Dealshare Raises $21million To Expand Its E-Commerce
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Dealshare Raises $21million To Expand Its E-Commerce ● DealShare is an e-commerce company founded in India to help the lower and middle-income groups meet their daily needs. The company announced they’ve raised $21million in new funding rounds and it will be used in expanding their footprint across the nation. ● The funding was led by WestBridge Capital, with support from Alpha Wave Incubation — a venture fund oversaw by Falcon Edge Capital, Z3Partners, and existing speculators Matrix Partners India and Omidyar Network India. ● Many independent investors also participate in the funding making DealShare raised a total of $34 million in two years. 3
Dealshare Raises $21million To Expand Its E-Commerce ● DealShare kicks off when Walmart bought Flipkart, which its founder and chief executive Vineet Rao announced at a recent conference held virtually. ● Rao said although Amazon and Flipkart are well known and functioning well in the urban cities of India, many places in the nation have not yet been reached therefore someone needs to step in and do something. In the beginning, many customers were only interested in purchasing cheap items and the ones on discount Rao added. ● But, today, the business is booming and customers now appreciate its existence. 4
Dealshare Raises $21million To Expand Its E-Commerce ● DealShare start-up e-commerce focused mainly on products that are produced locally instead of international brands and 80% to 90% of the items they sell are manufactured in India. “We started building a network of these suppliers. It was very tough because none of these guys fancied joining modern retail like e-commerce. Some of them had tried to work with e-commerce firms before but the experience left a lot to be desired,” he said.
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Dealshare Raises $21million To Expand Its E-Commerce � Here, modern millionaires takes an indepth look into how e-commerce is a game changer and how DealShare is revolutionizing the industry. Before diving, go through modern millionaires’ reviews to know how he has transformed many entrepreneurs by helping them to build a successful million-dollar business through his outstanding expertise. 6
Dealshare Raises $21million To Expand Its E-Commerce ● Dealshare is taking the whole ecommerce game to another level. This is because there are many Indian population residing in the non-metros and this company has discovered a huge business opportunity in these regions. ● The company takes an indepth look at what is missing and work towards filling the void. ● The buying pattern, the market was analysed and DealShare put in the efforts to understand the nuances and make things happen. ● Over the last 2 years, the results has been remarkable as the company still maintains a their focus on cost-effective, high impact model. 7
Dealshare Raises $21million To Expand Its E-Commerce ● DealShare has worked hard on boosting its finances and the result has been profitable. ● The company will also use its newly acquired fund to increase its growth by increasing its local network source, investing in the technology stack, expanding into new states, cities, and many more. ● “With this round of investment, we will augment our brand presence across existing and new markets. ● Over the next year, we are targeting to increase our footprint to 100 cities and towns across five states,” added Sourjyendu Medda, the Chief Business Officer of DealShare. 8
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