In a momentous stride for India’s entrepreneurial landscape, Azhar Iqbal, the co-founder and Chief Executive Officer of Inshorts, has embarked on a new journey as he joins the third season of Shark Tank India, standing shoulder to shoulder with industry luminaries such as Ritesh Agarwal of OYO and Deepinder Goyal of Zomato. This augmentation to the esteemed consortium of investors marks a novel chapter in Iqbal’s odyssey, one that commenced with his intrepid decision to depart from the hallowed halls of IIT-Delhi.
Inshorts: A Remarkable Journey from a Facebook Page
In the realm of news amalgamation, Inshorts, an innovative news compilation platform, embarked on its journey from the modest precincts of a Facebook page. Iqbal, alongside his compatriots Deepit Purkayastha and Anunay Arunav, meticulously nurtured this conception into a monumental saga of triumph. Notably, the previous month witnessed Ritesh Agarwal and Deepinder Goyal garnering considerable attention as they participated in Shark Tank India, unequivocally illustrating the burgeoning impact of the show within the vibrant landscape of Indian startups.
Diverse Panel of ‘Sharks’ in Season 3
In its third season, Shark Tank India showcases an eclectic array of investors. Notable figures in this assembly include Peyush Bansal of Lenskart, Anupam Mittal hailing from People Group, Namita Thapar representing Emcure, Vineeta Singh from the realm of Sugar Cosmetics, Aman Gupta affiliated with boAt, and Amit Jain, a prominent figure within the CarDekho Group. This amalgamation of accomplished business moguls and financial virtuosos augurs an unparalleled synergy of acumen and discernment for the nascent entrepreneurs who proffer their entrepreneurial visions on the grand stage.
Azhar Iqbal: A New Entrant to Angel Investing
Azhar Iqbal, despite his relatively recent foray into this domain, has prior financial endorsements with Quickpay, as reported by Tracxn. His decision to actively participate in the Indian startup arena through his appearance on Shark Tank India can be interpreted as a deliberate and calculated move, aimed at bolstering his presence in this sector. It is conceivable that this strategic maneuver aims to garner greater recognition for his news outlet, Inshorts.
Iqbal’s Inspiring Journey and Message
Iqbal’s personal journey as an entrepreneur is truly remarkable. During his 20s, he made the courageous decision to depart from IIT Delhi to pursue his entrepreneurial aspirations. In retrospect, he characterized the previous decade as an “exhilarating odyssey, brimming with fervor.” Presently, Inshorts stands as a major contender within the Indian social media domain, boasting an impressive 1.2 crore daily users.
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Empowering the Future of Indian Youth
Iqbal’s resolve to participate in Shark Tank India is driven by his aspiration to motivate and empower the emerging generation of India. He firmly believes that attributes such as an unrelenting ambition, unwavering commitment, and laser-sharp focus hold greater significance than one’s lineage or academic credentials in the realm of entrepreneurship. He ardently vocalized his unwavering dedication to aiding individuals in realizing their entrepreneurial aspirations during his appearance on the show.
Shark Tank India: A Distinctive Arena for Startup Ventures
Shark Tank India presents an unparalleled stage for budding visionaries to present their innovative startup concepts before a jury of established investors. The ‘sharks’ featured on the show have not only ascended to celebrity status but have also exerted a substantial impact on the landscape of Indian startup enterprises.
Inshorts: A Startup Firm Endorsed by Eminent Financiers
Inshorts has garnered substantial recognition and financial patronage from distinguished investors. Tiger Global, Vy Capital, Rebright Partners, Times Internet, and other notable entities have collectively infused over $119 million into this platform. This substantial financial endorsement serves as a testament to the latent potential and influence of Inshorts within the digital news and content aggregation domain.
Financial Realities
Like many startups, Inshorts has had its share of financial challenges. In the financial year 2022, the company reported a consolidated net loss of $31.8 million, marking a significant increase of 1.7 times compared to the previous year. However, it’s worth noting that the operating revenue also witnessed growth, increasing from $13 million in FY21 to $18.9 million in FY22.
