised over USD 119 million in funding from investors like Tiger Global, Vy Capital, Rebright Partners and Times Internet.
Similar to other investors on the show, Inshorts is still not making a profit. In the financial year 2021-2022, they had a net loss of USD 31.8 million, which is 1.7 times higher than the previous year. The firm generated USD 18.9 million in operating revenue compared to USD 13 million in the previous year.
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