Indian social ecommerce platform DealShare raises $144 mn

39

Bengaluru, July 8 | Homegrown social ecommerce startup DealShare on Thursday said it has raised $144 million in their latest funding round led by Tiger Global.

The company said it will utilise new funds in improving and scaling up its operations rapidly.

The latest round marks the third funding for the company in a span of seven months, with the valuation increasing nine-fold on the back of high-growth momentum.

With the current round, the total funding raised by DealShare stands at $183 million.

“We would utilise the funds primarily to invest in AI-driven innovations in our user experience leading to a highly personalised, fun-filled and gamified experience,” said Vineet Rao, CEO and Founder, DealShare.

“Our monthly active users already use our app over 40 times a month making it the most engaging ecommerce app and we will continue to add more innovative capabilities and services to serve a wider range of user needs,” he added.

The company expects its footprint to increase from current 20 warehouses across five states to over 200 warehouses across 10 states by the end of year.

The latest round was co-led by WestBridge Capital, Alpha Wave Incubation (a venture fund backed by ADQ, and managed by Falcon Edge Capital) & Z3Partners with participation from Partners of DST Global, Matrix Partners India, and Alteria Capital.

DealShare has built a new retail model for India with a focus on the affordability and price component for the mass consumers.

Founded by Rao, Sourjyendu Medda, Sankar Bora and Rajat Shikhar, DealShare provides a curated assortment at competitive prices and has built an innovative community leader driven ultra-low-cost delivery mechanism.

“DealShare’s unique approach combines discovery-led social sharing, group buying, and a gamified shopping experience with a simple consumer interface. They are well positioned to power the next wave of Indian ecommerce growth”, said Griffin Schroeder, Partner at Tiger Global.

Source: IANS

Next Story

Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

LEAVE A REPLY

Please enter your comment!
Please enter your name here